New York City has a new law (Intro. 1253) that went into effect this month, preventing employers and talent advisors from seeking salary information from prospective employees (unless voluntarily provided or subject to public disclosure by law).
New York City has become the latest in the list of cities and states that are implementing new policies directly aimed at leveling the playing field, making it illegal for companies and organizations recruiting on behalf of a company to ask for the salary history of job candidates.
Given the growing danger of being left behind and commoditized by advancing technology, we asked ten senior leaders in Construction, Agriculture and Mining Equipment how their strategies are adapting. Titles of those we interviewed include President and CEO, General Manager, President of Agricultural Solutions, Chief Information Officer, Chief Digital Officer, and Digital Transformation Officer.
In my work in executive search, it is blessedly rare these days for discussions about leadership or board succession NOT to include the topic of diversity. The frequency and comfort level many corporate leaders now have discussing diversity is something to celebrate in and of itself.
Egon Zehnder’s Istanbul office recently convened a group of Turkey-based HR leaders from various sectors for a breakfast discussion focused on the importance of team building. Accompanied by the Office Leader Murat Yesildere’s presentation on “Building Highly Effective Leadership Teams”, the participants were very forthcoming creating an open dialogue where they shared their experiences and perspectives on team effectiveness.
As private equity firms look to maximize value from their investments, it is critical to ensure that portfolio company management teams have the right capabilities to execute against their investment theses. Though in many cases the underlying premise will lie in backing an existing management team, it is increasingly common for private equity firms to bring in a new CFO early in the lifespan of an investment.
Before a company acquires an expensive new piece of capital equipment, the board will vigorously scrutinize assumptions, payback times and contribution to enterprise value – assigning a net present value. What if this expensive new piece of equipment is the CEO?
Proxy season, with its voting on director slates, shines a bright light on board composition—an aspect of governance that has come under increasing scrutiny from investors, directors and other observers. But the slate is only the end result of a director succession process that has become more and more complex and competitive.
Board members today must grapple with increasingly complex matters of strategy and risk. In response, many companies are rethinking board meetings to enhance alignment, energize the board and elevate its performance.
Technology is transforming the industrial sector, bringing dramatic change in everything from time to market to customization. Realizing these benefits, however, requires organizations to undergo transformational change. But who, exactly, is going to make that change happen?
Recently, I outlined the current talent crisis in the chemical industry, in which pipeline and succession challenges have hit just as the industry undergoes its most dramatic set of changes in a generation. There is no single path out of this dilemma, but the first step is to parse the ways in which the industry has become more complex.
Most CEOs and boards name succession, both for the CEO and for business unit leaders, as their biggest strategic challenge. While this leadership challenge exists for every industry, it is particularly acute in the consumer sector, where many of the successive waves of disruption first hit.
Amoco, Anheuser-Busch, Chrysler, Motorola, Wrigley. Great Midwestern companies that failed to adapt to global competition and ended up being acquired. Many others have suffered the same fate or declared bankruptcy, and now the ongoing disruption from globalization and technological change is putting our legacy companies under further pressure.
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.
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.
Growth is the Holy Grail of corporate strategy. Not only do high-growth companies deliver significantly greater shareholder returns than the average, they are also five times more likely to survive as independent entities than their low-growth counterparts.
For businesses in every sector, Africa offers exciting prospects. Aggregate annual growth exceeds 6%, amongst the highest of any region, with the continent’s collective GDP forecast at $2.6 trillion by 2020. Africa is blessed with abundant natural resources and is seeing tremendous investment in oil and gas, mining and agriculture.
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.
Egon Zehnder organized a roundtable discussion on 21 March 2014 in Chennai, India, with senior HR leaders across industries to discuss the leadership-related challenges faced by the companies in Chennai.
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.
Over the past year Egon Zehnder has conducted an extensive research project involving direct interviews with more than 25 CEOs of major airlines around the world, and with leading industry thinkers. Our findings speak to a new competitive landscape.