GUEST COMMENT: The new elite cadre of free-flowing global talent

A growing band of global professionals emerging to is driving both the recovery and future growth in emerging markets. But they are not the traditional expats; this new group are what I term the 'Global Nomads'.

These multi-cultural, global professionals can accelerate growth for international financial service organisations.

This group makes up 10-15% of most organisations' total workforce but they have a huge impact; they are eager to drive results, growth and the next wave of profitability from the emerging markets.

A move away from traditional financial centres

World demographics are changing. There is declining population growth in mature markets like Western Europe and the US, coupled with an aging workforce, while some of the emerging economies are both expanding and becoming more youthful.

Within ten years India will be the most populated country in the world, while Turkey is set to have 50% of its burgeoning population under 25. Gulf countries like the UAE and Qatar show similar trends.

The result is that London and New York are no longer the places for financial services professionals to kick-start their careers. Hong Kong and Singapore are vying to be become the world's top financial centre. Riyadh is building a financial centre the size of Manhattan, while Abu Dhabi, Dubai and Doha are battling for young professionals.

London and New York are seen by the Global Nomads as a second or third job location - lifestyle is still a deciding factor in their career choice.

The rise of the nomad

So, what characterises a Global Nomad? These are professionals willing to move to any career assignment over a given period of ten to 12 years anywhere in the world. They do not have a home location, they are comfortable with change and seek new assignments as a source of challenge and experience.

They are a second generation of families already committed to globe-trotting for their careers, they have tasted and yearn for new experiences and are incredibly mobile.

They were internationally-schooled, have a global mindset and are highly-qualified (the majority with Masters or MBAs), speak multiple languages, but all have fluent English. They have a real spirit of adventure, high energy, are team-orientated and outcome-focused. Many openly state that they are unlikely to stay with a given employer more than three to five years, depending on the overseas opportunities presented.

Even though they openly admit to be globally mobile they remain highly sought after. They are computer-savvy and highly numerate, have outstanding communication skills, network strongly internally and externally and are at ease with change - in fact they relish the opportunity.

These skills are highly transferable and the nomads know their value. Leading CEOs agree this group are gold-dust.

How this will hit multinational companies

The previous mantra of globalisation is being replaced by regionalisation where more culturally-diverse, consumer trends demand customisation. Business and employment is more people-centric based on networking and longer-term relationships rather pure profitability - integrity and trust, rather than commercial greed.

Meanwhile, the traditional notion of the expat flown out from a home base for a foreign tour of duty is now been replaced by a business-focused set of assignments.

Getting to grips with the Nomads

Global Nomads are highly engaged employees, keen to be innovative and creative in their work; are motivated to the highest standards and have a sense of mutual purpose and energy.

Managing this group will be more challenging. This has significant implications for current management as this will require more face-to-face time (not emails); more transparency and genuine dialogue. Given both managers and the Nomads will be on the move, this will present an even greater challenge.

Jim Matthewman is a partner at Mercer Consulting in the UAE and author of "The Rise of the Global Nomad", recently published by Kogan Page. For more details contact jim.matthewman@mercer.com