Language is doubtlessly a vital tool for businesses. Being fluent and skilled in using one language is useful especially in leading people and negotiating. Knowing how to speak two or more, however, even not at a fluent level, can be greatly advantageous. But should you go out of your way to learn a new language? If you are a business executive, does speaking another language have real value to you? Consider the following benefits to business executives and managers of becoming bilingual or multilingual

Increased Job Opportunities and Earning Potential

Globalization has been interconnecting businesses in different parts of world. While in most cases, knowing how to communicate in English already suffices in conducting business, there are companies that prefer to hire people who can communicate in a language that can be useful for business. American companies trying to penetrate the Chinese market, for example, would prefer employees who know how to speak Mandarin or some other widely-spoken Chinese language. Similarly, Chinese companies aiming to do business in America need employees who are well-versed in written and spoken English.

According to the US Bureau of Labor Statistics, the demand for interpreters and translators is expected to rise by 42% between 2010 and 2020. This only suggests that there is growing interaction between businesses or organizations that use different languages. Naturally, business executives who can already perform the functions of a translator or interpreter will be more preferred. This will also translate to better pay.

Better Leadership

Aside from interacting with clients, business executives also have to deal with employees or members of their project teams. Nowadays, having immigrant or foreign employees is no longer uncommon. In the United States, for example, around 16% of the labor force are foreign born. It certainly is an advantage getting acquainted with their languages and understanding their cultures to more effectively lead or manage them. Managers who exert some effort in connecting to their personnel or subordinates are usually more effective leaders

More Effective Communication and Rapport with Clients

Building rapport with clients can be greatly enhanced with the help of language. Interpreters are effective in enabling communication between two parties that speak different languages. It is more advantageous, however, if the other party takes the initiative to learn the other party