2013 HCI Global Talent Management Summit Part 5: The Essential Attributes of Global Leadership
What does globalization mean for leaders? Does the definition change depending on one’s culture? Jennie Walker Ph.D., Director of Global Learning and Market Development of the Najafi Global Mindset Institute at the Thunderbird School of Global Management, presented on the essential attributes of global leadership today at the 2013 HCI Global Talent Management Summit. These leadership attributes, dubbed the Global Mindset, are the results of an extensive research project including data from over 14,000 managers from firms located around the world moving past simple cross cultural intelligence to maneuver efficiently in differing institutional, legal and social contexts.
In 1990, there were about 3,000 MNC’s operating in the world. A mere 20 years later that number grew to 80,000 MNC’s with 800,000 affiliates, and today there are more than 100,000 MNC’s worth more than $57 trillion. Walker identified two key challenges to developing a Global Mindset for firms: global executive readiness of the business unit/company to expand and a shortage of global leadership talent, and she shared some eye-opening statistics.
- 93% of surveyed HR executives believe that their business leaders have cost the organization revenue due to lack of intercultural skills.
- Over 60% of global leaders considered their own preparation as poor or fair
- Almost 50% viewed the support from their own corporations as poor or fair.
What does global leadership require? Walker stated global leaders need to be better influencers. Leaders need to be capable of influencing individuals, groups, and organizations inside and outside the firm representing diverse cultural, political, and institutional systems under VUCA conditions. “It’s about having a global passport in your head, moving fluidly across cultures,” Walker shared with the attendees.
The Global Mindset promoted by Walker breaks down essential global leadership attributes across 3 areas: Global Intellectual Capital, Global Psychological Capital, and Global Social Capital, and identifies specific traits to identify and develop in leaders. She also prescribes learning for leaders to be segmented into cognitive, humanistic and social learning. In summary, business is globalizing and global leadership will require a specialized skill set. Walker laid out a clear plan of how firms can prepare, measure, and develop the Global Mindset which can drive both business impacts and outcomes for those who are ready to listen and apply these lessons.
We are about half way through day two at the 2013 Global Talent Management Summit, and there is a lot of great content coming up. For members who were unable to attend in person, feel free to follow us on twitter (@Human_Capital) and watch for tweets with the hashtag #hcievents.