Studies have shown that multicultural leaders are better equipped to handle business challenges spanning your entire portfolio. Whether it's sorting part of your supply chain or revising your talent development / acquisition strategy, having a background rich with diverse experiences will better prepare you to make the right decisions for your business.
Your business operates in a global world, period. Regardless of your size or geographic headquarters, the boundaries that protected companies from external forces have melted away and leaders understand that an economic, political or social change in Mumbai will likely affect your supply chain in Memphis.
This means that leaders ought to be well equipped to handle the diverse experiences they’ll face throughout their careers. Having multicultural experiences will enable aspiring (and existing!) leaders to build the cultural sensitivities necessary to bridge cultures, and also to improve their ability to lead across borders.
A study published in London Business School’s Business Strategy Review found that companies who want to ‘hire and develop people who will become great multicultural leaders need to understand how to select, hire and develop such people’. Global mobility programs have been around for decades and over the last decade we’ve seen an increase in the number of junior employees participating in these programs.
Getting employees involved in multicultural experiences early in their careers will set them up to become multicultural leaders. Ensuring a smooth transition into their new country will set them up for a successful experience.
To learn more about MOVE Guides, our Policy Engine, and our managed lump-sum programs, request a DEMO today!