Sign of the Times

In perhaps the most significant recognition of the beginning of the new world economy everyone should take note of a Newsweek Article, Where the Jobs Are.

Foreign companies, via various internet placement agencies, are hiring contract workers in the US at a rate that is four times greater than just a year ago—and I would bet, a fraction of what it will be in five years.  As foreign corporations in Russia, Brazil, India, China, etc. , strive to meet the incredible growth opportunities in their own countries, good ‘ole American know how, skills and work ethic will be in ever-increasing demand.

Today these overseas jobs are being accepted mainly  because of  the current US recession and, as such, the wages paid may also be comparatively low, but that won’t be the case in the very near future. What is now termed as “reverse outsourcing” will become as impossibly mainstream as it seemed home computers would be two decades ago when (as  popular legend has it, Bill Gates) was informed by investors that personal computers were a great idea, but that they would never catch on.

Those people  lucky enough to be gaining priceless experience working for foreign companies (not traveling anywhere, mind you—they’re working from ordinary places like Tampa, Florida and Flint , Michigan)–including their cultures, their logic and more—will definitely have a huge head start on understanding how to succeed in the new world economy.

As I’ve said time and time again, EVERY PERSON who is in business  or who is carving out a career path in this day and age will need to learn how to work and communicate effectively with other cultures in order to be  truly successful.  Whether you’re a global entrepreneur or a graphic artist living in Omaha, the insights from the book Lies, Bribes & Peril will prove invaluable!

Best new jobs (in the not so distant future)? Inquire with the companies playing in the world’s emerging economies…

At the beginning of the year I wrote about the tremendous growth that will occur outside the US. Both business (Goldman Sachs) and world policy institutions (International Monetary Fund) have  presaged the new world financial order that will have the rapidly growing emerging markets like Brazil, Russia, India & China (BRIC) equaling the GDP of the current G7 within the next fifteen to twenty years.

An indicator that American business has embraced this thinking are the actions of two of the US’s preeminent fast food chains, MacDonald’s and Yum Brands (Taco Bell, Pizza Hut & KFC).

Yum Brands has just opened its first Taco Bell in India while it has already established roughly 230 Pizza Hut & KFC outlets there. With a heady adherence to cultural issues in India, the company is making its offering spicier with a large selection of vegetarian foods and will not serve beef—which many Indians will not eat for religious reasons.

With 230 of its 250 non US outlets in India (is that an eye-opening stat, or what?), Yum is targeting to have over 1,000 total  restaurants there by 2015—that would be over 400%  growth in just five years—wow.

MacDonald’s has had a foothold in mainland China for twenty years now (60,000 employees in over 1100 outlets) and has just established its first Hamburger University in Shanghai (first in China & seventh worldwide) to train and develop new generations of managers.

Why in China? Well—not surprisingly—China is MacDonald’s fastest growing global market with the fast food market there expanding at an annual rate of over 10% compared with just 2% here in the US.

With that kind of market expansion MacDonald’s is hoping to double its restaurants in China to over 2000 in just three years—double wow.

And just what kind of opportunity does this present for American jobs? You guessed it—Huge! As I have noted before, the best new jobs  in America (offering the greatest possibilities for advancement and salaries—not to mention excitement and satisfaction) will come from those companies, both US and foreign, looking to capitalize on the incredible growth in the world’s emerging economies.

Want to be a part of this new global order and establish a fabulous and interesting career? Silly question, huh? Besides having or getting a good education what should you be aware of and know? Well, both Yum and MacDonald’s have a keen focus on cultural issues and so should you. No matter if you might wind up in India or China—or any other global market—my book Lies, Bribes & Peril will be a critical guide to  success.