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Priscilla is a partner at Signium Brazil and member of the Consumer Goods, Retail, Education and Assessment practices. She is also member of the Coaching practice, being a Certified Coach (ACC – Associated Certified Coach), by Escola de Coaches Eco...
Even in a period of conflict, whether it be regional wars or trade wars, multinational organizations continue to march forward globally. More than ever, next generation leaders need international experience to stay ahead of new challenges.
In today’s hyperconnected world, global trade is the norm and international mobility is common. Even local markets are being rapidly transformed by migrating populations and growing tourist trade. In the digital marketplace, online shoppers of different nationalities and persuasions transact seamlessly with foreign businesses through networks of global third parties.
While recent upheavals in global security and trade threaten to disrupt this status quo, emerging trade deals and ongoing peace negotiations bring hope of a return to stability. Still, market uncertainty and a more complex geopolitical landscape add to the strategic challenges multinational organizations already face, both in engaging multicultural consumers and running their regional businesses successfully.
Leaders with international experience are more important than ever, typically outperforming their single-market peers when it comes to:
Priscilla Batistão, Partner at Signium Brazil, sums up what this means for next-generation business leaders:
“Future leaders will be expected to deliver winning strategies and perform effectively across highly disparate, multicultural markets, even in uncertain global conditions. So, multinational corporations are placing far greater value on leaders with international experience.”
In fact, not having international experience on their resume could one day raise questions about a leader’s professional viability, and personal career advancement, in multinational settings. It follows that next-gen leaders should view gaining international experience as a key milestone in their career plan.
In terms of remuneration, sooner is better. A 2021 study by researchers from the Department of International Management and Strategic Management at ESCP Business School in Berlin and published in International Management Review found emperical evidence that CEOs who served abroad early in their career were better compensated than those who did so later.
“Working in global markets not only promises a desirable competitive advantage for organizations but also a material career boost to leaders who take the plunge as soon as possible,” says Batistão.
Even so, the timing of a next-gen leader’s first venture into a foreign executive assignment is subject to a range of critical variables – personal and professional. Before striking out, they need to:
“In a corporate environment, leaders may be deployed to a foreign region with little say in the matter. But, whenever possible, they should think strategically about the timing of their global move and how profoundly it may or may not benefit their personal and career goals,” advises Batistão.
Careful preparation and planning will help an executive maximize their gains and ensure they hit the ground running upon arrival in their new environment. They should focus specifically on the following:
After starting work in a new region, executives inevitably have to deal with the practicalities of leading in a business environment where things are done either somewhat or a whole lot differently.
International experience is not the end goal; it is the catalyst to something greater. Working in France for two years does little to help an executive lead in either Germany or Spain. Although they are direct neighbors, their cultures, languages, and business outlook couldn’t be more different. So, what does the executive really gain from their learnings, and how does this make them a better leader?
“It’s not just what they have learned, but who they have become that makes international experience so worthwhile and invaluable,” explains Batistão.
Unlike their predecessors, next-generation leaders will operate in a new reality where even local is global, and cross-cultural management takes place every day. They can’t leave their success to chance, and gaining international experience will instill in them the personal qualities and professional brilliance they need to stay ahead of the curve. It will take careful strategic planning, preparation, and execution to make sure each step in their quest bears optimal results.
Batistão notes that mentoring and coaching are the secret to many a global leader’s professional success. ”They don’t have to do it all by themselves, and it doesn’t have to be like diving into an icy lake,” she says. “Mentors and coaches who have spent decades accumulating leadership experience abroad can provide them with a head start.”
Better long-term compensation, faster career advancement, and the opportunity to demonstrate uncommon value are all strong motivators for next-gen leaders to earn their stripes in foreign lands.
Conversely, not gaining international experience could put them behind professional and business competitors who take the initiative. In the words of the late basketball coach, Ed Macauley: “When you are not practicing, remember, someone somewhere is, and when you meet them they are going to win.”
Batistão concurs:
“A next generation leader is a person who acts now, so when it comes to promoting them or someone else to a global leadership position, they will be the one who wins.”