EY Strategic Growth Forum™ session highlight
Talent – developing leaders in emerging markets
How do you make a local business leader a global one?
That question sparked a lively discussion today on leadership development in emerging markets. The panel featured leaders from Bayer, GE, Lenovo and Walmart.
In a live poll, 60% of Strategic Growth Forum China participants said their organizations have leadership development programs that help enhance executives’ ability to operate in different cultural environments. The panel agreed that active listening skills, curiosity about new technology and ideas, and understanding how people communicate in different cultures are critical skills global leaders need.
In the poll, 86% of respondents also said their organizations have emerging markets executives in their leadership succession plans. That planning has to start years in advance, panelists agreed, with plenty of opportunities for potential leaders to work across business functions and cultures, and to raise their profile with global leadership.
Three tips to turn local leaders into global leaders:
- Build trust with your local executives. Be honest about their development needs and opportunities. Give them mentors to guide them.
- When you invest in fast growth markets, consider putting in a bigger person than the role. Those markets will grow faster than any individual.
- Develop local talent in emerging markets with global growth in mind.
These insights are from a panel moderated by Bin Wolfe, Managing Partner, Talent, EY Asia-Pacific. The panelists were: Johannes Dietsch, President, Bayer Greater China Group and Chairman, Bayer (China) Limited; Heather Wang, Vice President, Human Resources - Global Growth Organization and Global Talent Recruitment, General Electric; Gina Qiao, Senior Vice President of Human Resources, Lenovo Group; Anne Myong, Senior Vice President and Chief Financial Officer, Walmart China.