Companies Must Build Stronger Leadership Pipeline as Business Environment in Asia Changes Rapidly "Prioritize Leadership Development," Says ManpowerGroup Ahead of World Economic Forum Annual Meeting 2014
MILWAUKEE, Jan. 15, 2014 /PRNewswire/ -- ManpowerGroup (NYSE: MAN), the world leader in innovative workforce solutions and World Economic Forum (WEF) strategic partner, will be joining leaders at the WEF Annual Meeting 2014 in Davos, Switzerland next week to discuss how the macroeconomic forces impacting the world of work are creating greater pressure for businesses to develop leaders faster.
Nowhere in the world is the shortage of leaders more pronounced than in Asia. According to research conducted by Right Management — the global leader in talent and career management within ManpowerGroup — only 7.2 percent of businesses in Asia have leaders who are "very prepared" to address business challenges. ManpowerGroup's 2013 Talent Shortage Survey also found that management and executives are on the list of the region's Top 10 Hardest Jobs to Fill.
The Asian business environment is rapidly changing. The World Economic Forum predicts a growth of an additional one billion middle-class consumers in East Asia. This rise of the middle class and the evolution of the region, from one that manufactures to one that consumes and innovates, demands Asian leaders with new skills.
Right Management research has found that the three most important leadership characteristics in Asia today are a global mindset, the skills to lead change and the ability to retain and develop talent. To be most effective, it is imperative that talent development programs in Asia focus on growing these skills through a combination of international assignments, on-the-job, action learning, executive coaching and mentoring, and rotational assignments.
"Leadership is a journey but the current demand for leaders in Asia means this journey needs to be taken by an express train," Tweet: @ManpowerGroupJJ Leadership is a journey but the current demand for leaders in Asia means this journey needs to be taken by an express train said Jeffrey A. Joerres, ManpowerGroup Chairman and CEO. "Companies in Asia must deploy holistic leadership programs customized to local needs to meet these compressed development timelines."
To win in the Human Age, companies need to prioritize nurturing future leaders now to ensure the talent is in place to drive future growth.
ManpowerGroup™ (NYSE: MAN) is the world leader in innovative workforce solutions that ensure the talent sustainability of the world's workforce for the good of companies, communities, countries, and individuals themselves. Specializing in solutions that help organizations achieve business agility and workforce flexibility, ManpowerGroup leverages its 65 years of world of work expertise to create the work models, design the people practices and access the talent sources its clients need for the future. From staffing, recruitment, workforce consulting, outsourcing and career management to assessment, training and development, ManpowerGroup delivers the talent to drive the innovation and productivity of organizations in a world where talentism is the dominant economic system. Every day, ManpowerGroup connects more than 630,000 people to work and builds their experience and employability through its relationships with 400,000 clients across 80 countries and territories. ManpowerGroup's suite of solutions is offered through ManpowerGroup™ Solutions, Manpower®, Experis™ and Right Management®. ManpowerGroup was named one of the World's Most Ethical Companies for the third consecutive year in 2013, confirming our position as the most trusted brand in the industry. See how ManpowerGroup makes powering the world of work humanly possible at www.manpowergroup.com. Follow ManpowerGroup Chairman and CEO Jeff Joerres on Twitter: Twitter.com/manpowergroupjj