Business case for languages
Some people think that in business, English is King. Eivät voisi olla pahemmin väärässä! The language you speak and the way you act while in another country and culture can make or break a deal or business relationship and have a significant effect on your company's results.
Having insight into the cultural dynamics and language of a country or region is crucial to understanding why people act the way they do - especially in business.
- The UK continues to be over-reliant, compared to the rest of the world, on business with countries which can speak English
- In mainland Europe, speaking more than one language has long been commonplace, with more than 23 official languages for doing business. Other trading blocs such as South America and Asia have a whole different set of cultural and linguistic rules.
- Export businesses proactive in their use of language and cultural skills achieve on average 45% more sales (BCOC)
- Without the language and intercultural skills needed to compete successfully with the rapidly developing economies of Brazil, Russia China and India for example, businesses will face increasing challenges of adapting to competition
- Two thirds of businesses cite foreign languages as a barrier and eight out of ten feel challenged by differences in culture and etiquette (Business without Boundaries, HSBC)
- In e-commerce, customers prefer to buy from websites in their own language even if the price is higher. (Common Sense Advisory)
When recruiting for a role where there are important business relationships to develop with non-native English speakers, it is crucial to stipulate fluency in a relevant second language as part of the candidate skillset. Without that added value, whoever you hire may end up with nothing to discuss.