National companies are able to make an incredible profit. But as a human resource manager you may be looking to expand this wealth. One of the best ways to open your market is by working with multilingual professionals and expend into the international market. Not only do you need an international team of multilingual speakers but you will also need to open up your company globally by advertising on the internet and making foreign business connections and relations. Globalizing your company will be carried out more efficiently if you are already prepared with a multilingual staff of professionals.
On average, there are more non native English speakers who do research online then native English speakers. However, the majority of even international websites only offer one language in addition to English. With a multilingual staff you will be able to accommodate your international readers by translating your website and other business materials into multiple foreign languages in order to branch out without losing any important information in the translation.
Many global companies strive to open up their sales overseas. One of the best and most convenient ways to do this is by offering your services and products online. Research shows that only 18% of ecommerce spending is done by Americans (http://unctad.org). This means that there is a whole international market that is willing to spend its money on your company’s products. In a 7 year span, Latin American’s internet usage has grown almost 600% (http://unctad.org). Companies, who do not possess a multilingual staff or localized products, miss out on billions of dollars in revenue as new internet users start searching for products to buy online.
A multilingual staff will better enable your company to adjust into a global market. Your customer service record will increase since your staff will be able to address problems and issues immediately rather having to wait for translation assistance. Also, working through a third party can be uncomfortable for clients. Clients need to feel comforted and understood by companies. Having a multilingual representative who can speak directly to the client in their native language will make the company/client relationship prosper.
In a global market, you will need to have a multilingual staff who not only speak languages of European origin languages such as French, German, Spanish, Portuguese and Italian but also Asian languages such as Korean, Chinese and Japanese who make up 40% of the internet readers. Globalizing your company cannot be achieved without the help of a multilingual staff. They are able to reach out to customers and business partners, making your company a better international competitor in a global market.