EXECUTIVE TALENT Volume Ten

IN THIS ISSUE
FINDING,
CULTIVATING
AND RETAINING
NEXT-GENERATION
LEADERS
THE FUTURE
OF BOARDS

PLUS
A COMMITMENT TO
CANDIDATE CARE
EL E V ATE 201 7
New Heights. Peak Results.
AESC European Conference
November 9, 2017 | Brussels
Join us for Elevate 2017 as we explore:
• Peak leadership.
• Heightened awareness.
• Elevated intelligence.

For registration inquiries, group bookings or more information,

please contact Clare Mahon (cmahon@aesc.org).
EXECUTIVE TALENT
The Global Magazine from the AESC
Contents
Volume Ten
6 The Emerging Business
Board of Directors
Imperative: Finding, Cultivating
Krista Walochik, Chair of the Board and Retaining Next-Generation
Chair, Talengo & Chair, The Global Community for Leaders
(TGCL) - Madrid Leaders
What are today’s C-suite leaders looking for in the next
Steve Mullinjer, Vice Chair of the Board ŐĞŶĞƌĂƟŽŶŽĨĞdžĞĐƵƟǀĞƚĂůĞŶƚ͍^ŝŶƚĞƌǀŝĞǁĞĚŵŽƌĞƚŚĂŶ
Regional Leader, Heidrick & Struggles - Hong Kong
ϴϱϬďƵƐŝŶĞƐƐůĞĂĚĞƌƐǁŽƌůĚǁŝĚĞƚŽĮŶĚŽƵƚ͘
Dinesh Mirchandani, Secretary Treasurer
Managing Director, Boyden - Mumbai
16 Perspectives on the Future, from
Thomas T. Daniels, Chair Emeritus
Senior Director & Partner, Spencer Stuart - New York the Next Gen in Executive Search
To meet the rapidly changing demands of today’s
Ineke Arts, Board Member ŽƌŐĂŶŝnjĂƟŽŶƐ͕ƚŚĞĞdžĞĐƵƟǀĞƐĞĂƌĐŚĂŶĚůĞĂĚĞƌƐŚŝƉĐŽŶƐƵůƟŶŐ
WĂƌƚŶĞƌ͕,ŽīŵĂŶΘƐƐŽĐŝĂƚĞƐͬ//WĂƌƚŶĞƌƐͲƌƵƐƐĞůƐ
profession is evolving to help clients tackle contemporary
Paul Benson, Board Member ĐŚĂůůĞŶŐĞƐ͘tĞǁĞŶƚƚŽŶĞdžƚŐĞŶĞƌĂƟŽŶĞdžĞĐƵƟǀĞƚĂůĞŶƚ
Senior Client Partner, Global Head of Infrastructure, advisors to glean insights on their vision for the future
ŽŶƐƚƌƵĐƟŽŶΘ^ĞƌǀŝĐĞƐ͕<ŽƌŶ&ĞƌƌLJͲ>ŽŶĚŽŶ of our profession.
Richard Boggis-Rolfe, Board Member
Chair, Odgers Berndtson - London
20 A Commitment to Candidate
Kate Bullis, Board Member
ŽͲ&ŽƵŶĚĞƌΘDĂŶĂŐŝŶŐWĂƌƚŶĞƌ͕^/ŶƚĞƌŶĂƟŽŶĂů͕
Care: Before, During and After the
>>Ͳ^ĂŶ&ƌĂŶĐŝƐĐŽ Assignment
ĂŶĚŝĚĂƚĞĐĂƌĞŝƐƚŚĞĞƚŚŝĐĂů͕ĐŽŶĮĚĞŶƟĂů͕ƌĞƐƉĞĐƞƵů
Dorota Czarnota, Board Member
Country Manager, Russell Reynolds Associates - Warsaw ĂŶĚƌĞƐƉŽŶƐŝǀĞƚƌĞĂƚŵĞŶƚŽĨĞdžĞĐƵƟǀĞĐĂŶĚŝĚĂƚĞƐ͘tĞ
explore the AESC commitment to candidate care and the
Karen Greenbaum, Board Member ĂƐƐŽĐŝĂƟŽŶ͛ƐƐĞƌǀŝĐĞƐĨŽƌŐůŽďĂůĐĂŶĚŝĚĂƚĞƐ͘
WƌĞƐŝĚĞŶƚĂŶĚŚŝĞĨdžĞĐƵƟǀĞKĸĐĞƌ͕^ͲEĞǁzŽƌŬ

Nobi Kaneko, Board Member

President, Kaneko & Associates - Tokyo
24 The Past, Present and Future of
Alan J. Kaplan, Board Member
Executive Search
&ŽƵŶĚĞƌΘŚŝĞĨdžĞĐƵƟǀĞKĸĐĞƌ͕<ĂƉůĂŶ
&ƌŽŵŝƚƐƉŽƐƚǁĂƌďĞŐŝŶŶŝŶŐƐƚŽƚŚĞƉƌĞƐŝĚĞŶƚĚĂLJ͕^
Partners - Philadelphia President and CEO, Karen Greenbaum shares with us a vi-
ďƌĂŶƚ͕ĐŽŵƉĞƟƟǀĞĂŶĚĚĞĞƉůLJƌĞůĞǀĂŶƚƉƌŽĨĞƐƐŝŽŶŶŽƚƐŝŵƉůLJ
Morten Nielsen, Board Member keeping pace with the global market for talent, but deliver-
Global Managing Director, Life Sciences,
tŝƩͬ<ŝĞīĞƌͲůĞǀĞůĂŶĚ ŝŶŐƐŽƉŚŝƐƟĐĂƚĞĚĂĚǀŝƐŽƌLJǁŽƌŬĂŶĚĞůĞǀĂƟŶŐůĞĂĚĞƌƐŚŝƉ
worldwide.
Stefan Spang, Board Member
Senior Partner, McKinsey & Company - Düsseldorf
28 The Future of Boards
,ĞŝŐŚƚĞŶĞĚƐĐƌƵƟŶLJ͕ĞŵƉŽǁĞƌĞĚŝŶǀĞƐƚŽƌƐ͕ƌŝƐŝŶŐ
ĐŽŵƉĞƟƟŽŶ͕ƌĞŐƵůĂƟŽŶĂŶĚƚĞĐŚŶŽůŽŐŝĐĂůĚŝƐƌƵƉƟŽŶŚĂǀĞ
combined with the record pace and unpredictability of
ĐŚĂŶŐĞƚŽĚƌĂŵĂƟĐĂůůLJĂůƚĞƌŚŽǁďŽĂƌĚƐĂƌĞĐŽŵƉƌŝƐĞĚĂŶĚ
how they operate. Enter the future boardroom.
Editorial Team
President & CEO
Karen Greenbaum
Writer & Editor
Martha Clement
38 The New School Approach to
Rochford Assessing Emerging Leaders
Managing Director, Global Senior Designer  LJ<ĂŶĚĂĐĞDŝůůĞƌ͕'ůŽďĂůŝƌĞĐƚŽƌŽĨDĂƌŬĞƟŶŐ͕dŚĞůƵĞŶ
DĂƌŬĞƟŶŐΘŽŵŵƵŶŝĐĂƟŽŶƐ Don Hailer  ŽƌƉŽƌĂƟŽŶ
Joe Chappell

40 What Does the GDPR Mean for

The Association of Executive Search?
Executive Search and
 LJŶĚLJtĂƌƌĞŶ͕&KĂŶĚŚŝĞĨ/ŶĨŽƌŵĂƟŽŶ^ĞĐƵƌŝƚLJKĸĐĞƌ͕
Leadership Consultants
www.aesc.org Invenias
 Welcome to the Next Gen issue
from Karen Greenbaum, AESC President & CEO
I
n this issue of džĞĐƵƟǀĞ dĂůĞŶƚ, we explore the next
ŐĞŶĞƌĂƟŽŶŽĨĞdžĞĐƵƟǀĞůĞĂĚĞƌƐŚŝƉ͘^ĞŶŝŽƌĞdžĞĐƵƟǀĞƐ
worldwide grapple with keeping pace in a climate of
constant uncertainty and lightning fast change, in a new
ǁŽƌůĚŽƌĚĞƌƚŚĂƚĨĞĞůƐĨƵŶĚĂŵĞŶƚĂůůLJĚŝīĞƌĞŶƚƚŚĂŶǁŚĂƚ
came before. Yet, beneath the anxiety emerge ripples of
a new vision for global business—a clear glimpse of the
opportunity that lies ahead as we boldly ride the crest of
a new era.
ͻĂďLJŽŽŵĞƌƐĂƌĞƌĞƟƌŝŶŐŝŶĚƌŽǀĞƐŝŶĚĞǀĞůŽƉĞĚŵĂƌŬĞƚƐ
around the world, leaving senior management roles across
industries without successors. Is senior management
ŚĞĂĚĞĚƐƚƌĂŝŐŚƚŽīĂĐůŝīŽƌĂďŽƵƚƚŽƐĞƚƐĂŝůŽŶƚŚĞĐƌĞƐƚ
ŽĨ Ă ŶĞǁ ǁĂǀĞ͍ tĞ ǁĂŶƚĞĚ ƚŽ ďĞƩĞƌ ƵŶĚĞƌƐƚĂŶĚ ƚŚŝƐ
ŐĞŶĞƌĂƟŽŶĂůƚƌĂŶƐŝƟŽŶŽĨůĞĂĚĞƌƐŚŝƉ͕ƐŽǁĞƐƵƌǀĞLJĞĚŵŽƌĞ
than 850 business leaders worldwide, across industries
and geographies, to glean their insights on their biggest
ŽƌŐĂŶŝnjĂƟŽŶĂůĐŚĂůůĞŶŐĞƐƚŽĚĂƚĞ͘
ͻdŽŐĂŝŶĂďĞƩĞƌƐĞŶƐĞŽĨǁŚĞƌĞŽƵƌƉƌŽĨĞƐƐŝŽŶŝƐŚĞĂĚĞĚ
ĂŶĚǁŚĂƚǁĞŶĞĞĚƚŽĚŽƚŽĞŶƐƵƌĞŽƉƟŵĂůƐƵĐĐĞƐƐǁŚĞŶ
ǁĞŐĞƚƚŚĞƌĞ͕ǁĞƐƉŽŬĞǁŝƚŚϯϬŶĞdžƚŐĞŶĞƌĂƟŽŶĞdžĞĐƵƟǀĞ
search and leadership consultants from AESC member
ĮƌŵƐŝŶĚŝīĞƌĞŶƚŵĂƌŬĞƚƐĂƌŽƵŶĚƚŚĞǁŽƌůĚ͕ĨƌŽŵEĞǁzŽƌŬ
and London to São Paulo and Shanghai. We asked them to
share with us: What they like most about our profession;
tŚĂƚĐŽƵůĚďĞŝŵƉƌŽǀĞĚ͖,ŽǁďĞƐƚƚŽĂƩƌĂĐƚ͕ƌĞƚĂŝŶĂŶĚ
ĚĞǀĞůŽƉ ŶĞdžƚ ŐĞŶĞƌĂƟŽŶ ĞdžĞĐƵƟǀĞ ƚĂůĞŶƚ ĂĚǀŝƐŽƌƐ͖ tŚĂƚ
ĐůŝĞŶƚƐ ĐĂŶ ĚŽ ƚŽ ďĞƐƚ ůĞǀĞƌĂŐĞ ƚŚĞ ŶĞdžƚ ŐĞŶĞƌĂƟŽŶ ŽĨ
leaders.
• Candidate care is an important aspect of our profession,
ďƵƚ ǁŚĂƚ ĚŽĞƐ ŝƚ ŵĞĂŶ͍ ĂŶĚŝĚĂƚĞ ĐĂƌĞ ŝƐ ƚŚĞ ĞƚŚŝĐĂů͕
ĐŽŶĮĚĞŶƟĂů͕ ƌĞƐƉĞĐƞƵů͕ ĂŶĚ ƌĞƐƉŽŶƐŝǀĞ ƚƌĞĂƚŵĞŶƚ ŽĨ
ĞdžĞĐƵƟǀĞ ĐĂŶĚŝĚĂƚĞƐ͘ tĞ ĞdžƉůŽƌĞ ƚŚĞ ŵĂŶLJ ǁĂLJƐ ƚŚĞ
ƉƌŽĨĞƐƐŝŽŶĂŶĚƚŚĞĂƐƐŽĐŝĂƟŽŶĂƌĞĞŶƐƵƌŝŶŐĐĂŶĚŝĚĂƚĞĐĂƌĞ
today.
ͻ džĞĐƵƟǀĞ ƐĞĂƌĐŚ ŚĂƐ ĂůǁĂLJƐ ďĞĞŶ ƉĂƌƚ ŽĨ ĂŶ ĂĚǀŝƐŽƌLJ
ƌĞůĂƟŽŶƐŚŝƉ͕ ďƵƚ ŚŽǁ ĚŝĚ ĞdžĞĐƵƟǀĞ ƐĞĂƌĐŚ ĞǀŽůǀĞ ŝŶƚŽ
ƚŚĞ ŚŝŐŚ ŝŵƉĂĐƚ ƉƌŽĨĞƐƐŝŽŶ ŝƚ ŝƐ ƚŽĚĂLJ͍ tĞ ĚĞĐŝĚĞĚ
ƚŽ ĞdžƉůŽƌĞ ƚŚĞ ĞǀŽůƵƟŽŶ ŽĨ ĞdžĞĐƵƟǀĞ ƐĞĂƌĐŚ͕ ĨƌŽŵ ŝƚƐ
postwar beginnings to the present day. What we found
ŝƐ Ă ǀŝďƌĂŶƚ͕ ĐŽŵƉĞƟƟǀĞ͕ ĂŶĚ ĚĞĞƉůLJ ƌĞůĞǀĂŶƚ ƉƌŽĨĞƐƐŝŽŶ
not simply keeping pace with the global market for talent,
ďƵƚ ĚĞůŝǀĞƌŝŶŐ ƐŽƉŚŝƐƟĐĂƚĞĚ ĂĚǀŝƐŽƌLJ ǁŽƌŬ͕ ĞůĞǀĂƟŶŐ
leadership worldwide.
ͻ'ůŽďĂůůLJ͕ďŽĂƌĚƌŽŽŵƐĂƌĞĞǀŽůǀŝŶŐ͘,ĞŝŐŚƚĞŶĞĚƐĐƌƵƟŶLJ͕
ĞŵƉŽǁĞƌĞĚ ŝŶǀĞƐƚŽƌƐ͕ ƌŝƐŝŶŐ ĐŽŵƉĞƟƟŽŶ͕ ƌĞŐƵůĂƟŽŶ ĂŶĚ
ƚĞĐŚŶŽůŽŐŝĐĂů ĚŝƐƌƵƉƟŽŶ ŚĂǀĞ ĐŽŵďŝŶĞĚ ǁŝƚŚ ƚŚĞ ƌĞĐŽƌĚ
ƉĂĐĞ ĂŶĚ ƵŶƉƌĞĚŝĐƚĂďŝůŝƚLJ ŽĨ ĐŚĂŶŐĞ ƚŽ ĚƌĂŵĂƟĐĂůůLJ
alter how boards are comprised and how they operate.
We explore how this perfect storm is shaking up board
ĐŽŵƉŽƐŝƟŽŶ͕ĞdžƉĂŶĚŝŶŐĂŶĚƌĞĚĞĮŶŝŶŐǁŚĂƚŝƐĞdžƉĞĐƚĞĚŽĨ
boards, and fundamentally changing what it means to be
a director.
ͻ<ĂŶĚĂĐĞDŝůůĞƌ͕'ůŽďĂůŝƌĞĐƚŽƌŽĨDĂƌŬĞƟŶŐĂƚdŚĞůƵĞŶ
ŽƌƉŽƌĂƟŽŶ͕ ƐŚĂƌĞƐ ǁŝƚŚ ƵƐ ƚŚĞ ŶĞǁ ƐĐŚŽŽů ĂƉƉƌŽĂĐŚ ƚŽ
assessing emerging leaders.
ͻŶĚLJtĂƌƌĞŶ͕&KĂŶĚŚŝĞĨ/ŶĨŽƌŵĂƟŽŶ^ĞĐƵƌŝƚLJKĸĐĞƌ
at Invenias, provides insights on what the GDPR means for
ĞdžĞĐƵƟǀĞƐĞĂƌĐŚ͘
dŚĂŶŬ LJŽƵ ƚŽ ƚŚĞ ŵĂŶLJ ŝŶĚŝǀŝĚƵĂůƐ ĂŶĚ ĮƌŵƐ ǁŚŽ
ƉĂƌƟĐŝƉĂƚĞĚ ŝŶ ƚŚĞ ŝŶƚĞƌǀŝĞǁƐ ĂŶĚ ĐŽŶƚƌŝďƵƚĞĚ ƚŽ ƚŚĞ
research for this issue of džĞĐƵƟǀĞ dĂůĞŶƚ. As always, I
ǁĞůĐŽŵĞ LJŽƵƌ ĨĞĞĚďĂĐŬ ŽŶ Ăůů ŵĂƩĞƌƐ ƌĞůĂƟŶŐ ƚŽ ŐůŽďĂů
ĞdžĞĐƵƟǀĞƚĂůĞŶƚ͘tĞůĐŽŵĞƚŽƚŚĞŶĞdžƚŐĞŶŝƐƐƵĞ͊
džĞĐƵƟǀĞdĂůĞŶƚͲϱ
 The Emerging Business
Imperative: Finding,
Cultivating and Retaining
Next-Generation Leaders
W
hat are CEOs and C-Suite
ĞdžĞĐƵƟǀĞƐ ůŽŽŬŝŶŐ ĨŽƌ ŝŶ
ƚŚĞ ŶĞdžƚ ŐĞŶĞƌĂƟŽŶ ŽĨ
ŽƌŐĂŶŝnjĂƟŽŶĂů ůĞĂĚĞƌƐ͍ tŚĂƚ ƐŬŝůůƐ ĂŶĚ
ƋƵĂůŝƟĞƐ ĚŽ ĨƵƚƵƌĞ ĞdžĞĐƵƟǀĞƐ ƌĞƋƵŝƌĞ ƚŽ
ůĞĂĚ ĞīĞĐƟǀĞůLJ ŝŶ Ă ĐŚĂŶŐŝŶŐ ǁŽƌůĚ͕ ĂŶĚ
ŚŽǁ ǁŝůů ĐƵƌƌĞŶƚ ůĞĂĚĞƌƐ ĂƩƌĂĐƚ͕ ĚĞǀĞůŽƉ
and retain the talent necessary for their
ŽƌŐĂŶŝnjĂƟŽŶƐƚŽƚŚƌŝǀĞŝŶƚŚĞĨƵƚƵƌĞ͍
In AESC’s largest client survey to date,
respondents provided telling insights about
ŚŽǁƚŚĞLJĂƌĞƉƌĞƉĂƌŝŶŐƚŚĞŶĞdžƚŐĞŶĞƌĂƟŽŶ
for leadership roles, what they are looking
for in emerging leaders, and how they
ĐĂŶ ĂƉƉĞĂů ƚŽ Ă ŶĞǁ ŐĞŶĞƌĂƟŽŶ ŽĨ ŚŝŐŚͲ
ƉŽƚĞŶƟĂůƚĂůĞŶƚ͘/ŶƚĞƌǀŝĞǁƐǁŝƚŚƐĞǀĞƌĂůƚŽƉ
ĞdžĞĐƵƟǀĞƐ ďŽƚŚ ƌĞŝŶĨŽƌĐĞĚ ƚŚŽƐĞ ĮŶĚŝŶŐƐ
and shed new light on the future of the
ͲƐƵŝƚĞĂŶĚƚŚĞŽƌŐĂŶŝnjĂƟŽŶƐƚŚĞLJůĞĂĚ͘
KƵƌ ĮŶĚŝŶŐƐ ƐƵŐŐĞƐƚ ƚŚĂƚ ůĞĂĚĞƌƐ ĂƌĞ
ĨŽĐƵƐĞĚ ŽŶ ďƌŽĂĚ ĞdžĞĐƵƟǀĞ ƐƵĐĐĞƐƐŝŽŶ
planning, and are working under increasing
pressure. Our respondents project a high
ϲͲdžĞĐƵƟǀĞdĂůĞŶƚ
level of anxiety related to how they and their
ŽƌŐĂŶŝnjĂƟŽŶƐĐĂŶŐƌĂƉƉůĞǁŝƚŚƚŚĞƉĂĐĞĂŶĚ
nature of change, and how to determine
who will be best equipped to lead their
ŽƌŐĂŶŝnjĂƟŽŶƐƚŚƌŽƵŐŚƚŚĂƚĐŚĂŶŐĞ͘
That pressure is compounded by the fact
that the clock is running out on the transfer
of leadership. Baby Boomers are aging out
of the workforce. As recently as 2015, 68%
ŽĨKƐǁĞƌĞ'ĞŶyĞƌƐ͕ĚĞŵŽŶƐƚƌĂƟŶŐƚŚĞ
ůĞĂĚĞƌƐŚŝƉ ƚƌĂŶƐŝƟŽŶ ŝŶ ƉƌŽŐƌĞƐƐ͘ Ƶƚ ĞǀĞŶ
if younger Gen Xers can be fully prepared
ĨŽƌ ĞdžĞĐƵƟǀĞ ůĞĂĚĞƌƐŚŝƉ͕ ƚŚĂƚ ŐĞŶĞƌĂƟŽŶĂů
ĐŽŚŽƌƚ ƐŝŵƉůLJ ŝƐŶ͛ƚ ďŝŐ ĞŶŽƵŐŚ ƚŽ Įůů ƚŚĞ
ŐĂƉ ůĞŌ ďLJ ƌĞƟƌŝŶŐ ŽŽŵĞƌƐ͘ DŝůůĞŶŶŝĂůƐ͕
ƌĞŐĂƌĚůĞƐƐŽĨƚŚĞŝƌƌĞůĂƟǀĞůLJĨĞǁĞƌLJĞĂƌƐŝŶ
the workforce, will have to take on some of
those roles.
KƌŐĂŶŝnjĂƟŽŶĂů ůĞĂĚĞƌƐ ĂƌĞ ƚƌLJŝŶŐ ƚŽ
ĞŶƐƵƌĞƚŚĂƚƚŚĞŶĞdžƚŐĞŶĞƌĂƟŽŶŽĨůĞĂĚĞƌƐͶ
Gen Xers and Millennials—will be prepared
ƚŽƐƚĞƉŝŶƚŽĞdžĞĐƵƟǀĞƌŽůĞƐďLJƚŚĞƟŵĞƚŚĞLJ
are required to lead.
Survey Overview ͞EĞdžƚ'ĞŶĞƌĂƟŽŶŝƐŵŽƌĞŽƉĞŶ
KǀĞƌ ϴϱϬ ĞdžĞĐƵƟǀĞƐ ĨƌŽŵ ĂƌŽƵŶĚ ƚŚĞ ǁŽƌůĚ͕ ƌĞƉƌĞƐĞŶƟŶŐ Ă ƚŽĐŚĂŶŐĞĂŶĚĂĚĂƉƟŶŐŶĞǁ
wide range of business sectors—from technology to professional ŝĚĞĂƐ͕ǁŚŝĐŚŝƐŝŵƉŽƌƚĂŶƚĨŽƌ
ƐĞƌǀŝĐĞƐ͕ ĨƌŽŵ ŶŽŶͲƉƌŽĮƚƐ ƚŽ ϭϬϬ LJĞĂƌͲŽůĚ ŝŶĚƵƐƚƌŝĂů ĮƌŵƐͶ ĐŽŵƉĂŶŝĞƐƚŽŬĞĞƉĞǀŽůǀŝŶŐĂŶĚ
contributed to the research. The survey sample included family- ŐƌŽǁŝŶŐŝŶƚŽĚĂLJ͛ƐǁŽƌůĚ͘͟
ŽǁŶĞĚĂŶĚŽƉĞƌĂƚĞĚƌĞŐŝŽŶĂůĞŶƚĞƌƉƌŝƐĞƐƚŽůĂƌŐĞ͕ŵƵůƟͲŶĂƟŽŶĂů ͲZĞŐŝŽŶĂůͬŝǀŝƐŝŽŶ,ĞĂĚ͕
ĐŽƌƉŽƌĂƟŽŶƐ͘ ĐƌŽƐƐ ƚŚĞƐĞ ďƌŽĂĚ ƌĂŶŐĞƐ͕ ǁĞ ĨŽƵŶĚ ƚŚĂƚ ŵĂŶLJ ŽŶƐƵŵĞƌͬZĞƚĂŝůƐĞĐƚŽƌ͕/ŶĚŝĂ
ŽĨ ƚŚĞ ĞdžĞĐƵƟǀĞƐ ƐƵƌǀĞLJĞĚ ĂƌĞ ĂůƌĞĂĚLJ ĞŵƉůŽLJŝŶŐ ƌĞĐƌƵŝƚŵĞŶƚ͕
ƌĞƚĞŶƟŽŶ͕ĂŶĚƉƌŽĨĞƐƐŝŽŶĂůĚĞǀĞůŽƉŵĞŶƚƐƚƌĂƚĞŐŝĞƐƚĂŝůŽƌĞĚƚŽĂ
new kind of emerging leader. The responses suggest that business
ůĞĂĚĞƌƐ ŚĂǀĞ ĂŶƟĐŝƉĂƚĞĚ ǁŚĂƚ ƚŚĞ ůĂƚĞƐƚ ƌĞƐĞĂƌĐŚ ŝƐ ƚĞůůŝŶŐ ƵƐ
ĂďŽƵƚǁŚĂƚŵŽƟǀĂƚĞƐŶĞdžƚŐĞŶĞƌĂƟŽŶƚĂůĞŶƚ͘
tŚĞŶĂƐŬĞĚ͚tŚLJŝƐďƵŝůĚŝŶŐƚŚĞŶĞdžƚŐĞŶĞƌĂƟŽŶŽĨĞdžĞĐƵƟǀĞ
ƚĂůĞŶƚ ŝŵƉŽƌƚĂŶƚ ĨŽƌ LJŽƵƌ ŽƌŐĂŶŝnjĂƟŽŶ͍͛ ƚŚĞ ƐĞǀĞƌĂůͲŚƵŶĚƌĞĚ
ŽƉĞŶͲĞŶĚĞĚƌĞƐƉŽŶƐĞƐĨƌŽŵĞdžĞĐƵƟǀĞƐĂƌŽƵŶĚƚŚĞǁŽƌůĚĐŽǀĞƌĞĚ
a wide range of answers, including the growth and sustainability
ŽĨ ƚŚĞ ŽƌŐĂŶŝnjĂƟŽŶ͕ ĐŽŶƟŶƵŝƚLJ ĂŶĚ ƐƵĐĐĞƐƐŝŽŶ ƉůĂŶŶŝŶŐ͕
ĐŽŵƉĞƟƟŽŶ͕ĂŶĚĞǀĞŶƐƵƌǀŝǀĂů͘^ŽŵĞĞdžĞĐƵƟǀĞƐĂŶƐǁĞƌĞĚƚŚĂƚ
building next gen talent was important for building culture and
ĞŵƉĂƚŚLJ͕ďƵŝůĚŝŶŐĂďĞƩĞƌǁŽƌůĚ͕ĂŶĚƚŽďŽƚŚĨĂĐĞ͕ĂŶĚĐƌĞĂƚĞ͕
ĚŝƐƌƵƉƟŽŶ͘

KƚŚĞƌŬĞLJƋƵĞƐƟŽŶƐĂĚĚƌĞƐƐĞĚŝŶƚŚĞƐƵƌǀĞLJŝŶĐůƵĚĞ͗

1. tŚĂƚĐĂŶLJŽƵĚŽĂƐĂďƵƐŝŶĞƐƐƚŽĂƩƌĂĐƚĂŶĚƌĞƚĂŝŶƚŽƉ
EĞdžƚ'ĞŶĞdžĞĐƵƟǀĞƚĂůĞŶƚ͍
2. tŚĂƚĂƌĞƚŚĞƚŽƉƉƌŝŽƌŝƟĞƐŝŶLJŽƵƌŽƌŐĂŶŝnjĂƟŽŶƌĞůĂƚĞĚ
ƚŽĚĞǀĞůŽƉŝŶŐEĞdžƚ'ĞŶůĞĂĚĞƌƐ͍
3. tŚĂƚ ĂƌĞ ƚŚĞ ƚŽƉ ƚŚƌĞĞ ůĞĂĚĞƌƐŚŝƉ ƋƵĂůŝƟĞƐ ŽĨ ƚŚĞ
EĞdžƚ 'ĞŶ ŽĨ ĞdžĞĐƵƟǀĞ ƚĂůĞŶƚ ƚŚĂƚ ĐŽƵůĚ ĞŶŚĂŶĐĞ LJŽƵƌ
ŽƌŐĂŶŝnjĂƟŽŶ͍
4. ,ŽǁĐĂŶĞdžĞĐƵƟǀĞƐĞĂƌĐŚĂŶĚůĞĂĚĞƌƐŚŝƉĂĚǀŝƐŽƌƐŚĞůƉ
LJŽƵďƵŝůĚEĞdžƚ'ĞŶĞdžĞĐƵƟǀĞƚĂůĞŶƚŝŶLJŽƵƌŽƌŐĂŶŝnjĂƟŽŶ͍
5. In your industry, what are some of the challenges next
gen leaders will face in the future, and what are the
ƐŬŝůůƐ͕ĞdžƉĞƌŝĞŶĐĞƐ͕ĐŽŶĚŝƟŽŶƐĂŶĚͬŽƌƌĞƐŽƵƌĐĞƐƚŚĂƚǁŝůů
ŚĞůƉƚŚĞŵĨĂĐĞƚŚŽƐĞĐŚĂůůĞŶŐĞƐ͍

džĞĐƵƟǀĞdĂůĞŶƚͲϳ
 ͞tĞŶĞĞĚůĞĂĚĞƌƐďĞLJŽŶĚƚŚĞ
ͲƐƵŝƚĞƚŽĂĐƚƵĂůůLJĚƌŝǀĞĐŚĂŶŐĞ͘
dŽďĞŇĞdžŝďůĞ͕LJŽƵŶĞĞĚŵŽƌĞ
ĂƌƟĐƵůĂƟŽŶƐ͘dĂůĞŶƚĨƌŽŵ
ƚŚĞEĞdžƚ'ĞŶĞƌĂƟŽŶŝƐŵŽƌĞ
ĐĂƉĂďůĞŽĨƵŶĚĞƌƐƚĂŶĚŝŶŐǁŚĂƚ
ŝƐĐƵƌƌĞŶƚůLJŚĂƉƉĞŶŝŶŐ͘͟ͲK͕
&ŝŶĂŶĐŝĂů^ĞƌǀŝĐĞƐ͕ĞŶƚƌĂůΘ
ĂƐƚĞƌŶƵƌŽƉĞ
ϴͲdžĞĐƵƟǀĞdĂůĞŶƚ
Setting the stage: What research on the next
generation is telling us.
tŚŝůĞ ŽƵƌ ƐƵƌǀĞLJ ŝƐ ĨŽĐƵƐĞĚ ŽŶ ŽƌŐĂŶŝnjĂƟŽŶƐ ĂŶĚ EĞdžƚ 'ĞŶ ĞdžĞĐƵƟǀĞ
talent, there is a growing body of general knowledge about the cohorts that
ǁŝůůĞǀĞŶƚƵĂůůLJƌĞƉůĂĐĞƚŚĞĞdžŝƐƟŶŐŐĞŶĞƌĂƟŽŶŽĨĞdžĞĐƵƟǀĞůĞĂĚĞƌƐŚŝƉ͘dŚĞƐĞ
ŝŶƐŝŐŚƚƐǁŝůůƉƌŽǀŝĚĞĂĨŽƵŶĚĂƟŽŶĨŽƌŽƵƌƵŶĚĞƌƐƚĂŶĚŝŶŐŽĨEĞdžƚ'ĞŶůĞĂĚĞƌƐ͘
EY GLOBAL GENERATIONS 3.0:
͞'ĞŶyŝƐƚŚĞůĞĂƐƚůŝŬĞůLJƚŽƚƌƵƐƚĂŵŽŶŐƚŚĞŐĞŶĞƌĂƟŽŶƐ͘͟
DELOITTE MILLENNIAL SURVEY 2017:
͞ϯϴƉĞƌĐĞŶƚŽĨDŝůůĞŶŶŝĂůƐŐůŽďĂůůLJǁŽƵůĚůĞĂǀĞƚŚĞŝƌũŽďƐǁŝƚŚŝŶƚǁŽLJĞĂƌƐ͘͟
PóC’S NEXTGEN, A GLOBAL GENERATIONAL STUDY:
ϲϬйŽĨDŝůůĞŶŶŝĂůƐǁŽƵůĚůŝŬĞƚŽŚĂǀĞƚŚĞŇĞdžŝďŝůŝƚLJƚŽŽĐĐĂƐŝŽŶĂůůLJǁŽƌŬĨƌŽŵ
ŚŽŵĞ͕ĂŶĚƐŚŝŌƚŚĞŝƌǁŽƌŬŚŽƵƌƐ͘
ϮϬϭϭ^dhzzd,EdZ&KZtKZ<ͳ>/&WK>/z͗
͞EĞĂƌůLJĂƚŚŝƌĚŽĨŚŝŐŚͲĞĂƌŶŝŶŐ'ĞŶyĞƌƐǁŽƌŬϲϬнŚŽƵƌƐĂǁĞĞŬ͘͟
FINANCIAL TIMES, 2015:
The global average age of CEOs is 55 years old.
dŚĞ ƚĂůĞŶƚ ƉŽŽůƐ ĨƌŽŵ ǁŚŝĐŚ ŶĞdžƚ ŐĞŶ ĞdžĞĐƵƟǀĞƐ ǁŝůů ĂƌŝƐĞ ŚĂǀĞ
ĐŚĂƌĂĐƚĞƌŝƐƟĐƐƚŚĂƚŝŶŇƵĞŶĐĞǁŚĂƚŬŝŶĚƐŽĨŽƌŐĂŶŝnjĂƟŽŶƐƚŚĞLJĮŶĚĂƩƌĂĐƟǀĞ͕
ŚŽǁƚŚĞLJĐĂŶďĞƌĞƚĂŝŶĞĚ͕ĂŶĚǁŚĂƚƋƵĂůŝƟĞƐƚŚĞLJĂƌĞŵŽƐƚůŝŬĞůLJƚŽƉŽƐƐĞƐƐ͘
dŚĞŐĞŶĞƌĂƟŽŶĐƵƌƌĞŶƚůLJůĞĂĚŝŶŐĂůŽŶŐƐŝĚĞĂďLJŽŽŵĞƌƐ͕ĂŶĚĐůŽƐĞƐƚͲŝŶͲůŝŶĞ
ƚŽĨƵƚƵƌĞĞdžĞĐƵƟǀĞƌŽůĞƐ͕ŝƐ'ĞŶĞƌĂƟŽŶy͘
Tamara Erickson of Right Management observes that several countries have
ĂŶĂŵĞĨŽƌǁŚĂƚEŽƌƚŚŵĞƌŝĐĂŶƐĐĂůů'ĞŶĞƌĂƟŽŶy͕͞ŵĂŶLJŽĨǁŚŝĐŚƌĞŇĞĐƚ
Ă ƐĞŶƐĞ ŽĨ ĚŝƐĞŶĐŚĂŶƚŵĞŶƚ Žƌ ĚŝƐĞŶĨƌĂŶĐŚŝƐĞŵĞŶƚ͕ ŝŶĐůƵĚŝŶŐ 'ĞŶĞƌĂƟŽŶ
ŽĨ ;ǁŚĂƚĞǀĞƌͿ ŝŶ &ƌĂŶĐĞ͖ ƚŚĞ ƵƌŶƚ 'ĞŶĞƌĂƟŽŶ ŝŶ /ƌĂŶ͕ ƌĞƉƌĞƐĞŶƟŶŐ ƚŚŽƐĞ
ŵŽƐƚŶĞŐĂƟǀĞůLJĂīĞĐƚĞĚďLJƚŚĞƉŽůŝƟĐĂůĂŶĚƐŽĐŝĂůĐŽŶƐĞƋƵĞŶĐĞƐŽĨƚŚĞϭϵϳϵ
ƌĞǀŽůƵƟŽŶ͖ĂŶĚƚŚĞƌŝƐŝƐ'ĞŶĞƌĂƟŽŶŝŶƐŽŵĞ
>ĂƟŶŵĞƌŝĐĂŶĐŽƵŶƚƌŝĞƐ͕ƌĞŇĞĐƟŶŐƚŚŽƐĞǁŚŽ
ĐĂŵĞ ŽĨ ĂŐĞ ĚƵƌŝŶŐ ƚŚĞ ƌĞĐƵƌƌŝŶŐ ĮŶĂŶĐŝĂů
ƚƌŽƵďůĞƐŝŶƚŚĞƌĞŐŝŽŶ͘͟
ĐŽŶŽŵŝĐ ƵŶĐĞƌƚĂŝŶƚLJ ĂŶĚ ĚŽŵĞƐƟĐ ƐŽĐŝĂů
change were common themes in many
ĐŽƵŶƚƌŝĞƐ ĚƵƌŝŶŐ 'ĞŶĞƌĂƟŽŶ y͛Ɛ ĨŽƌŵĂƟǀĞ
years. Gen Xers learned to be resourceful,
ĐŽŶƐŝĚĞƌ ŵƵůƟƉůĞ ŽƉƟŽŶƐ͕ ĂŶĚ ĂĚĂƉƚ͘
'ĞŶĞƌĂƟŽŶ y ŚĂƐ ďĞĞŶ ĚĞĂůƚ ůŝĨĞ ĞdžƉĞƌŝĞŶĐĞƐ
ƚŚĂƚƉƌĞƉĂƌĞĚƚŚĞŵĨŽƌŶĂǀŝŐĂƟŶŐƵŶĐĞƌƚĂŝŶƚLJ͘
dŚĞĐŚŝůĚƌĞŶďŽƌŶƚŽ'ĞŶĞƌĂƟŽŶyǁĞƌĞŵŽƐƚ
likely to experience two-income households,
ĚŝǀŽƌĐĞ ǁĂƐ ŽŶ ƚŚĞ ƌŝƐĞ͕ ǁŝƚŚ ƚŚĞ ƌĞƐƵůƟŶŐ
single-parent households and therefore this
ŐĞŶĞƌĂƟŽŶ ůĞĂƌŶĞĚ ƚŽ ďĞ ŝŶĚĞƉĞŶĚĞŶƚ͘ dŚĞ
waves of economic upheaval they experienced
ƚŚƌŽƵŐŚƚŚĞϮϬϬϭĚŽƚĐŽŵĐƌĂƐŚĂŶĚƚŚĞϮϬϬϳ
global economic crisis may have contributed
to Gen Xers’ resiliency and adaptability, as well
as their focus on developing job skills they can
carry with them.
'ĞŶyĞƌƐĂƌĞŝŶŶŽǀĂƟǀĞĂŶĚĞŶƚƌĞƉƌĞŶĞƵƌŝĂů͕
and the cohort includes the founders of some
ŽĨ ƚŚĞ ǁŽƌůĚ͛Ɛ ŵŽƐƚ ĚŝƐƌƵƉƟǀĞ ĐŽŵƉĂŶŝĞƐ͕
ŝŶĐůƵĚŝŶŐ Ğůů͕ dǁŝƩĞƌ͕ WĂLJWĂů͕ 'ŽŽŐůĞ͕ ĞĂLJ͕
and Square.
ĐĐŽƌĚŝŶŐ ƚŽ ĮŶĂŶĐŝĂů ƉůĂŶŶŝŶŐ ŝŶĚƵƐƚƌLJ
expert Michael Kitces, Gen Xers “will vet you in
three or four places online, so before they ever
meet you they’ll know what you do, what you
say you do and how much you charge. If you
say something on your website that’s wrong or
ŵŝƐůĞĂĚŝŶŐ͕LJŽƵ͛ůůůŽƐĞƚŚĞŝƌƚƌƵƐƚĨŽƌĞǀĞƌ͘͟'ĞŶ
yĞƌƐ ĂƌĞ ƐŬĞƉƟĐĂů͕ ƐŽ ŝŶ ŽƌĚĞƌ ƚŽ ĂƩƌĂĐƚ ĂŶĚ
ŬĞĞƉ ƚŚĞŵ͕ ďƌĂŶĚƐ ƐŚŽƵůĚ ďĞ ĂƵƚŚĞŶƟĐ ĂŶĚ
transparent.
ƐĨŽƌƚŚĞŶĞdžƚŐĞŶĞƌĂƟŽŶŝŶůŝŶĞ͕ŝƚŝƐǁŽƌƚŚ
remembering that Millennials are digital
ŶĂƟǀĞƐ͘dŚĞLJĂƌĞƚŚĞĮƌƐƚŐĞŶĞƌĂƟŽŶ ƚŽŐƌŽǁ
up with many of the technological advances
ƚŚĂƚǁĞƌĞŚƵŐĞůLJĚŝƐƌƵƉƟǀĞŝŶƚŚĞĞdžƉĞƌŝĞŶĐĞŽĨ
ƚŚĞƉƌĞǀŝŽƵƐŐĞŶĞƌĂƟŽŶ͕ĂŶĚƚŚĞŝƌĞŵƉůŽLJĞƌƐ͗
including cell phones, streaming video, social
networks, online shopping, and the Internet.
Perhaps the near-immediate and constant
ĨĞĞĚďĂĐŬƚŚƌŽƵŐŚ͞ůŝŬĞƐ͟ĂŶĚ͞ƐŚĂƌĞƐ͟ŽŶƐŽĐŝĂů
ŵĞĚŝĂ ŚĂƐ ŝŶŇƵĞŶĐĞĚ DŝůůĞŶŶŝĂůƐ͛ ƉƌĞĨĞƌĞŶĐĞ
ĨŽƌ ĨƌĞƋƵĞŶƚ ĨĞĞĚďĂĐŬ ĂŶĚ ĂĸƌŵĂƟŽŶ ŝŶ
ƚŚĞ ǁŽƌŬƉůĂĐĞ͍ dŚĞ Wǁ ƐƚƵĚLJ ƌĞǀĞĂůĞĚ
that Millennials place a high value on being
“supported and appreciated in return for their
ĐŽŶƚƌŝďƵƟŽŶƐ͘͟
WĞƌŚĂƉƐ ƚŚĞ ƵďŝƋƵŝƚLJ ŽĨ ŝŶĨŽƌŵĂƟŽŶ ŽŶ
ŽƌŐĂŶŝnjĂƟŽŶƐ͕ ƚŚĞŝƌ ďĞŚĂǀŝŽƌƐ͕ ƚŚĞŝƌ ǀĂůƵĞƐ͕
ĂŶĚ ƚŚĞŝƌ ƉĞƌĨŽƌŵĂŶĐĞ͕ ĂŶĚ ĞǀĞŶ ƌĂƟŶŐƐ ďLJ
ĐƵƐƚŽŵĞƌƐĂŶĚĞŵƉůŽLJĞĞƐŚĂƐŝŶŇƵĞŶĐĞĚŚŽǁ
DŝůůĞŶŶŝĂůƐĐŚŽŽƐĞƚŚĞŝƌĞŵƉůŽLJĞƌƐ͍ĐĐŽƌĚŝŶŐ
to Henrik Bresman, associate professor at
Insead and Academic Director of the HEAD
&ŽƵŶĚĂƟŽŶ͕ ͞dŚĞ ĨƵŶĚĂŵĞŶƚĂů ƌĞĂƐŽŶ ǁĞ
ĐĂŶ ĞdžƉĞĐƚ ƚŚĞ DŝůůĞŶŶŝĂů ŐĞŶĞƌĂƟŽŶ ƚŽ ďĞ
ĚŝīĞƌĞŶƚ͕ ĂŶĚ ŝŶ Ă ĚƌĂŵĂƟĐĂůůLJ ĚŝīĞƌĞŶƚ ǁĂLJ
ĨƌŽŵ ƉƌĞǀŝŽƵƐ ŐĞŶĞƌĂƟŽŶƐ͕ ŝƐ ƚŚĞ ŝŶĨŽƌŵĂƟŽŶ
ƌĞǀŽůƵƟŽŶŶŽǁƵŶĨŽůĚŝŶŐĂŶĚƚŚĞĞdžƉůŽƐŝŽŶŽĨ
ƉŽƐƐŝďŝůŝƟĞƐƚŚŝƐƉƌĞƐĞŶƚƐ͘͟
1.1 What can
businesses do to
attract next gen
executive talent?
͞Ɛ Ă ^ŽŌǁĂƌĞͬdĞĐŚŶŽůŽŐLJ
ĐŽŵƉĂŶLJ͕ǁĞĚĞƉĞŶĚŽŶĂƩƌĂĐƟŶŐLJŽƵŶŐ
ƚĂůĞŶƚƚŚĂƚŚĂƐƚŚĞƉƵůƐĞŽĨƚŚĞŵĂƌŬĞƚĂƚ
ĂŶLJ ƟŵĞ͕ ĂŶĚ ƚŚĂƚ ŚĂƐ ƚŚĞ ĂďŝůŝƚLJ͕ ĚƌŝǀĞ
ĂŶĚĂŵďŝƟŽŶƚŽĐŚĂůůĞŶŐĞƚŚĞŬŶŽǁŶ͘/ƚŝƐ
ĐƌƵĐŝĂů ĨŽƌ ƚŚĞ ĐŽŵƉĂŶLJ͛Ɛ ĂďŝůŝƚLJ ƚŽ ŵŽǀĞ
ĨŽƌǁĂƌĚ͕ĞǀŽůǀĞĂŶĚĚĞǀĞůŽƉ͘͟
   ^ϮϬϭϳůŝĞŶƚ
^ƵƌǀĞLJZĞƐƉŽŶƐĞ
ĐĐŽƌĚŝŶŐ ƚŽ Wǁ͛Ɛ ͞&ƵƚƵƌĞ ŽĨ tŽƌŬ͟
ƌĞƐĞĂƌĐŚ͕ ͞ŽƉƉŽƌƚƵŶŝƟĞƐ ĨŽƌ ĐĂƌĞĞƌ
ƉƌŽŐƌĞƐƐŝŽŶ͕͟ ĂŶĚ ͞ĐŽŵƉĞƟƟǀĞ ǁĂŐĞƐ ĂŶĚ
ŽƚŚĞƌ ĮŶĂŶĐŝĂů ŝŶĐĞŶƟǀĞƐ͟ ǁĞƌĞ ƚŚĞ ƚŽƉ
ĨĂĐƚŽƌƐƚŚĂƚŵĂĚĞĂŶŽƌŐĂŶŝnjĂƟŽŶĂŶĂƩƌĂĐƟǀĞ
employer to next gen talent.
David Vargas Zepeda is Director of Human
Resources with Atento, a leading global provider
ŽĨ ĐƵƐƚŽŵĞƌ ƌĞůĂƟŽŶƐŚŝƉ ŵĂŶĂŐĞŵĞŶƚ ĂŶĚ
ďƵƐŝŶĞƐƐ ƉƌŽĐĞƐƐ ŽƵƚƐŽƵƌĐŝŶŐ ƐĞƌǀŝĐĞƐ ;ZDͬ
BPO). He said, “Basically we have changed our
ĂƉƉƌŽĂĐŚƚŽƚŚĞŶĞdžƚŐĞŶĞƌĂƟŽŶ͘dŚĞƌĞĐƌƵŝƟŶŐ
process, now, is through social media channels,
ǁŝƚŚ ŵŽƌĞ ŝŶĨŽƌŵĂƟŽŶ ĂďŽƵƚ ŽƵƌ ŝŶĚƵƐƚƌLJ͕
ŽƵƌ ĐŽŵƉĂŶLJ ĂŶĚ ƚŚĞ ƉŽƐŝƟŽŶƐ ƚŚĂƚ ǁĞ ŽīĞƌ
available online. Another improvement in
place is the automated hiring process that uses
technology among all the stages. We call it ‘Pre-
ŚŝƌŝŶŐ͛͘͟
/Ŷ ĂĚĚŝƟŽŶ ƚŽ ƐƉĞĂŬŝŶŐ ƚŽ ŶĞdžƚ ŐĞŶ ƚĂůĞŶƚ
in their own language and leveraging familiar
ƚŽŽůƐ͕ ĞdžĞĐƵƟǀĞƐ ĂůƐŽ ĂƉƉĞĂů ƚŽ ƉŽƚĞŶƟĂů
ůĞĂĚĞƌƐ͛ ŝŶƚĞƌĞƐƚ ŝŶ ƚŚĞ ũŽď ƐĞĐƵƌŝƚLJ ĂīŽƌĚĞĚ
by a growth-company with a focus on
development. Clay Callan is the former Chief
KƉĞƌĂƟŶŐ KĸĐĞƌ Ăƚ ŽƌŶĞƌƐƚŽŶĞ ,ĞĂůƚŚĐĂƌĞ
'ƌŽƵƉ ,ŽůĚŝŶŐ͕ /ŶĐ͕͘ Ă ĚŝǀĞƌƐŝĮĞĚ ŚĞĂůƚŚĐĂƌĞ
ĐŽŵƉĂŶLJ ďĂƐĞĚ ŝŶ ĂůůĂƐ͕ dĞdžĂƐ͕ ŽƉĞƌĂƟŶŐ ϭϴ
hospitals in six states.
Callan said, “We typically outline the growth
ƉŽƚĞŶƟĂůŽĨƚŚĞĐŽŵƉĂŶLJĂŶĚƚŚĞĚĞǀĞůŽƉŵĞŶƚ
ƉŽƚĞŶƟĂů ŽĨ ƚŚĞ ŝŶĚŝǀŝĚƵĂů͘ tĞ ƉƌŽǀŝĚĞ ƚŚĞŵ
with challenging work assignments, 360
ĚĞŐƌĞĞͲĨĞĞĚďĂĐŬĂŶĚĐŽůůĂďŽƌĂƟǀĞŐŽĂůͲƐĞƫŶŐ
sessions. Our goal is to put individuals in a role
where they can be successful, and then we
džĞĐƵƟǀĞdĂůĞŶƚͲϵ
 provide them with coaching and assistance as
ŶĞĞĚĞĚ͘͟
ŽŵƉĞƟŶŐ ĨŽƌ ĞdžĞĐƵƟǀĞ ŶĞdžƚ ŐĞŶĞƌĂƟŽŶ
ƚĂůĞŶƚŝƐũƵƐƚƚŚĞďĞŐŝŶŶŝŶŐ͘KƌŐĂŶŝnjĂƟŽŶƐǁŚŽ
ƐƵĐĐĞƐƐĨƵůůLJĂƩƌĂĐƚŶĞdžƚŐĞŶůĞĂĚĞƌƐŵƵƐƚŐŝǀĞ
them reasons to stay.
1.2 What can
businesses do to
retain next gen
executive talent?
͞ůƚŚŽƵŐŚDŝůůĞŶŶŝĂůůĞĂĚĞƌƐ
ĚŽ ŶŽƚ ƐĞĞŵ ƚŽ ďĞ ƐĞŶĚŝŶŐ ƚŚĞ ŵĞƐƐĂŐĞ͕
͞WƌŽŵŽƚĞ ŵĞ ƚŽŵŽƌƌŽǁ Žƌ / Ăŵ ŽƵƚ
ŽĨ ŚĞƌĞ͕͟ ƚŚĞLJ ĚŽ ĞdžƉĞĐƚ ƚŽ ĂƐĐĞŶĚ ƚŚĞ
ůĞĂĚĞƌƐŚŝƉ ƌĂŶŬƐ͘ ŽŵƉĂŶŝĞƐ ƚŚĂƚ ĂƌĞ
ƵŶĂďůĞƚŽƉƌŽǀŝĚĞƚŚĞŝƌDŝůůĞŶŶŝĂůůĞĂĚĞƌƐ
ǁŝƚŚƉƌŽŵŽƟŽŶƐŽǀĞƌƟŵĞŵĂLJůŽƐĞƚŚĞŝƌ
ďĞƐƚ ĂŶĚ ĨƵƚƵƌĞ ůĞĂĚĞƌƐŚŝƉ ƚĂůĞŶƚ͘ dŚĂƚ
ďĞŝŶŐ ƐĂŝĚ͕ ƉƌŽŵŽƟŽŶ ŽƉƉŽƌƚƵŶŝƟĞƐ ŝŶ
ƐŽŵĞŽƌŐĂŶŝnjĂƟŽŶƐŵĂLJďĞƐůŽǁŝŶĐŽŵŝŶŐ͘
,ŽƌŝnjŽŶƚĂů ĞdžƉĞƌŝĞŶĐĞƐ ƚŚĂƚ ƉƌŽǀŝĚĞ
ĐŚĂůůĞŶŐĞ ĂŶĚ ŐƌŽǁƚŚ ŽƉƉŽƌƚƵŶŝƟĞƐ ŵƵƐƚ
ĞŶƚĞƌŝŶƚŽƚŚĞŵŝdž͘͟
dŚĞŽŶĨĞƌĞŶĐĞŽĂƌĚ͕
͞ŝǀĞƌŐĞŶƚsŝĞǁƐͬŽŵŵŽŶ'ƌŽƵŶĚ͟
dŚĂŶŬLJŽƵƚŽϮϬϭϳ'ůŽďĂůŽŶĨĞƌĞŶĐĞƐƵƉƉŽƌƚĞƌ,ĞŝĚƌŝĐŬΘ^ƚƌƵŐŐůĞƐ
Accelerate your
board performance
Move “beyond compliance”, a truly effective board of
directors focus on behavioral and relationship issues
that shape effective board dynamics and drive board
and organizational performance.
The majority of respondents answered
ƚŚĞ ^ ƐƵƌǀĞLJ ƋƵĞƐƟŽŶ ͞tŚĂƚ ĐĂŶ LJŽƵ ĚŽ
ĂƐ Ă ďƵƐŝŶĞƐƐ ƚŽ ĂƩƌĂĐƚ ĂŶĚ ƌĞƚĂŝŶ ƚŽƉ EĞdžƚ
'ĞŶĞƌĂƟŽŶ ĞdžĞĐƵƟǀĞ ƚĂůĞŶƚ͍͟ ǁŝƚŚ ͞ƉƌŽǀŝĚĞ
ƐƚƌŽŶŐ ĚĞǀĞůŽƉŵĞŶƚ ŽƉƉŽƌƚƵŶŝƟĞƐ͟ ĨŽůůŽǁĞĚ
ďLJ ͞ďƵŝůĚ Ă ĚŝǀĞƌƐĞ ĂŶĚ ŝŶĐůƵƐŝǀĞ ůĞĂĚĞƌƐŚŝƉ͕͟
ĂŶĚ͞ďƵŝůĚĂŵŝƐƐŝŽŶͲĚƌŝǀĞŶĐƵůƚƵƌĞ͘͟
According to The Conference Board, “the
ĨŽƌŵƵůĂĨŽƌĐŽŶƟŶƵŽƵƐůŽLJĂůƚLJĐŽŶƐŝƐƚƐŽĨĂǀĂƌŝĞƚLJ
ŽĨĞůĞŵĞŶƚƐ͕ŝŶĐůƵĚŝŶŐĐŽŵƉĞŶƐĂƟŽŶ͕ƉƌŽŵŽƟŽŶ͕
development, work-life balance, and a sense of
ďĞůŽŶŐŝŶŐƚŽĂĐŽŵŵƵŶŝƚLJĂƚǁŽƌŬ͘͟dŚĞƐĞĨĞĂƚƵƌĞƐ
are valued across age cohorts.
tŚŝůĞ ĐŽŵƉĞŶƐĂƟŽŶ ŽŌĞŶ ƌĂŶŬƐ Ăƚ Žƌ ŶĞĂƌ
ƚŚĞƚŽƉ͕ŵĂŶLJĞdžĞĐƵƟǀĞƐŵƵƐƚĮŶĚĂůƚĞƌŶĂƟǀĞƐ
ƚŽ ŽƵƚͲĐŽŵƉĞŶƐĂƟŶŐ ƚŚĞ ĐŽŵƉĞƟƟŽŶ ĨŽƌ
ĞŵĞƌŐŝŶŐĞdžĞĐƵƟǀĞƚĂůĞŶƚ͘&ŽƌĞdžĂŵƉůĞ͕sĂƌŐĂƐ
ƐĂŝĚ͕ ͞dŚĞ ŝŶĚƵƐƚƌLJ ũƵƐƚ ĮŶŝƐŚĞĚ Ă ŵĂƌŬĞƚ
ƐƵƌǀĞLJ͕ĂŶĚŝŶĂůŵŽƐƚĂůůĐĂƚĞŐŽƌŝĞƐ͕ƌĞƚĞŶƟŽŶ͕
ŽƉĞƌĂƟŽŶƐ͕ ǁĞ ĂƌĞ Ăƚ ƚŚĞ ƚŽƉ͕ ĞǀĞŶ ƚŚŽƵŐŚ
we are not the company that has the best
ĐŽŵƉĞŶƐĂƟŽŶ͘/ŚĂǀĞƚŽĮŶĚĚŝīĞƌĞŶƚǁĂLJƐƚŽ
ĐŽŵƉĞŶƐĂƚĞ ƉĞŽƉůĞͶǁĞ ŚĂǀĞ ŵŽƟǀĂƟŽŶĂů
events almost every month on a Rally
Cycle—a winners day to celebrate the best
ƉĞƌĨŽƌŵĂŶĐĞƐ͕ ƚŚĞŵĂƟĐ ĚĂLJƐ ůŝŬĞ ƉĂũĂŵĂƐ͕
Halloween—and family days, pizza days, sports
ĞǀĞŶƚƐͶǁŚĂƚĞǀĞƌŝƐƉŽƐƐŝďůĞ͕ǁĞĚŽŝƚ͘͟
www.heidrick.com
 EĞdžƚ ŐĞŶĞƌĂƟŽŶ ůĞĂĚĞƌƐ ĂƌĞ ĂŵďŝƟŽƵƐ͕
ĂŶĚ ĮŶĚ ŽƉƉŽƌƚƵŶŝƟĞƐ ĨŽƌ ƉƌŽŵŽƟŽŶ ǀĞƌLJ
ĂƩƌĂĐƟǀĞ͘ ŚƌŝƐƚŽƉŚ ^njĂŬŽǁƐŬŝ ŝƐ ŚŝĞĨ
KƉĞƌĂƟŶŐ KĸĐĞƌ ǁŝƚŚ ƐƐƚƌ ƐƐŽĐŝĂƚĞĚ
dƌĂĸĐ͕'͕Ă^ǁŝƚnjĞƌůĂŶĚͲďĂƐĞĚ͕ŵƵůƟŶĂƟŽŶĂů
ƚƌĂŶƐƉŽƌƚ ĂŶĚ ůŽŐŝƐƟĐƐ ƉƌŽǀŝĚĞƌ͘ ,Ğ ƐĂŝĚ͕ ͞tĞ
Ăƚ ƐƐƚƌ ƉƌŽǀŝĚĞ ĚĞǀĞůŽƉŵĞŶƚ ŽƉƉŽƌƚƵŶŝƟĞƐ
for supply chain talent along the East–West
ƚƌĂĸĐƌŽƵƚĞƐŝŶƚŚĞƵƌĂƐŝĂŶůŽŐŝƐƟĐƐŵĂƌŬĞƚ͘͟
AsstrA’s approach is consistent with what
ƐƚƵĚŝĞƐ ŝĚĞŶƟĨLJ ĂƐ Ă ĐŽŵŵŽŶ ĚƌŝǀĞƌ ĨŽƌ ŶĞdžƚ
ŐĞŶĞƌĂƟŽŶ ƚĂůĞŶƚͶĂĚǀĂŶĐĞŵĞŶƚ͘ ͞KƵƌ
philosophy allows strong, internal career
ƉƌŽŐƌĞƐƐĨŽƌƚŚĞďĞƐƚƉĞŽƉůĞŝŶƚŚĞŝŶƚĞƌŶĂƟŽŶĂů
ŵĂƌŬĞƚ ĞŶǀŝƌŽŶŵĞŶƚ͘ /Ŷ ƉĂƌƟĐƵůĂƌ͕ ƚŚĞ ŵŽƐƚ
talented people receive expanded roles in one
ŽĨ ƚŚĞ ϭϲ ĐŽƵŶƚƌŝĞƐ ǁŚĞƌĞ ǁĞ ĂƌĞ ůŽĐĂƚĞĚ͕͟
Szakowski said.
Vargas said, “We show them a career path
from the beginning, and they take e-learning
ƚŽŽůƐ ƚŽ ůĞĂƌŶ͕ ƚŽ ŐƌŽǁ ŝŶ ƚŚĞ ŽƌŐĂŶŝnjĂƟŽŶ͘
dŚĞLJ ĐĂŶ ƚĂŬĞ ĚŝīĞƌĞŶƚ ƚƌĂŝŶŝŶŐ ĐŽƵƌƐĞƐ ŝŶ
ĚŝīĞƌĞŶƚƚĞĐŚŶŝĐĂůĂŶĚŵĂŶĂŐĞƌŝĂůƐŬŝůůƐ͘dŚĞLJ
have a coach to support this training, and
ǁŚĞŶƚŚĞLJĂƌĞĐĞƌƟĮĞĚ͕ƚŚĞLJďĞĐŽŵĞĞůŝŐŝďůĞ
to be promoted. More than 85 percent of our
ƉŽƐŝƟŽŶƐĂƌĞƉƌŽŵŽƚĞĚĨƌŽŵǁŝƚŚŝŶ͘͟
/ŶǀĞƐƟŶŐ ŝŶ ƉƌŽĨĞƐƐŝŽŶĂů ĚĞǀĞůŽƉŵĞŶƚ
carries risks. “We’ve trained people, and some
ĨŽƵŶĚŽƉƉŽƌƚƵŶŝƟĞƐŽƵƚƐŝĚĞƚŚĞĐŽŵƉĂŶLJ͖ǁĞ
made them more valuable, and they elected
ƚŽůĞĂǀĞ͕͟ƐĂŝĚĂůůĂŶ͘ĚĚŝƟŽŶĂůŽďƐĞƌǀĂƟŽŶƐ
from The Conference Board indicate that fewer
than 25 percent of millennial leaders feel
they’ll be able to climb to higher leadership
levels within their current company. “Whether
ĂŵŝƐƉĞƌĐĞƉƟŽŶŽƌĂƌĞĂůŝƚLJ͕ƚŚŝƐŝƐĂůŝŶŐĞƌŝŶŐ
ƌĞƚĞŶƟŽŶƌŝƐŬĨŽƌŽƌŐĂŶŝnjĂƟŽŶƐƵŶĂĐĐƵƐƚŽŵĞĚ
ƚŽ ŽīĞƌŝŶŐ ƌĂƉŝĚͶŽƌ ĐƌĞĂƟǀĞͶŵŽǀĞŵĞŶƚ͕
which will leave Millennial leaders to feel that
ƚŚĞŝƌŽŶĐĞͲƌĂƉŝĚƉƌŽŐƌĞƐƐŚĂƐƐƚĂůůĞĚ͘͟
ĂůůĂŶ ƌĞĐĂůůƐ Ă ƉĂƌƟĐƵůĂƌ ŝŶĚŝǀŝĚƵĂů Ăƚ
Cornerstone Healthcare Group. “He was the
ĚŝƌĞĐƚŽƌŽĨŽƉĞƌĂƟŽŶĂůĞdžĐĞůůĞŶĐĞ͕ĂŶĚŚĞĚŝĚ
ŵƵůƟƉůĞ ƉƌŽũĞĐƚƐ ĂĐƌŽƐƐ ŵƵůƟƉůĞ ŚŽƐƉŝƚĂůƐ͕
driving improvement. There was an internal
vacancy for a hospital CEO role, and he ended
up taking that role and now he has been
promoted from a internal consultant to a single
ŚŽƐƉŝƚĂůK͘͟
“My philosophy is this: if we have the right
culture and we try to train and develop these
people, that should create an environment
ǁŚĞƌĞƉĞŽƉůĞǁĂŶƚƚŽƐƚĂLJ͕͟ĂůůĂŶƐĂŝĚ͘
ĚǀŝĐĞĨƌŽŵƚŚĞ<ŽƌŶ&ĞƌƌLJ/ŶƐƟƚƵƚĞ͗͞WƌĞƉĂƌĞ
ĨŽƌ ŚŝŐŚ ĂƩƌŝƟŽŶ ƌĂƚĞƐ ĂƐ ƚŚĞ ŶĞǁ ŶŽƌŵĂů͘
DŝůůĞŶŶŝĂůƐ ƚƌĂŶƐŝƟŽŶ ďĞƚǁĞĞŶ ĐŽŵƉĂŶŝĞƐ
more frequently. Build this into your manpower
ƉůĂŶŶŝŶŐƌĂƚŚĞƌƚŚĂŶĨŽƌĐĞĮƚůŽLJĂůƚLJ͘͟
2. What are the top
priorities related
to developing next
gen leaders?
͞džĐĞƉƚ ŝŶ ƌĂƌĞ ĐĂƐĞƐ͕ ůĞĂĚĞƌƐ
ĚŽŶ͛ƚ ĚĞǀĞůŽƉ ƚŚĞŵƐĞůǀĞƐ͘ EĞdžƚ ŐĞŶĞƌĂƟŽŶ
ƚĂůĞŶƚŝƐĂůǁĂLJƐĐƌŝƟĐĂůͶLJŽƵŚĂǀĞƚŽŝĚĞŶƟĨLJ
ƚŚĞ ŚŝŐŚͲƉŽƚĞŶƟĂů ĐĂŶĚŝĚĂƚĞƐ ĂŶĚ ĞŶƐƵƌĞ
ƚŚĞLJŚĂǀĞĂƐŽůŝĚĐƌŽƐƐͲƐĞĐƟŽŶŽĨĞdžƉĞƌŝĞŶĐĞ
ƚŽƉƌĞƉĂƌĞƚŚĞŵĨŽƌƚŚĞŝƌĞǀĞŶƚƵĂůƌŽůĞƐ͘͟
^ϮϬϭϳůŝĞŶƚ^ƵƌǀĞLJZĞƐƉŽŶƐĞ
AESC survey respondents chose
͞ĞŵƉŽǁĞƌŝŶŐ ƚŽƉ ƚĂůĞŶƚ͕͟ ĨŽůůŽǁĞĚ ďLJ
“succession planning to accelerate next
ŐĞŶĞƌĂƟŽŶ ůĞĂĚĞƌƐŚŝƉ͟ ĂŶĚ ͞ŝŶĐůƵĚĞ ŶĞdžƚ
ŐĞŶĞƌĂƟŽŶƚĂůĞŶƚŝŶĚĞĐŝƐŝŽŶŵĂŬŝŶŐ͘͟dŚĞƐĞ
answers align closely with what researchers
Strauss and Howe learned about Gen X
decades earlier. “Their accelerated contact
with the real world gives them strong survival
ƐŬŝůůƐ ĂŶĚ ĞdžƉĞĐƚĂƟŽŶƐ ŽĨ ƉĞƌƐŽŶĂů ƐƵĐĐĞƐƐ͘͟
And they “generally make their own way,
ƌĂƚŚĞƌƚŚĂŶĨŽůůŽǁĞƐƚĂďůŝƐŚĞĚƉĂƩĞƌŶƐ͘͟
At AsstrA, Szakowski said, “We believe
that empowerment and decision-making
ĂƵƚŚŽƌŝƚLJ ƐŚŽƵůĚ ƐƚĂƌƚ ǁŝƚŚ ƚŚĞ ƐƚĂīͶ
ŽƉĞƌĂƟŽŶƐ ĂŶĚ ŵŝĚͲŵĂŶĂŐĞŵĞŶƚͶĂŶĚ ƚŚĂƚ
ŝƐƉŽƐƐŝďůĞŽŶĐĞŵĂŝŶŽďũĞĐƟǀĞƐĂƌĞĐůĞĂƌ͕ĂŶĚ
measurable targets have been agreed upon.
&ŽƌĚĞǀĞůŽƉŝŶŐŶĞǁƚĂůĞŶƚ͕ǁĞŽīĞƌĂƐƉĞĐŝĂů
tutorship program for every beginner, with
a broad range of trainings and get-together
occasions. The team spirit is one of the points
ǁŚŝĐŚŬĞĞƉƐŽƵƌƚĂůĞŶƚůŽLJĂůƚŽƚŚĞĐŽŵƉĂŶLJ͘͟
Vargas said, “We believe we have to train
them faster than in the past, and not just in
ƚĞĐŚŶŝĐĂůƚŽŽůƐ͘tĞŝŶǀĞƐƚƟŵĞĂŶĚŵŽŶĞLJƚŽ
develop their managerial skills in a blended-
ůĞĂƌŶŝŶŐŵŽĚĞů͘/ŶĂĚĚŝƟŽŶ͕ǁĞŽīĞƌĂĐĂƌĞĞƌ
ƉĂƚŚƚŚĂƚŝŶĐůƵĚĞƐƐŵĂůůƉƌŽŵŽƟŽŶƐŝŶĂƐŚŽƌƚ
ĂŵŽƵŶƚ ŽĨ ƟŵĞ ;ƚŚƌĞĞ Žƌ Ɛŝdž ŵŽŶƚŚƐͿ ĂŶĚ
ůĂƚĞƌĂůŽƉƉŽƌƚƵŶŝƟĞƐ͘dŚŝƐŚĞůƉƐƵƐƌĞƚĂŝŶƚŚĞƐĞ
ƉĞŽƉůĞĂŶĚĚĞǀĞůŽƉƚŚĞŶĞdžƚŐĞŶĞƌĂƟŽŶ͘͟
In fact, in the The Conference Board
research, both Millennial and Non-
DŝůůĞŶŶŝĂů ůĞĂĚĞƌƐ ŝĚĞŶƟĮĞĚ ͞ĚĞǀĞůŽƉŵĞŶƚ
ĂƐƐŝŐŶŵĞŶƚƐ͟ ĂŶĚ ͞ĐŽĂĐŚŝŶŐ͟ ĂƐ ƚŚĞ ŵŽƐƚ
ĞīĞĐƟǀĞ ůĞĂĚĞƌƐŚŝƉ ĚĞǀĞůŽƉŵĞŶƚ ŵĞƚŚŽĚƐ͘
Callan said, “In some instances we will pair
a more experienced manager with someone
less experienced for an informal peer-to-per
ŵĞŶƚŽƌŝŶŐ ƌĞůĂƟŽŶƐŚŝƉ͘ DĞŶƚŽƌŝŶŐ ƉĞĞƌͲƚŽͲ
ƉĞĞƌŚĂƐďĞĞŶǀĞƌLJƉŽƐŝƟǀĞ͕ĂŶĚŝƚ͛ƐƌĞǁĂƌĚŝŶŐ
ƚŽƐĞĞƐŽŵĞŽŶĞƚĂŬĞŽŶŶĞǁƌĞƐƉŽŶƐŝďŝůŝƟĞƐ͕
and see them become successful. I am
constantly amazed and impressed with how
ĨŽůŬƐƚĂŬĞƚŚĞƐĞĚŝīĞƌĞŶƚŝŶƉƵƚƐ͕ĂŶĚĐŽŵĞƵƉ
ǁŝƚŚƚŚĞŝƌŽǁŶǁĂLJŽĨĚŽŝŶŐƚŚŝŶŐƐ͘͟
džĞĐƵƟǀĞdĂůĞŶƚͲϭϭ
 dŚĞ ƚŽƉ ƉƌŝŽƌŝƟĞƐ ĨŽƌ ĚĞǀĞůŽƉŝŶŐ EĞdžƚ 'ĞŶ
talent from our client survey:
1. Empowering top talent (36%)
2. Succession planning to accelerate Next
Gen leadership (25%)
3. Include Next Gen talent in decision-
making (23%)
4. Access internal talent and provide
meaningful coaching (20%)
5. ƌĞĂƟŶŐ ŵŽƌĞ ĚŝǀĞƌƐĞ ĂŶĚ ŝŶĐůƵƐŝǀĞ
ůĞĂĚĞƌƐŚŝƉ;ϭϵйͿ
dŚĞ ĐŽŵďŝŶĂƟŽŶ ŽĨ ƚŚĞ ŽŽŵĞƌ ŐĞŶĞƌĂƟŽŶ
ĂƉƉƌŽĂĐŚŝŶŐƌĞƟƌĞŵĞŶƚĂŶĚƚŚĞĞdžƉĞĐƚĂƟŽŶƐŽĨŶĞdžƚ
ŐĞŶĞƌĂƟŽŶ ůĞĂĚĞƌƐ ƚŽ ŐƌŽǁ Žƌ ŐŽ͕ ƉƵƚƐ ŝŶĐƌĞĂƐŝŶŐ
ƉƌĞƐƐƵƌĞ ŽŶ ŽƌŐĂŶŝnjĂƟŽŶƐ ƚŽ ŵĂŬĞ ƐƵƌĞ ƚŚĞ ŶĞdžƚ
ŐĞŶĞƌĂƟŽŶŽĨĞdžĞĐƵƟǀĞƐŝƐƌĞĂĚLJƚŽůĞĂĚ͘
 ͞^ƵĐĐĞƐƐŝŽŶ ƉůĂŶŶŝŶŐ ŽĨ ŽƵƌ ƐĞŶŝŽƌ ůĞĂĚĞƌƐ
ŝƐ ĐŽƌĞ ƚŽ ŽƵƌ ďƵƐŝŶĞƐƐ͘ tĞ ǁĂŶƚ ƚŽ ŚĂǀĞ
ĐůĞĂƌĐĂƌĞĞƌĂŶĚĚĞǀĞůŽƉŵĞŶƚƉůĂŶƐ͕ƐŽƚŚĂƚ
ǁĞĐĂŶĮůůŽƵƌƐĞŶŝŽƌƉŽƐŝƟŽŶƐǁŝƚŚŽƵƌŽǁŶ
ĐĂƉĂďŝůŝƟĞƐ͕ ĂŶĚ ƚĂŬĞ ĂůŽŶŐ ƚŚĞ ŚŝƐƚŽƌLJ ŽĨ
ŽƵƌ ĐŽŵƉĂŶLJ͕ ǁŚŝůĞ ǁŝƚŚ ŶĞǁ ƚĂůĞŶƚƐ ĨƌŽŵ
ŽƵƚƐŝĚĞƚŚĞĐŽŵƉĂŶLJǁĞďƌŝŶŐĚŝǀĞƌƐŝƚLJĂŶĚ
͙ŝŶŶŽǀĂƟŽŶ͘͟
^ϮϬϭϳůŝĞŶƚ^ƵƌǀĞLJZĞƐƉŽŶƐĞ
3. What are the top
leadership qualities of
the next generation of
leadership talent that
could enhance your
organization?
 ͞/Ŷ Ă ǁŽƌůĚ ǁŚĞƌĞ ǁĞ Ăůů ŚĂǀĞ ĂĐĐĞƐƐ ƚŽ ƚŚĞ
ƐĂŵĞ ƚĞĐŚŶŽůŽŐLJ ĂŶĚ ŝŶĨŽƌŵĂƟŽŶ͕ ƚĂůĞŶƚ ŝƐ
ǁŚĂƚǁŝůůĚŝƐƟŶŐƵŝƐŚĂŶŽƌŐĂŶŝnjĂƟŽŶĨƌŽŵƚŚĞ
ĐŽŵƉĞƟƟŽŶ͘ KƐ ďĞůŝĞǀĞ ƚŚĞ ŵŽƐƚ ĞīĞĐƟǀĞ
ĞŵƉůŽLJĞĞƐ ĂƌĞ ƚŚŽƐĞ ǁŚŽ ĂƌĞ ĂŐŝůĞ͕ ĐƵƌŝŽƵƐ͕
ĂŶĚŚĂǀĞƚŚĞĂďŝůŝƚLJƚŽĐŽůůĂďŽƌĂƚĞǁŝƚŚŽƚŚĞƌƐ
ƚŽ ĂĐŚŝĞǀĞ ƚŚĞ ŐƌĞĂƚĞƐƚ ƌĞƐƵůƚƐ͘ dŚĞƐĞ ƐŬŝůůƐĞƚƐ
ĂƌĞĂŵŽŶŐƚŚĞŚĂƌĚĞƐƚƚŽƌĞĐƌƵŝƚ͘͟
ϮϬϭϳWǁKƐƵƌǀĞLJ
“Mainly, we are looking for individuals who
have the right energy level, and a desire to
ϭϮͲdžĞĐƵƟǀĞdĂůĞŶƚ
learn and try new things, Callan said. “Being
entrepreneurial and the ability to lead change
are the most important in the industries I’ve been
in—manufacturing, services and health care —
ǁŝƚŚ ƉƌŝǀĂƚĞ ĞƋƵŝƚLJ ƉŽƌƞŽůŝŽ ĐŽŵƉĂŶŝĞƐ ƚŚĂƚ
ǁĞƌĞĞŝƚŚĞƌĚŝƐƚƌĞƐƐĞĚŽƌŶĞĞĚŝŶŐƚŽĐŚĂŶŐĞ͘͟
,ĞĂĚĚĞĚ͕͞>ĞĂĚŝŶŐĐŚĂŶŐĞĐĂŶŶŽƚďĞĞīĞĐƟǀĞ
ǁŝƚŚŽƵƚ ĐƌŝƟĐĂů ƚŚŝŶŬŝŶŐ ƐŬŝůůƐ ĂŶĚ Ă ĐĞƌƚĂŝŶ
ĂŵŽƵŶƚŽĨĞŵŽƟŽŶĂůŝŶƚĞůůŝŐĞŶĐĞ͘zŽƵĐĂŶŚĂǀĞ
ŐƌĞĂƚ ĂŶĂůLJƟĐĂů ƐŬŝůůƐ͕ ďƵƚ ŝĨ LJŽƵ ĐĂŶ͛ƚ ĐŽŶŶĞĐƚ
ǁŝƚŚƚŚĞƉĞŽƉůĞ͕ŝƚ͛ƐǀĞƌLJĚŝĸĐƵůƚƚŽůĞĂĚĐŚĂŶŐĞ͘
You can have a lot of entrepreneurial thoughts
ďƵƚLJŽƵ͛ǀĞŐŽƚƚŽďĞĂďůĞƚŽŐĞƚƚŚĞŽƌŐĂŶŝnjĂƟŽŶ
to follow you, and you’ve got to be able to
ĂƌƟĐƵůĂƚĞƚŚĂƚǀŝƐŝŽŶǁĞůů͘͟
AESC client survey respondents largely
ĂŐƌĞĞĚ͕ ƌĂŶŬŝŶŐ ͞ĞŶƚƌĞƉƌĞŶĞƵƌŝĂů͟ Ăƚ ƚŚĞ ƚŽƉ͕
ĨŽůůŽǁĞĚĐůŽƐĞůLJďLJ͞ůĞĂĚŝŶŐĐŚĂŶŐĞ͕͟͞ĞŵŽƟŽŶĂů
ŝŶƚĞůůŝŐĞŶĐĞ͕͟ĂŶĚ͞ĐƌŝƟĐĂůƚŚŝŶŬŝŶŐ͘͟
According to BridgeWorks, a research
and management consultancy specializing
ŝŶ ŐĞŶĞƌĂƟŽŶƐ͕ ͞tŚŝůĞ DŝůůĞŶŶŝĂůƐ ŽŌĞŶ
ŐĞƚ ĐƌĞĚŝƚĞĚ ĂƐ ƚŚĞ ƚĞĐŚ ŐĞŶĞƌĂƟŽŶ͕ ŝƚ ǁĂƐ
LJŽƵŶŐ yĞƌƐ ǁŚŽ ĮƌƐƚ ůĞĂƌŶĞĚ ƚŽ ŶĂǀŝŐĂƚĞ ŶĞǁ
technologies, including the computer and video
game consoles… They became highly adaptable
to change, a trait that served them well when
ƚŚĞLJ ĞŶƚĞƌĞĚ Ă ŇŽƵŶĚĞƌŝŶŐ ũŽď ŵĂƌŬĞƚ͘ dŚĞŝƌ
adaptability to change, coupled with a distrust of
ƚƌĂĚŝƟŽŶĂů ŝŶƐƟƚƵƟŽŶƐ͕ ĐƌĞĂƚĞĚ ŝĚĞĂů ĐŽŶĚŝƟŽŶƐ
ĨŽƌĂŐĞŶĞƌĂƟŽŶŽĨĞŶƚƌĞƉƌĞŶĞƵƌƐ͘͟
sĂƌŐĂƐ ƐĂŝĚ ͞ƵĞ ƚŽ ƚŚĞ ĚĞĞƉ ƚƌĂŶƐĨŽƌŵĂƟŽŶ
of our business model that we are facing,
ŝŶŶŽǀĂƟŽŶƐŚŽƵůĚďĞƚŚĞƚŽƉƋƵĂůŝƚLJŽĨŽƵƌŶĞdžƚ
ŐĞŶĞƌĂƟŽŶ ŽĨ ůĞĂĚĞƌƐ͘͟ dŽ ĨŽƐƚĞƌ ŝŶŶŽǀĂƟŽŶ͕
Vargas said, “We create an environment that
ďƌŝŶŐƐƉĞŽƉůĞƚŽŐĞƚŚĞƌĨƌŽŵĚŝīĞƌĞŶƚĂƌĞĂƐ͘ůů
the important new processes, new projects or
new customers have a special team that links
ĮŶĂŶĐŝĂů ƉĞŽƉůĞ͕ ,Z͕ ŽƉĞƌĂƟŽŶƐ͕ /d ĂŶĚ ŽƚŚĞƌ
ĂƌĞĂƐ ƚŽ ĚĞǀĞůŽƉ ƐŽůƵƟŽŶƐ͘ /ƚ ŚĞůƉƐ ƵƐ ŚĂǀĞ
ŵŽƌĞ ŝŶŶŽǀĂƟŽŶ͕ ďĞĐĂƵƐĞ ƚŚĞ ƉĞŽƉůĞ ŽŶ ƚŚĞ
ƚĞĂŵŬŶŽǁǁŚĂƚŚĂƉƉĞŶƐŝŶŽƵƌĨĂĐŝůŝƟĞƐ͕ǁŚĂƚ
happens in our support areas, what kind of tools
ĂƌĞǁĞƵƐŝŶŐŝŶ/dĂƌĞĂ͘dŚŝƐĐŽůůĂďŽƌĂƟŽŶĚƌŝǀĞƐ
ŶĞǁĂŶĚŝŶŶŽǀĂƟǀĞƐŽůƵƟŽŶƐĨŽƌŽƵƌĐƵƐƚŽŵĞƌƐ͕
ĂŶĚŝŵƉƌŽǀĞŵĞŶƚƐƚŽŽƵƌŝŶƚĞƌŶĂůƉƌŽĐĞƐƐĞƐ͘͟,Ğ
ĂĚĚĞĚƚŽƚŚĞŵŽƐƚƐŽƵŐŚƚĂŌĞƌƋƵĂůŝƟĞƐŽĨŶĞdžƚ
ŐĞŶĞƌĂƟŽŶ ůĞĂĚĞƌƐ͕ ͞ŶĞŐŽƟĂƟŽŶ ƐŬŝůůƐ͕
and people who are team-oriented and
ŝŶĐůƵƐŝǀĞ͘͟
&Žƌ ^njĂŬŽǁƐŬŝ͕ ŶĞdžƚ ŐĞŶ ůĞĂĚĞƌƐ ͞ǁŝůů
ŚĂǀĞƚŽƵƐĞĂŶĂůLJƟĐƐĂŶĚůŝƐƚĞŶŝŶŐƐŬŝůůƐ͕
and see the dynamics of the market as an
opportunity, not a barrier. The skills they
need are empathy, being able to listen
ƚŽĐůŝĞŶƚƐ͕ĂŶĚďĞŝŶŐĂďůĞƚŽƌĞĂůŝƐƟĐĂůůLJ
see what the company can provide to
ƚŚĞ ĐůŝĞŶƚͶƐĞĂƌĐŚŝŶŐ ĨŽƌ ŽƉƉŽƌƚƵŶŝƟĞƐ
to help them with entry to new markets,
streamlining the supply chain or
ƐƵƉƉŽƌƟŶŐƚŚĞŝƌƚƌĂĚĞǁŝƚŚǀĂůƵĞͲĂĚĚĞĚ
ƐŽůƵƟŽŶƐ͘͟
ƐƐĞŶƟĂů ƚŽ ƚŚŝƌĚͲƉĂƌƚLJ ůŽŐŝƐƟĐƐ
ĐŽŵƉĂŶŝĞƐ ĂƌĞ ͞ŝŶƚĞƌŶĂƟŽŶĂů ůĞĂĚĞƌƐ
ǁŝƚŚĂŚŝŐŚůĞǀĞůŽĨĞĚƵĐĂƟŽŶ͕ĂŶĚĚŝǀĞƌƐĞ
ĞdžƉĞƌŝĞŶĐĞŝŶĚŝīĞƌĞŶƚŵĂƌŬĞƚƐĞŐŵĞŶƚƐ͟
as well as “good project management
ƐŬŝůůƐ ĂŶĚ ƚŚĞ ĂďŝůŝƚLJ ƚŽ ĐƌĞĂƚĞ ĂŶĚ ŽīĞƌ
ǀĂůƵĞƚŽĐůŝĞŶƚƐ͕ƉĂƌƚŶĞƌƐĂŶĚƐƵƉƉůŝĞƌƐ͘͟
^njĂŬŽǁƐŬŝĂĚĚƐ͕͞>ŽŐŝƐƟĐĐŽŵƉĂŶŝĞƐĂƌĞ
digital, and we need people to cope with
IT, and cope with clients. They need to
be okay with technology and be a people
ŵĂŶĂŐĞƌ͘͟
In the not-too-distant past, high-
ƉĞƌĨŽƌŵŝŶŐ ƐƵďũĞĐƚ ŵĂƩĞƌ ĞdžƉĞƌƚƐ ǁŝƚŚ
superior technical skills looked like ideal
ƉƌŽƐƉĞĐƚƐ ĨŽƌ ĞdžĞĐƵƟǀĞ ƌŽůĞƐ͘ ͞dŽĚĂLJ͕
we need leaders who can tackle new
ĂŶĚ ĐŽŵƉůĞdž ƐŝƚƵĂƟŽŶƐ͕ ĐƵůƟǀĂƚĞ ͚ŐĂŵĞ
changing’ teams, and leverage the
ƉŽǁĞƌ ŽĨ ŵĂŶLJ ĨŽƌ ƚŚĞ ďĞŶĞĮƚ ŽĨ ƚŚĞ
ŽǀĞƌĂůůŽƌŐĂŶŝnjĂƟŽŶ͕͟ĂĐĐŽƌĚŝŶŐƚŽ,ĞŝĚŝ
'ĞƌŚĂƌĚ͕ ŝƌĞĐƚŽƌ͕ dĂůĞŶƚ ĐƋƵŝƐŝƟŽŶ
Θ hŶŝǀĞƌƐŝƚLJ ZĞůĂƟŽŶƐ Ăƚ K^͘ ͞LJ
focusing on breadth of experience,
ĂƐƉŝƌĂƟŽŶƚŽƚĂĐŬůĞŝŶƚĞƌĞƐƟŶŐƉƌŽďůĞŵƐ
ĂŶĚďƌŝŶŐĨƌĞƐŚƉĞƌƐƉĞĐƟǀĞƐƚŽŽƵƌŵĂŶLJ
ďƵƐŝŶĞƐƐĞƐ͕ ǁĞ ĂƌĞ ĂďůĞ ƚŽ ĐƵůƟǀĂƚĞ Ă
ƌŽďƵƐƚƉŝƉĞůŝŶĞŽĨĞdžĞĐƵƟǀĞƚĂůĞŶƚ͕͟ƐŚĞ
says.
“In this VUCA world, we are highly
focused on learning agility and the
ĂďŝůŝƚLJ ƚŽ ŝŶƐƉŝƌĞ ĂŶĚ ŵŽƟǀĂƚĞ ŽƚŚĞƌƐ
to perform at their best. We also look
for those with humility, openness to ͞tĞĚĞƉĞŶĚŽŶĂƩƌĂĐƟŶŐLJŽƵŶŐ
feedback, ability to foster a diverse and ƚĂůĞŶƚƚŚĂƚŚĂƐƚŚĞƉƵůƐĞŽĨƚŚĞ
inclusive environment, and those who ŵĂƌŬĞƚĂƚĂŶLJƟŵĞ͕ĂŶĚƚŚĂƚŚĂƐ
ĐŽŶƟŶƵŽƵƐůLJĐŚĂůůĞŶŐĞƚŚĞƐƚĂƚƵƐƋƵŽ͘͟ ƚŚĞĂďŝůŝƚLJ͕ĚƌŝǀĞĂŶĚĂŵďŝƟŽŶƚŽ
ĐŚĂůůĞŶŐĞƚŚĞŬŶŽǁŶ͘/ƚŝƐĐƌƵĐŝĂů
ĨŽƌĂĐŽŵƉĂŶLJ͛ƐĂďŝůŝƚLJƚŽŵŽǀĞ
4. How can ĨŽƌǁĂƌĚ͕ĞǀŽůǀĞĂŶĚĚĞǀĞůŽƉ͘͟
executive search ͲK͕dĞĐŚŶŽůŽŐLJƐĞĐƚŽƌ͕EŽƌĚŝĐƐ
and leadership
advisors help
you build next
gen executive talent?”
͞ĞƐƉŝƚĞ ŐƌĞĂƚĞƌ ĂƵƚŽŵĂƟŽŶ ŝŶ ƚŚĞ
ǁŽƌŬĨŽƌĐĞ͕ KƐ ƌĞĂůŝnjĞ ƚŚĞLJ ĐĂŶ͛ƚ
ƌĞůLJŽŶĚŝŐŝƚĂůƐŬŝůůƐĂůŽŶĞ͘dŽŝŶŶŽǀĂƚĞ͕
ƚŚĞLJ ŶĞĞĚ ŐŽŽĚ ƉƌŽďůĞŵͲƐŽůǀĞƌƐ ĂŶĚ
ƉĞŽƉůĞ ǁŝƚŚ ĐƌĞĂƟǀĞ ƐŬŝůůƐ ĂŶĚ ŚŝŐŚ
ĞŵŽƟŽŶĂůŝŶƚĞůůŝŐĞŶĐĞ͘dŚĞƐĞĂƌĞĂůƐŽ
ƚŚĞŚĂƌĚĞƐƚƐŬŝůůƐƚŽĮŶĚ͘͟
tŽƌůĚĐŽŶŽŵŝĐ&ŽƌƵŵ͛ƐϮϬϭϳ
ŶŶƵĂůKƐƵƌǀĞLJ
Vargas said, “We have been working with
ĂĚǀŝƐŽƌƐƚŽĂƩƌĂĐƚĞdžĞĐƵƟǀĞƚĂůĞŶƚďĞĐĂƵƐĞ
ǁĞĚŽŶŽƚŚĂǀĞƚŚĞŝŶƚĞƌŶĂůĐĂƉĂďŝůŝƟĞƐƚŽ
do it. We see that in the short term, the
industry will require more support for
these people inside the company, that will
ĂůůŽǁ ƚŚĞŵ ƚŽ ďĞ ŵŽƌĞ ƉƌŽĚƵĐƟǀĞ ŝŶ Ă
ƐŚŽƌƚĞƌƉĞƌŝŽĚŽĨƟŵĞͶ^W͘͟
^njĂŬŽǁƐŬŝ  ƐĂŝĚ͕ ͞&Žƌ ƐŽŵĞ ƉŽƐŝƟŽŶƐ
ǁĞ ĚŽ ǁŽƌŬ ǁŝƚŚ ĞdžĞĐƵƟǀĞ ƐĞĂƌĐŚ͕ ďƵƚ
we do a lot of the work internally – we
like to develop leaders from within the
ŽƌŐĂŶŝnjĂƟŽŶ͕ ĮƌƐƚ͘ &Žƌ ŵĞ͕ ƉĞƌƐŽŶĂůůLJ͕ ŝƚ
ŝƐ ŝŵƉŽƌƚĂŶƚ ƚŽ ĮŶĚ ƚŚĞ ďĞƐƚ ƉĞŽƉůĞ LJŽƵ
can hire at the given moment, and then
develop them. We have been searching for
ǀĂƌŝŽƵƐƉŽƐŝƟŽŶƐŝŶƚŚĞĐŽŵƉĂŶLJƐƉĂŶŶŝŶŐ
the whole geography from Shanghai
to Antwerp and from St. Petersburg to
Istanbul. I believe there is a gap between
what the market is searching for –
ŝŶƚĞƌŶĂƟŽŶĂů ĐĂŶĚŝĚĂƚĞƐ ǁŚŽ ƵŶĚĞƌƐƚĂŶĚ
the work and are able to work with people,
ĂŶĚǁŚĂƚ͛ƐĂǀĂŝůĂďůĞ͘džĞĐƵƟǀĞƐĞĂƌĐŚĐĂŶ
accelerate the whole search process and
ŵĂŬĞŚŝƌŝŶŐƐŝŵƉůĞƌ͘͟
džĞĐƵƟǀĞdĂůĞŶƚͲϭϯ
 Clay Callan,
Healthcare Industry
“I think it’s change management,
and dealing with the fact that we
are increasingly disrupted by digital
technology, which changes how a
ďƵƐŝŶĞƐƐŽƉĞƌĂƚĞƐƌĞůĂƟǀĞůLJƋƵŝĐŬůLJ͘
It requires staying close to your
customer and recognizing that there
could be some new technology app
ŽƌƐŽŵĞǁĂLJŽĨĐŽŶŶĞĐƟŶŐǁŝƚŚ
your customer that could make you
ŽďƐŽůĞƚĞ͘&ŽƌĞdžĂŵƉůĞ͕ƚŚĞƵƐĞŽĨ
electronic health records. While
ƚƌLJŝŶŐƚŽŚŝƌĞƋƵĂůŝĮĞĚƚĂůĞŶƚ͕ǁĞ
learned that some required and
expected the use of electronic
health records before we had made
ƚŚĞƚƌĂŶƐŝƟŽŶĨƌŽŵŵĂŶƵĂůƉƌŽĐĞƐƐ
ƚŽĞůĞĐƚƌŽŶŝĐŚĞĂůƚŚƌĞĐŽƌĚƐ͘͟
“You have to be able to connect
with your customer, take the
opportunity to grow, or if there
is a change – for example you’re
a DVD manufacturer and here
ĐŽŵĞƐEĞƞůŝdžʹLJŽƵŚĂǀĞƚŽďĞ
able to change. What are the
ŽƉƟŽŶƐƚŽƌĞƉŽƐŝƟŽŶƚŚĞĐŽŵƉĂŶLJ
ŽƌƌĞƉŽƐŝƟŽŶƚŚĞǁŽƌŬ͕ƚŽƉƌŽǀŝĚĞ
ĚŝīĞƌĞŶƚŽƌďĞƩĞƌƉƌŽĚƵĐƚƐ
ĂŶĚƐĞƌǀŝĐĞƐůŽŶŐͲƚĞƌŵ͍dŚĞƐĞ
require being open-minded, being
ƌĞƐƉŽŶƐŝǀĞĂŶĚƟŵĞůLJ͘͟
Christoph Szakowski,
>ŽŐŝƐƟĐƐ/ŶĚƵƐƚƌLJ
͞tŚĂƚŝƐĚŝīĞƌĞŶƚŝŶϯW>ůŽŐŝƐƟĐƐ
is the speed, the dynamics,
and the challenge to play the
role between the client and the
ĐĂƌƌŝĞƌĐŽŶƐŝĚĞƌŝŶŐƚŚĞƉĂƌƟĐƵůĂƌ
supply chain and the available
ŝŶĨƌĂƐƚƌƵĐƚƵƌĞ͘&ŽƌĞdžĂŵƉůĞ͕
ŽƉĞƌĂƟŶŐůĂƌŐĞŶĞƚǁŽƌŬƐŝŶZƵƐƐŝĂ
ŝƐĚŝīĞƌĞŶƚĨƌŽŵƉƌŽǀŝĚŝŶŐƐŽůƵƟŽŶƐ
ŝŶŶĞƚǁŽƌŬƐŝŶ'ĞƌŵĂŶLJ͘͟^njĂŬŽǁƐŬŝ
illustrates his point with his own
story. “I was born in Poland, and
educated in Germany. So I have
an Eastern European mentality
ǁŝƚŚŚŝŐŚĞƌĞĚƵĐĂƟŽŶŝŶtĞƐƚĞƌŶ
ƵƌŽƉĞ͘/͛ǀĞďĞĞŶŝŶĚŝīĞƌĞŶƚ
ŵĂŶĂŐĞŵĞŶƚƉŽƐŝƟŽŶƐŝŶǁĞƐƚĞƌŶ
companies with roles in Germany,
Austria , CEE and Russia. What we
ŶĞĞĚŝŶŽƵƌŝŶĚƵƐƚƌLJŝƐŝŶƚĞƌŶĂƟŽŶĂů
ĞŵŽƟŽŶĂůŝŶƚĞůůŝŐĞŶĐĞ͘ĞŝŶŐ
able to work across cultures is
ĞƐƐĞŶƟĂůŝŶůŽŐŝƐƟĐƐ͘zŽƵŚĂǀĞƚŽ
be able to speak with employees
ĂŶĚƉĂƌƚŶĞƌƐŝŶƐƉĞĐŝĮĐĐŽƵŶƚƌŝĞƐ
like CIS countries, where the
ƉĞƌƐŽŶĂůƌĞůĂƟŽŶƐŚŝƉŝƐŝŵƉŽƌƚĂŶƚ͕
you need to operate with a good
understanding of each person – that
is a skill we have been looking for in
ŚŝŐŚĞƌŵĂŶĂŐĞŵĞŶƚ͕ƚŽŽ͘͟
David Vargas Zepeda,
Business Processes Industry
“New leaders need to be strong
on decision making in a complex
environment – one that will involve
a huge volume of people and an
expensive technology investment.
They have to be experts in the
ŽƉĞƌĂƟŽŶĂůŵĂƩĞƌƐŽĨƚŚĞďƵƐŝŶĞƐƐ͕
ƚŽŽīĞƌ͞ŽƵƚŽĨƚŚĞďŽdž͟ƐŽůƵƟŽŶƐ
to customers that integrate the
ĐƵƐƚŽŵĞƌƐ͛ĐĂƉĂďŝůŝƟĞƐǁŝƚŚŽƵƌ
business strengths. They have to
have a deep understanding of how
we manage the company and how
ŽƵƌĐƵƐƚŽŵĞƌƐĂƌĞĞdžƉĞĐƟŶŐƵƐƚŽ
improve the services they provide
to their own customers.
͞/ŶƚŚĞŶĞdžƚĮǀĞLJĞĂƌƐ͕ǁĞǁŝůů
require people who really know
our company, our processes, our
technology, and our customers.
&ŽƌĞdžĂŵƉůĞ͕ƚŚĞLJŚĂǀĞƚŽďĞĂŶ
ĞdžƉĞƌƚŝŶƚŚĞĮŶĂŶĐŝĂůƐĞĐƚŽƌĨŽƌ
ĮŶĂŶĐŝĂůĐƵƐƚŽŵĞƌƐ͘dŚĞLJǁŝůůŚĂǀĞ
to understand their customers’
business, their processes, their
customers, and they have to be
able to reduce costs, and improve
the experience of our customers’
customers. We have to improve
our customers’ process though our
ƉĞŽƉůĞĂŶĚƚŽŽůƐ͘͟

“With any strategic change that might require Conclusion

competencies that are not available internally, we are open ǀĞŶƚƵĂůůLJ͕ĂŶĞǁŐĞŶĞƌĂƟŽŶǁŝůůůĞĂĚŽƵƌŽƌŐĂŶŝnjĂƟŽŶƐ͕
ƚŽ ǁŽƌŬŝŶŐ ǁŝƚŚ ĞdžĞĐƵƟǀĞ ƐĞĂƌĐŚ͕ ĂŶĚ ǁŝƚŚ ůĞĂĚĞƌƐŚŝƉ ĂŶĚĂŶŽƚŚĞƌŐĞŶĞƌĂƟŽŶĂŌĞƌƚŚĂƚ͘
advisors that can show us competencies in the market that ƵƌƌĞŶƚ 'ĞŶ y ůĞĂĚĞƌƐ ƉůĂLJ ĂŶ ŝŶƚĞƌĞƐƟŶŐ ƌŽůĞ ŝŶ
ĐŽƵůĚďĞĚĞǀĞůŽƉĞĚ͕͟^njĂŬŽǁƐŬŝƐĂŝĚ͘ serving as a bridge between Millennials and the older
ŐĞŶĞƌĂƟŽŶƐ Ăƚ ƚŚĞ ƚŽƉ ŽĨ ŵŽƐƚ ŽƌŐĂŶŝnjĂƟŽŶƐ͘ ^ŽŽŶ
5. In your industry, what enough it will be up to Gen Xers to develop and prepare
are some of the challenges the youngest Millennials to take their turn in the C-suite.
next gen leaders will face Ɛ ƐƵƌǀĞLJĞĚ ďLJ ĞůŽŝƩĞ͕ DŝůůĞŶŶŝĂůƐ ŝŶ ůĞĂĚĞƌƐŚŝƉ
in the future, and what are ƉŽƐŝƟŽŶƐƚŽĚĂLJĂůƌĞĂĚLJŚĂǀĞĐĂƌĞĞƌĂĚǀŝĐĞƚŽƉĂƐƐĂůŽŶŐ
the skills, experiences, ƚŽƚŚĞŶĞdžƚŐĞŶĞƌĂƟŽŶ͕'ĞŶĞƌĂƟŽŶ͘
conditions and/or resources That advice: learn as much as possible, work hard,
that will help them face those ďĞ ƉĂƟĞŶƚ͕ ďĞ ĚĞĚŝĐĂƚĞĚ͕ ĂŶĚ ďĞ ŇĞdžŝďůĞ͘ 'ĞŶĞƌĂƟŽŶ
challenges? ǁŽƵůĚĂůƐŽĚŽǁĞůůƚŽĐƵůƟǀĂƚĞƚŚĞĞƐƐĞŶƟĂůƋƵĂůŝƟĞƐ
businesses need to leverage today and in the future. „
͞ϳϳйŽĨKƐĮŶĚŝƚĚŝĸĐƵůƚƚŽŐĞƚƚŚĞĐƌĞĂƟǀŝƚLJ
ĂŶĚŝŶŶŽǀĂƟŽŶƐŬŝůůƐƚŚĞLJŶĞĞĚ͘͟ To learn more, download our exclusive
ϮϬϭϳWǁKƐƵƌǀĞLJ ƌĞƉŽƌƚŽŶŚŽǁŽƌŐĂŶŝnjĂƟŽŶƐĂƌĞƉƌĞƉĂƌŝŶŐ
ƚŚĞŶĞdžƚŐĞŶĞƌĂƟŽŶĨŽƌĞdžĞĐƵƟǀĞƌŽůĞƐ͘
tĞĂƐŬĞĚƚŚĞĐůŝĞŶƚƐǁĞŝŶƚĞƌǀŝĞǁĞĚƚŚŝƐĚŝƌĞĐƚƋƵĞƐƟŽŶ͘
Visit www.AESC.org.
dŚĞŝƌĂŶƐǁĞƌƐĂƌĞĚŝīĞƌĞŶƚ͕ĂŶĚĞƋƵĂůůLJŝůůƵŵŝŶĂƟŶŐ͘

ϭϰͲdžĞĐƵƟǀĞdĂůĞŶƚ
 BUILDING CLIENTS
FOR LIFE
CLIENT RELATIONSHIP MANAGEMENT CERTIFICATE

Client relationships are more important than ever to your success.

But they are also harder than ever to build.
Expertise is essential, but experts-for-hire are commodities. While clients hire experts, they build long-term
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Relationship Management provides participants with cutting-edge content that helps strengthen the relationship-
building skills you need to grow your client base.

Building Your Clients for Life is a powerful, mobile learning program that has been developed by Andrew Sobel,
the leading authority on the strategies and skills required to build lifetime client loyalty. Andrew’s books are
FRQVLGHUHGWKHGH¿QLWLYHJXLGHVWRFOLHQWGHYHORSPHQWDQGWKH\LQFOXGHWKHLQWHUQDWLRQDOEHVWVHOOHUClients for
Life and Power Questions. An AESC collaborator for over ten years, Andrew has consulted to many of the world’s
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YOU WILL DISCOVER HOW TO:

• 'LႇHUHQWLDWH\RXUVHOILQFRPPRGLWL]LQJPDUNHWV
• Develop more sole-source business
• Learn more about your client’s needs than any of your competitors
• Acquire more new clients by selling as a trusted advisor rather than as a commodity expert-for-hire
• Build relationships with senior executive sponsors
• Deepen and grow your most important client relationships
• Develop your thought leadership and create marketing “pull” to draw more leads out of your network
• Stay in touch and add value—even when there’s no business

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 Perspectives on the Future,
from the Next Gen in
Executive Search
F
ƌŽŵ &ĞďƌƵĂƌLJ ƚŽ :ƵŶĞ ϮϬϭϳ͕ ^
convened eight focus groups with Next
'ĞŶ ĞdžĞĐƵƟǀĞ ƐĞĂƌĐŚ ĐŽŶƐƵůƚĂŶƚƐ͗
younger, emerging leaders in the profession.
dŚŝƌƚLJƉƌŽĨĞƐƐŝŽŶĂůƐƉĂƌƟĐŝƉĂƚĞĚ͕ƌĞƉƌĞƐĞŶƟŶŐ
ϭϲ ^ ŵĞŵďĞƌ ĮƌŵƐͶŝŶĐůƵĚŝŶŐ ŐůŽďĂů͕
ďŽƵƟƋƵĞĂŶĚŶĞƚǁŽƌŬƐͶŚĂŝůŝŶŐĨƌŽŵ>ŽŶĚŽŶ͕
Madrid, Mexico City, New York, Paris, São
Paulo, Shanghai, Stockholm, Warsaw, and
tĂƐŚŝŶŐƚŽŶ ͘ WĂƌƟĐŝƉĂŶƚƐ ĨƌŽŵ Ă ǁŝĚĞ
range of backgrounds and experiences were
generous with their insights, their wisdom, and
their candor*.
Where the Executive Search
and Leadership Profession is
Headed
Many factors are shaping the search and
ůĞĂĚĞƌƐŚŝƉ ĐŽŶƐƵůƟŶŐ ƉƌŽĨĞƐƐŝŽŶ͘ <ĞLJ ĂŵŽŶŐ
ƚŚĞŵŝƐƚĞĐŚŶŽůŽŐLJ͘dŚĞEĞdžƚ'ĞŶƉĂƌƟĐŝƉĂŶƚƐ
considered whether technology would be
an enabler or a disruptor: their answer was
͞ďŽƚŚ͘͟
dĞĐŚŶŽůŽŐLJ ĐŽŶƟŶƵĞƐ ƚŽ ŚĂǀĞ Ă ĚƌĂŵĂƟĐ
ĞīĞĐƚ ŽŶ ĞĸĐŝĞŶĐLJ͕ ĂŶĚ ƉůĂLJƐ Ă ƌŽůĞ ŝŶ
improving responsiveness. In the experience
ŽĨŽŶĞƉĂƌƟĐŝƉĂŶƚ͕͞dŚŝƐŝƐĞƐƉĞĐŝĂůůLJƚŚĞĐĂƐĞ
ŝŶŚŝŶĂǁŚĞƌĞĐůŝĞŶƚƐŚĂǀĞŚŝŐŚĞdžƉĞĐƚĂƟŽŶƐ
ĂƌŽƵŶĚƐƉĞĞĚďĞĐĂƵƐĞƚŚĞŵĂƌŬĞƚƌĞƋƵŝƌĞƐŝƚ͘͟
ŶŽƚŚĞƌ ƉĂƌƟĐŝƉĂŶƚ ǁĞůĐŽŵĞƐ ƚŚĞ
ĞĸĐŝĞŶĐŝĞƐ ŽĨ ƚĞĐŚŶŽůŽŐLJ͘ ͞KŶĞ ĐŽŶǀĞƌƐĂƟŽŶ
to connect with a consultant takes an hour.
Ύ/ŶĞdžĐŚĂŶŐĞĨŽƌĂŶŽƉĞŶ͕ƵŶŐƵĂƌĚĞĚĚŝƐĐƵƐƐŝŽŶ͕ǁĞĂŐƌĞĞĚƚŚĂƚĂŶLJƋƵŽƚĞƐǁŽƵůĚďĞƵŶĂƩƌŝďƵƚĞĚ͘
ϭϲͲdžĞĐƵƟǀĞdĂůĞŶƚ
dŽ ƐƉĞŶĚ ŽŶĞ ŚŽƵƌ ŽŶ ŽŶĞ ĐŽŶǀĞƌƐĂƟŽŶ͕ ĂŶĚ
two hours on expense reports, that’s not
ĐŽŶĚƵĐŝǀĞ ĨŽƌ ŵĞ ƚŽ ďĞ ĞĸĐŝĞŶƚ Ăƚ ŵLJ ũŽď͖
having more technology makes life easier and
ŵŽƌĞĞĸĐŝĞŶƚ͘͟
EĞdžƚ'ĞŶƐĞĂƌĐŚƉƌŽĨĞƐƐŝŽŶĂůƐďƌŝŶŐĞƐƐĞŶƟĂů
skills and experience in the area of emerging
ƚĞĐŚŶŽůŽŐŝĞƐ ƚŽ ƚŚĞŝƌ ĐůŝĞŶƚ ƌĞůĂƟŽŶƐŚŝƉƐ͘
͞ŝŐŝƚĂůŝnjĂƟŽŶĂŶĚĚŽŝŶŐďƵƐŝŶĞƐƐŝŶŶĞǁǁĂLJƐ
ĐĂŶďĞĂĐŚĂůůĞŶŐĞĨŽƌĞdžŝƐƟŶŐŵĂŶĂŐĞŵĞŶƚ͕͟
ĂĚĚĞĚĂ/KĨƌŽŵƚŚĞ&ŝŶĂŶĐŝĂů^ĞƌǀŝĐĞƐƐĞĐƚŽƌ
in Europe’s Nordics region. Next Gen search
ƉƌŽĨĞƐƐŝŽŶĂůƐĐĂŶĮůůƚŚĂƚŐĂƉ͘
Is technology a threat to the search
ƉƌŽĨĞƐƐŝŽŶ͍
͞ͲůĞǀĞů ĞdžĞĐƵƟǀĞ ƐĞĂƌĐŚ ƌĞƋƵŝƌĞƐ ǁŽƌŬ
ƚŚĂƚ ŝƐ ĚĞƌŝǀĞĚ ŶŽƚ ŽŶůLJ ĨƌŽŵ ŝŶƚĞůůŝŐĞŶĐĞ
ďƵƚĂůƐŽĨƌŽŵŝŶƐŝŐŚƚ͕ũƵĚŐŵĞŶƚĂŶĚĞǀĞŶ
ŚƵŵĂŶŝƚLJ͘ ƵƌƌĞŶƚ ƚĞĐŚŶŽůŽŐLJ ŚĂƐŶ͛ƚ
ĮŐƵƌĞĚ ŝƚ ŽƵƚ LJĞƚ͕ ƐŽ ƚŚĞƌĞ ǁŝůů ƌĞŵĂŝŶ Ă
ƉůĂĐĞ ĨŽƌ ŐŽŽĚ ƐĞĂƌĐŚ ĐŽŶƐƵůƚĂŶƚƐ ǁŚŽ
ǁŽƌŬĂƚƚŚĞƚŽƉ͘/͛ŵƐƟůůďƵůůŝƐŚĂďŽƵƚƚŚŝƐ
ƉƌŽĨĞƐƐŝŽŶ͘͟
Ƶƚ ŚŽǁ ŵƵĐŚ ŽĨ ĞdžĞĐƵƟǀĞ ƐĞĂƌĐŚ ĐĂŶ ďĞ
ĂƵƚŽŵĂƚĞĚ͍ ͞dĞĐŚŶŽůŽŐŝĞƐ ĂƌĞ ĐƌĞĞƉŝŶŐ ŝŶ
ǁŚŝĐŚ ǁŝůů ĂīĞĐƚ ĐĞƌƚĂŝŶ ĐŽŵƉŽŶĞŶƚƐ ŽĨ ƚŚĞ
ƐĞĂƌĐŚ ŵŽĚĞů͘ DĂLJďĞ ŝŶ ƚĞŶ LJĞĂƌƐ͛ ƟŵĞ ǁĞ͛ůů
be at a stage where a lot of our workforce will
ŚĂǀĞďĞĞŶƐƚƌĞĂŵůŝŶĞĚĂŶĚƌĞƉůĂĐĞĚ͘͟
dŽ ƐƚĂLJ ƌĞůĞǀĂŶƚ͕ ƉĂƌƟĐŝƉĂŶƚƐ ƐĂLJ ƚŚĂƚ ĮƌŵƐ
ŵƵƐƚ ƉƌŽǀŝĚĞ ͞ǀĂůƵĞ͕ ĂŶĚ ŝŶĨŽƌŵĂƟŽŶ ƚŚĂƚ
clients can’t retrieve themselves. They can
retrieve the name, but they can’t retrieve the
informal references, the understanding of what
ĂĐĂŶĚŝĚĂƚĞŚĂƐĂĐƚƵĂůůLJĚĞĂůƚǁŝƚŚ͘͟
dŚĞ ŐĞŶĞƌĂů ĐŽŶƐĞŶƐƵƐ ĂŵŽŶŐ ƉĂƌƟĐŝƉĂŶƚƐ
ŝƐƚŚĂƚƚŚĞŵĂƌŬĞƚǁŝůůĚĞŵĂŶĚƚŚĂƚĞdžĞĐƵƟǀĞ
ƐĞĂƌĐŚ ĐŽŶƐƵůƚĂŶƚƐ ĐŽŶƟŶƵĞ ƚŽ ĞǀŽůǀĞ ĚĞĞƉĞƌ
into strategic advising. “Anybody can retrieve
ŶĂŵĞƐ͕ƐŽLJŽƵŶĞĞĚƚŽĮŶĚǁĂLJƐƚŽĂĚĚǀĂůƵĞ
ƚŚĂƚŐŽĞƐďĞLJŽŶĚƚŚĞŝĚĞŶƟĮĐĂƟŽŶŽĨƉĞŽƉůĞ͘
Hopefully, we can add value by understanding
the industry so well that we know what’s going
ŽŶ͕ĂŶĚǁŚĂƚƚŚĞŝŵƉůŝĐĂƟŽŶƐĂƌĞ͖ƚŚĂƚǁĞĂƌĞ
following the talent within our industries, and
ǁĞ ĐĂŶ ŵĂŬĞ ǀĂůƵĂďůĞ ƌĞĐŽŵŵĞŶĚĂƟŽŶƐ ĂŶĚ
ƐƵŐŐĞƐƟŽŶƐ͘͟
ŶŽƚŚĞƌŽƵƚĐŽŵĞŽĨƚŚĞĞǀŽůƵƟŽŶŽĨƐĞĂƌĐŚʹ
ƌĞůĂƚĞĚ ƚĞĐŚŶŽůŽŐLJ ŝƐ ƚŚĂƚ ŵŽƌĞ ŽƌŐĂŶŝnjĂƟŽŶƐ
ĂƌĞ ƚĂŬŝŶŐ ƚŚĞŝƌ ĞdžĞĐƵƟǀĞ ƐĞĂƌĐŚ ǁŽƌŬ ŝŶͲ
house. One respondent called the trend “a
ůŽƐŝŶŐďĂƩůĞ͘͟ƵƚƚŚĞƌĞƌĞŵĂŝŶƐĂŬĞLJƌŽůĞĨŽƌ
ƚŚĞĞdžĞĐƵƟǀĞƐĞĂƌĐŚĐŽŶƐƵůƚĂŶƚ͘
“In-house, they are not always able to
evaluate the diversity within the company.
They tend to look for the same kind of person.
tĞĐĂŶŽīĞƌĂĚŝīĞƌĞŶƚƉŽŝŶƚŽĨǀŝĞǁŝŶƚĞƌŵƐ
ŽĨ ŐĞŶĞƌĂƟŽŶ ĂŶĚ ĐƵůƚƵƌĞ͕ ĚŝŐŝƚĂů ƉƌŽĮůĞƐ͕
ŶĞǁĞƌƉƌŽĮůĞƐƚŚĂŶĐůĂƐƐŝĐĂůŽŶĞƐ͘͟
“I work a lot with board assignments, for
ĞdžĂŵƉůĞ͕ ĂŶĚ / ĐĂŶ ƐĞĞ ƚŚĂƚ ƚŚĞƌĞ͛Ɛ ĚĞĮŶŝƚĞůLJ
a lack of knowledge about technology or
digital. In that case, there is an opportunity
for us to step up and be that strategic advisor,
that strategic partner, and say, ‘Hey, for your
ďƵƐŝŶĞƐƐLJŽƵŶĞĞĚƚŚŝƐŬŝŶĚŽĨĞdžƉĞƌƟƐĞ͛͘͟
The Changing Profile of
Executive Search Consultants
“Diversity of thinking will be core to
sustaining the growth and performance of
ƚŚĞ ďƵƐŝŶĞƐƐ͕͟ ĐŽŵŵĞŶƚĞĚ Ă ŚŝĞĨ DĂƌŬĞƟŶŐ
KĸĐĞƌ ŝŶ ƚŚĞ >ŽŐŝƐƟĐƐ ƐĞĐƚŽƌ ŝŶ ƚŚĞ hŶŝƚĞĚ
Kingdom.
/Ŷ ĚŝƐĐƵƐƐŝŶŐ ŝŶŇƵĞŶĐĞƐ ŽŶ ƚŚĞ ƉƌŽĨĞƐƐŝŽŶ͕
ŶĞĂƌůLJ Ăůů ƉĂƌƟĐŝƉĂŶƚƐ ŵĞŶƟŽŶĞĚ ƚŚĞ
ĚŝǀĞƌƐŝĮĐĂƟŽŶ ŽĨ ĞdžĞĐƵƟǀĞ ƐĞĂƌĐŚ ĮƌŵƐ͘ dŚĞŝƌ
ŽďƐĞƌǀĂƟŽŶƐ ǀĂƌŝĞĚ ǁŝĚĞůLJ͕ ůĂƌŐĞůLJ ĂůŽŶŐ
ŐĞŽŐƌĂƉŚŝĐ ůŝŶĞƐ͕ ǁŝƚŚ ĐŽŶƐƵůƚĂŶƚƐ ƉĂŝŶƟŶŐ
almost contradictory pictures of the state of
ŐĞŶĚĞƌ ĚŝǀĞƌƐŝƚLJ ŝŶ ƚŚĞŝƌ ŽƌŐĂŶŝnjĂƟŽŶƐ͘ KŶĞ
ƉĂƌƟĐŝƉĂŶƚƐĂŝĚ͕͞tĞŚĂǀĞĂůƌĞĂĚLJĞǀŽůǀĞĚŝŶŽŶĞ
sense—we’re more global and consequently,
we are more diverse. But this has to do with
ĐƵůƚƵƌĞ͕ĂŶĚƚŚŝƐŝƐǁŚLJ/ƚŚŝŶŬŝƚ͛ƐƐůŽǁ͘͟
ŶŽƚŚĞƌƉĂƌƟĐŝƉĂŶƚĞdžƉƌĞƐƐĞĚĨƌƵƐƚƌĂƟŽŶĂƚ
the pace of change, and suggested there may
ďĞ Ă ŇĂǁ ŝŶ ĮƌŵƐ͛ ĂƐƐĞƐƐŵĞŶƚ ŝŶ ƚŚĞŝƌ ŽǁŶ
gender balance: “I’m not sure that the switch
is happening as fast as it should. I think there’s
ĂƉŝŶŬŐŚĞƩŽǁŝƚŚŝŶƌĞƐĞĂƌĐŚ͕ǁŚĞƌĞLJŽƵ͛ůůĮŶĚ
really good researchers who are female, but I
doubt that if you do a snapshot of the partners,
or just consultants in the industry, that you’ll
ĮŶĚĂƐŵĂŶLJĨĞŵĂůĞƐ͘͟
/Ŷ ŽŶĞ ƌĞŐŝŽŶ͕ ĨŽĐƵƐ ŐƌŽƵƉ ƉĂƌƟĐŝƉĂŶƚƐ
ŽďƐĞƌǀĞĚ ƚŚĂƚ ƚŚĞ ĚŝǀĞƌƐŝĮĐĂƟŽŶ ŽĨ ĞdžĞĐƵƟǀĞ
ƐĞĂƌĐŚŚĂƐŶŽƚĐĂƵŐŚƚƵƉǁŝƚŚĞdžĞĐƵƟǀĞƐĞĂƌĐŚ
ĐůŝĞŶƚƐ͘ ͞>ŽŽŬŝŶŐ Ăƚ ĞdžĞĐƵƟǀĞ ƐĞĂƌĐŚ ĮƌŵƐ
and the partners in them, it’s majority ‘white
male.’ In no way does it mirror society and our
ďƵƐŝŶĞƐƐĐŽŵŵƵŶŝƚLJ͘͟
džĞĐƵƟǀĞdĂůĞŶƚͲϭϳ
 Globally, the profession shows signs
ƚŚĂƚ ƚŚŝƐ ŝƐ ƋƵŝĐŬůLJ ƐŚŝŌŝŶŐ͘ &Žƌ ĞdžĂŵƉůĞ͕
the Next Gen consultants themselves
were predominantly women, and many
of them referenced the number of junior
consultants who are women. Others
ƌĞĨĞƌĞŶĐĞĚ ƚŚĂƚ ƚŚĞŝƌ ĮƌŵƐ ĂƌĞ ǀĞƌLJ
ŐĞŶĚĞƌ ďĂůĂŶĐĞĚ͕ ƐƵŐŐĞƐƟŶŐ ƚŚĂƚ ƚŚŝƐ
cohort of consultants represents the
gender-balanced future of the profession.
^ŽŵĞ EĞdžƚ 'ĞŶ ĞdžĞĐƵƟǀĞ ƐĞĂƌĐŚ
consultants see an opportunity for the
ƉƌŽĨĞƐƐŝŽŶ ƚŽ ŚĞůƉ ƚŚĞ ĚŝǀĞƌƐŝĮĐĂƟŽŶ ŽĨ
ĐůŝĞŶƚ ŽƌŐĂŶŝnjĂƟŽŶƐ͕ ĂƐ ǁĞůů͘ ͞džĞĐƵƟǀĞ
search as an industry is in a power
ƉŽƐŝƟŽŶ͕ ĞƐƉĞĐŝĂůůLJ ŝĨ LJŽƵ ƚŚŝŶŬ ĂďŽƵƚ
areas such as diversity, and sustainability,
and all those barriers where we really sit
at the core of deciding whether or not
somebody’s put on a list, given a call,
being interviewed, or presents to a client.
We really need to step it up as an industry,
ĂŶĚƚĂŬĞƌĞƐƉŽŶƐŝďŝůŝƚLJ͘͟
Part of that responsibility is asking
candidate sources to stretch beyond their
ƚƌĂĚŝƟŽŶĂů ŶĞƚǁŽƌŬƐ ƚŽ ƌĞĂĐŚ ǁŽŵĞŶ
and minority candidates. “Men just have
this informal network, and when I pull
sources, they are mainly making male
dŚĂŶŬLJŽƵƚŽϮϬϭϳ'ůŽďĂůŽŶĨĞƌĞŶĐĞƐƵƉƉŽƌƚĞƌKĚŐĞƌƐĞƌŶĚƚƐŽŶ
referrals because they’re a part of that
ŶĞƚǁŽƌŬ͘͟
How long will clients seeking diversity
ĂĐĐĞƉƚĂĮƌŵǁŝƚŚŽƵƚŝƚ͍͞/Ĩ/ƚƵƌŶƵƉǁŝƚŚ
three gray-haired men, it shows a huge
ůĂĐŬŽĨĞŵŽƟŽŶĂůŝŶƚĞůůŝŐĞŶĐĞ͘͟
Much of the value Next Gen search
consultants bring to clients is also
related to their ability to connect with
their client’s rising leaders and Next Gen
ĐĂŶĚŝĚĂƚĞƐ͕ ǁŚŽ ǁŝůů ďĞ ĞƐƐĞŶƟĂů ƚŽ ƚŚĞ
client’s business success.
As markets evolve and talent needs
change, Next Gen search consultants give
their clients an advantage. They come
from the same world and speak the same
language as the people who will drive an
ŽƌŐĂŶŝnjĂƟŽŶ͛ƐĨƵƚƵƌĞƐƵĐĐĞƐƐ͘
“The ability to thrive in a dynamic and
uncertain world will be necessary to
ĞŶƐƵƌĞĂďƵƐŝŶĞƐƐ͛ƐƐƵƌǀŝǀĂůĂŶĚƉƌŽŐƌĞƐƐ͕͟
ƌĞƐƉŽŶĚĞĚ ŽŶĞ ͲƐƵŝƚĞ ĞdžĞĐƵƟǀĞ ŝŶ ƚŚĞ
&ŝŶĂŶĐŝĂů ^ĞƌǀŝĐĞƐ ƐĞĐƚŽƌ ŝŶ ƚŚĞ hŶŝƚĞĚ
Kingdom.
Preparing the Next Gen for
the future
,Žǁ ĂƌĞ ĮƌŵƐ ƉƌĞƉĂƌŝŶŐ EĞdžƚ 'ĞŶ
consultants to address their clients’
ĞǀŽůǀŝŶŐŐŽĂůƐ͍&ŝƌŵƐĂŶĚƚŚĞĐŽŶƐƵůƚĂŶƚƐ
ƚŚĞŵƐĞůǀĞƐ ĂƌĞ ůĞǀĞƌĂŐŝŶŐ ƚŚĞ ďĞŶĞĮƚƐ
of formal and informal professional
ĚĞǀĞůŽƉŵĞŶƚŽƉƉŽƌƚƵŶŝƟĞƐ͘
Staying abreast of technology is
ĞƐƐĞŶƟĂů͕ ĂƐ ƚŽŽůƐ ĐŽŶƟŶƵĞ ƚŽ ĚĞǀĞůŽƉ
that supplement the search and
ĂƐƐĞƐƐŵĞŶƚƉƌŽĐĞƐƐĞƐ͘&ŝƌŵƐŽīĞƌƚƌĂŝŶŝŶŐ
ŝŶƉƐLJĐŚŽŵĞƚƌŝĐƚĞƐƟŶŐĂŶĚĐĞƌƟĮĐĂƟŽŶƐ
for various assessment tools, but as one
Next Gen consultant observed, “I don’t
ŬŶŽǁ ŝĨ ƐŝƫŶŐ ĚŽǁŶ ŝŶ Ă ĐůĂƐƐƌŽŽŵ ĂŶĚ
being taught how to be an adviser is
ŐŽŝŶŐ ƚŽ ŵĂŬĞ LJŽƵ Ă ďĞƩĞƌ ĂĚǀŝƐĞƌ͕ ďƵƚ
shadowing is a good example of on-the-
ũŽďƚƌĂŝŶŝŶŐƚŚĂƚǁŽƌŬƐ͘͟
While agreeing that formal training has
a place in their professional development,
ƉĂƌƟĐŝƉĂŶƚƐĞdžƉƌĞƐƐĞĚĂƐƚƌŽŶŐƉƌĞĨĞƌĞŶĐĞ
ĨŽƌ ĞdžƉĞƌŝĞŶƟĂů ůĞĂƌŶŝŶŐ͕ ĂŶĚ ǁĞŝŐŚĞĚ
ŝŶ ŽŶ ƚŚĞ ǀĂůƵĞ ŽĨ ƚŚĞŝƌ ƌĞůĂƟŽŶƐŚŝƉƐ
ǁŝƚŚ ŽƚŚĞƌƐ ǁŝƚŚŝŶ ƚŚĞŝƌ ĮƌŵƐ͗ ƐƉŽŶƐŽƌƐ͕
mentors, and role models.
“A sponsor is somebody who’s
responsible for your professional
development. That is, somebody who’s
supposed to say, “I have this client you
should really meet with. I think this is a
great opportunity for you to develop in this space. I
think you probably need sponsorship more within
ƚŚŽƐĞƚLJƉĞƐŽĨŽƌŐĂŶŝnjĂƟŽŶƐǁŚĞƌĞƚŚĞƌĞŝƐĂĚĞĮŶĞĚ
ƉĂƚŚƚŽĐůŝŵďŝŶŐƵƉƚŚĞůĂĚĚĞƌ͘͟
tŚŝůĞ ŶŽƚ Ăůů ŽƌŐĂŶŝnjĂƟŽŶƐ ŚĂǀĞ Ă ͞ƐƉŽŶƐŽƌƐŚŝƉ͟
program, many of our Next Gen consultants had
ĞdžƉĞƌŝĞŶĐĞ ǁŝƚŚ ŵĞŶƚŽƌƐ͘ KŶĞ ƉĂƌƟĐŝƉĂŶƚ ƐĂŝĚ ƚŚĞŝƌ
Įƌŵ ŚĂĚ Ă ĨŽƌŵĂůŝnjĞĚ ŵĞŶƚŽƌƐŚŝƉ ƉƌŽŐƌĂŵ͕ ďƵƚ
“personally, I’m not a strong believer in those types
of programs. I think mentorship is based on trust, is
ďĂƐĞĚŽŶĂĐŽŶŶĞĐƟŽŶǁŝƚŚĐĞƌƚĂŝŶŝŶĚŝǀŝĚƵĂů͕ŝƚ͛ƐŶŽƚ
ƐŽŵĞƚŚŝŶŐƚŚĂƚLJŽƵ͛ƌĞũƵƐƚŐŝǀĞŶ͘͟
Another described a mentor who “challenged
me, and pushed me into deeper water than I felt
ĐŽŵĨŽƌƚĂďůĞŝŶ͕͟ĂƐĂŬĞLJůĞĂƌŶŝŶŐĞdžƉĞƌŝĞŶĐĞ͘
ƐŬĞĚ ǁŚĂƚ ƚŚĞLJ ǁĂŶƚ ĨƌŽŵ Ă ŵĞŶƚŽƌ͕ ƉĂƌƟĐŝƉĂŶƚ
ƌĞƐƉŽŶƐĞƐ ŝŶĐůƵĚĞĚ ͞ĐŽŶƐƚĂŶƚ ĨĞĞĚďĂĐŬ͕͟ ͞ůĞǀĞƌĂŐŝŶŐ
ƚŚĞŝƌŶĞƚǁŽƌŬƚŽŚĞůƉŵĞĚĞǀĞůŽƉŵLJŽǁŶƉůĂƞŽƌŵ͕͟
ĂŶĚ ͞ŚŽŶĞƐƚLJ͘͟ KŶĞ ƉĂƌƟĐŝƉĂŶƚ ƐƵŵŵĞĚ ƵƉ ƚŚĞ EĞdžƚ
Gen commitment to achieving excellence: “What’s the
ƐĞĐƌĞƚƐĂƵĐĞƚŽďĞĂƚŽƉƉĞƌĨŽƌŵĞƌ͍͟
Another development approach is to create
ŽƉƉŽƌƚƵŶŝƟĞƐ ĨŽƌ ƚŚĞ EĞdžƚ 'ĞŶ ĐŽŶƐƵůƚĂŶƚ ƚŽ ďĞ
a mentor. “When I was a junior consultant, some
ƉĂƌƚŶĞƌƐ ĚĞĚŝĐĂƚĞĚ ƚŚĞŝƌ ƟŵĞ ƚŽ ǁŽƌŬ ƚŽŐĞƚŚĞƌ ǁŝƚŚ
me. We’d problem solve together, and they would
give me leeway to run my own project and develop. I
have always worked with partners who have been very
dedicated to my development, and always had my
back. Now I work with younger people, researchers,
ĂŶĚ/ŚĂǀĞƚŚĞŝƌďĂĐŬƐ͘͟
Another said, “I mentor someone in one of our
businesses—a manager who’s looking to up-skill his
ĐĂƉĂďŝůŝƚLJ͘͟ dŚĞ ƌĞǁĂƌĚƐ ŽĨ ŵĞŶƚŽƌŝŶŐ ĐĂŶ ĞdžƚĞŶĚ
beyond professional development. “It’s really great
to help someone. I was really appreciated, I did a cool
ƚŚŝŶŐ͘͟
Mentorship does not have to be limited to the
ĐŽŶĮŶĞƐ ŽĨ ƚŚĞ Įƌŵ͘ ͞/Ĩ LJŽƵ ŚĂǀĞ Ă ŐŽŽĚ ĐůŝĞŶƚ͕ ĂŶĚ
if that client can be a mentor, that is actually a great,
a huge advantageͶďŽƚŚ ĨŽƌ ƚŚĞ ƌĞůĂƟŽŶƐŚŝƉ ĂŶĚ ĨŽƌ
ƚŚŽƐĞǁŚŽĂƌĞŽŶƚŚĞŝƌǁĂLJƵƉ͘͟
ŶĚ ƚŚĞŶ͕ ƚŚĞƌĞ ĂƌĞ ƚŚĞ ƌŽůĞ ŵŽĚĞůƐ͘ WĂƌƟĐŝƉĂŶƚƐ
described a role model as someone who sets a tone
and provides a good example of how to work. “I’ve
admired many people that I’ve worked with, in terms
of how they’re able to manage their clients, how
ƚŚĞLJ͛ƌĞĂďůĞƚŽŵĂŶĂŐĞĐĂŶĚŝĚƌĞůĂƟŽŶƐŚŝƉƐ͕ĂŶĚƚŚĞŝƌ
ĞdžƉĞƌƟƐĞŝŶĞǀĂůƵĂƟŶŐƉĞŽƉůĞ͛ƐƉŽƚĞŶƟĂůĂŶĚĐĂƉĂĐŝƚLJ͘
/ƚŚŝŶŬƌŽůĞŵŽĚĞůƐĂƌĞĞdžƚƌĞŵĞůLJŝŵƉŽƌƚĂŶƚ͘͟
͞/ĨƚŚĞƌĞĂƌĞŶŽƌŽůĞŵŽĚĞůƐ͕/ƚŚŝŶŬǁĞ͛ƌĞŐŽŝŶŐƚŽ
ůŽƐĞĞǀĞƌLJďŽĚLJŝŶƚŚŝƐĮƌŵ͕ďĞĐĂƵƐĞƚŚĂƚ͛ƐǁŚĂƚ͛Ɛ
/ŶĐŽŶũƵŶĐƟŽŶǁŝƚŚƚŚŝƐƌĞƐĞĂƌĐŚ͕^ĐŽŶĚƵĐƚĞĚĂƐƵƌǀĞLJŽĨEĞdžƚ'ĞŶĐŽŶƐƵůƚĂŶƚƐ͘
comprehensive members-only report on our research is available to AESC members on the AESC
member website at ǁǁǁ͘ĂĞƐĐ͘ŽƌŐͬůŽŐŝŶ.
ŝŶƐƉŝƌŝŶŐͶǁŚĂƚ͛ƐĨƵŶĂďŽƵƚŐŽŝŶŐƚŽǁŽƌŬŝƐƚŚĞ
ƉĞŽƉůĞĂƌŽƵŶĚLJŽƵ͘͟
The Next Gen of Search’s Advice for
Clients
ƐƉĂƌƚŽĨƚŚĂƚƐƵƌǀĞLJŽĨEĞdžƚ'ĞŶĞdžĞĐƵƟǀĞƐĞĂƌĐŚ
and leadership consultants, respondents were asked,
͞ƐĂEĞdžƚ'ĞŶĞƌĂƟŽŶĐŽŶƐƵůƚĂŶƚ͕ǁŚĂƚƐŚŽƵůĚĐůŝĞŶƚƐ
ĚŽƚŽĚĞǀĞůŽƉEĞdžƚ'ĞŶĞƌĂƟŽŶƚĂůĞŶƚǁŝƚŚŝŶƚŚĞŝƌŽǁŶ
ŽƌŐĂŶŝnjĂƟŽŶƐ͍͟dŚĞŝƌƚŽƉƌĞƐƉŽŶƐĞƐĂƌĞ͗
1- &ŽĐƵƐĞĚĚĞǀĞůŽƉŵĞŶƚŽĨEĞdžƚ'ĞŶůĞĂĚĞƌƐ
2- Empowering top talent
3- ƌĞĂƟŶŐŵŽƌĞĚŝǀĞƌƐĞĂŶĚŝŶĐůƵƐŝǀĞůĞĂĚĞƌƐŚŝƉ
4- WƌŽǀŝĚĞ ŝŶƚĞƌŶĂƟŽŶĂů ĂŶĚ ĐƌŽƐƐͲĐƵůƚƵƌĂů
ŽƉƉŽƌƚƵŶŝƟĞƐ
5- Include Next Gen talent in decision making
Comparing surveys of both clients and Next Gen
consultants, both groups ranked “empowering top
ƚĂůĞŶƚ͕͟͞ŝŶĐůƵĚŝŶŐŶĞdžƚŐĞŶƚĂůĞŶƚŝŶĚĞĐŝƐŝŽŶͲŵĂŬŝŶŐ͕͟
ĂŶĚ ͞ĐƌĞĂƟŶŐ ŵŽƌĞ ĚŝǀĞƌƐĞ ĂŶĚ ŝŶĐůƵƐŝǀĞ ůĞĂĚĞƌƐŚŝƉ͟
ĂŵŽŶŐ ƚŚĞŝƌ ƚŽƉ ĮǀĞ ƉƌŝŽƌŝƟĞƐͬƌĞĐŽŵŵĞŶĚĂƟŽŶƐ ĨŽƌ
developing Next Gen leaders.
ůŝĞŶƚƐƵŶĚĞƌƐƚĂŶĚƚŚĞǀĂůƵĞŽĨĂƩƌĂĐƟŶŐ͕ƌĞƚĂŝŶŝŶŐ͕
and developing Next Gen talent. “Because the market
ŝƐĐŚĂŶŐŝŶŐ͕ƚŚĞŶĞǁĐƵƐƚŽŵĞƌƐĂƌĞĚŝīĞƌĞŶƚ͕ƚŚĞLJŚĂǀĞ
ĚŝīĞƌĞŶƚĞdžƉĞĐƚĂƟŽŶƐ͕ĂŶĚƚŚĞLJƌĞƐƉŽŶĚĚŝīĞƌĞŶƚůLJƚŽ
our products. In order to deal with this new market
ǁĞŶĞĞĚƚĂůĞŶƚƚŚĂƚƵŶĚĞƌƐƚĂŶĚƐƚŚĂƚ͕͟ĐŽŵŵĞŶƚĞĚĂŶ
ĞdžĞĐƵƟǀĞŝŶƚŚĞ&ŝŶĂŶĐŝĂů^ĞƌǀŝĐĞƐƐĞĐƚŽƌŝŶƌĂnjŝů͘
Next Gen consultants may be the key to acquiring
that talent. They have many shared experiences with
EĞdžƚ 'ĞŶ ĞdžĞĐƵƟǀĞƐ͘ dŚĞLJ ƐƉĞĂŬ ƚŚĞ ƐĂŵĞ ĚŝŐŝƚĂů
ůĂŶŐƵĂŐĞ͕ ĂŶĚ ƐŚĂƌĞ ŵĂŶLJ ŽĨ ƚŚĞ ƐĂŵĞ ŐĞŶĞƌĂƟŽŶĂů
ƚƌĂŝƚƐ ĂŶĚ ƉƌĞĨĞƌĞŶĐĞƐ ƚŚĂƚ ĚŝƐƟŶŐƵŝƐŚ ƚŚĞŵ ĨƌŽŵ
ƚŚĞŐĞŶĞƌĂƟŽŶƌĞƉƌĞƐĞŶƚĞĚďLJŵŽƐƚƐĞŶŝŽƌĞdžĞĐƵƟǀĞ
search consultants and the older masters of the
ͲƐƵŝƚĞ͘ dŚŝƐ ƌĞŇĞĐƟŽŶ ĐŽƵůĚ ďĞ ĨƌŽŵ Ă EĞdžƚ 'ĞŶ
search consultant or an aspiring CEO:
͞/ƚ͛Ɛ ŵŽƌĞ ĂďŽƵƚ ƐĞůĨ ĨƵůĮůůŵĞŶƚ͕ ŝƚ͛Ɛ ĂƌŽƵŶĚ ƐŽƌƚ
ŽĨƚŚĞƐƵƐƚĂŝŶĂďŝůŝƚLJŽĨƚŚĞĐŽŵƉĂŶLJͶǁŚĂƚ͛ƐƚŚĞ
ƌĞĂƐŽŶ ĨŽƌ ƚŚĞ ĞdžŝƐƚĞŶĐĞ ŽĨ ƚŚĞ ĐŽŵƉĂŶLJ͕ ĂŶĚ
ǁŚĂƚƌŽůĞĚŽĞƐƚŚĂƚĐŽŵƉĂŶLJƉůĂLJŝŶƐŽĐŝĞƚLJŝŶĂ
ďƌŽĂĚĞƌ ƉĞƌƐƉĞĐƟǀĞ͍ tŚĂƚ ǁĂƐ ƉƌĞǀŝŽƵƐůLJ Ă ƚŽƉ
ůŝŶĞĚƌĂǁǁĂƐƟƚůĞƐĂŶĚĐŽŵƉĞŶƐĂƟŽŶ͕ĂŶĚƚŚŽƐĞ
ŚĂǀĞĐŽŵĞĚŽǁŶƚŚĞůŝƐƚŝŶĨĂǀŽƌŽĨĂƌĞĂƐƐƵĐŚĂƐ͗
ŵ/ƌĞĐŽŐŶŝnjĞĚĂƚŵLJǁŽƌŬ͍ĂŶ/ŝŶŇƵĞŶĐĞƚŚĞ
ǁĂLJƚŚŝƐĐŽŵƉĂŶLJǁŽƌŬƐ͕ĂŶĚƚŚĞƌŽůĞŝƚƉůĂLJƐŝŶ
ƐŽĐŝĞƚLJ͍͟
„
džĞĐƵƟǀĞdĂůĞŶƚͲϭϵ
A Commitment to
Candidate Care:
Before, During and
After the Assignment
M
ĂŶLJ ĞdžĞĐƵƟǀĞ ĐĂŶĚŝĚĂƚĞƐ
ĂƌĞ ĂůƌĞĂĚLJ ŝŶ ƐĂƟƐĨLJŝŶŐ
jobs when they agree to
be considered for a new role. Others
ĂƌĞ ĂĐƟǀĞůLJ ƐĞĞŬŝŶŐ ŶĞǁ ŽƉƉŽƌƚƵŶŝƟĞƐ͘
Both types of candidate are willing
ƚŽ ƉĂƌƟĐŝƉĂƚĞ ŝŶ ƚŚĞ ƚŚŽƌŽƵŐŚ͕ ŽŌĞŶ
ůĞŶŐƚŚLJĂƐƐĞƐƐŵĞŶƚĂŶĚƐĞůĞĐƟŽŶƉƌŽĐĞƐƐ
with everything that process entails:
ĞīŽƌƚ͕ ƐĞůĨͲĚŝƐĐŽǀĞƌLJ͕ Ă ƐĞŶƐĞ ŽĨ ƌŝƐŬ͕
ĂŶĚ ƐŽŵĞƟŵĞƐ ĚŝƐĂƉƉŽŝŶƚŵĞŶƚ͘ dŚĞ
ĞdžĞĐƵƟǀĞ ƐĞĂƌĐŚ ĐŽŶƐƵůƚĂŶƚ ĐĂŶ ŵĂŬĞ
the experience worthwhile regardless of
the outcome, through superior candidate
care.
What is candidate care?
ĂŶĚŝĚĂƚĞ ĐĂƌĞ ďĞŐŝŶƐ ǁŝƚŚ ĞdžĞĐƵƟǀĞ
ƐĞĂƌĐŚ ĮƌŵƐ ǁŚŽ͕ ǁŝƚŚ ĞĂĐŚ ƐĞĂƌĐŚ
assignment, represent their clients—the
ŚŝƌŝŶŐ ŽƌŐĂŶŝnjĂƟŽŶƐͶƚŽ Ă ƐůĂƚĞ ŽĨ ŚŝŐŚ
ůĞǀĞů͕ ĞdžĞĐƵƟǀĞ ĐĂŶĚŝĚĂƚĞƐ͘ ĂŶĚŝĚĂƚĞ
ĐĂƌĞŝƐƚŚĞĞƚŚŝĐĂů͕ĐŽŶĮĚĞŶƟĂů͕ƌĞƐƉĞĐƞƵů͕
ĂŶĚ ƌĞƐƉŽŶƐŝǀĞ ƚƌĞĂƚŵĞŶƚ ŽĨ ĞdžĞĐƵƟǀĞ
candidates.
tŚĂƚĚŽĞƐƚŚĂƚŵĞĂŶ͍&ŝƌƐƚ͕ĐĂŶĚŝĚĂƚĞ
ĐĂƌĞŵĞĂŶƐƌĞƐƉĞĐƟŶŐƚŚĞĐŽŶĮĚĞŶƟĂůŝƚLJ
of the candidate. In AESC research
published in džĞĐƵƟǀĞdĂůĞŶƚϮϬϮϬ, “Nine
out of ten candidates felt that their
ĐŽŶĮĚĞŶƟĂůŝƚLJǁĂƐƉƌŽƚĞĐƚĞĚĂƚĂůůƟŵĞƐ
ϮϬͲdžĞĐƵƟǀĞdĂůĞŶƚ
;ϵϯйͿĂŶĚƚŚĂƚƚŚĞĞdžĞĐƵƟǀĞƐĞĂƌĐŚĮƌŵ
made them feel secure about exploring
ƚŚĞŽƉƉŽƌƚƵŶŝƚLJ;ϵϬйͿ͘
͞^ĞŶŝŽƌ ĞdžĞĐƵƟǀĞƐ ƐŝŵƉůLJ ĐĂŶŶŽƚ
ĂīŽƌĚ ƚŽ ĞŶƚĞƌƚĂŝŶ Ă ũŽď ĐŚĂŶŐĞ
ƉƵďůŝĐĂůůLJ͘ dŚĞLJ ŚĂǀĞ ŝŶǀĞƐƚŽƌƐ͕
ĂŶĚ ĐŽŵƉĞƟƚŽƌƐ͘ ZƵŵŽƌƐ ĂďŽƵƚ
ƐĞŶŝŽƌ ĞdžĞĐƵƟǀĞƐ ůĞĂǀŝŶŐ ĐĂŶ ŚĂǀĞ
Ă ĐĂƚĂƐƚƌŽƉŚŝĐ ŝŵƉĂĐƚ ŽŶ ƚŚĞŝƌ
ŽƌŐĂŶŝnjĂƟŽŶƐ ĂŶĚ ŽŶ ƚŚĞŝƌ ĐĂƌĞĞƌƐ͘ 
tĞ ƵŶĚĞƌƐƚĂŶĚ ƚŚĞ ŶĞĞĚ ĨŽƌ
ĐŽŶĮĚĞŶƟĂůŝƚLJͶŝƚ͛ƐŽƵƌƚŽƉƉƌŝŽƌŝƚLJ͘͟
'ůĞŶĚĂ<͘ƌŽǁŶ͕
DĂŶĂŐŝŶŐŝƌĞĐƚŽƌ͕ůƵĞ^ƚĞƉƐ
Candidate care involves being
responsive to candidates, especially
ĚƵƌŝŶŐƉĞƌŝŽĚƐŽĨǁĂŝƟŶŐĂŶĚƵŶĐĞƌƚĂŝŶƚLJ͘
/ƚ ƌĞƋƵŝƌĞƐ ďĞŝŶŐ ŚŽŶĞƐƚ Ăƚ Ăůů ƟŵĞƐ͕
and gentle, when a candidate is no
ůŽŶŐĞƌ ƵŶĚĞƌ ĐŽŶƐŝĚĞƌĂƟŽŶ͘ /ƚ ŝƐ ďĞŝŶŐ
ĐŽŶƐƚƌƵĐƟǀĞ ŝĨ ĂŶ ŝŶĚŝǀŝĚƵĂů ƐĞĞŬƐ
ĨĞĞĚďĂĐŬĂŌĞƌƚŚĞŝƌĐĂŶĚŝĚĂĐLJ͘
KŌĞŶƟŵĞƐ͕ ĐĂŶĚŝĚĂƚĞ ĐĂƌĞ ŵĞĂŶƐ
ƐƵƉƉŽƌƟŶŐƚŚĞĐĂŶĚŝĚĂƚĞĂŌĞƌƚŚĞƐĞĂƌĐŚ
assignment is completed.
Why is it important?
'ĞƫŶŐ ƚŽ LJĞƐ͗ /Ŷ ĞǀĞƌLJ ƐĞĂƌĐŚ
ĂƐƐŝŐŶŵĞŶƚ͕ ƚŚĞ ĞdžĞĐƵƟǀĞ ƐĞĂƌĐŚ
consultant becomes an extension
of the client. When the candidate
feels respected and cared for by the
consultant, and when the candidate
experience is one of professionalism
ĂŶĚ ƚƌƵƐƚ͕ ƚŚŽƐĞ ƉŽƐŝƟǀĞ ĨĞĞůŝŶŐƐ ĂŶĚ
ĞdžƉĞƌŝĞŶĐĞƐ ƌĞŇĞĐƚ ŽŶ ƚŚĞ ĐůŝĞŶƚ͘ dŚĞ
candidate’s experience becomes very
ŝŵƉŽƌƚĂŶƚ Ăƚ ƚŚĞ ŶĞŐŽƟĂƟŽŶ ƐƚĂŐĞ͕ ĂŶĚ
ĐĂŶ ŝŶŇƵĞŶĐĞ ǁŚĞƚŚĞƌ ƚŚĞ ĐĂŶĚŝĚĂƚĞ
ƐĂLJƐ͞LJĞƐ͘͟
When the client says no: The respect
ĂŶĚĐĂƌĞƐŚŽǁŶďLJƚŚĞĞdžĞĐƵƟǀĞƐĞĂƌĐŚ
ĐŽŶƐƵůƚĂŶƚ ůĞĂǀĞƐ Ă ůĂƐƟŶŐ ŝŵƉƌĞƐƐŝŽŶ
on the candidates not selected for
Ă ƉĂƌƟĐƵůĂƌ ŽƉƉŽƌƚƵŶŝƚLJ͕ ĂƐ ǁĞůů͘
dŚŽƐĞ ĐĂŶĚŝĚĂƚĞƐ ŚĂǀĞ ƚŚĞ ƉŽƚĞŶƟĂů
ƚŽ ďĞ ĐĂŶĚŝĚĂƚĞƐ ĨŽƌ ŽƉƉŽƌƚƵŶŝƟĞƐ ŝŶ
the future, future clients, and brand
ĂŵďĂƐƐĂĚŽƌƐĨŽƌƚŚĞĐůŝĞŶƚ͕ƐĞĂƌĐŚĮƌŵ͕
and consultant.
͞ĂŶĚŝĚĂƚĞƐ ǁŝůů ƌĞŵĞŵďĞƌ LJŽƵ
ďĞĐĂƵƐĞLJŽƵƚƌĞĂƚĞĚƚŚĞŵƐŽǁĞůů͘^ŝdž
ŵŽŶƚŚƐůĂƚĞƌƚŚĂƚĐĂŶĐŽŵĞŝŶƚŽƉůĂLJ
ŝŶ ĂŶŽƚŚĞƌ ĂƐƐŝŐŶŵĞŶƚ͕ Žƌ ĚŽǁŶ ƚŚĞ
ƌŽĂĚǁŚĞŶƚŚĂƚĨŽƌŵĞƌĐĂŶĚŝĚĂƚĞŚĂƐ
Ă ŬĞLJ ǀĂĐĂŶĐLJ ŝŶ ƚŚĞŝƌ ŽƌŐĂŶŝnjĂƟŽŶ
ĂŶĚ ŝƐ ůŽŽŬŝŶŐ ĨŽƌ Ă ƐĞĂƌĐŚ Įƌŵ͘
dŽĚĂLJ͛ƐƵŶƐƵĐĐĞƐƐĨƵůĐĂŶĚŝĚĂƚĞĐŽƵůĚ
ďĞ ƚŽŵŽƌƌŽǁ͛Ɛ ƐƵĐĐĞƐƐĨƵů ĐĂŶĚŝĚĂƚĞ͕
ĂŶĚĞǀĞŶƚŽŵŽƌƌŽǁ͛ƐĐůŝĞŶƚ͘dƌĞĂƟŶŐ

ƉĞŽƉůĞ ǁŝƚŚ ƌĞƐƉĞĐƚ ƚŚƌŽƵŐŚŽƵƚ
ƚŚĞ ƉƌŽĐĞƐƐ ŝƐ ŐŽŽĚ ĨŽƌ ďƵƐŝŶĞƐƐ͕
ĨŽƌ ŽƵƌ ƉƌŽĨĞƐƐŝŽŶ ĂŶĚ ĨŽƌ ƚŚĞ
ĐĂŶĚŝĚĂƚĞƐ͘
<ĂƌĞŶ'ƌĞĞŶďĂƵŵ͕
WƌĞƐŝĚĞŶƚĂŶĚK͕^
BlueSteps as candidate
care
Candidates surveyed in AESC’s
recent ůƵĞ^ƚĞƉƐ ĂƌĞĞƌ KƵƚůŽŽŬ
ZĞƉŽƌƚ were asked to rank the most
ŝŵƉŽƌƚĂŶƚ ĞĚƵĐĂƟŽŶĂů ŽƉƉŽƌƚƵŶŝƟĞƐ
ĨŽƌ ƐƚĂLJŝŶŐ ƌĞůĞǀĂŶƚ ŝŶ ƚŚĞ ĞdžĞĐƵƟǀĞ
ũŽďŵĂƌŬĞƚ͘͞džĞĐƵƟǀĞĐŽĂĐŚŝŶŐ͟ǁĂƐ
ranked the most important, followed
ďLJ͞ĚŝŐŝƚĂůĂŶĚƐŽĐŝĂůŵĞĚŝĂƚƌĂŝŶŝŶŐ͘͟
These services out-ranked advanced
ĚĞŐƌĞĞƐ͕ ŝŶĚƵƐƚƌLJ ĂĐĐƌĞĚŝƚĂƟŽŶ͕
webinars, foreign language study and
mentorship.
ůƵĞ^ƚĞƉƐ džĞĐƵƟǀĞ ĂƌĞĞƌ
Services provides these resources
and more; services delivered with
the same care and professionalism
ǁŝƚŚ ǁŚŝĐŚ ĐůŝĞŶƚƐ ĂŶĚ ƐĞĂƌĐŚ ĮƌŵƐ
treat their candidates. Clients and
ƐĞĂƌĐŚ ĮƌŵƐ ĞŶŐĂŐĞ ǁŝƚŚ ĐĂŶĚŝĚĂƚĞƐ
ĂƚŵƵůƟƉůĞƐƚĂŐĞƐ͕ĂŶĚĂƚĞǀĞƌLJƐƚĂŐĞ
ƚŚĞƌĞŝƐĂƐŽŵĞƚŚŝŶŐƚŽŽīĞƌƚŚƌŽƵŐŚ
BlueSteps.
Referring candidates to BlueSteps,
search consultants can be assured
that their focus on candidate care will
ďĞ ĐŽŶƟŶƵĞĚ ƐĞĂŵůĞƐƐůLJ ĂŶĚ ǁŝƚŚ
equal quality.
Unsolicited resumes:
džĞĐƵƟǀĞ ƐĞĂƌĐŚ ĐŽŶƐƵůƚĂŶƚƐ ůŝŬĞůLJ
receive unsolicited resumes every
day. How can they handle unsolicited
resumes in a way that ensures these
ƉŽƚĞŶƟĂů ĐĂŶĚŝĚĂƚĞƐ ĨĞĞů ĐĂƌĞĚ ĨŽƌ
when the consultant doesn’t have
Ă ĐƵƌƌĞŶƚ ŽƉƉŽƌƚƵŶŝƚLJ͍  ƌĞĨĞƌƌĂů ƚŽ
ůƵĞ^ƚĞƉƐ ĂŶĚ ŝƚƐ ĞdžĞĐƵƟǀĞ ĐĂƌĞĞƌ
services demonstrates both interest
and caring. The search consultant can
ďĞĐŽŶĮĚĞŶƚƚŚĂƚƚŚĞƐĞĐĂŶĚŝĚĂƚĞƐǁŝůů
feel recognized and supported by the
ƐĞĂƌĐŚĮƌŵĂŶĚďLJ^͘
Unsuccessful candidates:
&Žƌ ĞǀĞƌLJ ĂƐƐŝŐŶŵĞŶƚ͕ ƚŚĞƌĞ ĂƌĞ
several top candidates who just
ǁĞƌĞŶ͛ƚ ƐĞůĞĐƚĞĚ ĨŽƌ ƚŚĞ ƉĂƌƟĐƵůĂƌ
ŽƉƉŽƌƚƵŶŝƚLJ͘ dŚĞƐĞ ĞdžĞĐƵƟǀĞƐ ŵĂLJ
ďĞŶĞĮƚ ĨƌŽŵ Ă ƌĞĨĞƌƌĂů ƚŽ ůƵĞ^ƚĞƉƐ
ĂŶĚ ŝƚƐ džĞĐƵƟǀĞ ĂƌĞĞƌ ^ĞƌǀŝĐĞƐ͘
Maybe they could use help enhancing
ƚŚĞŝƌ ƌĞƐƵŵĞ Žƌ >ŝŶŬĞĚ/Ŷ WƌŽĮůĞ͕ Žƌ
Candidate Care also means
data security compliance
A key aspect of candidate care is
ƉƌŽƚĞĐƟŶŐ ĐĂŶĚŝĚĂƚĞƐ͛ ĐŽŶĮĚĞŶƟĂůŝƚLJ͘
BlueSteps has a long history of ensuring
that candidates are treated with the
ƵƚŵŽƐƚ ĐŽŶĮĚĞŶƟĂůŝƚLJ͕ ƉƌŝǀĂĐLJ ĂŶĚ
security. BlueSteps is in compliance with
ĐƵƌƌĞŶƚďĞƐƚƉƌĂĐƟĐĞŐƵŝĚĞůŝŶĞƐĂŶĚǁŝůů
ĞŶƐƵƌĞƚŚĂƚĐĂŶĚŝĚĂƚĞĚĂƚĂĐŽŶƟŶƵĞƐƚŽ
ĂůŝŐŶ ǁŝƚŚ ĞŵĞƌŐŝŶŐ ƌĞŐƵůĂƟŽŶƐ͕ ŵŽƐƚ
ŶŽƚĂďůLJ h ĂƚĂ WƌŝǀĂĐLJ ƌĞŐƵůĂƟŽŶ
that addresses both data privacy and
data security. AESC is developing best
ƉƌĂĐƟĐĞ ŐƵŝĚĞůŝŶĞƐ ĨŽƌ ŝƚƐ ŵĞŵďĞƌƐ ĂŶĚ
these same guidelines will be followed
by AESC’s BlueSteps service. BlueSteps
understands the importance of candidate
consent and transparency in terms of
how candidate data is shared only with
ƚŚĞ ůĞĂĚŝŶŐ ƐĞĂƌĐŚ ĮƌŵƐ ĂƌŽƵŶĚ ƚŚĞ
ǁŽƌůĚͶ^ ŵĞŵďĞƌƐ͘ dŚĞƐĞ ĮƌŵƐ ĂƌĞ
ĐŽŵŵŝƩĞĚƚŽ^ƐƚĂŶĚĂƌĚƐŝŶĐůƵĚŝŶŐĂ
ĐŽŵŵŝƚŵĞŶƚƚŽĐŽŶĮĚĞŶƟĂůŝƚLJ͘
“I found the career resources of
BlueSteps extremely useful. I gained
valuable guidance from search
consultants and from executive
coaches [including] very useful advice
about job search strategy, personal
branding and networking. The tips for
interviewing and negotiation are also
outstanding.”
Global Vice President: Commercial
Initiatives, US
“BlueSteps Executive Career Services
was hugely valuable in identifying,
positioning and communicating
messaging changes I needed to focus
on my value as a Board member.
Working with [BlueSteps] has led to
an incredible transformation and
improvement of my resume, LinkedIn
profile and other marketing materials.
This investment in my future career
has already generated returns many
times over.”
Board Member, USA
džĞĐƵƟǀĞdĂůĞŶƚͲϮϭ
“Many candidates find ĐŽĂĐŚŝŶŐ ƚŽ ďĞƩĞƌ ƉŽƐŝƟŽŶ ƚŚĞŵƐĞůǀĞƐ ĨŽƌ Why BlueSteps and not some
the search process very the next opportunity, or simply a broader other resource?
rewarding, regardless ƌĂŶŐĞ ŽĨ ĞdžƉŽƐƵƌĞ ƚŽ ƚŚĞ ůĞĂĚŝŶŐ ĞdžĞĐƵƟǀĞ BlueSteps advisors have a deep understanding
of the outcome. With ƐĞĂƌĐŚ ĮƌŵƐ ǁŽƌůĚǁŝĚĞͶ^ ŵĞŵďĞƌƐ͘ ŽĨ ĞdžĞĐƵƟǀĞ ƐĞĂƌĐŚ͕ ĂŶĚ ǁŽƌŬ ǀĞƌLJ ĐůŽƐĞůLJ
the guidance of a top Whatever services they choose, they will ǁŝƚŚ ƚŚĞ ĞdžĞĐƵƟǀĞ ĐĂŶĚŝĚĂƚĞ ƚŽ ƵŶĚĞƌƐƚĂŶĚ
executive search firm, experience the extension of AESC candidate ĂŶĚ ĂƌƟĐƵůĂƚĞ ƚŚĞŝƌ ƵŶŝƋƵĞ ǀĂůƵĞ ŝŶ ŽƌĚĞƌ ƚŽ
candidates have the care. ƉƌŽĚƵĐĞŵĂƚĞƌŝĂůƐƚŚĂƚĚŝīĞƌĞŶƟĂƚĞƚŚĞŵĨƌŽŵ
chance to explore other candidates in the market. And perhaps
their own interests and ͞/ ǁĂŶƚ ƚŽ ďĞ ŽŶ ƌĞĐŽƌĚ ƚŚĂƚ ŵLJ ĐŽĂĐŚ most importantly, BlueSteps is predicated on
aptitudes, and even ŚĂƐďĞĞŶĂŵĂnjŝŶŐ͘΀͙΁dŚŽƐĞǁŚŽŚĂǀĞ ĐŽŶĮĚĞŶƟĂůŝƚLJ͕ĂŶĚŽŌĞŶƐĞŶŝŽƌĞdžĞĐƵƟǀĞƐĚŽ
hone their interview ƌĞǀŝĞǁĞĚ ŵLJ ƌĞƐƵŵĞ ƵƐĞ ǁŽƌĚƐ ůŝŬĞ ŶŽƚǁĂŶƚƚŚĞŝƌĐĂƌĞĞƌĂƐƉŝƌĂƟŽŶƐĞdžƉŽƐĞĚ͘
and negotiation skills. ͞ƉŽǁĞƌĨƵů͟ƚŽĚĞƐĐƌŝďĞŝƚ͘
In the end, it’s always ŚŝĞĨ/ŶĨŽƌŵĂƟŽŶKĸĐĞƌ͕ ͞tŚĞƚŚĞƌ ŝƚ͛Ɛ ĂŶ ĞdžĞĐƵƟǀĞ ůŽŽŬŝŶŐ ĨŽƌ
a win. A candidate :ĂƉĂŶ Ă ĐŚĂŶŐĞ Žƌ ƐŽŵĞŽŶĞ ǁŚŽ ǁĂŶƚƐ ƚŽ
either has a new ĮŶĞͲƚƵŶĞ ƚŚĞŝƌ ƉŽƐŝƟŽŶŝŶŐ ĨŽƌ Ă ďŽĂƌĚ͕
challenge within a new Pre-candidates: ŽƵƌ ĐĂƌĞĞƌ ĐŽĂĐŚĞƐ ĂƌĞ ƌĞĂůůLJ ĞdžƉĞƌƚƐ ŝŶ
organization, or has Many people reach out to BlueSteps ƚŚĞŝƌ ĮĞůĚ͘ tĞ ŚĞůƉ ĞdžĞĐƵƟǀĞƐ ǁŚŽ ŚĂǀĞ
become a known entity because they want to improve their ŶĞǀĞƌ ŚĂĚ Ă >ŝŶŬĞĚ/Ŷ ƉƌŽĮůĞ͘ dŚĞLJ ŵĂLJ
to a reputable search ͞ŵĂƌŬĞƚ ƉŽƐŝƟŽŶŝŶŐ͟ ďĞĨŽƌĞ ĂĐƟǀĞůLJ ŶŽƚ ŚĂǀĞ Ă ƌĞƐƵŵĞ ďĞĐĂƵƐĞ ƚŚĞLJ ŚĂǀĞŶ͛ƚ
firm, which could open beginning their search. They may not be ŶĞĞĚĞĚ ŽŶĞ ĨŽƌ ĚĞĐĂĚĞƐ͘ tĞ ƉƌŽǀŝĚĞ Ă
other doors.” in the job market yet, but they want to be ƌĞĂů ƐĞƌǀŝĐĞ ďĞĐĂƵƐĞ ŽŌĞŶ ǁĞ ǁŝůů ǁŽƌŬ
From the AESC certain they are ready. And they want to ǁŝƚŚƉĞŽƉůĞǁŚŽŵĂLJŶŽƚŚĂǀĞĚĞǀĞůŽƉĞĚ
Candidate Bill of Rights ďĞƐĞĞŶďLJƚŚĞďĞƐƚĮƌŵƐǁŝƚŚƚŚĞƐƉĞĐŝĂů ĂƉƌŽĨĞƐƐŝŽŶĂůĨŽĐƵƐ͕ĂŶĚƚŚŝƐŝƐǁŚĞƌĞǁĞ
opportunity that just might come their ƌĞĂůůLJƉůĂLJƚŽŽƵƌƐƚƌĞŶŐƚŚƐ͘͟
way. <ĂƚŚLJ^ŝŵŵŽŶƐ͕džĞĐƵƟǀĞŝƌĞĐƚŽƌ͕
ůƵĞ^ƚĞƉƐdžĞĐƵƟǀĞĂƌĞĞƌ^ĞƌǀŝĐĞƐ

dŚĂŶŬLJŽƵƚŽϮϬϭϳ'ůŽďĂůŽŶĨĞƌĞŶĐĞƐƵƉƉŽƌƚĞƌ^ƉĞŶĐĞƌ^ƚƵĂƌƚ͘

Are you ready?

In a time of unprecedented change, we help organizations around
the world make the leadership decisions that have lasting impact.

Spencer Stuart has been providing clients with the knowledge and advice they need to make informed
senior leadership decisions for more than 60 years. Through our portfolio of services, we work in
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and help organizations evaluate talent and prepare for their future leadership needs.

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 canzdizdate care
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AESC cares about

Candidate Care.
AESC’s BlueSteps service helps busy executives manage their
careers, track their goals and stay visible to the right recruiters.

How BlueSteps works:

BE NOTICED
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top recruiters who can contact you when
you’re a match for an executive job or
board opportunity.
NETWORK
Connect with recruiters and learn about
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Identify jobs, board positions and recruiters
by industry, function & geography.

PLAN & TRACK GET ADVICE

Leverage BlueSteps expert resources to Receive a consultation from our
map a career plan for every step of your best-in-class team of executive coaches and
career and track your goals using the career branding experts. Access coaching
MyGoals feature. and branding services when you need them.
 The Past, A
ESC President and CEO Karen
Greenbaum heard a comment
she’ll never forget. It came from
Present
an audience member during a panel
discussion last year at the AESC Client
Conference in Mumbai, India. “He raised
and
his hand and said, ‘this business hasn’t
ĐŚĂŶŐĞĚŝŶƚǁĞŶƚLJLJĞĂƌƐ͛͘͟dŚĞƐƉĞĂŬĞƌ
said, “If I compared a proposal today
Future of
ǁŝƚŚŽŶĞƚŚĂƚǁĂƐǁƌŝƩĞŶϮϬLJĞĂƌƐĂŐŽ͕
ƚŚĞLJ ǁŽƵůĚ ďĞ ŝĚĞŶƟĐĂů͘ dŚŝƐ ďƵƐŝŶĞƐƐ
hasn’t changed in any way, shape or
Executive
ĨŽƌŵ͘͟ 'ƌĞĞŶďĂƵŵ ƚŚŽƵŐŚƚ ƚŽ ŚĞƌƐĞůĨ͕
͞ƚŚĂƚ͛ƐŶŽƚƚƌƵĞ͙ŝƐŝƚ͍͟
Greenbaum decided to explore the
Search
ĞǀŽůƵƟŽŶ ŽĨ ĞdžĞĐƵƟǀĞ ƐĞĂƌĐŚ͕ ĨƌŽŵ
its postwar beginnings to the present
day. What she found is a vibrant,
ĐŽŵƉĞƟƟǀĞ͕ ĂŶĚ ĚĞĞƉůLJ ƌĞůĞǀĂŶƚ
AESC President and CEO, profession not simply keeping pace
Karen Greenbaum, explores with the global market for talent, but
ĚĞůŝǀĞƌŝŶŐ ƐŽƉŚŝƐƟĐĂƚĞĚ ĂĚǀŝƐŽƌLJ ǁŽƌŬ͕
ƚŚĞĞdžĞĐƵƟǀĞƐĞĂƌĐŚĂŶĚ ĞůĞǀĂƟŶŐůĞĂĚĞƌƐŚŝƉǁŽƌůĚǁŝĚĞ͘
ůĞĂĚĞƌƐŚŝƉĐŽŶƐƵůƟŶŐ
ƉƌŽĨĞƐƐŝŽŶ͛ƐĞǀŽůƵƟŽŶĂŶĚ
Some History
ƚŚĞƐŚŝŌŝŶŐĚĞŵĂŶĚƐŽĨ džĞĐƵƟǀĞƐĞĂƌĐŚŚĂƐĂůǁĂLJƐďĞĞŶƉĂƌƚ
clients ŽĨ ĂŶ ĂĚǀŝƐŽƌLJ ƌĞůĂƟŽŶƐŚŝƉ͕ ďƵƚ ǁŚĞŶ
ĚŝĚƚŚĞƐĞƌǀŝĐĞĞǀŽůǀĞŝŶƚŽĂƉƌŽĨĞƐƐŝŽŶ͍
/Ŷ ƚŚĞ ŵŝĚͲϭϵϰϬƐ͕ ďƵƐŝŶĞƐƐĞƐ ŝŶ ƚŚĞ h^
and Europe began to adapt to post-
war prosperity. This led to the rise of
ĐŽŵƉĞƟƟŽŶĨŽƌĞdžƉĞƌŝĞŶĐĞĚĞdžĞĐƵƟǀĞƐ͕
and a willingness to look for those
leaders beyond the company walls
ĂŶĚ ĂĐƌŽƐƐ ŝŶƚĞƌŶĂƟŽŶĂů ďŽƌĚĞƌƐ͘ dŚĂƚ
growing demand was the catalyst for the
ĞŵĞƌŐŝŶŐ ĞdžĞĐƵƟǀĞ ƐĞĂƌĐŚ ƉƌŽĨĞƐƐŝŽŶ͘
KƌŝŐŝŶĂůůLJ Ă ĨƵŶĐƟŽŶ ŽĨ ŵĂŶĂŐĞŵĞŶƚ
ϮϰͲdžĞĐƵƟǀĞdĂůĞŶƚ
ĐŽŶƐƵůƟŶŐ͕ ĞdžĞĐƵƟǀĞ ƐĞĂƌĐŚ ďĞĐĂŵĞ Ă
thriving profession for consultants and a
ĐŽŵƉĞƟƟǀĞĂĚǀĂŶƚĂŐĞĨŽƌĐůŝĞŶƚƐ͘LJƚŚĞ
ϭϵϲϬƐĂŶĚϳϬƐƚŚĞŶĞĞĚĨŽƌĞdžƉĞƌŝĞŶĐĞĚ
ĞdžĞĐƵƟǀĞƐ ŽƵƚƉĂĐĞĚ ĐŽŵƉĂŶŝĞƐ͛ ĂďŝůŝƚLJ
ƚŽ Įůů ƚŚŽƐĞ ƉŽƐŝƟŽŶƐ ŝŶƚĞƌŶĂůůLJ͕ ĂŶĚ Ă
more open market for talent expanded
ƚŚĞĚĞŵĂŶĚĨŽƌĞdžĞĐƵƟǀĞƐĞĂƌĐŚ͘dŽĚĂLJ͕
ĞdžĞĐƵƟǀĞƐĞĂƌĐŚŝƐĂΨϭϮŝůůŝŽŶŝŶĚƵƐƚƌLJ͘
In the last 20 years, global markets
ŚĂǀĞ ƵŶĚĞƌŐŽŶĞ ŵĂƐƐŝǀĞ ƐŚŝŌƐ͕ ĂŶĚ
what were emerging markets are now
ƉŽŝƐĞĚ ƚŽ ĞdžĞƌƚ Ă ƉŽǁĞƌĨƵů ŝŶŇƵĞŶĐĞ
on the world economy. How we
ĐŽŵŵƵŶŝĐĂƚĞ ŚĂƐ ĂŵƉůŝĮĞĚ ŵŝůůŝŽŶƐ
of voices, sparked social change, and
ĐŽŶŶĞĐƚĞĚ ĐŽŶƟŶĞŶƚƐ͘ dĞĐŚŶŽůŽŐLJ
ĐŽŶƟŶƵĞƐ ƚŽ ƌĞŝŶǀĞŶƚ ŚŽǁ ƉĞŽƉůĞ ůŝǀĞ͕
ǁŽƌŬ ĂŶĚ ĐŽŶĚƵĐƚ ďƵƐŝŶĞƐƐ͘ džĞĐƵƟǀĞ
search has changed, too.
The Evolution of Search
In response to that speaker in Mumbai,
Greenbaum suggests that the structure
of a search may not have changed that
much: take the assignment, determine
ƚŚĞŝĚĞĂůĐĂŶĚŝĚĂƚĞƉƌŽĮůĞ͕ĐŽŶĚƵĐƚƚŚĞ
search, complete the assessment and
ƌĞĨĞƌĞŶĐĞ ĐŚĞĐŬŝŶŐ͕ ŶĞŐŽƟĂƚĞ ƚŽ LJĞƐ͕
and complete onboarding. She says, “If
you’re just looking at that highest level,
you might say nothing’s changed. But I
ƚŚŝŶŬLJŽƵŚĂǀĞƚŽŐŽĂůĞǀĞůĚĞĞƉĞƌ͘͟
&ŝƌƐƚ͕^ƌĞƐĞĂƌĐŚƐŚŽǁƐƚŚĂƚĐůŝĞŶƚ
ĞdžƉĞĐƚĂƟŽŶƐ ŚĂǀĞ ĐŚĂŶŐĞĚ͘ dŚĞ ƐŝŶŐůĞ
ŵŽƐƚ ŝŵƉŽƌƚĂŶƚ ĐƌŝƚĞƌŝĂ ĨŽƌ ƐĞůĞĐƟŶŐ
ĂŶ ĞdžĞĐƵƟǀĞ ƐĞĂƌĐŚ Įƌŵ ƚŽĚĂLJ ŝƐ
ĞdžƉĞƌƟƐĞ ĂĐƌŽƐƐ ŝŶĚƵƐƚƌLJ͕ ĨƵŶĐƟŽŶ ĂŶĚ
market. Twenty years ago, one could
have been a generalist. Greenbaum
ĞdžƉůĂŝŶƐ͕ ͞zŽƵ ǁŽƵůĚ ƐƟůů ĐŽŵĞ ƚŽ ƚŚĞ
table with knowledge and experience,
but what you were selling was your
ĂďŝůŝƚLJ ƚŽ ĚŽ ƐĞĂƌĐŚ͘͟ dŽĚĂLJ͕ ĐůŝĞŶƚƐ
ĞdžƉĞĐƚĂ͞ŵĂŶĂŐĞŵĞŶƚĐŽŶƐƵůƚĂŶƚ͟ǁŚŽ
understands their industry and their
ĨƵŶĐƟŽŶ͕ ĂŶĚ ĐĂŶ ďƌŝŶŐ ƚŚĂƚ ĞdžƉĞƌƟƐĞ
to the table. Those who are generalists
ƚŽĚĂLJ ďƌŝŶŐ ƚŚĂƚ ĚĞĞƉ ĞdžƉĞƌƟƐĞ͕
regardless of how they are organized.
ŶŽƚŚĞƌĐŚĂŶŐĞŝŶĐůŝĞŶƚĞdžƉĞĐƚĂƟŽŶƐ
is the demand for speed. AESC members
ĂƌĞ ƐĞĞŝŶŐ ĐŽŶƟŶƵŽƵƐ ĂŶĚ ŝŶĐƌĞĂƐĞĚ
pressure to do everything faster.
Greenbaum considers the reasons for
ƚŚĞ ŝŶĐƌĞĂƐĞĚ ĚĞŵĂŶĚ͘ ͞&ŝƌƐƚ͕ ǁĞ ĂƌĞ
ŚĞůƉŝŶŐ ƚŚĞŵ Įůů ƚŚĞŝƌ ŵŽƐƚ ŝŵƉŽƌƚĂŶƚ
ƉŽƐŝƟŽŶƐ ĂŶĚ ƚŚĞLJ ĚŽŶ͛ƚ ǁĂŶƚ ƚŽ ǁĂŝƚ
ƐŝdžŵŽŶƚŚƐƚŽĮŶĚƚŚĞƌŝŐŚƚ&KŽƌK͘
The other reality is that technology has
created an ability to move more quickly.
The client has responded in kind and
ƐĂŝĚ͕͚/ŬŶŽǁLJŽƵĐĂŶŐŽĨĂƐƚĞƌ͛͘͟
ŶŽƚŚĞƌ ƐŝŐŶŝĮĐĂŶƚ ĐŚĂŶŐĞ ŝŶ ĐůŝĞŶƚ
ĞdžƉĞĐƚĂƟŽŶƐ ŽǀĞƌ ƚŚĞ ůĂƐƚ ϮϬ LJĞĂƌƐ ŝƐ
diversity. According to AESC research,
the number one issue clients around
ƚŚĞ ǁŽƌůĚ ŝĚĞŶƟĨLJ ŝƐ Ă ůĂĐŬ ŽĨ ĚŝǀĞƌƐŝƚLJ
among their leaders. Greenbaum says,
“Diversity is certainly about gender, but
it is also about race and ethnicity. And,
ŝƚ͛Ɛ ĂďŽƵƚ ĚŝǀĞƌƐŝƚLJ ŽĨ ƐŬŝůůƐ͕ ĞdžƉĞƌƟƐĞ
ĂŶĚĞǀĞŶĂŐĞ͘͟ƌĞĂƟŶŐĂĚŝǀĞƌƐĞƚĞĂŵ
creates diversity of thought, which
ĚƌŝǀĞƐŝŶŶŽǀĂƟŽŶĂŶĚĞŶŚĂŶĐĞƐĂĮƌŵ͛Ɛ
ability to connect with customers and
ĞŵƉůŽLJĞĞƐ͘͟
/Ŷ ĂĚĚŝƟŽŶ ƚŽ ŵĞĞƟŶŐ ŶĞǁ AESC members, looking
ĞdžƉĞĐƚĂƟŽŶƐ͕ƚŚĞƉƌŽĨĞƐƐŝŽŶŚĂƐĞǀŽůǀĞĚ forward
in the scope of services as well as how Firms should be looking to the
those services are delivered. future, asking important internal
questions and examining their own
The Assignment processes. Have we differentiated
A search assignment is no longer as our brand? Are we truly a trusted
ƐŝŵƉůĞĂƐĮŶĚŝŶŐĂƉĞƌƐŽŶǁŚŽŚĂƐŚĞůĚ advisor? How do we strengthen
a certain role in a certain industry for 20 industrial, functional, and market
expertise? How do we leverage
years. Search has become a very complex
technology for speed and
service that requires a comprehensive
engagement? Has our assessment
understanding of the client, including changed? Are we using the right
ƚŚĞŽƌŐĂŶŝnjĂƟŽŶ͛ƐŵĂƌŬĞƚĂŶĚƌĞŐƵůĂƚŽƌLJ new tools? Are we developing
environment. The assignment also the next generation in our own
requires a deep dive into client culture, profession? Are we bringing a
structure, and strategy, to ensure that diverse team to the client?
the search results in a diverse slate of Greenbaum reminds members
ĐĂŶĚŝĚĂƚĞƐǁŝƚŚƚŚĞŚŝŐŚĞƐƚƉŽƚĞŶƟĂůƚŽ that AESC membership is highly
succeed. selective, and hopes members are
leveraging the AESC brand. She
The Search says, “As members, you truly are the
cream of the crop. Use AESC as part
^ĞĂƌĐŚŝƚƐĞůĨŝƐĚŝīĞƌĞŶƚ͕ĞǀŽůǀŝŶŐĨƌŽŵ
of your differentiation.”
ƚŚĞŽůĚǁŽƌůĚƌŽůŽĚĞdžƚŽĂŶĞŶƟƌĞƐƵŝƚĞ
of tools. Greenbaum explains, “Now, the
ƐĞĂƌĐŚĮƌŵLJŽƵŚŝƌĞŚĂƐŐƌĞĂƚŶĞƚǁŽƌŬƐ
and knowledge, but also proprietary
databases. They conduct Boolean
searches and x-ray searches, and they
leverage social media. They look at
ŝŶĚƵƐƚƌLJŶĞǁƐĂŶĚƚŚŽƵŐŚƚůĞĂĚĞƌƐŚŝƉ͘͟
Search also requires leveraging tools and
ŝŶƐŝŐŚƚƐ ƚŽ Įůů ŚŝŐŚͲĚĞŵĂŶĚ ƌŽůĞƐ ƚŚĂƚ
ĚŝĚŶ͛ƚĞdžŝƐƚϮϬLJĞĂƌƐĂŐŽ͕ĂŶĚĂŶƟĐŝƉĂƚĞ
ƚŚĞƐŬŝůůƐŶĞĐĞƐƐĂƌLJƚŽĮůůƌŽůĞƐƚŚĂƚĂƌĞ
likely to transform at an unprecedented
pace. Greenbaum adds, “What hasn’t
changed is the all-important human
ĐŽŶŶĞĐƟŽŶ͘ dŚĂƚ͛Ɛ ǁŚĂƚ ŵĂŬĞƐ ƚŚŝƐ Ăůů
ǁŽƌŬ͘͟
džĞĐƵƟǀĞdĂůĞŶƚͲϮϱ
 Assessment
WĞƌŚĂƉƐƚŚĞŵŽƐƚƐŝŐŶŝĮĐĂŶƚĞǀŽůƵƟŽŶ
over the last 20 years is in assessment.
Ŷ ĞīĞĐƟǀĞ ĐĂŶĚŝĚĂƚĞ ĂƐƐĞƐƐŵĞŶƚ ƐƟůů
depends on in-depth interviewing and
a deep understanding of candidates’
ŝŶĚƵƐƚƌLJ ĂŶĚ ĨƵŶĐƟŽŶĂů ĞdžƉĞƌƟƐĞ͘
Greenbaum says, “We did that 20 years
ĂŐŽ͕ ĂŶĚ ǁĞ ĚŽ ŝƚ ƚŽĚĂLJ͘͟ ,ŽǁĞǀĞƌ͕
current assessment techniques are more
ƐŽƉŚŝƐƟĐĂƚĞĚ͕ǁŝƚŚĂƐƵŝƚĞŽĨƚĞĐŚŶŽůŽŐLJͲ
based tools combined with in–depth
interviewing, role-playing, case studies,
ĂŶĚ ƐŝƚƵĂƟŽŶĂů ƌĞƐƉŽŶƐĞƐ ĞǀĂůƵĂƚĞĚ ďLJ
seasoned experts.
dŚŽŵĂƐ &ƌŝĞĚŵĂŶ ŝƐ Ă WƵůŝƚnjĞƌ ƉƌŝnjĞͲ
winning author and a EĞǁzŽƌŬdŝŵĞƐ Op-
Ed columnist who specializes in foreign
ĂīĂŝƌƐ͕ ŐůŽďĂůŝnjĂƟŽŶ ĂŶĚ ƚĞĐŚŶŽůŽŐLJ͘ ,Ğ
writes, “The best jobs in the future are
going to be what I call “STEMpathy jobs
— jobs that blend STEM skills (science,
technology, engineering, math) with
ŚƵŵĂŶĞŵƉĂƚŚLJ͘͟^ŵĞŵďĞƌƐĂƐƐĞƐƐ
for those skills, for example, with tools
that can determine if a candidate is an
ĂŐŝůĞůĞĂƌŶĞƌ͘ŐŝůŝƚLJŝƐĐƌŝƟĐĂůůLJŝŵƉŽƌƚĂŶƚ
ĂƐŚŝƌŝŶŐĮƌŵƐƚƌLJƚŽĮůůƌŽůĞƐƚŚĂƚĚŝĚŶ͛ƚ
exist ten years ago, as well as roles that
are rapidly changing. The best candidates
ǁŝůůŚĂǀĞďŽƚŚƚĞĐŚŶŝĐĂůĞdžƉĞƌƟƐĞĂŶĚƐŽŌ
ƐŬŝůůƐ͕ŝŶĐůƵĚŝŶŐĞŵŽƟŽŶĂůŝŶƚĞůůŝŐĞŶĐĞĂŶĚ
ĂŐŝůŝƚLJ͘ 'ƌĞĞŶďĂƵŵ ƐĂLJƐ͕ ͞/ŶƚĞƌĞƐƟŶŐůLJ͕
our own assessment process is also
^dDƉĂƚŚLJ process – combining science
ǁŝƚŚŚƵŵĂŶŝŶƐƟŶĐƚĂŶĚĞdžƉĞƌŝĞŶĐĞ͘͟
Background and reference checking
tŝƚŚ ƚŚĞ ĂĚĚŝƟŽŶĂů ůĂLJĞƌ ŽĨ ƐŽĐŝĂů
ŵĞĚŝĂ͕ Ă ĐĂŶĚŝĚĂƚĞ͛Ɛ ƉŽůŝƟĐĂů ǀŝĞǁƐ͕
ϮϲͲdžĞĐƵƟǀĞdĂůĞŶƚ
ƉƵďůŝĐ ŝŶƚĞƌĂĐƟŽŶƐ͕ ĂŶĚ ǁŚĂƚ ƚŚĞLJ ĚŽ
ŽƵƚƐŝĚĞŽĨǁŽƌŬĐŽƵůĚŝŶŇƵĞŶĐĞĂŚŝƌŝŶŐ
decision. AESC provides guidelines on
ŚŽǁ ŵĞŵďĞƌƐ ĐĂŶ ƵƐĞ ƚŚŝƐ ŝŶĨŽƌŵĂƟŽŶ
ĨĂŝƌůLJ͕ ĂƉƉƌŽƉƌŝĂƚĞůLJ ĂŶĚ ůĞŐĂůůLJ͘ &Žƌ
example, members only search public
ŝŶĨŽƌŵĂƟŽŶĂŶĚŶĞǀĞƌĂƐŬĨŽƌƉĂƐƐǁŽƌĚƐ͘
They maintain accuracy and give
candidates an opportunity to respond
to something adverse. And members
know the laws about what they can and
ĐĂŶŶŽƚ ĂƐŬ͘ ǀĞƌLJ ĐŽƵŶƚƌLJ ŝƐ ĚŝīĞƌĞŶƚ͕
and privacy laws are more rigorous.
EĞŐŽƟĂƟŶŐƚŽLJĞƐ
/Ŷ ƐŽŵĞ ǁĂLJƐ ŐĞƫŶŐ ƚŽ ͞LJĞƐ͟ ŚĂƐ
ŶŽƚ ĐŚĂŶŐĞĚͶĐŽŶƐƵůƚĂŶƚƐ ƐƟůů ŵƵƐƚ
ĚĞǀĞůŽƉƐƚƌŽŶŐƌĞůĂƟŽŶƐŚŝƉƐĂŶĚĞĂƌŶĂ
candidate’s trust. More challenging today
ĂƌĞ ƚŚĞ ŶĞǁ͕ ŚĂƌĚͲƚŽͲĮůů ĞdžĞĐƵƟǀĞ ƌŽůĞƐ
in which the best candidates are in great
ĚĞŵĂŶĚ͕ĂŶĚĂƌĞŽŌĞŶĮĞůĚŝŶŐĂŶƵŵďĞƌ
ŽĨŐƌĞĂƚŽƉƉŽƌƚƵŶŝƟĞƐ͘'ƌĞĞŶďĂƵŵƐĂLJƐ͕
͞/ŶĂŶLJƌŽůĞǁĞ͛ƌĞŐŽŝŶŐĂŌĞƌƚŚŽƐĞǁŚŽ
ĂƌĞ ƚŚĞ ďĞƐƚ ŝŶ ƚŚĞŝƌ ĮĞůĚ͘ ŌĞƌ ǁĞ͛ǀĞ
ĚĞƚĞƌŵŝŶĞĚĂŐƌĞĂƚĮƚ͕ƚŚĞĐŚĂůůĞŶŐĞŝƐƚŽ
help the candidate see our client as the
ƌŝŐŚƚ ŽƉƉŽƌƚƵŶŝƚLJ͘͟ dŚĂƚ͛Ɛ ǁŚĞƌĞ ŚĂǀŝŶŐ
ƌĞĂů ĞdžƉĞƌŝĞŶĐĞ ŝŶ ŐĞƫŶŐ ƐŽŵĞŽŶĞ ƚŽ
͞LJĞƐ͟ŝƐĐƌŝƟĐĂů͘
Onboarding
Twenty years ago, onboarding was
as simple as check-in calls, and that
may no longer be enough. Greenbaum
says, “We’re hearing from candidates
that they wish they had more help with
ŽŶďŽĂƌĚŝŶŐ͘͟ 'ƌĞĞŶďĂƵŵ ĞdžƉůĂŝŶƐ ƚŚĂƚ
candidates, consultants and clients have
ƚŚĞ ƐĂŵĞ ŐŽĂů͗ ͞ŐĞƫŶŐ ƚŚĂƚ ĐĂŶĚŝĚĂƚĞ
you wanted so badly to ƐƵĐĐĞĞĚ͟ ĂŶĚ
consultants have an emerging role in helping
assure that success.
Where search is headed
Clients are asking their advisors to provide
counsel on a broader basis: for example,
assessing leadership teams, advising boards
ŽŶƚŚĞŝƌĞīĞĐƟǀĞŶĞƐƐ͕ƐƵĐĐĞƐƐŝŽŶƉůĂŶŶŝŶŐ
and culture assessment. Greenbaum
ƐĂLJƐ͕ ͞dŚĞ ƉƌŽĨĞƐƐŝŽŶ ƌĞƋƵŝƌĞƐ ĂŐŝůŝƚLJ͘͟ &Žƌ
ĞdžĂŵƉůĞ͕ĐůŝĞŶƚƐĂƌĞůŽŽŬŝŶŐƚŽĮůůƌĞůĂƟǀĞůLJ
new C-suite roles. Greenbaum explains,
͞zŽƵĐĂŶ͛ƚƐŝŵƉůLJĮŶĚƐŽŵĞŽŶĞǁŚŽ͛ƐĚŽŶĞ
a job for 20 years, when it’s a role that
ĚŝĚŶ͛ƚĞdžŝƐƚƚĞŶLJĞĂƌƐĂŐŽ͘͟^ŚĞƐĂLJƐ͕͞tŚĞŶ
consultants go into an assignment they are
ŶŽƚ ũƵƐƚ ĮůůŝŶŐ Ă ƐůŽƚ͕ ƚŚĞLJ ŚĂǀĞ ƚŽ ƚŚŝŶŬ
ĐƌĞĂƟǀĞůLJ͘͟
ĂŶĚŝĚĂƚĞ ƉƌŽĮůĞƐ ĂƌĞ ĐŚĂŶŐŝŶŐ͕ ĂŶĚ
clients are frequently looking more widely
ĨŽƌ ŬĞLJ ƉŽƐŝƟŽŶƐ͕ ƌĞƋƵŝƌŝŶŐ ŝŶŶŽǀĂƟǀĞ
approaches and greater depth from advisors.
&ŽƌĞdžĂŵƉůĞ͕ƚŚĞŝŶĚƵƐƚƌŝĂůƐĞŐŵĞŶƚŽĨƚŚĞ
ŐůŽďĂůĞĐŽŶŽŵLJŝƐƌĞĚĞĮŶŝŶŐŚŽǁŝƚǁŽƌŬƐ͕
bringing new technology into the industrial
world by tapping talent from outside the
sector. Greenbaum asks, “How do you draw
people from hot, new technology start-
up businesses to old school, 100 year-old
ŝŶĚƵƐƚƌŝĞƐ ůŽŽŬŝŶŐ ĨŽƌ ƚŚŽƐĞ ŶĞǁ ƐŬŝůůƐ͍͟
Professional advisors with deep tech and
industry knowledge ĂŶĚ ƌĞůĂƟŽŶƐŚŝƉƐ ǁŝůů
give their clients the advantage.
džĞĐƵƟǀĞ ƚĂůĞŶƚ ĐŽŶƐƵůƟŶŐ ŵƵƐƚ ĂůƐŽ
accurately assess culture and determine
ĐƵůƚƵƌĂů Įƚ͘ ďŽƵƚ ϳϬй ŽĨ ƉĞŽƉůĞ ǁŚŽ ĨĂŝů
ĚŽ ƐŽ ďĞĐĂƵƐĞ ŽĨ Ă ůĂĐŬ ŽĨ ĐƵůƚƵƌĂů Įƚ͘ ^Ž
ďƌĞĂŬŝŶŐ ƚŚĞ ĐŽĚĞ ŽŶ ĐƵůƚƵƌĂů Įƚ ŝƐ ŬĞLJ͘
Knowing the vision, mission and values of
ƚŚĞŽƌŐĂŶŝnjĂƟŽŶŚĂƐŶ͛ƚĐŚĂŶŐĞĚ͕ďƵƚƚŚĂƚ͛Ɛ
no longer enough. New tools can add real
ĐŽŶƚĞdžƚƚŽƚŚŽƐĞĨŽƵŶĚĂƟŽŶĂůƐƚĂƚĞŵĞŶƚƐ͘
'ƌĞĞŶďĂƵŵĂƐŬƐ͕͞tŚĂƚ͛ƐƚŚĞĚŝīĞƌĞŶĐĞ
between the things that are posted on the
wall and what’s really happening in the
ŽƌŐĂŶŝnjĂƟŽŶ͍͟ /ŵĂŐŝŶĞ Ă ĐůŝĞŶƚ ǁŚŽ ƐƚĂƌƚƐ
a search assignment with a goal of driving
ŝŶŶŽǀĂƟŽŶ͘  /Ĩ ƚŚĞ ĐƵůƚƵƌĞ ĚŽĞƐ ŶŽƚ ĨŽƐƚĞƌ
ŝŶŶŽǀĂƟŽŶ͕ ƚŚĂƚ ĐůŝĞŶƚ ƌŝƐŬƐ ďƌŝŶŐŝŶŐ ŝŶ Ă
ƉĞƌƐŽŶǁŚŽŝƐĚĞƐƟŶĞĚƚŽĨĂŝů͘
ƐƐĞƐƐŝŶŐ ĐƵůƚƵƌĂů Įƚ ĂƉƉůŝĞƐ ƚŽ ƚŚĞ
ĐĂŶĚŝĚĂƚĞ͕ĂƐǁĞůů͘&ŽƌĞdžĂŵƉůĞ͕ĂĐĂŶĚŝĚĂƚĞ
who thrives working as part of a team will
ďĞŵŽƌĞƐƵĐĐĞƐƐĨƵůŝŶĂŶŽƌŐĂŶŝnjĂƟŽŶƚŚĂƚŝƐ
ŚŝŐŚůLJĐŽůůĂďŽƌĂƟǀĞƚŚĂŶƐŽŵĞŽŶĞǁŚŽŚĂƐ
a preference for working independently.
Greenbaum says, “A comprehensive
ĂƐƐĞƐƐŵĞŶƚ ŽĨ ŽƌŐĂŶŝnjĂƟŽŶĂů ĐƵůƚƵƌĞ ĂŶĚ
Ă ĐĂŶĚŝĚĂƚĞ͛Ɛ ĐƵůƚƵƌĂů ƉƌŽĮůĞ ŚĞůƉƐ ƵƐ
ďĞƩĞƌ ƵŶĚĞƌƐƚĂŶĚ ĂŶĚ ƉƌĞĚŝĐƚ ĐĂŶĚŝĚĂƚĞ
Įƚ͘͟ dŚĂƚ ůĞǀĞů ŽĨ ĂƐƐĞƐƐŵĞŶƚ ƌĞƋƵŝƌĞƐ ŶŽƚ
only advanced tools but the judgment,
ĞdžƉĞƌŝĞŶĐĞ ĂŶĚ ŝŶƐŝŐŚƚ ŽĨ ĂŶ ĞdžĞĐƵƟǀĞ
talent expert.
dŚĞƌŽůĞŽĨĞdžĞĐƵƟǀĞƐĞĂƌĐŚ͕ƐƉĞĐŝĮĐĂůůLJ͕
is to provide insight to select talent who are
ŚŝŐŚ ƉĞƌĨŽƌŵŝŶŐ͕ ďĞƩĞƌ ĮƫŶŐ ĂŶĚ ůŽŶŐĞƌ
ůĂƐƟŶŐ͘ 'ƌĞĞŶďĂƵŵ ŽďƐĞƌǀĞƐ͕ ͞tŚĞƚŚĞƌ
it’s exploring new ways of assessing culture
or a candidate’s ability to adapt, we are
leveraging the latest tools with human
ŝŶƐŝŐŚƚƐ͘͟
>ŽŽŬŝŶŐ ďĂĐŬ ϮϬ LJĞĂƌƐ͕ ĞdžĞĐƵƟǀĞ ƐĞĂƌĐŚ
ƐƟůů ƌĞƋƵŝƌĞƐ ƐƉĞĐŝĮĐ ƐƚĞƉƐ͕ ƌĞĮŶĞĚ ƐŬŝůůƐ
ĂŶĚ ƚƌƵƐƟŶŐ ƌĞůĂƟŽŶƐŚŝƉƐ ƚŽ ĨƵůĮůů ĐůŝĞŶƚ
ĞdžƉĞĐƚĂƟŽŶƐ͘ƵƚďĞLJŽŶĚƚŚŽƐĞďĂƐŝĐƐ͕ŝƚ͛Ɛ
a whole new world.
„
džĞĐƵƟǀĞdĂůĞŶƚͲϮϳ
 The Future of Boards
͞'ŽŶĞ ĂůƐŽ ĂƌĞ ƚŚĞ ĚĂLJƐ ǁŚĞŶ ďĞŝŶŐ ŽŶ Ă
ŽĂƌĚ ŽĨ ŝƌĞĐƚŽƌƐ ǁĂƐ ƐĞĞŶ ƉƌŝŵĂƌŝůLJ ĂƐ
Ă ƉƌĞƐƟŐĞ ƉŽƐŝƟŽŶ ĂŶĚ ƐƵƉĞƌǀŝƐŽƌLJ ƌŽůĞ͘
ĞŝŶŐ Ă ŽĂƌĚ DĞŵďĞƌ ŝƐ ŶŽǁ ĂďŽƵƚ ĂĐƟǀĞ
ůĞĂĚĞƌƐŚŝƉ͕ ƉĞƌƐŽŶĂů ĂĐĐŽƵŶƚĂďŝůŝƚLJ ĂŶĚ
ƐĞŶŝŽƌĞdžĞĐƵƟǀĞĐŽĂĐŚŝŶŐƌĂƚŚĞƌƚŚĂŶƉĂƐƐŝǀĞ
ƐƵƉĞƌǀŝƐŝŽŶ͘͟
&ƌŽŵtŚLJ'ŽŽĚŽĂƌĚƐ&Ăŝů͕
^ƚĂŶƚŽŶŚĂƐĞ͕^ĞƉƚĞŵďĞƌϮϬϭϲ
G
lobally, boardrooms are evolving.
,ĞŝŐŚƚĞŶĞĚ ƐĐƌƵƟŶLJ͕ ĞŵƉŽǁĞƌĞĚ
ŝŶǀĞƐƚŽƌƐ͕ ƌŝƐŝŶŐ ĐŽŵƉĞƟƟŽŶ͕
ƌĞŐƵůĂƟŽŶ ĂŶĚ ƚĞĐŚŶŽůŽŐŝĐĂů ĚŝƐƌƵƉƟŽŶ
have combined with the record pace and
ƵŶƉƌĞĚŝĐƚĂďŝůŝƚLJ ŽĨ ĐŚĂŶŐĞ ƚŽ ĚƌĂŵĂƟĐĂůůLJ
alter how boards are comprised and how
they operate. This perfect storm is shaking up
ďŽĂƌĚĐŽŵƉŽƐŝƟŽŶ͕ĞdžƉĂŶĚŝŶŐĂŶĚƌĞĚĞĮŶŝŶŐ
what is expected of boards, and fundamentally
changing what it means to be a director.
tŚĂƚ ŝƐ ĚŝīĞƌĞŶƚ͍ :ƵƐƚƵƐ K͛ƌŝĞŶ ŝƐ ŽͲ
leader of Russell Reynolds’ Board and CEO
Advisory Group, and serves as a Managing
ŝƌĞĐƚŽƌŝŶƚŚĞEĞǁzŽƌŬŽĸĐĞ͘͞dŚĞƌŽůĞŽĨƚŚĞ
board and the demands on board members
ŚĂǀĞĞǀŽůǀĞĚƐŝŐŶŝĮĐĂŶƚůLJ͕ǁŝƚŚŵŽƌĞƐĐƌƵƟŶLJ͕
and more required of directors including much
more engagement around strategy, investor
engagement, and empowerment at the board
ůĞǀĞůŝŶůŽŶŐͲƚĞƌŵKƐƵĐĐĞƐƐŝŽŶƉůĂŶŶŝŶŐ͘͟
O’Brien said, “The investor community
ϮϴͲdžĞĐƵƟǀĞdĂůĞŶƚ
ŚĂƐ ŚĂĚ Ă ƌŽůĞ ŝŶ Ăůů ƚŚŝƐͶďŝŐ͕ ŝŶƐƟƚƵƟŽŶĂů
ŝŶǀĞƐƚŽƌƐ ǁŚŽ ĂƌĞ ĂĚǀŽĐĂƟŶŐ ƌĞĨƌĞƐŚŵĞŶƚ
ƐƚƌĂƚĞŐŝĞƐ͕ ĂĚǀŽĐĂƟŶŐ ĨŽƌ ŐƌĞĂƚĞƌ ĚŝǀĞƌƐŝƚLJ͕
and demanding that boards strike a good
balance between long-term requirements and
short-term results. All of these pressures have
led to a lot of change, and driven companies
ĂŶĚďŽĂƌĚƐƚŽƌĞƚŚŝŶŬŚŽǁƚŚĞLJ͛ƌĞĚŽŝŶŐ͘͟
&ŽƌĞdžĂŵƉůĞ͕ůůĂŶDĂƌŬƐ͕DĂŶĂŐŝŶŐWĂƌƚŶĞƌ͕
Australia, and Regional Leader of the Board
^ĞƌǀŝĐĞƐ WƌĂĐƟĐĞ ĨŽƌ W Ăƚ ŽLJĚĞŶ͕ ƐĂLJƐ͕
“There is a greater focus on boards to assess
ƚŚĞĐĂƉĂďŝůŝƟĞƐƚŚĞLJŶĞĞĚĂŶĚƚƌLJĂŶĚďĞƐƵƌĞ
ƚŚĂƚƚŚĞƌĞŝƐĂďĂůĂŶĐĞĚƉŽƌƞŽůŝŽŽĨĞdžƉĞƌƟƐĞ
within the boardroom. Some of that is related
ƚŽ ƚŚĞ ŝŶĚƵƐƚƌLJ ƚŚĞ ŽƌŐĂŶŝnjĂƟŽŶ ŵŝŐŚƚ ďĞ ŝŶ͕
and some of that is related to skills in other
ĂƌĞĂƐ ƐƵĐŚ ĂƐ ƚĞĐŚŶŽůŽŐLJ ĚŝƐƌƵƉƟŽŶ͘ ^Ž ŝƚ͛Ɛ
ĐŚĂŶŐŝŶŐŝŶƚŚĂƚĐŽŶƚĞdžƚ͘͟
Boards are also broadening the range of
skills and experience that they are seeking,
to serve both the board and the company.
Carter Burgess Jr., Managing Director and
,ĞĂĚŽĨƚŚĞŽĂƌĚZĞĐƌƵŝƟŶŐWƌĂĐƟĐĞĂƚZ^Z
Partners in Greenwich, CT said, “Boards are
ĚŽŝŶŐ Ă ŵƵĐŚ ďĞƩĞƌ ũŽď ŽĨ ďƌŝŶŐŝŶŐ ŽŶ ŶĞǁ
ŵĞŵďĞƌƐ ǁŚŽ ŚĂǀĞ ƉĂƌƟĐƵůĂƌůLJ ƌĞůĞǀĂŶƚ
ĞdžƉĞƌŝĞŶĐĞ͕ ƉĞƌƐƉĞĐƟǀĞ͕ ĂŶĚ ĞdžƉĞƌƟƐĞ͘ dŚŝƐ
ƌĞŇĞĐƚƐ ƚŚĞ ĨĂĐƚ ƚŚĂƚ ďŽĂƌĚƐ ĂƌĞ ĚĞǀŽƟŶŐ
ŵŽƌĞ ƟŵĞ͕ ƚŚŽƵŐŚƚ ĂŶĚ ĞīŽƌƚ ŝŶƚŽ ĐƌĞĂƟŶŐ
ƚŚĞŝƌĐĂŶĚŝĚĂƚĞƉƌŽĮůĞƐǁŝƚŚŝŶƚŚĞĐŽŶƚĞdžƚŽĨ
a more comprehensive long-term succession

ƉůĂŶŶŝŶŐƉƌŽĐĞƐƐ͘͟
ƐĂŶĂůƚĞƌŶĂƟǀĞƚŽƚŚĞŽůĚƌŽůŽĚĞdžƉĂƩĞƌŶ
ŽĨďŽĂƌĚŵĞŵďĞƌƐƌĞĐƌƵŝƟŶŐĂŶĚĞůĞĐƟŶŐƚŚĞ
people they know, more boards are beginning
ƚŽ ĂůŝŐŶ ƐƚƌĂƚĞŐLJ ǁŝƚŚ ďŽĂƌĚ ĐŽŵƉŽƐŝƟŽŶ͘
According to Julie Daum, North American
ŽĂƌĚ WƌĂĐƟĐĞ >ĞĂĚĞƌ Ăƚ ^ƉĞŶĐĞƌ ^ƚƵĂƌƚ͕
“There is a much greater spotlight on board
ĐŽŵƉŽƐŝƟŽŶ͕ŽŶǁŚĂƚƐŬŝůůƐĂƌĞŽŶƚŚĞďŽĂƌĚ͕
and whether they are relevant to the company
strategy now and going forward. They have to
ask themselves ‘do we have the right people
ŝŶ ƚŚĞ ƌŽŽŵ͍͛͟ ĂƵŵ ŽďƐĞƌǀĞĚ͕ ͞WĞŽƉůĞ ĨĞĞů
it is important not to have all longstanding
directors. There is a desire to have turn-over
in the board room, and a desire to have
boards really assess their own performance,
and assess the performance of individual
ĚŝƌĞĐƚŽƌƐ͘͟
<ĂƟĞ >ĂŚĞLJ͕ džĞĐƵƟǀĞ ŚĂŝƌŵĂŶ Ăƚ <ŽƌŶ
&ĞƌƌLJ͕ƵƐƚƌĂůĂƐŝĂƐĂŝĚ͕͞ŽĂƌĚƐ ŚĂǀĞ ƉŽƐƐŝďůLJ
changed more during the past decade than in
ƚŚĞƚǁŽĚĞĐĂĚĞƐƉƌŝŽƌ͘͟/ŶĂĚĚŝƟŽŶƚŽŐƌĞĂƚĞƌ
transparency and stricter governance rules,
>ĂŚĞLJ ƐĂLJƐ͕ ͞ŽŵŵƵŶŝƚLJ ĞdžƉĞĐƚĂƟŽŶƐ ŚĂǀĞ
ĂůƐŽ ŚĂĚ ĂŶ ŝŵƉĂĐƚ͘͟  ^ŚĞ ŽďƐĞƌǀĞĚ͕ ͞ŽĂƌĚ
ĐŽŵƉŽƐŝƟŽŶ ŚĂƐ ĐŚĂŶŐĞĚ ƐŽŵĞǁŚĂƚͶďƵƚ
ďŽĂƌĚƐĂƌĞƐƟůůŶŽƚŶĞĂƌůLJĚŝǀĞƌƐĞĞŶŽƵŐŚ͘͟
DƵĐŚ ŝƐ ƐĂŝĚ ĂďŽƵƚ ƚĞĐŚŶŽůŽŐLJ͕ ĚŝƐƌƵƉƟŽŶ͕
ĂŶĚŚŽǁďŽĂƌĚƐŚĂǀĞĂƌŽůĞ͕ǁŝƚŚƚŚĞĞdžĞĐƵƟǀĞ
ƚĞĂŵ͕ŝŶƉƌĞƉĂƌŝŶŐĨŽƌƚƌĂŶƐĨŽƌŵĂƟǀĞƉƌŽĚƵĐƚƐ͕
ƐĞƌǀŝĐĞƐ Žƌ ƉƌŽĐĞƐƐĞƐ͘ Ƶƚ ͞ĚŝƐƌƵƉƟŽŶ͟ ŝƐŶ͛ƚ
ƐƚƌŝĐƚůLJĂďƵƐŝŶĞƐƐĂĐƟǀŝƚLJ͘:ŽĂdžƚĞƌ͕ƐƐŽĐŝĂƚĞ
Partner at Hobson Leavy, Auckland explained
it this way: “To quote Bill Gates, ‘We always
ŽǀĞƌĞƐƟŵĂƚĞ ƚŚĞ ĐŚĂŶŐĞ ƚŚĂƚ ǁŝůů ŽĐĐƵƌ ŝŶ
ƚŚĞ ŶĞdžƚ ƚǁŽ LJĞĂƌƐ ĂŶĚ ƵŶĚĞƌĞƐƟŵĂƚĞ ƚŚĞ
change that will occur in the next ten. Don’t let
LJŽƵƌƐĞůĨďĞůƵůůĞĚŝŶƚŽŝŶĂĐƟŽŶ͛͘^ŚĞƐĂŝĚ͞&Žƌ
example, more and more business leaders in
New Zealand are focusing on climate change
as the number one risk coming down the line.
&ŽƌĞdžĂŵƉůĞ͕ƚŚĞLJĂƌĞƐƚĂƌƟŶŐƚŽƵŶĚĞƌǁĞŝŐŚƚ
ďĂŶŬ ƐƚŽĐŬƐ ŽŶ ƚŚĞŝƌ ƉŽƌƞŽůŝŽƐ ǁŝƚŚ ŚŝŐŚ
ĞdžƉŽƐƵƌĞƚŽƌĞƐŝĚĞŶƟĂůƉƌŽƉĞƌƚLJ͕ĚƵĞƚŽŐůŽďĂů
sea levels rising and the increased frequency
ĂŶĚƐĞǀĞƌŝƚLJŽĨŵĂũŽƌƐƚŽƌŵĞǀĞŶƚƐ͘͟
A major event in Japan, where boards are
ůŝŬĞůLJƚŽďĞƚƌĂĚŝƟŽŶĂůĂŶĚĐŽŵƉƌŝƐĞĚŽĨŝŶƐŝĚĞ
directors, is the Japan Corporate Governance
Code, which in 2015 introduced several major
changes to the way boards of publicly traded
companies in Japan operate. The Code focuses
ŽŶƚŚĞĂƉƉŽŝŶƚŵĞŶƚŽĨĞdžƚĞƌŶĂůŶŽŶͲĞdžĞĐƵƟǀĞ
ĚŝƌĞĐƚŽƌƐ͕ĂŶĚĞǀĂůƵĂƟŶŐďŽĂƌĚĞīĞĐƟǀĞŶĞƐƐ͘
Nobuyuki Tsuji is a member of Spencer
^ƚƵĂƌƚ͛Ɛ ďŽĂƌĚ ƉƌĂĐƟĐĞ͕ ĂŶĚ ůĞĂĚƐ ƚŚĞ Įƌŵ͛Ɛ
Japan business. He explained, “Shareholders
from outside Japan were asking for more
transparent board governance. Based on that,
the Japanese government established the
Corporate Governance Code, which requires
a more transparent way of running the board,
ǁŝƚŚŝŵƉƌŽǀĞĚĐŽŵŵƵŶŝĐĂƟŽŶ͕ŵŽƌĞĞdžƚĞƌŶĂů
board members, and board assessment and
ĞǀĂůƵĂƟŽŶ͘ ^ŚĂƌĞŚŽůĚĞƌƐ ƐƉĞĐŝĮĐĂůůLJ ĂƐŬĞĚ
to have more non-Japanese external board
ŵĞŵďĞƌƐ͘͟
The changes we see on corporate boards
ĂůƐŽ ĂīĞĐƚ ƚŚĞ ŝŶĚŝǀŝĚƵĂů ĚŝƌĞĐƚŽƌƐ͘ ^ƵƐĂŶŶĞ
Thorning-Lund, Board Partner at Odgers
ĞƌŶĚƐƚŽŶ ŝŶ >ŽŶĚŽŶ ƐĂŝĚ͕ ͞EŽŶͲĞdžĞĐƵƟǀĞ
directors are becoming more engaged with
the business. Increasingly you have board
members taking a mentor role with a member
ŽĨƚŚĞĞdžĞĐƵƟǀĞƚĞĂŵ͕ĂŶĚŝŶŐůŽďĂůďƵƐŝŶĞƐƐĞƐ
ŶŽŶͲĞdžĞĐƵƟǀĞƐ ĂƌĞ ĞŶĐŽƵƌĂŐĞĚ ƚŽ ĂƩĞŶĚ
ƌĞŐŝŽŶĂů ĞdžĞĐƵƟǀĞ ďŽĂƌĚƐ͕ ƚŽ ĚĞĞƉĞŶ ƚŚĞŝƌ
ŽŶͲƚŚĞͲŐƌŽƵŶĚ ĂƉƉƌĞĐŝĂƟŽŶ ŽĨ ƚŚĞ ďƵƐŝŶĞƐƐ
and of the leadership talent. In general terms,
Boards are taking a deeper interest in their
businesses; this isn’t just governance box-
ƟĐŬŝŶŐ͕͟ƐŚĞƐĂŝĚ͘
Kevin Jurd, Boards and CEO Succession
WƌĂĐƟĐĞ >ĞĂĚĞƌ ĨŽƌ ƵƐƚƌĂůĂƐŝĂ Ăƚ ^ƉĞŶĐĞƌ
Stuart, addressed a new reality for individual
directors. In the context of “big corporate
collapses where Boards have been held
accountable, it becomes hard for those
ŝƌĞĐƚŽƌƐ ƚŽ ũŽŝŶ ĂŶŽƚŚĞƌ ďŽĂƌĚ ĂŌĞƌ ƚŚĂƚ͘͟
,Ğ ĂĚĚĞĚ͕ ͞WĞƌƐŽŶĂů ƌĞƉƵƚĂƟŽŶĂů ƌŝƐŬ ŝƐ ŶŽǁ
being considered more intensely, especially in
early start-up years for new directors. It can
ĚĞĮŶĞƚŚĞŝƌŶŽŶͲĞdžĞĐƵƟǀĞĚŝƌĞĐƚŽƌĐĂƌĞĞƌ͕ĂŶĚ
ĐƵƚŝƚƐŚŽƌƚƋƵŝĐŬůLJ͘͟
džĞĐƵƟǀĞdĂůĞŶƚͲϮϵ
 The Drivers of
Change
ZĞŐƵůĂƟŽŶ͕ ĚŝƐƌƵƉƟŽŶ͕
social pressure and business
needs are driving much
of the change seen in recent years. “In
Australia, for example, there is market and
stock exchange pressure for transparency
and gender diversity on boards and in
ŵĂŶĂŐĞŵĞŶƚ͕͟ DĂƌŬƐ ƐĂŝĚ͘ dŚŽƌŶŝŶŐͲ>ƵŶĚ
ĂĚĚĞĚ͕ ͞/Ŷ ƚŚĞ h< ƚŚĞƌĞ ŝƐ Ă ůŽƚ ŽĨ ƉŽůŝƟĐĂů
interest in board governance at the moment,
ĐĂƵƐĞĚ ďLJ ĨĂŝůŝŶŐƐ Ăƚ ƐŽŵĞ ŚŝŐŚͲƉƌŽĮůĞ
ĐŽŵƉĂŶŝĞƐ͘ dŚĞƌĞ͛Ɛ ďĞĞŶ Ă ďĂĐŬůĂƐŚ͘ &Žƌ
ĞdžĂŵƉůĞ͕ ƚŚĞ ĐŽŶǀĞƌƐĂƟŽŶ ŶŽǁ ŝƐ ĂďŽƵƚ
ǁŝĚĞƌ ƐƚĂŬĞŚŽůĚĞƌ ƌĞƉƌĞƐĞŶƚĂƟŽŶ ŽŶ
ďŽĂƌĚƐ͘͟
“Regulatory uncertainty and a lot of
ĚŝƐƌƵƉƟŽŶ ĂŶĚ ƚƌĂŶƐĨŽƌŵĂƟŽŶ ĂƌĞ ƌĞĂůůLJ
ĂīĞĐƟŶŐ ĞǀĞƌLJ ŝŶĚƵƐƚƌLJ͕͟ K͛ƌŝĞŶ ƐĂŝĚ͘
͞&Žƌ ĞdžĂŵƉůĞ͕ ǁŚĞŶ ĐůŝĞŶƚƐ ǁĂŶƚ ƚŽ ĂĚĚ
ĚŝŐŝƚĂů ĐŽŵƉĞƚĞŶĐLJ ƚŽ ƚŚĞ ďŽĂƌĚ͕ ŝƚ͛Ɛ ŽŌĞŶ
because their business has been disrupted
and they need to have folks on the board
ǁŚŽĐĂŶƚŚŝŶŬƚŚƌŽƵŐŚƚŚŽƐĞŝƐƐƵĞƐ͘͟DĂƌŬƐ
said, “Boards are under increasing pressure
to deliver results. There is pressure on
boards now for performance—company
dŚĂŶŬLJŽƵƚŽϮϬϭϳ'ůŽďĂůŽŶĨĞƌĞŶĐĞƐƵƉƉŽƌƚĞƌZƵƐƐĞůůZĞLJŶŽůĚƐ
Leading
Insights
performance. Boards have to have a certain
amount of accountability around that, as
ǁĞůů͕ďĞĐĂƵƐĞƚŚĞLJƐĞůĞĐƚƚŚĞK͘͟
Lahey described an example of an
ŽƌŐĂŶŝnjĂƟŽŶ ƵƐŝŶŐ ŝƚƐ ŝŶŇƵĞŶĐĞ ŽŶ ďŽĂƌĚƐ
ƚŽ ĚƌŝǀĞ ƉŽƐŝƟǀĞ ĐŚĂŶŐĞ͘ ^ŚĞ ƐĂŝĚ͕ ͞dŚĞ
ƵƐƚƌĂůŝĂŶ ŽƵŶĐŝů ŽĨ ^ƵƉĞƌĂŶŶƵĂƟŽŶ
Investors recently said it will instruct its
members to vote against the appointment of
ĚŝƌĞĐƚŽƌƐǁŚŽƐŝƚŽŶĂŶĂůůͲŵĂůĞďŽĂƌĚ͘͟^ŚĞ
said, “There is certainly a brighter spotlight
on boards now than in previous years and
this has served to encourage boards to be
ŵŽƌĞ ƚƌĂŶƐƉĂƌĞŶƚ ĂŶĚ ƚŽ ďĞ ŵŽƌĞ ĂƩƵŶĞĚ
to broader community concerns. Culture is a
very important topic for boards, and they are
ĨŽĐƵƐĞĚ ŽŶ ĞŶƐƵƌŝŶŐ ƚŚĂƚ ƚŚĞ ŽƌŐĂŶŝnjĂƟŽŶ
has a culture that is aligned to business
ƐƚƌĂƚĞŐLJ͘͟
In New Zealand, explained Baxter, “It was
announced from October this year every
NZ stock exchange listed company will have
to have a diversity policy (or explain why
not) in their annual reports. Publicly listed
companies will be expected to establish a
ĚŝǀĞƌƐŝƚLJƉŽůŝĐLJǁŝƚŚŵĞĂƐƵƌĂďůĞŽďũĞĐƟǀĞƐ͕
and each year assess their progress against
ƚŚĞƐĞ ŽďũĞĐƟǀĞƐ͘͟ ^ŚĞ ƐĂŝĚ͕ ͞/ƚ͛Ɛ Ă ƉƌĞƩLJ
Meaningful
Relationships
encouraging policy that recommends
companies make their diversity policy and
ŽďũĞĐƟǀĞƐƉƵďůŝĐ͘/ƚ͛ƐŶŽƚƐĂLJŝŶŐLJŽƵŚĂǀĞƚŽ
achieve a certain level, but rather that you
ŵƵƐƚŵĞĂƐƵƌĞĂŶĚƌĞƉŽƌƚŽŶǁŚĂƚLJŽƵŚĂǀĞ͘͟
Board Tenure and
Succession:
According to Spencer
Stuart’s 2016 Board Index,
“Nearly half of board
members believe length of tenure does not
ĂīĞĐƚ ďŽĂƌĚ ĂƵƚŽŶŽŵLJ͘͟ tŚŝĐŚ ŝƐ ƚĞůůŝŶŐ͕
since board tenures in the US, at least, are
ŐĞƫŶŐůŽŶŐĞƌ͕ŶŽƚƐŚŽƌƚĞƌ͘
ĂƵŵƐĂŝĚ͕͞h^ŽĂƌĚƐŚĂǀĞďĞĞŶŐĞƫŶŐ
longer and longer tenured, and people are
ĐŽŐŶŝnjĂŶƚ ƚŚĂƚ ŶŽƚ ĞǀĞƌLJďŽĚLJ ĂŐĞƐ ƚŽ ϳϱ
the same, and not everybody’s experience
ĂŐĞƐ ƚŚĞ ƐĂŵĞ ǁĂLJ͕ ĞŝƚŚĞƌ͘͟ ^ŚĞ ƐĂŝĚ͕ ͞
lot of industries are changing very quickly,
so if you were involved in that industry 20
years ago, some of what you know may be
relevant but a lot of it may not be. A big
part of the desire to have turnover is to
make sure you have relevant and current
ĞdžƉĞƌŝĞŶĐĞ͘͟
Collaborative
Culture

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Find out more at www.russellreynolds.com
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 Burgess sees the same trend. “The average
ƌĞƟƌĞŵĞŶƚ ĂŐĞ ŝƐ ŵŽǀŝŶŐ ƵƉ ʹ ϳϱ ŝƐ ƚŚĞ ŶĞǁ
ϳϮ͘ /ƚ͛Ɛ ĨƵŶŶLJ ƚŚĂƚ͛Ɛ ŚĂƉƉĞŶŝŶŐ͕ ǁŚĞŶ ƚŚĞƌĞ͛Ɛ
been an outcry for refreshment on boards. The
ĂǀĞƌĂŐĞ ďŽĂƌĚ ƚĞŶƵƌĞ ĐŽŶƟŶƵĞƐ ƚŽ ůĞŶŐƚŚĞŶ
ĂŶĚ ŝŶĐƌĞĂƐŝŶŐ ƚŚĞ ƌĞƟƌĞŵĞŶƚ ĂŐĞ ŽŶůLJ ŚĞůƉƐ
ƌĞŝŶĨŽƌĐĞ ƚŚŝƐ ƚƌĞŶĚ͘͟ ĐŬŶŽǁůĞĚŐŝŶŐ ƚŚĂƚ
some board directors may have outdated
skills, Burgess looks at board tenure another
way. “There are also people who’ve been on
Ă ďŽĂƌĚ ĨŽƌ Ă ůŽŶŐ ƟŵĞ ĂŶĚ ĐŽŶƟŶƵĞ ƚŽ ďĞ
ŐƌĞĂƚ ĐŽŶƚƌŝďƵƚŽƌƐ ĂŶĚ ƉŽƐƐĞƐƐ ƐƵďƐƚĂŶƟǀĞ
ŝŶƐƟƚƵƟŽŶĂůŵĞŵŽƌLJ͘zŽƵĐĂŶ͛ƚƌĞůLJŽŶůĞŶŐƚŚŽĨ
service and you can’t rely on age to determine
ǁŚĞŶ ŝƚ ŝƐ ƟŵĞ ĨŽƌ Ă ĚŝƌĞĐƚŽƌ ƚŽ ƐƚĞƉ ĚŽǁŶ͘
What you should rely on is their performance
ĂŶĚĂďŝůŝƚLJƚŽĐŽŶƚƌŝďƵƚĞ͘͟
Sounds reasonable. “If you’re not doing well,
ŝƚŵĂLJďĞƟŵĞƚŽŵŽǀĞŽŶ͕͟DĂƌŬƐƐƵŐŐĞƐƚĞĚ͘
dŚĞŶĂŐĂŝŶ͕͞KŶĞŽĨƚŚĞŵŽƌĞĚŝĸĐƵůƚĚĞĐŝƐŝŽŶƐ
for a group to make, even for people who make
ĚŝĸĐƵůƚĚĞĐŝƐŝŽŶƐƚŚĞŝƌĞŶƟƌĞĐĂƌĞĞƌƐ͕ŽŌĞŶ͕ŝƐ
saying goodbye to a director who is not working
ŽƵƚ͘/ƚŝƐŵŽƌĞƵƐƵĂůůLJĚŽŶĞĂƌŽƵŶĚƚŚĞƟŵĞŽĨ
ƌĞͲĞůĞĐƟŽŶ͕͟ŚĞƐĂŝĚ͘
ZŽƚĂƟŶŐ ŽƵƚ ůŽŶŐͲƐĞƌǀŝŶŐ ďŽĂƌĚ ŵĞŵďĞƌƐ
can be harder in regions without a deep bench
of board talent. Speaking of New Zealand,
Baxter said, “We’re a small country, so there’s
your top pocket of directors who are at the
biggest publicly traded companies and tend to
ďĞ ǁĞůů ƐŽƵŐŚƚͲĂŌĞƌ͘ dŚĞŶ ƚŚĞƌĞ͛Ɛ ƚŚĞ ŵŝĚĚůĞ
ŐƌŽƵŶĚ͕ ƚŚĞ ŽŶĞƐ ŽŶ ƐŵĂůůĞƌ ŽƌŐĂŶŝnjĂƟŽŶƐ͛
boards. You probably have this everywhere—
the well sought out directors are extremely
busy, and they’re not necessarily the ones
LJŽƵǁĂŶƚŵŽǀŝŶŐŽīƚŚĞƐĞĂƚƐ͘/ƚĐĞƌƚĂŝŶůLJŝƐĂ
ĐŚĂůůĞŶŐĞ͘͟
Another challenge Baxter highlights is that
ƚŚĞ ƐůŽǁ ƉĂĐĞ ŽĨ ďŽĂƌĚ ƌĞƟƌĞŵĞŶƚ ŝƐ ůŝŵŝƟŶŐ
ƚŚĞ ŽƉƉŽƌƚƵŶŝƟĞƐ ĨŽƌ ďŽĂƌĚ ĚŝǀĞƌƐŝĮĐĂƟŽŶ͘
͞dŚĞƌĞ͛Ɛ Ă ǀŝĞǁ ƚŚĂƚ ƚŚĞƌĞ ŝƐ Ă ƉƌŽƉŽƌƟŽŶ ŽĨ
senior directors who aren’t moving on—the
seats aren’t being made available for the
ĚŝǀĞƌƐŝƚLJƚŽŽĐĐƵƌ͘dŚĞƌĞ͛ƐĂĚĞŐƌĞĞŽĨĨƌƵƐƚƌĂƟŽŶ
ĂƌŽƵŶĚ ƚŚĂƚ͘͟ ^ŚĞ ƐĂŝĚ͕ ͞dŚĞ ĨŽƌǁĂƌĚͲƚŚŝŶŬŝŶŐ
ďŽĂƌĚƐ ƐĞĞŵ ƚŽ ďĞ ƐƚƌŽŶŐĞƌ Ăƚ ƌŽƚĂƟŶŐ ƚŚĞŝƌ
directors. In our experience, the governance
capability exists, and increasingly experienced
ĞdžĞĐƵƟǀĞƐ ĂƌĞ ďĞŝŶŐ ŐŝǀĞŶ ƚŚĞ ŽƉƉŽƌƚƵŶŝƚLJ ƚŽ
ƐƚĞƉŝŶƚŽƉƌŽĨĞƐƐŝŽŶĂůŐŽǀĞƌŶĂŶĐĞĐĂƌĞĞƌƐ͘͟
In the UK, the accepted corporate governance
ďĞƐƚ ƉƌĂĐƟĐĞ ůŝŵŝƚƐ ĞdžĞĐƵƟǀĞ ƚĞŶƵƌĞ ƚŽ ƚŚƌĞĞ
terms of three years each: “The nine-year
ƌƵůĞ͟ ĂĐĐŽƌĚŝŶŐ ƚŽ dŚŽƌŶŝŶŐͲ>ƵŶĚ͘ ͞tŚĂƚ ǁĞ
ĂƌĞ ƐĞĞŝŶŐ ĂƌĞ ďŽĂƌĚƐ ŵƵĐŚ ŵŽƌĞ ƉƌŽĂĐƟǀĞůLJ
engaged around succession planning for board
ŵĞŵďĞƌƐ͕ ĂŶĂůLJnjŝŶŐ ďŽĂƌĚ ĐŽŵƉŽƐŝƟŽŶ ǁŝƚŚ
a view to where the business is going, and
therefore the skills they may wish to bring onto
ƚŚĞďŽĂƌĚ͘dŚŝƐŝƐĂůƐŽƌĞŇĞĐƚĞĚŝŶƚŚĞďƌŽĂĚĞƌ
diversity discussion. If succession is thought
ĂďŽƵƚ ŝŶ ƐƵĐŚ Ă ƉƌŽĂĐƟǀĞ ǁĂLJ ŝƚ ƌĂŝƐĞƐ ƚŚĞ
ƋƵĞƐƟŽŶƐŽĨǁŚĞƌĞĞůƐĞĐŽƵůĚǁĞŐŽ͕ǁŚĂƚĞůƐĞ
ĐŽƵůĚ ǁĞ ŐĞƚ͕ ĂŶĚ ǁŚĂƚ ĞdžĂĐƚůLJ ĚŽ ǁĞ ǁĂŶƚ͍
dŚŽƐĞƚǁŽƚŚŝŶŐƐĚŽĨĞĞĚƋƵŝƚĞŶŝĐĞůLJŽīĞĂĐŚ
ŽƚŚĞƌ͘͟
dŚĞƌĞ ŝƐ ĂŶ ŽƵƚƐƚĂŶĚŝŶŐ ƋƵĞƐƟŽŶ ĂƐ ƚŽ
whether Next Gen board members will be
interested in the long-term service preferred
by their predecessors. Jurd observes, “Some
ĚŝŐŝƚĂůƐĂǀǀLJ͕͞ŶĞǁĂŐĞ͟ĚŝƌĞĐƚŽƌƐǁŝƚŚƐƚĂƌƚƵƉ
ĞdžƉĞƌŝĞŶĐĞǁŝůůŶŽƚďĞŝŶƚĞƌĞƐƚĞĚŝŶĐŽŵŵŝƫŶŐ
ƚŽ Ă ϲͲϵ LJĞĂƌ ƚĞƌŵ͕ ƐŽ ǁĞ ŵĂLJ ƐĞĞ ŐƌĞĂƚĞƌ
ƌŽƚĂƟŽŶŽŶďŽĂƌĚƐ͘͟
Governance and
Board Committees:
'ŽǀĞƌŶŵĞŶƚƌĞŐƵůĂƟŽŶƐĂŶĚ
stock exchange rule changes,
primarily the result of the
ŐůŽďĂů ĮŶĂŶĐŝĂů ĐƌŝƐŝƐ͕ ŽƚŚĞƌ ƉĞƌĐĞŝǀĞĚ ƌŝƐŬƐ͕
ĂŶĚŝŶǀĞƐƚŽƌƉƌĞƐƐƵƌĞ͕ĂƌĞŚĂǀŝŶŐĂƐŝŐŶŝĮĐĂŶƚ
impact on board governance, globally.
Debate swirls around the issue of board
ŝŶĚĞƉĞŶĚĞŶĐĞ͘&ŽƌĞdžĂŵƉůĞ͕ǁŚĞƚŚĞƌƚŚĞK
and Chairman roles should be separated, and
whether board chairs need to be independent.
In some regions boards have few, if any outside
directors, and in others, boards are mostly
ĐŽŵƉƌŝƐĞĚŽĨŶŽŶͲĞdžĞĐƵƟǀĞĚŝƌĞĐƚŽƌƐ͘
Japan is a key example of how investors seek to
ŵĂŬĞƐŝŐŶŝĮĐĂŶƚĐŚĂŶŐĞƐƚŽďŽĂƌĚŐŽǀĞƌŶĂŶĐĞ͘
Tsuji explained, “Shareholders from outside
Japan were asking for a more transparent
board, and more transparent governance.
Based on that, the Japanese government
established the Corporate Governance Code,
which requires a more transparent way of
ƌƵŶŶŝŶŐƚŚĞďŽĂƌĚ͕ǁŝƚŚŵŽƌĞĐŽŵŵƵŶŝĐĂƟŽŶ͕
and external board members. Shareholders
asked to have more non-Japanese external
ďŽĂƌĚ ŵĞŵďĞƌƐ ƚŽ ƌĞƉƌĞƐĞŶƚ ƚŚĞŝƌ ŝŶƚĞƌĞƐƚƐ͘͟
The Code also encourages gender diversity on
the boards of publicly traded companies.
ZĞůĂƟǀĞůLJŶĞǁůĂǁƐĞdžƉŽƐĞĐŽƌƉŽƌĂƚĞďŽĂƌĚƐ
ŝŶ ƵƐƚƌĂůŝĂ ƚŽ ƐŝŐŶŝĮĐĂŶƚ ŝŶǀĞƐƚŽƌ ŝŶŇƵĞŶĐĞ͘
According to the &ŝŶĂŶĐŝĂů dŝŵĞƐ, the ‘Two
^ƚƌŝŬĞ͛ƌƵůĞƌĞĨĞƌƐƚŽĂϮϬϭϭůĂǁƐƚĂƟŶŐ͞ŝĨŵŽƌĞ
than a quarter of shareholder votes are cast
ĂŐĂŝŶƐƚ Ă ĐŽŵƉĂŶLJ͛Ɛ ƌĞŵƵŶĞƌĂƟŽŶ ƌĞƉŽƌƚ ĨŽƌ
two years in a row, it triggers a further vote –
on a straight majority—requiring all directors
ƚŽĨĂĐĞƌĞĞůĞĐƟŽŶ͘͟:ƵƌĚƐĂLJƐ͞dŚĞ͚dǁŽ^ƚƌŝŬĞƐ͛
ƌƵůĞ ŽŶ ƌĞŵƵŶĞƌĂƟŽŶ ŝƐ ďĞĐŽŵŝŶŐ ƚŚĞ ƚŽƵĐŚͲ
ƉŽŝŶƚĨŽƌĂĐƟǀŝƐƚƐƚŽƵƐĞƚŽƐĞĞŬƐŽŵĞƐŽƌƚŽĨ
ĐŚĂŶŐĞƚŽĂďŽĂƌĚ͘͟
džĞĐƵƟǀĞdĂůĞŶƚͲϯϭ
 dŚŝƐ ůĞǀĞů ŽĨ ŝŶǀĞƐƚŽƌ ŝŶŇƵĞŶĐĞ ŝƐ
ĐŽŵƉůŝĐĂƚĞĚ͘ ͞zŽƵ ŚĂǀĞ ĂĐƟǀŝƐƚ ŝŶǀĞƐƚŽƌƐ
ĂŶĚ ƚŚĞŝƌ ŝŶƐƟƚƵƟŽŶĂů ŝŶǀĞƐƚŽƌ ƐƵƉƉŽƌƚĞƌƐ
holding directors increasingly accountable
and requiring directors to dedicate more
ƟŵĞ ĂŶĚ ĞīŽƌƚ ŝŶƚŽ ĂĚĚƌĞƐƐŝŶŐ ĂĐƟǀŝƐƚƐ͛
ŵLJƌŝĂĚĚĞŵĂŶĚƐ͘^ŽŵĞĂĐƟǀŝƐƚƐŚĂǀĞŐŽŽĚ
ŝŶƚĞŶƟŽŶƐĂŶĚƐŽŵĞĚŽŶ͛ƚʹƐŽŵĞǁĂŶƚƚŽ
ƚĂŬĞĂĚǀĂŶƚĂŐĞŽĨƐŝƚƵĂƟŽŶƐ͘^ŽŵĞĂĐƟǀŝƐƚƐ
are short-term oriented and others are
ůŽŶŐͲƚĞƌŵ ŽƌŝĞŶƚĞĚ͘͟ ƵƌŐĞƐƐ ĞdžƉůĂŝŶĞĚ͗
͞dŚĞ ĂĐƟǀŝƐƚ ŵŽǀĞŵĞŶƚ ŝƐ ŶŽƚ Ă ĨĂĚ͘ /ƚ ŝƐ
ŚĞƌĞƚŽƐƚĂLJĂŶĚǁŝůůĐŽŶƟŶƵĞƚŽŐƌŽǁĂŶĚ
ŝŵƉĂĐƚŵŽƌĞĂŶĚŵŽƌĞĐŽŵƉĂŶŝĞƐ͘͟
/Ŷ ĂĚĚŝƟŽŶ͕ ŝŶ ƐĞǀĞƌĂů ĐŽƵŶƚƌŝĞƐ ŵŽƌĞ
corporate boards are addressing uniquely
21st century challenges through their
ĐŽŵŵŝƩĞĞƐƚƌƵĐƚƵƌĞ͘
In Marks’ experience, “I don’t see a
ƉĂƌƟĐƵůĂƌĐŚĂŶŐĞĂƌŽƵŶĚĐŽƌĞĐŽŵŵŝƩĞĞƐ͕
but I do see them being more rigorous
ĂŶĚ ĞīĞĐƟǀĞ ŝŶ ǁŚĂƚ ƚŚĞLJ ĚŽ͕ ĂŶĚ ŵŽƌĞ
accountable. The skills that are required to
ĐŚĂŝƌƚŚĞŵĂƌĞŝŶĐƌĞĂƐŝŶŐůLJĐŽŵƉůĞdž͘͟
However, the nature of risk is evolving.
ĂƵŵ ĞdžƉůĂŝŶĞĚ͕ ͞&ŝŶĂŶĐŝĂů ƐĞƌǀŝĐĞ ďŽĂƌĚƐ
ŚĂǀĞ ĂĚĚĞĚ ƌŝƐŬ ĐŽŵŵŝƩĞĞƐ͕ ĂŶĚ ƐŽŵĞ
are adding technology. Cyber security is
something boards are dealing with, but we
ĚŽŶ͛ƚĮŶĚĂůŽƚŽĨďŽĂƌĚƐůŽŽŬŝŶŐƐƉĞĐŝĮĐĂůůLJ
for an expert in this area to serve on the
ďŽĂƌĚŽƌŽŶĐLJďĞƌĐŽŵŵŝƩĞĞƐ͘͟
Burgess agreed. “We are seeing risk
ĐŽŵŵŝƩĞĞƐ͕ŽŶĐĞŽŶůLJƚŚĞďĂƐƟŽŶŽĨďĂŶŬƐ
ĂŶĚ ĮŶĂŶĐŝĂů ƐĞƌǀŝĐĞƐ ĐŽŵƉĂŶŝĞƐ͕ ƉŽƉƉŝŶŐ
ƵƉŵŽƌĞŽŌĞŶŽƵƚƐŝĚĞĮŶĂŶĐŝĂůƐĞƌǀŝĐĞƐ͘͟,Ğ
said, “Cyber risk oversight on average falls
ƵŶĚĞƌƚŚĞƵŵďƌĞůůĂŽĨƚŚĞĂƵĚŝƚĐŽŵŵŝƩĞĞ͘
^ƚĂŶĚͲĂůŽŶĞ ƌŝƐŬ ĐŽŵŵŝƩĞĞƐ ǁŝůů ďĞĐŽŵĞ
the norm as the oversight of risks such as
cyber risk cannot be the responsibility of
ƚŚĞĂƵĚŝƚĐŽŵŵŝƩĞĞ͕ǁŚŝĐŚĂůƌĞĂĚLJŚĂƐŝƚƐ
ŚĂŶĚƐĨƵůůǁŝƚŚŝƚƐĞdžŝƐƟŶŐŵĂŶĚĂƚĞƐ͘͟
ĐĐŽƌĚŝŶŐ ƚŽ ƚŚĞ ϮϬϭϳ ^ƉĞŶĐĞƌ ^ƚƵĂƌƚ
Board Survey, “20% of respondents
ƌĞƉŽƌƚĞĚ ŚĂǀŝŶŐ Ă ĐŽŵŵŝƩĞĞ ĚĞĚŝĐĂƚĞĚ
ƚŽ ƉƌŽǀŝĚŝŶŐ ŽǀĞƌƐŝŐŚƚ ŽĨ ĐLJďĞƌͬ/Žƚ ƌŝƐŬ͕
and nearly half (45%) said they rely on
ƚŚĞŝƌƌŝƐŬŽƌĂƵĚŝƚĐŽŵŵŝƩĞĞ͛ƐĞdžƉĞƌƟƐĞŝŶ
ƚŚŝƐ ŵĂƩĞƌ͘ dŚĞ ƌĞŵĂŝŶŝŶŐ ϯϱй ĐŚŽŽƐĞ ƚŽ
discuss and analyze cyber risk at the full-
ďŽĂƌĚůĞǀĞů͘͟
Lahey said, “We are seeing boards
evolving in line with changes to the
business and community environments.
&ŽƌĞdžĂŵƉůĞ͕ǁĞĂƌĞƐĞĞŝŶŐŵŽƌĞĚĞŵĂŶĚ
ĨŽƌ ĚŝƌĞĐƚŽƌƐ ǁŝƚŚ ƚĞĐŚŶŽůŽŐLJ ĞdžƉĞƌƟƐĞ ŝŶ
ƵƐƚƌĂůŝĂ͘͟ ^ŚĞ ĂĚĚĞĚ͕ ͞ŽĂƌĚ ŐŽǀĞƌŶĂŶĐĞ
has changed in step with the changes in
ďƵƐŝŶĞƐƐ ƐƉĞĐŝĮĐĂůůLJ͕ ĂŶĚ ƐŽĐŝĞƚLJ Ăƚ ůĂƌŐĞ͘͟
She said, for example, “Ten years ago all
ďŽĂƌĚƐŚĂĚĂƵĚŝƚĐŽŵŵŝƩĞĞƐďƵƚŶŽǁŵĂŶLJ
ŚĂǀĞ Ă ƐĞƉĂƌĂƚĞ ƌĞŵƵŶĞƌĂƟŽŶ ĐŽŵŵŝƩĞĞ͕
Ă ƌŝƐŬ ĐŽŵŵŝƩĞĞ ĂŶĚ Ă ƐƵƐƚĂŝŶĂďŝůŝƚLJ
ĐŽŵŵŝƩĞĞ͘  tŝƚŚ ŐƌĞĂƚĞƌ ƚƌĂŶƐƉĂƌĞŶĐLJ͕
there is heightened accountability—boards
ĂƌĞ ĐĞƌƚĂŝŶůLJ ĂƩƵŶĞĚ ƚŽ ƌĞƉƵƚĂƟŽŶĂů ĂŶĚ
ĐƵůƚƵƌĞƌŝƐŬ͘͟
Baxter observed, “There’s a view that
boards need to recognize the broader part
ƚŚĂƚ ƚŚĞŝƌ ŽƌŐĂŶŝnjĂƟŽŶƐ ƉůĂLJ ŝŶ ƐŽĐŝĞƚLJͶĂ
much more integrated model that puts
people at the center. It’s really about broader
trust. We’re seeing boards taking their
corporate social responsibility extremely
seriously, and taking a wide, broad view of
ƚŚĞŝƌĂŶĚƚŚĞŽƌŐĂŶŝnjĂƟŽŶ͛ƐƌŽůĞŝŶƐŽĐŝĞƚLJ͘͟
The impact of these changes could
ďĞ ŝŵŵĞŶƐĞůLJ ƉŽƐŝƟǀĞ͘ K͛ƌŝĞŶ ƐĂŝĚ͕
“Businesses that are successful are
constantly having to rethink their business
model or at least check that their business
ŵŽĚĞů ŝƐ ƌŝŐŚƚ͘ / ǁŽƵůĚ ĂŶƟĐŝƉĂƚĞ ƚŚĂƚ
the board will have a much bigger role
in engaging with management around
strategy. It will be less of an arms-length
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 Burgess added, “If you do it right you have
a governance body, that’s a given, but you
also have a group of value added, strategic
discussion partners—a valuable resource and
ƐŽƵŶĚŝŶŐďŽĂƌĚĨŽƌŵĂŶĂŐĞŵĞŶƚ͘͟
About board
composition,
representation and
inclusion.
^ŵĞŵďĞƌƐǀĂůƵĞĚŝǀĞƌƐĞůĞĂĚĞƌƐŚŝƉ͘
dŚĞLJŝĚĞŶƟĨLJƚŚĞŵŽƐƚƋƵĂůŝĮĞĚƚĂůĞŶƚďLJ
ƐĞĂƌĐŚŝŶŐĂŶĚĂƐƐĞƐƐŝŶŐǁŝƚŚŽƵƚďŝĂƐ͘
^ŽĚĞŽĨWƌŽĨĞƐƐŝŽŶĂůWƌĂĐƟĐĞ
What does good corporate governance
look like, amid the uncertainty created by the
ĞĐŽŶŽŵŝĐ ƐůŽǁĚŽǁŶ ŝŶ ŚŝŶĂ͕ ƉŽůŝƟĐĂů ĞǀĞŶƚƐ
in the US and Europe, and the humanitarian
and environmental crises we see around
ƵƐ͍ DĂŶLJ ǁŽƵůĚ ĂƌŐƵĞ ƚŚĂƚ ŐŽŽĚ ďŽĂƌĚƐ
look sharp. They have a breadth of skills and
experience to draw upon and the ability to
ĂĚĂƉƚ͕ ƚŽ ƐĞĞ ŽƉƉŽƌƚƵŶŝƟĞƐ͕ ĂŶĚ ƚŽ ŵĂŬĞ
ĚĞĐŝƐŝŽŶƐĨƌŽŵĂďƌŽĂĚƌĂŶŐĞŽĨƉĞƌƐƉĞĐƟǀĞƐ͘
AESC’s ŽĂƌĚ ^ĞĂƌĐŚ ĂŶĚ ĚǀŝƐŽƌLJ 'ƵŝĚŝŶŐ
WƌŝŶĐŝƉůĞƐ states, “We, as a profession, believe
ƚŚĂƚĚŝǀĞƌƐĞďŽĂƌĚƐĂƌĞďĞƩĞƌďŽĂƌĚƐĂŶĚƚŚĂƚ
diversity enhances business results and drives
ŝŶŶŽǀĂƟŽŶ͘tĞĂƌĞĂŶĚǁŝůůĐŽŶƟŶƵĞƚŽďĞƉĂƌƚ
ŽĨ Ă ďƌŽĂĚĞƌ ƐŽůƵƟŽŶ ƚŽ ĞŶŚĂŶĐĞ ĚŝǀĞƌƐŝƚLJ ŽĨ
ďŽĂƌĚĂŶĚďƵƐŝŶĞƐƐůĞĂĚĞƌƐŚŝƉ͘͟
High-performing boards know that diversity
ŝƐ Ă ďƵƐŝŶĞƐƐ ŝŵƉĞƌĂƟǀĞ͘ K͛ƌŝĞŶ ĐŝƚĞĚ ƐŽŵĞ
simple facts about the impact of women on
ďŽĂƌĚƐ͗ ͞dŚĞ ĞīĞĐƟǀĞŶĞƐƐ ŽĨ ďŽĂƌĚƐ ŐƌĞĂƚůLJ
improved where there was greater gender
diversity. Women serving on boards tended to
be extremely well-prepared, showed a lot of EQ
ŝŶ ƚŚĞ ďŽĂƌĚƌŽŽŵ͕ ĂŶĚ ĞīĞĐƟǀĞůLJ ĂůƚĞƌĞĚ ƚŚĞ
ĚLJŶĂŵŝĐŝŶĂǀĞƌLJƉŽƐŝƟǀĞǁĂLJ͘^ŽŝŶƐƟƚƵƟŽŶĂů
investors are pressing the case for gender
ĚŝǀĞƌƐŝƚLJ͘͟K͛ƌŝĞŶ͛ƐĐůŝĞŶƚƐĐĞƌƚĂŝŶůLJĂƌĞ͘͞dŚĞƌĞ
is not one board that we are working with,
ǁŚĞƌĞĚŝǀĞƌƐŝƚLJŝƐŶŽƚĂŵĂũŽƌŐŽĂů͘͟
“The diversity debate in the UK has been
ƉƌĞƩLJƐƚƌŽŶŐŽǀĞƌƚŚĞůĂƐƚϱͲϲLJĞĂƌƐ͕͟ĂĐĐŽƌĚŝŶŐ
ƚŽ dŚŽƌŶŝŶŐͲ>ƵŶĚ͕ ͞ƐƚĂƌƟŶŐ ǁŝƚŚ ŐĞŶĚĞƌ
diversity and moving inevitably on to much
broader diversity – what we at Odgers would
ĐĂůůĐŽŐŶŝƟǀĞĚŝǀĞƌƐŝƚLJ͘͟
She said, “Absolutely boards are keen to bring
ŝŶĂďƌŽĂĚĞƌƉĞƌƐƉĞĐƟǀĞ͘/ŶĂǀĞƌLJĨĂƐƚĐŚĂŶŐŝŶŐ
and rapidly evolving world, boards are trying
to keep pace with what is going on. Having
ďƌĞĂĚƚŚŽĨĚŝǀĞƌƐŝƚLJŽĨƉĞƌƐƉĞĐƟǀĞŝƐƉĞƌĐĞŝǀĞĚ͕
ƌŝŐŚƚůLJƐŽ͕ĂƐǀĞƌLJŝŵƉŽƌƚĂŶƚ͘͟
zĞƚŝŶŵĂŶLJĐĂƐĞƐďŽĂƌĚĚŝǀĞƌƐŝƚLJŝƐƐƟůůŵŽƌĞ
ĂƐƉŝƌĂƟŽŶĂů ƚŚĂŶ ƌĞĂů͘ /Ŷ ŚĞƌ ŬĞLJŶŽƚĞ ĂĚĚƌĞƐƐ
at the Corporate Governance Network Annual
ŽŶĨĞƌĞŶĐĞ ŝŶ :ƵŶĞ ϮϬϭϲ͕ h^ ^ĞĐƵƌŝƟĞƐ ĂŶĚ
Exchange Commission Chair Mary Jo White
said, “Minority directors on the boards of top
200 companies on the S&P 500 have stagnated
ĂƚϭϱйŝŶƚŚĞůĂƐƚƐĞǀĞƌĂůLJĞĂƌƐ͘͟^ŚĞĂůƐŽƐĂŝĚŽĨ
the pace at which women are joining boards, “At
the current rate of growth, the [US Government
ĐĐŽƵŶƚĂďŝůŝƚLJ KĸĐĞ΁ ĞƐƟŵĂƚĞĚ ŝƚ ĐŽƵůĚ ƚĂŬĞ
ŵŽƌĞƚŚĂŶϰϬLJĞĂƌƐĨŽƌǁŽŵĞŶ͛ƐƌĞƉƌĞƐĞŶƚĂƟŽŶ
ŽŶďŽĂƌĚƐƚŽďĞŽŶƉĂƌǁŝƚŚŵĞŶ͛Ɛ͘͟
In the US, boards are coming under increasing
pressure to improve their gender diversity. As
Daum explained, “Part of the pressure is from
ŝŶƐƟƚƵƟŽŶĂů ƐŚĂƌĞŚŽůĚĞƌƐ ǁŚŽ ĂƌĞ ĨƌƵƐƚƌĂƚĞĚ
by the slow pace of change in the boardroom,
even though the evidence points to the fact
ƚŚĂƚ ĚŝǀĞƌƐĞ ďŽĂƌĚƐ ƉĞƌĨŽƌŵ ďĞƩĞƌ͘  dŚĞƌĞ
is pressure from the shareholders to show
change, to show they are thinking about board
ĐŽŵƉŽƐŝƟŽŶ͕ĂŶĚƐŚŽǁƚŚĂƚƚŚĞLJŚĂǀĞƚŚĞƌŝŐŚƚ
people in the room. Shareholders are saying,
‘These people represent us, and we want the
ďĞƐƚƉĞŽƉůĞůŽŽŬŝŶŐŽƵƚĨŽƌŽƵƌŝŶƚĞƌĞƐƚƐ͛͘͟
Thorning-Lund said, “In the UK there is more
ŽĨĂĨŽĐƵƐŽŶĚĞǀĞůŽƉŝŶŐĨƵƚƵƌĞƉŽƚĞŶƟĂůďŽĂƌĚ
ŵĞŵďĞƌƐ͕ ƚŚĞ ƉŝƉĞůŝŶĞ͕ ƉĂƌƟĐƵůĂƌůLJ ǁŝƚŚ ƚŚĞ
ƉŽůŝƟĐĂů ŝŶƚĞƌĞƐƚ ŝŶ ƚŚŝƐ ƐƵďũĞĐƚ͘͟ ZĞĨĞƌĞŶĐŝŶŐ
the Hampton-Alexander Review, a government
ĞīŽƌƚ ƚŽ ŝŵƉƌŽǀĞ ƌĞƉƌĞƐĞŶƚĂƟŽŶ ŽĨ ǁŽŵĞŶ
ŽŶ&d^ϯϱϬďŽĂƌĚƐĂŶĚĂŵŽŶŐƐƚƚŚĞͲƐƵŝƚĞ͕
ƐŚĞƐĂŝĚ͕͞/ƚŝƐĂůůĂďŽƵƚƚŚĞŶĞdžƚŐĞŶĞƌĂƟŽŶŽĨ
leaders coming through. The big emphasis has
been on gender diversity, and is expanding into
ƌĂĐĞĂŶĚĞƚŚŶŝĐŝƚLJ͘͟
In New Zealand, 40% of listed companies
already have 25% or more female
ƌĞƉƌĞƐĞŶƚĂƟŽŶĂƚƚŚĞďŽĂƌĚůĞǀĞů͘ĂdžƚĞƌƐĂŝĚ͕
“In our State sector boards, they’ve reached an
ĂůůͲƟŵĞŚŝŐŚŽĨϰϱ͘ϯйŽĨǁŽŵĞŶƉĂƌƟĐŝƉĂƟŽŶ͘
It’s very encouraging that the index has come
out to drive change and encourage diversity and
inclusion. And part of this is this new diversity
framework: if you can measure something, you
ŐĞƚĂŚĞĂĚ͘͟
&ŝŶĚŝŶŐ ĨĞŵĂůĞ ĞdžĞĐƵƟǀĞƐ ƚŽ ďĞĐŽŵĞ
board members in Japan is more challenging,
according to Tsuji. “Not enough women rise
ƵƉ ƚŚƌŽƵŐŚ ĐŽŵƉĂŶŝĞƐ͟ ƚŽ ŐĂŝŶ ƚŚĞ ďƵƐŝŶĞƐƐ
experience needed to serve on a board of
directors. He added, “Only 4.5% of directors in
the Nikkei 225 are female, and many of them
ĂƌĞůĂǁLJĞƌƐ͘͟;^ŽƵƌĐĞ͗ϮϬϭϲ:ĂƉĂŶŽĂƌĚ/ŶĚĞdžͿ
tŝƚŚ ǀĞƌLJ ĨĞǁ ĨĞŵĂůĞ ĞdžĞĐƵƟǀĞƐ ƚŽ ĚƌĂǁ
from, improving gender diversity on boards
is a challenge. Tsuji explained, “In Japan there
ŝƐ Ă ƐŚŽƌƚĂŐĞ ŽĨ ƐƵƉƉŽƌƟŶŐ ŝŶĨƌĂƐƚƌƵĐƚƵƌĞ ĨŽƌ
džĞĐƵƟǀĞdĂůĞŶƚͲϯϯ
 ĨĞŵĂůĞĞdžĞĐƵƟǀĞƐ͕ƐƵĐŚĂƐŶƵƌƐĞƌLJƐĐŚŽŽůƐĂŶĚ
kindergartens, which makes it hard for a mother
ƚŽĐŽŶƟŶƵĞǁŽƌŬŝŶŐŝĨƐŚĞŚĂƐĐŚŝůĚƌĞŶ͘͟,ĞƐĂŝĚ
ƐŽŵĞ ĐŽŵƉĂŶŝĞƐ ĂƌĞ ƐƚĂƌƟŶŐ ƚŽ ĂĚĚƌĞƐƐ ƚŚĞ
environmental barriers to women advancing
in the workplace. “Some companies are
working hard to increase the number of female
ĞdžĞĐƵƟǀĞƐ͘ dŚĞLJ ĂƌĞ ĞƐƚĂďůŝƐŚŝŶŐ ŶƵƌƐĞƌŝĞƐ
ŝŶƐŝĚĞ ƚŚĞ ĐŽŵƉĂŶLJ͕ ƐŽ ŵŽƚŚĞƌƐ ĐĂŶ ĐŽŶƟŶƵĞ
ǁŽƌŬŝŶŐ͘͟
He added, “The companies who do that will
ĞǀĞŶƚƵĂůůLJŚĂǀĞŵŽƌĞĨĞŵĂůĞĞdžĞĐƵƟǀĞƐ͘͟
/Ŷ K͛ƌŝĞŶ͛Ɛ ƉƌĂĐƟĐĞ͕ ͞tĞ ĂƌĞ ĂůƐŽ ƐĞĞŝŶŐ Ă
demand for digital capability – people who can
think in terms of how their businesses are being
transformed by digital technology. It’s about
ƐŽŵĞŽŶĞǁŚŽĐĂŶĂƐŬƚŚĞƌŝŐŚƚƋƵĞƐƟŽŶƐ͕ĂŶĚ
ŵĂŬĞƚŚĞƌŝŐŚƚŝŶǀĞƐƚŵĞŶƚĚĞĐŝƐŝŽŶƐ͘͟
In Burgess’ view there is a demand for
board members who have experience with
ŶĞǁ ƚĞĐŚŶŽůŽŐŝĞƐ͗ ͞ŝƐƌƵƉƟǀĞ ƚĞĐŚŶŽůŽŐŝĞƐ͕
ĚŝŐŝƟnjĂƟŽŶ͕ /Žd͕ ďŝŐ ĚĂƚĂ͕ ĂŶĚ ĚĂƚĂ ĂŶĂůLJƟĐƐ
ĂƌĞŐŽŝŶŐƚŽŚĂǀĞĂƐƵďƐƚĂŶƟĂůŝŵƉĂĐƚŽŶŵŽƐƚ
every company. Our clients want people with
ƌĞůĞǀĂŶƚĂŶĚƌĞĂůͲƟŵĞƚĞĐŚŶŽůŽŐŝĐĂůĞdžƉĞƌŝĞŶĐĞ
ĂŶĚ ĞdžƉĞƌƟƐĞ͕͟ ŚĞ ƐĂŝĚ͕ ͞ďƵƚ ĐůŝĞŶƚƐ ŽŌĞŶ
approach us with a lingering concern. We’re
talking about people who are much younger
than we are used to having on the board. The
ƌĞůĞǀĂŶĐĞ ŽĨ ƉŽƚĞŶƟĂů ďŽĂƌĚ ŵĞŵďĞƌƐ ǁŝƚŚ
tech experience is incredible, considering
the types of technology companies want to
embrace, but do these young board prospects
ŚĂǀĞďƌŽĂĚĞŶŽƵŐŚĞdžƉĞƌŝĞŶĐĞͬďĂŶĚǁŝĚƚŚĂŶĚ
ƉĞƌƐƉĞĐƟǀĞ ƚŽ ďĞ ƐƵĸĐŝĞŶƚůLJ ǁĞůůͲƌŽƵŶĚĞĚ
ĂŶĚ ƐĞĂƐŽŶĞĚ ĞŶŽƵŐŚ ƚŽ ďĞ ƚƌƵůLJ ĞīĞĐƟǀĞ
ĚŝƌĞĐƚŽƌƐ͍͟
tŚŝůĞ ŶŽƚ ŐĞĂƌĞĚ ƐƉĞĐŝĮĐĂůůLJ ƚŽ LJŽƵŶŐ
ďŽĂƌĚ ƉƌŽƐƉĞĐƚƐ͕ EĞǁ ĞĂůĂŶĚ͛Ɛ ͞&ƵƚƵƌĞ
ŝƌĞĐƚŽƌƐ͟ ƉƌŽŐƌĂŵ ŝƐ ŝŵƉƌŽǀŝŶŐ ƚŚĞ ƉŝƉĞůŝŶĞ
of experienced board candidates. Jo Baxter
ĚĞƐĐƌŝďĞĚ ͞dŚĞ &ƵƚƵƌĞ ŝƌĞĐƚŽƌƐ ƉƌŽŐƌĂŵ͗
Ă ĨŽƌǁĂƌĚͲƚŚŝŶŬŝŶŐ ŝŶŝƟĂƟǀĞ ƐĞƚ ƵƉ ŝŶ ϮϬϭϯ
ƚŽ ŚĞůƉ ŽƚŚĞƌǁŝƐĞ ƋƵĂůŝĮĞĚ ĞdžĞĐƵƟǀĞƐ ŐĂŝŶ
experience in governance and to provide
boards with increased diversity of thinking,
currency of skillsets and a broader pool of
ƉŽƚĞŶƟĂůĐĂŶĚŝĚĂƚĞƐ͘͟
dŚƌŽƵŐŚ ƚŚŝƐ ŝŶŝƟĂƟǀĞ͕ ͚ĨƵƚƵƌĞ ĚŝƌĞĐƚŽƌƐ͛
ƉĂƌƟĐŝƉĂƚĞĂƐĂŵĞŵďĞƌŽĨĂďŽĂƌĚŽĨĂEĞǁ
Zealand company for one year and gain
valuable experience. Baxter explained that
ŝƚ ŝƐ Ă ǀĞƌLJ ĂĐƟǀĞ ƌŽůĞ͘ ͞dŚĞLJ ŵƵƐƚ ĐŽŶƚƌŝďƵƚĞ
ƚŽ Ăůů ŵĞĞƟŶŐƐ͕ ĂŶĚ ďLJ Ăůů ŝŶƚĞŶƚƐ ƚŚĞLJ ĂĐƚ ĂƐ
Ă ĚŝƌĞĐƚŽƌ ŚŽǁĞǀĞƌ ƚŚĞLJ ĚŽ ŶŽƚ ŚĂǀĞ ǀŽƟŶŐ
ƌŝŐŚƚƐ͘͟ ^ŚĞ ƐĂŝĚ͕ ͞/ƚ ŐŝǀĞƐ ƉĞŽƉůĞ ǁŚŽ ŚĂǀĞ
never had governance experience the chance
ƚŽƉĂƌƟĐŝƉĂƚĞĂƚĂŽĂƌĚƚĂďůĞ͘͟
Over two dozen directors have completed
ϯϰͲdžĞĐƵƟǀĞdĂůĞŶƚ
the one-year commitment since 2013. The
ĞdžƉĞĐƚĂƟŽŶŝƐƚŚĂƚƚŚĞLJǁŝůůŐŽŽŶƚŽŚĂǀĞďŽĂƌĚ
directorships following the program.
Board Assessment
and Effectiveness:
Shareholders globally are
demanding transparency
and accountability, and
ŽƌŐĂŶŝnjĂƟŽŶƐ ĂƌĞ ŝŶĐƌĞĂƐŝŶŐůLJ ŵĂŬŝŶŐ
commitments to evaluate the performance of
boards and in many cases, individual directors.
͞/ƚ ŝƐ ƐƚĂŶĚĂƌĚ ƉƌĂĐƟĐĞ ŝŶ ƚŚĞ h<͕ ĨŽƌ
example, that companies, boards engage in
ĂŶĞīĞĐƟǀĞŶĞƐƐƌĞǀŝĞǁĞǀĞƌLJϯLJĞĂƌƐ͕͟K͛ƌŝĞŶ
said. “We are seeing more of that in the states
in recent years, and part of that is being driven
ďLJƚŚĞƌĞĐŽŐŶŝƟŽŶƚŚĂƚďŽĂƌĚƐĂƌĞďĞŝŶŐŚĞůĚ
accountable to a degree that they weren’t,
before, and they have to make sure they
are performing at the highest possible level.
zŽƵ ŚĂǀĞ Ă ůŽƚ ŽĨ ƉƌĞƐƐƵƌĞ ĨƌŽŵ ŝŶƐƟƚƵƟŽŶĂů
ŝŶǀĞƐƚŽƌƐ͕ĂŶĚƚŚĂƚǁŝůůďĞĂŐƌŽǁŝŶŐƉƌĞƐƐƵƌĞ͘͟
,ŽǁĚŽŽƌŐĂŶŝnjĂƟŽŶƐŝĚĞŶƟĨLJĞīĞĐƟǀĞŶĞƐƐ͍
DĂƌŬƐ ƐĂŝĚ͕ ͞ŝīĞƌĞŶƚ ƐƚĂŬĞŚŽůĚĞƌƐ ŚĂǀĞ
ĚŝīĞƌĞŶƚǀŝĞǁƐŽĨŚŽǁĞīĞĐƟǀĞĂďŽĂƌĚŝƐ͘/ƚ͛Ɛ
something more and more boards do. Some
boards do it through internal process, others
ŐĞƚĂƐƐŝƐƚĂŶĐĞĨƌŽŵĂƚŚŝƌĚƉĂƌƚLJ͘͟,ŽŶĞƐƚƐĞůĨͲ
ƌĞŇĞĐƟŽŶ ŝƐŶ͛ƚ ĂůǁĂLJƐ ĂŶ ĞĂƐLJ ĞdžĞƌĐŝƐĞ ƵŶĚĞƌ
any circumstances some, but Marks’s said,
“It’s easier if they have an open, transparent
culture. And it is the hallmark of a good chair,
ǁŚŽŝƐŽƉĞŶƚŽĚŽŝŶŐƚŚĂƚĂƐǁĞůů͘͟
ƐƐĞƐƐŝŶŐďŽĂƌĚĞīĞĐƟǀĞŶĞƐƐŝƐĂŶĞǁ;ϮϬϭϱͿ
requirement of the Corporate Governance
Code in Japan, where, according to Tsuji,
͞dŚĞ ŵĞĂƐƵƌĞ ŽĨ ŽĂƌĚ ĞīĞĐƟǀĞŶĞƐƐ ǁĂƐ
ŶŽƚ ǁĞůůͲĚĞǀĞůŽƉĞĚ LJĞƚ͘͟ ,Ğ ĞdžƉůĂŝŶƐ ƚŚĂƚ ĂŶLJ
ĂƐƐĞƐƐŵĞŶƚǁĂƐĂŶŝŶƚĞƌŶĂůŵĂƩĞƌĨŽƌ:ĂƉĂŶ͛Ɛ
boards, “but the Code requires companies to
ĞǀĂůƵĂƚĞ ĂŶĚ ĂƐƐĞƐƐ ďŽĂƌĚ ĞīĞĐƟǀĞŶĞƐƐ͕ ĂŶĚ
ĨŽƌŵŽƐƚĐŽŵƉĂŶŝĞƐ͕ƚŚĞLJĂƌĞũƵƐƚƐƚĂƌƟŶŐ͘͟
tŚĞƚŚĞƌ ƚŚĞ ŝŶĐƌĞĂƐĞĚ ĂƩĞŶƟŽŶ ŽŶ ďŽĂƌĚ
ĂƐƐĞƐƐŵĞŶƚĂŶĚĞǀĂůƵĂƟŽŶǁŝůůŚĂǀĞĂŶŝŵƉĂĐƚ
on future board performance remains to be
seen, but another element of board assessment
is related to alignment: the inventory-taking of
skills and experience and making sure the board
ŚĂƐǁŚĂƚŝƚŶĞĞĚƐƚŽƉĞƌĨŽƌŵŝƚƐƌĞƐƉŽŶƐŝďŝůŝƟĞƐ͘
Changing Practices
in Board Search and
Advisory Services
/Ĩ ŝƚ ĂīĞĐƚƐ ƚŚĞ ĐůŝĞŶƚ͕ ŝƚ
ĂīĞĐƚƐ ƚŚĞ ĂĚǀŝƐŽƌ͘ &ŝƌŵƐ ĂŶĚ
consultants who are involved in board work see
ƚŚĞŝƌ ƉƌĂĐƟĐĞƐ ĐŚĂŶŐŝŶŐ͕ ĂƐ ƚŚĞ ƉƌŝŽƌŝƟĞƐ ĂŶĚ
needs of their clients change.
͞&ŝǀĞƚŽƚĞŶLJĞĂƌƐĂŐŽ͕ŝĨƚŚĞƌĞǁĂƐƐŽŵĞďŝŐ
KƚƌĂŶƐŝƟŽŶ͕ƚŚĞĐŽŵƉĂŶLJǁŽƵůĚďƌŝŶŐŝŶŚĂůĨ
a dozen folks to make a pitch, and somebody
ǁŽƵůĚ ǁŝŶ ƚŚĞ ŵĂŶĚĂƚĞ ĂŶĚ ŐŽ ĮŶĚ Ă ŶĞǁ
K͕͟K͛ƌŝĞŶƌĞĐĂůůĞĚ͘dŽĚĂLJ͕͞ĞĐĂƵƐĞŽĨƚŚĞ
requirements around long-term CEO succession
planning, boards have taken on thinking about
succession – so we get called in 2, 3, or 4 years
ĂŚĞĂĚ͘͟
To meet the changing needs of board clients,
Russell Reynolds “created a separate group
ĐĂůůĞĚ ƚŚĞ ŽĂƌĚ ĂŶĚ K ĚǀŝƐŽƌLJ 'ƌŽƵƉ͘͟
K͛ƌŝĞŶƐĂŝĚ͕͞tĞŶŽƟĐĞĚƚŚĂƚĂůŽƚŽĨŽƵƌǁŽƌŬ
ŚĂĚ ĞdžƉĂŶĚĞĚ ďĞLJŽŶĚ ĐŽŶǀĞŶƟŽŶĂů ĚŝƌĞĐƚŽƌ
search, and we reorganized ourselves to address
ƚŚĂƚŶĞĞĚ͘͟
dƐƵũŝ ĚĞƐĐƌŝďĞĚ ƚŚĞ ƚƌĂĚŝƟŽŶĂů ŵĞƚŚŽĚ ŽĨ
board member recruitment in Japan. “Especially
ŝŶůĂƌŐĞĐŽƌƉŽƌĂƟŽŶƐ͕KƐĂŶĚĐŚĂŝƌŵĂŶŚĂǀĞ
ƚŚĞŝƌ ŽǁŶ ƉĞƌƐŽŶĂů ŶĞƚǁŽƌŬƐ ŽĨ ĞdžĞĐƵƟǀĞƐ ŝŶ
the community, and they invite the external
ĚŝƌĞĐƚŽƌƐĨŽƌƚŚĞŵƐĞůǀĞƐ͘͟
With the new rules requiring outside board
ŵĞŵďĞƌƐ͕ ƋƵĂůŝĮĞĚ ĚŝƌĞĐƚŽƌƐ ǁŚŽ ĂƌĞ ŶŽƚ
already engaged on a board are becoming
ŚĂƌĚĞƌ ƚŽ ĮŶĚ͘ ͞^ŽŵĞ ĐŽŵƉĂŶŝĞƐ ŝŶ :ĂƉĂŶ͕
ďĞĐĂƵƐĞŽĨƚŚĞŚƵŐĞĚĞŵĂŶĚĨŽƌŶŽŶͲĞdžĞĐƵƟǀĞ
ĚŝƌĞĐƚŽƌƐ͕ ĂƌĞ ŵŽƌĞ ĂŶĚ ŵŽƌĞ ƵƐŝŶŐ ƐĞĂƌĐŚ͕͟
dƐƵũŝ ƐĂŝĚ͘ ͞^ŽŵĞ ĐůŝĞŶƚƐ ĂƐŬ ƐƉĞĐŝĮĐĂůůLJ ĨŽƌ
female board member candidates. We have a
ŐŽŽĚŶĞƚǁŽƌŬĂŵŽŶŐƐƚĨĞŵĂůĞĞdžĞĐƵƟǀĞƐ͕ĂŶĚ
we always keep developing the list of females
ĨŽƌƉŽƚĞŶƟĂůďŽĂƌĚĂƐƐŝŐŶŵĞŶƚƐ͘͟
&Žƌ ƵƌŐĞƐƐ͕ ŝƚ͛Ɛ Ă ĚŝīĞƌĞŶƚ ŬŝŶĚ ŽĨ ĐŚĂŶŐĞ͘
͞tŚĂƚ ŝƐ ĂīĞĐƟŶŐ ƵƐ ŝƐ ƚŚĞ ŝŶĐƌĞĂƐŝŶŐ ůĞǀĞů ŽĨ
ŐƌĂŶƵůĂƌŝƚLJŝŶĚŝƌĞĐƚŽƌƐ͛ƉƌŽĮůĞƐƚŚĂƚĐůŝĞŶƚƐĂƌĞ
ƉƌŽǀŝĚŝŶŐƵƐǁŝƚŚ͘͟ƵƌŐĞƐƐĚĞƐĐƌŝďĞĚƚŚĞƐŚŝŌ
ĨƌŽŵ ŚĂǀŝŶŐ ůĞƐƐ ĚŝƌĞĐƟŽŶ ĂŶĚ ŐƵŝĚĂŶĐĞ ĨƌŽŵ
clients to receiving a highly robust and well-
ƚŚŽƵŐŚƚ ŽƵƚ ĐĂŶĚŝĚĂƚĞ ƉƌŽĮůĞ͘  ͞/ƚ͛Ɛ ŐŝǀĞŶ ƵƐ
clearer marching orders, but some of the lanes
we now have to go down may be narrower.
dŚĞ ƐƉĞĐŝĮĐŝƚLJ ŝƐ ŐŽŽĚ͕ ďƵƚ ŝƚ ĐĂŶ ĂůƐŽ ďĞ
ĐŚĂůůĞŶŐŝŶŐ͕ďĞĐĂƵƐĞƚŚĞƉŽƉƵůĂƟŽŶLJŽƵ͛ƌĞŶŽǁ
ŐŽŝŶŐĂŌĞƌŵŝŐŚƚďĞƐŵĂůůĞƌ͘/ŶƐŽŵĞŝŶƐƚĂŶĐĞƐ
the pendulum has swung too far in favor of
ŐƌĂŶƵůĂƌŝƚLJ͘͟
What we hear globally is that board member
succession carries high stakes, and interested
ĐĂŶĚŝĚĂƚĞƐǁŚŽƉŽƐƐĞƐƐƚŚĞƌŝŐŚƚŵŝdžŽĨƋƵĂůŝƟĞƐ
ĂƌĞŚĂƌĚƚŽĮŶĚ͘dŚĂƚŝƐŶ͛ƚůŝŬĞůLJƚŽĐŚĂŶŐĞ͘
Imagining the
boards of the future
tŚĂƚ ŶĞdžƚ͍ tĞ ŝŶǀŝƚĞĚ
several board search and
advisory experts to speculate on what board
of directors will look like in 2025.
Board terms
Shorter. >ŽŶŐĞƌ ĐĂƌĞĞƌƐ͕ ůĂƚĞƌ ƌĞƟƌĞŵĞŶƚƐ͕
and limited term limits worldwide
notwithstanding, board tenure will be
shorter, because of the growing emphasis on
refreshment. What it means to be on a board
ǁŝůů ĐŚĂŶŐĞ͕ ĂŶĚ ƚŚĞ ĞdžƉĞĐƚĂƟŽŶ ŽĨ ƐĞŵŝͲ
permanence will change, too.
͞tĞ ŶĞĞĚ ƚŽ ƚŚŝŶŬ ŽĨ ƚŚĞ ďŽĂƌĚ ŽĨ
ĚŝƌĞĐƚŽƌƐ ŵŽƌĞ ĂƐ Ă ŐƌŽƵƉ ǁŚĞƌĞ ƚŚĞƌĞ
ŝƐ ĐŽŶƐƚĂŶƚ ƌĞĨƌĞƐŚŵĞŶƚ ĂŶĚ ĚŝƌĞĐƚŽƌƐ
ĐŽŵŝŶŐ ŝŶ ĂŶĚ ŽƵƚ͗ ĂƐ ƚŚĞ ďŽĂƌĚ ůŽŽŬƐ
ĨŽƌ ŶĞǁ ĞdžƉĞƌƟƐĞ͕ ĂŶĚ ĂƐ ƉĞŽƉůĞ ƐĂLJ͕ /
ƚŚŝŶŬ/͛ǀĞĚŽŶĞĞǀĞƌLJƚŚŝŶŐ/ĐĂŶŚĞƌĞ͕ŝƚ͛Ɛ
ƟŵĞ ƚŽ ŵŽǀĞ ŽŶ͛͘ /ƚ ǁŝůů ďĞ ŵƵĐŚ ŵŽƌĞ
ĚLJŶĂŵŝĐ͘͟
:ƵůŝĞĂƵŵ
Deliberate. Boards are taking succession
ĨƌŽŵ ƌĞĂĐƟǀĞ ƚŽ ƐƚƌĂƚĞŐŝĐ͘ EŽ ŵŽƌĞ ĚƌĂŐ Θ
drop, boards will be balancing skills, building
ĚŝǀĞƌƐŝƚLJ͕ ĂŶĚ ĐƌĞĂƟŶŐ Ă ƐƵĐĐĞƐƐĨƵů ƚĞĂŵ
based on the company strategy.
͞ŽĂƌĚƐ ĂƌĞ ƚŚŝŶŬŝŶŐ ŵƵĐŚ ŵŽƌĞ
ƉƌŽĂĐƟǀĞůLJ ĂƌŽƵŶĚ ƐƵĐĐĞƐƐŝŽŶ ƉůĂŶŶŝŶŐ
ŽĨ ďŽĂƌĚ ŵĞŵďĞƌƐ͕ ǁŚĞƌĞ ƚŚĞ ďƵƐŝŶĞƐƐ
ŝƐ ŐŽŝŶŐ ĂŶĚ ĂŶLJ ŚĞĂĚǁŝŶĚƐ ;ƐƵĐŚ ĂƐ
ĐLJďĞƌ ƌŝƐŬ ĞdžƉŽƐƵƌĞ͕ ĂŶĚ ƚŚĞ ƌŝƐĞ ŽĨ ƚŚĞ
ĚŝŐŝƚĂůůLJ ƐĂǀǀLJ ŵŝůůĞŶŶŝĂů ŐĞŶĞƌĂƟŽŶ ĂƐ
ĂĐŽŶƐƵŵĞƌŐƌŽƵƉͿ͕ĂŶĚƚŚĞƌĞůĂƚĞĚƐŬŝůůƐ
ƚŚĞLJ ŵĂLJ ǁŝƐŚ ƚŽ ďƌŝŶŐ ŽŶƚŽ ƚŚĞ ďŽĂƌĚ͘
dŚŝƐ ĨĞĞĚƐ ŝŶƚŽ ƚŚĞ ďƌŽĂĚĞƌ ĐŽŐŶŝƟǀĞ
ĚŝǀĞƌƐŝƚLJƋƵĞƐƟŽŶ͙͘ĂƐLJŽƵƚŚŝŶŬĂďŽƵƚ
ƐƵĐĐĞƐƐŝŽŶ ƉůĂŶŶŝŶŐ ŝŶ Ă ƉƌŽĂĐƟǀĞ ǁĂLJ͕
LJŽƵ ǁŝůů ǁĂŶƚ ƚŽ ĂĚĚƌĞƐƐ ƚŚĞ ƋƵĞƐƟŽŶ
ŽĨ ǁŚĞƌĞ ĞůƐĞ ĐŽƵůĚ LJŽƵ ŐŽ͕ ĂŶĚ ǁŚĂƚ
ĞdžĂĐƚůLJĚŽLJŽƵǁĂŶƚ͘͟
^ƵƐĂŶŶĞdŚŽƌŶŝŶŐͲ>ƵŶĚ
Composition:
Diverse. The business case for diversity has
been around, studied and measured, for a
ůŽŶŐƟŵĞ͘/ƚ͛ƐŚĂƌĚƚŽƐĂLJǁŚLJŽƌŐĂŶŝnjĂƟŽŶƐ
aren’t farther along, though some parts of
ƚŚĞǁŽƌůĚĂƌĞĚŽŝŶŐƐŝŐŶŝĮĐĂŶƚůLJďĞƩĞƌƚŚĂŶ
others. If public outcry doesn’t demand it,
ƚŚĞĚƌŝǀĞƚŽďĞĐŽŵƉĞƟƟǀĞŵĂLJ͘
͞ŽĂƌĚƐ ǁŝůů ĐĞƌƚĂŝŶůLJ ďĞ Ă ůŽƚ ŵŽƌĞ
ĚŝǀĞƌƐĞ ŝŶ ƚŚĞ ĨƵƚƵƌĞ͕ ĂŶĚ ĚŝǀĞƌƐĞ ŝŶ
ĞǀĞƌLJ ƐĞŶƐĞ͗ ŐĞŶĚĞƌ͕ ƌĂĐĞ͕ ĂŐĞ͕ ƐĞĐƚŽƌ͕
ďĂĐŬŐƌŽƵŶĚ͕ ĐŽŵƉĞƚĞŶĐŝĞƐ ĂŶĚ ŐůŽďĂů
ƉĞƌƐƉĞĐƟǀĞ͘ dŚĞƌĞ ŝƐ ŽŶĞ ƚŚŝŶŐ ĨŽƌ
ĐĞƌƚĂŝŶ͕LJŽƵǁŝůůŶŽƚƐĞĞďŽĂƌĚƐƚŚĂƚĂƌĞ
džĞĐƵƟǀĞdĂůĞŶƚͲϯϱ
 AESC Members provide boards
with top-of-the-profession
assessment, advising, and
recruiting services.
DIVERSITY AND BOARDS
ŝǀĞƌƐĞďŽĂƌĚƐĂƌĞďĞƩĞƌďŽĂƌĚƐ͘
We know that diversity enhances
business results and drives
ŝŶŶŽǀĂƟŽŶ͘^ŵĞŵďĞƌƐĂƌĞ
proud of their work with clients
to enhance board diversity.
BOARD COMPOSITION
STRATEGY
Clients can count on AESC
ŵĞŵďĞƌƐƚŽŚĞůƉĚĞĮŶĞĂŶĚ
ƚŚĞŶŵĞĞƚƚŚĞŝƌƐƉĞĐŝĮĐďŽĂƌĚ
ĐŽŵƉŽƐŝƟŽŶŶĞĞĚƐ͘^
ŵĞŵďĞƌƐĂƌĞĂďůĞƚŽďĞĐƌĞĂƟǀĞ
ĂŶĚŝŶŶŽǀĂƟǀĞǁŚĞŶŝƚĐŽŵĞƐƚŽ
developing and delivering on a
ĨƌĞƐŚďŽĂƌĚĐŽŵƉŽƐŝƟŽŶƐƚƌĂƚĞŐLJ͘
BOARD SEARCH
^ŵĞŵďĞƌƐĞŶũŽLJƚŚĞĐŚĂůůĞŶŐĞ
ŽĨĂĚŝĸĐƵůƚƐĞĂƌĐŚĂŶĚƉƌŝĚĞ
ƚŚĞŵƐĞůǀĞƐŽŶŝŶŶŽǀĂƟǀĞĂŶĚ
ĚŝǀĞƌƐĞƐŽůƵƟŽŶƐ͘dŚĞLJŬŶŽǁƚŚĞ
ǀĂůƵĞƚŚĂƚŝŶĚĞƉƚŚƉƌĞƉĂƌĂƟŽŶƉůĂLJƐ
ŝŶƚŚĞĐƌŝƟĐĂůƐĞůĞĐƟŽŶƉƌŽĐĞƐƐ͘
They are also expert at preparing
ĮƌƐƚƟŵĞďŽĂƌĚĐĂŶĚŝĚĂƚĞƐĨŽƌƚŚĞŝƌ
board interviews and their board
ĂƉƉŽŝŶƚŵĞŶƚ
BOARD ADVISORY
SERVICES
As trusted advisors, AESC
ŵĞŵďĞƌƐĐĂŶďĞĐŽƵŶƚĞĚŽŶƚŽ
ĞŶŚĂŶĐĞďŽĂƌĚĞīĞĐƟǀĞŶĞƐƐ
whether assessing board culture,
ŝŶĚƵĐƟŶŐĂŶĚŽŶďŽĂƌĚŝŶŐŶĞǁ
ďŽĂƌĚŵĞŵďĞƌƐ͕ƐƚƌĞŶŐƚŚĞŶŝŶŐƚŚĞ
ƌĞůĂƟŽŶƐŚŝƉďĞƚǁĞĞŶƚŚĞKĂŶĚ
ƚŚĞŽĂƌĚ͕ŽƌĚĞĮŶŝŶŐŽĂƌĚƌŽůĞƐ͘
Our AESC Board Search and
Advisory Services Guiding
Principles is designed to deliver
client-centered results.
LEARN MORE AT
ŚƩƉƐ͗ͬͬŐŽŽ͘ŐůͬnjŚ>ƚŬ
;EŽƚĞ͗>ŝŶŬŝƐĐĂƐĞƐĞŶƐŝƟǀĞ͘Ϳ
ϯϲͲdžĞĐƵƟǀĞdĂůĞŶƚ
ƐŽůĞůLJŵĂĚĞƵƉŽĨŵĞŶĂŐĞĚϱϱ Engaged. ŽĂƌĚƐ ƚƌĂĚŝƟŽŶĂůůLJ ŬĞĞƉ
ƚŽϳϱ͘͟ some distance from the companies
:ŽĂdžƚĞƌ ƚŚĞLJƐĞƌǀĞ͕ďƵƚƉĂƐƐŝǀĞŶŽŶͲĞdžĞĐƵƟǀĞ
board directors may become fewer,
Younger. It’s not simply that Baby as the levels of transparency, public
ŽŽŵĞƌƐ ĂƌĞ ƌĞƟƌŝŶŐ ĂŶĚ ƚŚĞŝƌ ƐĐƌƵƟŶLJ͕ĂŶĚĂĐĐŽƵŶƚĂďŝůŝƚLJĐŽŶƟŶƵĞ
places in businesses and boards are to rise.
ƚƌĂŶƐŝƟŽŶŝŶŐƚŽƚŚĞŶĞdžƚŐĞŶĞƌĂƟŽŶ͘
Shareholders and business leaders ͞^ŝƫŶŐ ŽŶ Ă ďŽĂƌĚ ŝƐ ŶŽǁ ĂŶ
are recognizing the value of a younger ĂĐƟǀĞ ĞŶŐĂŐĞŵĞŶƚ ĨŽƌ ƐĞŶŝŽƌ
ƉĞƌƐƉĞĐƟǀĞ͕ĂŶĚĚĞŵĂŶĚŝŶŐŝƚ͘ ĞdžĞĐƵƟǀĞƐ ǁŚŽ ƌĞƟƌĞ ĞĂƌůLJ
ĂŶĚ ĐŚŽŽƐĞ ƚŽ ĚĞǀĞůŽƉ Ă ďŽĂƌĚ
͞tĞ͛ůů ƐĞĞ Ă ĐŽŶƟŶƵĞĚ͕ ŝĨ ŶŽƚ ƉŽƌƞŽůŝŽĨŽƌƚŚĞŶĞdžƚϭϬͲϭϱLJĞĂƌƐ
ŝŶĐƌĞĂƐĞĚ͕ĚĞŵĂŶĚĨŽƌĚŝŐŝƚĂůŽƌ ŽĨ ƚŚĞŝƌ ĐĂƌĞĞƌƐ͘ dŚĞLJ͛ƌĞ ďĞƩĞƌ
ƚĞĐŚŶŽůŽŐLJͲƌĞůĂƚĞĚ ĞdžƉĞƌŝĞŶĐĞ ƉƌĞƉĂƌĞĚ͕ƌĞĂĚƚŚĞŽĂƌĚƉĂƉĞƌƐ
ŽŶ ƚŚĞ ďŽĂƌĚ͕ ĞƐƉĞĐŝĂůůLJ ƐŝŶĐĞ ĂŶĚŵĂŬĞƚŚŝƐƚŚĞŝƌƉƌŝŽƌŝƚLJ͘͟
ŵŽƐƚ ĐŽŵƉĂŶŝĞƐ ĂƌĞ ŽŶ ƐŽŵĞ <ĞǀŝŶ:ƵƌĚ
ƐŽƌƚ ŽĨ ƚĞĐŚŶŽůŽŐŝĐĂů ũŽƵƌŶĞLJ
;Ğ͘Ő͘ /ŶĚƵƐƚƌLJ ϰ͘ϬͿ͕ ĂŶĚ ƚŚŝƐ ǁŝůů
ĂůƐŽƌĞƐƵůƚŝŶŝŶĐƌĞĂƐŝŶŐŶƵŵďĞƌƐ Conclusion
ŽĨ LJŽƵŶŐĞƌ ĚŝƌĞĐƚŽƌƐ ƉŽƉƵůĂƟŶŐ ͞tŚĞŶĐŽŶƐŝĚĞƌŝŶŐŚŽǁďŽĂƌĚƐǁŝůů
ďŽĂƌĚƐ͘ /ƚ ǁŝůů ďĞ ŝŶƚĞƌĞƐƟŶŐ ƚŽ ďĞĚŝīĞƌĞŶƚ͕ǁĞƐŚŽƵůĚĮƌƐƚĐŽŶƐŝĚĞƌ
ƐĞĞ ŚŽǁ ƚŚŝƐ LJŽƵƚŚ ŵŽǀĞŵĞŶƚ ŚŽǁĐŽŵƉĂŶŝĞƐǁŝůůďĞĚŝīĞƌĞŶƚ
ŝŵƉĂĐƚƐ ďŽĂƌĚ ĚLJŶĂŵŝĐƐ ĂŶĚ ŝŶϮϬϮϱƚŚĂŶƚŽĚĂLJ͘'ŽŽĚďŽĂƌĚƐ
ďŽĂƌĚĐƵůƚƵƌĞ͘͟ ƌĞŇĞĐƚƚŚĞĞǀŽůƵƟŽŶŽĨƚŚĞĐŽŵƉĂŶLJ͕
ĂƌƚĞƌƵƌŐĞƐƐ ƚŚĞƐĞĐƚŽƌĂŶĚƚŚĞďƌŽĂĚĞƌďƵƐŝŶĞƐƐ
ĞŶǀŝƌŽŶŵĞŶƚ͘͟
Trends:   <ĂƟĞ>ĂŚĞLJ
Relevant. Boards are becoming
more than a governance body, and What comes to mind when
directors are increasingly required to most people think about boards
contribute meaningfully to strategy, ŽĨ ĚŝƌĞĐƚŽƌƐ͍ DŽƐƚ ůŝŬĞůLJ ƚŚĞ ŝŵĂŐĞ
and engage in decision-making with includes a lot of men who have
ƉĞƌƐƉĞĐƟǀĞƐ ƚŚĂƚ ĂƌĞ ƌĞůĞǀĂŶƚ ĂŶĚ ďĞĞŶƚŽŐĞƚŚĞƌĂůŽŶŐƟŵĞ͕ŝŶĂƐƚĂůĞ
ĐŽŶŶĞĐƚĞĚƚŽďƵƐŝŶĞƐƐƌĞĂůŝƟĞƐ͘ room, behind a closed door. But the
world is changing, and companies—
͞ŝƐƌƵƉƚŽƌƐ ƐƵĐŚ ĂƐ ĚŝŐŝƚĂů and the boards that serve them—
ƚĞĐŚŶŽůŽŐLJ͕ ŐůŽďĂů ĞǀĞŶƚƐ Žƌ are changing, too. With increasing
ŐŽǀĞƌŶŵĞŶƚ ƉŽůŝĐŝĞƐ ƋƵŝĐŬůLJ ƚƌĂŶƐƉĂƌĞŶĐLJ͕ĂŐƌŽǁŝŶŐĂƉƉƌĞĐŝĂƟŽŶ
ŝŵƉĂĐƚŽƵƌŵĂƌŬĞƚĂŶĚ/ƚŚŝŶŬǁĞ ĨŽƌ ƚŚĞ ĐŽŵƉĞƟƟǀĞ ĂĚǀĂŶƚĂŐĞ ŽĨ
ǁŝůů ƐĞĞ ďŽĂƌĚƐ ƚŚĂƚ ĂƌĞ ĐůŽƐĞůLJ ĚŝǀĞƌƐĞ ƉĞƌƐƉĞĐƟǀĞƐ͕ ĂŶĚ Ă ƌŝƐŝŶŐ
ĞŶŐĂŐĞĚ ǁŝƚŚ ƚŚĞ ƐƚƌĂƚĞŐLJ ĂŶĚ degree of engagement from non-
ŶŽŶͲĞdžĞĐƵƟǀĞĚŝƌĞĐƚŽƌƐǁŝƚŚĚĞĞƉ ĞdžĞĐƵƟǀĞ ĚŝƌĞĐƚŽƌƐ͕ ďŽĂƌĚƐ ĂƌĞ
ĂŶĚ ƐƉĞĐŝĮĐ ŬŶŽǁůĞĚŐĞ ŝŶ ƚŚĞ becoming more open, diverse and
ĂƌĞĂƐƚŚĂƚƉƌĞƐĞŶƚƚŚĞŵŽƐƚƌŝƐŬ͘͟ agile.
<ĂƟĞ>ĂŚĞLJ „
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The New School Approach to
Assessing Emerging Leaders
LJ<ĂŶĚĂĐĞDŝůůĞƌ͕'ůŽďĂůŝƌĞĐƚŽƌŽĨDĂƌŬĞƟŶŐ͕dŚĞůƵĞŶŽƌƉŽƌĂƟŽŶ
A
Sponsored content: s a ŐůŽďĂů ĞdžĞĐƵƟǀĞ ƐĞĂƌĐŚ ƐŽŌǁĂƌĞ
dŚĞůƵĞŶŽƌƉŽƌĂƟŽŶ provider, we have seen both search
ĮƌŵƐ ĂŶĚ ŝŶͲŚŽƵƐĞ ƚĞĂŵƐ ĐŚĂŶŐĞ ƚŚĞŝƌ
approach to how they engage and assess high
ƉŽƚĞŶƟĂůƚĂůĞŶƚ͘ŵĞƌŐŝŶŐůĞĂĚĞƌƐĐĂŶƚŽŽŽŌĞŶ
ďĞŐĞŶĞƌĂůŝnjĞĚ͕ďĂƐĞĚŽŶƉƌĞǀĂŝůŝŶŐŐĞŶĞƌĂƟŽŶĂů
stereotypes. How many studies have been
published on Millennials, for example, that shape
ǁŚĂƚǁĞƚŚŝŶŬĂďŽƵƚƐŽŵĞŽŶĞŽĨƚŚĂƚŐĞŶĞƌĂƟŽŶ͍
ϯϴͲdžĞĐƵƟǀĞdĂůĞŶƚ
dŚĞƐĞŵŝƐĐŽŶĐĞƉƟŽŶƐŽĨŚŝŐŚƉŽƚĞŶƟĂůƐŽŌĞŶƟĞ
back to the fact that they are young and lack the
experience of their predecessors.
^ĞĂƌĐŚ ƚĞĂŵƐ ĐĂŶ ĞīĞĐƟǀĞůLJ ĞǀĂůƵĂƚĞ ĂŶ
ĞŵĞƌŐŝŶŐ ůĞĂĚĞƌ͛Ɛ ƉŽƚĞŶƟĂů ĂŶĚ ĂďŝůŝƚLJ ƚŽ
be successful for a role through research
into past projects and analyzing a hybrid of
ĐŽŵƉĞƚĞŶĐŝĞƐƚŚƌŽƵŐŚĚŝīĞƌĞŶƚƉĞƌƐƉĞĐƟǀĞƐ͘
As highlighted in the chart, some leadership
competencies are common across
ŐĞŶĞƌĂƟŽŶƐ͕ ǁŚĞƌĞĂƐ ŽƚŚĞƌƐ ƐƚĂŶĚ ŽƵƚ ĂƐ
more unique to emerging leaders. While
ůĞĂƌŶŝŶŐ ĂŐŝůŝƚLJ ĂŶĚ ĐƌŝƟĐĂů ƚŚŝŶŬŝŶŐ ŵĂLJ
ďĞ ĐŽƌĞ ĂƩƌŝďƵƚĞƐ ƐŽƵŐŚƚ ŝŶ ƚŽĚĂLJ͛Ɛ ĂŶĚ
ƚŽŵŽƌƌŽǁ͛ƐůĞĂĚĞƌƐ͕ƚŽŵŽƌƌŽǁ͛ƐĞdžĞĐƵƟǀĞƐ
ǁŝůůůĞĂĚĞŶƟƌĞůLJĚŝŐŝƚĂůďƵƐŝŶĞƐƐĞƐĂŶĚ͕ĂƐ
a result, they will be required to lead at a
much faster pace of change than in the
ƉĂƐƚ͘ >ĂƚĞƌĂů ƚŚŝŶŬŝŶŐ ĂŶĚ ĐŽůůĂďŽƌĂƟŽŶ
ĂƌĞ ĂƩƌŝďƵƚĞƐ ƚŚĂƚ ĐĂŶ ĂůůŽǁ ƚŽŵŽƌƌŽǁ͛Ɛ
ůĞĂĚĞƌƐƚŽŇŽƵƌŝƐŚĂŵŝĚƐƚƐƵĐŚŚŝŐŚƐƚĂŬĞƐ͘
Key drivers we see next-
generation leaders
are looking for in new
opportunities:
x ĞŶĞĮƚƐ;ŽƵƚƐŝĚĞŽĨďĂƐŝĐĐŽŵƉͬďŽŶƵƐͿ
x Latest Technology
x Professional Development
x Personal Touch
x ŽŶƟŶƵŽƵƐǀĂůƵĂƟŽŶƐͬ&ĞĞĚďĂĐŬ
x ƌĞĂƟǀĞ&ƌĞĞĚŽŵ
x ĞǀĞůŽƉŵĞŶƚͬdƌĂŝŶŝŶŐWƌŽŐƌĂŵƐ
x tŽƌŬͬůŝĨĞĂůĂŶĐĞ
x Ability to Work Remote
x ĚƵĐĂƟŽŶĂů/ŶĐĞŶƟǀĞƐͬ
Reimbursements
x Sustainability and Environmental
Stewardship
dŚĞƐĞĚƌŝǀĞƌƐĐĂŶŵĂŬĞĂďŝŐĚŝīĞƌĞŶĐĞ ĂŶĚ ƟƉƐ͕ ƐŚŽǁĐĂƐŝŶŐ ƚĂůĞŶƚ LJŽƵ ŚĂǀĞ
ǁŚĞŶ ŝƚ ĐŽŵĞƐ ƚŽ ƌĞĐƌƵŝƟŶŐ ŶĞdžƚͲ successfully placed. These stories are
ŐĞŶĞƌĂƟŽŶ ůĞĂĚĞƌƐ͘ /ƚ ĐĂŶ ĂůƐŽ ŵĂŬĞ ƚŚĞ sure to provide a greater return of
ĚŝīĞƌĞŶĐĞ ǁŚĞŶ ŝƚ ĐŽŵĞƐ ƚŽ ĂĐƚƵĂůůLJ ŝŶƚĞƌĞƐƚ ĨƌŽŵ ƚŚĞ ŶĞdžƚͲŐĞŶĞƌĂƟŽŶ ŽĨ
retaining them within a company. leaders (especially when shared on social
media).
As always, it is important to keep in mind
Engaging with Emerging that while you are assessing emerging
Leaders leaders, they are assessing you back.
Another trend we are seeing is 'ŝǀĞ ĂŶ ĞĚƵĐĂƟŽŶĂů͕ ĂƵƚŚĞŶƟĐ ŝŶƚĞƌǀŝĞǁ
ĞdžĞĐƵƟǀĞƐĞĂƌĐŚĮƌŵƐĂŶĚŝŶƚĞƌŶĂůƚĂůĞŶƚ experience. The more challenging the
teams are placing a larger emphasis on ďĞƩĞƌ͘
how they engage with emerging leaders.
dŽ ĞīĞĐƟǀĞůLJ ĞŶŐĂŐĞ ĞŵĞƌŐŝŶŐ ƚĂůĞŶƚ͕
the message must be in-line with their About Cluen
ŝŶƚĞƌĞƐƚƐ͕ ŶĞĞĚƐ͕ ĂŶĚ ŝĚĞĂƐ͕ ƐŽ ĮŶĚŝŶŐ ůƵĞŶŚĂƐƉƌŽǀŝĚĞĚƐŽŌǁĂƌĞƚŽĞdžĞĐƵƟǀĞ
out what resonates with them is crucial ƐĞĂƌĐŚĮƌŵƐŐůŽďĂůůLJƐŝŶĐĞϭϵϵϬ͘ůƵĞŶ͛Ɛ
to making and retaining a ĐůŽƵĚͲďĂƐĞĚ ƐŽůƵƟŽŶ͕
placement. EncoreOne, allows you
ŽŶŶĞĐƟŶŐ ǁŝƚŚ ƚĂůĞŶƚ ƚŽ ƚƌĂĐŬ ƌĞůĂƟŽŶĂů ĚĂƚĂ
can be done through various and automate your
channels, such as social recruitment process.
ŵĞĚŝĂĂŶĚĞŵĂŝůŵĂƌŬĞƟŶŐ͘ Cluen’s experts consult
Make sure the message ǁŝƚŚƐĞĂƌĐŚĮƌŵƐĂƌŽƵŶĚ
ŝƐ ĂƵƚŚĞŶƟĐ ĂŶĚ ƉƌĞƐĞŶƚƐ the world on best
an accurate image of the ƉƌĂĐƟĐĞƐĨŽƌƌĞůĂƟŽŶƐŚŝƉͲ
company culture, whether driven search and
it is your own or your ĞdžĞĐƵƟǀĞ ĂƐƐĞƐƐŵĞŶƚƐ͘
Kandace Miller,
ĐůŝĞŶƚƐ͘ ŶŽƚŚĞƌ ĞīĞĐƟǀĞ Contact us today for
'ůŽďĂůŝƌĞĐƚŽƌŽĨDĂƌŬĞƟŶŐ͕
tool is sharing case-studies dŚĞůƵĞŶŽƌƉŽƌĂƟŽŶ ŵŽƌĞŝŶĨŽƌŵĂƟŽŶ͘„
džĞĐƵƟǀĞdĂůĞŶƚͲϯϵ
 What Does the GDPR Mean for
Executive Search?
LJŶĚLJtĂƌƌĞŶ͕&KĂŶĚŚŝĞĨ/ŶĨŽƌŵĂƟŽŶ^ĞĐƵƌŝƚLJKĸĐĞƌ͕/ŶǀĞŶŝĂƐ
I
Sponsored content: n an industry underpinned by data, it
Invenias is unlikely that the acronym ‘GDPR’ is
an unfamiliar term to those working in
ĞdžĞĐƵƟǀĞ ƐĞĂƌĐŚ͘ &ƌŽŵ DĂLJ ϮϬϭϴ͕ ƚŚĞ ƌƵůĞƐ
ĂŶĚ ƌĞŐƵůĂƟŽŶƐ ƌĞŐĂƌĚŝŶŐ ƚŚĞ ǁĂLJ ŝŶ ǁŚŝĐŚ
data is stored, shared and moved will change
ĚƌĂŵĂƟĐĂůůLJ͕ ĂŶĚ ƚŚŝƐ ǁŝůů ŚĂǀĞ Ă ƐŝŐŶŝĮĐĂŶƚ
ŝŵƉĂĐƚ ŽŶ ƚŚĞ ǁŽƌŬŝŶŐ ƉƌĂĐƟĐĞƐ ŽĨ ƚŚĞ
ĞdžĞĐƵƟǀĞƐĞĂƌĐŚƉƌŽĨĞƐƐŝŽŶĂů͘
  ƌĞĐĞŶƚ ƐƵƌǀĞLJ ďLJ /ŶǀĞŶŝĂƐ ŽĨ ĞdžĞĐƵƟǀĞ
search professionals revealed:
x 30% haven’t yet taken steps to
prepare for the changes to the GDPR
x 55% have started to think about how
they might prepare for the changes to
the GDPR
x 15% ĂƌĞ ĂĐƟǀĞůLJ ƉůĂŶŶŝŶŐ ĨŽƌ ƚŚĞ
changes to the GDPR
tŝƚŚ Ă ƉůĞƚŚŽƌĂ ŽĨ ŝŶĨŽƌŵĂƟŽŶ ĂǀĂŝůĂďůĞ͕
ƚŚŝƐ ĂƌƟĐůĞ ƉƌŽǀŝĚĞƐ Ă ŐĞŶĞƌĂů ŽǀĞƌǀŝĞǁ ŽĨ
the GDPR and discusses the impact of data
ϰϬͲdžĞĐƵƟǀĞdĂůĞŶƚ
ƉƌŽƚĞĐƟŽŶ ĐŚĂŶŐĞƐ ŽŶ ƚŚŽƐĞ ƌĞƐƉŽŶƐŝďůĞ ĨŽƌ
ĞdžĞĐƵƟǀĞŚŝƌŝŶŐ͘
An overview of the GDPR
dŚĞ 'WZ Žƌ 'ĞŶĞƌĂů ĂƚĂ WƌŽƚĞĐƟŽŶ
ZĞŐƵůĂƟŽŶ ǁŝůů ĐŽŵĞ ŝŶƚŽ ĨŽƌĐĞ ŝŶ ƚŚĞ h< ďLJ
May 2018 and will safeguard European Union
ĐŝƟnjĞŶƐǁŝƚŚƌĞƐƉĞĐƚƚŽƚŚĞŝƌĚĂƚĂƉƌŝǀĂĐLJƌŝŐŚƚƐ͘
dŚĞůĞŐŝƐůĂƟŽŶǁŝůůŝŵƉĂĐƚĂůůŽƌŐĂŶŝƐĂƟŽŶƐƚŚĂƚ
are either based in, or do business in, the EU.
/ŶĞƐƐĞŶĐĞ͕ƚŚĞůĞŐŝƐůĂƟŽŶǁŝůůŐŝǀĞŝŶĚŝǀŝĚƵĂůƐ
greater rights and control over their data by
way of consent as well as the power to access,
ƌĞĐƟĨLJŽƌĞƌĂƐĞŝŶĨŽƌŵĂƟŽŶŚĞůĚĂŶĚƚŚĞƌŝŐŚƚ
to be informed.
The Key Differences
dŚĞĮŶĂŶĐŝĂůŝŵƉůŝĐĂƟŽŶƐĨŽƌĚĂƚĂďƌĞĂĐŚĞƐ
ĂƌĞ ƐŝŐŶŝĮĐĂŶƚůLJ ŚŝŐŚĞƌ ƵŶĚĞƌ ƚŚĞ 'WZ ƚŚĂŶ
ƵŶĚĞƌƚŚĞĞdžŝƐƟŶŐĚĂƚĂƉƌŽƚĞĐƟŽŶůĞŐŝƐůĂƟŽŶ͘
/ŶĂĚĚŝƟŽŶ͕ƵŶĚĞƌƚŚĞ'WZ͕ŽƌŐĂŶŝnjĂƟŽŶƐĂƌĞ
ƌĞƋƵŝƌĞĚƚŽŶŽƟĨLJƐƵƉĞƌǀŝƐŽƌLJĂƵƚŚŽƌŝƟĞƐĂŶĚ
ĂīĞĐƚĞĚŝŶĚŝǀŝĚƵĂůƐŽĨĂĚĂƚĂďƌĞĂĐŚǁŝƚŚŝŶϳϮ
ŚŽƵƌƐŽĨĚŝƐĐŽǀĞƌLJ͕ĂŶĞǁŽďůŝŐĂƟŽŶŝŶƚƌŽĚƵĐĞĚ
by the GDPR.
Whilst the legal basis for the processing of
data has always been present in previous data
ƉƌŝǀĂĐLJ ƌƵůĞƐ͕ ƵŶĚĞƌ ƚŚĞ ŶĞǁ ůĞŐŝƐůĂƟŽŶ͕ ƚŚĞ
bar has been raised on the requirement for
ŽŶƐĞŶƚ͘ hŶĚĞƌ ƚŚĞ ŶĞǁ ůĞŐŝƐůĂƟŽŶ ŽŶƐĞŶƚ
ŵƵƐƚ ďĞ ĨƌĞĞůLJ ŐŝǀĞŶ͖ ƐƉĞĐŝĮĐ͖ ŐƌĂŶƵůĂƌ͖
ĐůĞĂƌ͖ ƉƌŽŵŝŶĞŶƚ͖ ďĂƐĞĚ ŽŶ ĂŶ ĂĐƟǀĞ ŽƉƚͲŝŶ͕
ƐƚĂƚĞŵĞŶƚ Žƌ ĂĸƌŵĂƟǀĞ ĂĐƟŽŶ͖ ĚŽĐƵŵĞŶƚĞĚ
and easily withdrawn. You are required to
ŶŽƟĨLJ ĚĂƚĂ ƐƵďũĞĐƚƐ ƚŚĂƚ ƚŚĞLJ ŚĂǀĞ ƚŚĞ ƌŝŐŚƚ
to withdraw their Consent and you cannot
ĚĞŵĂŶĚŽŶƐĞŶƚĂƐĂĐŽŶĚŝƟŽŶŽĨƉƌŽǀŝĚŝŶŐĂ
service.
Although implicit requirements of
ĐƵƌƌĞŶƚ ĚĂƚĂ ƉƌŽƚĞĐƟŽŶ ůĂǁ͕ ƚŚĞ ƉƌŝŶĐŝƉůĞƐ
of accountability and transparency are
emphasised and elevated under the GDPR. The
ŶĞǁůĞŐŝƐůĂƟŽŶƌĞƋƵŝƌĞƐLJŽƵƚŽƌĞĐŽƌĚĂŶĚďĞ
able to clearly demonstrate compliance with
ƚŚĞ ƉƌŝŶĐŝƉůĞƐ ʹ ĨŽƌ ĞdžĂŵƉůĞ ďLJ ĚŽĐƵŵĞŶƟŶŐ
the decisions you take about a processing
ĂĐƟǀŝƚLJ͘
What do the changes mean for
executive search?
There is no doubt, the changes to the GDPR
ǁŝůůŚĂǀĞĂƐŝŐŶŝĮĐĂŶƚŝŵƉĂĐƚŽŶƚŚĞĞdžĞĐƵƟǀĞ
ƐĞĂƌĐŚ ƉƌŽĨĞƐƐŝŽŶ͘ ŶLJ Įƌŵ ƚŚĂƚ ŽƉĞƌĂƚĞƐ ŝŶ
the EU, has clients that operate in the EU, or
ƚŚĂƚƉƌŽĐĞƐƐĞƐĚĂƚĂŽŶhĐŝƟnjĞŶƐĂƌĞƐƵďũĞĐƚ
ƚŽ ƚŚĞƐĞ ĐŚĂŶŐĞƐ ŝŶ ůĞŐŝƐůĂƟŽŶ͕ ƌĞŐĂƌĚůĞƐƐ ŽĨ
ǁŚĞƌĞŝŶĨŽƌŵĂƟŽŶŝƐƐƚŽƌĞĚ͕ǁŚĞƚŚĞƌŝƚŝƐŚĞůĚ
in emails, a database or in spreadsheets. The
rules will have a similar impact on technology
suppliers to the industry, with those who act as
a data controller or data processor also bound
by and required to comply with the changes
ƚŽƚŚĞ'WZ͘džĞĐƵƟǀĞƐĞĂƌĐŚĮƌŵƐǁŝůůŚĂǀĞ
to show that their systems and
technology are compliant.
It’s not all doom and
gloom
With severe non-compliance
ƉĞŶĂůƟĞƐ ŽĨ hZϮϬ ŵŝůůŝŽŶ Žƌ ϰй
of worldwide turnover, the GDPR
ǁŝůů ŵĂŬĞ ŽƌŐĂŶŝƐĂƟŽŶƐ ŵŽƌĞ
accountable for their approach Andy Warren,
to data and the changes must be &KĂŶĚŚŝĞĨ/ŶĨŽƌŵĂƟŽŶ
ŐŝǀĞŶ ĂƉƉƌŽƉƌŝĂƚĞ ĐŽŶƐŝĚĞƌĂƟŽŶ͘ ^ĞĐƵƌŝƚLJKĸĐĞƌ͕/ŶǀĞŶŝĂƐ
,ŽǁĞǀĞƌ͕ǁŚŝůƐƚƚŚĞƌĞĂƌĞƐŝŐŶŝĮĐĂŶƚĮŶĂŶĐŝĂůĂŶĚ
ƌĞƉƵƚĂƟŽŶĂů ŝŵƉůŝĐĂƟŽŶƐ ĨŽƌ ĨĂŝůŝŶŐ ƚŽ ĐŽŵƉůLJ
with the changes, it is not all doom and gloom.
Instead, rather than focusing on the burden
ŽĨ ƉƌĞƉĂƌŝŶŐ ĨŽƌ ƚŚĞ 'WZ ĂŶĚ ƚŚĞ ƉĞŶĂůƟĞƐ
associated with breaches, the new rules can be
viewed as an opportunity to enhance working
ƉƌĂĐƟĐĞƐĂŶĚƚŚĞƋƵĂůŝƚLJŽĨĚĂƚĂƐƚŽƌĞĚ͘
Compliance with the GDPR will foster
Ă ĐƵůƚƵƌĞ ŽĨ ĚĂƚĂ ĐŽŶĮĚĞŶĐĞ ĂŵŽŶŐ ĂŶ
ŽƌŐĂŶŝƐĂƟŽŶ͛Ɛ ĐůŝĞŶƚƐ ĂŶĚ ĐĂŶĚŝĚĂƚĞƐ͘
Moreover, a greater level of transparency
ĂŶĚ ĂĐĐŽƵŶƚĂďŝůŝƚLJ ĨŽƌ ŝŶĨŽƌŵĂƟŽŶ ŚĞůĚ ĂŶĚ
ƚƌĂŶƐĨĞƌƌĞĚ ǁŝůů ĞŶŚĂŶĐĞ ǁŽƌŬŝŶŐ ƉƌĂĐƟĐĞƐ͘
The GDPR is an opportunity to enhance the
quality of data held as the changes will ensure
ďƵƐŝŶĞƐƐĞƐŝŶǀĞƐƚŵŽƌĞƟŵĞŝŶƚŚŝŶŬŝŶŐĂďŽƵƚ
the data that they capture, its future use and
how it is stored and transferred. Adhering to the
'WZŝƐĂĚĞŵŽŶƐƚƌĂƟŽŶŽĨƚŚĞƋƵĂůŝƚLJŽĨLJŽƵƌ
ŽƉĞƌĂƟŽŶƐ ĂŶĚ ǁŝůů ƐƚƌĞŶŐƚŚĞŶ ƌĞůĂƟŽŶƐŚŝƉƐ
with clients and candidates through a greater
ůĞǀĞůŽĨƚƌĂŶƐƉĂƌĞŶĐLJĂŶĚŝŶĐƌĞĂƐĞĐŽŶĮĚĞŶĐĞ
that you adhere to the highest standards. In
ƚƵƌŶ͕ƚŚŝƐďƵŝůĚƐŽŶƚŚĞǀĂůƵĞƐŽĨĐŽŶĮĚĞŶƟĂůŝƚLJ
and trust that the profession prides itself on.
Partnering with the right
technology provider
ƚ /ŶǀĞŶŝĂƐ͕ ǁĞ ĂƌĞ ĐŽŵŵŝƩĞĚ ƚŽ ǁŽƌŬŝŶŐ ŝŶ
partnership with our customers to ensure
a streamlined journey to compliance. Our
ĐƵƐƚŽŵĞƌƐ ďĞŶĞĮƚ ĨƌŽŵ ĚĂƚĂ ƉƌŽƚĞĐƟŽŶ ďĞŝŶŐ
ĂƚƚŚĞŚĞĂƌƚŽĨƚŚĞĚĞƐŝŐŶ͕ďƵŝůĚĂŶĚŽƉĞƌĂƟŽŶ
of our technologies. Whilst the changes do not
ĐŽŵĞŝŶƚŽĨŽƌĐĞƵŶƟůDĂLJϮϬϭϴ͕ŝŶǀĞƐƟŶŐƟŵĞŝŶ
ƵŶĚĞƌƐƚĂŶĚŝŶŐĂŶĚƉůĂŶŶŝŶŐĨŽƌƚŚĞůĞŐĂůŝƐĂƟŽŶ
now will ensure that any required changes can
be carefully considered and that the GDPR will
ĐĂƵƐĞŵŝŶŝŵĂůĚŝƐƌƵƉƟŽŶƚŽLJŽƵƌŽƌŐĂŶŝƐĂƟŽŶ͘
&Žƌ ĂĚĚŝƟŽŶĂů ƌĞƐŽƵƌĐĞƐ ĂŶĚ ŝŶĨŽƌŵĂƟŽŶ
ƌĞůĂƟŶŐ ƚŽ ƚŚĞ 'WZ ĂŶĚ ŝƚƐ ŝŵƉĂĐƚ ŽŶ ƚŚĞ
ĞdžĞĐƵƟǀĞ ƐĞĂƌĐŚ ƉƌŽĨĞƐƐŝŽŶ
please visit www.invenias.
ĐŽŵͬŐĚƉƌ or email insight@
invenias.com.
&ŽŽƚŶŽƚĞ͗ dŚĞ ĨŽƌĞŐŽŝŶŐ
provides only an overview
ĂŶĚ ĚŽĞƐ ŶŽƚ ĐŽŶƐƟƚƵƚĞ ůĞŐĂů
ĂĚǀŝĐĞ͘ ZĞĂĚĞƌƐ ĂƌĞ ĐĂƵƟŽŶĞĚ
against making any decisions
based on this material alone.
ZĂƚŚĞƌ͕ ƐƉĞĐŝĮĐ ůĞŐĂů ĂĚǀŝĐĞ
should be obtained. „
džĞĐƵƟǀĞdĂůĞŶƚͲϰϭ
EXPERIENCE A DYNAMIC
TOPICS WILL
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Cornell’s ILR School, with its exceptional faculty of leading scholars in
management and leadership issues, is uniquely positioned to provide insights into
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• Building Trust in Client
WHAT IS NEW FOR THE 2017 Relationships

PROGRAM? • Becoming a Trusted Advisor

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participants in-depth insights and actionable practices to expand or strengthen
their leadership consulting services. The 2017 program will build on this success.
Download the registration form at aesc.org/cornell or email to Brian Glade at
bglade@aesc.org.

WHAT ARE PAST PARTICIPANTS SAYING ABOUT THE PROGRAM?

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tive Search and Leadership Consulting program was a
valuable part of my development as a search consultant
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The topics were both relevant and tangential to busi-
ness issues that I regularly confront, and the instruc-
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interact with an engaged peer group that represented
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- John Sparrow, Director, BoardWalk Consulting
“This program helped me not only to understand the
change in clients’ needs towards advice in strategic
talent analysis and management but also equipped with
all necessary knowledge and tools to add value to the
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