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September 04, 2020 | Publication
A confluence of factors is culminating in a significant talent mobility challenge that will require concerted management attention and proactive strategies to address. Simply put, the future of global talent mobility is in question. For Asia in particular, three factors are quickly converging into a “perfect storm” for talent mobility:
BRIEF
A confluence of factors is culminating in a significant talent mobility challenge that will require concerted management attention and proactive strategies to address. Simply put, the future of global talent mobility is in question. For Asia in particular, three factors are quickly converging into a “perfect storm” for talent mobility:
Insights for What’s Ahead
For multinational companies in Asia (MNCs), the confluence of factors cited above is likely to have seriously adverse effects on traditional Total Talent Mobility practices [1], and for a prolonged period. In anticipation of future challenges, organizations will need to redefine international talent mobility programs and design creative solutions to mitigate five future business risks:
1. New Constraints on Talent Acquisition
Growing unemployment rates across Asia have led to the tightening of visa and immigration controls by governments seeking to support job protection for local nationals. How restrictive these measures will become and how long they will last is impossible to know at this juncture. Already, MNCs in Asia are subject to greater regulatory scrutiny over hiring decisions resulting in much-reduced access to foreign talent for jobs requiring on-site presence. With more limited access to international talent pools for on-site staff, how will organizations fill key talent gaps, especially at senior levels?
2. The Loss of Overseas Experience for Leadership Development
Overseas assignments have long been viewed by multinationals as critical pathways – even essential components – in the career development
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