Indians high on emotional quotient
What makes Indian managers one of the most sought after breeds in the global talent market? Karen Fifer, managing partner (consumer practice) Asia Pacific at Heidrick & Struggles has a vantage point in seeing global talent war play out.
By Malini Goyal, TNN |
Talent war is raging the world over - certainly so in the two sizzling economies - India and China. But scratch the surface - and the two talent markets are qualitatively vastly different. Why and how is the talent scarcity playing out in these two geographies? Why is it being felt so acutely in China? And what makes Indian managers one of the most sought after breeds in the global talent market? Karen Fifer, managing partner (consumer practice) Asia Pacific at Heidrick & Struggles has a vantage point in seeing global talent war play out. Based out of Hong Kong, with a pulse on Mainland China, keeping track of the Asia Pacific market and dealing with western MNCs rushing to Asia, she is well versed with dynamics of the Asian job market. She spoke with ET on her recent trip to India. Excerpts:
What’s the big difference between Indian and Chinese market?
Of course, everybody is expanding, growing and worrying over talent scarcity. This talent scarcity is being felt even here in India - but in China its far more acute. To give you some sense of the difference in scale - according to some recent media reports I saw here, India is facing a scarcity at CXO level by around 2,500. In China that figure stands at 75,000.
Why is talent crisis so acute in China?
China is paying a price for the Cultural Revolution. The Chinese economic growth isn’t going to last unless the talent crisis is addressed. University education has become a top priority for the government there. We have become open to getting western expertise in the sector.
What role do expats play in China’s talent market?
In China, expats hold leadership role. Some amount of localisation has begun to happen and western expats are being replaced by Asian expats, but local Chinese are still few in numbers. In India it’s a different story. Indian managers are in great demand. They are doing extremely well globally - I think they are one of the most wanted managers in the global talent market.
What makes Indian executives so sought-after?
Their cultural sensitivity, their work ethics, their ability to manage diversity and work in tough markets and environment, is remarkable. With western expats, the moment the need is away from Beijing, Shanghai where living conditions are tough, we find it difficult to get them. But Indians can adjust easily. We find India managers very high on emotional quotient. I think doing business in India, dealing with its complexity and diversity enables them well for the global challenges.
Of course, everybody is expanding, growing and worrying over talent scarcity. This talent scarcity is being felt even here in India - but in China its far more acute. To give you some sense of the difference in scale - according to some recent media reports I saw here, India is facing a scarcity at CXO level by around 2,500. In China that figure stands at 75,000.
Why is talent crisis so acute in China?
China is paying a price for the Cultural Revolution. The Chinese economic growth isn’t going to last unless the talent crisis is addressed. University education has become a top priority for the government there. We have become open to getting western expertise in the sector.
What role do expats play in China’s talent market?
In China, expats hold leadership role. Some amount of localisation has begun to happen and western expats are being replaced by Asian expats, but local Chinese are still few in numbers. In India it’s a different story. Indian managers are in great demand. They are doing extremely well globally - I think they are one of the most wanted managers in the global talent market.
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What makes Indian executives so sought-after?
Their cultural sensitivity, their work ethics, their ability to manage diversity and work in tough markets and environment, is remarkable. With western expats, the moment the need is away from Beijing, Shanghai where living conditions are tough, we find it difficult to get them. But Indians can adjust easily. We find India managers very high on emotional quotient. I think doing business in India, dealing with its complexity and diversity enables them well for the global challenges.
How does this demand for Indian talent manifest in your search mandates?
Today it’s not rare to get a mandate from companies looking for out-of-India requirement where they specifically ask for an Indian manager with international experience. Recently, an MNC wanted a head of strategy in Hong Kong asking for an Indian with international exposure. I would say if you look at globally, India and Australia offer great talent and leadership pool. Australians because as a nation they are fairly mobile and adventurous.
What’s the big change you see in the talent search market?
What I notice is that earlier we would largely hire from the West for Asian markets. Now it’s just the reverse - we need to recruit talent from Asia for the western markets. Also searches are going international. Almost every search we do in Hong Kong, is international. And the managers’ willingness to relocate internationally too has risen.
How does talent scarcity manifest in China?
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The government has passed legislation on minimum wages. It hopes that this could be one way to control the massive talent demand. In China, the focus is shifting from acquiring talent to retaining them in private as well as the government sector. One of the side effects of talent scarcity is title inflation - companies are dangling out these fancy titles to keep their executives happy. Companies are also trying to offer them opportunities to work in other parts of the world. Things like alumni network, care for the aged parents too are becoming important to keep their staff hooked. The entire game in the talent market is moving from reactive to being proactive. We are beginning to actively work with companies to map their future talents needs and see potentially where we could tap them on a global scale.Download
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