The Financial Crisis - Stanton Chase International

More documents

Recommendations

Info

FEBRUARY 2009 T h e O n l i n e E x e c u t i v e N e w s f o r C o r p o r a t e L e a d e r s p4 FROM AESC The Financial Crisis and Senior Executive Recruiting: The Answer he answer is the convergence of two very strong underlying trends T that together have created almost a global wave of demand for senior executives in recent years. These are the demographic shifts in the Western economies and the explosive growth of the emerging markets. Although both trends have been talked about for years neither have been predictable in terms of their effect on a wide number of social and economic phenomena, not least being the supply of executive talent. But in the last five years we have seen how very powerful these forces are – McKinsey predicted a War for Talent 10 years ago, based upon their demographic forecasts. But their calculations were made without even taking into account the impact of demand in the BRIC (Brazil, Russia, India, China) and other emerging markets, which was then hidden from view. Today, many of our member firms around the world report fierce demand for talented executives from a wide range of sectors and organizations. Such is the limited supply that in many cases the demand cannot be easily met and a form of fast rotating musical chairs is taking place. The rotation of executives in China is only one example. Another is the international energy industry which is starved of engineers due to the lack of investment in training of petroleum specialists over many years. Another is the CFO market in the United States where the rapid turnover of executives has lead to top ranked and unblemished public company CFOs becoming almost an extinct species. There are many others. Inevitably executive search firms thrive on imperfections in the market and their help is designed for organizations in need; in need of strategic help to plan for adequate succession and upgrade competence, or for tactical help to respond to a crisis. Either way, if supply becomes tight then inevitably buyers become more attentive and more responsive to market need. This has clearly happened in recent years and many organizations now recognize that effective senior executive planning and resourcing is crucial to their long term success and even survival. For this reason many have created Talent Management department. More advanced organizations now talk about cultural and structural transformation in order to respond to the changing needs of executives, their desire to assume responsibility early, to respond to their work/life balance needs etc. Equally, such organizations recognize that their recruitment proposition must be compelling. Inevitably some client organizations do not appreciate the realities of the marketplace and here search consultants can help to provide feedback and advice. Executive Newswire But what now? If the economic crisis is going to cause job losses then won’t there inevitably be an oversupply and thus the conditions described above will cease to exist. The answer, perhaps unsurprisingly, is no. Firstly, recessions don’t last forever. Secondly, talented executives will still be needed and sought after because, unless many organizations cease to exist during the recession, there will still be a demand for leadership and management skills to chart the troubled waters. Many organizations know from past experience that cutting into a key resource such as executive talent during an economic downturn will only come to haunt them when demand returns. Good managers don’t grow on trees and wise CEOs and boards recognize that investing in people when the market is soft can be an excellent strategy.
The 39th Stanton Chase International Global Partners’ meeting will be held in Dubai on April 30 till May 2, 2009. Under the motto “A Symphony of Growth in C Major”, more than 100 partners and senior consultants from all over the world will gather in Jumeirah Beach Hotel in order to explore the paths for long-term growth. From a strategic and business development point of view, it is the first meeting during which all Practice Groups will meet separately for one full day to discuss and investigate their future potential at international level, exchanging information and best practices. These meetings, along with the expected plenary sessions, will be coupled with powerful networking events and renowned key note speakers. INFO: www.stantonchase-gpmdubai.com/en/ Business Breakfast! New Survey! After the successful completion of the first CEO Census in the GCC region, Stanton Chase Dubai is launching its first CFO survey in order to benchmark the current challenging market of he CFOs in the GCC region. S T A N T O N C H A S E I N T E R N A T I O N A L R E G I O N A L N E W S > New arrivals in Stanton Chase Dubai office: Konstantina Sakellariou has joined as Marketing & Communications Manager. Vijay Daniel is the new Senior Researcher of the office. Nicolas Dietz Principal Consultant, Kingdom of Saudi Arabia > Stanton Chase International and the CEO Clubs co-organized a Business Breakfast on the 25th of February 2009 in Shangri-La Hotel. Key Note Speaker: Mr Usman A. Ghani, from Dallas, USA. The Business Breakfast was successfully attended by 62 senior executives who discussed on the topic of: THE LEADER INTEGRATOR An Essential Chief Executive Role The leader of the 21st century is the Leader Integrator – an executive who breeds multiple perspectives, consciously connecting these and applying a variety of skills to establish new directions, options and solutions for any organization (or nation). Leader Integrators adapt multiple roles and create new talents and teams to establish new directions, especially in the times of economic and market ISSUE 1 > Pascal Baz has been promoted to Associate Consultant specialized in the Industrial, Logistics & Transport, and Natural Resources & Energy sectors. She joined Stanton Chase Dubai office in January 2008. Prior to being appointed as an Associate Consultant, she was a Senior Research Associate. p5 crises, such as the one we are witnessing during 2008-2010. Mr Usman A. Ghani is a Fortune-100 executive, distinguished by his record of developing powerful board policies and business strategies for a variety of industry leaders, including McKinsey & Company, Royal Dutch / Shell Group, Exxon Mobil Corporation, and Electronic Data Systems. Usman has held leadership roles in strategic planning, marketing, operations, organization development, IT, and executive education, as well as led cross-functional, multi-cultural core-business process teams. Besides being a high-value consultant, an executive educator and a key note speaker at business forums worldwide, Usman is also a visiting professor at the University of Texas at Dallas, a sponsor of the Harvard Business School Club and an author of business books. Stanton Chase Dubai has developed a strategic partnership with the First Human Resources Management Summit 2009 to be held in Bahrain on 15-16 April 2009. It is the only dedicated Conference focused on meeting the specialized HR needs of a fast growing economy. Find out more at or call +973 1736 5044. www.hrmsummit.com
Page 1 and 2: FEBRUARY 2009 The Online Executive
Page 3: Wassim Karkabi Partner & Regional P
Page 7 and 8: By Gail Seuren S T A N T O N C H A
Page 9 and 10: S T A N T O N C H A S E I N T E R N
Page 11 and 12: S T A N T O N C H A S E I N T E R N

The Financial Crisis - Stanton Chase International

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?