Multinational enterprises (MNEs) often fail to identify, develop, and deploy leaders who are globally ready to lead in a new environment, thus increasing the likelihood of poor performance once deployed. Global leader readiness (GLR) refers to a leader’s preparedness for meeting the challenges specific to leading in a global context. These challenges include communicating and setting expectations with people from different cultural backgrounds, integrating into new foreign cultures, and leading a global business expansion while managing international political and economic risks. The Global Leadership Forecast 2014|2015, which surveyed 1,344 mid- to senior-level leaders and representatives from corporate HR, identified three key talent management practices that can be used to increase global leader readiness:
While each of these best practices individually result in incremental improvements, our study shows that the combination of practices results in even more significant gains. And the companies with top Global Leader Ready scores achieved substantially higher return on investment over the past six years. Read the full article to learn more about how global leader readiness impacts the bottom line and what actions can improve GLR in your organization.