The international talent market is accessible to more organizations today than ever before. Remote work was already on the rise before 2020, but the COVID-19 pandemic has only accelerated that shift. Regardless of size, companies that don’t compete for global talent are losing ground to competitors.
This shift is accompanied by a need for HR teams to build a strong knowledge base about the countries where they operate and the workers they employ. We call this local knowledge intellect, and it’s the first component of Global Fluency, our framework for achieving and sustaining success in an ever-changing global marketplace.
Without intellect, business decisions can be delayed or based on faulty information and vital opportunities can be missed.
We recently partnered with HRLeaders to discuss Global Fluency and the ways a high intellect can lead to accelerated expansion, cost and time savings, and decisions that bring direct value to the organization.
In the second of our discussions, “How HR can achieve growth in new markets by improving global intellect,” our panel of HR experts shares their take on the importance of intellect. Here’s a sampling of what they had to say:
VP HR Organization Transformation at Coty
“I would say when we talk about in-country intellect, it always needs to encompass both business and people—workforce intellect. I would also say that today ... there is more help than ever with a global approach, with global data platforms that help us. Had I known this, or had I had this available five [or] 10 years ago, it would have been much easier. So, I would say new technology and these knowledge platforms help immensely.”
SVP and Chief Human Capital Management Officer at WCG Clinical
“There sometimes is a fear in leaders saying the three magic words: ’I don't know.’ I have found that in these situations, when you don't know about a market that you're working in or are new to, not only is ’I don't know‘ nothing to be afraid of; it's welcomed. I find the people in those markets are most happy to enlighten you and give you advice and perspective. And it is a wonderful way to build trust and credibility out of the gate, other than just trying to fake your way through it.”
Chief Strategy and Marketing Officer at Safeguard Global
“We talk to our clients a lot about proximity of knowledge. How far away or how many layers away is the knowledge that you need to run effectively in a particular country? when you look across small mid-tier and enterprise companies, less than 15% have in-house or close-proximity knowledge of every local market that they're in ... There's a huge opportunity for small and midsize companies to build differentiation in their business by bringing that knowledge closer to where it needs to be from a proximity standpoint. A lot of companies neglect that until it's too late in their growth evolution.”