If you're in the frustrating situation of looking for a job in today's rather lackluster economy, you might want to cast your sights overseas.
A Wall Street Journal analysis shows that Wal-Mart, Honeywell and 33 other big U.S.-based multinational companies have added jobs much faster than other U.S. employers in the past two years, but nearly three-fourths of these jobs were abroad.
Almost 60% of the revenue growth between 2009 and 2011 at the companies analyzed came from outside the U.S., one reason why corporations are likely to continue to channel resources overseas. Historically when Wal-Mart hires employees for a new store in say, Beijing, this would likely create human-resources jobs at its headquarters in Arkansas. However, as more U.S. companies shift investment abroad, this relationship may be breaking down.
Notably, economists say companies are creating jobs overseas mostly to grab market share, rather than simply to cut costs. Of the 35 companies analyzed by WSJ, 16 added jobs both in the U.S. and abroad, six cut both domestic and international jobs, and seven reduced their workforces in the U.S., while expanding them abroad.
Retailers Seek Web Wonders (Bloomberg)
Retailers like Kenneth Cole, Gilt Groupe and New York & Co. are struggling to find executives who understand the Web and can drive online sales. Revenue from online sales increased 15%--more than three times faster than that from stores--during last year's holiday season.
Akerson's $1.7 Million Payslip (Reuters)
General Motors Chief Executive Dan Akerson earned $1.7 million in salary and about $6 million in salaried and restricted stock units during 2011, his first full year as CEO.
Allscripts Fires Chairman (WSJ)
Allscripts Healthcare Solutions has fired its chairman, Philip Pead, prompting three board members to resign in protest and its stock to plunge 43%. The Chicago-based electronic health-care records company also announced Chief Financial Officer Bill Davis will depart May 18.
Spying on the Competition (CBS)
"Keep your friends close, and your enemies closer" goes the saying. CBS has compiled a list for salespeople who want to keep tabs on the competition. Tips include shopping at competitor stores, opting into marketing emails, and using Hoover's Online to gather information.
Quiksilver's New CFO (Retailing Today)
Quiksilver has appointed Richard Shields as its new chief financial officer, effective May 11. He worked most recently as CFO for accessory and apparel maker Oakley.
AB InBev's CMO Departs (Marketing Week)
AB InBev's global chief marketing officer, Chris Burggraeve, has departed the company for "entrepreneurial opportunities." He will be replaced by Asia Pacific head Miguel Patricio.
Marketers and Salespeople Unite (Forrester)
A Forrester report says B2B marketers must partner with sales to develop a "go-to-market" strategy from scratch, rather than attempting to boost existing demand by responding to requests for marketing materials.
Customer Experience is Big Differentiator (RightNow)
Marketers take note: A new Harris Interactive survey says customer experience is a brand's main way to differentiate itself. The survey says 86% of consumers will pay more for a better customer experience, 89% began doing business with a competitor following a poor customer experience, and 79% who complained about poor customer experience online were ignored.
Buzz Around the Office
Absurd Tweets Illustrated (BuzzFeed)
Combed over eagles, bagel plants and hipster cats--in graphic detail.
List of the Day: Networking Without Trying
It's so easy, anyone can do it.
1. Talk to the person next to you on a plane.
2. Assume everyone is worth meeting.
3. Come up with topics other than the weather.