For many organizations today the world of talent is a global one. Putting the right people in the right places takes very special meaning in this global landscape of infinite options.

Mercer has published a good framework to help you achieve this goal.

At the micro level, it is always very important to be able to execute. At Taleo we have promoted the concept of workforce logistics. You have to be nimble enough to deliver in your situation. Fortunately today more talent management departments are being consulted prior to making global location selection decisions. So it is imperative to use a strong model to select what will be the best geography.

Cost is the obvious factor and will weight more often than the other factors, but dont forget to take into account its fading effect over time. Typically, salary growth rates are faster in developing regions. But cost is not the only factor. As shown below, the future labor market from both demand and supply sides is very important as well.

Economic incentives can be strong as well, as shown in Ireland in the past. A factor that can have a way bigger effect than showed here is the work ethic. For jobs with long learning curves, retention is a critical cost and time to market component. As many companies are struggling today to retain quality employees in developing regions, a complete view can prepare them for the right long-term ROI of a macro decision.
But dont forget, a good macro decision will never counter poor execution.