2013 Multilatinas’ Internationalization Strategies Survey

In 2009 Towers Watson first surveyed Latin American multinationals (Multilatinas) to research on their Human Capital Practices. This new study attempts to capture the different stages of internationalization among Multilatinas, as well as their plans for future global development, with special emphasis on identifying the regions where they plan to expand and the role played by HR departments in their international growth strategy.

By the survey results, among many findings, we could identify that Multilatinas are leveraging the economic forces driving business expansion in Latin America as well as trying their hand in vulnerable developed markets and in less explored developing areas, e.g. Africa. Nevertheless, Latin America is expected to remain the most important source of growth for these companies.

The survey was fielded in 2011/2012 and study respondents’ home countries include 33 Multilatinas from 8 countries: Argentina, Brazil, Chile, Colombia, Dominican Republic, Mexico, Peru and Uruguay. The selected companies met the criteria for best performers in the region and have on average more than 25,000 employees and collectively employ 840,000 individuals.

The survey is focused on HR’s role for growth, corporate governance, stages of internationalization and future development, and strategies for global expansion and implementation. To enrich the survey with qualitative information, Towers Watson gathered statements from Multilatinas’ HR directors, mostly through personal interviews.

This analysis sheds light on the expansion strategies followed by Latin American multinationals in the past and, most important, those they have in mind for the future. It also provides insights into how Multilatinas compare with MNCs in other emerging regions.

The survey upon which this report is based was designed and conducted by the TW MNC Research Team in Montevideo led by Magdalena Ramada and Karla Estavillo. The report was written by Felipe Bastarrica, Juanita Bloomfield, Federico Cabrera, Yoel Kwacz, Heber Lopez, Lucas Puig, Agustina de los Reyes, Mauricio Ruiz, Juan Scasso, Maximiliano Sosa and Adriana Vierci.