In recent years English has become a global language and the foundation of international business communications. However, recent studies have shown that using English as the dominant company language isn’t always enough to stay ahead of the competition and, to truly stand out, companies need a culture that fosters language learning and multilingualism…
How can multilingualism strengthen your business?
There’s no doubt that the UK and US economies are two of the strongest in the world, boasting a huge global market share and some of the most innovative and forward-thinking companies on the planet. However, despite the astronomical influence these markets have on the global economy, recent studies have shown that businesses that speak a variety of languages have a competitive edge over those that speak only English.
There are multitudes of benefits of introducing language learning to your workforce. It boosts confidence, expands horizons, and fosters communities. But did you know that multilingualism is fantastic for external business relationships, too?
Recent studies have shown companies that speak several languages have more successful international business relationships due to heightened cultural awareness. The studies show that although English is widely thought of as the international business language, companies that solely speak it are losing out to foreign competitors because of a lack of cross-cultural competence.
Overseas businesses outside the UK and US have an upper hand as they can communicate in local languages and connect with targeted communities. And it makes sense — an international business with a team that speaks fluent Portuguese is far more likely to succeed in the Portuguese economy than a team that can only speak English.
Take a page out of Switzerland’s book
Switzerland is a great example of a country that continues to nurture its national languages and is reaping the benefits as a result. A study financed by the Swiss National Research Programme called The LEAP Project shows that the country’s multilingual heritage gives it a competitive advantage worth $38.15 billion. Switzerland is a unique country as it has four national languages — German, French, Italian, and Romansh, a Latin-based language which is spoken by 0.5% of the population.
The LEAP project looked at how Swiss companies deal with the country’s multilingualism — specifically how languages can generate economic value and what impact they have on certain sectors and jobs. The report confirmed the importance of English as a global business language but found the other intermediary languages of Switzerland helped build successful business relationships. François Grin is a professor of economics at Geneva University and the leader of The LEAP Project. “There are many cases where English is not enough and you need more to get a competitive edge,” he says. “It's very useful to draw on a rich linguistic repertoire.”
Grin sees the championing of multi-national languages as more than just culturally beneficial. “The notion that we need to take care of our national languages in addition to English and possibly to develop skills in further languages is something that makes sense not just politically and sociologically but also economically,” he says.
What’s to lose?
We’ve looked at what can be gained from multilingualism in business, but what’s there to lose? A study conducted by Conversis shows that although English is considered an international language, local languages and cultures are continuing to dominate the world of business.
The study looking at data from UK-based business leaders and US-based hiring managers showed that one in four companies surveyed had lost business opportunities because of a lack of foreign language skills. Dr. Nitish Singh is Associate Professor of Boeing Institute of International Business at Saint Louis University. “Today’s competitive advantage rests on the ability to effectively deal with diverse global expectations,” he says. “And the role of language and culture is at the heart of it.”
The study shows that in order to expand the language diversity within UK and US businesses, students should be encouraged to learn a language. The study shows that more than 80% of respondents in the UK and 70% in North America believe that colleges and universities should do more than they are currently doing to help young adults think more globally.
The good news
Introducing a culture of language learning into your company can seem like a mammoth task, but Babbel’s offering is just as flexible and forward-thinking as your workforce. By offering the Babbel app as part of your employee benefit package, you can get the entire company started on their language-learning journey without having to coordinate classroom lessons with expensive tutors.
Your employees can carry their Babbel app on their smartphones, learning at their own pace at a level that suits their needs. It means they can practice their new language during a coffee break or as a team in language-learning lunches. And, because we get you speaking a new language faster than any other app, you’ll soon be cutting above the competition with a truly international workforce.
Interested? We’d love to hear from you! Just get in touch with one of our team.