Novartis and EFMD share research and ‘best practices’ for developing and managing talent in emerging markets.
Novartis Corporation and EFMD recently hosted a leadership and talent development workshop in Basel, Switzerland. The event brought together learning leaders from different industries and corporate business schools. Together they shared best practices for leadership and talent development in emerging markets.
“EFMD is about excellence in international corporate learning and development organisations,” says Richard Straub, Director of Corporate Services & EU Affairs at EFMD. “Why is this necessary? Because according to surveys, learning and development is not seen as important as it truly is. The challenge, then, is to clarify this misconception and demonstrate its value to companies.”
And that is exactly what the consortiums did. Key speakers included Stephen H Rhinesmith, PhD. (Oliver Wyman Leadership Development), Betty Lau (Director, Novartis China Commercial University), Victor Agnellini (Senior VP, Alcatel- Lucent University), Michael Fuerst (Manager, Corporate Citizenship, Novartis) and Frank Waltmann (Head Corporate Learning) with participation from other experts in the field of emerging market talent acquisition, training and retention. They shared the latest research and their first-hand experiences about leadership development in the BRIC nations and other emerging economies.
2012 emerging market economics and talent trends
Focusing on the BRIC countries, there are key factors at play in emerging economies that impact corporations and their learning organisations. Over the course of the workshop, several trends were identified and discussed.
Emerging markets are not bystanders. Over the next 15 years, emerging markets will not be a place where you just sell your products but also a place that develops products and companies that compete with you and your markets. GDP is expected to double over the next 20 years and 500 million people will move to urban centres by 2025. And there is a high correlation between urbanisation, innovation and education. Projections indicate there will be 500 million people in markets who will be resources, as well as competitors, on the global stage.
Emerging markets need leaders now. At present, there is a talent crisis in emerging markets.
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