Are You Upgrading Your Organization In 2011? Carpe-diem!
In more than 25 years in the search business, I have never seen a year with this amount of confidential replacement of “C-Level” and Executive Management talent. In a typical year, approximately 10% – 15% of our officer level search assignments are performance-related, and the remainder fall into the categories of retirement, promotion, and relocation. In 2010, we have seen a monumental increase in talent being removed from a critical role to be replaced with superior skills. We ask why? And why now?
It could be a confluence of events. The 2008 – 2009 downturn in the energy industry, lower turnover rates, coupled with M&A activity, concerns about an aging workforce, the economy, and gridlock in Washington have created an environment where many companies are afraid to make changes.
The best companies sense an opportunity and are acting on it to upgrade their talent. We see decisive CEO’s and/or Boards who are seizing the moment to acquire top talent (at reasonable prices) who can lead and execute, bringing new and innovative strategies in the next decade. The decision is easy — hire the best right now before the market improves and everyone locks down the best.
The market for the “best of the best” has never been more active. It may be prudent this year to carefully review your “exceptional and high potential talent” to confirm they are being properly trained, developed and compensated.