Global Survey of Recruiters Reveals Demand for Multi-Language Capabilities Among Senior Executives Will Increase
- Bilingualism Is Already “Critical” to Success in Europe, Asia/Pacific and Latin America, and Is of Growing Importance in North America -
Los Angeles, January 18, 2005 – The ability to speak more than one language is critical to succeed in business in Europe, Asia/Pacific and Latin America, according to nearly nine out of ten (88 percent) executive recruiters from those regions who completed the sixth edition of the quarterly Executive Recruiter Index. The survey was released today by Korn/Ferry International (NYSE: KFY), the premier provider of executive search and leadership development solutions.
Nearly 85 percent of recruiters in Europe, 88 percent of recruiters in Asia and 95 percent of recruiters in Latin America either “strongly agreed” or “somewhat agreed” that being at least bilingual is critical to succeed in today’s business environment. Among recruiters in North America, that percentage was just 34 percent.
Despite these regional differences, recruiters everywhere agreed that in ten years, it will be “more important than today” for executives to be at least bilingual (Europe – 74 percent; Asia – 72 percent; Latin America – 79 percent; North America – 66 percent). They also reported there is a “significant competitive advantage” for executives who are multilingual – i.e., speak more than two languages fluently (Europe – 66 percent; Asia – 52 percent; Latin America – 79 percent; North America – 49 percent).
In terms of which foreign language capabilities are in most frequent demand by employers, recruiters in Asia, Europe and Latin America overwhelmingly chose English when asked to pick up to three languages (88 percent). Recruiters in North America selected Spanish (79 percent), French (43 percent) and Mandarin Chinese (30 percent).
“These findings suggest that although English remains the dominant language of international business, multilingual executives clearly have a competitive advantage,” said Paul C. Reilly, chairman and CEO of Korn/Ferry International. “This will only increase with the continued globalization of commerce and the growing power and presence of emerging nations.”
The survey also looked at which types of jobs most frequently call for bi/multilingual executives. On a global basis, Consumer Products, Retail and Apparel (38 percent), Technology (34 percent) and Professional Services (31 percent) were most commonly cited by respondents, who were asked to select up to three industry sectors. As far as the functional areas where bi/multilingual executives are most frequently needed, Marketing and Sales (37 percent), President or General Management (23 percent) and Chief Executive Officer (14 percent) topped the list.
Recruiters’ responses were mixed when asked which is more advantageous for an executive: being bi/multilingual or having an advanced degree (e.g., MBA, law degree, Ph.D). In both Europe and Latin America, more recruiters selected “being bi/multilingual” (Europe – 42 percent; Latin America – 58 percent); in North America the top response was “having an advanced degree” (63 percent); and recruiters in Asia said it “depends on the industry/functional area” (40 percent).
Methodology
The Executive Recruiter Index was based on a quarterly survey of 185 Korn/Ferry International consultants, who serve the world’s largest corporations and non-profit organizations. This survey was conducted online within the Americas, Europe and Asia/Pacific between October 27 and November 11, 2004.
About Korn/Ferry International
Korn/Ferry International, with 70 offices in 35 countries, is the premier provider of executive search and leadership development solutions. Based in Los Angeles, the firm partners with clients worldwide to deliver unparalleled senior-level search, management assessment, coaching and development, and middle management recruitment services through its Futurestep subsidiary. For more information, visit the Korn/Ferry International Web site at www.kornferry.com or the Futurestep Web site at www.futurestep.com.
