What’s holding many of today’s best executives back from true success? It’s likely not skills or competencies, both of which have often been honed through years of development through ever-more challenging roles.
The last two decades have seen a dramatic evolution in Global In-house Centers (GICs), as their value proposition has shifted increasingly from cost arbitrage to talent and skill arbitrage. As a result, GICs—until recently known as “captive centers”— are now driving process and productivity improvements for the corporation, creating new capabilities such as analytics, and leading crossfunctional synergies.
Egon Zehnder CEO Rajeev Vasudeva recently hosted a dinner for board members, CEOs and chief human resources officers whose operations in China and India give them a strong interest in developing local leaders in these emerging markets. The lively discussion generated the following observations.
Family owned and promoter run organizations are often the best custodians of long term value creation in India. Yet, many of these organizations have had a mixed record in attracting and retaining high quality professional talent from the outside.
In the cover article of the June 2014 Harvard Business Review, Claudio Fernández-Aráoz argues that potential—even more than skill and experience—must be the deciding factor as companies recruit and promote executives in a fast-changing, talent-scarce world.
Everyone agrees that CEO succession planning is critical. Yet many Chairmen are concerned that their own companies are underprepared for a change of CEO – and are exposed to the risk of a damaging leadership vacuum. This is the finding of an Egon Zehnder study in which more than 50 Chairmen and CEOs of major companies headquartered in France, Germany, the UK, and the US were interviewed.
Many businesses are keen to leverage the huge potential of the Indian market. However, gaining a successful foothold in India takes perseverance and a real effort to adapt to the nuances particular to this country.
Do you hope to become chief executive of a respected industrial company someday? Don’t assume that by vigorously applying your core strengths and learning everything there is to know about your industry you will climb the leadership ladder all the way to the C-suite.
Just when it seemed that the role of energy CEO couldn’t become any more complex or demanding, it did. Macondo, Fukushima, Keystone, Iran, the Arab Spring, and the rise of unconventional plays offer only the sparest shorthand for the risks, regulatory blowback, and geopolitical uncertainties that now dominate the agenda of the energy chief executive.
The business case for diversity and inclusion has won almost universal acceptance. Yet even the most well-intentioned companies often hit a wall when it comes to achieving diversity and inclusion in practice. Why?