According to CTPartners Executive Search’s recent report, emerging markets will be the place to be in 2012 for the healthiest salary increments. The search company also noted hiring demand for skilled local executives.
According to the company, “shortage of senior and specialised executive talent” against rapid growth of regional operations will spur salary inflation.
“Increasingly, management teams are developing strategic plans and business models to differentiate themselves from competition in emerging markets. To do so effectively, they will need to recruit and retain sophisticated senior leadership talent that can devise and implement their business strategies,” said Kathryn Yap, managing partner of CTPartners in Singapore.
“The ongoing demand for ever-more sophisticated and skilled executives means that compensation is being pushed ever upward,” added Pagan Van, managing partner of CTPartners in Hong Kong.
Commenting on the demand for local talent, Train Luo managing partner of CTPartners in China, said: “We are witnessing a trend towards talent localisation all across the Asia Pacific region. With almost every single new executive search mandate we oversee, the first preference will go to a local national candidate, and secondary preference to a regional executive with local language skills and cultural knowledge.”
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