Globetrotters make it to the top
Thursday, May 12, 2005
Embargoed until Thursday May 12, 2005
GLOBETROTTERS MAKE IT TO THE TOP
Managers must notch up international experience if they are serious about making it to the top, research from the Recruitment Confidence Index has shown. The research into overseas recruitment confirms the growing importance of the global manager in UK business today.
Nearly half of employers responding to the survey (42%) say they have increased their international recruitment over the past five years. And nearly one in five (18%) say the number of staff leaving to work abroad has also increased over the past five years. Meanwhile, 20% of firms say it is important or very important that their senior managers spend time overseas.
The Recruitment Confidence Index (RCI) is a quarterly survey of UK directors’ and managers’ expectations of changes in recruitment activity and business conditions. It is produced by Cranfield School of Management and The Daily Telegraph in association with Personnel Today magazine. The research special into overseas recruitment has been sponsored by executive search and selection firm Torres and Partners.
Commenting on the figures Dr Michael Dickmann, Director of the Centre for Research into the Management of Expatriation at Cranfield School of Management, said:
“Long-term assignments, short-term assignments and international commuting are all on the increase. And for most employers, the benefits of these working arrangements clearly outweigh the costs.
“It’s not just globalisation that is driving increased mobility among top managers, although that is a major factor. The explosion of knowledge and learning, and the desire to develop leaders for the future are also encouraging firms to expatriate and repatriate skills.”
The research shows that firms are not looking for international experience for the sake of it. Mostly they are seeking technical skills, language ability and market knowledge. More than three in four employers recruiting abroad (78%) said the availability of technical skills was significant in their decision to hire overseas. Nearly two in three (60%) cited language skills and half (50%) cited knowledge of overseas markets. Reducing labour costs was only significant to one in five employers.
Search and selection firm Torres and Partners has seen its overseas work grow four fold over the past five years, largely as a result of client demand. Director Alison Diamond said: “The idea that UK managers don’t travel well isn’t true. We have many client firms who come to us to plug skills gaps that are the result of UK managers taking their talent overseas.
“UK managers have qualities that are admired in many quarters we are a cosmopolitan country and extremely aware and understanding of different cultures, which is a huge advantage. In addition, the UK is a sophisticated marketplace in many commercial sectors. We can sometimes fail to appreciate this, but our experience and expertise as business leaders and entrepreneurs is something that is admired and translates well in a global market.”
Chris Lloyd, Classified Sales Manager with The Daily Telegraph, said the growth in international recruitment was a massive opportunity for ambitious managers.
“The concept of taking on an international job has become much easier. Travel is cheaper and it’s not beyond the wit of man to have your family living in the UK while you work in France or Germany during the week.
“The RCI survey shows that firms want to tap into talent regardless of geographical boundaries. And it mirrors the fact that demand for our own Euro-executive advertising package has rocketed over the past year,” he said.
NOTES FOR EDITORS
- The Recruitment Confidence Index is a quarterly survey of public and private sector employers that measures expected changes in recruitment activity and business conditions during the next six months. It also looks at recruitment methods, skills shortages, staff turnover and pay rates.
- The RCI was set up five years ago by Cranfield School of Management and The Daily Telegraph and is currently produced in association with Personnel Today.
- This special into overseas recruitment was sponsored by search and selection firm Torres and Partners: www.torres.co.uk. It draws on responses from 1,115 senior managers around the UK.
- The full report is available to the public, price £50. To obtain a copy contact Dr Emma Parry, Cranfield School of Management on 01234 754808 or e-mail emma.parry@cranfield.ac.uk.
- The RCI website can be found at www.rcisurvey.co.uk.
The full report is available free of charge to the press.
For further information contact Fiona Leslie, Press and PR Office, Cranfield School of Management on 01234 751122 or e-mail fiona.leslie@cranfield.ac.uk