"If you ask any board member, business leader or HR leader in Asia about what keeps them up at night, there's a high chance one of the things they'll talk about is a shortage of world-class leadership talent in Asia."
And the way to begin addressing this issue is by developing a realistic roadmap for local companies to follow when creating strong local leaders, said Syed Ali Abbas, chief human resources officer at Pacnet.
At Talent Management 2014 - next year's biggest and most relevant talent event in Asia - Abbas will speak about this leadership shortage and provide a step-by-step guide to solving one of the biggest people challenges facing businesses today.
"Companies have historically brought in huge numbers of expats to address this issue and continue to do so. Unfortunately, expats have gone from the original plan of being a short-term fix for specific areas to becoming the long-term solution overall today," said Abbas.
"That's because the development of local talent in Asia has not kept pace with the ever-increasing demand in the market."
Although Abbas believes much great work is already being done in this space, there is a need for more to be done in both western and Asian multinationals when developing Asian talent locally.
"Just like in most HR areas, the practices of a Fortune 500 company - Western or Asian - are interesting to hear about but cannot easily be replicated by the vast majority of other companies," he said.
"So we need to think about realistic and effective ways for the average company to develop their own world-class local leaders."
Join some of the region's biggest names in HR at Talent Management 2014 to hear more from Abbas and for the full learning experience of creating world-class local leaders.
Talent Management 2014 will take place on 17-19 March at the InterContinental Hotel in Singapore.
For more information on the event and speakers, please visit the Talent Management 2014 website here.
To register for the event, please click here.