Manpower Inc. (NYSE: MAN) Chairman and CEO Jeff Joerres will today discuss the impact of globalization on human potential in the year 2020 during the opening session of the Economist's Ideas Economy: Human Potential event titled: "Global Firms in 2020: The Impact on Managers and Workers" in New York City.
"As emerging markets come of age, companies will continue to localize the management of overseas operations, and expat managers will be used increasingly to learn best practices in corporate culture from foreign operations that are scalable across other markets--something that has already become standard practice at Manpower," said Joerres. "Savvy organizations will continue to leverage local managers however, as they have a cultural connection to the market that is difficult to instill in an international transfer."
The Human Potential Event brings together the world's top minds for captivating discussions on creativity, talent management and the future of work, challenging current thinking on what organizations of the future will look like. Changing demographics mean that serious challenges lie ahead for the global economy but can also present unseen opportunities for organizations.
"The importance of having management who possess a sensitive understanding of the nuances of--and issues facing--that particular market cannot be overstated," added Joerres. "A cultural connection is critical to understanding client needs, sourcing the best local talent, and successfully competing in an intense economic environment. Organizations that fare best will be those who efficiently strike a balance between valuable local knowledge and a global outlook."
At this year's World Economic Forum Annual Meeting, Manpower announced the four World of Work megatrends that are transforming where, when, why and how individuals and companies work. Deepening talent mismatches mean companies will need to compete as rigorously for talent as individuals currently do for jobs; those with scarce and in-demand skills will be able to exercise individual choice around which jobs they accept, forcing companies to reassess how they attract and retain talent; rising customer sophistication is putting businesses under pressure to deliver greater value and efficiency; and technological revolutions are changing where and how work is performed.
In order to ensure they can win the talent war, organizations must develop more flexible workforces while keeping fixed costs low--doing more with less. Contingent workers will be more widely used and it is important that they are fully engaged and committed to helping the company execute its strategy. The key will be for companies to treat contingent workers, as appropriate, as part of the team and make the company a place where all employees want to work.
"Managers need to increase employee engagement by allowing employees to make decisions and be responsible for their own success, giving honest and regular feedback, help employees develop their skills, and assign them projects that will allow them to achieve their career goals," added Joerres. For the employee's part, there must be increased individual responsibility for on-going skill development, hunger for life-long learning, and intellectual curiosity."
Joerres was interviewed and featured as part of an Economist Intelligence Unit report, titled Global Firms in 2020: The Next Decade of Change for Organizations and Workers. For more information about the Human Potential event, visit: http://www.manpower.com/press/potential.cfm
About Manpower Inc.
Manpower Inc. (NYSE: MAN) is a world leader in innovative workforce solutions; creating and delivering services that enable its clients to win in the changing world of work. With over 60 years' experience, Manpower offers employers a range of solutions and services for the entire employment and business cycle including permanent, temporary and contract recruitment; employee assessment and selection; training; outplacement; outsourcing and consulting. Manpower's worldwide network of 4,000 offices in 82 countries and territories enables the company to meet the needs of its 400,000 clients per year, including small and medium size enterprises in all industry sectors, as well as the world's largest multinational corporations. The focus of Manpower's work is on raising productivity through improved quality, efficiency and cost-reduction across their total workforce, enabling clients to concentrate on their core business activities. Manpower Inc. operates under five brands: Manpower, Manpower Professional, Elan, Jefferson Wells and Right Management. More information on Manpower Inc. is available at www.manpower.com.
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