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Surviving and Thriving in a Globalized World
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Surviving and Thriving in a Globalized World
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- Surviving (and Thriving!) in a Globalizing World
- Globalization
- In 1990, only 1/3rd of S&P 500 Revenues Came from OUTSIDE the U.S.
- Today It’s HALF
- by 2025, over 2/3rd Of Revenue will be INTERNATIONAL
- Are YOU ready?
- Is YOUR organization?
- Phase 1 Phase 3 Raw materials Innovation and from abroad R&D from Abroad 1970s 1980s 1990s 2000s and Beyond Developed Countries’ Economic Dependency on the Rest of the World Phase 2 Phase 4 Manufacturing Sales Generated Inputs from from Abroad Abroad
- Think these trends don’t affect you?
- Think again.
- Fact: American companies increasingly look to foreign talent pools to gain competitive advantage in a globalizing world.
- There is a Business-driven Shift in Recruiters’ Focus on Languages:
- As fortunes are increasingly tied to global sales… Foreign Sales’ Growing Weight Sales Abroad per $1 of Domestic Sales, S&P 500 Companies ?$1.31?? ?$1.06?? ?$0.87?? ?$0.75?? ?$0.64?? 2000? 2002? 2004? 2006? 2008? 2010? 2012? 2014? 2016? 2018? 2020?
- Globalizations’ Impact on Profitability % of Executives Expecting Positive Impact, 2010 Growth of Consumers in 64% Emerging Economies Shift of Economic Activity 51% Between and Within Regions Increasingly Global Markets for 50% Labor and Talent
- …American companies naturally emphasize multilingualism in their recruiting efforts. U.S. Recruiters’ Hiring Preferences Q2 2010 50% 33% Will be hiring bilinguals Will prefer a bilingual over a non- bilingual, all else equal
- Coupled with a Widening Skills Gap:
- While American children face diminishing and limited access to foreign languages at school… U.S. Public Schools with Foreign Language Programs 1997 vs. 2008 75% 58% 1997 24% 2008 15% Elementary Schools Middle Schools
- Languages Most Frequently Offered at U.S. Secondary Schools 2008 93% A “dead” language is offered more often than languages spoken in markets that are major 46% U.S. trading partners. 14% 13% 4% 4% 3% 0.6% 0.3% Spanis French Germa Latin Chines Italian Japane Arabic Russia se n h n e
- …their European counterparts graduate from school speaking at least one foreign language. Language Learning Among Upper Secondary European Students EU Average, 2007 No languages 6% 1 Language 33% 2+ Languages 60%
- Forces Increased Talent from Abroad:
- Recognizing the wide gaps in language proficiency between American workers and their foreign counterparts… Proficiency in Foreign Languages Beyond Beginner Level % of Active Language Learners, 2007 54% 57% 47% 45% 40% 42% 33% 33% 23% vs. vs.
- ...many companies look to poach talent from abroad… Growth in Number of Foreign Workers H1B Visa Petitions by Top 1000 Employers of Foreign Workers 143,769 13% 99,426 r CA GR = 3-Yea 2005 2008
- ….even at the CEO level. Foreign-born CEOs Fortune 100 Companies, 2000 vs. 2010 14 4 2000 2010
- Fact: Fulfilling multicultural and multilingual business needs exclusively through hiring foreign-born talent is not sustainable.
- The Lure of Fast-growth Developing Countries:
- The staggering pace of business activity in parts of the developing world… Real GDP Growth USA vs.BRIC Countries, 2000 through 2009 9.91% 7.01% 5.30% 3.31% 1.88% vs. USA Brazil Russia India China
- Change in M&A Activity Q1 2010 over Q1 2009 Asia-Pacific (excl. Japan) 126% Asia-Pacific (incl. Japan) 79% Europe -3% USA -11%
- …coupled with the arbitraging effect of lower cost of living in these countries… The Illusory Wage Gap Average Salary for 5-9 Years of Experience, 2010 Duty
- …presents lucrative opportunities for professional development and career advancement. Returnees’ Careers on Steroids % of Returnees Holding Senior Management Jobs, 2008 Data
- Reverse Brain Drain Further Exacerbates the challenge:
- The promise of a brighter future abroad... Positive Outlook on Future Economy % of Immigrants Studying in the U.S.,2008 Data
- …and governments’ efforts to lure talent back home... Concerted Global Recruitment Efforts Case in Point: China ??Special chapter on Human Resource Development in 5-year Plan ??“One Thousand Talents Scheme” to recruit global academic and managerial talent. ??$150,000 one-time subsidy for high-potential employees moving to work in China. ??Special service to help foreign professionals handle immigration paperwork and get settled.
- ...are starting to crowd American recruiters out of the labor market for international, high-potential talent. MBAs Taking Jobs in Asia % of Graduates from Top 10 U.S. Business Schools
- Serious Competition from Foreign Recruiters Case in Point: Samsung in 2009 ??50 non-Korean MBAs from top 10 U.S. business schools signed for Samsung’s Global Strategy Group (100% year-over-year increase). ??16 graduates hired from Kellogg alone – more than the combined number of graduates hired by U.S. giants Proctor & Gamble and General Mills. ??Jobs offer early opportunity to advise top Samsung executives on internal consulting projects.
- Cumbersome and Uncertain Processes add to the Challenge:
- Current U.S. Immigration quotas that accommodate only a portion of yearly work authorization cases… Supply-Demand Imbalances 2008 Work Authorization Applications Situation 163,000 1 Day Random Lottery H1-B applicants Available visas ran Lucky applicants BUT out on the day after the + selected through a random computer application lottery. 85,000 process started. Annual cap on new H1-B visas 78,000 Foreign-born, highly skilled workers that could not be hired by American companies due to lack of available visas.
- Fact: American companies seek to develop linguistic awareness amongst their employees through offering language training support.
- Multilingualism is now a Critical Component of Employees’ Skill Set:
- Companies increasingly consider foreign language proficiency a critical part of their employees’ skill set… Importance of Speaking a Foreign Language 2009 Data
- …and many have already started offering subsidized or free training opportunities to their personnel. Provision of Language Training 2009 Data
- Look into the Near Future:
- Companies that consider foreign language proficiency important but do not currently offer language training often compensate for the skills gap by hiring already multilingual staff… Top 3 Reasons for Not Offering Language Training Support 2009 Data 36%
- …however, as they face increasing difficulties recruiting international talent, language training increases. Anticipated Near-term Changes in Corporate Language Training % of Companies Expecting Increases, 2009 Data
- Fact: Innovative technology can be leveraged to deliver effective, scalable language training across an organization.
- A platform approach that is engaging, effective, and easy- to-implement is the answer:
- Technology-based platforms offer scale... Foundational Language Learning Platform Linguist Expert Fluency Operational Proficiency Foundational Learning REACH
- ...measurability, and value. Foundational Language Learning Platform INVESTMENT Linguist Expert Fluency •? The ideal platform offers: –? Language breadth –? Management platform/ Operational LMS integration Proficiency –? Scalability/accessibility –? Motivation and learner engagement Foundational –? Effectiveness Learning REACH
- Rosetta Stone Enterprise TOTALe™ a Robust E3 Language-Learning Platform:
- The Ideal Platform Delivers the Right Content in the Right Way… Intelligent Sequencing ?? No translation ?? Adaptive RecallTM ?? Adjusts to user needs ?? Audio CompanionTM Natural Discovery Speech Activation Native Socialization ?? Patterned input ?? Proprietary technology ?? Most natural method ?? Helps discover meaning ?? Emphasizes interaction ?? Simulated dialogues ?? Thought and play ?? Helps develops skills ?? Native-speaking coaches ?? Keeps users motivated ?? Builds confidence ?? Connect with other users Actionable Feedback ?? Response to user action ?? Speech, text, click ?? Models correct way ?? Real-time applicable
- Rosetta Stone Enterprise TOTALe
- RosettaCOURSE™
- RosettaSTUDIO™
- RosettaWORLD™
- Fact: Rosetta Stone delivers award-winning enterprise language- learning platforms that develop the language advantage for thousands of organizations all over the world.
- Recognized Effectiveness:
- Outstanding Reviews, Trade Recognitions, and Academic Validation… Outstanding Reviews Trade Recognitions “Gold standard.” “Next best thing to living in a country.” “A thousand times more engaging than “Unrivaled.” audio tapes.” Academic Validation Independent 2009 study: 95% confidence that average user will meet requirements of full semester in college after 55 hours of using Rosetta Stone.
- Embraced by Organizations Worldwide:
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