It’s been a few weeks since The Association of Executive Search and Leadership Consultants (AESC) inaugural Asia Pacific Conference.  

As proud members of the AESC and after having time to digest, we share insights gleaned from thought leaders around next generation talent and how, as trusted advisors, we can help leaders achieve competitive advantage in an increasingly complex business environment.

Agility

The day began with Oliver Bladek, Expert Associate Partner – Organisation of McKinsey, who spoke about how companies can stay healthy as rapid change undermines traditional sources of stability. 

There is a constant need as a company to stay agile in order for success.                

Agility in this context refers to a company that possesses both a strong backbone (stability) and dynamic capability (speed).  The main challenge stems from these two characteristics often competing with each other. 

“How do I relax some of the ‘stability’ in order to gain more speed? What areas of the business are ready to function independently – where more control is gained by sacrificing control?”

There are a common set of behaviours we see in companies (and managers) that are the most agile.  They tend to have a bias for action and are comfortable making decisions in the face of ambiguity and uncertainty.  They also believe in the free flow of information - flatter structures allowing for a stronger generation of ideas both internally and externally.

Don't Be Scared

In order to be successful, executives or managers need to operate outside of their comfort zone but before what is known as the terror zone.  It is in this zone that they are faced with adaptive challenges - problems that are important and complex but cannot be taught or learnt, requiring them to be flexible and navigate through unexplored territory.  It is in this zone that the best ideas are produced, new ways of thinking can evolve and boundaries of improvement can be consistently challenged.  

Board Talk

We were then greeted by a panel of Non-Executive Directors and leading Executive Search Executives who provided us with a deeper understanding of the issues facing executive boards today.

The main issues discussed related to the generational gap – current boards tending not to be appropriately familiar with digital technology, cyber security and new platform business models. The use of data and its security, as well as the ability to harness diverse thinking, will be key issues for boards and how to position their organisations in order to survive and thrive in disrupted industries.

It was suggested that Boards need to allow businesses to be entrepreneurial in order to encourage increased innovative and adaptive thinking through external influences. This entails both risk and opportunity so robust assessment and management of this was essential.

Diversity within boards remains an ever present factor. Diversity at the C-suite level will create a broader cross-section of role models and mentors for young talent and introduces new ideas and perspectives throughout any organisation which is essential for innovation.

Unconscious Bias

Following on from that was a discussion titled 'Cracking the Bamboo Ceiling'.  The Bamboo Ceiling refers to the bias and discrimination as a result of those with an Asian heritage.  Asia and Australia's futures are intertwined, yet a report by the Australian Diversity Council found that only 1.9% of executive managers in Australia are of Asian descent and only 3 CEO's from the ASX 200.

This is even more striking when considering that around 10% of the population in Australia is of Asian ancestry. This led to interesting discussion points surrounding what it means to be a leader and the underlying unconscious bias that is present against those from a different cultural background or gender and how we can overcome them.

Next Generation Talent

Karen Greenbaum, President and CEO of the AESC then presented new research on how AESC's global C-suite decision makers are developing and planning to develop Next Generation talent in their industries, as well as how we can distinguish ourselves within our own industry.  

Senior Executives realise there is fierce competition for top talent that can lead through uncertainty, execute enterprise-wide digital transformation, foster diversity and innovation, all while remaining relevant and competitive in the marketplace. Businesses are concerned that without immediate successors, the continuity of their mission, values and long-term objectives will not be actualized.

More than 850 business leaders rank their important reasons for building Next Generation talent in their organisations.

C-suite executives understand the importance of agile and entrepreneurial leadership that can shake up old approaches to business. They seek talent that is empathetic and combines critical thinking with an innovative mindset.

The rankings for their top desired leadership attributes of the Next Generation.

Ms Greenbaum also reiterated the notion of the trusted advisor, with clients looking for longer term relationships with search firms.  While clients still highly value 'finding and attracting executive talent', today's clients also seek other advisory services from their search partners, including leadership development, coaching, talent mapping and market intelligence.  There are many more aspects of search and recruitment where value can be added in order to properly establish ourselves a level above the competition. 

"Clients can access candidates without our help.  Maybe they cannot evaluate them as deeply as we can, but we need to offer something new.  We have to be creative, add more value beyond what companies can already do."

They want our judgement and knowledge as experts in the market – clients are becoming more and more demanding and looking to their search partners and consultants for market analysis and insights.

“Clients rely on us more for industry trends and data. Certainly, placements are a key driver, but an ear to the ground in an industry is incredibly valuable. Changes are happening every day and clients can’t stay up-to-date on everything happening everywhere.”

To clients, understanding their business and culture at a deeper level is imperative.  They are looking for someone who is more than just capable and through a proper understanding, we are able to provide someone that is compatible with the business and client.  

What Clients Want

The day was concluded by discussing what clients felt search firms could do better in today’s modern age. It was reaffirmed that understanding the business, culture and client at a deeper level is fundamental towards becoming a trusted advisor. We are engaged for our judgement and knowledge over merely placing people into positions.

This is something we at Quinton Anthony have always lived by.

Sean Kow is an Associate in the Executive Search team for Quinton Anthony, specialising in talent identification and market mapping.  Through a thorough understanding of issues and trends drawn from market insights, sector experience and extensive industry networks, Sean is committed to forming longstanding relationships with all stakeholders. 

Data provided in this post is courtesy of The Association of Executive Search and Leadership Consultants. Please visit their website for more information at https://www.aesc.org.