Global HR Leaders Meet in London to Discuss Growth in Emerging Markets

Global HR representatives from some of the world's largest multinationals met at the London headquarters of Thomson Reuters for a dialogue on executing growth strategies in emerging markets. The session was jointly hosted by Organisation Solutions and The Chapman Consulting Group.

The insightful research conducted by Organisation Solutions since 2007 includes data from seasoned global players such as Dell, General Electric, Japan Airlines, Johnson & Johnson, Intercontinental Hotels Group, Kraft Foods, Hewlett-Packard, Maersk, Mars, Standard Chartered Bank and UBS.

During the session, HR Leaders looked at some of the key challenges to growth in emerging markets. These included the shortage of experienced leadership talent, government controls in some industries, a relative lack of entry-level leaders and the tussle between public and privately owned local competitors.

Bob Mannering, head of Europe for Organisation Solutions, explained some of the enablers of growth in emerging markets, "Driving growth leads to a number of very challenging tensions. Our research shows that the three keeping executives awake at night are: 1) delivering short-term results whilst simultaneously building for the future; 2) focusing the business of its core business whilst at the same time ensuring readiness for opportunities; and 3) hiring new staff whilst developing capabilities of existing staff.

Looking forward to 2013, companies in the study identified China (36%), India (28%) and Brazil (19%) as the countries getting the most attention from their company. "The focus multinational companies are placing on these high-growth markets, particularly China, is great. Global and regional offices are as likely to be seen as a barrier as they are an enabler of growth in these markets" said Mr. Mannering.

The session finished with dialogue and some direction for HR and Business Leaders in growth markets. Mannering said that growth leaders should strive to drive a shared understanding of external challenges. They should place a focus on growth by "walking it, talking it and aligning all to it". Finally, he said, "if the business has a growth strategy that includes customer focus and consumer brand, it is imperative to educate and align the workforce with this objective".

"This research and the lesson of experience is that leaders must make building their leadership team a top priority to achieve the growth they seek in emerging markets." says Matthew Chapman, CEO of The Chapman Consulting Group.