The majority of executives around the world say they are willing to relocate internationally for job opportunities in todayâ€™s tumultuous economy.
According to Korn/Ferryâ€™s latest “executive quiz,”Â 85% expect more job losses in the global labor market in 2009, and 78% expect unemployment to rise in Q4 2008. Given the perceived volatility in the labor market, executives report an extreme willingness to chase job opportunities around the world; 84% say they are willing to consider relocating, with 55% willing to move internationally for their next position.
â€œThis is a very dynamic time in the global labor market, and while the overall demand for talent will certainly rise over time, job creation may be in different locations than todayâ€™s talent pools are clustered,â€ said Sergio Averbach, President of Korn/Ferry International, South America.
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â€œIn countries such as Brazil, Russia, India, and China, the worldâ€™s fastest growing economies, itâ€™s not uncommon to see unemployment temporarily increase as labor supply and demand find a new equilibrium in such geographies and different industries,â€ said Averbach.
The results showed a contradiction when respondents were asked about their own companyâ€™s hiring plans. Nearly half â€“ 47% â€“ said their companies were hiring even in the current economic environment. Another 27% said their companies were in a hiring freeze. Only 26% stated that their company was currently downsizing.