Many companies don’t expand globally or they limit themselves to countries where they speak the same language. Cultural and language barriers can lead to poor communication, fear, and resulting business risk. Surveys have shown that a majority of companies that don’t export reported language barriers the primary reason they haven’t gone international.
There has never been a more critical time to have employees with culture and language skills that are suited to their roles and the future needs of the company. Studies suggest that over 64% of executives admit that misunderstandings have halted international business deals, and the UK government alone believes trade losses resulting from language barriers equal over 3.5% of GDP (£ 500+ Billion). This gap is ever larger for countries that rely less on international trade as a percentage of their GDP, such as the United States.
According to Anke Corbin, Globig’s CEO and an expert in international expansion, “Without an investment into improving your own international language skills and those of your employees, your ability to succeed with your global development will be limited, and you will be leaving a lot of money and opportunity on the table.”
Cross-border and even inter-company relationships place demands on companies that they are currently not prepared to meet. This makes it critical to have a language enhancement strategy for your company, increasing your employees’ ability to understand and respect cultural and language differences, and therefore better support the business’s needs.
How can a strong language enhancement strategy benefit you?
- Company Talent Management
Your ability to attract the best talent around the world is more likely if your employees feel like they are able to communicate well with their managers and teams, that they are understood and appreciated despite their differences, and that there are no barriers to career advancement due to language and communication gaps.
Managers who can communicate not only in English but also in the native language of their cross-border teams, even if they are not fluent, are more successful. This is especially important for operations, safety knowledge transfer, goal setting, and talent growth management. Good communication is also key to having a strong culture that extends to remote offices.
- Stronger Business Opportunity
Relationships are very important in business and showing that you’re able to speak the language of prospective business partners is helpful. Even if you’re just learning, your extra efforts are greatly appreciated. Negotiations and deal making are enhanced with the ability to communicate, disagree respectfully, interrupt a conversation, make an important point, and understand when an agreement is ready to be made in another country.
- Risk Management
There are many risks in business and while some are specific to global development, many are risks that can be mitigated with good internal and external communications. Some of the most common issues are having an awareness of and plan to address business compliance issues, country specific laws and regulations, security and safety issues, and supply chain and vendor management.
One of the most overlooked risks is that managers and marketers don’t understand cultural norms, and may be especially challenged around understanding the needs of the customers, meeting customer service expectations, and recognizing the intentional or unintentional brand image problems, packaging, and advertising messaging needed to be successful.
Language Training
There are several ways you can improve the language skills of your existing team, and you can also make an effort to hire in talent with those required skills. One of the most effective ways of training your current team is to develop a training strategy, provide high quality language training, set internal language learning company goals that are rewarded, and use the skills in everyday business activities.
Task-based On-Demand Learning
One of the most exciting and effective ways to learn a language is to focus on tasks and specific business situations, so the first conversations being learned are very useful and show immediate results.
A leader in this innovative language training approach is Lingo Live, a global company using native speakers that are available 24/7 online, who focus on situation and task-based learning for executives.
Other ways to learn a language for business are the more traditional online methods, such as RosettaStone.com, and online or local schools offering language training which will be less focused on business language skills and communications.
Having an international language development strategy for the overall business and the long-term growth of your employees makes sense in so many ways. Any investment into language communication skills you make today will pay off significantly tomorrow.
Would you like to learn more about expanding your business? Join Globig’s Resource Hub today for access to information, resources, and in-market experts who can help you get it right.
