- Nick Elvin
Twenty-eight per cent of UK employees, or six million people, are now working in an internationally focussed role, according to new research by the Centre for Economics and Business Research (CEBR).
The study found employers are increasingly demanding that employees understand market operations and business cultures in foreign markets to help drive business growth – with nine in ten employers seeing employees’ international outlook, skills and experiences key to improving their bottom line.
Over half (55%) believe that, as a result of taking up international career opportunities employees become more engaged in their role, while 53% believe employees are more successful in bringing in new business opportunities.
Employers estimate that international experience increases an individual’s average gross earnings by 15% within one to three years, while employees at organisations which offer international career opportunities are, on average, likely to stay for almost four years longer than they would have otherwise.
The positive effect of a workforce with an international outlook is also felt by the UK economy, with the productivity increase associated with taking up a more international career estimated to contribute £9.4 billion (0.6%) in terms of Gross Value Added (GVA).
Overall the majority of employees (61%) who have international experience believe they are able to progress more quickly within their organisation, relative to those colleagues who have not had any international experience. This increases to 74% of employers who perceive that exposure to global markets enable their employees to progress more quickly in their career.
The skills gained by employees with global experiences include new foreign languages (46%), greater awareness of global economic and political issues (43%), increased awareness, tolerance and cultural sensitivity (64%), and the ability to be more flexible and adaptable to diverse problems and situations (64%).
Young women (aged 25-34) are driving the greatest demand for international career opportunities – with over half (57%) currently considering taking up a more international role (compared to just 29% of men). However, this figure drops as women hit 35-44, to just 16%. Overall nearly two thirds (65%) of employers expect demand for international career opportunities to increase over the next year.
The research, carried out in association with L’Oréal UK and Ireland, shows that while 51% of employers say the opportunity to achieve an international career is encouraged and incentives to do so are offered to employees, only 22% of employees agree. In addition, while 62% of employees say they speak to their employees about international opportunities, only a fraction (13%) of employees say this actually happens.
Shruti Uppala, economist from the CEBR, said: “The diversity of the UK’s labour market brings a broad range of benefits to the UK economy. Businesses benefit from a forward-thinking and diverse workforce equipped with international languages and cultural knowledge. This enhances the firm’s ability to conduct business in international markets which is critical for business growth. With a clear consensus among business decision makers that demand for international career opportunities will continue to rise, it’s vital that organisations resolve this communications gap or risk missing out on attracting the next generation of top talent.”