This document discusses leadership challenges in emerging markets. It begins by noting that businesses are looking to emerging markets for growth but need to understand how to lead diverse workforces. The document then outlines 8 key trends of workforces in emerging markets: they emphasize collectivism over individualism, have a family rather than corporate mentality, are generally younger, prefer informal to formal learning, have higher education levels, respect leadership hierarchies, include both urban and rural workers, and are more diverse. It argues leaders must adapt to these trends, such as empowering workers and recognizing local achievements. Overall, the document provides an overview of workforce trends in emerging markets and how leaders can manage more effectively by setting examples, allowing learning from mistakes, and transforming cri
2. INTRODUCTION
Businesses are rapidly looking to the
Emerging Markets as centers for growth. So
how do we successfully lead the “new”
workforce ? How do we prepare leaders to
face workforce challenges that are still being
defined? How can we best understand the
context of leadership and prepare leaders
accordingly?
3. HIGHLIGHTS
Today, we will be addressing 2 topics :
1. Who is tomorrow’s
employee ?
(knowing the employees)
2. How do you prepare
yourselves as leaders for
the Emerging Markets ?
(adapting your approach)
5. What are the demographic factors shaping the workforce?
What are the cultural factors shaping the workforce?
What are the social factors shaping the workforce?
What are the motivating factors behind their ambitions?
What shaped their understanding of how an organization functions?
Hence ..What do you need to adapt in your leadership approach?
To discoverwho the “new” workforce is and
why they are unique, you need to answer...
6. THE EMERGING MARKETS
8 Key People Trends
1) Collectivism over Individualism
2) Family vs Corporate mentality
3) Youngerpopulation
4) Informal vs Formal learning
5) Educational experiences of recent generations
6) Leaderhierarchy
7) City life vs Rural life
8) Diversity in classes of people
7. 8 KEY PEOPLE TRENDS #1
Collectivism over
Individualism
Strong, cohesive groups
Protect each other with
unquestioning loyalty
Herd mentality
8. 8 KEY PEOPLE TRENDS #2
Family vs Corporate Mentality
Businesses traditionally run
by families
Typically paternalistic and
autocratic
Based on informal social
network and family
connections
Need to evolve into a culture
of performance based on merit
9. 8 KEY PEOPLE TRENDS #3
YoungerPopulation
Emerging markets - the youngest
populations in the world
Tendency of young workforce to
put self over work – immediate
gratification is the order of the day
Need to keep them constantly
engaged, motivated
Harness their energy & insatiable
appetite for learning
10. 8 KEY PEOPLE TRENDS #4
Informal vs Formal Learning
Historically - informal learning,
family discussions and social
interactions
Current trends – online courses,
seminars, webcasts
Provide coaching on current
learning trends – linking learning to
attainment of career aspirations
Create a culture of individual
ownership for learning & career
development
11. 8 KEY PEOPLE TRENDS #5
Educational Experiences of
Recent Generations
Literacy rates & educational
standards have risen
Ensure equal support systems,
promotional & global opportunities
are provided
Recognize local contributions &
achievements regardless of
language barrier
12. 8 KEY PEOPLE TRENDS #6
LeaderHierarchy
Due to historical reasons, tendency
towards direction-centric leadership
mentality
Local leaders to be more open
towards delegation of authority &
empowerment as well as inclusion of
workforce in decisions
Critical to re-condition workforce to
embrace ownership & accountability
14. 8 KEY PEOPLE TRENDS #8
Diversity in Classes of People
A new middle class is rising from
poverty
Objectivity & transparency in leading a
well-heeled workforce who will not
hesitate to assert their rights
Need to reflect on what it means for
talent attraction, recruitment, retention
and development.
15. How can you, as Leaders, manage
more effectively in emerging
markets?
16. How can you, as Leaders, manage more effectively
in emerging markets?
Set an Example
NeverStop Teaching
Allow Juniors to Learn from Mistakes
Make sure they learn fromtheirFailures & Successes
TransformCrisis into Opportunity
Set an Example
A Manager’s words, deeds, temperament, charisma and standards are powerful role models for their teams. In a market where companies are struggling to assert themselves amid rapidly changing conditions, people look to leaders for guidance and inspiration. Hence it is doubly important that Leaders understand their style while at the same time exemplifying the company’s values in every move they make.
Never Stop Teaching
In emerging markets, where companies are growing & evolving at an accelerated pace, open-ended learning is crucial. Seniors should continuously harness their experience and expertise to mentor junior team members – help them find practical, effective solutions for the challenges they are facing at work. In addition to formal learning, employees should be systematically rotated amongst various functions & roles (projects/critical tasks force/new products development/ mergers etc) to broaden their knowledge of the business continuously.
Allow juniors to fail
Let employees shoulder setbacks and tough experiences – let them learn how to work through conflicts with superiors, subordinates, peers, clients etc. as these are inevitable challenges especially in a rapidly changing environment of an emerging market. Studies have shown that employees who have experienced setbacks and failures tend to have stronger willpower, a more positive outlook on life and greater empathy for others.
Make sure they learn from their Failures & Successes
When things go wrong, ensure mentors or coaches are ready to help employees confront and draw lessons from their mistakes. Introspection is critical for learning to be effective. There is a big difference between talented employees becoming discouraged or feeling that they have grown from the experience.
Transform Crisis into Opportunity
Immature markets can get tough on companies, hence take the opportunity to include employees in dealing with difficult situations eg. Involve them in the planning & execution of a layoff, restructuring of a division/business unit and other critical management decisions.