Asian Executive Careers: Key Trends

By Richard Mills

Jobs Vacancy, Job vacancies, Employment Jobs

Regional Integration

The entire GDP of Philippines or even Singapore is about one-fourth that of Paris or Dallas-Fort Worth. Despite their fast economic growth, countries in Southeast Asia are still small and need to work together to be noticed in a global environment.

Rather than employ Country Managers for single countries, more companies assign managers to handle multiple countries in a hands-on operating capacity. Dividing time among 2 or 4 countries gives an adequate return to the employer and a more significant opportunity to the manager. The only downside is extra wear-and-tear on managers due to increased travel requirements.

Head Office Relocation

Beginners to Asia, generally choose to locate regional offices in the established commercial centers of Singapore and Hong Kong where work environments and lifestyles are similar to world standards. Companies with regional management teams who are more experienced in the region are becoming transferring themselves and their operations to cities like Kuala Lumpur, Bangkok and Manila that are less developed.

Cost savings is one important reason behind the move since a correctly executed relocation can easily save half the operating costs of running a regional head office.

Another more strategic reason behind the trend has to do with economic growth. It is reasonable to say that the bulk of the opportunities in Asia are in countries where the bulk of the population lives. Relocating a head office puts senior staff in better touch with prospects as they unfold.

Asia Becoming Valued

For most multinational companies, Asia currently accounts for less than 15% of total revenues but a disproportionate share of its growth.

Most global managers see slower growth ahead in so-called advanced economies. Countries in Asia were taught tough lessons about fiscal prudence during the Asian Crisis of the late 1990's and are now poised for strong sustainable growth in the coming years. This has not escaped the notice of multinational companies and Asia will be a focus for future investment.

Rise of Asian Multinationals

Companies in Asia are comparatively cash rich. As a result, they are in a better position to expand their operations as some hard-hit multinationals pull-back or sell operations.

Asian companies that in the past may have invested their funds in the west, today feel there are better opportunities closer to home. The result is that Asian companies are becoming realistic career opportunities for experienced international managers.