June 11, 2014

Asian Companies Increasingly Expand Overseas

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Jun

11

Asian Companies Increasingly Expand Overseas

Mobility in Asia is at a turning point. Asian-grown companies are now major players in international business, expanding into new markets outside the region. This comes with a host of challenges when operating across borders, such as:

• Adapting to unfamiliar cultural nuances
• Relocating from low- to high-cost locations
• Moving senior leaders who may lack an international outlook
• Transitioning from a local to an international corporate culture mindset

Reasons Asian Companies Are Expanding Outside Their Home Base

There are a number of key reasons why Asian-grown companies are looking to expand into other parts of the world, searching for new opportunities overseas, absorbing rival networks, and accumulating know-how, such as:

• To grow market share
• To access new technology
• To expand their range of products and services

In a recent speech, Singapore’s Prime Minister Lee Hsien Loong urged Singaporeans to seek opportunities to work overseas—even in challenging locations—to gain valuable experience and become better business leaders. Far from trying to encourage a brain drain from Singapore, Mr. Lee understands the importance of overseas experience in enriching leadership talent.

Asian companies are in the early stages of outsourcing relocation support for their employees, but a growing number are reviewing and formalizing their mobility policies and programs to ensure that their workforces gain key international business experience and valuable exposure to other cultures.

Cartus’ Top 5 Mobility Tips for Companies in Asia

Organizations in Asia turn to Cartus for expert, cost-efficient guidance in all areas of relocation. Here are some of our top tips to assist them:

1. Develop a comprehensive and effective Relocation Policy. Utilize Cartus research and benchmarking reports for guidance.

2. Call on our expert assistance with relocation outsourcing, which will allow you to focus on your main business.

3. Give careful consideration to the specific nuances of emerging markets to ensure that international assignees are fully supported when relocating to a new emerging destination.

4. Ensure that you have effective on-the-ground support at each destination location. Research the location and call on our expert guidance for support.

5. Take advantage of our specialized intercultural and language training services to provide your employees with the skills and mindset to meet the complex and changing needs of a global business.

Picture of Michelle Low

Posted By

Michelle Low

About Michelle

Michelle is Director of Strategic Business Solutions with responsibility for business development in Singapore and Hong Kong as well as Asia Pacific regional opportunities.

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