The Changing Face of Global Talent

A Team Capital interview with Mr David Pierce Hallahan, International Director, on the changing face of global talent.

With markets becoming increasingly intertwined, business leaders need to master an array of cultures, markets and workforce differences. What challenges do organisations currently face?

DPH: Some studies show that companies plan to increase the number of their senior executives from markets outside their domestic market by more than 30% over the next five years, whilst during this same period it is predicted that the number of executives in the 35 to 45 year age bracket will fall by 30% and scores of baby boomers will opt to retire.

Firms are engaging in a global race to capture the very best people, whilst exceptional talent is becoming scarcer and increasingly global. International experience is a distinct advantage for any candidate; it is hard to argue against the benefits of the fresh perspectives that come with such moves. The very best people are naturally drawn to the country where they will be well rewarded both financially but also where they will be stimulated by the lifestyle, culture and the underlying values they hold. In the West we are seeing a shrinking workforce- attracting high potentials on a global level will be key.

How would you characterise the future workforce?

DPH: Best in class individuals will become increasingly difficult to attract and retain. These individuals tend to have what it takes to contribute to the business and recognise the value they can bring. At the same time, their focus is more value based: What they are looking for is a real sense of purpose, authenticity, something they can set their sights on and relationships, rather than concentrating solely on a firm’s status.

What will be the longer term implications for corporate hiring strategies?

DPH: Whether we are talking about Western companies recruiting in their domestic market and in international geographies, or emerging and Western firms seeking to deploy in developing markets, real success will come from having the right person in the right job at the right time with the right skill set for the business challenge that exists. Whether at the phase of conducting a search with a truly differentiated proposition to attract top candidates or at the later stage of integrating a new employee, it’s all about the execution. Organisations must ensure that their hiring strategy and processes support the evolving aspirations of future leaders in order to succeed in what is a changing and increasingly competitive global market.

What does this mean for the board?

DPH: Research suggests that the CEO accounts for as much as 40% of an organisation’s performance. There are numerous Team Capital client cases which support these findings and the profound impact the right leader can have on the bottom line. For a global firm seeking to identify high potentials in the business or on-boarding new talent, the hiring strategy must embody strict procedures and protocols. Whether a start-up enterprise or larger company, identification, evaluation and assessment methodologies must be aligned with what the future role will look like and be conducted by individuals with the relevant training. Firms cannot allow themselves to get it wrong and decisions need to be made without any political agenda.

As part of the overall process, senior hires should be assessed on the basis of their emotional intelligence, as studies show that this accounts for as much as 31% of success in a senior management context.

What sort of changes might we see?

DPH: The changing global landscape will see companies more externally focused and with a drive for human capital strategies more consistent with attracting the very best in talent, both in local and global markets. Companies will be recruiting deeper and earlier into the business. Successful firms with the support of a trusted adviser will be in a stronger position to challenge absolutely everything and to focus on securing exceptional talent, wherever in the world it happens to be.

About Team Capital: The Power of Teamwork
Team Capital, the leading executive search firm & executive representation service provider, is an adviser of choice for top companies seeking counsel on their talent and leadership in United States, Latin America, Europe, Middle East and Africa, and Asia. The company’s Advisory & Counsel Practice provides Chairmen, Chief Executive Officers, Vice Presidents, Non-Executive directors and Senior Executives with best practice models and private representation to drive your next career move.

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