I thought I’d share with you three things I’ve learned in the last week.
Emerging is trending.
In 1980, emerging market economies accounted for 21 percent of global revenue. By 2013, this proportion had almost doubled to 41 percent. By 2025, we expect more than 45 percent of Fortune Global 500 companies to be from emerging markets.
The war for talent intensifies.
There is a global generation gap. Today, the median age is over 46 in Germany and over 36 in the U.S. On the other hand, it is 27 in India and 18 in Nigeria. This gap will lead to global migration with aging societies in the developed world competing for talent from the emerging markets. In short, it will become imperative for businesses in developed markets to adopt a global, not local, mindset. An inclusive culture and flexibility in the workplace will be the currency of choice. If you want to move ahead, be willing to compete for talent.
Diversity is a business imperative.
A recent survey by Ernst & Young reports that almost 9 out of 10 companies surveyed believe that the problems confronting them are so complex that teams are essential in creating solutions. Too, companies with diverse teams (both in terms of their backgrounds and geographies) experience higher EBITDA growth.