How should multinational companies operating in Asia develop local talent? How should they go about cultivating Asian nationals into leadership positions?
In today’s globally-connected world, companies increasingly operate across borders, ethnicities and cultures. Asia in particular is all the more complex, given that the populations in China and India alone speak a multitude of languages. The Diversity & Inclusion Asia Network (DIAN), a network formed by Community Business, recently launched its third report: Bringing Out the Best in Asian Talent to carefully examine these issues, especially as more Western multinational companies establish their presence in the high-growth Asian region.
Through interviews with recruitment consultants, university students, potential employees and successful leaders in China, Hong Kong and India, this study found that while the youth in these countries prefer to work for MNCs, there are different attitudes towards international stints and the lack of autonomy in MNCs.
Aparna Banerji, Diversity & Inclusion Manager, Community Business, who co-authored the report said, “It is hoped that this study will go some way to encouraging more open and honest discussion by the corporate sector about cultural issues that are limiting Asians from reaching their full potential and as a result, drive more proactive strategies for bringing out the best in Asian talent.” She added, “With Asia assuming an increasingly dominant position in the world economy, it is those companies that manage to harness the talent of their Asian employees who will emerge as the leaders.”
To mark the launch of the report, Bank of America Merrill Lynch is proud to host a panel discussion on Asian talent and leadership today. Key speakers include Banerji and Professor Steven DeKrey, Senior Associate Dean at the Hong Kong University of Science and Technology School of Business and Management.
Bank of America Merrill Lynch is a founding member of the Diversity & Inclusion Asia Network as it espouses, and is committed to, promoting these principles. Diversity is critical to business success, while inclusion is about creating a workplace environment that would encourage diversity of thought, free from prejudice and discrimination to create an equal platform for all, regardless of race, nationality, gender, sexual orientation and age for example. “As companies of global scale and Western roots expand their footprint in Asia, it is critical that we understand the cultural differences here and the aspirations of Asian talent so that we can have a truly inclusive workplace environment,” said Dennis Arnum, Head of Global Technology & Operations, Asia Pacific and Co-chair of Asia Pacific Diversity & Inclusion Council at Bank of America Merrill Lynch.
Paul Arkwright
Publisher
