skills

India is a country where GDP per capita is less than $1,500 a year, and where people have big aspirations and are often overqualified for their jobs.

So it comes as a surprise to read new research showing that Indians take more satisfaction in their work than their peers in the US, the UK, France and Germany. 

A visitor recently put it succinctly: “Why does everyone here want to be an engineer?”

It was an unwittingly incisive observation. Engineering is traditionally considered a “respectable” degree in India – a route out of poverty and into a well-paid job. But there may be fewer of those jobs to go round. 

A surge of remittances during the global financial crisis has helped to support the economies of some of the world’s least developed countries.

But a report published on Monday has underlined the high price such LDCs – including many poor countries in Africa – are paying for these transfers from migrants working abroad – a crippling “brain drain”. 

One might normally assume that big multinational companies hold a lot of advantages in emerging markets. Besides the financial clout and extensive supply chain options, they have access to the fabled global talent pool and management strategies honed through decades, perhaps even centuries, of experience.

However, research by management consultants Hay Group suggests that multinationals may be putting themselves at a disadvantage to domestic companies in emerging markets through their reluctance to decentralise management responsibilities, and let go of cherished strategies that work in home markets.