do we have the best CEO and leadership team?
Chicago, IL (PRWEB) October 26, 2008
The A.T. Kearney Global Business Council recently held a conference in Chicago on the topic of the Crash of 2008 with a focus on the new players, new rules, new risks and the transformation of the global economy. The conference feature numerous distinguished speakers from around the world including keynote presentation from Senators Obama and McCain.
Talent Intelilgence was invited to be a member of panel presentation on the topic of CEO succession. As the financial crisis intensifies so does the churn rate of CEOs and controversy builds over their compensation and performance the panel, which included Craig Speed, President of the Americas region for Talent Intelligence, highlighted the stakes and the price of inaction.
Craig discussed succession planning in the context of the current economic crisis facing global business with key insights in to how best practice companies address leadership risk management not just during these periods but on an ongoing basis that underpins their success. Case studies were presented on the key elements a board of directors, CEO and leadership team must pay attention to such as:
- Lack of attention by the Board and/or CEO - on the agenda but often the first item to get pushed down the priority list when the going gets tough (when in fact it should be in the top 3 agenda items in situations that are currently being experienced in the market)
- The Human Resources department - often the first area to have budgets reduced, continually fighting tactical battles, generally competent teams but lack operational business experience and leadership, continually being restructured.
- Benchmarking - little or no external benchmarking and so little or no insight in to competitors talent inventory, no sense of how the existing leadership team compares, unable to answer the question "do we have the best CEO and leadership team?"
- Lack of Transparency - no integrated view by the board and CEO on their own leadership pipeline or gaps in the bench strength. No sense of how the company would manage or een survive an unplanned crisis.
- Executive Search - outdated traditional approach, expensive, reactive, takes too long, mixed success rates, lack of transparency
- External Stakeholders - interaction and involvement in a business in today's market by analysts, regulators, shareholder groups requires greater transparency and communication of succession planning and leadership risk management
The session was well received by those business and government leaders in attendance with the general consensus being that organizations (board, CEO and leaderhip team), on the whole, needed to invest and work smarter at achieving best practice leadership risk management.
About Talent Intelligence:
Talent Intelligence is the innovator and market leader in Leadership Risk Management. Our core service offerings, that are either taken up separately or integrated in to a powerful holistic talent management solution, are:
1. CEO & Leadership Risk Management
2. Talent Growth Planning
3. Talent Due Diligence (M&A)
To deliver on the above, we apply proprietary competitive intelligence methodologies to our client's succession planning and talent management strategies so that for the very first time the Board, CEO and senior human resource team have the ability to include benchmarked external talent and related actionable intelligence against planned or unplanned changes in the structure, composition and performance of their own leadership team on a continual real-time basis.
Talent Intelligence currently has long term agreements with leading companies from the Fortune 500, ASX 100 and FTSE 100. Talent Intelligence has regional headquarters in Chicago (North America), Sydney (Australasia), Hong Kong (Asia) and London (Europe). This structure allows continuous global coverage underpinned by local market expertise.
Stephen Harvey, Chief Operating Officer
+612 438 00 1975