Forbes Magazine has published its annual Best Countries for Business ranking. For the second straight year Denmark has taken the No.1 spot.
Best Countries for Business:
1. Denmark
2. USA
3. Canada
4. Singapore
5. New Zealand
6. United Kingdom
7. Sweden
8. Australia
9. Hong Kong
10. Norway
Forbes analyzed business climates in each of 127 national economies, focusing on degrees of trade freedom, monetary freedom like the right to participate in free and fair elections, or freedom of expression and organization.
The Criteria
With the shrinking job market in the
Working with campus career counselors, I'm conducting workshops to help students apply their international experience to future goals by focusing on practical tips and advice on how to get started, what resources are available, how to manage expectations and set objectives. Using my original research from my book, Get Ahead By Going Abroad, real-life anecdotes and vast network of contacts with multinational companies and organizations, I provide practical and effective advice on:
- Packaging international skills in order to apply them to the current global business trends and the needs of potential employers
- Devising a plan for an international job search, managing expectations and setting objectives
- Determining which markets, industries, and companies are ‘hot’ right now, networking, and cover letter & resume writing tips
Companies value international experience and, after a few years in another market, these globetrotters could return to the
If you're interested in more information or having me conduct this workshop on campus, contact me StacieNBerdan@aol.com
Interest piece on integrated leadership vis-a-vis gender issues. Ginny makes some interesting points about the importance of a balanced masculine/feminine
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It's being called the ultimate outsourcing: Americans looking for jobs overseas. With IBM's recent announcement of Project Match -- in which the company actively encourages employees to take their pink slips and apply for jobs in China, India and Brazil -- more companies are sure to follow suit.
Some people are outraged. Some are scared. Others who understand the value are supportive. To be sure, today's current economic climate is a serious force to be reckoned with. But rather than curse the storm clouds overhead, American workers would be well-advised to see this challenging moment as an opportunity to reap the rewards that others have for decades: By looking beyond their own borders to gain valuable experience overseas.
Make no mistake about it: American intellectual capital is still considered some of the best in the world, which is why IBM and other companies are willing to incur the expense of sending their people overseas. Those that accept will be rewarded with more than just a roof over their head and a weekly paycheck. The extraordinary personal and professional growth that takes place when living in a foreign culture can be cashed in on future career opportunities -- like when the U.S. economy rebounds and companies need employees who can operate effectively in the international marketplace. When that happy day finally comes, those who have proven that they know how to work across cultures will be prized commodities.
And working abroad does not only mean working for American companies. There are hundreds of large, foreign companies that offer tremendous opportunities. This role reversal may seem scary, but it reflects the future of global commerce. Now is not the time to be afraid of the global marketplace but to embrace it.
Yet picking up and moving yourself and your family to a strange new land is a daunting proposition. Americans must be able to adapt to succeed and, with a bit of caution and a lot of research, many will take the deep dive.
And yes, you can do it even if you're married -- I was -- and have children. And trust me, you'll be doing your children a favor: by the time they enter the workforce, a global mindset will be expected.
Last but certainly not least, living overseas can be fun, interesting and exciting.
So if your employer offers you the opportunity to work abroad, be it as part of a promotion or an "or else" proposition, think twice before you say "no." Not only might it be the best offer you're going to get -- it's probably a whole lot better an offer than you think it is. And who knows? It just might be the best career move you ever made.
The Expert:
Stacie Nevadomski Berdan, international careers expert and co-author of Get Ahead By Going Abroad: A Woman’s Guide to Fast-Track Career Success (HarperCollins, 2007).
About this time every year, millions of us take some time out to relax, refresh and reflect... on the year just ending, on our current state of being and on what we want to achieve in the year ahead. As a work in progress myself, I have always found this reflection time important and I try to make full use of it.
In 2008, I wrote in this space about trying to "do less" and "enjoy more." How'd I do? Well, while I was still very busy at work, I did do much better outside the office. I spent less time running around and more time just hanging out. While still busier than "the average" perhaps, 2008 did see me accepting fewer engagements, making fewer play dates, reducing my work travel, etc. All this made for more time to just be -- with my family or with a book.
Most importantly, I began to really enjoy "being." In fact, by about mid-year, I'd decided doing less was really quite a good thing. Clearly, being overly driven and programmed was not the short cut to happiness for me. And it only took me 40 years to figure it out! So, even though not perfectly executed, I found my 2008 resolution adding a lot to my overall quality of life. I'm grateful for that and hope to make even more progress down my road to happiness in 2009.
Yes, amidst the gloomy outlook, I am looking for a silver lining. In these uncertain economic times, we are all no doubt looking for ways to save more and spend less. For me, that backdrop is perhaps ideal for what feels like the next natural step after learning to do less and enjoy more. That step is as Sheryl Crow so aptly put it "not having what you want but wanting what you've got."
I've always loved this phrase but recently I've been thinking about it more and more. Let me say here that for all those reading this who may have lost jobs or houses or even worse, loved ones, this past year that I understand that I am truly lucky not to be in that position. I am blessed to have all the basics well covered for myself and for my family. And, I'm lucky to be working for a solid ethical company that I am confident will still be in business next year and next decade. For those who did suffer a major loss this past year, I am truly sorry. My heart goes out to you. You have every reason to be sad or hurt or angry or all of the above.
But, for those people who are, like me, poorer as we exit the year but still doing okay, 2009 may be our best chance to bring Sheryl's words to life in our own lives. Instead of complaining about what we don't have or can't afford this coming year... think about what would happen if we wanted what we had? Wanted our families, even that weird uncle or bossy grand mother... Wanted our jobs, despite long hours, limited advancement opportunities or difficult bosses... Wanted our houses, even without the addition or the new bathroom... Wanted our bodies, just as is, as long as they are healthy... Wanted the clothes we already own, even if they aren't the latest fashion? Think about it. Think of the power of it!
It may not help our consumer driven economy but then again, I think we need to change our dependence on consumer spending anyway. Wow! What a difference that would make and how much more time we'd all have if we weren't always shopping or spending money -- time to enjoy our families, time to help those not as fortunate or time to learn something new, by borrowing a book from the library so we don't even need to buy anything!
That may or may not appeal to you, but it has a lot of appeal to me. So, in 2009, that is my resolution. To stop longing and/or shopping to get what I want and to start wanting and using what I've got. To be happier even without having more.
Of course I'm not going to succeed completely. I'll no doubt find something, sometime, I just "have to buy." And I'll no doubt find my spouse or family or colleagues lacking in some major way at some point during the year. But that's ok. That's natural. Like 2008, it's not about being perfect. It's about making progress. Every bit of contentment gained would be a step in the right direction. And, in a year where spending less and saving more will likely remain on all our minds, wouldn't it be great if we could feel just a bit better about that and do something positive with it? Haven't we clearly voted for change? A new mindset for the New Year?
This is another change we can all do -- no matter our location, profession or religion. You can do it. And I'm certainly going to try. Even a little change can mean a lot in tough times... And I, for one, have no interest in spending 2009 complaining about all that has gone wrong. I'd much rather focus on fixing things and trying to be happy. No politician or CEO -- no matter how good -- can make that happen for me. It's up to me to do it for myself. What about you? How do you want to spend your year and what are you willing to do to make that a reality?
Originally appeared on Huffington Post, Dec. 30.
What does a company that operates globally expect of today’s graduating college students? Such companies need managers and leaders with an international perspective to drive further growth in China, India, Brazil, Russia, the Middle East, South Africa and Eastern Europe.
DuPont describes itself as as “the world’s most dynamic science company, creating sustainable solutions essential to a better, safer and healthier life for people everywhere.” DuPont produces 65 percent of its sales outside the U.S. As one of the top three U.S. exporters, DuPont has sales teams and manufacturing assets in hundreds of nations. Among its senior executives, 70 percent have lived and worked outside their home country.
Diane Gulyas, Group Vice President of DuPont Performance Materials, can provide a specific example of how globalization has changed the way DuPont does business. That change illustrates the skills the company now needs. Gulyas explains that one of her current businesses, Engineering Polymers, is helping expand the Indian Railway, a complex system of tens of thousands of rail miles.
“This opportunity does not exist in the United States. It could easily have been overlooked by U.S. executives unaware of India’s heavy dependence on the rails and the nation's rapid economic growth,” recounts Gulyas. “Our team in India spotted the opportunity, then worked with a DuPont technical team to develop the right product for India. That multimillion dollar growth potential would not have come to pass if our teams lacked on-the-ground experience and presence as well as knowledge of technological advances.”
Sounds simple, but opportunities like this are overlooked by companies every day. Gulyas, who manages a multibillion dollar unit at DuPont with a team of 7,500+ employees around the world, values international experience. She herself worked for five years in Europe at a mid-point in her career. She credits that mind-broadening experience as the driving force that catapulted her to the senior executive spot she holds today.
“Because our industry is global, it’s not possible to have a U.S. career anymore, says Gulyas. “If you want to move ahead, you must be willing to go abroad, and you must be passionate about business beyond U.S. borders. To succeed, you must be able to lead, motivate and manage global teams.”
DuPont recruits MBAs and PhDs. International experience plays a role, as do assignments abroad and language skills. Discerning students also need to focus on acquiring skills and experiences relevant to developing economies, not Western Europe. Gulyas emphasizes that campuses must expose today’s students to an interconnected global marketplace. Students’ intellectual curiosity about other cultures, countries and ways of thinking should be encouraged.
As originally appeared on www.GreentreeGazette.com.
Mercer conducts the survey every three years to provide an overview of expatriate policies in large multinational firms.
According to its report, 47 percent of companies surveyed said they had increased the deployment of traditional expatriates (employees on 1-5 year assignments) and 38 percent reported an increase in ‘global nomads’ (employees that continuously move from country to country on multiple assignments).
“The growth has been driven by companies’ desire to be globally competitive. To successfully launch new ventures abroad and gain advantage over competitors, companies generally bring in their own experts from other locations to lead projects on a short term basis, rather than rely on local talent,” said Robert Lockley, principal in Mercer’s international business.
“Increasingly these are corporate global nomads, seasoned professionals who move from project to project within the same multinational company. They bring solid experience in transferring knowledge, and a consistent approach.”
Mr Lockley continued: “Multinationals highlight that international assignments are part of their global leadership development programmes. Gaining experience in various geographies is becoming an essential step on the career ladder of international firms.”
The majority of companies surveyed (86 percent) consider benefit provision for expatriate employees a medium or high business priority.
However, 26 percent admit to having no overarching policy for providing expatriate benefits.
According to Mr Lockley: “Establishing an international policy is essential to stay competitive, maintain geographical consistency and control costs. Even against a backdrop of economic uncertainty there is still competition for the best talent. Companies that are lax in this area will lose out.”
When asked to rate the success factors for their expatriate benefits scheme, survey participants ranked supporting the company’s business and HR strategies the highest (63 percent).
Being valued by employees and remaining cost effective were also deemed important factors (both 59 percent).
However, the survey found that nearly two thirds of companies (64 percent) have no specific procedures in place to measure the success of their expatriate benefit programmes.
“Creating and maintaining benefit plans for expatriates is an expensive and complicated endeavour. By failing to assess the value of these programmes to the company or the employees themselves, many organisations miss the opportunity to improve their benefit offering and sharpen their competitive edge,” said Mr Lockley.
The majority of companies surveyed keep their expatriates in host or home country retirement schemes. However, 32 percent of companies offer international plans - an increase from 23 percent in 2005.
Close to three-quarters (73 percent) of companies with an international plan restrict eligibility to certain expatriates who cannot be kept in the home or host plan.
“More expatriates are going on multiple assignments across several geographies. Over time it becomes difficult for companies to justify the link to the office in the expatriates’ original home location when they have not worked there for many years. Also, swapping an employee from host scheme to host scheme is often an unattractive option,” said Mr Lockley.
“In other cases expatriates move to locations where retaining them in the home country pension scheme creates compliance and regulatory problems.”
He continued; ”In these circumstances, setting up an international scheme is often the most attractive option for multinational companies that want to provide pension benefits to their globally mobile employees.”
The majority of respondents provide medical benefits for their expatriates, whether via international plans or via home- or host-country plans.
However, more than 80 percent do not consider local social security provision when providing these benefits.
Mr Lockley said: “Multinational companies can achieve considerable cost savings by tailoring their medical plans to integrate with local social security provision. Although the data suggests few have yet to implement such plans, we see a growing number of clients actively exploring this approach.”
The majority of respondents cover their expatriates for death benefits (86 percent) and long term disability benefits are provided by more than three quarters of participating companies (78 percent).
North American companies are more likely to offer benefits at a cost to the employee, typically by way of deductibles or co-payments.