Benchmark-it Session with Merck: Building Global Managers with Multi-Cultural Understanding and Holistic Talent Management Capabilities - Best Practice Institute
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Benchmark-it Session with Merck: Building Global Managers with Multi-Cultural Understanding and Holistic Talent Management Capabilities


Description

From a business perspective, it is imperative to ensure that organizational boards, leadership teams and employees are reflective of their markets. As shareholders continue to expect faster growth, higher return, and sustainability, companies need to have people leading and working in them that reflect their customers and the marketplace in order to understand and deliver solutions that meet their needs. Managing a global, multi-cultural workforce is a key capability to ensuring success. (Management includes both global and local people and processes.)

CONTEXT
The world’s human population is growing at a rate of 8,333 per hour or 200,000 per day, which means we are doubling approximately every 54 years. Our migratory patterns are also changing and growing, with more people moving within and to different countries and continents every year, which is causing significant demographic shifts. Simultaneously, some specific demographic populations are not growing or are shrinking, while others are booming. Within the U.S. for example, the Hispanic/ Latino population is now considered the 14th largest economy globally and growing tremendously year over year, while the US African American population is continuing to maintain its percentage of the total population and is not growing. In just a few decades, the current U.S. Caucasian majority will become the minority.