The globalisation and digitalisation of world business means companies are branching out across the world, looking to tap the economic growth of emerging markets.
However, experts have said that if potential employees, especially graduates, do not bolster their language skills, then they could miss out on securing top positions in companies.
All Languages, a translation and interpreting agency, says English no longer has the same dominance, particularly in respect of the internet.
"British businesses are at a great disadvantage compared with their international counterparts and competitors as many individuals from other countries are multilingual. Speaking a second or third language builds capability and makes it possible to market and sell across borders," says Lorna Nelson, managing director of All Languages.
"We can't stress enough how important it is becoming for business leaders to communicate effectively in languages other than English."
According to All Languages data, companies are mainly looking at candidates with strong skills in three main languages.
"Although English is primarily known as the world's de facto business language, there are many other languages across the world that are spoken by a larger proportion of people. Mandarin (Chinese), Hindi (Indian) and Spanish all have more native speakers than English, so they would be top choices to learn from a business perspective," said the group.
"Many corporations prefer to do business in their mother tongue which means UK business leaders will need to take the initiative and learn a second language if they don't want to be pushed aside by multilingual European counterparts."