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The rapid advancement of technology has accelerated the necessity for companies to develop global Sourcing and Recruitment capabilities in order to access sustainable talent streams that will keep them competitive. But locating talent is only half the battle. There are a number of complex economic, cultural, and social forces that you need to consider and adapt into your Sourcing strategy in order to ensure your success. Adam will share several of his experiences that showcase both the need to be aware of and sensitive to many of the complexities as well as offer some practical perspective and advice to help you avoiding paying what he calls the “dumb tax.” He will also highlight the reality that, regardless of global location, the notion of “trust” underpins our ability to make inroads to and connections with our target candidates.
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Trust
Three Categories of Trust
Government (national & economic)
Organizational (brand)
Individual (relationship)
Francis Fukuyama
Fukuyama’s Theory:
On a macro level societies can be divided into two categories: low trust and high trust:
Fukuyama’s Theory:
Trust, Business, & Globalization
Globalization depends upon well regulated markets--the rule of law
These factors make businesses less willing to invest in a country--and works against globalization
High Levels of Corruption
Weak Property Rights,
Unenforceable Contracts
Unfair Legal System
Global Corruption
Source: Transparency International
The Inequality Trap
The Inequality Trap
The stability of trust, corruption, and inequality--and the strong interconnections among them suggests that it will not be easy to build up trust or to end corruption
To build trust, we need to focus on two key issues:
Inequality Globally
Source: UN Human Development Report
The Rise and Fall of a Computer Empire
1990 - Dr. Wang dies and his son Fred takes over as CEO
1980s - Wang annual sales reached $3 billion with 33,000 employees
1992 - Wang files for bankruptcy
1951 - Dr An Wang founded
“Trusters” Innovate
More trusting countries are considerably more likely to be innovative
“Trusters” Embrace Technology
Organizational (Brand)Trust
Brand Trust & Reputation
Companies spend substantial amounts of money to get your attention and gain your trust
Social MediaIn the world of social media = Trust
Corporations Don’t Always Get It Right
The Coca-Cola name in China was first read as “Kekoukela“, meaning “Bite the wax tadpole” or “female horse stuffed with wax”, depending on the dialect
Pepsi’s “Come Alive With the Pepsi” translated into “Pepsi Brings Your Ancestors Back From the Grave” in Chinese
Sometimes things go terribly wrong
Individual (Relationship)Trust
The Circle of Trust
Personal Communication
What’s Really Happening When We Communicate?
EVP Around the WorldTop 3 Attributes
To Build Trust
Deliver results “Do what you say” Act Selflessly
Act ConsistentlyExceed
Expectations
The Dumb Tax
Parting Thoughts
Don’t Rush In
Do Your Homework
Embrace and Celebrate the Differences
Adapt
THANK YOU!
APPENDIX
http://www.globaltalentbarometer.com
Wanted Analytics
www.wantedanalytics.com
Culture Wizard
http://rw-3.com
The Speed of Trust
