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CEO Insights Formative experiences may be key for CEO readiness

CEO candidates deemed most effective underwent the most developmental assignments, Korn Ferry data show.

They also suggest that formative experiences heavy in strategic and people demands may have greater potential to develop leaders. CEOs, compared with leaders at other levels, are more likely to have taken a wide range of developmental, career-building experiences in financial management, strategy development, and external relations (Sevy, Swisher, and Orr 2013). But within a group of highlevel executives on track to become the next CEOs, which formative experiences differentiate between the most effective and the least effective?

Korn/Ferry Chief Communications Officer - Survey Fortune 500 companies

The role of the top corporate communications officer is expanding both in scope and influence, according to the 2012 Korn/Ferry Chief Communications Officer Survey of Fortune 500 companies.

This survey conducted by the Global Corporate Affairs Practice suggests that communications executives increasingly are taking part in defining the company's strategic direction and articulating an updated corporate narrative. The responses from 148 CCOs also delved into the skill sets needed for the role, the background of CCOs, and emerging topics of concern.

Given today's volatile and hyper-competitive business landscape, corporate reputation is a dominant area of focus. Accordingly, many CCOs have taken on related responsibilities during the last two years: 42 percent have added social media; 23 percent social responsibility, philanthropy or foundation work; and 21 percent community relations.

For their broadening responsibilities CCOs are also well compensated. The survey found the median salary for a CCO approached $350,000. Including bonuses, more than 25 percent of CCOs had cash compensation above $700,000.

Cultivating 'smart growth' leaders to outpace the global economy

As another global economic slowdown provides a real-world stress test, boards are re-evaluating the type and quality of leadership and talent their businesses have on hand and how it will contribute to the short, medium and longer term success of their business. Although some industrial segments might have seemed, at first, immune to the slowdown, it is likely that a broad swath of the industrial landscape will be negatively affected this year and next.

In the latest white paper from the Korn/Ferry Institute, Peter Everaert, Scott Kingdom, and Indranil Roy introduce a framework for measuring the overall capacity of a leadership team to drive growth, even as GDP slows

Cultural Dexterity: The global talent solution

Cultural Dexterity represents an advanced approach to cultural competence required in today’s diverse global business settings. Rather than a static learning specific to only one national, ethnic, generational, or other group, Cultural Dexterity combines cultural knowledge, emotional intelligence, and interpersonal skills that can be adapted to achieve improved business results in any crosscultural situation. Developing such abilities throughout organizations, but particularly among leaders, is crucial to companies that must retain top talent around the globe, optimize team performance, and grasp the subtleties of new market segments.

The Investor Relations Officer: A 2012 survey of Fortune 500 companies

The volatile market conditions of recent years have only underscored how the battle-tested Investor Relations Officer has become indispensable in safeguarding the company's most critical and intangible asset: its reputation with shareholders and other stakeholders.

The investor relations officer: A 2012 survey of Fortune 500 companies, a biannual study done in collaboration with the National Investor Relations Institute, shows that in the Fortune 500, the IR function is continuing to expand in importance, relevance, and value. Among the highlights of this report:

More IROs have finance-related credentials: 21 percent are CPAs and 11 percent have gained or are pursuing their CFA designation. 15 percent were formerly sell-side or buy-side analysts before entering IR.
IR officers are earning more—the average cash compensation (salary plus bonus) is now $362,500. And despite tepid economic conditions, 67 percent of Fortune 500 IROs reported no reduction in any form of compensation since 2010.

The study, based on a survey of 163 IROs, also explores other facets of their backgrounds, the additional responsibilities they are taking on, the size of their departments, reporting structure, and employment agreements.

The value of human capital in the digital age

_{Digital technologies are forcing companies in every industry to rethink the way they communicate with their customers and create products or services to serve their needs. Stewarding a company into the digital era takes unique skills. Most companies are hiring someone, most commonly a Chief Digital Officer, to spearhead this change.}

_{While titles and responsibilities vary, one thing is clear – the challenges digital leaders face demand a unique skill set in order to bridge the expertise and knowledge developed in companies that are born digital with the strategic needs and management and cultural challenges of ones that must go digital. This paper outlines the leadership characteristics that are crucial for digital executives to possess, based on the Lominger framework of competencies Korn/Ferry has shown are proven to correlate with higher performance. Among the most important for digital executives: creating the new and different, communicating effectively, managing diverse relationships, and demonstrating personal flexibility.}

Tapping Asian leadership potential to win in emerging markets

Discussions about employment diversity often neglect to include Asian Americans, whose perception as a “model minority” lead many to assume they need no intentional consideration. In reality, the proportion of Asian Americans dwindles on the way to the top in most organizations. Asian Americans represent 5.6 percent of the United States population, but fewer than 3 percent of Fortune 500 CEOs and less than 2 percent of board directors.

In the latest white paper from the Korn/Ferry Institute, Tapping Asian leadership potential to win in emerging markets, Karen Huang, Hawlan Ng, and Paul Chou explain the myriad socio-cultural factors adversely affecting opportunities for Asian and Asian-American managers in Western organizations, including an over-emphasis on personal expertise, indirect style of communication, and reluctance toward risk-taking. The paper also addresses deliberate steps aspiring leaders can take to overcome any stereotypes, and what organizations must do to root out culturally biased ideas about leadership effectiveness

Growing brand equity through volatile times: Approaches to innovation

Brand-owners are facing rich opportunities to innovate, with rapidly evolving changes among consumers in developed and emerging markets and the wide adoption of new technology. To exploit these they must assess what forms of innovation complement their brand strategies and whether the organization has the right mix of talent and capability to deliver the approaches chosen. CEOs of consumer brand-owners must inspire an innovative culture from the top, and address the organizational development agenda that strengthens their chosen innovation path, if they are to sustain brand equity growth in these volatile times.

Defense Industry Leaders Who Can Dig In for the Fight Ahead -

In the face of shrinking federal budgets and shifting Pentagon priorities, defense companies and suppliers are recalibrating their businesses strategies for leaner and more competitive times ahead.
Defense Industry Leaders Who Can Dig In for the Fight Ahead, the latest white paper published by the Korn/Ferry Institute, outlines the four leadership competencies that will be crucial as the sector adjusts to an estimated $500 billion in cuts to U.S. defense spending over the next decade. The paper was co-authored by Clarke Havener, Global Leader of the aviation, aerospace and defense practice, and Aileen Alexander and Jamey Cummings, both principals in the practice.

Among the most vital needs they identified: Strategic Agility, Creativity, Managing Vision and Purpose, and Dealing with Ambiguity. Collectively, these traits describe the type of unflappable leaders who can uncover fresh opportunities, generate breakthrough strategies, and effectively articulate a new mission.

More than a 'Top Cop' -

The Art of Management

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