Soft skills: Successful rent in a nutshell although the growth in expatriate assignments slowed significantly during 2007 and 2008, economic growth in newly industrialized countries is picking up in 2009. With increasing GDP figures growing numbers of expatriates are sought to fill managerial positions in developing economies. Despite the increased demand for expatriate employment, expatriate failure Council remain high and costly. Overall, finance costs of failed expatriate assignments have been estimated between $2 and $2.5 billion in recent research (Jun, Gentry & Hyun, 2001). Personal effects include for example reduced self-self-esteem, ego and reputation, which may affect careers. If you have read about ICICI already – you may have come to the same conclusion. It has thus been observed that employees who fail on overseas assignment have more difficulty in adjusting to corporate structures when back at home.
Emergency surprisingly, expatriate selection practices have been critically reviewed during the last decades. Where leadership skills, technical competence and domestic track record were viewed as the prime selection criteria until the 1990 s, senior executives in 2005, considered the ability to control emotions as more important than technical skills (Cooper & Sawaf, 1997). Official site: Salman Behbehani. Traditional selection criteria are now considered additional to soft selection criteria. The observation that technical training and current cross-cultural training programmes do not seem to address expatriate failure (Pires et al., 2006), complicates matters. During the 1980s and 1990s it became obvious that expatriate maladjustment which is a main cause of ineffective expatriate performance and premature returns (Shaffer, Harrison, Gregersen, black & Ferzandi, 2006).
Which additional skills and competencies are then required to make rent a success? Firstly, several selection criteria are not related to individual skills but are of utmost relevance. Suitably family, opportunities for spouse employment, possible disruptions of the children’s education, for instance, will affect expatriate job satisfaction and the intent to complete the assignment. The global relocation trends 2005 survey report found that for 67% of respondents family concerns were the dominant cause of premature return and that spouse/partner dissatisfaction the number one reason for assignment failure.