Now that so many businesses are expanding into the BRIC countries, one major focus should be how are they going to secure the best and brightest to work for them. The needs and wants from employers by professionals in countries such as Brazil, Russia, India, and China are unlike that of employees in developed countries. Companies need to learn how to tailor their workplace in these countries in order to identify, secure, and retain top talent.
A survey done by the Big Four accounting firm, Ernst & Young, found five key strategies that have the greatest impact on talent attraction and retention in the BRIC countries. These five different strategies include:
- Accommodate different career goals across countries and professions.
- Build a differentiated employer brand, externally and internally.
- Develop the behavior styles of co-workers and leaders to enhance engagement.
- Craft work environments to match country preferences.
- Tailor compensation benefits to individual and cultural differences.
To accommodate different career goals it is suggested that companies use differentiated job design, career paths, and performance-management. These high talent professionals share many goals that include such desires as a strong work-life balance and opportunities to build a career, not just internationally, but more importantly domestically. Firms must now compete to secure top professionals in the BRIC countries against companies that offer global careers, closer to home. When talking about the strategy of building a differentiated employer brand, companies should focus on their position as an industry leader, let potential employees know of the company’s high performance and continued success, and highlight different features in specific countries in order to tailor directly to the audience.
Each country seemed to value the characteristics of co-workers differently but there were similarities in the fact that a majority want leaders, who motivate, provide vision, and give autonomy and freedom. Companies should develop the specific traits that are favored in each country in order to develop the behavior styles that will enhance engagement. The work environment is one of the most important factors for attracting the highest talent. Each country values different types of working environments, for example, Brazil was found to like a low-stress, comfortable, and high-energy atmosphere, where as India thrives off of work environments that are high-energy, social, and creative. This comes to show that companies really need to know what kind of setting employees flourish in otherwise there could be drastic repercussions.
Companies must also tailor compensations and benefits to individual and cultural differences. Employees in all countries share a similarity in wanting to know what their future career path and earnings will look like. The countries do differ in the fact that they put varying value on benefits from companies, firms need to make sure to modify this according to employee’s specific wants and needs. Employees also had more satisfaction when their individual careers were actively managed. These are all strategies companies can use in order to attract the best and brightest employees in the BRIC countries.
Do you agree with the results of this survey? Leave a comment and let us know what you think!