Issue 117 - 29th June - 27th July
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73% of executive expats to fill top jobs in Russia and Eastern Europe30/08/2007 10:18:00Respondents were asked, “How will Russia and Eastern Europe deal with the executive talent shortage affecting the region?” Results were as follows: Hire expats to fill key executive roles – 73% Train younger local talent to fill executive roles – 27% With the growing affluent consumer class and potential for high returns, Eastern Europe and Russia have become the latest market targets for multinational companies. As a result, multinationals are competing with local businesses for scarce executive talent. Many multinationals are bringing in their own executives and hiring locals as entry and mid-level employees. “These countries have reached a critical stage in which they require strong talent to make them global economic players,” noted Peter Felix, President of the global Association of Executive Search Consultants (AESC). “The question is where will that talent come from? While Russia is developing a younger ‘golden generation’, top talent is still in short supply.” Respondents were from the following regions: North America (60%); Europe (22%); Asia Pacific (10%); Latin America (4%); Middle East (2%); Africa (1%); and other (1%). onrec.com news can only be reproduced with the permission of onrec.com or if onrec.com is attributed as the source.
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