A global survey of 237 senior executives reveals 73 percent anticipate that companies in Russia and Eastern Europe, facing a shortage of top executive talent, will hire expatriates to fill key executive roles. The survey was conducted from 10 July ñ 3 August 2007 by BlueSteps.com, the career management service of the Association of Executive Search Consultants (AESC).
Respondents were asked, ìHow will Russia and Eastern Europe deal with the executive talent shortage affecting the region?î
Results were as follows:
Hire expats to fill key executive roles ñ 73%
Train younger local talent to fill executive roles ñ 27%
With the growing affluent consumer class and potential for high returns, Eastern Europe and Russia have become the latest market targets for multinational companies. As a result, multinationals are competing with local businesses for scarce executive talent. Many multinationals are bringing in their own executives and hiring locals as entry and mid-level employees.
ìThese countries have reached a critical stage in which they require strong talent to make them global economic players,î noted Peter Felix, President of the global Association of Executive Search Consultants (AESC). ìThe question is where will that talent come from? While Russia is developing a younger ëgolden generationí, top talent is still in short supply.î
Respondents were from the following regions: North America (60%); Europe (22%); Asia Pacific (10%); Latin America (4%); Middle East (2%); Africa (1%); and other (1%).
73% of executive expats to fill top jobs in Russia and Eastern Europe
Only 27% of Respondents Anticipate Local Talent to Take on Key Jobs as Region Competes on Global Stage
