1 Adopting an Asian Lens to Talent Development 2 nd Annual Evolving Corporate Universities Asia Forum 5 June 2012 Winnie Ng, Community Business

Introduction 2

A unique non-profit organisation, working with member companies in Corporate Social Responsibility (CSR) Key focus areas: CSR Strategy Diversity & Inclusion Work-Life Balance Corporate Community Investment Introduction to Community Business 3

An Initiative of DIAN 4

Adopting an Asian Lens to Talent Development 5

Asia = Critical Growth Market 6

The War for Talent in Asia and the Leadership Gap in Asia Competition from local companies ‘Right people’ with the ‘right skill sets’ Rapid rate of development “You have different cultures, languages, the East-West dynamic – all these complications that managers have to be able to negotiate. The people who can handle all of this are few and far between.” Professor Stephen Dekrey, Associate Dean at Hong Kong University of Science and Technology “The high growth rates are forcing leaders into managing more people, broader spans of responsibility, sooner in their careers. That does expose some gaps as they arrive at these leadership positions earlier with fewer years of experience.” Tom Monohan, CEO and Chairman of the Corporate Executive Board 7

Where Are the Asian Leaders? Import of foreign talent Disproportionate representation at senior levels Asian views not adequately represented at regional and global levels 8

Where Are the Asian Leaders? What does it mean to be Asian? 9

Where Are the Asian Leaders? * Number of Participating Companies: 10 10

Western Bias Concern Bias towards Western leadership models Disadvantages local talent Fails to appreciate strengths of local talent 11 – Overlooking Talent in the Pipeline

12 Need to Adopt an Asian Lens

CHINA INDIA HONG KONG Focus groups with local HR professionals Interviews with global leaders Insights from cultural experts Case studies from DIAN member companies Methodology 13

Key questions: 1.What are the characteristics of Asian talent? What specific strengths can they bring to organisational success? 2.How can companies more appropriately assess and develop leaders in Asia to make sure they are not overlooking key talent? 3.How can companies leverage Asian talent globally? 4.What can companies do to improve the cross- cultural competency of the whole organisation and thus increase global capabilities? Focus of Study 14

Part 1: Understanding Asian Talent Part 2: Appreciating Asian Talent Part 3: Leveraging Asian Talent Part 4: Expanding Cross-Cultural Competency WN The Report 15

16 Part 1: Understanding Asian Talent

Hofstede ‘Cultural Dimensions Theory’ GlobeSmart – 5 Dimensions of Difference Understanding Asian Talent 17

Understanding Asian Talent 18 “Based on your experience, in what ways do you understand Chinese/Hong Kong/Indian talent to be different from Western talent (eg US or Europe)?” “In your view, what are the top 3 strengths local talent in China, Hong Kong and India bring to organisationals success or leadership?”

Communication styles Concept of ‘face’ Importance of trust and ways of building relationships Working styles Family is key Motivators Key Differences 19

Language ability Regional and international exposure Highly driven and a strong will to succeed Strong technical and implementation skills Local network and relationships Humility, loyalty and respect Key Strengths – Hong Kong 20

Local knowledge Better understanding of local clients Self motivated with the ambition to succeed Harmony Good analytical skills Key Strengths - China 21

Ability to manage ambiguity and chaos ‘Thinking out of the box’ and entrepreneurial spirit Hardworking and ‘can do’ attitude Relationships Skilled at collaboration Key Strengths – India 22

Raises question: Understanding Asian Talent To what extent are the working styles, preferences, and strengths of local Asian talent taken into account as part of the talent assessment and development process in large MNCs? 23

24 Part 2: Appreciating Asian Talent

Appreciating Asian Talent Generally agreed that Asian talent is disadvantaged in assessment process Models rely on self-promotion and strong communication skills (in English) Demonstration of competencies that may not come naturally Rating criteria do not reflect stage of development or challenges of local market 25 In what ways, if any, do you think multinational companies need to adapt their approach to assessing Asian talent?

Important to have a global standard Need for competency models to better reflect local context Address the issue of visibility of talent Include Asians on your assessment panels Provide training for assessors and uncover ‘unconscious bias’ Appreciate different communication styles and approaches – looking beyond English language Build a solid and trusted relationship Be sensitive to the issue of ‘face’ 26 Recommendations

27 Part 3: Leveraging Asian Talent

Leveraging Asian Talent 1.Invest in Asian talent for the long-term 2.Give Asian talent greater global exposure 3.Provide targeted training and development opportunities 28 What kind of development programmes or opportunities do you think multinational companies should offer to put more Asian talent into the pipeline for global growth?

Recommendations 1.Invest in Asian talent for the long-term Proactively manage careers Assign coaches, mentors and sponsors 29

2.Give Asian Talent greater global exposure Assign local talent to lead regional or global projects Offer global rotations or job swaps Provide opportunities to share ideas at the global or corporate level Hold global meetings in Asia Facilitate ‘face-to-face’ meetings with visiting global executives Profile the Asia business Recommendations 30

3.Provide targeted training and development opportunities Provide formal development opportunities Customise training and development programmes Offer shorter mobility assignments Expand strategic capability Focus on development of ‘soft skills’ Recommendations 31

32 Part 4: Expanding Cross Cultural Competency

33 Expanding Cross-Cultural Competency “How can companies expand the cross-cultural competency of their global leaders – particularly with regard to operating in Asia?”

Recommendations 34 Send global leaders to spend time in Asia Hold global events and meetings in Asia Offer mentoring relationships between global and local Provide cultural awareness training Provide practical tips to guide behaviours

35 Concluding Remarks

1.Demonstrate long-term corporate commitment to Asia 2.Recognise the need for a targeted approach to talent development for Asia 3.Examine the data 4.Take steps to understand Asian talent 5.Uncover and reduce bias in the system 6.Identify targeted development programmes 7.Increase the cross-cultural competency of the whole organisation 8.Raise awareness and facilitate discussion Final Words of Advice 36

37 Q&A

38 Thank You Disclaimer: All information provided in this document is intended for discussion purposes only, and is not in the nature of advice. Community Business Limited reserves the right to make alterations to any of its documents without notice. All rights reserved. Community Business Limited ©2012.