Defence Aerospace latest
Southwest Research Institute Sr. Therefore, we tend to support the CINO role as it enables ideas to come to fruition and acts as a catalyst to get them to market quicker and see a financial return. Comparatively you can have someone with no values who knows how to manipulate and get outcomes, but for all the wrong reasons. The CINO often is empowered to facilitate the establishment of such partnerships and to make various investments that streamline innovation development. There has been a substantial spike in demand for strong Infrastructure leadership with experience in Cloud Computing. Hawk made an appearance when Meliodas orders him to clean up the food scraps on the floor by eating the scraps.
Insights & News
About P2 Capital Partners P2 Capital Partners is a New York-based investment firm that applies a private equity approach to investing in the public market. P2 Capital Partners manages a concentrated portfolio of significant ownership stakes in high quality public companies in which it is an active shareholder focused on creating long-term value in partnership with management. The firm will also lead private equity transactions within its public portfolio.
Investors Patrick Cronin Patrick. In connection with the proposed merger, the Company will file relevant materials with the U. This communication is not a substitute for the Proxy Statement or any other document that the Company may file with the SEC or send to its stockholders in connection with the proposed merger.
In addition, the documents when available may be obtained free of charge by directing a request to Patrick Cronin by email at investor. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the Proxy Statement and other relevant materials to be filed with the SEC in respect of the proposed transaction when they become available.
Laurence graduated with a B. Butler has over 30 years of manufacturing industry experience. From May to the present, Mr. From to July , Mr. Mel Keating has experience in various executive, advisory and Board roles for both public and private companies, most recently serving as President and Chief Executive Officer of Alliance Semiconductor Corp. He is currently a director of Infologix Corp.
Additional prior directorships include: In general terms, banking and traditional financial services companies, particularly the largest corporations, lag in innovation and face an intimidating level of regulation and bureaucracy. In contrast, the FinTech sector features far flatter organizations that offer opportunities for significantly accelerated career progression.
So, it stands to reason that banks must flatten out their own organizational structures if they are to compete successfully for talent. In terms of sheer numbers, the exodus away from banking is definitely weighted toward junior employees — but senior executives are in demand, too. Despite an often significant reduction in compensation, senior-level professionals are also joining or establishing FinTech start-ups.
Some even take reduced-salary roles, with the cutback made up for by equity or other stock options. The attraction is an opportunity to be involved with a project from the ground floor, and to play a leading role in development of a product or service that successfully fills a market niche. There are always pluses and minuses in transitioning from one business sector to another. But for the numerous senior leaders Marlin Hawk consulted who elected to switch traditional institutions for FinTech companies, there were two key, motivating factors — innovation and autonomy.
Some Wall Street firms — to discourage junior bankers from defecting to FinTech — are reducing by a full year the time required to be promoted from analyst to associate. And several banks have created in-house digital factories to incubate digital operations, in agile, innovative environments that are decidedly less formal. These factories not only serve to help with retention of existing talent by modifying company cultures, but may also contribute to attracting millennial talent that includes recent graduates of baccalaureate and MBA programs.
Of Harvard Business School graduates, a paltry four percent were interested in entering investment banking — a remarkably low number compared to only five or 10 years ago. This drop in interest is a clear indication that the autonomy, opportunity for rapid advancement, and technological innovation offered by FinTechs is attracting millennials in droves. For traditional financial institutions, the overall situation is indeed a serious one.
Consider that in , between 40 and 50 percent of all bank or hedge fund employees were considering switching jobs and leaving their larger corporations, at least in part because of concerns about automation making their current roles unnecessary. And this was true even in typically human-operated functions like financial modeling or advisory. Looking further ahead, estimates indicate that approximately , people will have their financial services roles eliminated by automation during the next decade.
Given this gloomy projection, cultivating technology capabilities and putting them to use at a FinTech start-up will continue to look like an attractive option for many banking professionals. For one thing, they can mitigate the problem either by investing in or making outright purchases of successful new players in the financial technology sector.
They certainly have the resources, and this strategy would allow banks to retain access to talent, while also learning from FinTechs and others. In addition, they must cultivate innovative approaches note the aforementioned digital factories that will help retain talent.
My own firm, Marlin Hawk, issued a white paper on talent poaching that found the practice rampant across the entire business spectrum — with many leading companies failing to defend talent in any substantive fashion. The global insurance industry is facing substantial disruption.
Insurers need to make up for lost time in the race for digital supremacy. The problem in Asia is that traditional hierarchical corporate culture is thwarting enterprise-wide digitization. It is important that insurance companies retain traditional strengths such as underwriting discipline and claim execution, but these must be integrated within a wider digital strategy. New influences include behaviour-based pricing, peer-to-peer insurance models, estimate by photo and damage assessment by drone.
Insurance companies that fail to react to these market forces will not be saved by regulation, but will be overtaken. Many insurance companies can point to isolated pockets of digital innovation that may even be world class and undoubtedly add value to their business. Insurance companies must live and breathe digital, with a joined-up approach that embraces everything from the customer journey, user experience and artificial intelligence to business processes, big data analytics and agent interactions.
While some Asian CEOs may have This approach does not usually sit well with Asian business culture, with its multiple layered command and control construct. The growth of digital and e-commerce is beginning to change Asian organisational culture. Businesses are still autocratic and employees seldom speak out against the status quo or express views that may be contrary to the corporate values of their employer.
Instigating change is all about being patient, getting to know colleagues and building relationships that will facilitate innovation over a protracted period. Creating an enterprise-wide digital team with enterprise-wide access is a necessary first step on the digital journey.
It is also critical that the board understands and evangelises the digital agenda and that the architects and implementers of the strategy have the requisite experience and reference points to succeed. That requires an unorthodox approach to executive search and the courage to make non-traditional appointments that really break the mould, such as candidates who have experience from sectors that are more sophisticated in terms of the customer interface and experience.
Banks are gradually beginning to do this, partnering with search firms who understand the need for onboarding and integration, such that an incoming senior executive from Amazon or Google can adapt to an alien environment and deliver the desired return on investment. Asian insurers need to take a close look, not just at their counterparts in other regions, but at the growing number of successful IT firms springing up across the Asian continent, firms that are going against the cultural grain to succeed.
Not only do organisational barriers need to be broken down, but structures need to be refashioned to encourage inter function and inter department collaboration and, ultimately, to facilitate the roll-out of far reaching digital roadmaps.
Such exponential growth brings both opportunity and threat. The up side is that, by capturing volumes of data and leveraging the latest data tools, smart commercial decisions can be made. The down side is that, if the data analytics function is not plugged into the rest of the organization, the potential gain will not be seized.
Some companies overlook a vital truth: To extract value from data demands IT expertise, but the mindset and skills do not always reside in a typical IT department. Of course, technical nous, algorithmic thinking and predictive modelling are fundamental skills, but these come second to business acumen and the ability to pinpoint the relevance of specific data sets within a commercial context.
Fronting up to a terabyte of data can be very daunting for a non-technical executive and the CDO must provide the intellectual muscle to push data around and deliver meaningful output that packs a punch. For that reason, and to preach the importance of data at board level, it is more effective for the role to report to the CEO than the CIO. The CDO needs to have a high EQ, building a strong relationship with the CIO, winning budget, instigating change and garnering support from line of business heads.
While the business should be the owner of data assets, the CDO acts as a guardian and enabler, collecting and harnessing data to get business results that will keep internal customers coming back for more.
Demonstrating success is important from the outset and the role spec needs to have a strong focus on metrics that link data analysis to KPIs eg. Companies across the globe are beginning to realise that data, like talent, is an invaluable resource that needs to be nurtured. If the new face of data analytics is a CDO who has been carefully selected by a suitably qualified executive search firm, the hiring company will have on board a powerful data advocate - someone capable of engaging the entire business and extracting value that can be directly linked to increased profit.
Debating the pros and cons of the Chief Innovation Officer CINO has become irrelevant, since the position now enjoys widespread recognition and support across nearly all business sectors. For , a more pertinent discussion is exactly how the CINO post will evolve, as forward-looking companies endeavor to break down silos while also leveraging relationships with external entities as growth vehicles. For the CINO of the future, one potential model is the centralized executive, which envisions control of all innovation across the entire enterprise.
This would, quite literally, be the owning of every new idea and next-gen development, regardless of division or line of business. Such a purist construct is ultimately doomed, in part because the information volume would be too great to be effectively managed by a single individual, and also because it suffocates the creative power vested in so many other roles. If you accept the premise that a company is really no more than the transfer of ideas, this centralized model would represent the placing of excessive responsibility in one pair of hands.
Instead, this individual provides instruction, while also connecting disparate groups or people for mutual benefit. For instance, if a given group enjoys better margins, it can afford to be more aggressive in terms of reinvestment strategies. Under the federated model, the CINO is a facilitator, but not the primary originator of innovation. Instead, the executive enables innovation by educating and cross-fertilizing across the entire business. As a result, new products or systems remain within the division or unit that developed them, with everyone recognizing that the ideas might never have come to fruition without the counsel and guidance of the CINO.
Whether the future of the CINO role takes more of a federated or centralized direction, its impact within companies will continue to expand. It already fulfills two crucial yet distinct connection functions, one focused on internal invention and one trained squarely on external enterprises.
The end goal is cultivation of an unparalleled perspective on innovation trends across the entire business. This level of awareness is invaluable, particularly in an organization actively attempting to move away from a traditional, hierarchical structure in favor of decentralized groups that collaborate and share information. In such a case, the CINO can potentially be a catalyst to seismic change, both for the operating model and in the office culture.
Journalist and writer Malcolm Gladwell may have expressed this need for collaboration most succinctly: The quickest route to growth is often through connection with — and possibly even acquisition of — start-ups and other groups, before perceived value makes them inaccessible. Google, Amazon, and Pay-Pal have each embraced this approach as a strategy, and regularly demonstrate its impact.
The CINO often is empowered to facilitate the establishment of such partnerships and to make various investments that streamline innovation development. The CINO not only has to manage the resource, but also ensure integration with other related internal functions, including marketing, digital, technology, and customer care. Both roles are essential, and there needs to be a strong bond between them. The key to success is sharing of a knowledge platform, with the CINO focusing on shorter horizons and commercialization, and being prepared to pivot as needed to accommodate the pace of change.
Marlin Hawk has designed and implemented CINO offices across multiple sectors, while managing searches that discover the best talent to lead them. Old-school, white, male, elitist, hierarchical and dogmatic, boards are all too often traditional in attitude, rigid in outlook and restricted in vision. The recipe for corporate success in the 21 st century is largely behavioural and centres on openness, values and people. It is time for boards to break the mould and get in touch with their softer side.
The right behaviour starts at the very top. He asserts that CEOs do not need to be all-knowing. Such humility, once deemed a weakness, can make leadership teams stronger. Part of having a high EQ is to be a good listener. The new generation CEO facilitates this by breaking down hierarchies and speaking to their driver or receptionist the same way that they speak to fellow board members or investors.
For the chairman, CEO and wider board, dialogue and approachability underpin success. But there must be a framework around which to communicate, a set of core values or leadership principles that direct corporate strategy. Financial goals remain, but are delivered via a multichannel ecosystem that revolves around the customer, with multiple checkpoints for exemplary conduct.
Before, CEOs could do whatever they wanted if they got results. Now, the end result is a by-product of behaving well. If all board decisions are aligned with core values, they are far more likely to support satisfied customers, happy employees, a thriving culture and - ultimately - sustainable profitability. The shrewd ones realise that HR is essentially what runs the business, that talent is not a commodity and needs to be managed, and that the strategic remit of the CHRO in navigating change is critical to ongoing success.
Launched in November , the Hampton-Alexander Review is setting a new FTSE target for a third of executive leadership roles to be occupied by women by Boards risk stifling business performance if they do not embrace diversity. Stuffy, autocratic boards should be consigned to history. Boards that fail to adopt a more collaborative, values-driven leadership style, risk becoming less competitive, less innovative, and less attractive to scarce talent.
Those that resist change will see performance suffer. Come the AGM, they may need to swap their usual attire for a flak jacket. The business world is constantly changing and, as a result, we often see new roles added to the C-suite, such as the Chief Customer Officer and Chief Data Officer.
Why support a job creation scheme for executive searchers? But the critics are missing the point. The CINO does not single-handedly embody all the innovation in a company. Their remit is to identify pockets of innovation that contribute to a wider strategic vision and, vitally, to put processes in place that thread them together and turn them into reality. Therefore, we tend to support the CINO role as it enables ideas to come to fruition and acts as a catalyst to get them to market quicker and see a financial return.
In effect, the role serves as incubator, hatchery and nursery for the entire business, allowing ideas to grow strong and healthy before being unleashed. The CINO position requires a rare breed of talent. It demands diplomacy, influencing skills, technical genius, marketing intuition, operational know-how and a heavy dose of practicality.
An innate understanding of organizational design facilitates the right inter-departmental dialogue, eradicates duplication and integrates creativity. If the organizational construct does not support innovation, the CINO needs the gravitas to influence HR and bring about change. Having a CINO on board does not mean that one person is in charge of innovation and the rest of the company is not.
Everyone is responsible for originating ideas, but the CINO is responsible for harnessing them, stepping back from short-term goals and galvanising innovation into a far-reaching action plan. While digital is successfully disrupting almost every industry it comes into contact with, it is also set to revolutionize how organizations and companies themselves operate, meaning big changes are afoot for any CHRO.
HR technology is becoming an area of utmost strategic importance: The change to the HR department that digital technology will bring will be all pervasive and omni-directional throughout every company.
This paper explores these manifold changes and clusters them into three broad groups: Over the next few years, the CHRO will become one of the more tech-savvy executives on the management committee.
For many, this is the first step to becoming an agile, digital HR environment. Stellar UX, granular levels of personalization and immediacy of use will be paramount for an HR organization to keep employees engaged.
Employees will expect an intranet to be engaging and personalized, and even self-curated - similar to their experiences with modern social media, online shopping and entertainment providers. Another aspect of inward-facing changes will be performance and talent management. In the last three years alone, we have seen an explosion of new market entrants looking to disrupt the formerly steady ERP ecosystem.
The roster of start-ups and new services in this space alone is astounding. It ranges from real-time employee recognition, to wellness and mindfulness tools; from tools to allow employee level goal management and completion to apps for attendance management and employee location management; from video recruiting to online bias training. Moreover, with the workforce of tomorrow consisting primarily of millennials, talent development methodologies will change in tandem with this digital revolution.
Gamification of career development will ensure employees stay motivated month-to-month and quarter-to-quarter. With an HR organization that is primarily cloud-based, and capable of integrating multiple third party solutions, the CHRO of the future will be more enabled, more informed, and more strategic, than ever.
Employees will have the HR department in their pocket, and be able to execute their responsibilities more efficiently than ever. Employees will become more de-tethered from the office, and will have a suite of products that allows them to operate from anywhere and work on anything. Central to this is a design-focused approach to processes, applications, user experience and flexible labor.
With this data comes the potential for customization and increased agility. Employees will be able to give real time feedback to management on new applications and business processes, providing the HR department instant insight into culture-effecting gripes and department-wide bugbears with technology.
Furthermore, with a multitude of connected digital devices, managers and the CHRO will be equipped with masses of data that can be leveraged to optimize training and personal development, improve business process, increase performance and reward staff in a more meaningful fashion. Employees will no longer feel like localized employees in their office or city, but global citizens of their organization. I feeling a lack purpose and progression in their career; ii not being heard by management and; iii not feeling connected or loyal to their company; opening up new channels of digital collaboration - with their teammates, inter-department peers, and with management - could be the key to unlocking an entire generation of talent.
Digital is no longer a department or the sole remit of the Chief Digital Officer. It is a way of working that pervades the entire organization, from the CEO downwards. Talent, engagement, innovation and cross-functional thinking are crucial. The HR function has the chance to play a pivotal role in leveraging the power of digital transformation and enablement, ensuring that companies attract, retain, and reap value from top millennial talent and thereby stay ahead of the competition. Interim consultants by definition occupy short term roles.
Yet the nature of such roles, which tend to involve transformation or turnaround, is very demanding for candidates and critical for clients. The search process, therefore, must never be a compromise. The calibre and fit of candidates are at least as important for interim roles as they are for permanent ones. Premium interim consultants are often not available on the open market. Finding them requires an experienced interim search firm that adopts the same approach as permanent C-level search.
Some executive search firms have an interim arm that is integrated into the business and is governed by the same operating principles. They tend to have extensive cross-industry and cross-geography market intelligence and a global network of referenced and vetted candidates. When sourcing candidates, they put great emphasis on quality, proven track record and cultural fit.
Finding game-changing talent demands acute insight garnered from sophisticated assessment techniques. Assessing hard skills is not enough. Being a digital native, a transformer and an authentic leader are as important as demonstrating hard skills that relate to a specific role. But the key attributes to assess are values, agility, drive-through, strategic intelligence, organizational adaptability, cultural maturity, emotional intelligence and consensus building.
The best interim search firms add a scientific dimension, using established cognitive, behavioural and personality tools or applying their own proprietary assessment methods. Companies that use high-end interims often have a long-standing relationship with a search partner who knows their organisation well and can hit the ground running when a new brief comes in.
A handful of clients that rely on interim expertise now have a more sophisticated, pro-active arrangement whereby a retained search firm builds and maintains a high performance interim talent pool designed around their required competencies and experience profiles.
Availability is constantly monitored, ensuring that each category has depth and breadth at any moment in time. The onus is on readiness to provide the right talent quickly in response to rapidly evolving requirements.
Recruitment Process Outsourcing RPO is well suited to contract recruitment, yet some RPO service providers apply the same cost-based model to high end interim roles.
It is important that clients going down the RPO route differentiate between volume suppliers of contractors and search firms providing interims. It is the job of an interim provider to understand the client, the culture and the requirements, to represent the brand and to match the right interim to the role.
RPOs tend to lack the expertise and are not programmed to operate at senior executive level. Scripts have their place but, as with sourcing permanent C-suite talent, they are not the right medium for interim search.
Interim search firms working direct with the client on higher margins place better qualified and suited candidates. The model used by the best interim providers is no different from that used by leading executive search firms. By investing time, effort and expertise on a par with executive search firms, interim search firms are far more likely to deliver candidates who bring value and leave a lasting legacy. In , we are going to witness another technology revolution and a step change in the way we do business.
Artificial Intelligence, Big Data and the Internet of Things will move up the hype curve to everyday life. Game changing bots will break down the barrier between humans and machines and bridge the gap between physical and digital worlds. Innovation will become the new standard and that is going to have a big impact on talent at every level.
Voice recognition is the essence of this technology revolution. Talking will replace tapping. Siri and Google Now have been around for a while, but the latest bots are upping the ante, aiming not just to mimic humans but to better them. This wholesale switch to conversational user interfaces will have a massive impact on the customer experience. Whether it is ordering your favourite takeaway, controlling your household gadgetry remotely, configuring product options before buying, or posting a helpdesk query, bots will be sophisticated enough to process most customer interactions.
The inexorable rise of artificial intelligence will affect the workforce from top to bottom. A host of jobs will be lost, such as call centre and customer service operators, but that does not necessarily mean that employment levels overall will shrink.
Many companies will seek to redeploy people where they can improve process efficiency and add value to the customer experience. New roles will burgeon, including UX designers and data scientists, where people with front line experience can be retrained to perfect the customer journey and maximise sales. While artificial intelligence will remove friction from the customer experience, there is a trade-off: Further up the management chain, the emphasis will be on agility.
Omnipresent change is the new norm and company leaders will need to react quickly to opportunities and threats, ensuring that the entire organisation pivots rapidly. New roles - such as the Chief Customer Officer and Chief Innovation Officer — need to be created with technology firmly at the core.
Companies that fail to be truly customer centric are in danger of becoming the next Blackberry or Kodak. Being agile requires a totally open mind, the courage to adapt and change direction - exemplified by survivors like IBM, Apple and Nokia - and leaders that can inspire and engage so that vital talent stays on board. The velocity of change demands that leaders embrace different cultures and diversity of thought.
They need to be comfortable with disruption and can no longer stick rigidly to a long-term roadmap. As Graeme Codrington, co-founder of TomorrowToday , says: In business it is often the marketplace that shifts quickly, creating new contexts. When the context changes, leaders who do not adapt find themselves qualified to succeed in a world that no longer exists.
It is not just leaders who need to adapt, but the entire organisation. Companies will need to build nimble, flatter, cross functional rather than siloed teams, so that the leadership remains close to product management, innovation and the voice of the customer. That way, when the CEO needs to re-set the compass to react to changes in the market, it is more like turning a Segway around than an oil tanker.
However, companies that fail to react to the technological context that drives customer behaviour and loyalty will face extinction far sooner. Surely, an equal measure of TQ Technological is now a must? The CFO of today is a far cry from the rigid, number crunching executive of old. No longer a square peg, a great CFO is a rounded leader who can add value beyond the finance function and deliver business results.
Like the CEO, the CFO is instrumental in defining company strategy and needs to have the vision, determination and communication skills to gain buy-in and drive the agenda forward. Nobody is better placed to ensure that strategic decisions are based on a combination of solid financial rationale and business context.
The CEO wants a business partner who can help grow the business, turn financial data into actionable intelligence and identify new potential revenue streams such as new geographies, new markets or potential acquisitions. A strong commercial mindset enables a CFO to go from good to great. The best CFOs are naturally curious and take a wide-angled view on what makes a business tick and drives financial performance.
They tend to have a broad education, including an MBA, and not all CFOs come from the traditional accountancy background. While climbing the ladder, some finance executives acquire valuable experience in other functions - such as Operations, IT or Risk Management — where their forensic, problem solving and reporting skills can be put to good use.
Having a genuine empathy with other functions, and an appreciation of the customer, equips the CFO to provide relevant data and insights as well as to make prudent decisions on the use of assets and resources. A great CFO must be a persuasive influencer and an attentive listener.
They must display strong values, cultural maturity and adaptability to change. To truly partner and challenge the CEO, the CFO requires credibility and engagement both inside and outside the organisation. The CFO must also be tough enough to push back on the CEO, to cope with pressure from regulators, investors and the media, and to stand by difficult decisions such as redundancies and cutbacks. Many CEOs are hired for their track record in business turnaround and transformation. Of course, the traditional core skills of the CFO are still important and the headhunter will need to seek evidence of effective cost cutting, cash management, financial controls, reporting and compliance.
The candidate, however, must demonstrate an understanding of the commercial context within which these standard requirements have been met and a desire not just to safeguard the company but to promote innovation and stimulate growth. An essential skill possessed by the greatest CFOs is the ability to mentor and nurture talent.
Headhunters are placing increasing emphasis on CFOs having a penchant for technology. By harnessing cloud-based ERP systems, for example, the finance function can be more agile and scalable and can empower senior management across the business with real-time data they can react to quickly. The CFO does not need to be an IT wizard, but needs to understand that clever application of technology allows the finance team to spend more time analyzing and interpreting data, instead of preparing it.
The use of predictive analytics will only help this further. The role of the CFO has evolved beyond recognition. Exit the stereotypical bean counter and enter the 3-dimensional CFO, aligned with the entire business and cut from the same cloth as the CEO.
Gone are the days when swapping the same names around the FTSE will do the job. But Asia can be a spectacularly difficult place to do business, with a plethora of different employment laws and regulatory regimes necessitating a bespoke approach to human capital in each jurisdiction.
Most organisations have not been able to move their diversity agenda forward in a meaningful way, or take a more enlightened approach to attracting top executives with particular nationalities, both of which are essential to building sustainable businesses in countries such as Indonesia.
Diversity is an impossible problem to solve in the short term as the candidate universe, for example for senior Financial Services or Technology roles, is representative of the overall demographics of those groups.
Only long term and grass roots initiatives can change that. The same applies to executive talent from Asian countries which have historically suffered from sub-par education systems — there are simply fewer home grown candidates with the right skills and experience.
My wife likes this phrase — I think she is joking although she does have a lot of spreadsheets , but decisions in business are often rightly made on the basis of a model, ROI calculation or other analytical process.
This is the point at which investment in diversity can often be deselected. When the executive team is considering where to spend their precious investment dollars, the quantifiable return of a new technology program to streamline, save cost and improve customer experience or an improved compliance environment to guard against issues, regulator scrutiny or fines may prove far more attractive than a seemingly intangible investment in diversity.
The fact is that the ROI on diversity no longer remains intangible. McKinsey asserts that diversity is a competitive differentiator and that companies in the top quartile for gender or racial and ethnic diversity are more likely to have financial returns above their national industry medians. Leadership advisory firms can help forward thinking clients improve their diversity ratios by tracking and curating global talent pools.
Talent pipelining is not a guaranteed solution of course — nothing is in human capital, but it is a lot more scientific than commissioning tactical searches at times of need and hoping for the right outcome. It is perfectly natural to want our sons, daughters and - to an extent - work colleagues to reflect ourselves. It makes getting things done that much easier. But it is in fact the very opposite of what we should be striving for. Diversity of thought and cultural-specific knowledge stokes debate, promotes creativity and leads us down more visionary paths.
So many companies have gone spectacularly wrong in Asia through not being sensitive enough around local execution and not having the talent in place to effectively manage it. The identification, socialisation and eventual hiring of scarce talent is only the first step.
Leadership advisory firms are now working more strategically with clients on talent planning. A lot of good work can be done in advance to try and ensure the soil is fertile when talent is eventually hired. The alignment between leadership advisory firms and HR chiefs will get even closer, with external firms operating as an extension of in-house HR departments. Part of the requirement is to manage the risk of post-hire rejection. This not only demands due diligence before the candidate comes on board, getting the framework right in term of organisational design, rules of engagement and support network.
It also demands an onboarding program that carefully integrates the newcomer and maximises their chance of success. Many Financial Services companies are now creating bespoke ecosystems for their digital talent to thrive in, often housed separately from HQ.
These innovation labs are a step in the right direction, but there is often significant cultural disparity that needs to be recognised and addressed when hiring a new breed of talent that does not emanate from a competitor across the street. Companies need to be mindful and invest in their culture to ensure that new seeds flourish and germinate.
Most major corporates have now established good diversity basics, ensuring role models are in place, mentoring occurs, unconscious bias is removed and company values are in line with 21 st century work practices. Many others still have a long way to go, particularly from the perspective of embedding cultural change. There are no easy answers, but a handful of leadership advisory firms have had some great success implementing longer term initiatives to repatriate and integrate Asian leadership talent from overseas.
Such initiatives include on-boarding non-traditional executives and showing clients that cross-sector hiring can be hugely beneficial.
A quarter of U. This is among the key findings of a talent retention survey of nearly human resources professionals conducted recently by Marlin Hawk, a global leadership advisory firm focused on next-generation talent, and Hunt Scanlon Media, the most widely referenced source of information on human capital.
And of those professionals whose companies had a strategy in place, only 39 percent were satisfied with it. But when it comes to defending talent, the figurative gates seem to be wide open. Recent headlines indicate that such companies as Goldman Sachs, Netflix, Audi, Fox, and Tesla all have been victimized by a competitor plucking away some of their most talented leaders.
It happens everywhere, in all manner of businesses. Yet, despite this information, only 47 percent of those companies whose human resources professionals responded have a definitive plan in place to identify vulnerable talent. In fact, Oppenheimer asserts that talent is now the single greatest enabler of business strategy. That makes the findings even more alarming in that so few barriers exist to deter those who would poach crucial talent.
The answer, quite simply, is to take appropriate steps, without delay. Other recommendations are identifying dissatisfied executives who may be more susceptible to poaching, and then taking visible, direct steps to alleviate their concerns, while also providing regular forums for them to express concerns and vent frustrations.
Of course, from time to time, key talent will leave. At such times, a robust succession plan — with a listing of potential replacements and a plan for mentoring — can be invaluable.
Once a key team member departs, particularly as the result of being poached, there are several things to always do.