| Grow talent from withinDownturn gives telecom firms a chance to close talent gapsProfessionalization in academic managementPrivate equity goes greenStrategic RestructuringGenerics companies need new leadership skillsRealizing talent potential in a downturnA need for Strategic Restructuring Value creation through intelligent networkingTime to take a career break? |
Grow talent from within
Maeil Business Newspaper
Companies hit by the recession should look to tap local talent instead of rushing to recruit foreign executives, said John Grumbar, Chairman of Egon Zehnder International, in an interview with the Korean business publication Maeil at the World Economic Forum’s Annual Meeting in Davos at the end of January 2009. “It would be a mistake to believe that a CEO recruited from outside will be a panacea to all problems,” Grumbar warned. He also highlighted the danger of companies harboring unreal expectations when recruiting a CEO externally. “All executives are now faced with new challenges which they have not experienced or seen in the past […] A perfect individual does not exist,” he added. However, cultural differences mean that expatriate executives often have to adjust to managing companies in a foreign country on top of coping with the downturn, putting even greater pressure on their leadership. Grumbar encouraged Korean companies to focus on evaluating and promoting local leaders from within their vast internal talent pools to meet future challenges. |
