Philadelphia, PA (PRWEB) June 17, 2005
A new study by Hay Group, a global organization and human resources consulting firm, shows almost 100 percent of top Indian CEOs are concentrating on driving innovation, growth, and business results. This sets them apart from their US and European counterparts, where less than half said growth was the top priority.
According to Hay Group research, business leaders in the United Sates and Europe are concentrating on other issues such as reputation, cultural change, and succession planning.
The Hay Group Indian CEOsÂCompetencies for Success Study examined the traits, behaviors, and motives of 30 CEOs of IndiaÂs top publicly traded companies. The 18-month study was completed in 2004 to assist IndiaÂs Public Enterprise Selection Board, which is responsible for evaluating and appointing CEOs and senior executives of publicly owned companies. The study was commissioned by Bharat Petroleum Corporation Limited, one of IndiaÂs leading integrated Oil and Gas Majors.
Executives spoke in detail about both successful and frustrating experiences as leaders. The study identified four key areas that set Indian CEOs apart from outstanding top executives in other countries:
1. Growth and Innovation
2. Altruistic Business Philosophy
3. Patience and Integrity
4. Formal and Professional Workplace Relationships
Growth and Innovation: The study found that outstanding Indian CEOs consistently seek out new information, technology, and ideas to improve their businesses. Compared to their (outstanding) peers in other countries, they showed virtually no focus on internal organizational politics or personnel issues.
Altruistic Business Philosophy: Hay Group researchers found that most of the outstanding Indian CEOs told stories about working to meet the needs of the enormous middle- and lower-market segments through reliable, but inexpensive, goods and services.
ÂWe were surprised by Indian business leadersÂ extensive focus on growth and innovation, as well as the extent to which they took business risks to address societyÂs needs,Â said Tharuma Rajah, General Manager of Hay Group's Kuala Lumpur office.
Patience and Integrity: The Hay Group India Corporate Leadership Study found that the best Indian CEOs display a high level of integrity and inner strength.
ÂFortitude and resilience are critical traits for the CEOs in this business culture with our stringent government reviews, lengthy negotiation process, and tough and thorough media interviews,Â said Gaurav Lahiri, Operations Manager of Hay GroupÂs New Delhi office.
Formal and Professional Workplace Relationships: According to the study, Indian CEOs tend to keep business relationships more formal and professional than their Western peers. While showing compassion for others, these executives evaluate employees on professional attributes such as education and experience rather than on personal qualities. They also tend to avoid close relationships in the workplace.
ÂWhat executives from other cultures and countries may view as impersonal, perplexing, even contradictory behavior, senior Indian executives see as proper and necessary,Â said Mary Fontaine, Global Director of Hay GroupÂs McClelland Center for Innovation and Leadership. ÂThey see these as important traits for the success of their corporations, and also for their country and society.Â
More on the study can be found at: http://www.haygroup.com/Indian_CEO
About Hay Group
Hay Group (http://www.haygroup.com) is a global organizational and human resources consulting firm that helps its clientsÂBoards, CEOs, Executives, and HR ManagersÂon virtually all aspects of their people-related business issues. Founded in 1943, Hay Group has over 2,000 employees working from 78 offices in 77 cities and 43 countries. Our office in New Delhi, India, opened in 2004.
Our areas of expertise include:
- Design and analysis of organizations and jobs;
- Talent management through assessment, selection, and development of executives, managers, and teams;
- Compensation, benefits, and performance management;
- Executive remuneration and corporate governance; and
- Employee and customer attitude research.
Hay Group works with nearly three-quarters of FORTUNEÂs top-50 Most Admired Companies, as well as many mid-sized and non-profit corporations, public institutions, and governments.
For more information, please contact:
The Wanamaker Building, 100 Penn Square East
Philadelphia, PA 19107 USA
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