MNCs eye local market hires, instead of expat pool, to drive strategic growth in S-E Asia

Trend is putting premium on top talent in rapidly growing region; with the six leading economies facing diverging fiscal paths in 2021, how firms look at regional HQs is changing

Angela Tan

Published Thu, Jan 21, 2021 · 05:50 AM

Employment

Singapore

MORE multinational corporations (MNCs) are increasingly turning to the local market, instead of the top expatriate talent pool, to find that special leader to drive their strategic growth in South-east Asia, and this is putting a premium on top talent in the rapidly growing region.

With South-east Asia's six leading economies - Singapore, Vietnam, Indonesia, Malaysia, the Philippines and Thailand - facing diverging fiscal paths in 2021, how companies look at regional headquarters is changing. Global recruitment and management consulting specialists said the complexity of managing across different economies and cultures cannot be underestimated.

"It is worth bearing in mind that the markets in South-east Asia are at different stages of development, some more mature and others emerging. It is a complex region, given the multiple languages, cultures, religions, compared to a single, more homogenous region such as China or India," Joanne Chua, regional client development director for Asia at …