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Harvard Business Review – Boards Need To Brush Up Their Talent Hiring Skills
The economic costs of getting C-suite decisions wrong can be huge, writes Claudio Fernández-Aráoz, senior adviser to Egon Zehnder, in the Harvard Business Review. A recent PwC study pegs the costs for companies at well over 100 billion US dollars. But while many corporate directors are experts in their own fields, they often lack the experience and skills required to effectively assess executive talent. “C-suite appointments should not be made based on intuition or cursory evaluations,” warns Fernández-Aráoz. Instead, he urges directors to: “commit themselves to learning and applying the best practices for making the right hiring decisions.”
Full story: Claudio Fernández-Aráoz: Why Boards Get C-Suite Succession So Wrong in the Harvard Business Review (15 May 2015).