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How EY can Help
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2. Grow talent from within to build a sustainable talent pipeline
International companies may adopt short-term tactics to help acquire or develop talents who can be more adept at understanding the differences in work cultures. These include hiring local talents from the Mainland with an educational background from Hong Kong or overseas, or putting in place a short-term rotation program to expose the workforce to different GBA market environment and work culture.
In the longer term, international companies need to rethink their overall employee value proposition (EVP) of the GBA to make it appealing to local talents and achieve a sustainable talent pipeline. Companies setting up operation in the GBA can consider the following when defining a strong EVP:
- What EVP elements (e.g., management style, reward strategy, work nature, company’s market position, career opportunities) are integral to who you are as an organization and, as a result, should be applied to the GBA?
- What EVP elements would set the company apart from competitors and should be emphasized externally as well as internally?
- How can EVP elements be delivered so that the external employer branding is aligned with the internal experience?
3. Enable international leaders to succeed in the GBA
In many cases it is crucial for international companies to task experienced leaders or managers to spearhead their GBA expansions. These leaders will play an integral role in ensuring the organization’s purpose, values, culture, and objectives are inherited in the new operation. However, the challenges that come from relocation/long-term assignment are often underestimated, leading to poor business performance and significant stress in the assignees.
Making use of talent assessment and talent development programs, companies can ensure candidates are:
- Aware of the potential disruptions that come with the assignment, e.g., being away from friends and family for a long time
- Prepared for the new challenges and develop a growth mindset and resilience
- Equipped with cultural sensitivity and open to experimenting with new ways of interaction and communication
- Supported with learning resources, coaching and feedback prior to and during the assignment