Talent Trends

Talent Trends 2025: Why Inclusive Leadership Is Business-Critical for Executives

Luciana Casado — Mon, 15 Sep 2025 14:28:58 +0000

Talent Trends 2025: Why Inclusive Leadership Is Business-Critical for Executives Luciana Casado

Workplace inclusion has climbed steadily up the corporate agenda in recent years, but Page Executive’s Talent Trends 2025: Executive & Senior Leadership Edition reveals that many senior leaders still encounter exclusionary experiences. The data highlights an uncomfortable truth: while progress has been made, too many executives continue to feel marginalised at work, and that has direct consequences for motivation, retention and leadership performance.

The Reality Check: Exclusion at the Executive Level

Executives are not immune to bias. Despite their seniority, 12% report experiencing microaggressions, 1 in 10 say they have been stereotyped, and another 1 in 10 feel marginalised or discriminated against at work.

For businesses competing for top leadership talent, these experiences cannot be dismissed as isolated incidents. Exclusion – even subtle – has measurable impact on careers and organisational outcomes.

The Human Impact of Discrimination

The past 12 months alone show how exclusion directly shapes executive career trajectories:

46% experienced reduced motivation
44% saw hindered career progression
43% reported lower job satisfaction
40% considered leaving their roles

When nearly half of senior leaders feel their career is being held back by bias, companies risk losing high-potential executives to competitors who offer more inclusive environments.

Age Discrimination: The Most Persistent Bias

Among all forms of exclusion, ageism emerges as the most pervasive.

38% of executives say they have experienced age discrimination in the last year.
62% believe age has influenced how they are perceived at work.

This challenge spans demographics:

64% of women and 61% of men report age-related bias.
It affects 68% of leaders in their 30s, 59% in their 40s and 60% aged 50+.
Regionally, the prevalence is highest in North America (70%), followed by APAC (63%), Europe (62%), and LATAM (60%), with the Middle East (45%) reporting lower levels.

The findings demonstrate that age bias is not just a problem for older professionals, it impacts leaders at every stage of their careers.

Broader Discrimination Landscape

Other reported forms of workplace discrimination amongst executives:

Gender/Gender Identity and/or sex: 29%
Ethnicity: 24%
Socioeconomic status: 22%
Religion or beliefs: 19%
Marital status: 14%
Disability: 10%
Pregnancy/ maternity leave: 10%
Sexual orientation: 8%

The Inclusion Gap: Progress Has Stalled

Despite years of investment in diversity and inclusion strategies, executives still report a significant gap between intention and reality:

Only 38% feel they can be their authentic selves at work (down from 41% in 2024).
Just 27% believe their workplace is inclusive (vs. 30% in 2024).
Only 1 in 5 believe their leadership team is inclusive.

This stagnation underscores the need for organisations to move beyond surface-level initiatives and embed inclusion into the leadership experience itself.

Where Executive Priorities & Reality Don’t Align

Executives continue to prioritise inclusion: age, gender and racial equity, however gaps remain between values and lived experience.

Inclusion as Competitive Advantage

As Page Executive’s Director of Inclusive Culture & Social Impact, Rani Nandan explains:

Too often, organisations treat inclusivity as a checkbox, missing the deeper truth: exclusion erodes trust and drives high-potential leaders away. To compete, companies must embed equity into everyday decisions, not just policies. Inclusive leadership isn’t a ‘nice to have’, it’s a business-critical advantage in the fight for talent.

Turning Intention Into Action

To compete for the best executive talent, organisations must shift inclusion from aspiration to execution. That means:

Auditing the leadership pipeline: Review hiring and promotion data to uncover hidden age or experience bias.
Investing in cross-generational leadership programmes: Pair emerging leaders with seasoned executives for mutual learning.
Signalling belonging from the top: Create cultures where leaders can show up authentically, backed by policies that reinforce equity.
Measuring impact, not just intent: Use experience and retention data to track progress meaningfully.

Unlock the Full Report

Executives who feel seen, valued and included are more motivated, perform at higher levels, and stay longer. Organisations that fail to close the inclusion gap risk losing their strongest leaders at a critical moment.

For more insights, download our Talent Trends 2025: Executive & Senior Leadership Edition and discover how inclusion can be your competitive edge in the fight for top leadership talent.

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Talent Trends 2025: How Senior Executives Are Leading the GenAI Revolution

Luciana Casado — Mon, 15 Sep 2025 13:04:59 +0000

Talent Trends 2025: How Senior Executives Are Leading the GenAI Revolution Luciana Casado

Generative AI (GenAI) is no longer a future consideration for business leaders, it’s already reshaping the way executives work, make decisions and plan their careers. In our latest Talent Trends 2026: Executive & Senior Leadership report, based on the insights of over 4,500 senior leaders, adoption of GenAI is accelerating at the very top of organisations, bringing both opportunities and risks for businesses that want to remain competitive in a rapidly changing landscape.

Executives Are Outpacing the Workforce in GenAI Adoption

In 2025, nearly two-thirds of senior leaders report using GenAI in their roles; a 29% increase compared to last year. Executives are now embracing AI 17% faster than the wider workforce, highlighting a clear trend: leadership teams are no longer just aware of GenAI, they are actively integrating it into their day-to-day decision-making.

The Benefits Are Tangible

The impact of GenAI on executive performance is already evident:

80% report increased productivity
76% say it improves the quality of their work
77% believe it enables them to focus on more meaningful, strategic tasks

These figures suggest that AI is not replacing leaders, it’s enhancing their ability to deliver at a higher level.

Adoption Without Strategy: A Growing Risk

Despite this enthusiasm, many executives remain uncertain about how to maximise GenAI effectively. Two-thirds of leaders say they are primarily using tools recommended by their organisations, suggesting a more reactive than proactive approach.

What’s more, almost a third of executives feel their organisations are not preparing them adequately for AI adoption, with leaders in accounting, finance, industrial & manufacturing, and HR reporting the highest concerns.

This lack of clarity can have serious implications. Over half of senior executives admit that GenAI is influencing their career decisions, and one in four see it as a potential threat to their long-term job security.

From Disruption to Competitive Advantage

A successful AI strategy is key to turning disruption into competitive advantage. Organisations need to hire digitally fluent executives, upskill senior leadership, and integrate AI into their core processes.

Jon Goldstein
Managing Partner SEA & India

The message is clear: high adoption is not enough. Without a coherent strategy, businesses risk falling behind in a market where digital fluency at the leadership level is becoming non-negotiable.

What Organisations Must Do Now

AI will not replace leader, but leaders who embrace AI will replace those who don’t. To stay ahead, companies must:

Prioritise digital fluency in hiring: Seek executives who can shape AI strategy, not just use the tools.
Invest in onboarding & upskilling: Equip leaders with AI-specific training aligned with executive responsibilities.
Clarify career pathways: Mitigate job-security fears by aligning AI with leadership development.
Embed AI in company culture: Support leaders to drive adoption across entire organisations.

Unlock the Full Report Now

The rise of GenAI presents a pivotal moment for executive leadership. Organisations that act decisively now – by hiring, developing, and empowering digitally fluent leaders – will turn uncertainty into long-term advantage.

Download our Talent Trends 2025: Executive & Senior Leadership Edition now to access the full insights from Page Executive and discover how your business can compete on clarity in the age of GenAI.

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What ‘Great’ Looks Like in a C-suite Interview: 5 Traits Clients Consistently Value

Luciana Casado — Fri, 05 Sep 2025 11:14:33 +0000

What ‘Great’ Looks Like in a C-suite Interview: 5 Traits Clients Consistently Value Luciana Casado

By Mark Lawson-Jones, Partner at Page Executive, Technology Sector & Business Services (UK&I and Nordics)

In today’s leadership landscape, the expectations placed on C-suite candidates are more complex—and more human—than ever before. Boards and investors aren’t just evaluating track records. They’re listening for signals: subtle cues that reveal how a leader thinks, how they lead, and how they’ll shape the culture and commercial future of the business.

So, what does “great” really look like in a C-suite interview?

Here are five traits that consistently resonate with decision-makers at the highest level

1. Strategic Clarity with Commercial Depth

The best leaders don’t just articulate a vision—they connect it to value. They demonstrate a clear understanding of the market landscape and how to navigate it with purpose.

What clients are listening for:

A grounded, forward-looking strategy
Evidence of commercial impact, not just ambition
The ability to translate complexity into clarity

Signal to show: Share a concise example of a strategic decision or pivot you led—what informed it, how it was executed, and the measurable outcomes it delivered.

2. Authentic Leadership Presence

Presence in the C-suite isn’t about performance—it’s about authenticity. Clients are drawn to leaders who are confident, composed, and deeply self-aware.

What clients are listening for:

Emotional intelligence and humility
The ability to build trust quickly
A calm, grounded presence—especially under pressure

Signal to show: Reflect on a moment of challenge or failure. How did you respond? What did you learn? Vulnerability, when paired with insight, is a powerful differentiator.

3. Talent Magnetism

Great leaders don’t just manage teams—they attract, develop, and retain exceptional people. They create environments where talent thrives and performance scales.

What clients are listening for:

A track record of building high-performing teams
A clear philosophy on leadership and development
Evidence of cultural influence, not just operational control

Signal to show: Talk about how you’ve shaped team dynamics, built succession pipelines, or created a culture that people want to be part of.

4. Change Agility

In a world defined by disruption, adaptability is no longer optional. Clients want to see that a leader can navigate ambiguity, make decisions with imperfect information, and keep momentum through change.

What clients are listening for:

Comfort with complexity and uncertainty
A bias for action, balanced with reflection
The ability to lead transformation—digital, cultural, or structural

Signal to show: Share a story of transformation you led. What shifted? What resistance did you face? What did you learn?

5. Stakeholder Fluency

C-suite leaders operate in a multi-stakeholder environment. The ability to engage, align, and influence across diverse groups is critical.

What clients are listening for:

Strong communication and listening skills
Political and cultural awareness
The ability to build alignment without diluting intent

Signal to show: Describe a time you brought together diverse stakeholders—internal or external—around a shared goal or navigated a high-stakes negotiation.

Final Thought: Leadership Is a Signal, Not a Script

C-suite interviews aren’t just about what you say—they’re about how you show up. Clients are watching how you think, how you listen, and how you connect. The best interviews feel less like assessments and more like strategic conversations.

So when you step into that room, remember: you’re not just telling your story. You’re sending signals. Make them intentional. Make them count.

Exploring Leadership Fit at the Highest Level

If you're preparing for a senior appointment or reflecting on the kind of leadership your organisation needs next, these signals can offer a useful lens.

We regularly support boards, CEOs, and investors in navigating the nuance of executive hiring—helping to surface not just capability, but character, clarity, and cultural alignment.

If you'd value a conversation about how this applies in your context—whether for a current search or future planning—I’d be happy to connect

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Board Perspective: The One Thing Most Boards Overlook in C-suite Hiring

Luciana Casado — Fri, 05 Sep 2025 10:48:10 +0000

Board Perspective: The One Thing Most Boards Overlook in C-suite Hiring Luciana Casado

By Mark Lawson-Jones, Partner at Page Executive, Technology Sector & Business Services (UK&I and Nordics)

It’s not experience. It’s not credentials. It’s not even cultural fit

As a Partner at Page Executive specialising in executive search, I’ve seen first-hand how boardroom conversations around C-suite hiring often centre on track records, sector knowledge, and leadership style. These are important—but they’re not the differentiator.

The one thing most boards overlook? The candidate’s capacity to evolve.

Why This Matters More Than Ever

In today’s business environment, the only constant is change. AI is rewriting operating models. ESG is reshaping stakeholder expectations. Geopolitical and economic volatility are now baseline conditions.

In this context, a leader’s ability to evolve—to unlearn, reframe, and adapt—is no longer a nice-to-have. It’s a survival skill.

What’s dangerous is not to evolve.

Jeff Bezos

Boards often assume that adaptability is baked into senior leadership. But the truth is, the higher someone climbs, the more likely they are to become insulated from challenge and change. Legacy thinking can become a liability.

What Boards Should Be Asking Instead

Most board interviews focus on what the candidate has done. But in today’s environment, what matters more is what they’re capable of becoming.

Here are five high-impact questions boards should be asking to assess a leader’s capacity to evolve:

“Tell us about a time you changed your mind about something fundamental.” This reveals intellectual humility and the ability to challenge one’s own assumptions—critical in fast-moving markets.
“What’s the most uncomfortable feedback you’ve received—and what did you do with it?” Leaders who grow are those who can metabolise discomfort and turn it into development.
“How do you stay ahead of trends that haven’t hit your sector yet?” This tests foresight and curiosity—two traits that separate reactive leaders from proactive ones.
“What have you unlearnt in the last 12 months?” The best leaders are in a constant state of reinvention. This question surfaces their agility and self-awareness.
“Who do you turn to when you’re out of your depth?” No one leads alone. This question uncovers the candidate’s support systems and willingness to be vulnerable—both signs of maturity, not weakness.

Change before you have to.

Jack Welch

The Board’s Blind Spot

Hiring for evolution isn’t soft. It’s strategic. It’s the difference between a CEO who survives disruption—and one who leads it.

Innovation distinguishes between a leader and a follower.

Steve Jobs

Boards that fail to prioritise adaptability risk appointing leaders who are brilliant in yesterday’s world—but brittle in tomorrow’s.

Conclusion

As the pace of change accelerates, boards must evolve their own approach to leadership selection. The next generation of C-suite leaders won’t just need to lead change—they’ll need to embody it.

What questions are you asking in your boardroom to uncover a leader’s capacity to evolve? I’d love to hear your thoughts—share them in the comments.

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Interview Nuance: Why Great Leaders Sometimes Struggle in Interviews — and How to Spot Their Potential

Luciana Casado — Fri, 05 Sep 2025 10:12:58 +0000

Interview Nuance: Why Great Leaders Sometimes Struggle in Interviews — and How to Spot Their Potential Luciana Casado

By Mark Lawson-Jones, Partner at Page Executive, Technology Sector & Business Services (UK&I and Nordics)

As an executive search consultant at Page Executive , I’ve seen brilliant leaders fall flat in interviews — not because they lack ability, but because they don’t “perform” the part.

We often expect great leaders to be great interviewees. But that’s not always the case.

Some of the most transformative leaders don’t shine in traditional interviews. They may come across as understated, overly humble, or even hesitant. Yet, once in the role, they inspire teams, navigate complexity, and drive lasting impact.

So why the disconnect?

The answer lies in understanding the nuance of leadership — and how it doesn’t always align with the performance-based nature of interviews.

Why Great Leaders Sometimes Struggle in Interviews

1. They’re Not Performers — They’re Practitioners

Interviews often reward charisma and storytelling. But many great leaders are more focused on doing the work than talking about it.

As Simon Sinek puts it:

People don’t buy what you do; they buy why you do it.

Great leaders are driven by purpose, not performance. That purpose doesn’t always translate into polished interview answers — but it shows up in how they lead.

2. They Prioritize Team Over Self

True leaders often speak in terms of “we” rather than “I.” They deflect credit and elevate others. In an interview, this can make it harder to pinpoint their individual contributions. This people-first mindset is powerful in practice — but it can be misread as vagueness or lack of ownership in interviews.

3. They Think Before They Speak

In high-pressure interviews, silence can feel awkward. But thoughtful leaders often pause to reflect before answering. This can be misinterpreted as hesitation. That authenticity — even if it lacks polish — is often a sign of a grounded, self-aware leader.

Common Interview Mistakes Even Great Leaders Make

Even the most capable leaders can fall into these traps during interviews:

Underselling Achievements

Leaders who are used to giving credit to their teams may struggle to articulate their own impact. This can make it hard for interviewers to assess their true value.

Overusing Jargon or Strategy-Speak

Some leaders default to high-level language that sounds impressive but lacks specificity. Interviewers need clear, concrete examples to understand how a leader operates.

Avoiding Vulnerability

Leaders may fear that admitting mistakes or failures will reflect poorly on them. But vulnerability — when framed with learning and growth — is often a sign of emotional intelligence.

Assuming Their Reputation Speaks for Itself

Especially for senior candidates, there’s a tendency to assume their resume or title is enough. But interviews are about connection, clarity, and communication — not just credentials.

Failing to Read the Room

Some leaders are so focused on delivering their message that they miss cues from the interviewer. Great leadership includes adaptability — and that starts in the interview.

How to Spot Leadership Potential Beyond the Interview

1. Look for Patterns, Not Performances

Instead of focusing on how well someone answers a question, look for consistent patterns in their career: Have they built strong teams? Navigated complexity? Left organisations better than they found them?

Peter Drucker’s insight is key here:

Management is doing things right; leadership is doing the right things.

2. Listen for Values and Vision

Great leaders speak in terms of values, purpose, and long-term thinking. They may not dazzle with metrics, but they reveal a clear sense of direction.

3. Use Multi-Dimensional Assessments

Consider supplementing interviews with:

360-degree references from peers, reports, and supervisors
Case studies or simulations that reveal decision-making under pressure
Leadership assessments that measure emotional intelligence, adaptability, and strategic thinking

Final Thoughts

The best leaders aren’t always the best interviewees. And the best interviews aren’t always the most polished.

As hiring managers, recruiters, and talent leaders, our job is to see beyond the surface — to recognise the quiet confidence, the thoughtful pause, the team-first mindset. These are often the marks of someone who will lead not just with skill, but with integrity and impact.

This is also where inclusive hiring plays a vital role. By broadening our definition of what leadership “looks like” in an interview, we open the door to more diverse talent — individuals who may not fit the traditional mould but bring fresh perspectives, lived experience, and long-term value.

Don't miss out on great leaders just because they don’t perform the part. Build processes that help us see their potential — clearly and fairly.

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One Size Fits None: Why You Need a Bespoke Talent Strategy

Luciana Casado — Thu, 29 Aug 2024 07:55:24 +0000

One Size Fits None: Why You Need a Bespoke Talent Strategy Luciana Casado

Ever feel like finding the perfect hire is like hunting for a mythical treasure? You’re not alone. In a world brimming with talented professionals, many leaders are still struggling to land the right fit. It's a paradox that leaves teams scratching their heads: talent is abundant, but the perfect match seems rare.

The good news? We’ve got data to shed light on this. Drawing from two major reports — PageGroup’s Talent Trends 2024 study of 50,000 professionals and Page Executive’s Exclusive Leadership Edition — we’ll uncover the insights you need to bridge the gap between what leaders can offer and what today’s skilled professionals really want.

Solving the Talent Shortage: Why Leaders are Struggling

Half of business leaders report struggling to find the right fit, despite the global talent pool. But this challenge isn’t evenly spread. In North America, only 34% of leaders face this issue, while in Europe and South America, it jumps to 55% and 57%.

This talent shortage spans industries, whether it’s finance, procurement, engineering or HR. So, why is it so hard to fill key roles?

A major factor is the mismatch in salary expectations. 44% of leaders say meeting candidates' financial expectations is a challenge. Top talent knows their worth, and it’s tough for companies to keep up, especially with economic pressures mounting.

Then there’s the skills gap. Another 44% of leaders are struggling to find the right expertise in the current talent pool. As industries evolve and new tech emerges, the demand for specialised skills keeps rising, but the supply? Not so much.

Cultural fit is another piece of the puzzle. 36% of leaders say they’re finding it hard to find candidates who mesh with their company’s values and dynamics. It’s not just about filling the position; it’s about ensuring the person will thrive with the team.

34% of leaders also report a flat-out lack of applicants for some roles. This could be due to less interest in certain sectors, fierce competition or even geographic hurdles.

Interestingly, flexible work isn’t as much of a barrier as you might expect in today’s remote-friendly world. Only 20% of leaders see this as an issue, likely because many companies have adapted to hybrid or fully remote setups that align with modern employee expectations.

What Top Talent Really Wants

To attract and retain top performers, it's essential to get inside the minds of today's workforce. It's not just about the paycheck anymore—employees are seeking a more holistic approach to their careers that balances compensation with personal fulfillment and growth.

Beyond the Paycheck

Yes, salary is still a major motivator. In fact, over half of job seekers are actively chasing higher-paying roles. But economic realities limit how much companies can realistically offer. This leaves a gap between what employees want and what you can provide.

Fortunately, compensation isn’t your only bargaining chip. The Talent Trends survey highlights that work-life balance is climbing the ranks of importance, coming in just behind salary. Employees are increasingly valuing their time and wellbeing, sometimes even more than an extra bump in pay. They're looking for roles that allow them to excel professionally without sacrificing personal commitments or burning out.

Management style also plays a huge role. Supportive, empowering leadership can drastically improve job satisfaction. People want to feel heard and trusted, and they thrive under managers who offer growth opportunities rather than micromanaging every detail.

Here’s how to align compensation with expectations:

Benchmark salaries regularly against industry standards. If competitors are offering 10% more, adjust your packages proactively to prevent top talent from jumping ship.
Be transparent about pay scales. Include salary ranges in job postings and discuss them openly during interviews to build trust from day one.
Offer perks beyond salary. Consider tuition reimbursement for continued education or a sabbatical program after five years of service to show your long-term investment in employees.

Flexibility: The New Workplace Must-Have

Flexibility in work arrangements has shifted from a nice-to-have to an expectation. Employees now crave autonomy over their schedules and the freedom to work from locations that suit them best.

Rigid policies requiring full-time office attendance? They’re driving talent away. In fact, 53% of employees who’ve been called back to the office are actively looking for new jobs. This trend shows just how beneficial it is to offer hybrid or fully remote options. Accommodating these preferences doesn’t just meet employee demands—it also opens up a global talent pool and boosts overall satisfaction.

Here’s how to embrace flexibility and promote work-life balance:

Let employees set flexible schedules—if someone is more productive working 7 a.m. to 3 p.m. so they can pick up their kids, accommodate it as long as the work gets done.
Encourage unplugging after hours—set clear policies where emails don’t need to be answered outside of work hours, allowing your team to recharge and avoid burnout.
Go for a goal-focused approach—prioritise outcomes and results over hours logged and midnight oil burned.

In many markets and industries, flexibility has moved from a nice-to-have to a dealbreaker. Employees want more than a token nod to hybrid work; they crave real autonomy over how, where and when they work. If companies fail to offer this, they aren't just missing out on fresh talent—they risk losing the top performers already on their payroll.

Beth Horsley
Partner UK

The DE&I Imperative

Diversity, Equity, and Inclusion (DE&I) aren’t just corporate catchphrases—they’re vital components of a healthy workplace culture. With today’s workforce more diverse than ever, employees expect diversity to be both reflected and respected within their organisations.

However, there's a noticeable gap between DE&I initiatives and employee perceptions. Only about one-third of workers believe their workplace is truly inclusive, and less than 20% are confident in the diversity of their senior leadership. These numbers highlight a significant area for improvement.

Discrimination remains a serious issue, too. Around two-thirds of employees who experience it stay silent, often out of fear of retaliation or doubt that reporting it will lead to change. This silence chips away at trust and can fuel a toxic work environment. Tackling these issues isn’t just the right thing to do—it’s essential for retaining top talent who value inclusivity and fairness.

Here's how to strengthen your diversity, equity and inclusion efforts.

Set specific, measurable DE&I objectives—for instance, aim to increase minority representation in key areas by 15% within the next year and provide regular updates to leadership on progress.
Implement mentorship programs—pair employees from diverse backgrounds with senior leaders to promote career growth and visibility within the company.
Create anonymous feedback channels—use tools like suggestion boxes or confidential surveys so employees can share their experiences and ideas on inclusion without fear of repercussions.

Embracing the AI Revolution

Artificial Intelligence (AI) isn’t some far-off concept—it’s already here, and it’s reshaping workplaces across industries. In fact, over half of workers believe AI will impact their long-term career plans, and about a third are already using AI tools in their roles today.

But with innovation comes anxiety. Employees worry about their job security and how AI might redefine their work. Here’s where leaders can shine: by acknowledging these concerns and offering support and training, you can help your team not just adapt but thrive in an AI-driven environment. Focusing on the human skills AI can’t replicate—like creativity, emotional intelligence and complex problem-solving—will be vital for keeping your people motivated and engaged.

Here's how to tackle AI changes side by side with your team:

Host hands-on AI sessions—show your team how AI can handle repetitive tasks like data entry, freeing them up for more creative projects.
Invest in tech training—offer stipends for online courses in AI, coding or data analysis. Helping your team upskill benefits everyone.
Celebrate human skills—recognise and reward things like creativity, leadership and empathy during performance reviews—qualities that AI can't replicate.

The future of work isn't humans vs. machines; it's humans working smarter with machines. Embrace AI to free your team from the mundane and let them focus on what truly matters.

Peter Kitchin
Managing Partner, North America

Your Talent Strategy 2.0

There’s no universal formula for attracting, engaging and retaining the talent you need. What clicks in New York might flop in Singapore. What appeals to a seasoned Baby Boomer might leave an up-and-coming Millennial cold.

Page Executive can help you tailor your talent strategy so that it flexes with the times while staying true to your core values. Get in touch with us today — let’s future-proof your talent strategy together.

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134 Years to Equality? Unpacking the Truth About DE&I in Global Leadership

Luciana Casado — Mon, 05 Aug 2024 11:24:35 +0000

134 Years to Equality? Unpacking the Truth About DE&I in Global Leadership Luciana Casado

Here’s a startling timeline: at the current rate of progress, it will take 134 years to reach full gender parity worldwide. The pace of change needs to pick up — not just for women but for all underrepresented groups in leadership positions.

Can senior leaders bring their true selves to work? How deep does the disability gap run in the C-suite? To what extent do diversity, equity and inclusion priorities shift across borders? To answer these and other questions, we wanted to dive deeper into the survey data that are the basis of Page Executive’s Talent Trends 2024 report. The insights of over 3,000 global leaders reveal both promising strides and stubborn hurdles.

How Leaders Really Feel about Workplace Inclusivity

About four in ten senior leaders report feeling they can be their authentic selves at work. While this edges above the average for all employees, it’s hardly a resounding success. Also, only 30% of these top-tier professionals view their workplace as truly inclusive. This figure, though slightly higher than the 26% reported across all levels, still leaves room for improvement.

Here’s the regional breakdown for leaders who feel they can be their authentic selves at work:

Latin America: 46% of senior leaders
Europe: 43%
Africa 39%
APAC 38%
North America: 32%
Middle East 25%

The fact that North America lags behind less economically developed regions like Latin America and Africa challenges the idea that financial success automatically translates to more inclusive workplaces. The Middle East’s low score compared to Latin America’s high one shows how much local culture shapes workplace dynamics. Creating an inclusive workplace is a multi-faceted challenge that requires understanding local contexts and a real commitment to empowering people to bring their whole selves to work.

Young Executives Vote with Their Feet on DE&I

While only 4% of senior leaders say DE&I dissatisfaction would make them job-hunt, that figure skyrockets to 17% for those in their 20s. That’s nearly as many as those leaving for traditional reasons like promotion or career progression.

These numbers point to a clear generational shift. Millennials and Gen Z aren’t just committed to DE&I — they’re willing to change jobs to find a more equitable culture.

One-size-fits-all approaches to DE&I don’t work. Companies working across borders need to listen to local voices and understand cultural nuances. At the same time, they need to maintain a consistent global commitment to diversity and inclusion. It’s a delicate balance, but getting it right can be a powerful driver of employee satisfaction and business success.

Margarita Maldonado
Associate Principal, Colombia

The Gender Divide: More Than Just Numbers

Diversity isn’t just a numbers game, but our leaders’ survey reveals a persistent gender gap that’s hard to ignore: 77% of respondents were men, compared to just 22% who were women (with 1% preferring not to say).

This gap varies significantly across regions. The Middle East and South America have the widest divides, with men outnumbering women by about 5 to 1. North America fares better with a 65%-34% split, and surprisingly, Africa isn’t far behind at 66%-33%.

Africa’s near-parity with North America challenges the idea that equity and economic development go hand in hand – cultural norms, policies and other factors play vital roles too.

Closing the gender gap in leadership isn’t just about pay equity. It’s about creating environments where women feel equally valued, recognised and supported in their career ambitions.

Nikunj Maheshwari
Associate Partner, India

Across all regions, our data points to significant differences in how women and male leaders feel about their careers and workplaces:

Climbing the ladder: Both male and female leaders are most likely to look for a new role because they’re unhappy with the strategy/direction of their current employer. However, women are significantly more likely than men to jump ship because they want a promotion (22% vs 15%).
Recognition gap: Women leaders consistently report feeling less recognised for their contributions, whether by managers, peers or customers.
Salary satisfaction: Interestingly, women report higher salary satisfaction (67% vs 61% of men) and are more likely to have successfully negotiated a recent pay rise (24% vs 18%). This challenges some common assumptions about gender and compensation.
DE&I focus: Regarding critical DE&I initiatives, women leaders prioritise closing the gender pay gap and increasing female leadership representation. Men, however, tend to focus more on preventing age discrimination. While not a top priority for either gender, more women (5%) than men (2%) rank DE&I policies as the most crucial aspect of company culture.

These findings paint a complex picture. Women are advancing in some areas but treading water in others. The challenge for organisations is to address the most stubborn disparities, not just the most visible ones.

Disability and Health: The Often-Overlooked Dimensions of Diversity

When it comes to disabilities and mental health, our data reveals some intriguing regional variations. North America leads the pack, with 19% of executives and senior leaders reporting a physical disability or mental health impairment. Europe follows at 11%, then APAC at 10%. Africa and Latin America report lower figures at 6% and 3% respectively.

From a diversity perspective, it’s encouraging to see individuals with disabilities reaching leadership positions. However, the regional disparities raise critical questions. Are these differences due to continued discrimination against people with disabilities in some regions, or do they reflect an unwillingness to self-identify for cultural or social reasons? It’s a complex issue that defies simple explanations.

Age and ability diversity in leadership isn’t just about fairness—it’s about harnessing a wealth of experience and unique perspectives. Companies that create truly inclusive environments for all ages and abilities could find themselves with a competitive edge in both innovation and problem-solving.

Quincy Wuyep
Senior Research Associate, Switzerland

Our data shows little difference between men and women or between LGBTQIA+ individuals and others when it comes to feeling authentic at work. The real disparity is among leaders with disabilities. While 43% of those with a physical health condition or impairment report feeling able to be their true selves at work, only 24% of those with a mental health condition or impairment say the same. There’s still work to be done in creating environments where those with mental health challenges feel supported and accepted.

A World of Difference: DE&I Priorities Around the Globe

How do DE&I priorities shift across different regions? In Europe and North America, preventing age discrimination is the primary concern, with 25% and 24% of respondents, respectively, marking it as their top priority. The ageing workforce is a significant issue on both sides of the Atlantic.

Latin American leaders have different priorities. Here, closing the gender pay gap is the primary focus, with 19% of respondents putting it at the top of their list.

The Middle East presents yet another perspective. In this region, promoting equity for diverse racial and ethnic backgrounds is the key concern, with 21% of respondents ranking it as their primary issue. They’re also at the forefront of efforts to get women into leadership positions, with 16% prioritising this issue—the highest of any region.

Despite these regional variations in DE&I priorities, one constant remains: DE&I policies consistently rank low as a factor in job satisfaction compared to work-life balance and competitive salaries. This could suggest a disconnect between the intended impact of DE&I efforts and how employees perceive them. It’s possible that the benefits of these programs aren’t being effectively communicated, or employees don’t see tangible results in their day-to-day work lives.

Organisations might need to rethink how they approach and present their DE&I initiatives. There’s room for improvement in making these programmes more transparent, accountable and relevant to employees’ everyday experiences.

The Road Ahead: Turning Complexity into Opportunity

DE&I isn’t simple. It shifts across regions, industries and genders. At Page Executive, we understand these nuances deeply. Our principals and partners, based in regions worldwide, can connect you with diverse talent that aligns with both your global values and local needs. Want to build leadership teams that truly reflect our diverse world? Get in touch with us now.

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What Do Today's Leaders Really Want?

Luciana Casado — Fri, 02 Aug 2024 15:24:11 +0000

What Do Today's Leaders Really Want? Luciana Casado

What if the next rung on the corporate ladder was a step too far? For many of today’s senior leaders, that’s exactly the case.

A striking finding from Page Executive’s Talent Trends 2024 survey reveals that nearly half (48%) of senior leaders would prioritise their personal wellbeing over a promotion. This challenges old ideas about career success and highlights a seismic shift in what executives care about.

Digging deeper into the data, we find that this trend isn’t uniform across industries. In life sciences, for example, a full 69% would say “thanks, but no thanks” to a promotion that might upset their work-life balance. Not-for-profit (58%) and business services (55%) aren’t far behind. At the other end of the scale, only 26% in media and agency would make the same choice.

Job functions tell a similar story. Customer service (66%), sustainability and ESG (57%), and health and life sciences (53%) top the list of those prioritising wellbeing. On the flip side, hospitality and leisure (38%) and secretarial and business support (10%) are less likely to turn down a promotion.

Interestingly, respondents who identified as LGBTQIA+ were significantly more likely to choose wellbeing over advancement (57% vs 46% for non-LGBTQIA+ respondents). Gender is another dividing line. Women at the top who are ready to turn down a promotion if it might upset their work-life balance outnumber their male peers by 54% to 47%.

These figures suggest a complex executive landscape where industry culture, job function and personal identity all play roles in shaping career decisions. While we can’t draw firm conclusions, it’s clear that for many leaders, “having it all” is being redefined.

Wellbeing vs. Advancement: A Global Perspective

When it comes to work culture, we sometimes paint countries and regions with broad strokes. The Anglosphere is typically seen as “hard-driving”, while Mediterranean countries are thought to enjoy a more leisurely pace. Our Talent Trends data, however, reveals a more complex picture.

Take Europe. Continent-wide, 57% of leaders would turn down a promotion for the sake of wellbeing. Zoom in, however, and things get more interesting. In Germany, a substantial 61% of executives put personal wellbeing first. Yet in Italy, only 26% share this view, upending stereotypes about Mediterranean work culture.

The variation within English-speaking countries is equally striking. A substantial 68% of leaders in both the U.K. and Australia put wellbeing first. In contrast, only 42% of their U.S. counterparts would make the same choice, suggesting that career progression is still at the heart of the “American Dream.” Meanwhile, India, with its rapidly growing economy, sits in the middle. A slight majority (52%) of Indian respondents prefer wellbeing to a promotion, hinting at shifting priorities as this all-important market evolves.

The whole focus on wellbeing isn’t a fleeting trend. We’re seeing a real shift in what it means to be successful in business. Companies that fail to recognise and adapt to this change risk losing their top talent to organisations that genuinely care about the wellbeing and happiness of their leaders.

Caroline van Gellrich – van Brakel
Senior Partner and Head of Page Executive Germany & CEE

Want to know how these changing priorities play into diversity, equity and inclusion? Discover more in our companion article on DE&I findings.

From Paycheck to Purpose: What Else Do Leaders Value?

Salary remains the make-or-break factor for job seekers when considering a role, whether they’re a CFO or an entry-level accountant. However, our survey reveals that leadership talent has distinct priorities beyond compensation that set them apart from the wider workforce.

While employees at all levels value flexible work arrangements and office location, executives tend to focus more on a company’s leadership team, culture and values when contemplating a move.

Company culture is a top priority, with 40% of senior leaders ranking it critical when considering a new role. The quality of the leadership team also plays a vital role in attracting top talent, with 38% of executives highlighting this as a major factor. It’s clear that senior professionals want to work alongside capable, inspiring colleagues who can drive the organisation forward.

Finally, a sense of purpose in one’s role or within the company is another key draw for 32% of leaders. Relatedly, more than 20% of survey respondents chose “Believe in the company’s leadership team” or “Clear set of company values” among the top three aspects of company culture most important to their job satisfaction. However, only 6% placed “Company ESG (Environmental, social and governance) policies)” in this category, suggesting that companies have significant work to do in effectively communicating their ESG initiatives and demonstrating their tangible impact.

In today’s market, a big paycheck is no longer enough to keep top performers loyal and engaged. Executives and leaders are looking for roles where they can make a meaningful impact while feeling valued and supported.

Carly Yau
Senior Partner Hong Kong

5 Ways to Attract and Retain Top Leadership Talent

The world of work is changing, and with it, the expectations of senior leaders. Here are five practical approaches to help you win and keep the best leadership talent based on our survey findings:

Build a culture where everyone’s a cheerleader: Our data shows an interesting twist: leaders feel more appreciated by their peers (78%) and customers (76%) than by senior management (73%). Why not tap into this? Create opportunities for team members to celebrate each other’s successes. Consider a platform where customer praise can be shared widely. When recognition comes from all directions, it creates a more satisfying work environment for everyone.
Be upfront about pay: While 35% of senior executives aren’t happy with their salary, it’s not always about the headline figure. Openness about how pay is decided can go a long way. Think about introducing transparent salary ranges and bonus structures. When leaders understand the “why” behind their compensation, it can boost trust and satisfaction.
Keep the learning curve exciting: Our survey reveals that 18% of leaders rank training and development as a top priority when eyeing a new role. Invest in programmes that help your leaders grow. This could be anything from mentoring schemes to projects that push them out of their comfort zone. The goal? Keep your top executive talent curious and engaged.
Rethink what flexibility means: Yes, 50% of senior executives work in hybrid setups, but flexibility isn’t just about where you work. It could mean flexible hours, sabbaticals or even job-sharing at the leadership level. This approach speaks to the 48% of leaders who’d choose wellbeing over a promotion.
Walk the talk on company values: A striking 37% of leaders say company ethics and values are essential when job hunting. Furthermore, 58% place it in the top 5 most important aspects of their current job, second only to work-life balance. A snappy mission statement is insufficient — your company’s actions must match its words. Involve your leadership team in decisions that reflect company values. When executives see integrity in action, they’re likely to stick around.

Implementing these strategies may require time and resources your in-house team lacks. That’s where Page Executive comes in. With their expertise and nuanced understanding of global markets, our principals and partners are ready to help you attract and keep the leaders who will drive your success.

Leadership Talent: Cracking the New Code

Today’s leaders want more than just a competitive salary. They’re looking for roles that offer purpose, support wellbeing and provide growth. It’s a balancing act, and what works for one executive might not suit another.

At Page Executive, we get it. We know how to match top talent with companies that tick all the right boxes. Ready to build a leadership team that’s fit for the future? Let’s start a conversation today.

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Why do executives turn down job offers?

kristinacrosshackett — Fri, 07 Oct 2022 15:33:30 +0000

Why do executives turn down job offers? kristinacrosshackett

Making an executive hire is time consuming and challenging. It might require weeks or months of meetings, significant expenditures of money, and much time spent drawing up the offer and consulting with lawyers.

After all this, a rejection by the chosen candidate can naturally be very frustrating. So why do candidates say no?

Here are some of the most common reasons that executives turn down job offers at the final phase.

The top reasons candidates say ‘no’

Interview experience. There are many ways that an interview experience can put off a candidate. It could be too slow, too fast, disorganised, or fail to provide enough feedback. Every touchpoint that the candidate has with the company is a glimpse into its culture, people and ways of working. Even seemingly small issues can be decisive.

Timing. The longer an executive role remains vacant, the more urgent it becomes to fill it. However, it’s important to get the timing of the offer right. Executive pay packages often feature annual bonuses, share pay outs, or long-term incentive plan payments, and candidates may want to resign after such payments. Failure to consider this, as well as other factors like long notice periods, can result in misaligned timings between employer and candidate.

The role is too similar. While there needs to be overlap and relevance between the candidate’s current role and the new role, too much similarity can end up discouraging them. The candidate may ask themselves: “Why should I take a risk without the opportunity for growth, challenges, or change?”

Inconsistent commitment to flexible working. Our recent Talent Trends survey showed that Managing Directors and Chief Executives in the UK feel overwhelmingly positively about remote and hybrid working. If the company’s policies around hybrid working change throughout the process, with the number of required in-office days rising between the initial discussion and the final offer, candidates may lose interest accordingly.

A low offer. Salaries are on the rise in the current hiring market, and employers who make offers below the market rate are likely to miss out on the best candidates. At Page Executive, we are seeing candidates leave their roles for pay increases of 18% on average, and it is exceedingly rare for someone to move backwards in salary for a new role. Employers should be sure to factor this in when budgeting for a role and making an offer.

Lack of vision. Sometimes we will see companies explain to the candidate the sorts of challenges they are facing and where they require help, but not share their wider vision or their longer-term strategy. For in-demand executives trying to make the best decision for their career, this doesn’t tend to inspire confidence.

A lack of connection. Many candidates who turn down offers from prospective new employers do so because they didn’t truly get to know the company. A three-interview long process, meeting the same person in the same room, often won’t be enough for a candidate to make such a big decision. They may feel that they haven’t been able to truly understand the company culture.

This is especially the case in processes with too many video interviews and not enough in-person meetings. Virtual interviewing has been a welcome innovation in recent years, but a totally virtual interview process isn't necessary and rarely secures a top tier candidate.

A counteroffer or alternative role. We are in a very competitive recruitment market and companies are working hard to cling onto their best people. In our experience, after accepting an offer and signing the contract, most candidates receive counter offers of higher salaries from their soon-to-be former employers. Similarly, many will have multiple offers on the table at the same time, making them more likely to turn down even strong offers.

Concern about volatility. With so much talk about an economic slowdown, candidates at all levels of seniority are worried about taking new jobs and being ‘last in first out’. Executive candidates are no exception, and many of the professionals we talk with have significant reservations around starting a new job with a short notice period, particularly in sectors or companies that are volatile.

What this means for employers

If you want to give yourself the best possible chances of securing the candidate you want at the end of a recruitment process, there are several different areas to focus on.

Ensure that the interview process leaves a positive impression and begins at the right time for both parties, whilst highlighting the opportunities on offer at your company, and the quality of the package. At the same time, remember that in such a candidate-driven market, competitors and even the individual’s current company may attempt to lure them away with superior offers. This requires continuous communication and active efforts to ensure that they are still engaged with the offer.

Looking for executive talent?

The executive recruitment landscape is challenging at present, but you don’t have to navigate it alone. For a long-term relationship with an executive recruitment consultant you can trust, contact Page Executive today.

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How to Build Your Talent Pipeline: Succession Planning Starts with Smart Hiring [8 TRENDS]

Daniel Whitehead — Thu, 28 Jul 2022 08:44:27 +0000

How to Build Your Talent Pipeline: Succession Planning Starts with Smart Hiring [8 TRENDS] Daniel Whitehead

Recruiting and nurturing high-potential talent is key to future-proofing companies in a competitive landscape.

A shortage of talent combined with rising burnout in the wake of 2021’s business challenges left many companies scrambling to find the right candidate for the job. When leadership roles are unexpectedly left empty, the focus typically turns to filling the gap as soon as possible. And while agility is often praised as key to resilience, such experiences highlight the need for a more durable solution to keep the talent pipeline flowing. In this sense, the most robust businesses are those that prioritise succession planning.

As organisations across the globe expand and look to the future, it is clear that a reactive approach will not be enough to ensure long-term stability. Angela Yang, Partner Southeast Asia explains:

The biggest lesson that many of my clients learned from the pandemic is the importance of having alternatives and backups in place when unforeseen circumstance arise, such as suddenly losing an executive leader. From now on, I think companies will more diligently stress-test their business continuity plans and succession planning.

Angela Yang, Partner South East Asia

Succession planning is particularly critical for companies to remain competitive in industries with high turnover, such as technology and healthcare. Competition for the best executive candidates is fierce, making succession planning and talent management all the more relevant to these sectors. As a result, forward-thinking recruiters should search for not only executive talent, but promising mid-level and senior candidates who could soon be ready for top leadership positions.

KEY TAKEAWAYS:

Global competition for executive talent has only become fiercer, while companies continue to struggle with employee retention and burnout. Succession planning is essential for businesses to tap their internal talent pool, and avoid the risk and expense of external hiring at short notice. The best recruiters should be on the lookout for candidates who are eager to learn and grow, and more likely to stay with an organisation over time.

External partners can offer companies valuable perspective on their positioning in the talent market. By providing tools and guidance, partners can help to identify potential talent gaps and assess the suitability of internal candidates for leadership roles.
Succession planning starts with recruiting high-potential candidates and continues through talent development and nurturing. A robust success plan improves engagement and productivity, making companies more competitive in the long run.
An effective succession plan must be created through cross-departmental collaboration. All leaders should be involved in order to recognise talent and determine the organisation’s long-term and short-term needs.

Why Succession Planning is a strategy for success

Although the benefits are significant, many organisations have neglected to invest in succession planning. This oversight may be due to various factors. In a dynamic market, attention and resources can easily shift from talent retention to recruitment. Meanwhile, some business leaders may be reluctant to enter frank conversations that acknowledge the inevitable: that at some point, even the best employees will need to be replaced.

Creating a culture that embraces change and professional development is vital to future-proofing companies. Through succession planning, organisations make it easier to fill potential openings while boosting worker loyalty and engagement. Career progression pathways and talent development programmes provide a clear blueprint to achieving realistic aspirations and can help ensure that high-potential employees feel valued and motivated. As a result, businesses can expect a decrease in employee turnover and an increase in productivity.

Succession planning is especially important to retaining top performers, whose contributions are even more valuable in highly complex fields. McKinsey estimates that high performers in these environments are eight times more productive than average performers. Personalised career development programmes can therefore play a major role in protecting an organisation’s most talented employees, who are among the quickest to leave if disengaged and the most expensive to replace.

Building a robust succession plan

External recruitment partners can play a vital function in establishing a succession plan that ranges from initial hiring to the highest levels of talent development. In many businesses, a common mistake is to leave the responsibility of succession planning solely in the hands of HR. While the HR team should be entrusted to set up meaningful performance reviews and to encourage a culture of talent development, cross-departmental collaboration is needed to determine talent gaps and identify top performers across different functions and geographies. This is particularly relevant to filling senior leadership roles in highly specialised or technical areas, where a poor fit can have negative consequences for daily operations and the business as a whole.

C-suite leaders should implement a succession plan early on to avoid gaps in leadership and to prevent the pressure to make hasty decisions when a senior leader leaves unexpectedly. Long-term succession planning involves identifying high-potential employees and providing them with exposure to responsibilities and skills training beyond their current role. By working together with an external partner, organisations can see how to best position themselves in their market.

According to Simonetta Saprio, Senior Partner and Global Healthcare and Life Sciences Practice Leader:

Companies increasingly benchmark between their internal resources and external ones, not only to ensure the robustness of their succession plan, but to also better understand how to attract promising talent and how to upskill their workforce to meet market needs.

Simonetta Saprio, Senior Partner & Global Healthcare and Life Sciences Partner

By creating benchmarks for next-level positions, leaders can measure the readiness of employees to be promoted. At the same time, customised assessments should be carried out to evaluate the unique skillset of each candidate, as well as to ensure that their career progression aligns with their own professional ambitions. These processes can be integrated into leadership development or fast-track management programmes, which themselves serve as added incentives for high-achieving employees.

Crucially, an effective succession plan takes a holistic approach to talent management. It is not enough to focus on preparing candidates for the most senior leadership roles, because every internal promotion leaves behind a new vacancy. Succession planning must take these consequences into account in order to produce a resilient talent pipeline. Business leaders ought to consider the short-term as well as the long-term needs throughout the organisation, identifying candidates who may be ready for a new position in one, two or three years, and any potential gaps where external recruitment may be required.

Succession Planning with external support

Specialised expertise and experience are valuable resources in any industry. By developing their own talent pool, companies stand a better chance of weathering unexpected storms. However, succession planning is not simply an emergency preparedness tool. When implemented thoughtfully, a succession plan promotes learning, improves engagement and retention, and ensures the preservation and transfer of knowledge and key skills.

Yang notes, “In the past, most companies needed succession planning to launch new businesses or strategies. They required skillsets such as self-initiative, innovation and a willingness to learn so as to drive these changes.” Today, we find that succession planning is itself a cost-effective strategy to make companies more competitive. Nonetheless, establishing a succession plan from the ground up can be a daunting task. To begin with, organisations might consider seeking external guidance or outsourcing the succession planning workload.

A supportive external partner should be able to provide the tools and knowledge for assessing internal talent and appointing the right leaders. At Page Executive, we help companies to not only identify executive talent, but to map out the entire talent pipeline. Saprio says, “Our role goes beyond filling vacancies to helping clients redesign their organisation as a whole. A key part of this process is to evaluate talent and competencies through executive assessments and executive coaching.” Such an approach is essential to developing high-potential candidates over the long term and building the resilience to thrive, no matter what the future brings.

KEY TAKEAWAYS:

External partners can offer companies valuable perspective on their positioning in the talent market. By providing tools and guidance, partners can help to identify potential talent gaps and assess the suitability of internal candidates for leadership roles.
Succession planning starts with recruiting high-potential candidates and continues through talent development and nurturing. A robust success plan improves engagement and productivity, making companies more competitive in the long run.
An effective succession plan must be created through cross-departmental collaboration. All leaders should be involved in order to recognise talent and determine the organisation’s long-term and short-term needs.

Summary

Recruiting and nurturing high-potential talent is key to future-proofing companies in a competitive landscape.

Looking to hire your next leader?

Get in touch with one of our consultants now to discuss your leadership talent requirements.

Find a consultant

Looking for your next leadership challenge?

Explore our open opportunities right now.

Search jobs

Looking to build a Sustainability function in your organisation? Download our free eBook now.

Are you looking to hire? Request a call back from our team of experts now.

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From Access to Authenticity: Building a More Inclusive Normal [8 TRENDS]

Daniel Whitehead — Tue, 05 Jul 2022 13:20:20 +0000

From Access to Authenticity: Building a More Inclusive Normal [8 TRENDS] Daniel Whitehead

Workplace 4.0 is becoming more accessible to professionals with disabilities, but building an inclusive company goes beyond hiring for diversity and checking boxes.

The global pandemic has been extremely difficult for people with disabilities – for example, in the UK, 71% of employed professionals with disabilities feel their work has been impacted, with 18 to 24 year olds feeling it most acutely. Fear over redundancy, requests to shield due to increased clinical risk and economic uncertainty are squeezing equality out of the workplace. But we have a prime opportunity to restore it – and more strongly than ever. The rise in remote work, conversations around mental health and a focus on D&I have spurred a movement towards greater accessibility for colleagues with disabilities.

As HR departments and recruiters around the globe reboot, we’re realising that one size has never fitted all. The long-overdue transformation to make our workplaces more inclusive starts in the C-suite, in attracting, positioning and training executives who can build equality into our environment, culture and business practices.

KEY TAKEAWAYS:

The pandemic has taught us that there’s never been a greater need or better time to build a more inclusive work culture. There is no shortage of highly talented professionals with disabilities, but leaders need to build in greater understanding of how to work with them. Hiring for diversity is just the beginning. Care and attention to detail must be applied through the onboarding process and beyond, and processes and goals constantly reviewed, to ensure that the needs of people with disabilities are met. If professionals with disabilities feel accepted and supported, company culture and the business will follow, making an organisation more attractive to these candidates and raising retention rates.

The more authentic a company and its leaders can be in terms of its diversity and inclusion policy, the more credibility, motivation and mutual understanding it will generate among its workforce and candidates.
Beyond logistics, leaders must focus on fostering a culture of equity and acceptance for people with any kind of disability – visible or otherwise. Leaders should be sensitive in how they approach delicate matters like disclosure in order to allay fears of positive or negative discrimination.
Leaders must become allies to employees with disabilities. This means participating in positive messaging and awareness-raising activities, and providing their managers with relevant resources – before they add inclusive employer to a job listing.

Make diversity your calling card

Even before the pandemic, inclusive organisations saw diversity become a key driver for success. According to an Accenture white paper, companies that succeeded in incorporating candidates with disabilities have seen 28% higher revenue and two times higher net income.

According to the National Organization on Disability, there are 33 million people of working age with disabilities in the US, and 75% of them want to and can work – but are not employed. Even in the Nordic countries, and other parts of the world like Mexico and Switzerland, which have the highest employment rates for people with disabilities, the challenge goes beyond merely hiring a more diverse workforce.

“If we bring in a group of diverse individuals without a support system or culture of inclusivity, there is no way we can retain a diverse workforce,” explains Laura Salkowski, Associate Director HRBP.

First and foremost, leaders must educate themselves on what’s needed and then work with their managers and teams to ensure that once someone with a disability is onboarded, they feel welcome, empowered and embraced by their co-workers, as Sidhika Hemraj, Diversity Equity & Inclusion Lead explains:

Leaders need to be the biggest allies for those living with disabilities. They also need to be fully engaged with the Facilities department to make sure that offices are accessible and to provide managers with the right resources to share with their teams.

Sidhika Hemraj, Diversity Equity & Inclusion Lead

Keep it real

Ensuring workplace safety and accessibility is paramount, but disability inclusion goes beyond building a ramp or adapting a desk. Core elements such as digital accessibility, self-ID surveys and other due diligence can seem overwhelming, but there are practices to help companies develop effective diversity and inclusion programmes.

Not all disabilities are visible, and leaders must approach the sensitive issue of disclosure with empathy and discretion, as Steve Ingham, CEO, asserts:

“Many people would prefer not to disclose their disability because they’re worried about positive or negative discrimination. But there are ways of anonymously measuring the proportions in your business. So you might not identify that one individual as disabled, but you might at least get an idea of the proportion of people that have mental health challenges or physical disabilities or illnesses.”

Leaders also have a responsibility to set the tone so that when a person with disabilities joins the workforce, their needs are met efficiently and effectively and they don’t feel singled out or sidelined.

You don't have to be a woman to care about gender. You don't have to be black to care about unity and race. you don't have to be disabled to care about disabled people. Authenticity is what counts. And it's not just being passionate about inclusion, it's about taking action.

Steve Ingham, CEO PageGroup

Authenticity often implies a shake-up of company culture, but the rewards can be exponential: physical and psychological barriers are broken down, cohesion and motivation improve, and employees of all abilities feel they can fulfil their potential.

Build an inclusive company culture

Companies that position leaders to proactively support people with disabilities show that they accept and appreciate candidates who are different. This in turn builds solidarity among their employees, and can boost attraction and retention of top talent.

If companies are able to develop inclusive culture, where they're willing to ask questions and genuinely listen to people, to enable them to perform at their best, it's not only going to support people with a disability, it's going to support everyone.

Ollie Thorn, Senior Manager

Leaders looking to develop a more inclusive culture should include themselves in messaging and awareness-raising efforts. In the US, many companies celebrate National Disability Employment Awareness Month, benchmark their progress with barometers and evaluation tools from non-profit organisations, and feature employees with disabilities in branding materials.

Enhanced training can help people with disabilities to feel more welcome and supported, as Salkowski explains: “One of the most difficult things people with disabilities encounter when they adopt a new role is looking around the room and not seeing a single person that looks like themselves.”

Surveying employee attitudes can kick-start a company’s approach and even encourage individuals to speak up about their own experiences with disabilities. Some organisations also nominate diversity champions or advisors, or support disability resource groups within and beyond their own four walls.

An inclusive company culture is ultimately based on the concept that there is no more “them and us”. We are all us, with all of our abilities and disabilities, as Ingham concludes: “20% of the population are disabled in some way and 80% of that 20% ‒ 16% of the population ‒ will become disabled during their lifetime. Imagine if 16% of our employees resigned one day ‒ where would we be as an organisation?”

KEY TAKEAWAYS:

The more authentic a company and its leaders can be in terms of its diversity and inclusion policy, the more credibility, motivation and mutual understanding it will generate among its workforce and candidates.
Beyond logistics, leaders must focus on fostering a culture of equity and acceptance for people with any kind of disability – visible or otherwise. Leaders should be sensitive in how they approach delicate matters like disclosure in order to allay fears of positive or negative discrimination.
Leaders must become allies to employees with disabilities. This means participating in positive messaging and awareness-raising activities, and providing their managers with relevant resources – before they add inclusive employer to a job listing.

Summary

Workplace 4.0 is becoming more accessible to professionals with disabilities, but building an inclusive company goes beyond hiring for diversity and checking boxes.

Looking to hire your next leader?

Get in touch with one of our consultants now to discuss your leadership talent requirements.

Find a consultant

Looking for your next leadership challenge?

Explore our open opportunities right now.

Search jobs

Looking to build a Sustainability function in your organisation? Download our free eBook now.

Are you looking to hire? Request a call back from our team of experts now.

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More Than a Number [8 Trends]

Daniel Whitehead — Thu, 16 Jun 2022 09:14:35 +0000

More Than a Number [8 Trends] Daniel Whitehead

Will the question of age become redundant in tomorrow's executive search?

The old adage that age is just a number is playing out in the C-suite. The corporate environment is evolving in unprecedented ways, and many S&P 500 companies have added younger directors to their boards to respond to new business needs. With D&I topping many corporate agendas, it’s becoming clear that a lack of age diversity can hold a company back. Not surprisingly, forward-thinking organisations are dispensing with the traditional approach, where talent would typically enter executive level at around the age of 50.

With Millennials dominating the workforce and many of them now kicking 40, bold sectors like tech and healthcare & life sciences are spearheading the trend and hiring executives from 35 onwards, laying the ground for a thorough shake-up of the C-suite. They’re bringing in talented young professionals, looking beyond their own industry, supporting them in building high-potential networks and investing in coaching programmes. Why?

KEY TAKEAWAYS:

As business continues to be unusual, forward-thinking companies are looking beyond the years candidates have chalked up, and considering the capacity of younger leaders to inject vital energy, vision and understanding into their C-suite and beyond. While age may progressively cease to be a factor in hiring tomorrow’s leaders, companies can partner with experienced recruitment partners to ensure that younger talent is equally or more equipped to steer a company towards a brighter, more meaningful and more competitive future.

Tomorrow’s executives will be a “perfect fit” with a company’s values, cultures and objectives, regardless of their age.
Smart companies consider strategy, synergy and succession planning above years of experience. Bringing in younger executives – including those from other industries – can shake up the C-suite (and the whole organisation), build competitive advantage and boost attraction and retention of talent.
Recruiters can support aspiring executives by finding them the right positions, supporting them in networking, and providing coaching and soft skills training.

Mind the gap

In many sectors, the skills talent gap has rippled across and beyond the board, with new positions for executives opening up in record numbers in some markets. In Australia,[1] more new positions for executives were created in the first half of June 2021 than in 2017, far exceeding the number for the first six months of 2020.

While not all companies are racing to fill the board with younger candidates, strategically hiring Millennial leaders to meet the different needs and demands in the markets, and to communicate meaningfully with next generation customers and colleagues, is set to become the newer normal, as Ainara Ormazábal, Executive Director Mexico, explains:

Many companies are aware of the need for age-diversification in their C-suites to better connect to younger generations. Some are already bringing in younger executives with specific tech knowledge or scientific experience. I see this shift playing out across many more sectors in the next five years."

Ainara Ormazábal, Executive Director Mexico

To hire... or not to hire a young executive?

Younger executives are often well versed in digital transformation, diversity and inclusion, and sustainability. These highly valued competences can complement or contrast with older counterparts’ skillsets, especially when it comes to talent attraction and retention.

Millennials often bring technical fluency and innovativeness to the table. Companies like Alibaba are constantly looking for “talented young executives to take on more responsibility”. Jack Ma, founder of the e-commerce giant, is convinced that the next generation of Alibaba people are “better equipped” to run the internet ecosystem.

Today, more than ever, younger executives tend to be driven by purpose.[1] They want to work for (and lead) ethical companies, and their empathy and understanding often crystallises in a focus on socially and environmentally conscious actions, and versatility towards changing expectations of the workplace.

The definition of making a difference in a company is different to how it was before the pandemic. I recently placed a CFO who was born in the 80s. This generation tends to be entrepreneurial, courageous and accustomed to moving jobs. They've experienced different business models, which gives them a variety of tools."

Raphael Asseo, Partner Switzerland

What a young executive may have yet to learn in terms of lived experience – such as keeping a company afloat throughout a financial crisis – is often counterbalanced by next generation skills and savvy [2] that can invigorate an organisation. This includes relentless passion and positivity, an ability to understand and connect with younger consumers, fast learning, a tendency to challenge assumptions and a one-way ticket to a succession plan. After all, who doesn’t want to position their company to be relevant and successful in 10, 20 or 30 years?

Trust, but verify

Millennials are currently the largest segment in the workplace.[1] By 2025, 75% of the global workforce is expected to be made up of this generation, including leaders. Bringing a young executive into a company requires planning, preparation and monitoring.

“The executive table isn’t the casino table, and trust is the common denominator when selecting a younger candidate to join the board,” says Raphael.

It boils down to balance: compensating a lack of seniority and experience with the support of more seasoned colleagues who can offer training. Companies can connect younger execs with mentors outside of the boardroom, and support them in developing their network. If an organisation can spot and support potential synergies, the results can be exponential, infusing positive change throughout the C-suite and across the company.

Companies that might not yet feel ready to take the plunge and still equate executive hires with their years of experience can explore partnerships and initiatives that bridge the generation gap and bring them the best of both worlds, as Ormazábal explains: “At Page Executive, we’re becoming a partner for young, aspiring executives, and helping those at senior leadership level to hone their soft skills so they become ready for their next step.”

Preparing Milennials for executive leadership

Priming younger executives to lead an organisation proudly, boldly and decisively requires investment. This forward-thinking, self-demanding generation requires nurturing to thrive. With their gusto, global vision and contacts to guide them, companies can bring out the best in the next generation of leaders without ruffling more mature feathers. In addition to training, mentoring and shadowing, a wealth of tools and techniques exist to ease integration and enhance inter-generational communication.

For companies who aren’t ready to appoint a young leader, shadow boards [1] invite employees to form a second board with its own agenda to work with senior executives on strategic initiatives. They help younger team members feel part of a company’s mission and direction, while simultaneously injecting a breath of fresh air into board decisions. Appointing non-executive directors is another positive and inclusive move Asseo feels is well worth cultivating. “In Switzerland, I’ve seen an appetite among young talent for non-executive director roles, and that’s usually a career choice. They feel they have a lot to bring to the table on a strategic level.”

KEY TAKEAWAYS:

Tomorrow’s executives will be a “perfect fit” with a company’s values, cultures and objectives, regardless of their age.
Smart companies consider strategy, synergy and succession planning above years of experience. Bringing in younger executives – including those from other industries – can shake up the C-suite (and the whole organisation), build competitive advantage and boost attraction and retention of talent.
Recruiters can support aspiring executives by finding them the right positions, supporting them in networking, and providing coaching and soft skills training.

Summary

Will the question of age become redundant in tomorrow's executive search?

Looking to hire your next leader?

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Innovative, Persuasive and a Magnet for Talent: Meet the New CIO [8 Trends]

Daniel Whitehead — Mon, 16 May 2022 15:00:57 +0000

Innovative, Persuasive and a Magnet for Talent: Meet the New CIO [8 Trends] Daniel Whitehead

Equally adept at tackling technical challenges and convincing teams to put plans into action, the modern Chief Information Officer has a double duty to drive businesses forward while retaining and engaging their sought-after talent.

Telework. Remote learning. Digital healthcare. Cybersecurity. The Chief Information Officer is no stranger to change, but in a short period of time, the rapid developments of digital transformation have dramatically expanded the role of the technology leader.

KEY TAKEAWAYS:

As digitalisation transforms businesses and industries, the CIO is increasingly involved in all aspects of the organisation, pushing demand for talented technology leaders to an all-time high. Given their expanded role, modern CIOs need a broad range of soft skills in addition to technological expertise to thrive as executive leaders and managers.

The CIO must not only envision their organisation’s digital roadmap but also persuade all stakeholders of the benefits of digital transformation. A combination of technical expertise and human understanding is critical to achieving both objectives.
As an integral member of the C-suite leadership team, today’s CIO requires thorough knowledge of the organisation, with a commercially strategic mindset to steer the business to success.
The global technology talent pool is highly competitive. Recruiters should keep an open mind, giving priority to professionals who demonstrate the ability to lead and to keep teams engaged, as well as the relevant hard skills. The best candidates should be able to tap into a well-established network, increasing opportunities to attract fresh talent.

From customer experience and supply chain interaction to internal operations, digital adoption has accelerated at both the organisational and the industry level. In fact, McKinsey estimates that companies have sped up the development and launch of digitally enabled products in their portfolios by seven years.

Unsurprisingly, talented technology leaders are more in demand than ever. As Donna Croucher, Partner UK, explains, “E-commerce businesses increasingly want to reach their clients directly, rather than going through a third party. This has led to a surge in demand for expertise in data and customer insights, making it all the more important to recruit the right CIO for the job.”

E-commerce businesses increasingly want to reach their clients directly, rather than going through a third party. This has led to a surge in demand for expertise in data and customer insights, making it all the more important to recruit the right CIO for the job.

Donna Croucher, Senior Partner UK

As technology accelerates all facets of business, CIOs are increasingly involved in all aspects of their organisation. Finance, marketing and human resources are equally likely to be within the purview of the modern CIO as more traditionally tech-focused departments, such as IT and R&D.

CIOs therefore need effective negotiation and persuasion skills as well as technological expertise in order to educate, engage and propel the business forward. An ability to obtain buy-in across the board is essential, because the success of new digital implementations often hinges on human factors. Jaime Dominguez, Partner Mexico, observes, “Throughout the pandemic, digital transformation was a game changer for all industries. A major challenge, however, is knowing how to effectively adapt to a new working culture through technology. The onus is on the CIO, who must be able to foster a new engaged work culture remotely. A strong executive candidate should bring a track record that demonstrates those leadership skills.”

Taking the digital roadmap from vision to action

The role of the CIO is twofold: technology leaders must envision the best digital roadmap for their organisation, and they must also sell that vision to all stakeholders to ensure its successful implementation. Both of those responsibilities require a balance of technical expertise and human understanding.

Developing a digital roadmap involves more than mere considerations of what is technically feasible. Technology serves to build tools for people, but the launch of new digital systems or products can only be as successful as their human adoption. Whether for external customers or internal employees, a people-centric approach is key to developing effective digital solutions.

CIOs can tackle this challenge by first identifying the behaviours that would most benefit their organisation, then devising the digital tools capable of encouraging such behaviours. Naturally, leaders must take into account the needs and desires of the end user as well. While the shift to a people-first approach to technology may initially seem daunting, the results are well worth it: according to Gallup Research, companies that apply the principles of behavioural economics outperform their peers by 85% in sales growth and more than 25% in gross margin.

Once technology leaders have mapped their digital strategy, their next step is to make it happen. Croucher notes, “Communication and people skills are absolutely paramount to success as CIOs need to be able to coordinate between all departments, influence those showing resistance to change and ultimately sell the concept of digital transformation.”

So how can CIOs convince teams to follow them on this digital journey? To earn trust, executives must show they understand not only the technology behind digital transformation but also its impact across the business. Whether through group presentations or one-on-one conversations, the CIO needs to transmit their expertise and convey the benefits of new technologies. Only then can they succeed in obtaining the proactive and enthusiastic support of fellow leaders and stakeholders essential for putting any digital plan into action.

Driving innovation from the C-suite table

As the role of the CIO has expanded, so too has their influence within an organisation. The modern CIO now has an integral place at the C-suite table. Observing this shift, Croucher says, “Traditionally, in mid-size businesses, the IT director reported to the CFO. Only recently have we seen a rise in demand for the role at C-level, as companies increasingly recognise that digital technology is fundamental to driving the business forward.”

Much more than simply the head of a department, today’s CIO is tasked with fostering innovation across the entire organisation. This process begins with enabling the leadership team to understand how technology can be adopted to enhance the business as a whole. In order to propose and to persuade, the CIO must be a commercially strategic thinker as well as a digital expert. Technology leaders should be well versed in risk management and the financial and legal implications of matters such as cybersecurity and data privacy.

Likewise, executive leaders have come to rely on the CIO as an indispensable decision-making partner. “The new CIO is no longer just the tech professional. They know the ins and outs across the business, and often act as a right-hand for the CEO, with whom they share ongoing strategic conversations around the various factors that may impact the business as much as Covid has,” explains Dominguez.

Technological expertise and persuasive leadership: finding the right CIO

The modern CIO’s double responsibilities as collaborative leader and team manager underscore the importance of emotional intelligence to this role. Croucher points out, “CIOs must be able to communicate on all levels, from C-level all the way down. Their own technology teams are made up of highly skilled, in-demand talent, so they need to be able to keep them engaged while maintaining a good working culture within the team. A lot of these teams will be working remotely, which is another challenge in itself.”

Particularly in a hybrid workplace, soft skills are crucial for technology leaders to ensure that teams remain motivated and productive. But how can organisations identify candidates with the qualities to succeed as CIO?

Recruiters should look for evidence of leadership, empathy and communication skills in addition to technological expertise. A multi-faceted approach is best to evaluating a candidate’s potential. As Croucher says, “When recruiting for tech leaders, I pay a lot of attention to the behavioural assessment of the candidate. What are their competencies? What kind of manager are they? This involves getting referrals from a lower level to determine their previous leadership performance and capabilities.”

Given the broad skillset required for the role, recruiters should also keep an open mind and consider qualified professionals with more holistic experiences. “Candidates do not necessarily have to come directly from another CIO position. For example, a professional with a strong background in development engineering who has the necessary skills and, more importantly, the passion and motivation to continue developing them can be very promising,” says Dominguez. Recruiters would do well to keep diversity in mind; the CIO role can serve as a powerful bridge towards building gender parity in a field where women remain underrepresented.

Candidates do no necessarily have to come directly from another CIO position. For example, a professional with a strong background in development engineering who has the necessary skills and, more importantly, the passion and motivation to continue developing them can be very promising.

Jaime Dominguez, Partner Mexico

Finally, it should be noted that the technology talent pool is extremely competitive. In today’s market, capable technology candidates are highly sought after, and thanks to remote work, they are often contenders for worldwide opportunities. Meanwhile, the personal brand of technology leaders can be very powerful, opening doors to a network of talented contacts. HR teams should therefore handle their search for technology talent with agility and care, giving priority to CIO candidates with a track record of keeping teams engaged over the long term. Ultimately, leadership capabilities and a passion for people are traits that will set a successful CIO apart.

KEY TAKEAWAYS:

The CIO must not only envision their organisation’s digital roadmap but also persuade all stakeholders of the benefits of digital transformation. A combination of technical expertise and human understanding is critical to achieving both objectives.
As an integral member of the C-suite leadership team, today’s CIO requires thorough knowledge of the organisation, with a commercially strategic mindset to steer the business to success.
The global technology talent pool is highly competitive. Recruiters should keep an open mind, giving priority to professionals who demonstrate the ability to lead and to keep teams engaged, as well as the relevant hard skills. The best candidates should be able to tap into a well-established network, increasing opportunities to attract fresh talent.

Summary

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Agents of Transformation [8 Trends]

Daniel Whitehead — Tue, 26 Apr 2022 08:54:31 +0000

Agents of Transformation [8 Trends] Daniel Whitehead

Why attracting and retaining sustainability leadership makes a world of sense

These days, everyone’s talking about making business more sustainable ‒ and sustainability leadership is central to ensuring these words become actions. Purpose-driven employees and candidates want to work for companies that live and breathe the values by which they brand themselves. Sustainable business starts with sustainable leadership – and this is increasingly taking the form of a Chief Sustainability Officer (CSO) joining the C-suite to drive awareness and engage key decision-makers in achieving sustainable outcomes. Recruiting for sustainable leadership implies a shake-up in the way board and C-suite leaders are selected, but if done well, it can ensure a company’s future won’t cost the earth.

KEY TAKEAWAYS:

Bringing in sustainable leadership reassures present and future employees that a company is taking CSR seriously. Organisations that invest in change from the top-down, and show their workforce and the world that deep cultural transformation is possible, will lead by example.

CSOs ensure an organisation’s business practices are economically, environmentally and socially sustainable. They need unwavering belief, unflinching vision, a deep understanding of the business and great powers of persuasion to drive real change at board level.
Sustainable leaders can move from one industry to another, and this can be of great benefit for a company, especially if the candidate comes from an organisation or sector with a well-established sustainability agenda.
Greenwashing won’t wash with today’s purpose-driven employees and candidates, who will hold a company to task for making empty promises. They want concrete CSR actions that help them feel seen, heard and proud of the fruits of their labour.

Giving sustainable leadership the green light

Millennials are set to make up 75% of the workforce by 2025. They are typically drawn towards companies with a demonstrably strong sense of Corporate Social Responsibility (CSR) and away from those whose sustainability promises don’t translate into business practices.

Sustainability professionals are very smart. They know if a company is just ticking a box when hiring a sustainability leader. They will only make a career move if they can identify a company's intentions to take action and if they truly believe they can make a difference and drive real change in an organisation.

Nina Buttle, Senior Partner UK

“Sustainability professionals are very smart. They know if a company is just ticking a box when hiring a sustainability leader. They will only make a career move if they can identify a company’s intentions to take action and if they truly believe they can make a difference and drive real change in an organisation,” says Nina Buttle, Partner UK.

A 2021 MIT study reveals there’s still ground to cover – while 90% of executives think sustainability is important, only 60% of companies have a sustainability strategy. The time to act is now. Many investment organisations base their go or no-go decisions on assessment tools that connect ESG performance with corporate performance. Kudos for sustainable business practices travels fast, but so does backlash against hollow claims. With climate change trending on virtually every thread, today’s employees and candidates voice their opinions on the subject far and wide.

Attracting and retaining sustainability-focused leaders requires a cultural shift in which sustainability knowledge is shared and put to work, to create visibility for a company’s values and behaviour. The question organisations must now ask themselves is not just what might happen if they make the leap towards sustainable leadership – but what could happen if they don’t, as Joanna Bonnett, Head of Sustainability PageGroup explains: “There is no greater priority than protecting and preserving our planet. We have an urgent need for sustainable leaders who can drive financial success and ensure our survival.”

Building momentum for the CSO

The role of Chief Sustainability Officer (CSO) is set to gain even greater prominence in the next few years – with Deloitte hailing it the “sense-maker in chief” in an organisation. A CSO embodies a company’s commitment to embedding ESG into all its business practices. The Acre white paper The Emergence of the Chief Sustainability Officer highlights the versatility crucial to becoming and staying a successful sustainable leader: The CSO must collaborate with the C-suite on embedding effective processes and practices, convincing shareholders, reassuring employees, and engaging with policymakers and regulators to build a truly sustainable business for future generations.

Sharp analytical skills are essential among these leaders, as they undertake to propel an organisation forward with a much lighter carbon footprint. “Whilst increased access to information has revolutionised the business world, it's fair to say many organisations drown in data. In terms of sustainability, leadership will certainly have a challenge in the near future in being able to obtain, manage and translate data into meaningful actions," Bonnett affirms.

Whilst increased access to information has revolutionised the business world, it's fair to say many organisations drown in data. In terms of sustainability, leadership will certainly have a challenge in the near future in being able to obtain, manage and translate data into meaningful actions.

Joanna Bonnett, Head of Sustainability PageGroup

Sustainability leaders also need keen strategy skills to measure the risks and opportunities of each ESG action, and to keep an organisation competitive. Ultimately, CSOs are agents of transformation, who must inspire those above and below them, and revolutionise corporate culture from the inside out. Even with the board onboard, exceptional soft skills are required to convince clients, shareholders and employees that change is inevitable, positive and sustainable. People who do well in these roles are passionate about sustainable practice, well versed in the circular economy and can articulate their methodologies effectively and coherently. “Thought leadership is becoming more and more visible in sustainable leadership. Companies need to be sure they have the right spokesperson to transmit their practices with transparency and authenticity,” concludes Bonnett.

Hiring outside the box

Sustainable leadership skills can emerge in unlikely places. Thankfully, they are transferable across industries, and can prove highly valuable when crossing into a new sector. As the role demands a broad range of skills, CSOs typically come from diverse backgrounds including environmental management, research, business development, finance and legal.^{^[1]} If businesses want to increase their pool of expertise surrounding sustainability, they must be open to welcoming talent from other industries. Hiring cross-sector makes perfect sense as some industries are more advanced than others, as Buttle explains: “Traditionally, the manufacturing and oil & gas industries have been more aware of ESG implications, particularly around environmental impact, and some of the more service-minded industries and financial services could benefit from their lessons, as they look at their sustainability strategy.”

Smart recruiters are driving the ESG agenda from an internal perspective, enabling them to assess potential candidates, identify their motives and support companies through the ‘thought to action’ process. Some also move sustainability professionals between industries – something that’s now a blossoming trend and speaks volumes about a company’s willingness to embrace change.

“It’s very easy for candidates to identify if a company is serious about driving change within the organisation, which should not be ignored if they wish to attract and retain the right executive talent, with the right skillset and the right motives,” Buttle concludes.

KEY TAKEAWAYS:

CSOs ensure an organisation’s business practices are economically, environmentally and socially sustainable. They need unwavering belief, unflinching vision, a deep understanding of the business and great powers of persuasion to drive real change at board level.
Sustainable leaders can move from one industry to another, and this can be of great benefit for a company, especially if the candidate comes from an organisation or sector with a well-established sustainability agenda.
Greenwashing won’t wash with today’s purpose-driven employees and candidates, who will hold a company to task for making empty promises. They want concrete CSR actions that help them feel seen, heard and proud of the fruits of their labour.

Summary

Why attracting and retaining sustainability leadership makes a world of sense.

Looking to hire your next leader?

Get in touch with one of our consultants now to discuss your leadership talent requirements.

Find a consultant

Looking for your next leadership challenge?

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Looking to build a Sustainability function in your organisation? Download our free eBook now.

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Thank you for submitting the form

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WHY COMPANIES IN THE DIGITAL AGE NEED THE LEADERSHIP OF CHROs [8 Trends]

Daniel Whitehead — Tue, 05 Apr 2022 14:44:15 +0000

WHY COMPANIES IN THE DIGITAL AGE NEED THE LEADERSHIP OF CHROs [8 Trends] Daniel Whitehead

Harnessing interpersonal skills to bridge digital realities, the new Chief Human Resources Officer stands front and centre in a hybrid world.

One of the greatest opportunities for the Chief Human Resources Officer (CHRO) to shine has been in leading the post-pandemic transition to hybrid working. No longer seen as a background player, today’s CHRO has taken on a pivotal role in steering businesses towards success in a digital environment. The ability of CHROs to attract global talent and motivate employees in this new context can determine whether businesses thrive or flounder, highlighting the importance of the HR function to the overall health of any organisation.

Gone are the days when remote work was reserved for managers or directors, and only on occasion. Today, it is common for companies to let employees work remotely some or even all of the time, and many employees now expect this flexibility. In fact, an August 2021 report by PwC found that 41% of remote workers surveyed never want to go back to the office – up from 29% in January. According to McKinsey, barring work that must be performed on-site, most executives expect that employees will be at the office one to four days per week in the post-pandemic future.

In our Eight Executive Trends 2021, we predicted that hybrid working would be here to stay, putting the spotlight on the role of the CHRO. From talent acquisition to workforce engagement and corporate culture, the CHRO’s scope has been significantly broadened by the additional variables of a hybrid world. It is the HR leader who must navigate these changes by developing new processes and solutions, often in close collaboration with the rest of the C-suite.

KEY TAKEAWAYS

After a year and a half of facing major HR challenges and disruption, the CHRO has emerged as a key figure in guiding businesses towards stability in the hybrid future. Modern CHROs will need both excellent people skills and the willingness to adopt digital tools to build an inclusive culture that brings hybrid workforces together.

Today’s CHRO must keep the workforce engaged while addressing the new variables of hybrid working, including the return to the office, remote team leadership, mental health and wellbeing, and the prevention of location-based bias.
With access to an expanded global talent pool, innovative CHROs are reimagining talent acquisition and retention by focusing on the employer value proposition and investing in employee reskilling.
The new CHRO is a core member of the C-suite. Empathy and leadership skills are crucial to success, but so is fluency with technology and sharp business acumen.

Laying the building blocks of a hybrid workplace

Many businesses that switched to remote work at short notice are now facing the challenge of when and how to return to the office. Uncertainty has been a key issue for leadership teams and, consequently, for employees. Worse still, a lack of communication on this subject can be detrimental to worker wellbeing, contributing to anxiety and even tempting some to set their sights elsewhere.

In this respect, it is up to the CHRO to establish a clear path towards the hybrid future. To ease the transition, astute CHROs are encouraging rather than obligating employees to return to the office on a phased basis. Part of that involves creating incentives that draw workers back to the workplace. As Agnieszka Kulikowska, Senior Partner Poland & Baltics, observes, “The office has changed from being a place to work to becoming a place to interact with people.” In order to facilitate teamwork and collaboration, HR leaders need to examine how they can foster a safe, inclusive and flexible environment.

As some colleagues return to physical offices, it is vital that their remote peers do not feel excluded or unfairly treated. In an August 2021 survey by PwC, executives cited corporate culture as the biggest challenge to making hybrid working successful. The CHRO must take the helm in building a corporate culture that cultivates a sense of belonging no matter where employees are based. Raphael Asseo, Partner Switzerland, points out, “Establishing an understandable, liveable and inclusive culture is essential for employees to take joy and pride in their work and their organisation.”

One way to ensure that workers are treated fairly is to implement consistent policies regarding matters such as working time, performance evaluation and information security. Whether at the office or working from home, no employee should feel at a disadvantage based on their location. CHROs should be equally at ease with digital tools and social skills as both are essential to building reliable, impartial systems and an inclusive culture in a hybrid context.

The hybrid workplace has also pushed concerns over employee mental health and wellbeing to the forefront. Barriers between working hours, rest and holidays have been threatened by the shift to remote working, and preventing burnout should be a priority for HR departments. The CHRO needs excellent people skills in order to regularly take the pulse of the workforce and to transmit a caring style of management throughout the organisation. Soft skills are especially important for managers to engage remote teams, and HR leaders should encourage managers to take a more holistic goal-oriented approach to performance.

Casting a wider net in the global talent pool

The flexibility of hybrid working has made the market for talent much more dynamic. Jessica Whitehead, Senior Partner UK, explains, “Many professionals are making different decisions about their careers. There are plenty of opportunities, and it is a very candidate-led market, so talent acquisition is high on the agenda for many organisations.”

Many professionals are making different decisions about their careers. There are plenty of opportunities, and it is a very candidate-led market, so talent acquisition is high on the agenda for many organisations.

Jessica Whitehead, Senior Partner UK

Even though talent acquisition is a priority, most companies have struggled to fully adapt to this fast-moving environment. McKinsey reports that nearly two-thirds of organisations transferred in-person recruiting events and activities to remote settings during the pandemic, but only one in three have reimagined hiring from the ground up.

Successful HR leaders understand that adjusting to hybrid recruitment involves more than simply moving traditional processes online. Remote work has transformed the rules of recruitment, as Rodrigo Escudero, Director Peru, notes: “Nowadays, companies are competing for talent not only with other companies from the same country but with the entire market. Therefore, it is crucial that they build an attractive employee value proposition.”

With younger generations representing up to two-thirds of the workforce, a major challenge for organisations is both recruiting and retaining talent. Strategic CHROs know they must understand the full talent cycle, from attracting candidates to measuring retention. Since top candidates often take job offers out of desire, not necessity, the employer brand is even more critical. This is one reason why sustainability and corporate responsibility have become bigger priorities for many HR departments.

Nowadays, companies are competing for talent not only with other companies from the same country but with the entire market. Therefore, it is crucial that they build an attractive employee value proposition.

Rodrigo Escudero, Director Peru

To remain competitive, HR leaders must continue focusing on engaging and retaining talent. “The new biggest trend is working remotely from abroad, also known as the ‘workation’. Many companies are discussing this, and I believe that more companies will allow employees to work from abroad in the future.” Such flexibility can be especially attractive to globally mobile younger candidates. Meanwhile, CHROs would be wise to invest in relevant training opportunities for their workforce, which can help attract talent and improve retention.

Identifying the skills of a people-first leader

The modern CHRO will play a key role in leading organisations through the challenges of the hybrid future. A sense of empathy and effective communication skills are even more vital in a context where leaders are often conveying ideas and reaching agreements through digital platforms. At the same time, an appreciation of data and technology, along with overall business knowledge, are fundamental for CHROs to reimagine the employee experience in a way that benefits people and the organisation as a whole.

When searching for HR leaders, recruiters should look for evidence of soft as well as hard skills. The CHRO must be able to lead and build partnerships across the C-suite while also demonstrating warmth and receptiveness towards all levels of the workforce. Behavioural assessments and insightful referrals, including those from former direct reports as well as colleagues, can all help to shed light on a candidate’s leadership history and suitability for the role.

Above all, today’s CHRO should be motivated by a sense of purpose to drive the business forward by caring for its most important resource: human talent. The CHRO is no longer a side role or a crisis management figure within the executive leadership team, but a core member with far-reaching influence. Asseo shares a telling example: “I’m searching for a candidate for an organisation where the former CHRO was very much appreciated, so the bar is high. It’s great to see that the leader left on such good terms. From the first day until the last, the CHRO role should be a positive, rewarding journey.”

KEY TAKEAWAYS

Today’s CHRO must keep the workforce engaged while addressing the new variables of hybrid working, including the return to the office, remote team leadership, mental health and wellbeing, and the prevention of location-based bias.
With access to an expanded global talent pool, innovative CHROs are reimagining talent acquisition and retention by focusing on the employer value proposition and investing in employee reskilling.
The new CHRO is a core member of the C-suite. Empathy and leadership skills are crucial to success, but so is fluency with technology and sharp business acumen.

Looking to hire your next leader?

Get in touch with one of our consultants now to discuss your leadership talent requirements.

Find a consultant

Looking for your next leadership challenge?

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D&I is the New ID [8 Trends]

Daniel Whitehead — Tue, 15 Mar 2022 10:19:33 +0000

D&I is the New ID [8 Trends] Daniel Whitehead

More business leaders are realising that diversity and inclusion works best when it seeps into every pore of organisational culture.

Diversity and inclusion are old friends for forward-thinking organisations. Hiring candidates from a spectrum of backgrounds and mindsets injects new perspectives and capabilities into teams, and often significantly boosts creativity – and profits.

Sample this. If every country in the world moved rapidly towards bringing about greater gender parity in their workforce, as much as $12 trillion could be added to the global GDP by 2025, reports McKinsey Global Institute’s Women in the Workplace Report, an annual diversity and inclusion study. That is an 11% increase in the global GDP.

Addressing only the gender diversity aspect of D&I is expected to have a positive impact on revenues. Businesses stand to benefit even more when all aspects of D&I are given their due in the company’s hiring and employee welfare practices.

Businesses, too, mobilised by the younger generation’s passion, have paid greater attention to their values of equality and fairness. A genuine leaning-in towards others’ lived experiences has brought the spotlight onto businesses’ diversity hiring practices. Hiring for diversity ‒ irrespective of ethnic group, self-perceived gender, sexual orientation, nationality, disabilities and religion, among others ‒ has become a hot topic. But D&I goes much further than the post-interview handshake…

KEY TAKEAWAYS

Diversity and inclusion must be built into the DNA of today’s companies if they want to attract and retain the best talent. Businesses will benefit from bringing openness and flexibility to their hiring approach, while the equality-driven leaders of tomorrow will thrive on belonging and feeling valued.

Recruiters should spread the net far and wide, going above and beyond their go-to sources. It is a matter of chance, and one can find surprises in candidates from different industries or experience levels who fit the bill.
Candidates seek acceptance, value and respect at their place of work. At the same time, a willingness to learn from peers who bring different experiences can improve the quality of work.
Recruiters should prime clients to go beyond age, gender, race and academic credentials and focus on the value of onboarding a candidate who brings a different cultural perspective to the business.

Going beyond the visible

As the conversations around equity and wellbeing gain momentum, forward-facing leaders understand that diversity and inclusion mean a serious mindset and culture shift towards making employees feel included, heard and valued. Companies need to invest time and attention into understanding their employees’ demographic base and educating all levels of leadership and workforce on what inclusion truly means. This includes providing empathy training and learning how to catch (and correct) bias in everyday work and life.

Allyship Training is a good example of a workshop that meets these needs. Implementing D&I includes first understanding the true spirit of inclusion, and then applying it by listening to employees, and adjusting the tone of the communication, the approach and the company culture. Fostering a sense of belonging and pride in being unique leads to diversity and inclusion being mutually celebrated. Companies should also put in place redressal mechanisms with legal and emotional support.

Agnieszka Kulikowska, Senior Partner Poland and leading the D&I practice for Europe, explains that a top-down and bottom-up approach can be effective in empowering people to speak up, engaging them and putting their best ideas into action: “The example should come from the top, with sponsors appointed to D&I pillar groups – like women, parents, LGBT, people with disabilities – to let people know the company is treating these professionals with adequate seriousness. Employees can then join the groups and committees they identify with and propose initiatives that will drive real change in processes and the perception of minorities.”

The example should come from the top, with sponsors appointed to D&I pillar groups – like women, parents, LGBT, people with disabilities – to let people know the company is treating these professionals with adequate seriousness. Employees can then join the groups and committees they identify with and propose initiatives that will drive real change in processes and the perception of minorities.

Agnieszka Kulikowska, Senior Partner

Diversity as a term primarily includes age, race, ethnicity, gender, disability and sexuality. Businesses need to understand it as more than just a fashionable social construct so that they can create a deep culture of diversity, an internalised way of doing business.

“Unfortunately for organisations that want a quick fix on diversity hires/quotas, they focus on ‘visible’ diversity such as gender and race. Diversity is so much more than the physical, but with legislation such as the gender pay gap, hiring or promoting more females ends up being a key focus to looking diverse. Discrimination can affect all groups of people, and the whole point of having a D&I agenda is to create an inclusive environment where every individual feels part of the culture,” says Catherine Osaigbovo, Partner HR and D&I UK.

It’s important to understand the definitions of both diversity and inclusion – and truly believe in them – before building a D&I programme or overhauling a company culture.

More than a 'nice to have'

While diversity is the presence of differences at the workplace, inclusion is the behaviour that embraces that diversity.

Early recruitment trends considered D&I goals a ‘nice to have’ and a ‘to be seen to have’. As businesses have evolved in their hiring practices, D&I has moved away from being just a quota-driven campaign to a deeper mindset about actively celebrating and making decisions based on different perspectives.

“An abundance of points of view in the same company gives the company different approaches to one same problem. It provides a better perspective for business,” says Natalia De Sanctis, Principal Argentina.

Various studies from recent years have shown a positive correlation between a diverse workforce and improved company profits. This study by the Wall Street Journal finds that diverse and inclusive work cultures offer a more competitive edge in the market. A further study by Boston Consulting Group found that companies with greater diversity experienced 19% higher innovation revenues.

Inclusion can also boost talent retention. Millennials and the generations to come have high D&I expectations from companies. A 2020 Diversity Hiring Survey by Glassdoor revealed that diversity was an important factor for 76% of jobseekers and employees. They evaluated a company’s diversity and inclusion practices during the hiring process. The onus is on companies to actively practise and communicate their diversity mindset.

“Companies must make sure that the programmes and initiatives that are being rolled out are actually making a difference, and driving change across the business. More engagement means more productivity. D&I is often an ‘HR subject’, but there is a need for it to be more aligned to the business objectives,” says Sarah Kirk, Global D&I Director.

Companies must make sure that the programmes and initiatives that are being rolled out are actually making a difference, and driving change across the business. More engagement means more productivity. D&I is often an ‘HR subject’, but there is a need for it to be more aligned to the business objectives.

Sarah Kirk, Global D&I Director PageGroup

Going on to explain how PageGroup measures inclusion, Kirk talks about the value of the insights gained from PageGroup’s proprietary surveys, which inform the data-driven consulting offered to clients. To stay abreast of D&I trends, PageGroup runs a D&I ambassadors’ network with a partner in every European country. The ambassadors meet regularly to discuss issues related to improving diversity and inclusion in business.

“Ultimately, it’s also about how culture can impact, support, retain and attract diverse talent,” Kirk adds.

Hiring for inclusion

The first step to achieving inclusion is to establish clear diversity hiring goals and the mechanisms to track and meet them. “Data is essential,” explains Osaigbovo. “We have responses from 76% of our employees globally. That gives us the insight to make data-driven decisions. It gives us a responsibility to make changes based on their answers to retain credibility and to build trust.”

The hiring process starts with an open discussion between the recruiter and the client. “No matter what the role is, the focus of the discussion, when hiring talent, shouldn’t only be about gender, age, nationality, or other differences. It is advisable that diverse candidates are included in every professional search, even if the client doesn’t specifically request it,” says De Sanctis.

Bringing greater diversity to the workspace starts with questioning inherent biases, and how they limit our work experience. Companies will need to set the bar higher – and broader – for their hiring expectations. Here, flexibility and keeping an open mind can go a long way.

Sometimes, all the way to the CEO.

KEY TAKEAWAYS

Recruiters should spread the net far and wide, going above and beyond their go-to sources. It is a matter of chance, and one can find surprises in candidates from different industries or experience levels who fit the bill.
Candidates seek acceptance, value and respect at their place of work. At the same time, a willingness to learn from peers who bring different experiences can improve the quality of work.
Recruiters should prime clients to go beyond age, gender, race and academic credentials and focus on the value of onboarding a candidate who brings a different cultural perspective to the business.

Summary

More business leaders are realising that diversity and inclusion works best when it seeps into every pore of organisational culture.

Looking to hire your next leader?

Get in touch with one of our consultants now to discuss your leadership talent requirements.

Find a consultant

Looking for your next leadership challenge?

Explore our open opportunities right now.

Search jobs

Looking to build a Sustainability function in your organisation? Download our free eBook now.

Are you looking to hire? Request a call back from our team of experts now.

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Why CFOs Should Be Movers and Shakers of ESG [8 Trends]

Daniel Whitehead — Mon, 21 Feb 2022 10:56:31 +0000

Why CFOs Should Be Movers and Shakers of ESG [8 Trends] Daniel Whitehead

Experts at measuring, reporting and providing transparency, Chief Financial Officers are perfectly placed to drive organisations to reach their environmental, social and corporate governance targets.

The role of the Chief Financial Officer has evolved considerably in the past two years, with many finance leaders seeing their responsibilities expanded and transformed. Throughout the challenges of lockdowns, supply chain disruptions and global uncertainty, the CFO has consistently been called to the helm as an adaptable, resilient leader and provider of stability in ever-changing circumstances.

However, the best finance leaders have long possessed a broad skillset that extends far beyond balance sheet management. CFOs are regularly called upon to provide strategic recommendations to the CEO and work closely with executive leaders across all departments, making influencing skills and the ability to collaborate cross-functionally essential to the role. In today’s hybrid world, modern CFOs are also expected to be well versed in technical matters such as cybersecurity and the digitalisation and automation of finance processes. According to Senior Partner Daniel Yates, “When organisations are looking for a new CFO, they seek finance professionals who are capable of dealing with a range of new strategic priorities, including new regulations, optimising large volumes of data, market volatility and technology adoption.”

One growing trend that is particularly shaping the CFO role is the rise of environmental, social and corporate governance (ESG) as a key business priority. While in the past, efforts to support ESG have typically been perceived as having little bottom-line benefit, in recent years that notion has been discredited. Today, business leaders recognise that ESG impacts financial resilience and performance, placing it squarely in the domain of the CFO.

KEY TAKEAWAYS:

The Chief Financial Officer’s role has developed significantly in the past two years, becoming even more closely knit with different functions such as IT and HR. This transversal nature, combined with the finance department’s expertise in measuring and reporting, place the CFO in a prime position to drive ESG efforts across the business. More than simply a reflection of a global trend, striving to reach ESG targets is key to building financial resilience through the creation of sustainable long-term value.

Many of the skills needed to drive ESG outcomes, such as risk management and cost optimisation, already exist in finance teams. In addition, committing to ESG goals has been shown to improve business performance, making this area a natural fit for the CFO.

With a variety of ESG frameworks to choose from, CFOs must decide which metrics to measure and how. Establishing a dedicated task force can help financial leaders identify tailored actions for companies to make the biggest positive impact, whether through using energy and resources more efficiently, building social credibility or ensuring transparency in governance.

With ESG a growing priority, the CFO will need to work closely with fellow leaders to foster cross-team collaboration. The best candidates should demonstrate an ability to translate data into effective action plans and persuade others to come on board.

Finance and ESG: the perfect partnership

A survey by Accenture indicates that 68% of CFOs globally take responsibility for their organisation’s ESG performance. There is good reason for this match: “Many of the skillsets that are and will be most important in driving ESG outcomes can already be found in finance teams, such as monitoring and reporting, risk management and cost optimisation,” says Yates. In other words, when it comes to translating metrics and measurements into real change, no one is better equipped for the job than the CFO. But why should organisations focus on ESG at all?

Many of the skillsets that are and will be most important in driving ESG outcomes can already be found in finance teams, such as monitoring and reporting, risk management and cost optimisation.

Daniel Yates, Senior Partner and Global Head of Financial Services Practice

First of all, implementing an ESG strategy is critical to building a strong, durable company. The numbers show that sustainability is good for business: the Business & Sustainable Development Commission reported that organisations committing to sustainability will have generated at least $12 trillion in savings and new revenues by 2030 in the areas of energy, cities, food and health. Companies that actively support ESG initiatives are also boosting their potential to attract investors; according to the International Institute for Sustainable Development, sustainable investing in developed countries rose 68% from 2014 to 2019.

Furthermore, the world has witnessed a global sea change in consumer values. Issues of corporate responsibility and sustainability have been put under the spotlight, with many customers pledging loyalty to companies with impressive ESG credentials. A strong ESG track record can also contribute to building an attractive employee value proposition, helping organisations to attract, engage and retain top talent.

Developing an ESG strategy to deliver long-term value

With the ability to steer resource allocation and accountability, finance leaders are well placed to spearhead the process of setting ESG goals and measuring progress. Shaun Smith, Senior Independent Non-Executive Director of Epwin Group Plc, observes, “The CFO has long been responsible for understanding the regulatory environment, collating and reporting management and financial information, and allocating business resources. As a leader who grasps the full responsibility of capturing ESG information, working with internal and external stakeholders to set and monitor appropriate targets, the CFO is in a key position to help set and drive an organisation’s ESG strategy aimed at delivering sustainable long-term shareholder value.”

Nonetheless, defining an ESG strategy is far from straightforward. A variety of different reporting frameworks exist, ranging from basic mandatory reporting imposed by certain countries or regions to wide-ranging frameworks such as the Global Reporting Initiative (GRI) or the Sustainability Accounting Standards Board (SASB), which maps 77 industry-specific metrics. From greenhouse gas emissions to ethics and safety, the CFO must determine which measurements are the most useful for evaluating and reporting their company’s ESG performance.

Finance leaders should educate themselves on the ESG landscape while homing in on the specific areas in which their organisation can make the most impact. To better analyse the mechanics of the business, CFOs can establish task forces or working groups dedicated to tracking ESG repercussions and the effects of new initiatives.

Ultimately, ESG metrics are inextricably linked to financial metrics. A push towards more responsible practices also drives the business towards long-term stability, efficiency and profitability. By creating sustainable internal processes and promoting transparent reporting, the modern CFO paves the way for a resilient future for employees, stakeholders and shareholders alike.

Driving change across the board

When hiring a new CFO, a key consideration should be candidates’ ability to lead ESG efforts and drive success. Already, in many cases, the de facto head of ESG monitoring and reporting, the CFO undoubtedly relies on skills such as accounting, data analysis and risk management. However, equally important is the ability to translate numbers into language. Finance leaders require emotional intelligence and excellent communication skills in order to conceptualise and defend their ESG strategy and gain cross-departmental support through data-based arguments.

The modern CFO can be expected to work closely with the CEO in the planning and execution of ESG initiatives. Recruiters should therefore prioritise candidates with a history of leadership and effective collaboration at the C-suite level. In an age of increased transparency, it is all the more critical to find candidates with a track record of integrity and trustworthiness backed up by previous references. The best candidates should also demonstrate knowledge of ESG trends and the initiative to transform such trends into action.

While not all CFOs currently have ESG within their scope, ESG credentials and experience could soon become an essential part of the necessary CFO skillset. A willingness to engage with this core business area is key. Yates confirms, “As the importance of ESG grows, finance professionals will play an ever-greater role in driving awareness of ESG data, measuring impacts and reporting to key stakeholders. CFOs with proven experience of integrating ESG into finance team priorities will be in huge demand in the near future.”

KEY TAKEAWAYS:

Many of the skills needed to drive ESG outcomes, such as risk management and cost optimisation, already exist in finance teams. In addition, committing to ESG goals has been shown to improve business performance, making this area a natural fit for the CFO.

Summary

Experts at measuring, reporting and providing transparency, Chief Financial Officers are perfectly placed to drive organisations to reach their environmental, social and corporate governance targets.

Looking to hire your next leader?

Get in touch with one of our consultants now to discuss your leadership talent requirements.

Find a consultant

Looking for your next leadership challenge?

Explore our open opportunities right now.

Search jobs

Looking to build a Sustainability function in your organisation? Download our free eBook now.

Are you looking to hire? Request a call back from our team of experts now.

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Going into an ESG discussion? Here’s what you need to know about ESG now

jacelynnpang — Wed, 03 Nov 2021 06:09:36 +0000

Going into an ESG discussion? Here’s what you need to know about ESG now jacelynnpang

One of the buzzwords that business professionals would frequently encounter for the past few years is “ESG” (Environmental, Social and Corporate Governance). While a lot of us may have some good general understanding about ESG, we have taken the opportunity to discuss with a few “ESG gurus” from respective specialisations to walk us through their views on this hot topic.

Interview Panellists:

Donald Chan: Managing Director of APAC, CDP (cdp.net). Formerly an investment banker with strong investment and portfolio management in Temasek including the set-up of CIX (Climate Impact X) in Singapore.

Caroline Wong: Seasoned communication and CSR professional who is currently with The Lane Crawford Joyce Group. Previously helped Starbucks build Global Responsibilities function across APAC region.

Sam Crispin: Chartered Surveyor with rich sustainable development advisory, Masters Degree in Corporate Environmental Governance and ESG reporting coupled with decades of consulting experience in China market in companies like PwC, Cushman & Wakefield and Savills with focus on urbanisation, city development and real estate strategy consulting.

This Q&A session facilitated by Gabriel Nam (Partner, Page Executive) - with core executive search focus on ESG area across Asia.

Q: While terminology like “green” or “ESG” has been brought up more than ever in recent years, there has been increasing concern on “greenwashing”. What is your view on this phenomenon?  

Donald Chan: Greenwashing has increased as companies and individuals attempt to appear more “green”. It can range from misleading or deceiving customers that a product is environmentally friendly, to green-scamming where companies actively promote the benefits of activities that damage the environment.

This has been exacerbated with the advent of social media and fake news. It also impacts companies that are genuinely “green” by eroding public trust.

As customers, we should be careful and exercise more judgement. For example, what will be the rationale of a statement that a soup is environmentally friendly? Does the statement have a source? If there is a source, is it reputable and independent from the soap manufacturer? Through this process of Q&A, customers can avoid being victims of greenwashing and instead favour companies that genuinely make a positive environmental impact.

Caroline Wong: The landscape where the term “greenwashing” was coined in the 1980s is vastly different, and over the last decade, greenwashing has become a bit complex. It’s become confusing because there is little transparency behind what goes on in certain industries, such as the fashion industry.

If a brand is offering a collection that is sustainable, are they greenwashing? I believe consumers can play an important role in whether to engage with companies that are “greenwashing” or are truly sustainable by looking beyond the hype, having the time to review a company’s sustainability agenda to identify greenwashing faster in the future. On the flip side, the positive side of greenwashing is that brands and companies are putting these topics as a priority to address.

Q: As one of the pioneers involved in ESG to different degrees (perhaps even before they are called “ESG”), what has changed in the landscape of ESG over the past 20 years?

Caroline Wong: I had the opportunity to work in CSR in the early 2000s with Starbucks that embedded sustainability early on throughout their operation and the benefits of seeing how it enhanced its brand and reputation, giving it a license to operate in new markets.

At that time, there was very little in terms of having any kind of unified market standard to record and recognise how well we were doing as a coffee retailer within the industry. To continue to lead, Starbucks had created their pioneering coffee sourcing and ethical sourcing standards.

The launch of GRI, IIRC, and SASB has helped advance reporting and relevance for its investors. Whilst Europe and the US have always been ahead, it has taken a long time in Asia, especially for the less developing countries. Historically, ESG was seen as niche. In recent years, industries have been evolving their views towards the importance of ESG. It is still too early to say that businesses are maturing in their sustainability agenda. With that said, now, there is definitively a stronger effort in injecting ESG principles into core business priorities, and we will see how companies respond to the consumer’s demands for cleaner, sustainable products that do not harm the planet. 

Sam Crispin: I think governments have generally failed to heed the warnings in an effective and meaningful manner. ESG reporting is a solution for business. With stock exchange rules increasingly mandating ESG reporting before it is required by legislation, we can see the lead being taken by companies. This means the financial risk that industries attach to climate change are reported in a transparent way which can then be priced into valuations by shareholders. That may include reputational risk leading to decreasing revenues, as well as physical damage and increased costs. While governments get together and talk about what to do, often with mixed results, business is getting on with implementation.

Q: While there is a rising demand for sustainable investing from investors, certain investment professionals often express the challenge of ESG integration into the investment process and the consideration of financial materiality. What is your take on that?

Donald Chan: Our measures of economic performance do not fit well with environmental impact. Let’s take an example of two people who live in the same area and work in the same office - with one difference: Jane walks to and from work, and Simon drives a car.

According to economic calculation, Jane has virtually no value. Meanwhile, Simon will purchase a car, top-up fuel, send the car for servicing, etc. Every activity is measured and tracked in our economic calculation.

Yet Jane produces fewer carbon emissions and is likely fitter, and lives a healthier and longer life than Simon.

Hence, our first step is to recognise that we need to measure and track our carbon emissions and environmental matters. Secondly, where possible, we can incorporate various temperature scenarios into the investment analysis and decision-making. Lastly, we can include additional compliance costs from current and future environmental regulations into our forecasts and financial models.

Q: Based on your experience, what are the effective strategies for raising awareness on ESG within the organisation in general?

Caroline Wong: Rising awareness within the organisation needs to be matched by an ESG agenda which is a commitment from the top. Companies need to translate ESG aspirations into measurements and report to their stakeholders including employees on its results. The awareness of ESG within the organisation will be a greater impetus from employees to ask about ESG issues and opportunities.

Q: From the urban’s infrastructure perspective, how will you rate Asia’s overall development with sustainability at a macro level?

Sam Crispin: Taking China as an example, after spending over 25 years working in urbanisation and city development, the amount of development related to ESG aspects is encouraging and provides a model for other rapidly urbanising countries to learn from and adapt to their own circumstances. Elements of energy efficiency and smart transport networks have also been overlaid on the hard infrastructure, and we should all be very encouraged by that.

Q: What is your prediction about hiring trends in this ESG spectrum in the foreseeable future?

Donald Chan: ESG is an exciting and fast-growing area. We will see increased requirements for companies on ESG as countries introduce mandatory disclosures. This will create new career opportunities from measuring, disclosing and assessing performance to developing actions and projects.

I also expect technology to play an important role, particularly in Asia, in meeting environmental standards. This will create new jobs as engineering skill sets merge with environmental science to develop the next series of technologies that accelerate the transition to low carbon.

Caroline Wong: Overall, Asia still has a talent shortage in the ESG space compared with Australia, Europe, and the US. At the same time, companies that are hiring need to ensure they are committed to ESG and not paying lip service or overpromising their ESG commitments to candidates. As the “E” and “G” principles become more quantifiable, the opportunity and excitement I see is the “S” piece, and having the talent to lead this aspect is emerging.

Sam Crispin: The demand for ESG talents (that are lacking in Asia currently) is going to be immense and largely driven by mandatory ESG reporting. We will have sufficient talent in areas like energy and engineering solutions. But the need is for senior executives, with a helicopter view on how ESG elements work together, to relate back to business strategy, management and decision making. These are the key influencers at the board level that businesses need to adapt, survive and prosper in, what will be, a very different commercial environment in 20 years. Without economic sustainability, there is no environmental sustainability and vice versa, there is a very fine line to balance the two. With so much of the ‘consuming world’ emissions embedded in the ‘manufacturing world’, the Asian end of the supply chain that includes energy, material extraction, processing, manufacturing and packaging, is critical and will be the focus in Asia.

Conclusion

As ESG evolves with time, there could be differences in views on its standard and how it should be implemented appropriately. However, as one of the articles by JP Morgan Asset Management has rightly pointed out, in view of uncertainty brought about by situations such as COVID-19, ESG matters more than ever. Hence if you are keen to learn more or share your opinions on this topic, reach out to Gabriel at any time.

Summary

We have taken the opportunity to discuss with a few “ESG gurus” from respective specialisations to walk us through their views on this hot topic.

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C-suite Leading The Change [8 Trends]

Anonymous — Tue, 22 Jun 2021 11:33:24 +0000

C-suite Leading The Change [8 Trends] Anonymous (not verified)

Switching industries as a senior leader

Pandemic life has forced many executives to work away from the office and has also led several to reconsider their career paths. Various industries have been impacted by the lockdowns and restrictions, some more than others. Once-vibrant sectors like travel and tourism alongside energy and construction have faced cuts in revenue, projects, office space and budgets.

The interesting trend, however, has been in the less-affected industries. Executives that can hold steadfast to their position are doing so, but they have also started to weigh their options.

The idea of switching industries was an unlikely choice for many executives before, but the changed circumstances now makes the thought more reasonable. Executives are being more flexible about possibilities. Dan Plourde, Partner, North America, explains, “Many executives do not want to wait for the next crisis to put their roles in jeopardy, so the jump to a somewhat related industry is seen as a strategic career move.”

How can senior professionals navigate a transition and how can they maximise success when looking to move into a different industry?

Many executives do not want to wait for the next crisis to put their roles in jeopardy, so the jump to a somewhat related industry is seen as a strategic career move.

-Dan Plourde, Partner, United States

KEY TAKEAWAYS

Companies are embracing out-of-industry professionals at senior posts as they stand to benefit from such innovative approaches. Relying on their past successes, new-to- industry C-suite level executives have the potential to infuse bold ideas into company culture. Executive search experts can facilitate hiring success by guiding leaders to the best fit for them to shine.

Companies must keep an open mind to hiring across industries for executives, with core common skills like project management, people management and employee engagement.
As executive search experts, we mentor and partner with leaders taking on the challenge of disrupting industry-related hiring practices.
Senior leaders must go through a thorough process of introspection to find their core values, their value-add to the business, their leadership style and their culture.
C-suite executives seeking an out-of-industry move will be more successful sooner if they have kept their wider network engaged and active over the years.

PEOPLE MANAGERS HAVE A HEAD START

Often, companies look to hire the same profile that is departing – after all, following a well-trodden path is a sensible business decision. However, there is often the need for leaders to come to the table with diverse skill sets, or indeed, work history. If a business needs to change its modus operandi, it should start by changing the profile of the leaders it seeks to onboard.

All companies benefit from two basic but hard-to-master skills that represent both sides of the management coin: leadership soft skills and hard business fundamentals. Hiring out-of-industry executives at high leadership posts can really help here as they bring a wealth of experience and freshness to people management within the company culture, and also an outsider’s view on the objectives and processes in the business.

There are advantages to bringing in an outsider. An outsider brings a different mindset and adds to the diversity of thought within the company, which is a great asset at the C-suite level.

-Gustavo Ribeiro, Principal, United States

“There are advantages to bringing in an outsider. An outsider brings a different mindset and adds to the diversity of thought within the company, which is a great asset at the C-suite level,” says Gustavo Ribeiro, Principal North America. Not just that, at the senior executive level, many skills are transferable between industries, continues Ribeiro, citing the example of the oil & gas industry. “C-suite level professionals will easily be able to transfer P&L, project management, finance skills, people management and employee engagement expertise, which greatly helps the sell-in process.”

Hiring out-of-industry C-suite executives could also help to usher in greater diversity of thought by considering competent and skilled leaders of all profiles for senior roles. Innovative hiring like this can help break the mould of only rewarding company loyalists who have made their way up the ranks, and introduce a fresh approach to problem solving.

SELF-KNOWLEDGE IS GOLDEN

For C-suite career transitions to be successful, senior executives must introspect deeply about their career path to fully understand where they stand. Now, they are in a position to find a company that fully aligns with who they are, allowing them to create the impact that they always wanted to make in the company, and also on the part of the world where the company has an impact.

Plourde explains how it is done. “Put yourself in a situation where you have to go through a period of self-knowledge. This can be frustrating to do in one’s career. But once you eliminate market from the sell proposition, ask what this person’s true value is to the next business. Know your leadership style and the type of culture you thrive in. Look at your track record and ask, what were the drivers of my past successes?”

Put yourself in a situation where you have to go through a period of self-knowledge. This can be frustrating to do in one’s career. But once you eliminate market from the sell proposition, ask what this person’s true value is to the next business. Know your leadership style and the type of culture you thrive in. Look at your track record and ask, what were the drivers of my past successes?

-Dan Plourde, Partner, United States

Ribeiro adds, “It’s important that the leader knows their strengths and weaknesses in terms of knowledge, the skill set they possess, how their success came about and what drives them, which allows them to better articulate the transferable skills that can add value to the new industry they are joining.”

PATIENCE AND PLANNING GO A LONG WAY

The keys to success in such a challenging transition in one’s career remain patience and persistent effort. Patrice Kombot-Naguemon, Partner Africa, shares, “When switching industries, it’s important to know that it means starting over to a degree; and the more senior you are, the more difficult it’s going to be. Planning is key, so look for gateways or potential divisions in the leadership teams of other companies to get closer to your goal and to acquire the information and knowledge you need to inform your decision.”

A long wait and search can cause senior leaders to feel discouraged, especially when time is running out, but an eye on the smaller, daily tasks can help them along. As Ribeiro explains, “This change can take a long time, so I tell executives to practise patience during the transition. Build and expand your network, understand your value, pull out from your past the management techniques and styles you used to build your previous companies: focus on these activities to help the process along.”

COUNTING ON THE COMMONALITIES

It’s important to remember that with challenges, there is always possibility. Take, for example, the fossil fuel and renewable energy industries. Nearly 90,000 jobs were cut globally in the fossil fuel industry in March and April 2020 alone, reports Bloomberg. Renewable energy companies, too, cut as many jobs during the lockdown period when projects were put on hold. But the clean power industry is bouncing back sooner, re-hiring as the engines start whirring again. The oil companies, however, continue to suffer their worst-ever demand.

The key to accurately moving a leader between industries is benchmarking skills and experiences against job requirements, and to vet against company culture and personality. Leaders coming in from an external industry, with strong experience working for major players, bring with them best practices and methodologies, and any company will buy into that. That can be a great asset to more junior or smaller companies in the space.

-Patrice Kombot-Naguemon, Partner, Africa

Along with bringing back furloughed clean power workers, the renewable energy industry is increasingly searching for senior professionals from the oil & gas sector, where much of the background know-how is similar, including geology, engineering, finance, asset management, land acquisition and energy contractual work.

The encouraging news for C-suite executives is that demand for their roles is high and is expected to remain high, as the world navigates the future. Professional search engagement typically soars during times of crisis. While this demand initially stabilised by Q4 2020, it will still remain on the higher side throughout 2021 and beyond. How can recruiters help C-suite executives transition industries in this environment?

Kombot-Naguemon explains, “The key to accurately moving a leader between industries is benchmarking skills and experiences against job requirements, and to vet against company culture and personality. Leaders coming in from an external industry, with strong experience working for major players, bring with them best practices and methodologies, and any company will buy into that. That can be a great asset to more junior or smaller companies in the space.”

That said, the person must rely on past successes and tap into their network. Kombot-Naguemon adds, “Though it can be challenging, these transfers do happen, but people need to be opportunistic and leverage all of their skills and their past – and lean in on networking.” The process of introspection that is needed for a senior leader to change industries can be challenging as diving into past successes and styles of leadership could seem daunting. But, the rewards on offer, such as defining new business practices, or using hard-won leadership skills to advance an organisation’s people, can be career-defining and well worth the effort.

KEY TAKEAWAYS

Companies must keep an open mind to hiring across industries for executives, with core common skills like project management, people management and employee engagement.
As executive search experts, we mentor and partner with leaders taking on the challenge of disrupting industry-related hiring practices.
Senior leaders must go through a thorough process of introspection to find their core values, their value-add to the business, their leadership style and their culture.
C-suite executives seeking an out-of-industry move will be more successful sooner if they have kept their wider network engaged and active over the years.

Contact the Consultants Quoted in this Article

Patrice Kombot-Naguemon
Partner
Africa

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Meet the Chief Growth Officer [8 Trends]

Anonymous — Tue, 01 Jun 2021 03:51:24 +0000

Meet the Chief Growth Officer [8 Trends] Anonymous (not verified)

The emerging role that takes a holistic view of long-term growth

The role of Chief Growth Officer (CGO) is disrupting the way companies approach their brand’s vision and apply customer centricity across departments. After many tech start-ups gained instant successes, thanks to the profile, this data- and tech-focused C-suite role is poised to challenge the supremacy of the CMO position in FMCG companies – and other industries, too.

Executive search experts will have to train their search for CGO professionals on a breadth of wide-ranging experience and skills needed for long-term growth.

As businesses aim for continued growth in a volatile economic climate, they are finding value in appointing a Chief Growth Officer to persist with their efforts. This emerging C-suite role is an expansive version, a 2.0 if you like, of the CMO, in some cases replacing the chief marketer.

Focused on growing the business, the CGO blurs the traditional separation of sales, marketing and IT functions in a company, keeping a holistic view of these departments while strategising for the future. The CGO has the customer-centric focus that breaks departmental silos and aligns teams to work towards a common future. The CGO’s direct line to the CEO and the rest of the C-suite provides easy, high-level cross-department insights with an eye on growth.

The need for such a role has come about as businesses are finding it difficult to sustain growth in highly competitive markets merely on incremental expansion. The CGO is tasked with the job of keeping a company’s customer-centric strategy and vision front and centre, improving competitiveness by making clients happy.

What should you look for in the profile of this holistic, cross-functional leader?

KEY TAKEAWAYS

The hybrid nature of the CGO’s position presents several challenges to executive recruiters in leadership searches. Since the role is understood as an evolution of the CMO’s position, it could seem as though a CMO with a strong digital focus could fit the bill. But this may not always work best. Executive search consultants will have to use innovative hiring approaches, searching within and outside the laundry list of requirements, to meet a company’s need for a growth officer.

Companies are no longer looking for the traditional CMO role but for someone that can work across departments and who is more digital-minded.
The traditional CMO needs to upskill themselves to not be replaced by the CGO in the near future.
Companies that work in potentially fast-growing markets can especially benefit from introducing the CGO role to their C-suite.
Companies searching for a good CGO need to look for data-focused leaders with cross-function and digital experience.
With a CGO in place, CEOs have reduced responsibilities when it comes to external image management, freeing them to become the true face of the company.

FASHION INDUSTRY GOES OMNICHANNEL

CGOs are tech- and data-driven, making decisions based on hard facts through which they understand their customers. They are digital disruptors. A multi-country survey of 700 senior marketing executives in 2019 by Singular, titled ‘Chief Growth Officer 2019: The State of the CGO’, found that 65% of CGO-led companies are more likely to be investing in new marketing tech, and 48% are more likely to be building AI and machine learning driven tools for marketing.

Their digital and tech focus earns CGOs the title of Chief Digital Officer in some companies.

Several big names in the fashion industry have recently taken on board a CGO. Fashion’s departure from traditional retail and its positive strides towards a multichannel approach have made a tech-focused growth officer’s role significant. The increase in recruitment for this newfound C-suite role has ignited the debate about the real value of such a role, and indeed, which industries it would impact positively.

It’s quite a familiar role in FMCG, where you would oversee marketing, sales, business development and even product development. But in fashion it’s a newer role. I think it’s partially because we are moving away from the traditional retail structure. Now, you are on all channels. The question is how you can get growth out of all those channels.

-Nicola Wensley, Partner, UK

FMCG companies like Kellogg’s and Kraft Heinz have been investing in CGOs to either replace the CMO, or as an expanded C-suite role. Nicola Wensley, Partner UK, explains, “It’s quite a familiar role in FMCG, where you would oversee marketing, sales, business development and even product development. But in fashion it’s a newer role. I think it’s partially because we are moving away from the traditional retail structure. Now, you are on all channels. The question is how you can get growth out of all those channels.”

A HYBRID ROLE

The growth officer’s role has emerged as an evolution of the CMO’s position in response to the huge demand for digital transformation and customer centricity in the business environment. The blurring of lines between the two roles, therefore, is in the areas of customer experience and marketing through a strong digital lens. “We have seen the evolution of the chief marketing position, where traditional marketing started to combine with digital, and became highly analytically driven,” explains Steve Parkes, Global Head of the Consumer & Retail Practice.

The CGO uses data to understand customers and create a data-backed marketing strategy “I think that the role is almost a hybrid of a chief customer officer and a CMO,” says Wensley. The CGO must be focused on dismantling departmental silos with the aim of creating synergy between a company’s various functions to optimise resources.

The challenge is to convince the company that driving business on instinct is no longer the way forward. The new question that arises in the executive search market is who becomes this new Chief Growth Officer? Is it the digital head or is it the traditional marketing head? That hasn’t been decided yet, but everyone needs to be ready to evolve and think more analytically, and more based on numbers and data.

-Steve Parkes, Global Head of the Consumer & Retail Practice

The CGO fulfills the CEO’s growth priority for the company. In a CMO Council and Deloitte study, most CMOs who took over the role of CGO said that their strategies were already in alignment with their CEO’s vision for growth. Also, 53% of CEOs cited growth as the top business priority, even over profitability. Long-term strategy and sustained growth are increasingly seen as important to successfully run a business today.

With the CGO’s role at the intersection of marketing, customer experience, digital transformation and data-led insights, executive search consultants, C-suite and potential growth officers alike need to prepare for a shift in thinking. As Parkes says, “The challenge is to convince the company that driving business on instinct is no longer the way forward. The new question that arises in the executive search market is who becomes this new Chief Growth Officer? Is it the digital head or is it the traditional marketing head? That hasn’t been decided yet, but everyone needs to be ready to evolve and think more analytically, and more based on numbers and data.”

HIRING FOR GROWTH

Although the CGO’s role is nuanced with a bouquet of skill sets to enhance business growth, including a digital lean-in, marketing prowess and customer insights, the CGO is a leader who is outwardly focused, managing the company’s reputation with customers and all external parties. This impacts the CEO, who previously fully controlled external reputation for the company. The CEO is freed from certain responsibilities of ‘reputation management’ to focus on expanding customer centricity, allowing them to drive high-level engagement and to become the ‘face’ of the company.

In searching for and recruiting the future CGOs, executive search experts will seek out leaders who are passionate about understanding customers. Wensley explains, “Customers are quite brandagnostic at the moment. They are searching for the best deal. Knowing how to acquire those customers and drive them to channels is very important. It’s all about the customer acquisition, particularly in a global market where customers are global, globally, as well.”

KEY TAKEAWAYS

Companies are no longer looking for the traditional CMO role but for someone that can work across departments and who is more digital-minded.
The traditional CMO needs to upskill themselves to not be replaced by the CGO in the near future.
Companies that work in potentially fast-growing markets can especially benefit from introducing the CGO role to their C-suite.
Companies searching for a good CGO need to look for data-focused leaders with cross-function and digital experience.
With a CGO in place, CEOs have reduced responsibilities when it comes to external image management, freeing them to become the true face of the company.

Contact the Consultants Quoted in this Article

Steve Parkes
Senior Partner
Global Head of the Consumer & Retail Practice

Nicola Wensley
Partner
UK

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The Balanced Executive [8 Trends]

Anonymous — Tue, 11 May 2021 08:06:28 +0000

The Balanced Executive [8 Trends] Anonymous (not verified)

Finding common ground between business objectives and employee wellbeing

Empathy has risen above all others as a key skill for leaders. No matter how challenging the situation or context, a willingness from the C-suite to listen and offer help can promote a happier, more productive workforce. Positive, empathetic leadership not only inspires employees, but it also deepens engagement, speeds up problem-solving, and ramps up performance.

There’s a growing demand for leaders that listen and put themselves in their employees’ shoes. Potential C-suite executives are being compelled to act and react compassionately, as well as rationally, and this is being reflected in recruitment processes.

This is a seismic shift in the way we do business, and empathetic leadership has become a lighthouse for those leading from the front – and for those they lead.

As Christophe Rosset, Managing Partner of Continental Europe, explains, company leaders are embracing this shift and are using executive search experts to find these skills in their potential new colleagues. “Today, when talking about a potential executive placement, we look for and assess their intelligence quotient (IQ), emotional quotient (EQ), adaptability quotient (AQ) and their value quotient (VQ).” So, how can companies develop empathetic leadership that will propel the organisation forward?

Today, when talking about a potential executive placement, we look for and assess their intelligence quotient (IQ), emotional quotient (EQ), adaptability quotient (AQ) and their value quotient (VQ).

-Christophe Rosset, Managing Partner, Continental Europe

KEY TAKEAWAYS

Empathetic leadership is key to cultivating a healthy company culture and building more productive working relationships. Managers who emanate and generate empathy are more effective leaders, and those who operate with ‘attitude certainty provide a sense of stability, helping to create a psychological safety net for those around them in times of uncertainty.

Empathetic leaders feel genuine concern for others and are intrinsically motivated to help them thrive.
Empathetic leadership can have an exponential impact on the core development and long-term growth of an organisation. It helps employees feel valued and understood, leading to better employee wellbeing and productivity.
In an increasingly digitalised world, a leader’s ability to communicate empathetically and use their emotions to connect with other people is one of their greatest strengths. Deciphering cues and responding with sincerity and compassion – regardless of the platform – are the hallmarks of an empathetic leader.
Talking about empathy and listening to employees’ individual and honest concerns are key to fostering an empathetic company culture.

EMPATHY AND GROWTH: TWO SIDES OF THE SAME COIN

Empathetic leadership is key to nurturing a healthy company culture and building more productive working relationships. Managers who emanate and generate empathy are more effective leaders. They become vital assets to organisations.

People are the greatest resource in any organisation. The more they feel cared for, the more they care and, in turn, contribute. Caring about employees and caring about the bottom line are not mutually exclusive – they are two sides of the same coin. Empathetic leaders think with their hearts and their heads.

Nicolas Béchu, Global Sponsor for Page Executive and Executive Board Director, PageGroup agrees. As he explains, “Empathetic leaders help everyone. They develop trust in an organisation and help everyone feel understood. For an organisation to perform well, both individually and collectively, people need a voice. An organisation where people can exist as themselves, where they have influence, where they align with the company purpose is an organisation that allows them to thrive. Leadership makes this possible or not.”

PEOPLE-FIRST LEADERSHIP

There is no one-size-fits-all when it comes to practising empathy for employees – and least of all with a pandemic in full swing. With many employees working remotely and connecting digitally with colleagues and managers, daily dilemmas like anxiety, insecurity, isolation, demotivation and work-life balance are bubbling to the surface, all exacerbated by lack of physical presence.

Stanford University found leaders who operate with ‘attitude-certainty’ provide a sense of stability that creates a psychological safety net for those around them in times of uncertainty.

Leaders must take the time to get to know and understand their people as individuals and factor in their strengths and weaknesses. This means checking in regularly, matching tasks to team members based on their needs and goals, and spotting signs of burnout or disengagement before they reach a critical point – all while maintaining a positive attitude.

The results are infinitely rewarding for both sides. Stepping into employees’ shoes – even virtually – can be one of the most beneficial, and even fulfilling, things a leader can do. As Béchu says, “It is not empathy overall, it is empathy for individual performance that is powerful.”

It is not empathy overall, it is empathy for individual performance that is powerful.

-Nicolas Béchu, Global Sponsor for Page Executive and Executive Board Director

By working on a one-to-one basis and keeping an open door and mind, leaders can help bridge the gap. In the words of Sheri Hughes, Diversity & Inclusion Director UK, “As leaders, we look at our people and manage that whole person.”

UNDERSTANDING AND ASSESSING EMPATHETIC LEADERSHIP

The impact is palpable for an organisation. Page Executive research reveals that the most empathetic companies outperform those that demonstrate the lowest levels of empathy by 50%. According to Belinda Parmar, CEO of The Empathy Business, the definition of empathy within a business is “the emotional impact that a company has on its people – staff and customers – and also society”.

The positive effects of greater empathy ripple through to every level of a company, including human resources. Savvy executive search experts are doing a full 360 when assessing a client’s recruitment needs and spotting empathetic leaders. Senior leaders are being challenged to show the empathy they seek, immersing themselves in the environment of the client to increase the chances of a better top talent-to-role fit.

One method of assessing the level of empathy in an organisation, or indeed in an executive, is the EMBRACE model, as designed by Parmar. The model takes seven drivers behind empathy – Empowerment, Meaning, Belonging, Reassurance, Authenticity, Collaboration and Ethics – and scores them low, medium or high.

The output helps to judge the level of empathy, set within the definitions above, giving leadership the opportunity to see where they excel and where they have work to do. If applied to recruitment, the same can be said of an executive and how they approached specific past problems.

As Béchu explains, Page Executive are leading from the front in the assessment of a potential leader’s approach to empathy. “We are redefining the way we approach interviews, to focus not only on skills but also on the capacity to show emotional intelligence and, of course, their values. The real values of the leader. We want to find the capacity of that person to show empathy and will use interviews to dig for examples of this. For example, we could ask, how do you as a leader guide your team, and what is your style of leadership? We aim to discover their positioning in terms of leadership, to understand the values they bring.”

Donna Croucher, Partner UK, agrees with Béchu that it is important to assess any potential leader for these skills. As she says, “If you haven’t got that empathetic leadership, if it is not visible and not being practised day to day, it probably means you haven’t got that deeper connection with your employees.”

If you haven’t got that empathetic leadership, if it is not visible and not being practised day to day, it probably means you haven’t got that deeper connection with your employees.

-Donna Croucher, Partner, UK

STRIKING THE BALANCE AS AN EMPATHETIC LEADER

Empathetic leadership isn’t a rose garden. Leaders walk a fine line when it comes to how close they get, and there are a few golden rules to bear in mind. It’s vital not to confuse empathy with sympathy – which might be perceived as condescending or even intrusive. Fortunately, this soft skill can be taught and learned through coaching and training, and various options exist to help leaders practise empathy without crossing the line.

Generating empathy starts with talking about empathy. Leaders should explain why they feel it is important and be clear about their motivation to see employees – and the company – thrive. It’s also about listening. Executives who adopt active listening techniques nurture transparency and trust. Keeping communication channels open and creating a safe space where people can be truly honest is foundational to empathetic leadership.

As Rosset explains, empathetic leaders show their strength at the hardest of times. “To be empathetic means actively appreciating diversity of cultures and backgrounds. And it means cultivating a culture of courage and accepting lessons, even if they are hard to accept, because this is the mark of a truly empathetic leader,” he concludes.

Ultimately, understanding others starts with understanding ourselves. Empathetic leaders aren’t afraid to share their own highs and lows with the team (within reason). At the heart of a human-centred mission is a human boss. Injecting humour and even a dash of self-irony, offering personal anecdotes and positioning oneself as one of the team – not one rung above them – creates rapport and that all-important feeling that “we are in this together”

KEY TAKEAWAYS

Empathetic leaders feel genuine concern for others and are intrinsically motivated to help them thrive.
Empathetic leadership can have exponential impact on the core development and long-term growth of an organisation. It helps employees feel valued and understood, leading to better employee wellbeing and productivity.
In an increasingly digitalised world, a leader’s ability to communicate empathetically and use their emotions to connect with other people is one of their greatest strengths. Deciphering cues and responding with sincerity and compassion – regardless of the platform – are the hallmarks of an empathetic leader.
Talking about empathy and listening to employees’ individual and honest concerns are key to fostering an empathetic company culture.

Contact the Professionals Quoted in this Article

Nicolas Béchu
Executive Board Director
Global Sponsor

Christophe Rosset
Managing Partner
Head of Continental Europe

Donna Croucher
Partner
UK

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The Business-Savvy Chief Human Resources Officer [8 Trends]

Anonymous — Mon, 19 Apr 2021 13:11:28 +0000

The Business-Savvy Chief Human Resources Officer [8 Trends] Anonymous (not verified)

Connecting people with purposeful long-term development

The CHRO role has continued the transformation of recent years. Long gone are the days of overseeing administrative processes; today’s CHROs are at the front line of building company strategy and enhancing competitiveness. While this role has been evolving for years, the pandemic has brought the magnitude of this shift into sharp focus.

In a crisis, what pulls a company through to the other side? Effective talent management has proven to be vital for companies to weather the storm. When unforeseen circumstances rock the boat, it’s the agility of the CHRO that makes the difference in keeping people engaged and committed within a culture of trust.

The CHROs best prepared to navigate this VUCA (Volatile, Uncertain, Complex and Ambiguous) landscape combine business acumen with a people-first approach. So, how can companies find this profile – and how can the CHRO bring maximum impact to organisations today?

KEY TAKEAWAYS

The CHRO profile has evolved from supporter of the business to essential business partner. With a focus on people, engagement, reputation and maximising talent potential, modern CHROs play a vital role in developing business strategy. Their ability to build a high-trust culture has become increasingly important in a VUCA world. By connecting people with purpose, today’s CHROs are laying the groundwork for sustainable transformation.

CHROs must truly understand the business to make an impact – the most successful CHROs merge extensive business knowledge with authentic leadership skills to drive meaningful change.
CHROs are uniquely positioned to connect people with purpose – a key factor in talent attraction and retention.
Agile CHROs are transforming the employee experience through personalisation, talent development and AI-powered enhancements.
By bridging business growth and individual growth, CHROs have become indispensable strategic partners and decision-makers.

A PURPOSE-DRIVEN PROFILE

The modern CHRO requires a deep understanding of the business as well as the soft skills to build relationships and lead organisational change. With such multifaceted challenges, the role is ripe for a broad range of talent. According to Jon Goldstein, Global Head of the HR Practice, “The vast majority of CHROs promoted internally don’t come from HR but from other backgrounds, such as finance, sales or marketing. Today’s CHRO has a bigger voice among executives, so this role appeals to different types of people.”

The vast majority of CHROs promoted internally don’t come from HR but from other backgrounds, such as finance, sales or marketing. Today’s CHRO has a bigger voice among executives, so this role appeals to different types of people.

-Jon Goldstein, Global Head of the HR Practice,

Bringing talent from outside the traditional HR function into the CHRO role is one way to ensure alignment between business and employee wellbeing. Another way to gain fresh perspective is to hire externally. “When companies hire externally for a CHRO, the profiles predominantly come from an HR position,” notes Goldstein. In this case, CHROs must quickly learn the ropes of their new organisation. “The more you understand what the business does, the more impact you can have as CHRO,” he adds.

But to drive impact, CHROs also need authentic leadership skills. According to Margarita Maldonado, Associate Principal Latin America, “The CHRO is fundamental to achieving true authentic leadership and ‘humanising’ company processes. This is crucial for organisations to be competitive in a constantly changing environment.” Effective CHROs embody the four aspects of authentic leadership: self-awareness, relational transparency, balanced processing and internalised moral perspective. Such skills are essential for CHROs to fulfil their strategic mission as a partner to the business.

STRENGTHENING THE BOND BETWEEN PEOPLE AND PURPOSE

Attracting and retaining talent is one of the biggest hurdles facing companies today. Juliana Acosta, Associate Partner Latin America, observes, “Talent is still hard to find. Organisations want people with the potential to take on different roles; skills like agile learning, resilience, complex thinking and leadership with empathy are in demand. Meanwhile, we are evolving from a client-based market to a candidate-based market, where the challenge will be to offer purposeful growth to connect with people.”

Talent is still hard to find. Organisations want people with the potential to take on different roles; skills like agile learning, resilience, complex thinking and leadership with empathy are in demand. Meanwhile, we are evolving from a client-based market to a candidate-based market, where the challenge will be to offer purposeful growth to connect with people.

-Juliana Acosta, Associate Partner Latin America

Modern CHROs understand their organisation as an active system that depends on human factors. This means pinpointing current and future talent gaps while also building strategies to support employee engagement. As Goldstein says, “In a tough market, it should be easier to retain people, but the reality is that talent demands more from the company: diversity and inclusion, social commitment, environmental responsibility… It’s harder to retain people if your company isn’t serious about those issues.”

CHROs are uniquely positioned to champion such issues as cornerstones of the company. In doing so, they strengthen the connection between people and purpose. It’s a move that makes smart business sense: Gallup reports that a 10% improvement in employees’ connection with the mission of their organisation can lead to an 8.1% decrease in turnover and a 4.4% increase in profitability.

HUMANISING EMPLOYEE EXPERIENCE WITH DEVELOPMENT AND ENGAGEMENT

How are today’s CHROs using their knowledge of the business to generate sustainable organisational change? Agile HR executives are shaking up company culture and transforming HR services to deliver a better employee experience.

For example, companies have traditionally invested considerable time and money into performance management systems. Yet, according to Gallup, only 14% of employees feel inspired to improve by the standard twice-yearly performance review, proving there are gaps in the current approach for the CHRO willing to make assessments more employee-friendly, less static and more reflective of workplace reality.

Pushing cumbersome processes aside, people-centric CHROs are relying on personalisation and development to motivate employees. Companies that offer reskilling and upskilling programmes increase engagement while enabling talent to flourish. During rapid changes in how people work, such as throughout the recent health crisis, well-designed training can save the day by building employee resilience and confidence, helping the workforce to thrive in the face of sudden transformation.

AI tools have become increasingly important to establish personalised plans of wellbeing, retention and development. This helps HR to better focus resources and make a greater impact throughout the organisation.

-Margarita Maldonado, Associate Prinicpal Latin America

Development opportunities are in demand among employees; according to a recent PageGroup Europe study, 34% of job applicants have upskilled, 32% have reskilled, and 31% have attended a webinar related to their role, highlighting that the skills revolution is happening, with or without the support of the employee’s organisation.

Informed CHROs understand how to use technology to enhance – not replace – HR services. “AI tools have become increasingly important to establish personalised plans of wellbeing, retention and development. This helps HR to better focus resources and make a greater impact throughout the organisation,” notes Maldonado. “We see more companies using algorithms and CV parsing to make an unbiased pre-selection of leaders. These tools encourage diversity and inclusion while increasing recruitment efficiency,” adds Acosta.

THE CHRO AS BUSINESS PARTNER

Aligning business growth with the growth of each employee, the role of the CHRO is more complex and rewarding than ever.

“Companies are becoming more human, promoting empathy and training their leaders to motivate people to keep them committed,” explains Acosta. This puts CHROs at the helm of driving cultural change and organisational strategy.

In a fast-paced market, CHROs need the agility and foresight to make the right move at the right time. For example, as companies seek to replace talent rapidly, quick-thinking CHROs are using agencies to fill the talent gap at all levels. “Executive search experts know how to match the values of an executive with an organisation, alongside finding a match for their ambitions. A key factor is already having the network in place and being well versed in the market realities to offer quick business solutions, based on culture fit and expectations,” explains Goldstein.

Bridging profitability and wellbeing, today’s CHRO is an indispensable business partner. “In Latin America, we see CHROs becoming board members at the corporate level. With their broad knowledge and experience, they are a fundamental pillar in decision-making,” says Acosta.

KEY TAKEAWAYS

CHROs must truly understand the business to make an impact – the most successful CHROs merge extensive business knowledge with authentic leadership skills to drive meaningful change.
CHROs are uniquely positioned to connect people with purpose – a key factor in talent attraction and retention.
Agile CHROs are transforming the employee experience through personalisation, talent development and AI-powered enhancements.
By bridging business growth and individual growth, CHROs have become indispensable strategic partners and decision-makers.

Contact the Consultants Quoted in this Article

Jon Goldstein
Senior Partner
Singapore

Juliana Acosta
Associate Partner
Mexico

Margarita Maldonado
Associate Principal
Colombia

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The Connected Chief Technology Officer [8 Trends]

Anonymous — Mon, 08 Mar 2021 17:09:56 +0000

The Connected Chief Technology Officer [8 Trends] Anonymous (not verified)

Linking new technologies with organisational strategy

If ‘digital transformation’ was already a buzzword, then 2021 will put the term in a whole new light. As many companies suddenly shifted to remote work and online business models, agile CTOs were key to accelerating transformation and ensuring the smoothest transition possible.

2020 marked a turning point in the evolution of the CTO role. Technological know-how is no longer enough; today’s CTO needs the skills to bridge business strategy with emerging digital trends, now and in the future.

But short-term decision-making, while necessary, doesn’t define the purpose of the CTO. Successful technology leaders must embody McKinsey’s ideal of the ‘third-horizon thinker’: driving continuous innovation within the current business model and expanding that model by breaking into new markets, while ultimately creating new capabilities to seize disruptive opportunities for growth.

So how can organisations find the best fit for this critical role?

KEY TAKEAWAYS

The modern CTO needs more than digital mastery. Today’s technology leaders should be ‘third-horizon thinkers’, envisioning opportunities for the current business model, helping to define its expansion, and plotting long-term growth for the organisation through technology. Their success depends on their ability to match current and future business needs to the right technologies. At the same time, CTOs must have the leadership skills to ensure that all stakeholders are on board.

Today’s CTO needs to bridge technology market trends with business needs, all while communicating effectively with C-suite peers and remote, diverse teams.
The roles of the business-minded CTO and tech-savvy CEO are not interchangeable, but together, the pair is an ideal team for aligning technology with business strategy.
The decision to hire a CTO internally or externally depends on each organisation’s needs; many seek external executives to bring fresh perspective and innovation to the business.
When assessing executives for the CTO role, executive search consultants should look for examples of past behaviour that reflect innovation, leadership and the ability to think critically

THE MODERN CTO PROFILE

What skills should companies look for in a CTO? The role often requires leading diverse and remote teams, so communication skills should come top of the list. Fernanda Amorim, Global Head of the Technology Practice, says, “Organisations often look for CTOs who work with ‘liquid’ structures, who are able to assemble and dissemble teams for different projects. These companies know their potential CTO needs strong interpersonal skills to do that in a successful and effective way.”

A CTO is an ambassador for tech. The challenge is to match the idea of transformation within the company with the vision of the potential CTO. They must convey a vision and inspire people, translating business needs into technology.

-Stefano Cavaliere, European Head of the Technology Practice

Technological competency is a given for the role, but the ability to translate data and technical jargon into simple, clear language is key for CTOs to engage stakeholders. “A CTO is an ambassador for tech,” says Stefano Cavaliere, European Head of the Technology Practice. “The challenge is to match the idea of transformation within the company with the vision of the potential CTO. They must convey a vision and inspire people, translating business needs into technology,” he concludes.

As part of this interpretation of the role, modern CTOs should embrace an entrepreneurial mindset and take this ‘third-horizon’ approach to innovation. Monitoring the pulse of digital trends, their job is to leverage new technologies to achieve results over time and support business growth. “The CTO must be restless in searching for opportunities to make businesses more viable, agile and appealing to the consumer,” Amorim explains. “Many clients say, I don’t want a CTO who will say ‘no’ to my requests. I want one that will say ‘how’.”

Addressing that ‘how’ involves building the right talent to be able to respond in an agile way to an organisation’s ever-evolving technology goals. “The CTO has a crucial role in the recruitment and hiring process, especially for global teams,” says Cavaliere. CTOs need to be involved from the beginning to identify the best executives based on technical skills and cultural fit, alongside C-suite alignment.

BUSINESS-MINDED CTOS AND TECH-SAVVY CEOS

According to Amorim, “There is no business these days that doesn’t depend on technology to evolve. Because of this, leadership teams want the CTO to be someone who is in lockstep with the CEO, sharing an equal view on the technology future of the business.” Taking a strategic view is a must for modern CTOs. And in today’s fast-changing business and tech environment, the ability to make quick decisions is an essential leadership skill.

There is no business these days that doesn’t depend on technology to evolve. Because of this, leadership teams want the CTO to be someone who is in lockstep with the CEO, sharing an equal view on the technology future of the business.

-Fernanda Amorim, Global Head of the Technology Practice

More than ever, the CTO is responsible for making business-driven technology decisions understandable for the wider C-suite team. As Amorim explains, “Technology is a day-to-day job that takes up too much work to be in any way a shared responsibility. The modern CTO profile has to consider all types of business decisions and needs to dedicate themselves to effectively explaining this evolving tech landscape to the board, the CEO and down the management pyramid.”

While each role has its own priorities, pairing a business-minded CTO and tech-savvy CEO can make for a powerful leadership duo. Leaders in these positions who see eye-to-eye are more likely to build a solid technology strategy that aligns innovation with business goals.

One problem is that many organisations are not ready and willing to make a serious investment in technology. You can hire the best CTO in the world, but if your business model and your stakeholders are not ready to understand and listen to this person, you lose.

-Stefano Cavaliere, European Head of the Technology Practice

In fact, the commitment of organisations as a whole to technology is fundamental to the success of a CTO. As Cavaliere says, “One problem is that many organisations are not ready and willing to make a serious investment in technology. You can hire the best CTO in the world, but if your business model and your stakeholders are not ready to understand and listen to this person, you lose.”

IN-HOUSE OR EXTERNAL?

Should organisations hire their CTO externally to stimulate fresh innovation? Or can the best talent be found in-house? The answer depends on the business needs and goals of the organisation. Each choice offers different advantages.

With deep knowledge of the business, long-standing relationships and a track record of performance, an internally promoted CTO is ready to hit the ground running but may be less inclined to challenge the status quo. An externally hired CTO, conversely, needs time to understand the business and adapt to its culture, but brings a valuable outside perspective to the role. As more companies prioritise digital transformation and innovation, the latter has become increasingly common.

Teaming up with an executive search partner can help organisations to make the right choice. “When looking for a CTO, first talk with an executive search partner to ensure you have a clear picture of your actual governance set-up,” says Cavaliere. Your executive search partner can then help you identify the right profile internally or assess the best external leaders from the global talent pool.

FINDING YOUR NEXT CTO

How do executive search experts assess a senior leader’s potential as CTO? Cavaliere says they look for “communication, attitude and innovation”. He adds, “The CTO should always be aware of new technology trends and be able to communicate them in a simple way: they need to be the translator for the company.”

Amorim agrees that adaptability is vital: “Some CTOs are still very traditional, and they don’t follow market changes as fast as they should. For example, they might be slower to move to the cloud because they can’t effectively measure the risks and returns of that investment.”

Some CTOs are still very traditional, and they don’t follow market changes as fast as they should. For example, they might be slower to move to the cloud because they can’t effectively measure the risks and returns of that investment.

-Fernanda Amorim, Global Head of the Technology Practice

Headhunters should conduct behavioural assessments to evaluate what executives can bring to the table. “I would look for examples in their history. Dive a little deeper into this person’s previous experiences. What would they have done differently if current technologies were available? It’s important to be self-critical because the CTO role is always an opportunity for self-development,” says Amorim.

Finally, the interview process may involve not only the CTO’s potential C-suite peers but also their teams. Particularly in the technology industry, it is not uncommon for teams to have a say in whether a CTO makes the cut. Organisations need to consider if such processes are beneficial to finding the right technology leader to achieve their mission.

KEY TAKEAWAYS

Today’s CTO needs to bridge technology market trends with business needs, all while communicating effectively with C-suite peers and remote, diverse teams.
The roles of the business-minded CTO and tech-savvy CEO are not interchangeable, but together, the pair is an ideal team for aligning technology with business strategy.
The decision to hire a CTO internally or externally depends on each organisation’s needs; many seek external executives to bring fresh perspective and innovation to the business.
When assessing executives for the CTO role, executive search consultants should look for examples of past behaviour that reflect innovation, leadership and the ability to think critically

Contact the Consultants Quoted in this Article

Fernanda Amorim
Partner
Brazil

Stefano Cavaliere
Associate Partner
Italy

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The CFO, Master of Resilient Adaptability [8 Trends]

Anonymous — Tue, 26 Jan 2021 09:24:21 +0000

The CFO, Master of Resilient Adaptability [8 Trends] Anonymous (not verified)

An Agent of Change in Difficult Circumstances

Radical shifts in business models, technology and talent made the rise of the transformational CFO visible to the corporate world: a financial leader with the skills to build trust throughout the organisation and drive change. Moving forward into 2021, this profile continues to expand once again. To succeed in unprecedented circumstances, today’s CFO requires resilient adaptability, technical finesse and emotional intelligence.

KEY TAKEAWAYS

Today’s financial leaders need technical finesse, emotional intelligence and resilient adaptability to navigate an unpredictable landscape. Forwardthinking CFOs are a force of dynamic stability for organisations, planning for potential issues and increasing robustness while integrating productivity gains into the company. Working in close collaboration with the C-suite, CFOs are reinventing business models and steering organisations towards long-term profitability.

Resilient CFOs are taking the crisis as an opportunity to face problems head-on and make organisations less vulnerable in the future.
In staging the return to post-pandemic work, CFOs need to analyse the risks of different possible scenarios, balancing short-term needs with opportunities for long-term growth.
As digitalisation accelerates, CFOs should prepare to invest intelligently in a virtual future while ensuring that they bring everyone on board.

The sudden financial challenges brought on by industry shutdowns and mass furlough schemes have put extra pressure on the hard skills of CFOs and their teams. Meanwhile, accelerated digitalisation has led to additional expense, but also opened doors to productivity gains and new business models. Among the C-suite, all eyes are on the CFO’s emotional intelligence and ability to convey understanding of these changes throughout the organisation.

In this rapidly evolving landscape, how can CFOs embrace change and pave the way for organisational growth?

A FORCE OF DYNAMIC STABILITY

According to author Thomas Friedman, “Some of our leaders want to build a wall against the hurricane. And my argument is you have to build an eye that moves with the storm and draws energy from it, but creates a platform of dynamic stability within it. That is the healthy community where people can feel connected, protected and respected.”

CFOs need to provide dynamic stability now more than ever. “Clients are looking for resilience at the centre of the CFO,” agrees Adriana Fraga, Associate Partner Latin America. The ability to take different financial scenarios into account when making decisions is essential. It’s a juggling act: “CFOs must consider economic variables, geographical differences, new business models – and let’s not forget technology. This is their strength,” she adds.

Clients are looking for resilience at the centre of the CFO. CFOs must consider economic variables, geographical differences, new business models – and let’s not forget technology. This is their strength.

-Adriana Fraga, Associate Partner Latin America

With so many short-term and long-term uncertainties, bringing dynamic stability to the business is all about adaptability and reinvention. According to Daniel Yates, Global Head of the Finance Practice, “The best CFOs are using the crisis to instigate change and acceleration – to transform the business, to make it more robust, to future-proof it.”

Resilient CFOs are helping organisations to make a post-pandemic comeback, adapt to digitalisation and chart new paths towards profitability.

MOVING WITH THE EYE OF THE STORM

“No one saw the challenges of last year coming, but some CFOs reacted better,” says Dan Plourde, Partner North America. “That’s who I’m searching for: how are top financial leaders facing the unexpected – and finding windows of opportunity?”

The challenges have been many: from shutdown-induced revenue loss to the tax burdens of furlough schemes, CFOs and their teams are being summoned to analyse and mitigate the impacts of the current crisis. “At the moment, cash is king and balance sheet management is the crown,” says Yates. For CFOs, the challenge is to balance short-term liquidity needs with long-term plans for recovery and profitability.

“Is risk analysis becoming a bigger part of it? I think so,” says Palladino. The hard skills of number-crunching are still key, with risk analysis becoming even more essential in today’s fast-changing context. Smart CFOs are harnessing dynamic risk-modelling tools and portfolio optimisation to build risk-resilient plans and plot new ways forward. Fraga explains, “The CFO must take advantage of the crisis in terms of changing the business model, of divesting, of balance sheet control.”

However, proposing alternatives to the business-as-usual approach requires empathy as well as financial savvy. Today’s CFO needs to be open to diverse ideas, listening to shareholders and learning from other companies. On the other hand, with their nuanced understanding of risks and opportunities, CFOs must be brave enough to go against the grain. “We want someone who’s going to bring different perspectives and different views: someone who will challenge the board and the business,” says Yates.

At the moment, cash is king and balance sheet management is the crown.

-Daniel Yates, Global Head of the Finance Practice

DRIVING DIGITALISATION BUY-IN

The rapid digitalisation of 2020 has added another layer of complexity to the CFO’s role. According to a Deloitte survey, more than 60% of CFOs expect their investments in information technologies for virtual and automated business operations to increase.

Close collaboration with technology leaders has become key for CFOs to identify the best digital solutions in terms of business continuity and productivity. Many digital tools, including remote work environments and online business channels, have been launched and expanded in a short amount of time. The onus is on CFOs to understand what’s working and what can be improved for long-term success, measuring revenue and productivity gains as well as the ongoing costs of supporting digital ecosystems.

As the future becomes increasingly virtual, demand for digitally fluent CFOs is on the rise. But contrary to what clients may think, the best CFO for the job isn’t always one from the tech sector. Fraga points out, “If CFOs come from a tech company, they come from an already digitalised firm. So, that CFO perhaps wouldn’t perceive, at first sight, the associated costs of digitalising an organisation. We’ve seen the demand is higher for CFOs that have collaborated on digital transformation projects inside their organisations, regardless of the sector they come from.”

For CFOs to lead digital transformation, soft skills are just as important as analytical skills. “You could implement the best technology in the world, but if you can’t sell it to the people within your organisation, it will fail. Bring everybody along, and you will get that extra invisible 10–15% of performance,” says Yates.

CHARTING THE PATH TO PROFITABILITY

The transition to a world of remote work has amplified the need for CFOs to build trust throughout the organisation. “It’s leadership by influence, right?” says Palladino. “The CFO is a key part of influencing, from the board of directors down and vice versa.”

You could implement the best technology in the world, but if you can’t sell it to the people within your organisation, it will fail. Bring everybody along, and you will get that extra invisible 10–15% of performance.

-Daniel Yates, Global Head of the Finance Practice

So how can CFOs influence from a distance? Palladino notes, “Reputation, quick decisionmaking, trust and relationships with leadership all help CFOs adapt to the reality of making big decisions remotely.” Emotional intelligence is key, as financial leaders rely on their relationships with the CEO and across the C-suite to steer the business towards profitability.

Reputation, quick decisionmaking, trust and relationships with leadership all help CFOs adapt to the reality of making big decisions remotely.

-Dan Plourde, Partner North America

With a finger on the pulse of the modern global economy, CFOs are vital to creating long-term stability through awareness of and preparation for potential issues. Their task is to safeguard the organisation from vulnerabilities while strengthening sustainable business structures and establishing new avenues of growth aligned with the CEO’s agenda.

The modern CFO is constantly evolving, learning and reinventing. As Yates says, “I know several CFOs who are currently acting as the interim CEO, and given where we are in the economic cycle, it absolutely makes sense. It wouldn’t surprise me if we see even more CFOs stepping into Chief Executive roles, hand in hand with this idea of dynamic stability, of resilience.”

KEY TAKEAWAYS

Today’s financial leaders need technical finesse, emotional intelligence and resilient adaptability to navigate an unpredictable landscape. Forward thinking CFOs are a force of dynamic stability for organisations, planning for potential issues and increasing robustness while integrating productivity gains into the company. Working in close collaboration with the C-suite, CFOs are reinventing business models and steering organisations towards long-term profitability.

Resilient CFOs are taking the crisis as an opportunity to face problems head-on and make organisations less vulnerable in the future.
In staging the return to post-pandemic work, CFOs need to analyse the risks of different possible scenarios, balancing short-term needs with opportunities for long-term growth.
As digitalisation accelerates, CFOs should prepare to invest intelligently in a virtual future while ensuring that they bring everyone on board.

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Find a consultant

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Are you looking to hire? Request a call back from our team of experts now.

Are You an Inclusive Changemaker? [8 Trends]

Anonymous — Tue, 23 Jun 2020 08:41:35 +0000

Are You an Inclusive Changemaker? [8 Trends] Anonymous (not verified)

How Diversity and Inclusion Can Accelerate Your Business

Diversity is the word on countless executives’ lips. As today’s organisations increasingly operate on a global scale, they know it is crucial that they reflect the diversity of the markets in which they operate. Diverse teams are vital to effectively connect with – and engage – consumers around the world.

KEY TAKEAWAYS

Without an inclusive environment, diversity becomes unsustainable. Leaders are responsible for embedding effective inclusive cultures that attract, retain and engage top talent.

Create and implement a D&I policy that covers all processes and practices and encompasses all employees and partners
Aspire to fulfil the Six Traits of Inclusive Leadership
Ask – don’t guess – team members’ motivations and needs
Factor flexibility, empathy and inspiration into the recruitment process

As Stephan Surber, Global Head of the Financial Services Practice explains, the path is not easy to follow – but it is one of the keys for success. “With the best of intentions but without an inclusive environment, diversity becomes unsustainable within a business. The responsibility is on leaders to embed effective inclusive cultures that attract, retain and engage top talent at all levels,” he says.

With the best of intentions but without an inclusive environment, diversity becomes unsustainable within a business. The responsibility is on leaders to embed effective inclusive cultures that attract, retain and engage top talent at all levels.

-Stephan Surber

Transformational
Leadership

Download the Full Report

RECRUITING A DYNAMIC, DIVERSE WORKFORCE

How does diversity and inclusion impact recruitment? “When it comes to attracting diverse talent, a recruiter’s role is to understand and mirror a company’s values throughout the entire hiring process, and to find the executives that exemplify them – and can drive them forward,” explains Jiri Gazda, Partner Central and Eastern Europe.

Why? Because top candidates value a show-don’t-tell approach to diversity and inclusion. Establishing clear role models can be highly effective. And embracing a diverse workforce – made up of individuals and groups of different genders, ethnicities, beliefs, cultures, ages and language skills – offers exponential benefits to organisations.

“Being open is vital. We often encourage leaders to widen their scope in terms of the potential candidates they look at to include diversity of age, location, educational background and so on, and to adapt practices and processes that both attract and retain the best candidates from the most diverse pool of talent,” Gazda continues.

DIVING INTO DIVERSITY (HEAD FIRST)

“Companies that diversify their talent and foster inclusive culture are often more innovative and have stronger employee brands, which helps improve the attraction of top talent,” says Gazda.

Companies that diversify their talent and foster inclusive culture are often more innovative and have stronger employee brands, which helps improve the attraction of top talent.

-Jiri Gazda

The equation should be simple: greater diversity equals greater capacity to attract and retain talent, a competitive edge coming through differing viewpoints, stronger productivity – and a better bottom line. However, managing a high-performing and diverse workforce requires daily commitment from the senior team.

According to PageGroup research on Inclusion in the UK Workplace, 61% of workers have experienced feelings of exclusion within the workplace, most commonly office cliques (30%), or have witnessed bullying or discrimination (21%). To ensure sustainability, diversity must be aligned with inclusion and a sense of belonging.

According to Sheri Hughes, Diversity & Inclusion Director UK, it’s never too early to start thinking outside the box. “It starts right at the beginning. You need to think about: where you’re advertising; the language you’re using; the experience that the candidate will have when they apply. Whether you speak over the phone or face to face... there are many ways of demonstrating signs of inclusion,” she explains.

BECOME AN INCLUSIVE CHANGEMAKER

Empathy is at the heart of a successful Diversity & Inclusion (D&I) policy. Like many aspects of company culture, empathy can be managed and measured.

According to Dan Robertson, Director at Vercida Consulting, the ingredients of high performance are “alignment between diversity and inclusion and a central core of psychological safety.” And when this alchemy is achieved, organisations start to fly.

Vercida Consulting has identified six key traits of inclusive leaders:

INSPIRE: articulate the business performance benefits of diverse and inclusive teams
INTEGRITY: explain their weaknesses and strengths and build team trust
INSIGHT: understand their biases to learn about the experiences of team members
INQUISITIVE: pay attention to the patterns of behaviours within their teams
INDIVIDUATE: encourage connectivity and belonging through team events
INVEST: invest in team members through sponsorship and fair work allocation

These six points can help to shape an effective D&I policy that squares up to the challenges of a globalised workforce and potentially transforms employee satisfaction, cohesion and performance.

LEADING BY EXAMPLE

An inclusive company culture allows each individual, regardless of background, to use their potential in the workplace and enable colleagues to do the same. Leaders must create and implement an evolving company-wide D&I policy – even if this means moving mountains.

According to Page Executive’s 2018/9 Inclusion in the UK Workplace study, 42% of UK workers feel that their company prioritises diversity and inclusion enough. How could this figure be higher? Surber explains that, “A truly inclusive organisation is prepared to ask tough questions and make changes. Inclusion must be fostered, cultivated and integrated into company culture from the executives down so the company follows,” he says.

Our research also reveals that only 34% of C-level execs say their company has a D&I policy – and know what it is. So, what skills do senior leaders need to become inclusive leaders? They make inclusivity a blueprint in all dimensions of company life.

“If, as an organisation, you care about D&I, you should mirror that in every single supplier relationship - whether it’s your recruitment supplier or energy provider. If it matters to you, it should matter to every partner you work with,” explains Hughes.

If, as an organisation, you care about D&I, you should mirror that in every single supplier relationship - whether it’s your recruitment supplier or energy provider. If it matters to you, it should matter to every partner you work with.

-Sheri Hughes

Transformational
Leadership

Download the Full Report

CHALLENGE YOUR PERCEPTIONS

Page Executive strives to challenge clients’ ideas of what talent looks like. According to Deloitte, in companies with a female CEO, 29% of board roles are filled by women, suggesting that focussing on diversity and inclusion at the top tier can facilitate change at all levels.

Achieving gender parity has also become a hot topic in the financial services sector. As Surber illustrates, “We recently placed a number of diverse profiles from non-financial services backgrounds into different banking groups.

“While these professionals need different support compared to someone that has banking knowledge, they reciprocate the trust by bringing a different voice, perspective and insight,” he concludes.

And as Gazda explains, all companies can follow the path to greater diversity, there simply needs to be the impetus to do so. “Page itself is a company that went through an enormous process of change. It supports flexible and dynamic working, focusses on gender equality and encourages international moves between companies.

“I am really proud to form a part of this company. We understand the topics of D&I because we are living it,” says Gazda.

KEY TAKEAWAYS

Without an inclusive environment, diversity becomes unsustainable. Leaders are responsible for embedding effective inclusive cultures that attract, retain and engage top talent.

Create and implement a D&I policy that covers all processes and practices and encompasses all employees and partners
Aspire to fulfil the Six Traits of Inclusive Leadership
Ask – don’t guess – team members’ motivations and needs
Factor flexibility, empathy and inspiration into the recruitment process

Contact the Consultants in this Article

Jiri Gazda
Partner
Europe

Sheri Hughes
UK D&I Director at PageGroup
United Kingdom

Stephan Surber
Senior Partner
Europe

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Talent Has No Age in Today's World of Business [8 Trends]

Anonymous — Tue, 02 Jun 2020 08:10:01 +0000

Talent Has No Age in Today's World of Business [8 Trends] Anonymous (not verified)

Multi-gen Workforce is Shaking the Foundations

For the first time in history, our workforce is uniting three generations of employees. Companies are logically looking for the best talent to fill their leadership roles. Executive recruiters and the businesses they work with are making giant leaps in enriching company cultures and establishing diversity and inclusion by evolving what it means to talk about (and hire for) leadership profiles.

KEY TAKEAWAYS

Diversity is of far greater benefit to a company than generational rhetoric and stereotyping. If recruiters and employers can keep an open mind and an open door, they can harness the multiple advantages of multigenerational leadership.

See the bigger picture: Go beyond generational pigeonholing
Focus on individuals rather than groups. Consider personal merits, characteristics and job fit
Make informed decisions: Consider a candidate’s current context and life stage before their high school yearbook
Encourage intergenerational collaboration in the workplace through meaningful groupings

To stay ahead of the curve and the competition, savvy senior leaders are recognising and rethinking their unconscious bias regarding generational differences.

Executives across the board are moving from a fixed mindset about talent to a growth mindset, shaking the very foundation of what being a “generation” is – and empowering employees to bring unique skill sets, and greater impact, to the table.

So, how can you find senior leaders with the right mindset to manage the multigenerational workforce?

Transformational
Leadership

Download the Full Report

THE GOOD NEWS: WE’RE ALL LIVING AND WORKING LONGER

Research by Bloomberg reveals that by 2026, 30% of people aged 65–74 will be employed in the workplace, side by side with younger generations. In fact, the office is the most likely place to find various generations interacting under one roof. Learning to understand each other and avoiding prejudices about how people of certain generations are likely to behave is essential to work effectively together.

This is especially true when it comes to identifying, on-boarding and integrating effective leaders.

“For senior hires, we notice that our clients are generally more interested in candidates that are on the upward trajectory in their career, rather than the latter stages. This isn’t always the right decision and we will challenge them with a recommendation based on our assessment of each individual,” explains Jessica Whitehead, Partner and Global Head of HR Practice UK

For senior hires, we notice that our clients are generally more interested in candidates that are on the upward trajectory in their career, rather than the latter stages. This isn’t always the right decision and we will challenge them with a recommendation based on our assessment of each individual.

-Jessica Whitehead

Raphael Asseo, Partner Europe, agrees. “Age is often wrongly associated with steps: you cannot be CEO at 30, nor can you step down to a number 2 role when you have already reached number 1. This is where an executive partner can offer added insight and perspective. There are no greater or lesser roles anymore. There is only a leader’s next great challenge, in the moment that they are ready to rise up to it,” he says.

Countless studies have proven that work attitudes are similar across generations. CultureAmp found that there are few or no differences across generations in career opportunities, confidence in leadership, personal learning and development, communication, etc.

WATCH OUT FOR SUBLIMINAL GENERATIONAL MESSAGES

Senior leaders often assume that different generations can’t co-exist and thrive together in the workplace. But diversity can be a lifesaver.

Asseo explains, “Senior leaders with diverse backgrounds and ages can contribute unique perspectives, ideas and experiences, helping to build resilient, resourceful organisations that outperform those that do not invest heavily in diversity.”

According to a 2018 Boston Consulting Group study, companies with diverse management teams, i.e. those including women, minorities, different ages and educational backgrounds, have 19% higher revenues – thanks to their capacity for innovation.

As Whitehead explains, “Executive recruiters need to assert the benefits of multi-gen leadership to their clients, especially when those clients have a clear expectation regarding who they are or are not looking for.”

So, which stereotypes should be avoided?

Boomers don’t know what CTO stands for. Not only are Boomers gadget-savvy, they are consuming tech at a pace equal to – or faster than – their younger counterparts, especially in the tablet market, where Boomers use tablet devices 20% more than Gen X – according to Pew Research.
Gen X are sceptical people who approach innovation and cultural shift with cynicism and contempt. Whitehead believes that Gen X are less rigid than their reputation implies. “When we recruit for a C-suite position, we look for more than just operational expertise. The Gen X learned to move and transition into a newer world, but they also bring business experience, managerial experience, and more,” she says.
The millennial snowflake generation lacks motivation and resilience. According to a study by the IBM Institute for Business Value, Millennials are not that different from their older colleagues. Around the same number of Millennials (25%) want to make a positive impact on their organisation as Gen X (21%) and Boomers (23%).

So, what does this mean for executive recruitment? As Asseo explains, “Successfully integrating leaders of different generations means actively encouraging cross-generational collaboration. Senior leaders can help by listening and responding to the views, visions and voices the different generations bring, then implementing cross-training to maximise strengths.”

Successfully integrating leaders of different generations means actively encouraging crossgenerational collaboration. Senior leaders can help by listening and responding to the views, visions and voices the different generations bring, then implementing cross-training to maximise strengths.

-Raphael Asseo

Transformational
Leadership

Download the Full Report

CHANGE YOUR MINDSET: SEE PAST THE NUMBER

Asseo also deeply believes that a candidate’s present tense is crucial. “The context we are living in dictates our behaviour and choices. Generations may have different approaches, but often share the same perspective,” he says.

Knowledge comes from all life stages. Dr Carol Dweck’s decades of ground-breaking research into The Growth Mindset has inspired open-minded leaders to push the envelope on cultivating a healthier company culture, in which, regardless of age, every team member is in pursuit of knowledge.

Simple steps can go a long way. Multigenerational advisory boards or resource groups where members exchange ideas and benefit from each other’s unique skill sets can help banish bias and foster inclusivity. Mentorships and reverse mentorships can also offer mutual benefits.

A Gen X could coach a Millennial on valuable soft skills, while a Gen Z might offer an older colleague a social media boot camp. Here at Page Executive, we evaluate a company’s needs from a 360-degree perspective, and actively help senior leaders to navigate unconscious bias.

This often entails recommending a candidate that might not be on a company’s radar but who contributes fresh knowledge, valuable insights and unique experience to their role. Each generation in the workforce brings different skills, novel tools, and fresh ideas that can shake up the status quo.

And as Whitehead explains, “If employers can assemble meaningful groups of employees, see all of them as individuals, and help to improve the workplace experience, their bottom-line business results will truly blossom.”

If employers can assemble meaningful groups of employees, see all of them as individuals, and help to improve the workplace experience, their bottom-line business results will truly blossom.

-Jessica Whitehead

KEY TAKEAWAYS

See the bigger picture: Go beyond generational pigeonholing
Focus on individuals rather than groups. Consider personal merits, characteristics and job fit
Make informed decisions: Consider a candidate’s current context and life stage before their high school yearbook
Encourage intergenerational collaboration in the workplace through meaningful groupings

Contact the Consultants in this Article

Raphael Asseo
Partner
Europe

Jess Whitehead
Partner
United Kingdom

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Executive Talent is on the Move

Anonymous — Fri, 29 May 2020 14:21:35 +0000

Executive Talent is on the Move Anonymous (not verified)

Even before the phrase ‘the war for talent’ came into being in 1997, having the right talent in the right roles was a prime concern facing all executives and HR professionals. And now, identifying and supporting talented individuals is so important (and at the centre of successful enterprise management) it could be a practice area of its own.

HOW PAGE EXECUTIVE ASSESSES LEADERSHIP

At Page Executive we use a specific methodology to better understand the traits leaders bring with them, ensuring at all stages that the analysis follows a strict role-based path, never deviating from linking the personality to the position. Our methodology aims to combine softskill analysis during the interview stage (both in person and with tools) with deep understanding of the technical skills that make-up the position.

Personality factors or more specified dimensions/traits are not visible to us. We translate them in certain behaviours that we can observe. E.g. Planning = providing accurate forecasts, projects plans, structuring your workload, etc. Networking = feeling comfortable approaching new people, etc.

These observable behaviours are assessed through different strategies:

Competency based interviews
Online personality assessments
In person case studies, role plays, and presentations

TYPES OF ASSESSMENTS

In online assessments we ask a person to rate themselves on behaviours statements. From this we assess their score on certain personality scales. From scientific research, we know the strengths and areas to develop, and the advantages and disadvantages for different high/low scores on personality scales. We can then map the required profile for the job with the results/profile of the candidates.

In competency based interviews we ask candidates about previous situations and rate their behaviours on a rating scale to assess their competency score.

In role plays/ case studies candidates are also assessed against competencies on a rating scales by observers.

Personality traits/ behaviours are assessed through different tools/channels. The profile of the candidate reviewed against the requirements of the role/ competencies needed.

POTENTIAL FOR WHAT?

Talent planning has been pushed to make earlier decisions on individuals about their potential for roles farther into the future. This is the basic challenge in identifying high potential talent. What we look for in individuals earlier in their career indicates they have what it takes to be successful and in some cases, may not yet exist, in addition to being an effective component to a leadership team. It pushes us to focus on a different set of individual variables and an ambiguous criterion.

Many organisations spend time and resources on identifying and developing the talent that is needed to achieve business strategies. Talent is gaining in status, critical foundation for business success. Organisations now have formal talent strategies that help them successfully compete for the best talent.

These models should include foundational, growth, and career dimensions. Organisations should keep in mind that many signs of potential might be latent because of the context and situation. Employees who are in a position that is different position with more interesting tasks and challenges and management support, before a conclusion is made about their potential.

Finally, leaders may consider assessing signs of derailment in their employees as part of their strategy for identifying potential. But with that said, the central question remains: potential for what?

---

Questions?

Stephan Surber

Senior Partner
T: T +41 44 224 2235
E: Stephansurber@pageexecutive.com

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Thriving Through Adaptation [8 Trends]

Anonymous — Wed, 13 May 2020 09:02:04 +0000

Thriving Through Adaptation [8 Trends] Anonymous (not verified)

How Financial Services is at the Forefront of Reinvention

In an omni-channel, mobile-led consumer world, today’s C-suite must watch and learn, and adapt nimbly to new ways of interacting with and providing services for their customers.

KEY TAKEAWAYS

All companies need to focus on hiring future leaders, moving towards the new world rather than waiting for it to come knocking at their door. Attracting, engaging and retaining changemakers will prime financial services companies to not only be in the race but to stride ahead in leaps and bounds.

Attract inquisitive, insightful new hires who bring tech know-how, people skills and agility to the table by highlighting the company’s journey towards data & digital
Data is nothing without interpretation and vision. Hire across sectors to engage “financial data scientists” who can tell and sell a story across the whole enterprise
Make discipline crossover the norm not the exception: reward rebel spirit and give feisty finance professionals a say in business direction, and a chance to shine
Show no fear in overhauling processes. Focus on structure and cohesion across time zones and cultures, and consider mentoring to gel a multi-faceted, always-on team that can lead from any level

For example, executives in the financial services sector must ensure that new hires brought in to facilitate organisational change are integrated quickly – while those already in-house need enterprise-wide collaboration to activate new mobile- and technology-driven platforms and solutions.

It’s a tall order, but the bottom-line results will speak for themselves.

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THE CHANGEMAKERS ARE COMING

What makes a company a tech company? Financial services businesses are aping their tech counterparts by offering mobile and ease of access apps to react to changing consumer demands.

So, how are C-suite executives maintaining the values their companies were built on, all the while actively hothousing new innovations? By rapidly importing the skill sets, DNA and language of tech, as their companies transform into digital- and data-driven enterprises. This implies a deep cultural and structural shift in their recruitment focus: where they were once tradition-based and slow to change, they are now hiring CTOs and data scientists, many plucked from technology companies.

The secret to mastering this is to get the right skill sets on board through insightful hiring and a more flexible company culture, as Stephan Surber, Senior Partner and Global Head of the Financial Services Practice Switzerland, says.

“For leaders who love to move fast, there is much to gain; but as the imported skill sets become critically important, the C-suite must welcome in technology and data profiles and, critically, ensure that the company flexes to these people, not the other way around. Finding the right cultural fit becomes paramount, by deep diving into potential executives’ experiences and visions for the future,” he explains.

CULTURE SPEAKS

When companies look to thrive in the brave new world of rapid tech innovation, there needs to be strong leadership at the core of the business. Processes and partnerships need to be upgraded, streamlined and nurtured. What’s more, it is essential for seasoned senior leaders to provide the glue between old and new, offering a link to the methods of the past and a route towards an updated, tech-centred approach to the future.

When hiring new talent, executive search needs to look beyond statistical and numerical abilities and towards a whole new frontier in skill sets, such as critical thinking and tech prowess. This is true for all industries as the multi-polar-world technology created means there is heightened competition for the right profiles.

For leaders who love to move fast, there is much to gain; but as the imported skill sets become critically important, the C-suite must welcome in technology and data profiles and, critically, ensure that the company flexes to these people, not the other way around. Finding the right cultural fit becomes paramount, by deep diving into potential executives’ experiences and visions for the future.

-Stephan Surber

As Surber explains, “Tomorrow’s top talent in financial services will probably come from outside the industry, and will need proven reserves of agility, collaborative mindsets, natural curiosity, a focus on business outcomes, and excellent interpersonal skills.”

Leaders need to break down the traditional silos. The influx of technology into the industry and the resulting insights and digital profiles are transforming teams and shaking up the old modus operandi. Also important are team structures that work on a global level as they help new arrivals to “feel” the influence of the leadership style and vision wherever they start.

What does this mean when placing executives into organisations at the forefront of this change? As Jessy Wong, Partner Asia Pacific, explains, the closeness of the cultural fit becomes even more important if people are to hit the ground running. “Leadership today is about sharing and provoking passion. It’s hiring people for their potential and finding in people the drive to succeed,” she adds.

Leadership today is about sharing and provoking passion. It’s hiring people for their potential and finding in people the drive to succeed.

-Jessy Wong

ROLL WITH THE CHANGES

Financial services executives have a prime opportunity to strengthen the transformation of their companies, and their culture, to reflect the new roles and approaches they have already integrated.

Tomorrow’s top financial services professionals – especially leaders – will need to flex their interpersonal skills to enable and drive business discussions. It might seem like an oxymoron, but the demands of finance 4.0 require a kaleidoscope of skills that include influencing, partnering, listening and storytelling – as well as the pre-requisite number crunching ability

“The market is changing so fast now. In our omni-channel world, businesses need leadership to be responsive – the company can’t afford to wait for a decision – they really need to move on urgent decisions. Competition for the executive that can make those judgement calls is fierce, and with the role of technology unlikely to shrink, it will only intensify,” explains Wong.

The market is changing so fast now. In our omni-channel world, businesses need leadership to be responsive – the company can’t afford to wait for a decision – they really need to move on urgent decisions. Competition for the executive that can make those judgement calls is fierce, and with the role of technology unlikely to shrink, it will only intensify.

-Jessy Wong

Surber agrees: “When the stakes demand real-time action, companies need to be able to act fast and with authority. Wait half a day, and you’ll be judged for your silence. This affects executive search, because we are looking for the people who have the experience and skill set to make accurate decisions.

“Failure to do so risks almost instant irrelevance. It’s one reason I feel that the consultancy model for knowledge-sharing businesses can be successful – there are different specialisations, but a very flat hierarchy. As a result, people are equipped and expected to lead. These profiles are, of course, in high demand,” he adds.

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VENI, VIDI, VICI

According to Gartner, while almost half of global financial services organisations are still at a very early stage of their digital transformation journey, a third of financial services CIOs identified digital as their top business priority for 2019, up by more than 8% on 2018.

There are silver linings for financial leaders: this shift is simultaneously making space for them to rapidly evolve existing roles from a traditional reporting focus towards teams embracing their new business advisory potential.

Data is nothing without keen human insights to unlock it, and the tech revolution offers exciting opportunities for leaders to hire more dynamic and demanding profiles at all levels.

“Ultimately, this demands a flattening of hierarchy, and a philosophy of leading at every level. As executive search experts, we find digitally savvy people that fit the company culture and have the personality to become future leaders,” Surber says.

Ultimately, this demands a flattening of hierarchy, and a philosophy of leading at every level. As executive search experts, we find digitally savvy people that fit the company culture and have the personality to become future leaders.

-Stephan Surber

KEY TAKEAWAYS

Attract inquisitive, insightful new hires who bring tech know-how, people skills and agility to the table by highlighting the company’s journey towards data & digital
Data is nothing without interpretation and vision. Hire across sectors to engage “financial data scientists” who can tell and sell a story across the whole enterprise
Make discipline crossover the norm not the exception: reward rebel spirit and give feisty finance professionals a say in business direction, and a chance to shine
Show no fear in overhauling processes. Focus on structure and cohesion across time zones and cultures, and consider mentoring to gel a multi-faceted, always-on team that can lead from any level

Contact the Consultants in this Article

Stephan Surber
Senior Partner
Europe

Jessy Wong
Partner
Asia Pacific

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Collaboration is Key to Globalising SMEs [8 Trends]

Anonymous — Tue, 21 Apr 2020 11:42:08 +0000

Collaboration is Key to Globalising SMEs [8 Trends] Anonymous (not verified)

How Cooperation Can Make Your Company More Competitive

SMEs rule the world and are a driver of the global economy – and employment. They generate jobs, drive innovation and fuel competitive economies. Despite globalisation and the ongoing digital revolution, only a quarter of manufacturing SMEs fly successfully in markets beyond their own.

KEY TAKEAWAYS

To triumph in a global economy, smart SMEs are transforming their organisations, outlooks and strategies, to level the playing field with larger companies. Partnerships and collaboration are empowering SMEs to not only stand their ground with heftier peers but to leverage certain advantages over them, thanks to their versatility and resourcefulness.

Look before you leap: Adopt a global mindset, do your homework on new markets and factor in contingency plans
Brace for transformation: Be prepared to make sweeping changes to your organisational structure, company culture and behaviour
Focus on the human factors: Skills hiring and culture affect every aspect of your business in a new market
Look for potential collaboration through other enterprises and MNCs to keep costs low and mutual ambitions high

To stay competitive in a lightning-paced global market, SMEs need to spread their wings and open their minds to the international market. However, this takes resources and manning the decks can be complex when aspirations are bigger than budgets.

The ticket to international success lies in collaboration, with other SMEs, or with existing multinationals. This means being enterprising in the truest sense. So, how can executive recruitment help you with top talent through cooperation?

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BEST OF BOTH WORLDS

Taking a small or medium-sized business global is a complex, dynamic process that requires transformation. It implies a major change to a company’s business model, operations, and go-to-market strategy.

According to a 2014 Oxford Economics study of 2,100 SMEs in 21 countries, more than one-third have already engaged in transformation or are planning to do so, while only a third have not engaged in transformation and/or have no plans to do so. The most profitable firms embrace transformation more than their less-profitable peers.

As Christophe Rosset, Global Head of the Industrial & Manufacturing Practice, explains, when it comes to senior talent to lead this transformation, cultural differences are at the centre of the solution. “One of the main challenges is the cultural difference in the countries in which you expand your business,” Rosset says.

Simple terms like ‘working as a team’ may mean something different in China, Japan or the Netherlands. You need to transform your values to the local reality. Your recruitment partner is key in understanding the minutiae of these differences, and how they will play out in new markets.

-Christophe Rosset

“Simple terms like ‘working as a team’ may mean something different in China, Japan or the Netherlands. You need to transform your values to the local reality. Your recruitment partner is key in understanding the minutiae of these differences, and how they will play out in new markets.”

Collaboration among enterprises and their networks are key, whether it’s working alongside SMEs that have experience in a new market, or with those who want to expand to the same market.

How then, does this affect executive recruitment? Hiring the right people and tackling local legislation and local shortfalls of talent in high-demand areas can mean the difference between sink or swim, as Martin O’Doherty, Partner North America, explains. “Moving abroad requires an open mindset, because a team’s cultural norms will be challenged. It implies building a true understanding of an SME’s own business values and of the working culture of the new area and how to make the most of it,” he says.

Pooling resources can be as simple as travelling together to a country, to reduce travel costs, as Rosset explains. “Usually these trips are organised by the chamber of commerce. They invite, for example, 50 SMEs to bring them into contact with specialists in the market, to create potential partnerships.”

COLLABORATION MEANS COLLECTIVE STRENGTH

While collaboration between companies of different sizes helps transfer knowledge and skills, the biggest challenge facing SMEs is how to access additional capital, which frees them up to plan ahead and seize opportunities to grow and diversify.

“I work for many leasing companies in the aerospace industry. They’re all SMEs with 70 to 100 employees who have taken their businesses global. They collaborate with multinational airplane manufacturers like Boeing and Airbus. Around 50% of these planes are bought directly by the airlines. But the other 50% is leased. This is where my clients come in,” explains Ben Wainwright, Associate Partner Asia Pacific.

I work for many leasing companies in the aerospace industry. They’re all SMEs with 70 to 100 employees who have taken their businesses global. They collaborate with multinational airplane manufacturers like Boeing and Airbus. Around 50% of these planes are bought directly by the airlines. But the other 50% is leased. This is where my clients come in.

-Ben Wainwright

The ASEAN region is dedicating significant energy and resources to helping SMEs and Multi-National Corporations (MNCs) to connect with each other. In Singapore, the Committee on the Future Economy sees collaboration between MNCs and SMEs as vital to the country’s growth in the next five to ten years. Vietnam is also implementing measures to support MNC–SME linkages.

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SMALL/MEDIUM FISH, BIG POND

Another key challenge facing SMEs looking to charter new horizons is the human factor. Nine in ten European SMEs run on less than ten team members. But this doesn’t exclude SMEs from establishing operations in multiple countries – if they can focus on what sets them apart from bigger fish.

“It’s crucial for SMEs to set objectives prior to the move and to build in contingency for slippage of time and budget,” says O’Doherty.

Scaling is crucial, and this is where a proficient recruitment partner comes in – as was the case with Foam Solutions, a consumer product and building materials manufacturing business which expanded into the emerging markets of Vietnam and Mexico.

Page Executive worked hand in hand with the company to bring in a plant manager in Canada and a North American president to strengthen its core base, while setting their sights firmly ahead and striding out with security and strategy. SMEs can leverage their versatility to their advantage by relying on partnerships to recruit and retain talent.

SMALL AND LEAN DOESN’T MEAN UNSEEN

Spreading existing resources too thinly can result in disintegration. One effective strategy to free up time, costs and skills is sharing key resources. Many SMEs can’t afford a full-time CFO. Shared CFO services can provide targeted financial expertise on a requirement basis without the salary and overheads that go with a full-time CFO.

To attract and retain qualified local executives, SMEs need to develop competitive compensation packages and benefits programmes based on local standards and customs. Working with a dynamic recruitment specialist can save time, money and headaches.

“Page Executive helps SMEs with the recruitment process in the new market. When a Belgian company wants to expand their business to Spain, our Belgian recruitment consultant collaborates closely with a Spanish colleague, who already knows all the ins and outs of the Spanish job market and the cultural sensitivities,” explains Rosset.

Page Executive helps SMEs with the recruitment process in the new market. When a Belgian company wants to expand their business to Spain, our Belgian recruitment consultant collaborates closely with a Spanish colleague, who already knows all the ins and outs of the Spanish job market and the cultural sensitivities.

-Christophe Rosset

KEY TAKEAWAYS

Look before you leap: Adopt a global mindset, do your homework on new markets and factor in contingency plans
Brace for transformation: Be prepared to make sweeping changes to your organisational structure, company culture and behaviour
Focus on the human factors: Skills hiring and culture affect every aspect of your business in a new market
Look for potential collaboration through other enterprises and MNCs to keep costs low and mutual ambitions high

Contact the Consultants in this Article

Christophe Rosset
Managing Partner
Continental Europe

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Mobile Leadership is Going Local [8 Trends]

Anonymous — Tue, 31 Mar 2020 07:49:29 +0000

Mobile Leadership is Going Local [8 Trends] Anonymous (not verified)

Hiring C-suite Talent: Think Global, Recruit Local

As business complexity, speed, and global reach converge, the need for competent managers to take on cross-border assignments is growing – the number of expat and globally mobile employees is set to surpass one million by 2021, according to a Finaccord study.

KEY TAKEAWAYS

A company’s global mobility programme is vital to support new business growth. When combined with insightful talent management, they can boost financial performance, employee engagement, succession planning and talent retention and bring value to companies everywhere.

Recruiting globally delivers distinctive, dynamic leadership styles, vision and experience, and facilitates vital knowledge transfer and know-how
International assignments can be a fast-track for mobile leaders who want to broaden their portfolio and horizons
Leadership needs to understand and differentiate regional business practices and requirements to ensure cultural fit and long-term impact
The local team needs to be part of the integration process to ensure that members gel wherever they are and wherever they come from

Discerning hiring practitioners are taking a holistic approach to employee engagement, paying close attention to distinctions in customs and requirements across different markets. Global mobility programmes prove to be an essential part of the on-boarding process to ensure that incoming staff and existing teams can address relocation challenges swiftly and effectively.

There are many benefits of talent mobility – skills transfer, increased diversity of senior leadership, and strategy alignment. But with the advancement of technology, remote-working trends, and organisation-wide cost consciousness (and, of course, the drive to accelerate growth), are cross-border assignments for senior executives still valuable?

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LEADERS WITHOUT BORDERS

Generali’s study from 2018 explains that employees are key to companies’ international growth either by spearheading and steering operations in new countries or by helping transfer skills and innovation. One example is Saudi Arabia, where expats with relevant experience and skills are brought in as advisers to local C-suite leaders, to boost skills transfer and localise leadership.

Ronan Coyle, Partner Middle East, explains: “With the major infrastructural projects that are under development in Saudi Arabia, highly competent senior Saudi nationals will be recruited at C-level but then senior and experienced expats will come in as senior advisers, work for two years, the skills transfer happens, then he or she leaves.”

With the major infrastructural projects that are under development in Saudi Arabia, highly competent senior Saudi nationals will be recruited at C-level but then senior and experienced expats will come in as senior advisers, work for two years, the skills transfer happens, then he or she leaves.

-Ronan Coyle

It’s a win-win situation for the company and the imported leader, as Coyle adds. “From an HQ organisational point of view, this ensures that the overarching corporate strategy globally is aligned. The international experience can also be really good for the local candidate’s development, alongside improving the senior leader’s mentorship and succession planning skills.”

WHERE LOCAL INSIGHT MEETS GLOBAL VISION

In Africa, countries like Nigeria, Kenya, Tanzania and Uganda have become attractive relocation markets for senior leaders from America, Canada, and Britain looking for high-potential markets for their next challenge.

“Industries such as mineral extraction, oil and gas production and commodity trading of gold, platinum, renewable energy, alongside the demand for food and agriculture – all of these spaces are new and untapped in Africa, if you compare them to the rest of the world,” says Lucie Collard, Principal Africa.

Once again, this is not about nudging local talent out of the market. African governments are keen to ensure balance and get the best of both worlds. They’re fostering the growth of local leaders and making repatriation a priority by encouraging international investors to have a certain number of local board members and local managers at the senior level, helping to grow the skill sets of local leaders, via support and mentoring.

COMMITMENT IS KEY

Tenure goes hand in hand with long-term impact and is a top priority for companies and recruiters bringing in C-suite leaders from other countries and cultures. But adaptation can be challenging, especially in certain markets, as Jon Goldstein, Senior Partner Southeast Asia & India, explains.

Relocation issues arise not so much from the language barriers but adaptation to local life; the reality is that the people who come in don’t always settle, and companies need to pay greater attention to helping them integrate. Success comes when the culture fit is there, which itself comes from understanding the strategy of ‘localised leadership’ and what that means for the company.

-Jon Goldstein

“Relocation issues arise not so much from the language barriers but adaptation to local life; the reality is that the people who come in don’t always settle, and companies need to pay greater attention to helping them integrate. Success comes when the culture fit is there, which itself comes from understanding the strategy of ‘localised leadership’ and what that means for the company.”

In Southeast Asia, many companies are opting for ‘returnees’ to home countries to work in leadership positions as they believe they have better cultural understanding, provide greater stability in the role, and are more cost-effective.

Ben Wainwright, Associate Partner Asia, says it comes down to a question of fit in terms of language and culture. “Asia as a whole is changing: from being the emerging market, where companies needed to import best practice, in many cases they can now be considered the market leaders, exporting their best practice into the business world.”

Recruiters especially need to exercise cultural sensitivity. As Franck Johnson, Senior Partner Asia Pacific, explains, “There are challenges for all sides of the recruitment dice – hiring into Europe for Asian companies and vice versa, alongside competition for hiring visionary HR and talent teams in-house. It comes down to culture in many cases, insofar as understanding the culture of Asia and Asian companies compared to European ones and being sensitive to that.”

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A PASSPORT TO SUCCESS

Digital transformation is helping to redefine demographic profiles. More Millennials are assuming leadership roles and looking to international assignments as a pathway to career enhancement, personal development – and increasing their value.

Courageous companies are implementing policies and programmes that transform the ways in which people work and propel cross-border collaboration. At the heart of this is trust and flexibility, and the new possibilities the digital world offers leadership, as Coyle explains. “PepsiCo changed their working model so that they no longer have expensive regional leadership hubs populated by expats on all-inclusive expat packages. Most of their regional C-suite leaders are based in their own countries, doing their jobs as local recruits.”

We live in exciting times. Page Executive is working closely with its partners across the globe to help companies find the perfect candidate. Our global programme equips our consultants with multi-market executive hiring experience that drives home the importance of adapting to local cultures, relocation challenges, and delivering in new markets.

“Ultimately, the goal is to place candidates with real global experience who’ve adapted to different cultures and who understand the complex dynamics of international organisations. Not only do we advise on the job brief and organizational alignment but also cultural – that’s our job,” says Coyle.

Ultimately, the goal is to place candidates with real global experience who’ve adapted to different cultures and who understand the complex dynamics of international organisations. Not only do we advise on the job brief and organizational alignment but also cultural – that’s our job.

-Ronan Coyle

KEY TAKEAWAYS

Recruiting globally delivers distinctive, dynamic leadership styles, vision and experience, and facilitates vital knowledge transfer and know-how
International assignments can be a fast-track for mobile leaders who want to broaden their portfolio and horizons
Leadership needs to understand and differentiate regional business practices and requirements to ensure cultural fit and long-term impact
The local team needs to be part of the integration process to ensure that members gel wherever they are and wherever they come from

Contact the Consultants in this Article

Jon Goldstein
Senior Partner
Southeast Asia

Franck Johnson
Senior Partner
South East Asia

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The Digitalized CEO [8 Trends]

Anonymous — Fri, 14 Feb 2020 16:22:59 +0000

The Digitalized CEO [8 Trends] Anonymous (not verified)

Dynamic Change at the Top Table

The digital revolution is blazing, challenging hierarchy, business models and modus operandi. AI, Big Data, Machine Learning and Business Intelligence are at the helm of enterprises large and small, propelling them to become more strategic, customer-oriented and competitive.

KEY TAKEAWAYS

More than sectorial knowledge and network, adaptation and innovation can make or break the CEO in today’s tech-torqued environment. Decision makers and recruiters must look outside the traditional arena for new leadership that doesn’t just follow, but drives, digital transformation.

In today’s world of rapid digital transformation, a successful CEO must embrace self-reinvention and upskilling
Shrewd decision-makers must understand what information is important to perform their job – and what isn’t
Agile organisation relies on more than methods and processes; investing in the right people is crucial
Savvy executive leaders must leverage tech to fulfill business needs, team ambitions and consumer demands

And businesses around the world are finding they need to search outside of their sectors to find the executive leaders with the requisite skills to drive the company forward. With this seismic shift, the CEO must reinvent what they mean to their business by offering an unwavering vision of the future.

How they will challenge the status-quo in their business?

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DIGITAL TRANSFORMATION MEANS DIGITAL OPPORTUNITIES

With data as the new currency, today’s CEOs need the right senior talent in place to interpret and determine the most interesting insights to fit fast-changing business models and generate the biggest investment returns.

This change in company culture, to become more data-driven, requires a change in mindset of current (or potential) leaders. Essentially, the senior leadership team needs to be open to the new opportunities data brings with it.

We know it is crucial to select CEOs with unwavering vision and versatile skill sets, and to surround them with the talent they need to successfully navigate the data jungle while actively driving change.

Nathália Molteni, Associate Partner Latin America, explains the scale of the shift: “To drive innovation and change, CEOs need to be prepared to take their organisations in entirely new directions. This requires a leadership mindset where CEOs are prepared to question long-held assumptions and beliefs – challenging the status quo if this is holding back progress,” she says.

To drive innovation and change, CEOs need to be prepared to take their organisations in entirely new directions. This requires a leadership mindset where CEOs are prepared to question long-held assumptions and beliefs – challenging the status quo if this is holding back progress.

-Nathália Molteni

So, what exactly do these cutting-edge leaders look like, and what skill sets do they bring to the top table?

FACING THE NEW FRONTIER IN LEADERSHIP

One of the most important attributes CEOs can cultivate is agility – as a skill and as an approach to change integration. “Leaders must face the challenge of adjusting their actions to quickly respond to changing customer needs, shifting technology innovations, and the pace of change of competing firms. This means we look at their record in terms of the transformations they have implemented, their entrepreneurial spirit, with focus on their adaptability and technology background, at least as a starting point,” explains Molteni.

The CEO must be the face of change for the whole enterprise, challenging the tradition of the company versus today’s expectations of what a leader is (and should be). It is vital for them to be opportunity-driven, with a deep understanding of how an entrepreneurial mindset will help the company find new opportunities, specifically as the world becomes more customer-centric.

Critical thinking must be coupled with a firm understanding of what information is important to perform their job – and what is not. Stefano Cavaliere, Head of Technology Practice Europe, explains: “In this age of Big Data, where there is more information available for CEOs than ever before, a good leader understands what data should be looked at and acted upon, what should be used to inform a decision, and what data is unnecessary.”

In this age of Big Data, where there is more information available for CEOs than ever before, a good leader understands what data should be looked at and acted upon, what should be used to inform a decision, and what data is unnecessary.

-Stefano Cavaliere

UPSKILLING POTENTIAL FOR PERFORMANCE

A successful organisation relies on more than methods and processes: investing in the right people is crucial. This can mean spreading the net far and wide, beyond industry borders. Employers and recruiters need to keep this top of mind.

“The ability to constantly learn and reinvent is not a given, but demands an open mind, humility, and self-awareness. Nimble, versatile leaders foster this environment to produce the best possible outcomes,” says Molteni.

According to a Deloitte survey of business leaders, 72% say upskilling is the best path to realising workers’ potential, while 63% report that new technology is driving hiring for specific skill sets.

CEOs must adeptly leverage tech and the new skills it brings into their organisation to their advantage, while trusting their personal knowledge and soft skills to guide them.“It is important that data remains a tool for CEOs to include in their decision-making process, coupled with empathy and emotional intelligence to understand, involve and inspire internal and external stakeholders,” says Cavaliere.

MASTERING THE METRICS

From driving industry disruption to equipping their people for a new future of work, the modern CEO must understand how to monitor, measure and master success.

Cavaliere explains that companies are hiring leaders that embody a strong business acumen and a clearly defined strategy, “accompanied by an understanding of what the key metrics of success will be. These form a central part of the management reporting and progress milestones, which inform the success of any new initiatives or strategic directions.”

“As more companies mature through their digital transformation journey, and as access to high-quality data increases, CEOs need to really understand the interactions their business is having with the ecosystem, the market, and their customers’ behaviour to improve their products and service effectiveness. Searching for this type of leader requires deep knowledge of the market and sector they come from,” adds Cavaliere.

As more companies mature through their digital transformation journey, and as access to high-quality data increases, CEOs need to really understand the interactions their business is having with the ecosystem, the market, and their customers’ behaviour to improve their products and service effectiveness. Searching for this type of leader requires deep knowledge of the market and sector they come from.

-Stefano Cavaliere

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A KALEIDOSCOPE OF SKILLS

Leadership has never been so compelling nor complex, requiring CEOs to seek solutions from differing viewpoints, meaning recruiters are being called on to use all six senses to find the right fit for courageous, future-facing companies.

Today’s leaders must cultivate new mindsets and behaviours, upskill their teams to work in new ways and transform their organisations by integrating agility into the design and culture of the entire enterprise.

And their focus should be on rising consumer demand for always-on, performance-based, and integrated solutions. To keep up, CEOs need to continuously evaluate how digital disruption is changing customer behaviour, rethink their customer engagement models, and redesign employees’ roles to form customer success (CS) capabilities – according to Deloitte research.

“Never has there been a more transformative time to be in business. It is only natural that the CEO profile of today looks different. Leaders need to combine a set of almost conflicting attributes: visionary and strategic yet execution-oriented; data-driven and analytical yet creative and innovative; entrepreneurial yet able to rapidly operate at scale on a global stage,” says Molteni.

KEY TAKEAWAYS

In today’s world of rapid digital transformation, a successful CEO must embrace self-reinvention and upskilling
Shrewd decision-makers must understand what information is important to perform their job – and what isn’t
Agile organisation relies on more than methods and processes; investing in the right people is crucial
Savvy executive leaders must leverage tech to fulfill business needs, team ambitions and consumer demands

Contact the Consultants in this Article

Nathália Molteni
Associate Partner
Latin America

Stefano Cavaliere
Associate Partner
Europe

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The Transformational CFO [8 Trends]

Anonymous — Fri, 24 Jan 2020 13:46:08 +0000

The Transformational CFO [8 Trends] Anonymous (not verified)

Worth Their Weight in Gold

The role of the CFO has changed drastically over the past decade.Today’s financial leaders’ remit has broadened, and their profiles have evolved from “number crunchers” into multi-tasking strategic stewards of the CEO’s vision, who simultaneously steer profitability and productivity.

KEY TAKEAWAYS

Today’s CFO is much more than a number cruncher and analyst. As digitalisation and automation reshape the working environment, new skills are increasingly important, in some cases nudging the harder edge of technical prowess to the side. CFOs are being summoned to build trust throughout the organisation. Their transformative efforts are a unifying force between the market and the C-suite.

Financial decision-makers need to embrace disruption that focusses both on the short-term impact, as well as the long-term, to pilot companies to success
In today’s rapidly transforming environment, CFOs must go beyond numbers to develop interpersonal skills, strategic leadership, and digital savvy
CFOs must build trust, addressing current concerns like cybersecurity, while retaining their role as the “conscience” of the business
Savvy leaders should set up collaborative eco-systems to get agile support from the right people, organisation-wide, and deliver maximum effect, while addressing shifting employee demands

Accountability and transparency are more vital than ever. With their finger on the pulse of what drives profit and value creation, the CFO is uniquely positioned to lead change, to be the conscience of the business, and to build trust among shareholders, employees, and clients alike.

Business environments are getting more competitive, and companies are upping their technology and management abilities in order to perform more efficiently.

So, how does all this affect your organisation’s hiring and succession planning for the financial leadership position?

Transformational
Leadership

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THE DESIGN-THINKING CFO

Large-scale organisational change is becoming as common as change itself. In a McKinsey survey, 91% of respondents said their organisations underwent at least one transformation from 2015 to 2018. These results also reveal that the CFO is the second-most-common leader, after the CEO, leading enterprise-wide transformation.

The willingness to embrace disruption is now an unwritten requisite for CFOs. These design thinkers are learning to guide entire organisations through change, to experiment, and to iterate. As IBM explains in Elevate your Enterprise, CFOs are reinventing their companies before competitors make them obsolete, and are using data to interrogate existing environments, creating new contexts, and revealing customer insights.

As boards become more streamlined, the CFO role has broadened. CFOs are increasingly operating in the realm of COOs. A lot of businesses seek CFOs with a wider skill set, including strategic planning and storytelling, alongside a heightened sense of tech prowess – and a companywide vision to fill that vacuum.

-Daniel Yates

As Daniel Yates, Global Head of Finance Practice, explains, “As boards become more streamlined, the CFO role has broadened. CFOs are increasingly operating in the realm of COOs. A lot of businesses seek CFOs with a wider skill set, including strategic planning and storytelling, alongside a heightened sense of tech prowess – and a company-wide vision to fill that vacuum.”

FROM ACCOUNTANT TO STRATEGIC LEADER

As companies embark on their digital metamorphosis, the CFO is emerging as a key strategic partner for companies’ general managers and shareholders.

As Adriana Fraga, Principal Latin America, explains, “There’s no one who knows the numbers of the company better, in terms of EBITDA, costs, margin, profit, or stock market. Today this classic knowledge base needs to be supplemented with softer skills and the ability to lead company-wide strategy on productivity, for example,” she says.

As Yates illustrates, clients today are looking for more from the finance function: they expect someone with a wide base of core competencies. “The modern CFO is expected to be a commercially aware business leader who will help define strategy and drive the performance of an organisation. Certain parts of the CFO role are still a given, but it’s their responsibilities outside of the core finance, control, and compliance aspects that differentiate an average CFO from a good or a great one,” he adds.

So then, can we see the modern CFO as an activator and a collaborator? “Of course,” Jane Zhou, Partner Asia Pacific says. “Teamwork is changing; the CFO is now seen as core contributor, generating ideas to add value to the business. Their know-how in business partnership, investment analysis, risk management, presentation and problem solving, funding, and IPO is key,” she explains.

Teamwork is changing; the CFO is now seen as core contributor, generating ideas to add value to the business. Their knowhow in business partnership, investment analysis, risk management, presentation and problem solving, funding, and IPO is key.

-Jane Zhou

As companies explore the possibility of digitalisation, CFOs often drive these projects – so their ability to understand business strategy, foresee the future, provide insights, and work with stakeholders both internally and externally is the differentiator your executive search partner is looking for.

STEWARDS OF TRUST AND VIABILITY

According to McKinsey, the share of CFOs who say they are responsible for board-engagement activities almost doubled in two years, from 24% in 2016 to 42% in 2018, unsurprisingly as they are the ones in the driving seat when it comes to the company’s financial viability.

As Yates explains, modern organisations are in constant states of flux, and any changemaker with a solid track record is ‘gold dust’. “Someone that has experience and can deliver genuine transformation or change, whether as an interim or as a CFO, will find the world their oyster. Quite a turnaround considering finance was previously the function that wanted the status quo to remain.”

Someone that has experience and can deliver genuine transformation or change, whether as an interim or as a CFO, will find the world their oyster. Quite a turnaround considering finance was previously the function that wanted the status quo to remain.

-Daniel Yates

The modern CFO is charged with establishing and propagating trust – a huge commodity in the digital age – throughout diverse channels. How does the CFO build this trust throughout the business?

Through their laser focus on the financial health of the company, they can use the lens of value creation to challenge the effectiveness of current operating models and shape priorities for future ones.

Transformational
Leadership

Download the Full Report

THE COLLABORATIVE C-SUITE

Positioned at the junction of finance, strategy, IT and compliance, the CFO’s role is more complex and crucial than ever – and gone are the days of working in a bubble.

Fraga explains, “Big multinational companies, especially, are outsourcing transactional work – resulting in smaller teams,” she says. Zhou explains that there are also “discussions around replacing repetitive tasks with technology tools and automated processes to improve efficiency and accuracy”, as it gets harder to retain qualified staff.

Additionally, there is a major focus on increasing the diversity of finance departments in terms of ethnic background – as well as gender balance at the top level, “where the ratio is typically 80/20 and it is not unusual for CFOs to have leadership teams with no women,” says Yates.

CFOs are rising to the challenge of attracting and keeping top talent by offering them opportunities to add real value, alongside innovating to reflect changing employee demands like flexible working, and “consider offering higher salary packages that reflect the need for stronger and broader skill sets,” says Zhou.

KEY TAKEAWAYS

Financial decision-makers need to embrace disruption that focusses both on the short-term impact, as well as the long-term, to pilot companies to success
In today’s rapidly transforming environment, CFOs must go beyond numbers to develop interpersonal skills, strategic leadership, and digital savvy
CFOs must build trust, addressing current concerns like cybersecurity, while retaining their role as the “conscience” of the business
Savvy leaders should set up collaborative eco-systems to get agile support from the right people, organisation-wide, and deliver maximum effect, while addressing shifting employee demands

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Page Executive as a keynote speaker at the CFA conference

Anonymous — Fri, 01 Nov 2019 10:45:42 +0000

Page Executive as a keynote speaker at the CFA conference Anonymous (not verified)

CFA profiles make up around 15-20% of my daily business as an executive consultant and this percentage may rise even more as there is enormous potential for career advancement if you are a CFA today. The push toward a CFA profile comes from two shifts, the shift in the banking landscape, and the shift in the skill sets that a CFA can offer.

Career opportunities are on the rise for CFA's

The banking landscape has significantly professionalized. Private Banking has transitioned from offshore to onshore banking. Banking secrecy has been exchanged for a more transparent structure and regulators in relevant countries are much stricter with compliance and risk restrictions.

Banks need to know where they can hunt, in which territories they can acquire business. They need to better understand their client needs in advance, which is encouraging more CFA candidates to move into sales, business development, and relationship management roles.

A winning CFA profile

CFA profiles have the qualification these Banks or Asset Manager are looking for. They understand the client’s portfolio better, and have the capacity to proactively approach the client and analyse or anticipate potential needs. This unique insight into what the client might need translates into defining the products that the bank should invest in.

The solutions and holistic understanding about the portfolio of a client is not something that can be understood with standard study, rather, it requires a skill set that is mainly found with a CFA education.

But having the required education is not the only factor to ensure a candidate’s successful placement. What I have noticed with many candidates, although they are very valid options is that they undersell themselves.

The landscape has becomes more competitive and your CV really is important. Do not be afraid to show the best of your experience – include data on your track record. If you are a portfolio manager, give indication of the benchmark, or as a Relationship Manager on the asset raised, be as specific as you can.

Your online presence

An ideal CFA candidate is a well-rounded professional. That means not only in your professional life but also in your social media. I had a recent case of a candidate that was in the final round of a job opportunity but was too open-minded to share weekend stories on the social media platform. Needless to say, that person missed out on that opportunity and was rejected.

Employers take into consideration your behavior in social media platforms so be careful how you communicate through LinkedIn, Facebook, etc. Transparency is good but comes with its own risks in today’s climate.

You can improve your profile’s visibility compared to other candidates if you show that you have leadership capabilities through extra-curricular activities. Employers like interesting people with clear hobbies. If you are a president of a tennis club or are a private banker but also in a polo club, it gives an extra information that is valuable for clients.

---

Questions?

Stephan Surber

Senior Partner
T: +41 44 224 2235
E: stephansurber@pageexecutive.com

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Why the CFO is the Guardian of the Big Picture [8 Trends]

Anonymous — Tue, 02 Apr 2019 14:52:47 +0000

Why the CFO is the Guardian of the Big Picture [8 Trends] Anonymous (not verified)

How the balancing act between CEO vision and board reality plays out

Nobody knows how Brexit or other political shockwaves will play out. Nor precisely what impact artificial intelligence (AI) and automation will have on jobs and businesses. But the fact that the future is unpredictable does not justify giving up long- term planning and ambitions for short-term results.

KEY TAKEAWAYS

CFOs and the data insights they bring are key to short and long-term stability, but it requires support from the right people organisation-wide.

The executive board and C-suite relationship is key to a company’s success.
Strong executive teams anticipate board and shareholder concerns, maintain future strategy and avoid conﬂicts at senior level.
CFO is emerging as one of most vital roles in balancing quarterly results with new proftable opportunities.
CFOs affect planning, strategy and performance management by utilising analytical abilities and soft skills.

More than ever, the relationship between the executive board and C-suite is key to success. The board needs to understand the CEO’s vision and believe in it.

How can leaders prepare for the future while dealing with short-term goals and safeguard core business to keep productivity high? How can they adapt to change and integrate it into the strategy developed by management?

THE CFO: EYES OF THE MARKET

The CEO is typically seen as the company’s visionary, responsible for plotting a path to growth and expansion. But the CFO’s guardianship of the big picture is critical. The CFO is a company’s eyes of the market, responsible for financial stability and planning, which contributes directly to the wellbeing of all employees.

As Daniel Yates, Partner and Head of Global Finance Practice, Page Executive, explains: “The CFO forges a bridge between the company’s long-term vision, grounded with the capabilities of the company, and the ebb and ﬂow of the market.”

CFOs need to drive organisational change, especially when it comes to transformation, scaling, data and the digital world. She or he is the key manager to make sure a company is not left behind by a narrow focus on short-term results or too much concentration on long-term goals.

The CFO forges a bridge between the company’s long-term vision, grounded with the capabilities of the company, and the ebb and ﬂow of the market.

Why? Traditionally, CFOs were specialists in numbers and analysis, focusing on treasury, accounting and budgeting. But in recent years, business has seen a shift towards CFOs being more proactive. This has given rise to a more strategic profile, allowing them to affect planning, strategy and performance management in a more profound way, thanks to their analytical abilities and new soft skill competencies the 21st century CFO requires.

This is why Airbnb hired Dave Stephenson, a 17- year veteran of Amazon, as CFO. In the same role within Amazon’s Worldwide Consumer Organisation, he had steered the company through the acquisitions of Whole Foods Market and Zappos. His prior experience is a no-brainer for Airbnb as it looks to transition from a private to public company in 2019. It needs to keep institutional investors and other stockholders on-board as they push for more growth, possibly impacting the balance sheet in the short to medium term.

FRICTION AT BOARD LEVEL

The CFO is a bigger unifying force than ever. And the lessons for what can happen without that unity, when the executive board, C-suite and shareholders do not agree on the big picture vision, are salutary.

One damaging result is a shareholder rebellion, stemming from poor performance, executive bonuses or strategic disagreement with the C-suite. Stockholders may even threaten to reduce the share price through synchronised selling of their holdings.

In 2005 Michael Eisner, then Chairman and CEO of The Walt Disney Company, retired after Walt Disney’s nephew, Roy Disney, led a shareholder revolt. The allegation was that Eisner did not have managerial skills, which would have caused a creative brain drain of the Walt Disney Empire. In 2010, British Petroleum and Shell faced a revolt due to discord in decisions on Canadian policies to deal with tar sands.

According to Yates, some “Institutional shareholders can be negligent in holding administrations accountable because they concentrate on choosing correct actions rather than protecting their interests through their actions.”

Institutional shareholders can be negligent in holding administrations accountable because they concentrate on choosing correct actions rather than protecting their interests through their actions.

WHY GUARDIANSHIP OF THE BIG PICTURE MATTERS

Even the idea of the big picture matters. Where the phrase once meant simply thinking of the long and not just the short term, today it means looking far beyond commercial impact.

B Corporation is an independent assessment form that evaluates the positive impact of companies on society, addressing ideas of governance, sustainability and transparency, considering long-term profitability and long-lasting change for all stakeholders, not just shareholders.

Danone is one major firm that is fast-tracking certification as a B Corp, after announcing in 2017 the push for accreditation for its North American operations.

Why is Danone so eager to get B Corp status across its global operations? Because, as Chairman and CEO Emmanuel Faber explained in a recent LinkedIn article: “B Corp can provide a framework that enables a relevant response to the mounting pressure to measure the non-financial externalities of their impact.”

In the same article, Faber noted that the company syndicated a EUR €2 billion loan from 12 global banks, with interest rates that lower as the company moves forward on its journey towards B Corp status. As Faber said: “The paradigm shift is that these banks have identified B Corp as lowering the beta risk of our credit status.”

Certification like this ultimately compares what a company says to what it does. It offers transparency with regards to standards of social and environmental practices, and fnancial rewards for companies that stay true to their word.

BALANCING THE SHORT AND LONG TERM

The balancing act between quarterly results, constant search for new profitable opportunities and the big (or bigger) picture requires strong leadership. CFO is emerging as one of most vital roles in getting that balance right, because CFOs are well-placed to understand and advocate for the right kind of measurement.

Fernando Andraus, Senior Partner for Page Executive in Latin America, says the point of balance between short and long-term strategic projects lies in which KPIs are used. He insists that “quarterly indicators and annual results are not able to inform economic performance in a real way due to the volatility of these numbers. You need to find KPIs with values that do not change suddenly, such as the value of customers.”

Quarterly indicators and annual results are not able to inform economic performance in a real way due to their volatility. You need KPIs with values that do not change suddenly, such as the value of customers.

TURNING SHORT-TERM LOSS INTO LONG-TERM GAIN

The strategy of making major expansion investments to gain market share and to profit in the future is common in the technology sector. Mobility apps like Uber exemplify this perfectly.

Operating globally, disruptors do not need to make a profit today or in the next quarter, but they must in the medium-term. Early losses are understood as expansion investments only as long as a company is scaling rapid growth.

Uber, valued at almost US $70 billion, invests heavily in new markets (and legal battles) so that they can operate without regulation unlike taxi drivers. That is reﬂected in its strategy: expand to as many locations as possible, have more drivers than the competition, and generate high returns for shareholders in the near future.

Quick actions are necessary, but with caution. There is great risk in decisions that can negatively inﬂuence the future of the company - especially in an environment in constant technological transformation. Uber has suffered major public relations setbacks because the big picture –the brand, not just the business – was arguably neglected in the race to justify early investments.

BALANCE IS KEY

Only a strong C-suite team that anticipates and understands the concerns of the board and shareholders, while maintaining future strategy, can avoid the conﬂict that comes through misunderstandings within the leadership structure.

Businesses need a CFO with one foot in the market and the other in the C-suite, who offers in-depth analysis that can assist in building a lasting legacy for the CEO’s vision and the board’s needs. By keeping innovation and expansion in mind, aligning systems for better reporting and driving performance, CFOs can do more than navigate a company through uncertainty. They can be the counterweight to short-termism and pilot companies to long-term success.

KEY TAKEAWAYS

CFOs and the data insights they bring are key to short and long-term stability, but it requires support from the right people organisation-wide.

The executive board and C-suite relationship is key to a company’s success.
Strong executive teams anticipate board and shareholder concerns, maintain future strategy and avoid conﬂicts at senior level.
CFO is emerging as one of most vital roles in balancing quarterly results with new proftable opportunities.
CFOs affect planning, strategy and performance management by utilising analytical abilities and soft skills.

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Search jobs

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Chief Happiness Officers, Superficial or Revealing? [8 Trends]

Anonymous — Tue, 02 Apr 2019 14:43:30 +0000

Chief Happiness Officers, Superficial or Revealing? [8 Trends] Anonymous (not verified)

The rise of the new C-suite titles and why they matter

At the core of any modern business is a relentless drive for simplicity and productivity in the face of rising complexity. That increasing complexity takes many forms: digitalisation has taken centre stage, artificial intelligence (AI) is beginning to disrupt entire industries and economies, and human skills sets are evolving faster than ever in response. The emergence of new and changing C-suite titles in boardrooms is a natural consequence.

KEY TAKEAWAYS

New job titles bring softer skills sets to an organisation, bridging knowledge gaps and helping enterprise transformation take place.

The CHO role is to help employees understand the meaning behind their work: the purpose.
New executive functions and titles arise in companies that need to be more human and speed up the ﬂow of ideas.
Any new C-level title should be a business partner with a voice at executive board level.
IT is not a support function. Digital and data security are cornerstones of protecting brand identity.

But because today’s era of chief internet evangelists and chief happiness officers (CHO) is unprecedented, it is relevant to ask what is real and what is superficial? How many of these new titles are really needed? Are we inﬂating boardrooms with very specific technical or functional expertise, when all that really matters are leadership and business acumen?

To answer these questions, we need to understand what lies behind the rise of the new C-suite titles. Companies are changing rapidly; becoming more customer-centric, diverse, millennial and empathetic in mind set, and increasingly driven by data that shows specifically what customers and employees want. But one thing has remained constant: the importance of ideas. Something only human, rather than artificial, intelligence can contribute.

And, as Jon Goldstein, Regional Director of Southeast Asia and India, Page Executive, explains, the exploratory trend for new executive functions – regardless of the particular nomenclature – is really just an acknowledgement that companies need to be more human than ever and speed up the ﬂow of ideas.

“The more C-titles a company has, in theory, the faster it can pitch the CEO ideas and act on them,” Goldstein says. “You don’t have hierarchy getting in the way, wanting to control. The new C-titles can take control of ideas, own them, take them directly to the decision maker, speed up processes and be more reactive”.

New C-titles can take control of ideas, own them, take them directly to the decision maker, speed up processes and be more reactive.

NEW ROLES NEED NEW SKILLS

Many of the newer titles seen in the C-suite relate to specific business areas not focused on previously, such as customer experience or diversity, or not on the radar of the top table, namely digital and data roles. The skill squeeze has been laid bare by the rapid growth of technology and the changes it has brought to business.

Goldstein comments: “I placed a Chief Diversity Officer recently. Titles like this are good; they show companies recognise the importance of making the leadership board truly representative. The issue is not what title people have, but whether they have a voice. Many companies have new titles, but are they on the executive board making decisions? Success comes when companies have these titles and allow the people holding them to genuinely inﬂuence business outcomes.”

Titles like [Chief Diversity Officer] are good; they show companies recognise the importance of making the leadership board truly representative. Success comes when companies have these titles and allow the people to inﬂuence business outcomes.

This notion is most clearly demonstrated by looking at the difference between the more established CTO (Chief Technology Officer) and the new breed of CDOs (Chief Digital Officer) and CISOs (Chief Information Security Officer).

CTOs often come from an IT background and look after infrastructure, and so can be less individual, less unique, and perhaps, add less human value in the sense of ideas. On the other hand, CISOs and CDOs are typically more highly paid and perceived as more important than many other CxOs. Why? Because of their value.

Goldstein explains this change as an understanding of the importance of digital roles in business. “Roles like CDO or CISO are, from a data and security perspective, absolute necessities. What you see with this ‘C’ is the importance they have in the company – IT is no longer simply support, they are business partners. The digital function and data security are almost more important than your product, because how you protect yourself secures the identity of your brand.”

HAPPINESS IS A DRIVING FORCE

In a similar vein, roles like Chief Privacy Officer and Chief Transformation Officer can be more clearly understood to have a basis in contemporary business need. But what about happiness? Chade-Meng Tan (Google), Alexander Kjerulf (WooHoo Inc), and Laurence Vanhée (Belgian Social Security Minister) all hold or have held the title of CHO.

What skill sets and performance indicators did they bring to their companies and countries? Their focus on employee wellbeing is easily quantifiable in terms of decreased turnover, burnout, absenteeism and other measurable factors. The focus on happiness is also a direct counterbalance to other management techniques popularised in the ‘80s and ‘90s, such as activity-based costing.

So while it can sound superficial, largely because it is unfamiliar and focused on a human emotion rather a company function, the thinking behind a CHO role is, in fact, far more profound.

The point of a CHO is to create a place for humans in a system not made for them.

As Alexander Kjerulf, founder and CHO of WooHoo Inc explains, the role of the happiness officer is, in itself, transformational and very grounded in the reality of improving retention and employee feeling.

“No job is perfect and only creates positive reactions, but research indicates to thrive, humans require positive emotions over negative,” Kjerulf says. “Positive emotions drive employee loyalty more than traditional retention tactics. Basically, if your job makes you happy you will stay longer, even if you could leave for a better salary elsewhere.

“Happiness is an inspiring term compared to engagement or wellbeing; it’s relatable. Researchers use happiness when talking in layman’s terms, because everyone understands it. No expert definitions are needed because you know if you are happy at work,” Kjerulf explains.

THE TRANSFORMATIONAL OFFICERS

From a manufacturing perspective, transformation involves the whole company. It needs leaders that can deliver this change, ensure the workforce understand it, and that the company can profit as a result. As Goldstein explains, “CTOs are in manufacturing companies to implement operations change. Why? Because they need to become an ‘Internet of Things’ producer, an automated and extremely efficient production hub.

“However, many companies don’t want change and are scared of implementing it. This is prime CTO territory, when a company recognises there is unused capacity and needs to unleash it.”

Many companies don’t want change and are scared of implementing it. This is prime CTO territory, when a company recognises there is unused capacity and needs to unleash it.

The trend for expanding the C-suite seems to be grounded in a logical, strategic assessment of contemporary commercial reality. But it would be foolish not to acknowledge the very real risk of title inﬂation.

The C-suite team needs to be a business partner, bringing leadership as well as operational expertise to the company leadership. So, how grounded in reality is, to take one popular new example, a Chief Scrum Master (CSM)? Although the title presents the role as serious, is this really a glorified team leader? Do CSMs bring leadership and additional value across the whole enterprise?

In terms of skills, the CHO brings existing skills from the top table to the role, but with a new mandate: to help employees understand the meaning behind their work, the purpose.

As Kjerulf points out: “The CHO job is both inspirational and practical. CHOs can be anyone, often it’s someone from HR, but at a client in Denmark, it’s the Head of Legal. So it is not the CHO’s job to run around making people happy all the time. It’s a project manager role, planning initiatives to make people happier – such as training, events, celebrations – activities that help people see the purpose of what they do.”

This is crucial. Purpose is increasingly important in an era where people must reassert their primacy over AI, in which millennials are set to become the dominant demographic in terms of workforce, leadership and customer base.

BRIDGING GAPS IN AN ENTERPRISE

In the end, the growth of new nomenclatures in the C-suite points to many things. There is growing diversity in the workforce in general and this needs to be reﬂected at the top. Critical stakeholder pressures, such as accountability and threats to organisational reputation, require C-level leadership. Technology has led to greater uncertainty thanks to disruptors and changing customer demands.

So, these new roles are there to help bridge gaps in an enterprise, integrate silos and ensure cross-functional work takes hold. They are the forefront of adaptability.

As Goldstein concludes, “Any role with a C-level title – HR, Technology, Data, and so on – has to be a business partner. The requirements are much more than for a job, you can’t just tour guide.

“If a business can invest in the function and make people more engaged, happier and productive – driving revenue and improving the bottom line – that is the definition of good leadership.”

Any role with a C-level title has to be a business partner. You can’t just tour guide. If business invests in the function, making people more engaged, happier and productive... that is the definition of good leadership.

KEY TAKEAWAYS

New job titles bring softer skills sets to an organisation, bridging knowledge gaps and helping enterprise transformation take place.

The CHO role is to help employees understand the meaning behind their work: the purpose.
New executive functions and titles arise in companies that need to be more human and speed up the ﬂow of ideas.
Any new C-level title should be a business partner with a voice at executive board level.
IT is not a support function. Digital and data security are cornerstones of protecting brand identity.

The Eight Executive Trends are already in its 4th edition. If you enjoyed reading, access all previous articles by clicking here: Executive Trends

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Putting Mental Health Centre Stage [8 Trends]

Anonymous — Mon, 01 Apr 2019 21:11:55 +0000

Putting Mental Health Centre Stage [8 Trends] Anonymous (not verified)

Why empathy and understanding has never been more important

Mental illness affects more than 300 million people globally. Leaders who adapt to educate, support and accept mental illness can avoid significant expenditure and better retain employees, vital when the costs of mental health for businesses rose to US $246 billion globally in 2017.

KEY TAKEAWAYS

Businesses that create supportive people-centred cultures reduce the effects of mental health illness, improving enterprise performance.

Employees avoid talking about mental health issues for fear of negatively impacting their career and being judged by colleagues.
Seniority may be linked to depression. Executives are at twice the risk of suffering from mental health issues.
Company culture needs to express trust, acceptance and openness.
Economic benefits behind an open approach to mental health include ROI reaching 400% in some cases.
Established company policies and training.

At a time when societies and governments are thinking about how to harness the rise of technology such as artificial intelligence (AI) while dealing with the threat of job automation, it is vital for businesses to become ever more human in terms of their understanding and empathy.

The importance of nurturing workplace mental health has increased in recent years, as has the scrutiny on business leaders when it comes to having robust support systems and clear policies.

But how well equipped are organisations to offer this support? Are senior leaders themselves doing enough to look after their own mental health?

Workplace Support Networks

According to the UK-based Mental Health Foundation, 86% of employees believe their job and the act of being at work are important for their mental health. This highlights the need for a supportive company culture that helps make any problems visible and better understood. And that should come from the top down. Although C-suite executives should lead by example, it is important to remember mental illness does not discriminate by level of seniority.

People with responsibility and the pressure to set an example have an even higher risk of suffering from mental illness. Business in the Community’s Mental Health at Work report says, “authority may be linked with depression and CEOs may be at twice the risk of the general public.”

Authority may be linked with depression and CEOs may be at twice the risk of the general public.

Managing Mental Health in the Workplace

Executives and employees suffer the effects of mental illness, so why are people not talking about it? UK charity Mind’s 2018 study revealed that 50% of employees who experienced poor mental health spoke to their employer about it. But PageGroup research shows that, of employees who reached out, one in five felt misunderstood and no better off after talking to their manager about their mental health.

While half of mental illness sufferers talk to their managers about their problems, those who do are often reaching out to someone without the experience to help them. This highlights the need for education on mental health and training for managers to help recognise and respond to employees’ mental health concerns.

Companies like RBS and Unilever offer training to help managers identify signs of mental health distress so they can connect employees with treatment programmes. Many companies have incorporated telemedicine technology for employees, which allows people to access healthcare remotely though live video. This means employees can speak to specialists when necessary, including psychologists.

Fighting Stigma

There is a reluctance to talk about mental health in the workplace, which has contributed to an increased presenteeism (employees working when sick, injured, fatigued, or below normal productivity). In Japan, the costs of presenteeism due to mental health issues reaches US $14 billion per year, and affects almost 22% of the working population. In the United States, the only advanced economy that doesn’t guarantee paid vacation time, this cost represents US $225.8 billion annually.

PageGroup research found that people think talking about mental health will hamper their career (36%), leave them ostracised (20%) and reflect badly on their ability to do their job properly (34%). Many felt their colleagues would judge them for talking about their condition (52%).

“HR directors should own the wellbeing strategy of an organisation. They are responsible for the strategy, but the responsibility to push the agenda and support the programme sits with all senior leaders,” Jessica Whitehead, Partner and Head of HR Practice, Page Executive, explains. “A key aspect is strong communication channels, to ensure conversations are being had about mental health.”

HR directors own the wellbeing strategy, but the responsibility to push and support it sits with senior leaders. Strong communication channels are key to ensure conversations about mental health happen.

Some companies are battling the stigma behind mental illness. Barclay’s launched This is Me, where employees shared elements of their personal life, touching upon mental health issues like depression, personality disorders and anxiety. The campaign was so successful in educating people that other companies launched their own versions, reaching people from the UK, US and South Africa.

Top-level professionals often work excessive hours and have limited days off, meaning they have less time to access support to manage their own mental wellbeing. Andrew Berrie, Time to Change Employer Programme Manager at Mind, explains that CEOs need to be more open about their own problems, as this will cascade down.

“One of the biggest challenges for CEOs is to accept the advice that is now being shared with employees as part of corporate wellbeing strategies – don’t suffer alone, learn to manage your stress, understand that depression is common and treatable, maintain a balanced life and do things to boost your wellbeing,” Berrie explains.

Arianna Huffington, Huffington Post founder and CEO of THRIVE Global, is a public advocate for the management of mental health. Influenced by her own experiences, she believes in the power of mental health for a more “productive, inspired, and joyful life.” Her company, Thrive Global, offers a platform for open discussion of corporate and consumer wellbeing.

A Supportive Company Culture

To drive the change surrounding mental health in the workplace, businesses should build cultures of trust, acceptance and openness, as this makes a positive difference and empowers people to develop in their roles.

“Company culture is vital in supporting employees overcoming stressful times. Personal circumstances often impact performance at work, particularly when faced with a difficult situation or tough period,” Simon Nolan, Senior Partner and Head of Consumer Practice, Page Executive highlights.

Company culture is vital in supporting employees overcoming stressful times. Personal circumstances often impact performance at work.

“Over the last 10 years, we have seen a shift towards companies providing flexible working environments,” Nolan says. “Talented professionals seek companies that provide flexible, family-friendly working practices.”

Diverse, Inclusive and Inspiring Leaders

Leadership needs to start the conversation shift, encouraging open communication between employees and management. The economic benefits of an open approach to mental health in the workplace are plain to see: a WHO study into mental health treatment and productivity found that every US $1 invested in care programmes resulted in a US $4 improvement in health and productivity.

As Sarah Kirk, Global Diversity and Inclusion Director at PageGroup, explains: “Businesses simply have to remember the vital role that senior leadership plays in driving inclusive cultures and destigmatising mental health problems. Employees can benefit from directly hearing senior executives talk about their career journeys and vision for an inclusive workplace.”

Employees benefit from directly hearing senior executives talk about their career journeys and vision for an inclusive workplace.

Creating a culture of openness and trust is crucial, and using your leadership team to do so is powerful. By being more educated, supportive and open, businesses can transform the issue of mental illness into a platform with life-changing impact and long-term payoff.

From now on businesses that succeed in a world fuelled and disrupted by technology will be those that learn to make the most of human intelligence. That begins with keeping the mind of every employee healthy.

KEY TAKEAWAYS

Businesses that create supportive people-centred cultures reduce the effects of mental health illness, improving enterprise performance.

Employees avoid talking about mental health issues for fear of negatively impacting their career and being judged by colleagues.
Seniority may be linked to depression. Executives are at twice the risk of suffering from mental health issues.
Company culture needs to express trust, acceptance and openness.
Economic benefits behind an open approach to mental health include ROI reaching 400% in some cases.
Established company policies and training.

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Building Tomorrow's Leaders [8 Trends]

Anonymous — Tue, 12 Feb 2019 10:23:25 +0000

Building Tomorrow's Leaders [8 Trends] Anonymous (not verified)

Harnessing the value-based millennial mindset

Welcome to the second article of our yearly publication, Eight Executive Trends: Augmented Leadership, Page Executive’s view into the future for global business leaders. The trends explore the concerns, opportunities and challenges that business leaders around the world may face during 2019.

KEY TAKEAWAYS

Millennials are making workplaces more human by demanding more ﬂexibility, bringing their values into play and harnessing the power of feedback.

Millennials will soon be senior leaders: the implications will be transformative.
China, India and Japan are seeing the biggest inﬂux of millennial managers.
Companies need to convey their employer value proposition to attract talent.
Companies should blend forward-thinking strategy and tried-and-tested tactics.
Mentoring programmes, open communication and job fulfilment are keys to engaging younger generations.

Millennials are coming of age as an employee demographic. Already passing Baby Boomers and Generation X as a share of the workforce in some countries, they will comprise 50% of the global workforce by 2020, according to research by PWC.

Millennials are taking their place as tomorrow’s senior leaders. The implications will be transformative.

This is a generation of contradictions. Academically tested and measured throughout school life more intensely than any previous cohort; yet also taught that participation and effort count at least as much as winning. Stereotyped as shallow or overly interested in superficial interactions on social media, while sweepingly labelled as snowﬂakes for apparently caring too much about issues like climate change and equality.

Millennials reached adulthood during the global recession and entered a workforce changed by the pressures of globalisation and the financial crash. Things have not become any easier: they now find themselves caught in the currents of historic technological shifts that affect all areas of business.

Beyond the lazy stereotyping, there has been plenty of serious analysis of how the values of this generation – for example, their desire for ﬂexible working practices, less rigid corporate structures and meaningful work – will impact corporate thinking and practice. This is a generation now moving into management and affecting organisational structures.

In terms of management positions, research from EY found that, globally, 62% of millennial employees manage the work of others in some form. In China, this number is significantly higher at 90%, highlighting that, while the rapid rise of millennials to the top is a global phenomenon, Asia is leading this charge, thanks also to India (85% managing the work of others) and Japan (85%).

Millennials represent not just a powerful demographic force, but a uniquely human resource: driven by deeply-held values, an instinct for purpose-led work and natural empathy. So, the question for today’s C-suite should be less how to adapt to this misunderstood generation and more how to harness it. The question is how to forge these new managers into senior ones, able to turn the challenges of today into the sustainable results (including profits) of tomorrow.

A Different Approach to Management

Although money remains, as ever, a motivator, studies such as KPMG’s Meet the Millennials demonstrate clearly that this generation places more importance on impact and meaningful work than on financial gain.

Expectation and motivation of what [millennials] want to achieve from their careers has changed. It’s less about money and more experiential. They care about their employer’s purpose.

Simon Nolan, Senior Partner and Head of Global Consumer Practice, Page Executive, says that “the expectation and overall motivation of what they want to achieve from their careers has changed. It’s less about money and much more experiential. They care about their employer’s purpose.”

To attract the best managerial talent, the responsibility lies with companies to ensure they convey their employer value proposition to millennials (alongside the rest of their workforce), while actively managing their reputation. Millennial managers, like their peers, want to see the effect of their actions. They prefer and demand constant communication and informal feedback to formal, infrequent performance reviews.

At the same time, millennials need to be fulfilled by the work that they do. Job satisfaction is very important to this generation and they are rarely willing to settle or stay in an unsatisfactory position. Managers need to create structures that work best for them and their teams’ fulfilment, such as mentoring to retain the best employees. Because, as EY highlights in its study, a lack of mentoring is a key reason for millennials deciding to leave.

PWC’s research supports this, as it explains the ability to quickly progress to a managerial level role is more important to millennials in a company than competitive salaries (52% vs 44%), emphasising that meaning and clear purpose are crucial psychological drivers. These findings explain one of the more frequently cited theories of millennial attitudes – that they are less loyal than previous generations – with one in four expecting to have more than six employers during a career, compared with just one in ten in 2008.

All of this poses a vital question: by aiming for management positions, might this generation be climbing the ladder quickly so they can bring about the positive changes they believe should be available and applicable to all employees?

Work-Life Blending

Twenty years ago, Generation X managers developed and popularised the concept of work-life balance, a phrase that quickly entered the Oxford English Dictionary.

Today, millennials are refining that concept and taking ownership of what it truly means in practice. The concept of working outside of office hours has not suddenly become anathema, but there is a clear expectation of a quid pro quo. As further research by KPMG shows, there needs to be a common-sense trade-off that allows time for personal life and obligations during official work hours – a pragmatic and honest expectation that explains their preference and propensity for ﬂexible working options.

Nolan sounds a note of caution here, as ﬂexible working is always a balancing act between team-building and freedom of location: “While it is important to empower employees with ﬂexiwork benefits, we need to be careful not to lose the value of in-person, in-office engagements. If you want a team to truly grow together and prosper, you need them to perform in close physical proximity to each other.”

If you want a team to grow together and prosper, you need them to perform in close physical proximity to each other.

The Michael Page Working Life study in Europe found employees of all generations desire a better work-life balance and less intrusion into their private life from work. Even if we are not familiar with the statistics, we likely all recognise the picture they paint: 62% of Europeans in employment check work emails outside of office hours every weekday, along with 57% who answer work-related calls. Nearly half of workers say that out-of-office communication negatively affects their work-life balance, while 40% of Europeans still have no access to remote working at all.

A more flexible, sustainable and productive blend of work and life is clearly needed. Millennial managers will both expect it, and expect to deliver it.

Relationship Management is Key

For millennials, the traditional hierarchical structure that Baby Boomers or Generation X-ers work or worked under is simply outdated.

They believe open, honest communication across experience levels is more valuable than a formal chain of command. Instinctively attuned to the impact of relationship power-dynamics on culture and workﬂow, managers of this most empathetic of generations want more communication and less bureaucracy in the workplace.

US-based shoe and clothing e-retailer, Zappos, adopted this ﬂattening of hierarchy when they instituted holacracy in their organisation. Their aim was to empower creative collaboration to support new initiatives across all roles, while reaping the cost-saving benefits of needing fewer employees, since all roles expanded.

But this is not yet the norm. “We’ve been accustomed to this idea of upward mobility at work for decades,” Nolan expounds. “I haven’t seen much of a move away from that in most companies. Even a company as progressive as Amazon still has a hierarchal organisation structure.”

I haven’t seen much of a move away from [upward mobility] in most companies.

The wide-scale adoption of ﬂatter hierarchies will not happen overnight – old habits die hard – but companies that explore communication-led and bureaucracy-light structures will undoubtedly be the first to harness the millennial mindset.

Millennials need to see this kind of positivity not just in their structures and leadership teams, but also in the focus of the company itself. The 2018 Deloitte Millennial Survey shows that while they see business leaders as generally positive (44%), these leaders remain some way behind NGO leadership (59% positive), highlighting that the purpose of the company and leadership they work for is vital.

Looking Forward

There is no right answer to the question of how to position a company to harness millennials’ mindset, in terms of building the senior leaders of tomorrow. The best approach may be a blend of forward-thinking strategy and tried-and-tested tactics. Companies need to take the time and effort to understand the research that has been done into this generation, to properly understand the values that drive millennial managers.

The next step is to consider how those values can be harnessed to respond to the challenges that are coming, such as AI and automation. By ignoring the stereotypes about this generation, it is possible to see millennials as the most human of human resources. Complex, deep, shaped by contradictions – and powerfully placed to build truly human organisations, focused on what employees, customers and stakeholders want and need.

All of us should be excited about that future and what it will look like.

KEY TAKEAWAYS

Millennials are making workplaces more human by demanding more ﬂexibility, bringing their values into play and harnessing the power of feedback

Millennials will soon be senior leaders: the implications will be transformative.
China, India and Japan are seeing the biggest inﬂux of millennial managers.
Companies need to convey their employer value proposition to attract talent.
Companies should blend forward-thinking strategy and tried-and-tested tactics.
Mentoring programmes, open communication and job fulfilment are keys to engaging younger generations.

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Search jobs

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Human Organisation Through Digital Transformation [8 Trends]

Anonymous — Mon, 28 Jan 2019 14:37:24 +0000

Human Organisation Through Digital Transformation [8 Trends] Anonymous (not verified)

How technology is elevating people’s potential

Welcome to the first article of our yearly publication, Eight Executive Trends: Augmented Leadership, Page Executive’s view into the future for global business leaders. The trends explore the concerns, opportunities and challenges that business leaders around the world may face during 2019.

KEY TAKEAWAYS

Used effectively, machines enable people to focus their creativity on the human-centric elements of their jobs and automate repetitive tasks.

Many global executives feel their companies are falling behind, with no developed strategy for digital transformation.
Businesses need to decide whether to be digital transformation pioneers, early adopters or followers.
The key to digital transformation lies in treating data as an asset.
Data from automation, AI and chatbot technology will help reduce costs and improve processes.

Technology is changing faster and businesses are reaping the benefits. Rather than a unique phenomenon, the digital revolution is actually a growing wave of technical disruptions to communication and interaction everywhere.

Effective chief executive officers understand the need to lead their business productively through their digital transformation and instead of passively adapting to the changes, proactively develop the skills and vision to take advantage of them.

The most effective chief information officers will navigate the rapidly approaching talent shortage and implement the technology necessary to add value. The big question for every C-suite is: does the rest of the team have the skills required for this task and do they recognise what’s truly at stake?

Who will lead the transformation?

According to a study by Forrester, more than 60% of global executives believe their company is falling behind on digital transformation and is not doing enough to prepare for the future. Forrester predicts that around 20% of CEOs will put their company at risk by not acting on digital transformation. Correspondingly, a Commvault study shows a high number (around 40%) of companies have not developed a cogent strategy for digital transformation.

These companies are missing an opportunity, according to Fernando Andraus, Senior Partner for Latin America and Head of Global ICT Practice, Page Executive: “Technology is vital for cost reduction and process improvement, as well as for new ways of serving clients and managing teams. This generates data to better understand client and team needs and behaviours.”

Technology is vital for cost reduction and process improvement, as well as for new ways of serving clients and managing teams.

Jeanne Ross, Director at MIT School’s Centre for Information Systems Research, agrees that the key to a company’s digital transformation lies in treating data as an asset and using technology to construct a platform consisting of data, people and processes. Ross believes that data allows us to understand and better serve customers, and that leaders must “stay focused on what’s going to drive the most value, what’s the most important thing to do, what you can pull off.”

It comes down to clear leadership, Fernando Andraus points out: “When setting up a strategy for the transformation process, CEOs and CIOs should ask themselves whether they want to be pioneers, early adopters or followers for these new technologies.”

The barrier to effective leadership, action and transformation is often fear: in much of the general discourse, digital and technology are used interchangeably with AI and automation, which can lead to misconceptions and misplaced anxieties.

As technology shifts, so does responsibility

In many industries, such as construction, logistics and manufacturing, automation and artificial intelligence are replacing lower-skill jobs. People previously in these positions need managerial and technical training to oversee operations conducted by machines. The European Commission warns that a shortfall of 825,000 workers with the requisite digital managerial and technical skills will emerge by 2020, meaning investment in skills is urgently needed today.

This does not mean that everybody needs programming skills, but that the C-suite must facilitate collaboration between teams. Training and collaboration are pushing digital transformation onwards, meaning departmental silos will cease to exist. In a disrupted future, it makes more sense to set up dynamic offices and adapt to project-based work.

Chatbots are primed to take on customer-facing roles, although currently limited in what they can do, with humans necessary for complex tasks and to supervise the digital agent. IT professionals are needed for technical issues, maintenance and operational improvements suggested by the human controller. Gartner predicts that “by 2020, 20% of companies will dedicate workers to monitor and guide neural networks,” which again poses the question: where are these workers coming from?

As organisations rely more on data, so senior leadership needs to view it not as a necessity, but as a strategic asset for the success of their business. Commvault explain that more than 50% of participants see the key for success in “better data collection and management”, as well as “new tools to analyse increasingly sophisticated data.”

Hand in hand: customer and employee experience

The CIO needs a clear vision with team goals that satisfy the customer, retain talent and mirror the overall leadership strategy. IT professionals need to know they are working towards a common objective and developing disruptive tech for the customer that fulfils business goals.

This work is, by definition, meaningful and transformative, with results measured by its impact on business. Automation plays a big part in this development, because employees will have more time to think and act on creative solutions, as the PWC 2016 Industry 4.0 study explains. Besides machine learning and artificial intelligence, influencing and relational soft skills will be highly in demand.

We expect CIOs to lead the transformation process together with the CEO. However, Fernando Andraus warns us that “CIOs sometimes perceive these new technologies as potential sources for cost reduction and process automation, rather than business transformation tools. To change the mindset, it is key to have a deep understanding of the company’s business model and industry trends.”

CIOs perceive new technologies as potential sources for cost reduction and process automation, rather than business transformation tools.

This is a clear shift in focus. Until recently, companies concentrated on the product and to a lesser extent, the customer experience (CX). While employees focus on CX, CIOs need to look closer at their employees’ experience in the organisation. Fernando Andraus sees the client and employee experience walking hand in hand, and a clear opportunity for the C-suite: “IT tools that are mainly designed to learn about client experiences and needs but can be used and adapted to have the same approach for employees.”

Machines will make us more human again

CIOs do not need deep technical knowledge about new technologies, but they do require a clear vision of business needs and the possibilities technology presents. It is, after all, up to the CIO to choose the right tool for the right team at the right time, because as technology leader for the company, they have the ability and mandate to improve adoption and acceptance.

“The question is, ‘What engagement is expected from clients and employees regarding the use of these new technologies?’” says Andraus. “Sometimes, senior management has a strong belief in transformation technology. Its success, however, depends on its importance to clients and the employees affected by it.”

Sometimes senior management has a strong belief in transformation technology. Its success, however, depends on its importance to clients and employees affected by it.

It benefits us all to adopt a more pragmatic stance on what digital technology ultimately is – a tool of incredible potential to increase productivity – and what AI really means: the automation not of jobs but of tasks.

Companies in which leadership puts a clear strategy in place, based on knowledge rather than fear, and harnesses that reality will position themselves to become more human than artificial intelligence can ever be. As a result they will be ideally placed to profit from providing value to people: namely their customers and employees.

Digital transformation is about bringing that all together. A true digital leader connects all the infrastructure, professional and cultural aspects of a business to keep employees happy, helping them collaborate to do more meaningful work.

That, ultimately and inevitably, will make customers happy.

KEY TAKEAWAYS

Used effectively, machines enable people to focus their creativity on the human-centric elements of their jobs and automate repetitive tasks.

Many global executives feel their companies are falling behind, with no developed strategy for digital transformation.
Businesses need to decide whether to be digital transformation pioneers, early adopters or followers.
The key to digital transformation lies in treating data as an asset.
Data from automation, AI and chatbot technology will help reduce costs and improve processes.

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The rise of the social CEO [8 Trends]

Anonymous — Fri, 09 Mar 2018 10:47:05 +0000

The rise of the social CEO [8 Trends] Anonymous (not verified)

To get ahead and stay ahead, today's leaders need to make the right type of connections

A social media presence driven by the CEO is becoming a critical tool in the battle to turn customers and employees into advocates. Led well, going social can overcome the restrictions some online platforms are placing on branded content, and boost sales performance too. Here's how to get started.

Search for alignment

In today’s aggressive markets, leading companies are discovering that the best talent is attracted to employers who not only represent a logical career move in terms of compensation and benefits, but who also feel right by offering a close fit with their values.

The implication for the CEO is clear, according to PageGroup Executive Board Director Gary James: “Positive results now take place within positive company cultures. There’s an expectation among people entering into the workforce that their work won’t be just about showing up every day. Increasingly, work also has to offer us a sense of belonging.”

Increasingly, work also has to offer us a sense of belonging.

Gary James, Executive Board Director, PageGroup

This sense of belonging applies equally to customers, whose alignment with a brand’s cause requires constant reinforcement. Customers will show most loyalty to those brands where there’s an emotional connection, a bond that goes beyond functionality or value for money. When this works well, they may even go on to become champions for the brand.

With customers – and prospective employees – becoming ever more brand-sceptical and increasingly immune to hard-sell tactics, many CEOs choose avenues such as social media to present a less sanitised and more people-oriented view of the characters and issues driving their companies.

The CEO as social media trailblazer

The most visible CEOs in the marketplace are clearly masters of social media. Popular for his columns on LinkedIn, Richard Branson personally checks social channels every morning. Meanwhile Air Asia’s Tony Fernandes has 1.5 million Twitter followers, and gained considerable praise for his open approach following the loss of AirAsia Indonesia flight QZ8501 in 2014.

The most visible CEOs in the marketplace are clearly masters of social media.

Using social channels has been one of the weapons in the armoury of Microsoft CEO Satya Nadella, who took over the helm in 2014. In three and a half years, the tech giant saw its market value leap by $250 billion – a transformative journey described in his 2017 book ‘Hit Refresh’.

Many responded to Satya Nadella’s personal account of his initial struggles coping with his son’s severe cerebral palsy, which ultimately taught him the value of empathy. Elsewhere, he has written of the importance of empathy to the process of innovation within a company.

Yet what about situations where regulations restrict a leader from speaking freely? To overcome internal resistance, there needs to be an understanding between the company’s social media advocates and its compliance or legal team about what will and will not be shared. Social media should not be about posting financial results; rather it’s an opportunity to show the company’s human side and give it a personality.

Stronger social performers

Even in industries with a lower profile, CEO engagement through social can have a demonstrable boost to revenues. In a survey of the Australian financial services sector, Hootsuite found that organisations embracing social were 51% more likely to reach their quota – while 78% of social sellers outperformed peers who didn’t engage in social media.

You might think that such examples would no longer be the exception to the rule in business. Yet despite the inherent benefits of utilising social media, it is surprising to find that many Fortune 500 CEOs still have no properly curated social media presence.

So what does an engaged company look like? According to Forbes’ report on the top 50 socially engaged companies, brands like Amazon, Google and Starbucks are leading the way in terms of social engagement – matched by annual growth rates of between 11% and 27%. Forbes’ found that 93% of the list’s executives understood the importance of engagement, with 88% of those companies leading in terms of customer experience having created a position responsible for customer engagement in the past year.

On the flip side, disengaged employees can be extremely detrimental to output – resulting in high rates of absenteeism, a lack of brand loyalty and lost productivity. A report notes that in Germany, 84% of workers are disengaged with their work – while absenteeism was 67% higher among actively disengaged employees.

Mobilising your people

Advocacy works better when its start at the top. The Hootsuite research suggests that over 40% of staff social media performance can be attributed to the activities of executives.

Having modelled the way forward, wise CEOs will then invest in social advocate training so that their employees can join the social media conversation. They will provide clear policies and guidelines to help keep their workforce on message in supporting the company’s objectives.

For PageGroup, building a successful social engagement platform has meant its frontline team shares quality content with ease. Dubbed Page Social, the platform netted the LinkedIn award for Most Socially Engaged Recruiter in 2017.

Group Marketing Director Eamon Collins explains, “It works through a mixture of serving our consultants a constant feed of content to share on trending topics across our disciplines – some of it generated by our in-house editorial team, some of it curated from elsewhere; and encouraging them to create and share their own content and join the debate on social.” He emphasises, “You really cannot grow your presence on social without everyone being actively involved.”

There’s a further impetus for this approach: with Facebook announcing in early 2018 that it would take a tougher stance on branded content, enabling more social advocacy and social sharing from within the organisation has become key to attracting more looks and likes.

You really cannot grow your presence on social without everyone being actively involved.

Eamon Collins Group, Marketing Director, PageGroup

Key takeaways

Building the brand requires an emotional connection with employees and customers
Properly managed, social media is a critical weapon in encouraging engagement
A business-wide social media strategy will help employees to support the company’s objectives
The legitimate concerns of compliance and legal teams must be addressed
Social media advocacy platforms can be a key to circumventing ad-blocking software

We hope you enjoyed reading this article, which is part of our ‘Executive Trends’ series where we explore the biggest challenges facing senior business leaders and executives today. The series is already in its 3rd edition, and you can access all previous articles by clicking here.

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Flattening the management pyramid [8 Trends]

Anonymous — Thu, 25 Jan 2018 11:40:36 +0000

Flattening the management pyramid [8 Trends] Anonymous (not verified)

How the digital age invites horizontal leadership

Fuelled by fierce competition for talent, there is a growing trend towards horizontal management in the workplace. What are the benefits? And how should executive leaders go about creating a flat, open culture that works well for their business?

The streaming service Netflix does not track how many hours employees work each day, nor how many holidays they take. “We leave it up to people’s own good judgment,” explains Netflix’s Allison Satterlee. The company is a well-known example of the ‘flat’ organisations that have become so popular in the last decade.

For Netflix, the magic formula was a simple and compelling message: the only rule is that there are no rules. What’s your expense allowance for a business trip? You decide. Who will sign off your project? Nobody – it is up to you and your colleagues to determine whether it meets quality standards or not.

It is a message that ties in perfectly with how younger members of the workforce view their ideal workplace. According to a 2015 survey of millennials (those who reached adulthood around the turn of the century), a towering 83% prefer a flat, transparent and flexible way of working.

Driven by the job market

Horizontal management is by no means a new phenomenon. After all, even seventeenth century pirates democratically elected their captain and wrote their ‘constitutions’ collectively!

Coming up to date, technology companies were among the first to pioneer a horizontal approach to leadership, as a selling point for future hires. One of the reasons for the pivotal shift in management economics was the looming deficit in digital talent. With the rise of digital, it is no coincidence that horizontal leadership and similar ideas are firmly on the agenda.

Since fewer management roles are needed with a flatter structure, organisations enjoy greater agility and can more easily empower their employees.

Recent data by PageGroup show how companies are struggling to attract and retain tech candidates, with a clear shortage of Java developers in all major European Markets. For example, in October 2017 in France there were twice as many job adverts for these roles as there were candidates.

“The ratio shows there is a clear need for businesses to create the right environment for employees, instead of focusing on the right environment for managers,” says Matt Mowlam, Global Digital Director of PageGroup.

Tech companies embracing a more horizontal structure are using digital tools to support this new way of managing. Google has introduced Google Moderator, a tool that allows anyone to ask a question during a worldwide online meeting and enables all employees to vote for which questions they would like answered. Twitter, Facebook and Nextdoor have similar online Q&A sessions with their employees.

Here to Stay

However, for every success story, there is a corresponding example of a business that has hit a roadblock and returned to a more hierarchical structure. Why then do companies continue to invest in flattening their organisation when there are no guarantees of a smooth transition?

The reason is simple: there are huge gains to be made in innovation and agility. The big tech players know that their future depends on employees who can help develop new products and services to meet competitive demand.

Matt Mowlam adds, “A flatter structure empowers employees, but it doesn’t stop there. Since fewer management roles are needed, the model is highly cost-effective and has the added impact of making the organisation leaner and more agile.”

These are compelling arguments, and for organisations committed to a flatter internal structure it becomes a question of not if but how.

Variations on a theme

It’s worth noting that, as always, one size does not fit all. In ‘The Future of Work’, Jacob Morgen describes four types of horizontal structures, of which the so-called ‘flatter structure’ is the most scalable for the majority of the companies.

A flatter structure does not completely abandon the traditional hierarchy, but opens up lines of communication and removes layers from within the organisation. Cisco, Whirlpool, and Pandora are just some of the corporate giants who are actively implementing this approach.

A flatter structure does not completely abandon the traditional hierarchy, but seeks to open up lines of communication and remove layers from within the organisation.

Addressing generational and cultural gaps

One big difference between the larger tech companies and most other organisations is their demographic. The average age of employees at Facebook, Apple and Google is 28, 30 and 31 respectively. The vast majority of their employees are millennials who are generally comfortable with flat structures and digital tools. For companies in other sectors, this is still not the case.

Leaders need to find a balance between the multiple generations in the workplace, each with its preferred way of working. According to a Boston College Center study, baby boomers feel much more enabled in a hierarchical structure and are less open to the use of digital tools. With a wide range of needs at stake, how can generational gaps best be bridged?

An additional challenge faced by multinationals concerns how a perception of authority has a strong connection to the prevailing culture. Dutch sociologist Geert Hofstede coined the term ‘power distance’, which he defined as “the extent to which the less powerful members of organisations accept and expect that power is distributed unequally”. When Swedish managers were asked if they should have the answers to all the questions of their team, only 4% claimed that was important, in contrast to 47% of Japanese respondents.

The rise of the chief culture officer

Increasingly, horizontal companies are appointing a chief culture officer (CCO), a role first introduced by Google in 2006. PageGroup’s Matt Mowlam contends, “The rise of the CCO marks a shift in the way companies think about HR. Rather than having a traditional HR remit, CCOs are focusing on how to market the business in order to attract the right people.”

In the early Noughties, few companies grasped the added value the CCO can bring. However, a CCO or equivalent profile is becoming a key figure in companies committed to building a collaborative and inclusive workforce. There is a sense that a harmonised company culture is a route to commercial success and minimises the risk of collateral damage caused by either a high turnover rate or disengaged employees.

A harmonised company culture minimises the risk of collateral damage caused by either a high turnover rate or disengaged employees.

For maximum impact, a chief culture officer requires the full support of senior management, but just as importantly should remain in close contact with employees. Cultures grow and develop from the bottom up. The challenge for CCOs and their senior colleagues is to influence that organic evolution.

Key takeaways

Millennials prefer a less hierarchical, more transparent and flexible way of working
A flat management structure better supports innovation and agility
Four types of horizontal structure have been defined, of which the ‘flatter structure’ is the most pragmatic
Differing generational and cultural expectations can be an obstacle in creating flatter organisations
Increasingly, the appointment of a chief culture officer is intended to create a collaborative workforce

We hope you enjoyed reading this article, which is part of our ‘Executive Trends’ series where we explore the biggest challenges facing senior business leaders and executives today. The series is already in its 3^rd edition, and you can access all previous articles by clicking here.

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A New Role for the CFO: Preserving Trust in a Climate of Rapid Change

Anonymous — Tue, 14 Feb 2017 12:39:45 +0000

A New Role for the CFO: Preserving Trust in a Climate of Rapid Change Anonymous (not verified)

Trust is a vital element in business. If companies do not nurture and build trust, they will face difficulties in engaging their staff, and attracting and retaining key talent.

Analytics gained from digitalisation allow businesses to have more visibility in terms of accuracy, performance and ultimately control – thereby influencing trust.

In finding out which industry was regarded as the most trustworthy, Edelman’s Trust Barometer surveyed a range of over 33,000 people from the general population. The results placed technology as one of the most trustworthy, above industries such as pharmaceuticals, automotive and telecommunications.

The CFO – champion of innovation

The Finance function has gone through radical technological transformation. The expansion of more fluid automation has led to the shortening and streamlining of time-consuming manual processes, including internal audits, archiving and bookkeeping. This automation has led to a greater ability to discover and notice patterns in data and identify emerging trends, ultimately optimising the workforce and improving efficiency.

Since change is inevitable, it is imperative that CFOs fully prepare for change. They must build trust within their team and across the wider workforce by displaying true leadership, and clearly communicating the vision of their department, what that will entail for the business and what the impact will be on teams.

Honesty about the current state of affairs and clarity on the vision will help to facilitate change. Involving employees in the process, keeping them posted on progress and celebrating success will not only help engender trust but better prepare them for the new future, improving the chances of their becoming engaged advocates.

Honesty about the current state of affairs and clarity on the vision will help to facilitate change.

The need to steer and change the mindset

As reported in our CFO & Financial Leadership Barometer, CFOs are perceived as the change leaders who implement these new systems and help to drive the industry and company forward. They now have the added pressure of maintaining and improving trust levels internally and externally. This is taking place at a time when IT has bigger implications regarding legal risks, HR topics are becoming more complex and there is the growing use of technology in business.

More often than not it is the process that employees tend to have difficulty adopting, not the technology or system itself. Ensuring that processes are set up as efficiently as possible to minimise disruption will contribute to wider adoption and faith in the change.

The importance of the ‘human touch’

Innovation usually impacts the human side of any business. Amid the changes brought by automation, HR has a role to play in retention, in conjunction with the CFO. They will have to develop programmes together in order to foster and maintain levels of trust.

When talking about the optimisation and adoption of new processes to transform finance at PageGroup’s Shared Services Centre in Barcelona, Finance Director Geoffroy de Beaucorps, said, “Technology is an enabler. It is what people do with the technology that counts”, before going on to give an example: “The actual word ‘process’ sounds like a machine. In essence, it is all about the people.”

Finance today needs an ‘ecosystem’ of employees with the right skills, systems that support higher levels of automation, and processes to achieve effective overall control.

In order to instil trust, CFOs and HR leaders must reassure their workforce that some new roles will emerge. It is important that CFOs assess their employees to see who can adapt to change and embrace new opportunities. A mapping of employees that have real potential to grow will help develop digital transformation effectively and boost engagement. Essentially, what technology will do is help the workforce become more efficient as a whole and support employees in becoming smarter in their roles.

In conclusion

CFOs must deliver on the promise of technology, taking into account the critical human factors. High technology also requires high touch – a level of human interaction.

While automation will signify the end of some process-related jobs, it demands new skills as disruptive technologies arise.

People will be needed to implement, maintain and manage these new automated processes. To sustain levels of trust, CFOs will have to continually engage with employees and offer talent development to upskill their workforce.

Key takeaways

CFOs have become champions of innovation and leaders of change and their sense of people management is increasingly important
When enacting change, CFOs have responsibility for influencing their employees’ mindset to win the wholehearted trust of their workforce
CFOs need to be transparent about the vision of their function to inspire trust within the business as a whole

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How Generation Z is Redefining the Role of the HR Leader

Anonymous — Mon, 06 Feb 2017 14:01:13 +0000

How Generation Z is Redefining the Role of the HR Leader Anonymous (not verified)

The aspirations of a new wave of employees are impacting HR strategies and pushing organisations to clarify and redefine their purpose.

Companies are expected to demonstrate their values, which are ever more visible and subject to scrutiny, due to increasing digitalisation.

Leaders are instrumental in successfully attracting talent from Generation Z, those born in the mid-1990s and the mid-2000s. Business leaders represent not only what their company does, but what it stands for. They will increasingly need to make their business attractive to these enterprising, resourceful ‘digital natives’ who are now entering their twenties.

With baby boomers, millennials and older members of Generation Z active in the workplace, the very nature of how a company operates is affected, and its management even more so.

Introducing Generation Z

Generation Z, the youngest of the set, are highly perceptive, due to their online access and culture, and can quickly see through corporate brands that are disingenuous. They want to see companies passionately uphold their principles and stand by what they advocate – not just ‘talk the talk’.

Leadership style, talent retention strategies and employee engagement are just some of the challenges companies will face as a result.

Esther Roman, PageGroup Regional Human Resources Director, observes, “Companies traditionally tend to approach work with a ‘there’s a job to be done’ mindset, whereas employees are increasingly driven by the mission and by being trusted to fully execute their job. Such employees tend to want to contribute, making them ideal entry-level professionals. Employers must therefore review their strategy, so they can find and connect with these potential employees.”

HR Practice Leader for Page Executive in Europe Raphael Asseo expands, “Generation Z put their work ethic, diversity and work-life balance at the centre on their interest and priorities when deciding whether or not to join a company.”

“Generation Z put their work ethic, diversity and work-life balance at the centre of their interest and priorities when deciding whether or not to join a company.”
- Raphael Asseo, HR Practice Leader, Page Executive, Europe

A new wave of resourceful employees

Generation Z are self-motivated and entrepreneurial in spirit. They have been confronted with uncertainties, more even than the millennials, the generation that preceded them. As a result, they seek a job that is meaningful: salary isn’t the bottom line. Furthermore, they have seen their parents’ and older siblings’ loyalty go unrewarded by employers, so for them loyalty has to be a two-way street.

They are digital natives who have grown up in the online world. They are progressive and have had access to more resources than ever. They tend to be great networkers, which significantly improves their chances of succeeding at whatever they put their mind to.

An example of a successful member of this generation is Nick D’Aloisio, born in 1995, a computer programmer and online entrepreneur who founded Summly, an automatic summarisation algorithm. He sold the app in 2013 for a reported $30 million US dollars, making him one of the youngest ever self-made millionaires. He later went on to lead Yahoo News Digest, before eventually deciding to return to university.

Nick D’Aloisio represents the entrepreneurial, go-getting spirit of Generation Z. Others are those who tend to prefer working in flatter corporate structures, and in companies where they can be agile and participate in the decision-making process.

“As our workforce becomes increasingly diverse, it is more important than ever for leaders to have a strong grasp of cultural awareness. In Asia, for example, authentic leadership styles displaying respect and humility can often more effectively build credibility than, say, being brash and overly authoritative.”
- Franck Johnson, director, Page Executive, South East Asia

More traditional companies now need to create common ground for working with such a generation. Flatter management structures and using an agile methodology are just some of the measures that will create the conditions for a more fruitful and mutually respectful working relationship and help in retaining talent.

Is what you stand for attractive to Generation Z?

Reflecting on purpose is important to Generation Z. Companies need to revise what they stand for, particularly as it is expected that the workforce will include at least 50% of Generation Z by 2020.

But how do employers do this effectively? For a start, they must go beyond the marketing blurb and corporate social responsibility (CSR) page that appear on their websites, as these will not whet the appetite of those wishing to be part of a greater cause.

CSR as a cynical act for tax-saving purposes will certainly not impress this generation. Does the company really stand by its chosen cause? Often businesses lose sight of this. Having invested great effort into sourcing a cause and aligning it to their business in the early stages, they allow the relationship to peter out over time.

Esther Roman explains, “Leaders need to ensure that in defining what they stand for, they don’t just ‘tick the boxes’. In an era where companies continually find themselves in the public spotlight, this will soon become all too apparent. This makes the visibility of the employer’s brand, in its broadest sense, increasingly important in the HR strategy, with the need to project value, culture and delivery – all of which need to be consistent and managed effectively.”

Leaders need to ensure that in defining what they stand for, they don’t just ‘tick the boxes’. In an era where companies continually find themselves in the public spotlight, this will soon become all too apparent.
- Esther Roman, PageGroup Regional Human Resources Director

Transparency and flexibility – a partnership in retention

As Generation Z pushes the boundaries of traditional work-models, HR departments will need to review their talent retention strategies. An extreme example is Buffer, a social media company founded in 2010 that publicly discloses its salaries.

In 2015, PayScale surveyed employees regarding job satisfaction and pay. It discovered that the more information employees have about why they earn what they do, the less likely they are to leave. They seek transparency on everything and this even includes management. Does your company have a development plan in place?

Additionally, flexible work models are something that many will not only be accustomed to but will also feel entitled to. At design software company Autodesk, based in the USA, employees can take advantage of a six-week sabbatical, and enjoy free meals and flexible working hours.

Offering flexible schedules and remote working capabilities gives employees a sense of control, particularly around the work-life balance. It also boosts engagement and can help resolve talent shortages.

Such models aren’t restricted to creative or start-up companies; large corporate enterprises are also taking note. They rightly recognise the need to review traditional, outdated policies in order to hire and retain this increasingly important element of their workforce.

Leading by example

CEOs need to be engaging and take every opportunity to communicate what they stand for.

Marc Benioff, Chairman and CEO for Salesforce, is a good example of ‘going beyond business’. When his company was established, he initiated a 1-1-1 philanthropy model, donating 1% each of its products, equity and employees’ time to the community. Benioff is also vocal – and active – on social issues such as equal pay and human rights. His engaging and influential approach shows how an authentic leader can make a big difference.

As the prominent face of the company, CEOs and other leaders should show solidarity and a genuine intent to make a difference, or risk losing credibility. They must ‘walk the talk’, as ultimately employees will mirror managers and managers will mirror leaders.

Profitability is, of course, essential to running a sustainable business. But focusing solely on the numbers indicates a disconnect and a missed opportunity to identify and project what you stand for.

In conclusion

The real challenge for HR is retaining Generation Z, making it clear what the business is working towards and creating an attractive proposition for them. Leaders must consistently demonstrate why their employees have made the right decision in choosing to work for them.

Leaders must consistently demonstrate why their employees have made the right decision in choosing to work for them.

Increasing digitalisation means social media now plays a huge role in forming opinions. Employer review sites such as GlassDoor and Great Place To Work are often the first port of call for candidates wishing to vet a prospective employer, so leaders will need to look at the perceptions they are creating in the online world as well as on the shop-floor.

Key takeaways

HR leaders need to take into account employees’ expectations around meaningful work and flexible working
Leaders are highly influential in defining what their company stands for and communicating it in an authentic way

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Award: The Executive Search Company of the Year

Anonymous — Wed, 07 Sep 2016 15:52:46 +0000

Award: The Executive Search Company of the Year Anonymous (not verified)

Global recruitment firm PageGroup has been named The Executive Search Company of The Year and The Accountancy Recruitment Company of the Year in the 2016 Recruitment International Asia Awards – Singapore.

The wins are an indication of PageGroup’s continued commitment towards recruitment excellence and the high quality of service we deliver in the highly competitive Singapore market.

Sebastien Hampartzoumian, Senior Managing Director, Michael Page India and Singapore commented on the accolades, “In line with our organic growth philosophy, the Page Executive team has been promoted from within and we effectively retained expertise. They have also progressed within their roles locally and internationally ─ this international working experience enhanced their ability to serve the South East Asia region and establish strong business networks.”

He added, “This win reflects the team’s working experience in their respective disciplines which gives them unparalleled depth and market knowledge.” Being awarded The Accountancy Recruitment Company of the Year for the third year running is a great honour. Sebastien attributes this success to teamwork and is equally grateful to the dedication of each individual within both the Page Personnel and Michael Page brands.

He said, “On behalf of the team, we are honoured by the recognition from this award. This attests to the hard work of every contributing team member. On top of committing our business objectives to providing clients and candidates the best service, we work equally hard at supporting one another internally. That we believe is the key to surviving challenges in our dynamic recruitment landscape and emerging with more drive and conviction for success.”

We have established ourselves to be the leading finance and accounting, and executive search recruiter in Singapore and across the region and have consistently outperformed competitors in various areas. Regardless of the market condition, the teams have proven to be able to stay ahead and continuously grow; this has resulted in PageGroup being the recruiter of choice for the industry.

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The Chief Financial Officer: From Guardian of Strategy to Catalyst for Change

Anonymous — Mon, 21 Mar 2016 14:59:11 +0000

The Chief Financial Officer: From Guardian of Strategy to Catalyst for Change Anonymous (not verified)

The role of the CFO has evolved in recent years into a function fully involved in the definition and implementation of company strategy.

Current trends and developments such as global changing markets make chief financial officers and other financial leaders central to a company’s ability to change and adapt.

The traditional remit of the CFO has become more complex as financial management, accounting and control have become more global and interconnected.

What is the evolving impact of the CFO on corporate strategy?

Many CFOs have secured new responsibilities in areas such as IT, legal, HR and procurement. Modern-day CFOs have not only expanded their functional scope, they now also increasingly drive changes that impact the organisation as a whole.

Whereas for a long time CFOs were the guardians of corporate strategy implementation, they now are a powerful force in defining the strategy as well.

In all this, CFOs must ensure that initiatives are aligned with strategic guidelines and constantly contribute towards the business objectives. As the scale and scope of their responsibilities have been extended, most successful professionals are now fully aware of their pivotal role in corporate success.

What skills do successful CFOs possess?

A CFO today needs to offer a diversity of skills: financial theory, practice and techniques; social, language and communication skills; and also flexibility. CFOs also must demonstrate a strong ability to understand business strategies in order to contribute to all areas of the organisation, with many acting as catalysts and steering strategy development and implementation.

The most successful CFOs are those who combine such financial skills together with strong leadership and business acumen.

How bright are the CFO’s career prospects?

The role of CFO is gaining in standing as a career ambition. Once finance leadership was widely regarded as a stepping-stone to the role of chief executive officer. Today, financial leaders are strengthening their position in their own right.

After all, the complex decisions they make regarding globalisation, off-shoring variance of tax regulations and so on can make or break a company. Their growing involvement in shareholders’ meetings, investorrelations and corporate strategy highlights this development.

Assuming greater responsibility for company steward- ship brings closer ties with company owners, especially in privately owned companies, where CFOs hold a position of great trust and influence.

With these changes in mind, it is conceivable that the CFO could ultimately supersede the CEO as the most important C-level position, making aspiring to the role of CFO a career ambition for young professionals. Yet, those CFOs who eventually become CEOs will be able to capitalise on their career experience to date. To be ultimately successful as CEOs, former CFOs must be able to focus on talent, especially on how to attract, manage and retain top talent. Having had a wideand diverse exposure to international management challenges on top of strictly financial management roles will therefore be a key asset.

How does the CFO steer change?

Historically, financial leaders in general and CFOs in particular were often content to manage the status quo within the company and to implement the policies set by the CEO.

Now, CFOs increasingly act as change leaders, taking on a strategic role as they drive their own strategic initiatives within the finance organisation and across the company as a whole.

While change management remains a key priority in business today, CFOs are increasingly taking on this responsibility as a result of the great cost implications involved. In addition to building relations, identifying opportunities, minimising risk and improving long-term business performance, the CFO adds global scope to their repertoire. Two of the CFO’s main duties are to reduce costs and improve efficiency, two essential elements of finance transformation and a catalyst for business change.

Restructuring processes and organisations remains another key focus for financial leaders. There is a noted rise in those who are implementing outsourcing, centralisation and shared services. Identifying this change is only one part of the puzzle. Aligning this focus with strategic priorities within the business can be a challenge where the CFO will take the leading role. Pioneering and prioritising change within the business highlight the complexity of the CFO’s role: he or she has to be responsive and ever adapting to a changing business landscape.

Key takeaways

CFOs increasingly drive change that has a wide ranging impact on the business
The focus for CFOs is no longer solely on implementing corporate strategy but also on defining strategy
The key to CFO success is to offer a combination of financial skills, strong leadership and business acumen
The role of CFO is becoming a career aspiration in its own right rather than a springboard to the post of CEO

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