INAC Global appoints Cedric Schütz as the Teamlead Expert of the Chemistry Group

With a strong track record in the Chemistry field, Cedric Schütz from INAC Germany I was recently appointed as the Teamlead Expert of the network’s Chemistry Group.

Announcement was officially made during INAC Global’s 12th EMEA Regional Meeting, in Copenhagen, Denmark.

This marks the start of the development and strengthening of the Chemistry Group, allowing partners and members to collaborate in an even more efficient way, making also sure that Clients receive the most upscale services and guidance.

The Chemistry Group covers all countries and markets, guaranteeing a global reach, facilitating complex assignments, business knowledge exchange and real-time assistance.

INAC Global wishes Cedric Schütz and its team members a lot of success in this new venture.

Rui Borges – President of INAC Global and Cedric Schütz – INAC Germany I

12th INAC EMEA Reginal Meeting 2023 – Copenhagen

Hosted by INAC Denmark, the 2023 edition of our EMEA Regional Meeting took place in magical Copenhagen. Partners from all over Europe gathered for a two-day event at the Tivoli Hotel & Congress Centre, just a few minutes away from Copenhagen’s center.

Our first day kicked off with the “reintroduction” of INAC Italy, welcoming new partners that joined the INAC workgroup – a relationship that has been highly valued by INAC and its members for many years now. This was also an opportunity to showcase all the different services and projects INAC Italy has alligned for the coming years.

INAC is more than just an alliance of different members. We are focused on how we can help our members face their adversities, achieve their goals, and celebrate their successes. For this year’s edition, we took the time to listen to our partners, to learn even more about their struggles, needs and expectations – a never ending task. After conducting an internal survey, prior to our meeting, we brought many different topics to the table which resulted in an interesting and comprehensive discussion about the challenges, solutions, and best practices that our members are currently facing and implementing in their own markets, leading to solutions and best practices that may leverage everyone’s business development.

During the EMEA Regional Meeting, INAC Global also took the opportunity to officially present and launch the Chemistry Expert Group, as well as the Pharma Expert Group. With highly-specialized partners, that hold a long lasting track record in both of these areas, INAC Global offers a unique solution when it comes to advising and consulting within the Chemistry and Pharma industries.

“When does Talent beat Experience?” – a question that tends to pop up and with no definitive answer. To help us out with this topic, we had the experience and knowledge of Allan Nielsen, from Nexans Norway.
Working within a complex and multifaced industry, Allan Nielsen guided us through the hardships of an ever-evolving market, that affects Executive Search every day.
With practical examples on how to lead a diverse and global team, across multiple markets, Allan Nielsen made us think about talent vs experience, a though exercise, specially nowadays, where the workplace can be a more demanding one, and careers can change in a blink of an eye.

The end of the day was marked with an exclusive and guided visit to an extraordinary museum, the Glyptoteket where everyone enjoyed not only the beautiful indoor winter garden, but also an amazing collection of antiquities during a guided visit.
To top it all off, a typical Danish dinner made everyone wish for more.

The second and last day of our EMEA Regional Meeting was an exciting one, with a very special guest that marveled us with its knowledge on a very interesting topic: AI. Halvor Belbo Lukerstuen, from NTT DATA, guided us through the unknown of AI, exploring the topic “AI in Executive Search”, an excellent and hands-on panel that grabbed everyone’s attention, promoting a healthy discussion on how it can be used to your advantage and what to look out when dealing with recruitment processes. Members then applied what Halvor Belbo Lukerstuen thought on the topic, specilly Chat GPT, allowing us to move on to the next topic of our work agenda: reavaluating the network’s startegy and goals for the future, having in mind the questionnaire’s results.

A two-day event that resulted in some very special conclusions, with a few new guidelines on how to navigate this complex and intricate market.
A special thank you to our INAC Denmark partners for hosting such a successful and inspiring meeting.

SPOTLIGHT Chemistry #6 by INAC Germany I

Released by our partner INAC Germany I, the series “SPOTLIGHT chemistry” is designed to keep you up to date with the latest news and highlights in the chemical industry.
Each month, our Germann partner will give you all the breaking news of what happened in the last few weeks.
Don’t miss out and get exclusive insights first hand.

Deep Red Numbers
The chemical industry in Rhineland-Palatinate experiences significant declines in revenue and orders of nearly 40% in the first half of the year.
High energy costs, bureaucracy, overregulation, and a lack of production cost competitiveness contribute to plant shutdowns and investment outflows abroad.

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The “Perfect” Solution
A research group consisting of the University of Rostock, University of Magdeburg, and two other institutes has been granted 3Million Euros by the German Research Foundation for a 4-year study aimed at developing sustainable chemical reactions for fine chemicals products. The goal is to create nearly waste-free renewable manufacturing processes utilizing catalysts, solvents, and advanced membrane techniques.

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Berlin-based chemistry start-up Carbon One plans to construct a pilot facility for methanol production using an innovative process, forming a significant partnership.
The company aims to produce friendly ship fuel to alleviate pressure on shipping companies to adopt eco-friendly fuels.

***

Focus on Innovation
In the first half of 2023, the speciality chemical corporation ALANTA recorded an 11% decrease in revenue to 1.393 Billion Euros due to decreased demand and high material costs amidst economic downturn.
Nonetheless, the company increased investments by 52%, elevated research and development spending by 52%, and announced the second-largest acquisition in its history, the acquisition of Von Roll Holding AG.

***

BASF has doubled its production capacity for water-soluble dispersing agents in Turkey to better support customers in EMEA in the detergent, cleaning, and chemical industries. The additional capacities will be available from the third quarter of 2023, following the capacity expansion at Ludwigshafen site in 2020.

***

Sarena Lin, former Chief Talent Officer and Labor Director at Bayer, unexpectedly departs the company at the end of August after holding her position for two and a half years. Neither Lin nor Bayer disclosed the specific reason for her departure, but it is speculated that changes in corporate leadership under new CEO Bill Anderson may have played a role.

SPOTLIGHT Chemistry #6 by INAC Germany I

Performance Review Issues

Is your company still conducting annual performance reviews? If so, are they also conducting routine check-ins throughout the year or providing continuous feedback? Are there action items and next steps that you can take to work towards your goals? With remote and hybrid work arrangements and new generations with new expectations, employees want to know how they’re doing and how to improve.

According to SHRM, a survey done by Workhuman showed that 49% of companies provide annual or semi-annual work reviews, 7% don’t provide any type of review, and 28% have quarterly reviews. Gallup research has shown that 95% of managers are not believers in their company’s review system and less than 20% are motivated by their reviews. Unengaged employees could be costing US companies more than $1.5 trillion annually.

This is an issue that has been around for decades, likely since the performance review was invented. Millennials and Gen Z however are two generations that are more focused on their personal growth and pushing for more productive performance review methodologies.

Historically, performance reviews were focused on your work over the past year, looking backward. They are also forward-looking today, including career development opportunities like upskilling and reskilling, employee engagement, and if needs are being met to be productive.

Marcus Buckingham of ADP Research Institute says, “Every single human alive today is a horribly unreliable rater of other human beings.” His belief is rooted in unconscious biases we have or, as he calls it, idiosyncratic rating effect. The way managers rate is a stronger reflection of themselves than it is of the employee.

It doesn’t help that the majority of roles do not have quantifiable outcomes, especially through the lens of competence or talent. Buckingham adds, “I’m going to rate you on a theoretical construct like ‘strategic thinking’? Everybody knows that’s rubbish.” While this data may be inaccurate, it’s easier than helping managers improve their skills. “Because we don’t educate our managers on how to have some of these conversations, we’ve decided that the solution is to give them really bad ratings systems or really bad categorization systems.” Don’t expect data to go anywhere anytime soon. “Data driven” decision making has become a buzzy way to imply that decisions are based on facts that can optimize performance.

SHRM provides tips to improve the performance review process, for more detail on each step, you can visit the article.

  • Don’t limit conversations to once or twice per year
  • Set performance goals and expectations at the beginning of the year
  • Explain how their position and department fit into the company’s overall ­strategy
  • Simplify the process
  • Consider a 360-degree approach
  • Eliminate proximity bias
  • End recency bias
  • Solicit feedback from employees
  • Don’t discuss compensation during reviews

Getting performance reviews right should also take into account your organizational culture. Are employees measured on how they align with the company’s core values? And are employees who are not embracing core values being held accountable for their behaviors? If not, it might be time to talk with Human Resources about how this aspect can be added to the review process.

Article by INAC USA

Transforming Leadership Skills for a New Teamwork Dynamics

In a constantly changing work world, leaders face increasingly complex and diverse challenges. Teamwork dynamics have evolved, especially with the growing digitalization and geographic dispersion of teams, which is causing leaders to develop new leadership skills and transform traditional ones to adapt and to effectively guide their teams. As an analogy, we could say that practically… “if you knew how to play chess, now you have to know how to play Chinese checkers, and if you knew how to play Chinese checkers, you have to know how to play chess.” This means that while chess requires complex strategy and long-term vision, Chinese checkers is based on agility, adaptability, and the ability to make decisions in a changing environment. It is this combination that leaders should strive for.

In this respect, for example, leaders who previously focused on long-term strategic planning and hierarchical decision-making must now be able to quickly adapt, manage uncertainty, and drive collaborative work in their dispersed teams. For this reason, the development and transformation of their leadership skills involve leading through change with flexibility and adopting more agile approaches, fostering creativity and continuous learning, as well as being able to communicate effectively and assertively, promoting virtual collaboration, making data-driven decisions, creating an environment to boost innovation and experimentation, and leveraging digital technologies to drive team performance and, consequently, organizational performance.

Indeed, McKinsey Global Institute reported that 85% of companies consider digital transformation a strategic priority, and only 16% feel fully prepared to lead in a digital environment.

Key Skills for Leading in Changing Environments

To adapt to this new dynamic, leaders must develop and transform specific leadership skills to enable effective leadership in current environment. Below are some of these skills and their importance in guiding teams through uncertainty and constant transformation:

Adaptative Leadership:

94% of executives consider adaptive leadership a critical skill for the success of an organization in a constantly changing business environment. (Source: Deloitte)

Resilience:

Resilient leaders are 72% more likely to be highly engaged in their work and positively influence their teams’ engagement. (Source: Gallup)

Change Leadership:

96% of leaders consider the ability to lead through change essential for achieving desired results in transformation projects. (Source: Prosci)

Managing Dispersed Teams:

77% of employees consider workplace flexibility, including the option to work remotely, improves job satisfaction and talent retention. (Source: Owl Labs)

Strategic Thinking:

97% of leaders consider strategic thinking fundamental to the long-term success of an organization, especially in a constantly changing business environment. (Source: Harvard Business Review)

The Skill of Managing Dispersed Teams

42% of leaders feel unprepared to effectively manage dispersed teams (Source: Owl Labs)

For this reason, we want to give special attention to managing dispersed teams as a leadership skill. Managing dispersed teams requires a combination of leadership skills, effective and assertive communication, and proper use of technological tools. By setting clear expectations, fostering trust and collaboration, and using appropriate tools, leaders can maximize the productivity and engagement of their dispersed teams, enabling them to achieve success in any project they undertake.

Furthermore, it is important to remember that each team and situation can be unique, so it is crucial to adapt management strategies to the specific needs of the dispersed team. Flexibility and continuous learning are key to constantly assessing and adjusting management practices.

Additionally, it is advisable to strike a balance between autonomy and responsibility. Members of dispersed teams need to have a certain level of autonomy to effectively perform their work, but they also need to be accountable for meeting established goals and expectations.

Finally, we must not overlook the importance of recognizing and celebrating individual and collective achievements. Although team members may be physically separated, it is essential to recognize and value their contributions, in order to maintain high levels of motivation and engagement.

In summary, managing dispersed teams requires a combination of effective communication, trust, collaboration, the use of appropriate technological tools, and adaptability. By implementing these practices, leaders can establish a collaborative and productive work environment, maximize the potential of their dispersed teams, and achieve successful outcomes.

Business Opportunities Arising from the New Work/Teamwork Dynamics

The new forms of work and teamwork dynamics have opened up various business opportunities. Here are some of them:

  1. Collaboration and Communication Tools:  With the increase in remote work and dispersed teams, there is a growing demand for online collaboration and communication tools and platforms. These solutions include business messaging applications, project management tools, video conferencing systems, and file-sharing platforms. Companies that develop and offer these tools have the opportunity to meet this growing demand.
  2. Remote work consulting services: Many organizations need to adapt to the transition to remote work and require expert guidance to implement new policies and practices. Consulting firms specializing in remote work can offer advisory services in implementing remote work policies, establishing dispersed teams, and optimizing productivity in virtual environments.
  3. Online learning platforms: Remote work and virtual teamwork dynamics have driven the demand for online training and education. Companies that offer online learning platforms, virtual courses, and remote training programs can capitalize on these business opportunities.
  4. Change management services: The shift towards new forms of work and teamwork dynamics can be challenging for some organizations. Companies providing change management services can help businesses effectively implement new work approaches by providing support in the transition, training, and facilitating the adoption of new practices.
  5. Coworking spaces and virtual offices: Although remote work is becoming more common, there are still professionals and companies that need occasional physical workspace. Coworking spaces and virtual offices offer the flexibility of having a physical work environment when needed, providing services such as meeting rooms, administrative support, and access to a network of professionals.
  6. Well-being and work-life balance services: Remote work and new forms of work have highlighted the importance of well-being and work-life balance or integration. Companies can seize this opportunity by offering online well-being services such as exercise programs, meditation, and mental health counseling, as well as flexible work hours and work-life balance policies.

Impact of the New Work/Teamwork Dynamics on Global Executive Search Business

The new forms of work and teamwork dynamics have had a significant impact on Global Executive Search services. Some of the key impacts include:

  1. Remote Work and Global Talent Pool: The rise of remote work has expanded the talent pool available for executive search firms. With remote work becoming more prevalent, executives can be considered for positions regardless of their geographic location. This opens up opportunities to access diverse talent from around the world, allowing executive search firms to identify the best candidates for their clients, irrespective of geographical constraints.
  2. Virtual Recruitment and Assessment: The shift to virtual work has required a transition to virtual recruitment and assessment processes. Executive search firms have had to adapt their methods and utilize video conferencing tools and virtual assessment platforms to conduct interviews, assessments, and evaluations. This virtual approach enables efficient and effective talent evaluation while reducing time and costs associated with travel.  Besides, lets identify candidates’ technical, leadership and communication skills in a virtual environment.
  3. Digital Networking and Candidate Sourcing: The digital transformation has revolutionized networking and candidate sourcing for executive search firms. Online professional platforms and social media have become crucial sources for identifying potential candidates and building professional networks. Executive search firms are leveraging these digital platforms to connect with executives, assess their profiles, and proactively reach out to individuals who fit their clients’ requirements.
  4. Flexibility and Adaptability: The new work/teamwork dynamics have highlighted the importance of flexibility and adaptability in executive search. Firms need to be agile in responding to changing client needs and evolving market conditions. They must adapt their search strategies and methodologies to find executives who can thrive in remote work environments, collaborate effectively in virtual teams, and navigate the complexities of a digital-first business landscape.
  5. Emphasis on Digital Skills and Leadership Competencies: With the increased reliance on digital tools and technologies, executive search firms are placing a greater emphasis on identifying candidates with strong digital skills and leadership competencies in managing virtuality. Executives who can leverage technology, drive digital transformation, and effectively lead remote teams are in high demand.
  6. Enhanced Communication and Collaboration: Effective communication and collaboration have become even more crucial in the new work/teamwork dynamics. Executive search firms must ensure seamless communication with clients, candidates, and internal teams despite physical distance. Leveraging virtual communication tools and platforms enables efficient collaboration, real-time updates, and effective decision-making.
  7. Change Management Expertise: As organizations navigate the transition to new work dynamics, executive search firms with expertise in change management have a competitive advantage. They can guide clients in implementing successful change initiatives, selecting leaders who have the ability to navigate uncertainty, drive organizational transformation, and build agile and resilient teams.

In summary, the new forms of work and teamwork dynamics are bringing significant changes to Global Executive Search services. The services now need to adapt to virtuality, access global talent, seek flexible and adaptable leaders, assess virtual competencies, and provide support in change management. By doing so, they can meet the changing needs of the organizations and help them find the perfect fit talent to lead in the current work environment.

Article by:
Marcela D’Alessio – INAC Peru
Debra Young – INAC USA
Tessa Trinh – INAC Germany I
Anikó Soós – INAC Hungary

ESG, the foundation for a future sustainable workforce and talent attraction

Environmental, Social, and Governance (ESG) concerns have become key elements in business decision-making. These criteria not only affect a company’s reputation, but also play a fundamental role in attracting and retaining talent, as well as in shaping the company’s culture and employee engagement.

Companies have begun to adopt ESG strategies, policies, and practices, committing to integrate environmental and social considerations into their decision-making and operations, as well as striving to implement strong corporate governance practices. This involves, for example, reducing carbon emissions, responsible management of natural resources, promoting diversity and inclusion at work, ensuring employee safety and well-being, protecting human rights in the supply chain, and transparency in corporate communication.

In this context, companies are not only meeting the expectations of their various stakeholders, but also laying the groundwork for a sustainable workforce and talent attraction.

ESG policies and their influence on organizational culture and employee engagement

ESG policies influence organizational culture through the promotion of ethical values. By adopting and implementing ESG policies, companies commit to integrate ethical and responsible considerations into their decision-making and daily operations. This translates into an organizational culture that values integrity, social responsibility, and respect for the natural environment. Employees feel motivated and proud to work for a company that promotes these values and ethical principles, which in turn contributes to higher employee engagement and job satisfaction.

On the other hand, when companies are transparent about their actions, goals, and results regarding the ESG, they build trust and strengthen the bond between employees and the organization. Employees value the honesty and openness of the company and feel more engaged when they have access to relevant and up-to-date information about the company’s ESG practices and performance. Additionally, transparency allows employees to understand the impact that their work has on society and the environment, which increases their sense of purpose and belonging, and contributes to greater commitment.

Furthermore, ESG foster a culture of collaboration, inclusion, and responsibility within the organization. For example, by implementing diversity and inclusion programs, companies promote a work environment where all voices and perspectives are valued. This not only strengthens the organizational culture, but also boost innovation and creativity by leveraging the diversity of ideas and experiences. Similarly, corporate social responsibility initiatives such as corporate volunteering and social investment projects involve employees in activities that go beyond their daily work and provide them with an opportunity to make a positive difference in society. These practices encourage a sense of responsibility and pride in employees and reinforce their commitment to the company and its values.

The Impact of ESG on Attraction and Retention

ESG policies also play an important role in attracting and retaining talent. In a highly competitive job market, talented candidates seek not only employers who share their values and commitment to sustainability, but also jobs that allow them to make a difference and contribute to a positive impact in the world. Companies that adopt strong ESG practices become more attractive to these candidates. By demonstrating a genuine commitment to ESG policies, companies create a differentiated and solid employer brand.

On the other side, effective communication and promotion of ESG policies are essential for attracting top talent. Companies must effectively communicate their ESG practices and commitments in their recruitment strategies and as part of their employee value proposition and employer brand. By proactively showcasing their ESG approach, companies generate trust in candidates and demonstrate their commitment to corporate responsibility. Additionally, it is crucial to highlight how employees can also contribute and participate in the company’s ESG initiatives, providing candidates with a clear idea of how they can make a difference in their work.

A company’s sustainable reputation also influences employees committed to sustainability. Employees who care about ESG issues seek organizations that reflect their values. When a company has a strong reputation in terms of ESG practices, it creates a work environment that attracts and retains committed employees. These employees feel proud to be part of a company with a purpose beyond financial results, which increases their engagement, job satisfaction, and motivation. This, in turn, reduces turnover rate and the costs associated with hiring and training new employees.

Overall, ESG policies are not only important for attracting talent, but also influence employee loyalty and retention.

The Impact of ESG on Younger Generations

The younger generations, mainly composed of millennials and centennials, have brought about a significant shift in how work and corporate responsibility are perceived. Their constant exposure to global challenges has awakened their awareness and sensitivity to environmental and social issues. As a result, they are highly committed to environmental and social issues, seek purpose in life, and are more willing to support and work in companies that share their values and concerns while they have the opportunity to contribute to positive change in society. ESG becomes a key factor for them to evaluate the authenticity and commitment of a company to social and environmental impact.

Furthermore, these generations thoroughly research companies before making employment decisions, and ESG has become an essential criterion in their evaluation. Companies that do not demonstrate a genuine commitment to ESG may struggle to attract and retain top talent and may harm their reputation.

In summary, younger generations’ interest on ESG is driving a transformation in the business world. Companies are responding to this demand by adopting ESG strategies and practices to stay relevant and attractive. They are integrating environmental and social considerations into their decision-making, setting sustainability goals, and promoting diversity and inclusion in the workplace, which also allows them to drive innovation and long-term profitability.

Business opportunities that could arise from ESG

Global investment in environmental initiatives has been steadily increasing as awareness of climate change and environmental issues grows. Investments are being made in renewable energy, energy efficiency, sustainable agriculture, conservation and biodiversity, clean technology, and climate change adaptation. These investments aim to mitigate the impact of human activities on the environment, promote sustainable practices, and develop innovative solutions. While the level of investment varies across countries and regions, the overall trend reflects a growing recognition of the importance of investing in a greener and more sustainable future.
In this sense, ESG provide several business opportunities for us as a Global Executive Search network. Some of them include:

  1. Search for ESG committed leaders:
    The focus on ESG is increasing at all levels of leadership, and companies are seeking executives who are committed to sustainability and social responsibility. We can leverage this trend by specializing in identifying and selecting leaders with experience and knowledge in ESG. By providing highly qualified candidates committed to ESG, we can meet the needs of our clients and help them build executive teams aligned with their values and sustainability goals.
  2. Strategic ESG advisory and consulting services:
    We can offer strategic advisory and consulting services to our clients in the field of ESG. This involves helping organizations understand and address challenges related to the environment, social responsibility, and corporate governance. We can provide insights into best practices in ESG, assist in developing effective ESG policies and strategies, and guide our clients in the successful implementation of these practices in their operations, organizational culture and workforce building.
  3. Building ESG networks:
    We can build a strong network and establish relationships with leaders and experts in sustainability and corporate responsibility (i.e. NG0s, investors, ESG experts, sustainability leaders, etc.). This allows us to stay informed about the latest trends, research, and opportunities related to ESG. In turn, we can share this network with our clients and connect them with professionals and prominent leaders in the field of ESG, enhancing their ability to develop robust strategies and access talent committed to sustainability, while also strengthening our relationships with our clients (loyalty).
  4. Market differentiation:
    We can differentiate and position ourselves as a strategic partner for companies seeking leadership committed to sustainability. By promoting our capabilities and experience in executive search and ESG advisory and consulting services, we can attract clients who value the importance of integrating sustainability into their business strategy. This differentiation can set us apart from the competition and generate new business opportunities.

ESG impact on Global Executive Search business

The increasing global investment in environmental initiatives presents a significant opportunity for the executive search industry. There is a growing demand for executives with sustainability, renewable energy, and environmental management expertise. Executive search firms can specialize in recruiting top talent for these roles, connecting organizations with individuals who can drive their sustainability agendas. They can also provide market insights and intelligence, helping companies navigate the evolving environmental sector. By identifying and placing skilled executives, the executive search industry can contribute to the success of environmental initiatives and the advancement of sustainable business practices.
In this respect, ESG (Environmental, Social, and Governance) has a significant impact on Global Executive Search in various ways:

  1. Changing hiring needs:
    As long as sustainability and corporate responsibility become priorities for organizations, the demand for executive leaders with experience and knowledge in ESG will increase. Companies will be seeking CEOs and senior leaders who can guide the implementation of sustainable practices, promote diversity and inclusion, and manage environmental and social risks and compliance. As a result, we must adapt to these new needs and focus on identifying candidates with ESG competencies.
  2. Evaluating executives in ESG:
    We will need to develop a more comprehensive approach in evaluating executive leaders in terms of their ESG skills and experience. This involves examining not only their financial achievements, but also their ability to promote an ethical corporate culture, their commitment to sustainability, and their ability to address social and environmental challenges. It is crucial to assess leaders’ ability to drive the transformation towards a more sustainable organization.
  3. Growing ESG market:
    More and more companies are adopting ESG practices and seeking both suppliers and talent that align with these values. This represents an opportunity to have ESG practices as Global Executive Search network, expand our client portfolio and offer specialized talent search services in ESG. By focusing on selecting talent that meets ESG criteria, we can capitalize on this growing demand and generate new business opportunities.
  4. Differentiation and influence on business transformation:
    By providing our clients with committed talent that values and has experience in ESG, we can influence their business transformation towards more sustainable and responsible practices, creating an organizational culture based on ethics, sustainability, and social responsibility. This, in turn, can contribute to improving their ESG performance, differentiate them in the market, and strengthen their reputation.

In conclusion, ESG presents valuable opportunities for our Global Executive Search network, from the search for ESG committed leaders to strategic advisory and consulting services, network building, and market differentiation. We can also provide added value to our clients and contribute to their success in integrating responsible and sustainable business practices.

KEY STATISTICS

  • According to a report by Deloitte, 76% of millennials consider sustainable practices as an important factor when choosing an employer. Additionally, 90% of Generation Z states that it is important to work for a company that promotes ethical values.
  • According to a survey conducted by LinkedIn, 73% of professionals considered having a purposeful job is important for their job satisfaction. Furthermore, a study by consulting firm PwC revealed that 79% of millennials are willing to commit more to their employer when they feel their work has a positive impact on society.
  • According to a survey by Cone Communications, 76% of Generation Z and 69% of millennial employees thoroughly research companies before accepting a job. They seek information about a company’s sustainability practices, social responsibility, and commitment to ESG issues.
  • Additionally, a report by human resources consulting firm Randstad revealed that 58% of Generation Z employees and 56% of millennials consider a company’s ethical and social reputation an important factor when choosing an employer.
  • According to a report by Deloitte, 87% of executives believe that a strong focus on ESG issues has a positive impact on their company’s reputation and helps attract and retain talented employees.
  • A Harvard Business Review study found that companies with high levels of sustainability have 55% less employee turnover than those with poor sustainability practices.
  • According to a survey by Russell Reynolds Associates, 79% of executives consider sustainability an important issue for their company’s long-term success. Additionally, 88% of executives expect sustainability to be integrated into their business strategy and operations in the next five years.

These statistics demonstrate the growing importance of ESG in strategic decision-making and the demand for executive leaders with sustainability experience.

  • According to a report by Heidrick & Struggles, 63% of global investors consider sustainability a key factor in their investment decisions.

This implies that companies must demonstrate a strong commitment to ESG to attract investments and ensure long-term growth. Global Executive Search plays a crucial role in identifying executive leaders with sustainability experience to meet investor expectations.

  • According to a survey by Egon Zehnder, 80% of executives surveyed believe that diversity and inclusion are fundamental to business success. Additionally, 66% believe that sustainability and social responsibility are important factors in consumer decision-making.

These statistics demonstrate how ESG has become an essential aspect for company competitiveness and reputation, requiring executive leaders with knowledge and experience in these areas.

  • McKinsey, March 2023, Climate technology is getting a further boost from unprecedented government programs in the United States and Europe that will unleash a flood of capital to meet the challenge of achieving net-zero emission commitments by 2050. The US Inflation Reduction Act (IRA), passed last year, allocates more than $370 billion in funding to mitigate climate change, while the EU Green Deal could potentially dedicate more than €1 trillion in public and private funds to the fight. Together, these measures may open up more opportunities for investors in a market that could reach $9 trillion to $12 trillion in annual investment by 2030.

Article by:

Rui Borges – INAC Portugal
René Johnson – INAC Australia
Roger Johnston – INAC UK
Karla Alfaro – INAC Mexico

INAC UK | CEO Review

While 2022 was typified by a rush for talent as the rebound from Covid drove rapid restocking, 2023 heralded a shift in mindset as a result of rampant inflation, economic uncertainty and a slowing economy. While underlying skills shortages continue to exist and questions remain over the depth of bench-strength across many businesses, caution has returned with a redoubling of efforts to understand what talent and potential truly resides within their business while only hiring key, critical skills for the future in the external market.

Different sectors are grappling with different challenges, whether that be the need for greater customer centricity within logistics and transportation or long-term sector-wide technical skills shortages in the nuclear and defence markets. What is clear is the need to think differently about
the skills challenges in front of each organisation with the status quo unable to deliver in the current environment. Creative and agile approaches to talent acquisition are being sought and the need for clear attraction and retention strategies are becoming increasingly important as candidates continue to retain much of the power. While the environment may be changing, underlying skills shortages and a technological evolution will continue to drive the need to identify and entice top talent who may be happily embedded in their existing roles.

Diversity also remains a top priority for many organisations, not just in terms of gender or race, both of which maintain a focus, but also in term of neurodiversity and a true diversity of thought to create truly high performing teams. In many sectors this diversity can be a real challenge due to embedded cultures and a perceived lack of diverse talent therein. In these circumstances, enlightened leaders are looking beyond the obvious and seeking fresh talent from out-of-sector based on true leadership behaviours rather than just experience in sector. Where this is not possible, leaders are looking for hidden gems within their organisation and ensuring that strategic plans are in place for succession planning to retain and develop diverse talent from within.

Candidates have also evolved their thinking and are much more often seeking opportunities to work with a business where not only is the cultural fit so important but also who they will directly be working for. Leaders today need to be able to set a clear vision for their organisation but also show how each and every candidate has a part to part in achieving that success. Where IQ was a key factor in leadership this has evolved to EQ and KQ with leaders demonstrating empathy and authenticity. Leadership of the past would struggle in today’s environment and therefore the role of caching and development has taken an even greater position in many businesses’ approach to leadership development.

We at Holmes Noble have not just witnessed these changes but have been actively supporting our clients in developing solutions to these challenges each and every day. Whether that be talent assessment to understand that true capability of the existing organisation, enabling transformation programmes or developing new market entry requirements, we are partnering with our clients to extract the most from both their existing and potential talent pools to deliver their strategies globally.

I welcome this opportunity to share with you a brief snapshot of our views and successes throughout the first half of 2023 and look forward to supporting our clients, new and old, throughout the rest of the year and beyond.

Amy Speake – INAC UK

Interview “HeadHunter Germany” by INAC Brazil

Rcently interviewed by INAC Brazil on their series “Headhunter”, INAC Germany’s partner, Cedric Schütz, talked about the market and the relationship of executive selections within the Brazilian market.

Which industry-sectors are growing the strongest in Germany and which positions are currently in particularly high demand?

Germany is experiencing significant growth in sectors such as Chemistry/Pharma, Renewable Energy, Sustainable Mobility, E-Commerce, and Fintech. These industries contribute to economic development and innovation. German pharmaceutical companies are renowned for their research and development, while the country leads the global transition to renewable energy sources. Sustainable mobility solutions, such as electric vehicles, are actively promoted, and Germany has seen substantial growth in e-commerce, with a strong logistics infrastructure. The Fintech sector has also experienced remarkable growth, attracting international investments and positioning Germany as a hub for innovation. These sectors drive economic growth and address global challenges, shaping Germany’s future.
In these expanding sectors, there is a high demand for professionals with expertise in various areas. Research and development, engineering, digital marketing, data analytics, and specialized knowledge related to each sector are particularly sought after. In Renewable Energy, professionals specializing in energy storage technologies, grid integration, and smart grid management are needed. Sustainable Mobility requires engineers specializing in electric vehicle design, battery technology, and charging infrastructure. Professionals experienced in sustainable supply chain management and logistics are also in demand. In the Chemistry/Pharma sector, skilled technicians and engineers specialized in pharmaceutical manufacturing processes and quality control or regulatory are essential. These sectors offer exciting opportunities for individuals with diverse skill sets to contribute to Germany’s growth and innovation.

Do your clients open opportunities to executives from South America, especially Brazil?

Yes, absolutely! In recent years, German companies and clients have shown openness to attracting talents and executives from South America. Especially Brazil plays an important role within. The cultural similarities between Germany and Brazil make it easier for professionals to integrate into German organizations. This exchange benefits both parties, with German companies gaining new perspectives and market knowledge while Brazilian professionals gain international experience and career growth opportunities. The collaboration fosters innovation and market expansion. The ongoing partnership between Germany and Brazil exemplifies the global nature of talent acquisition and the potential for mutually beneficial relationships in today’s interconnected world. Our clients value the diverse perspectives and experiences that executives bring along and actively promote an inclusive culture that values different backgrounds and viewpoints. This enables executives to feel valued and empowered to contribute their unique expertise to drive business growth.

What characteristics and qualities do managers from Brazil have to bring with them in order to be successful in Germany?

Managers from Brazil who aspire to succeed in Germany should possess specific qualities to adapt to the German business environment and effectively lead their teams. From my perspective there are crucial characteristics and traits for being successful: Being open-minded, flexible, and understanding German cultural nuances, such as hierarchy and punctuality. In terms of leadership skills, one should emphasize collaboration, empowerment, and accountability to inspire and motivate teams, build relationships, and foster a positive work culture. Problem-solving and decision-making abilities as well as an adaptability to change are also crucial factors. Being resilient, open to new ideas, receptive to feedback, and quickly adapting strategies to meet evolving market demands are on the course! By embodying all these qualities, related to a great business acumen, it makes it more likely for foreign executives to enhance their chances of success in Germany.

As a headhunter, what advice would you give to a Brazilian executive within the recruitment process?

As a German headhunter, there are some recommendations I would make. First of all, familiarize yourself with the specific dynamics and requirements of the German job market. Research the industries and companies that interest you and gain insights into their expectations and hiring practices. Based on that research adapt and tailor your resume (no cover letter needed) to align with the German business context. Highlight your relevant skills and achievements that are applicable to the positions you are targeting. While English proficiency is essential, consider investing some time in learning basic German words as “Guten Tag” or “Vielen Dank” and use it as an “Ice-Breaker” 😉. Demonstrating language skills can significantly enhance your chances of success and show your commitment and interest of the local conditions. During an interview with HR or Hiring Managers you shout focus and emphasize the value of your international experience and highlight how your background can bring a unique perspective and value to the company’s success in a globalized business environment. Prepare examples of how you have successfully addressed challenges or achieved results in previous roles. But not only address challenges, also talk about daily situations from your everyday life as a manager. Emphasizing collaboration, empowerment, and effective team management and to demonstrate your ability to work well in diverse teams and foster a positive work culture is crucial. Highlight your commitment to continuous learning and professional development. If needed discuss relevant trainings, certifications, or courses you have completed to enhance your skills and stay updated in your field but always keep an eye on your interview partner. Intermediate questions such as “Should I elaborate on this” or “Do you need more information on this training/activity” are welcome.

At the end it is all about patience and persistence. Don’t be disappointed if the recruitment process takes time. Stay positive, maintain a proactive approach, and pursuing your career goals.

The Impact of Augmented and Virtual Reality on Business and Executive Search

Augmented Reality (AR) and Virtual Reality (VR) technologies are revolutionizing the business world. In recent years, AR and VR have become increasingly popular, with widespread use in numerous industries. These technologies have the potential to disrupt the business landscape, change how people work, and provide unique business opportunities. AR and VR are expected to have a significant impact on executive search by enabling the delivery of in-depth candidate insights and facilitating remote interviews with global talent. This essay will explore the possibilities and implications of AR and VR technologies for business and executive search.

AR and VR Technologies

AR and VR are technology-based systems that create simulated environments. AR overlays digital information onto reality, providing an enhanced version of the real world. In contrast, VR creates an entirely artificial experience that can be immersive and interactive. Both technologies offer new ways for businesses to communicate and interact with their target audience.

Business Opportunities

AR and VR technologies have numerous business applications. The ability to create interactive and immersive experiences can help businesses to engage with their customers and enhance brand loyalty. Retail companies have already begun to use AR to help customers virtually try out clothing and for home furnishing, allowing them to envision items in their space. Companies can also use these technologies to train employees, thereby reducing costs and improving productivity.

In executive search, AR and VR can be utilized in various ways to improve hiring processes, such as virtual interviews. These technologies can enable businesses to engage with talent from across the globe easily. AR and VR can improve selection techniques by providing access to detailed insights into candidate performance, capabilities, and experience. Additionally, it provides candidate assessment beyond the traditional paper application or online CVs. AR and VR can provide recruiters the opportunity of better candidate fitment for specific cultures, hiring teams and business needs.

Moreover, AR and VR can help organizations attract the best talent. Potential employees are more likely to accept a role if they feel connected and engaged with the company’s culture. AR and VR technologies can create a realistic and engaging portrayal of the working environment, helping potential candidates understand what it is like to work at a particular company. By providing insight on company values, work style, and leadership teams, AR and VR can help businesses attract candidates that better align with their values.

Impact on the Executive Search Business

AR and VR technologies are disruptive and can transform the executive search sector. The real-time data feedback and candidate insights that AR and VR offers are of immeasurable benefit to those looking to recruit the best talents. This advantage is not limited to companies that make use of the technology. Recruiters can learn a lot about candidates from how they interact with systems during an AR/VR interview. This offers a unique interview experience that can provide valuable insights into a candidate’s mindset and how they handle complex and challenging situations.

AR and VR are cost-effective technologies that can reduce the overall cost of the search process, making it more accessible to organizations of all sizes. Additionally, they provide flexibility for remote working; thus, the technology is essential for companies looking to increase flexibility and reduce costs through remote interviewing.

However, the emergence of AR and VR technologies will require significant investment in training and skill development, specifically for recruiters. Recruiters need to be trained and equipped with the skills necessary to use AR and VR technologies competently and effectively. Additionally, the use of AR and VR in executive search may require a re-alignment of company and recruiter values towards a more technological focus to benefit from employing the technology effectively.

Conclusion

AR and VR technologies represent a new frontier for businesses spanning many industries. Both of them offer business opportunities and superior insights into the search for candidates. The recruitment process is evolving and the implementation of AR and VR technologies can improve the journey significantly. AR and VR technologies have undeniably opened up new possibilities for remote interview processes and hiring techniques, facilitating access to global talent and enabling effective virtual access to the best talents at affordable costs. However, the success of AR/VR technologies in executive search highly depends on realigning certain values and investments in the necessary training for recruiters. Therefore, organizations must understand the potential of AR and VR technologies and invest appropriately to reap the benefits of modern, cutting-edge recruitment processes.

Article by:
Morten Tange – INAC Denmark
Mariana Turanova – INAC Slovakia
Géraldine de Spéville  – INAC France
Kirsten Parus – INAC USA

Interview: Brain drain makes work of headhunters more difficult in Slovakia

Klemens Wersonig, partner of INAC Slovakia was recently interviewed by “The Slovak Spektator”, where he spoke about the impacts of the pandemic, AI and the differences between Slovak and foreign managers when searching for the ideal candidate.

Finding candidates takes longer, with fewer available.

Society in general must become more flexible, given the shortage of talents the world is facing, says Klemens Wersonig, CEO of Target Executive Search CEE, referring both to the age of potential candidates and their plans to remain with one company.

“We recently placed a lady over 60 into a top managerial position. A few years ago, this would have been impossible,” said Wersonig, welcoming this flexibility. “These trends will continue.”

Accepting candidates of higher ages should no longer be an issue. Another topic concerning flexibility is loyalty within companies. While 10 years ago Target’s clients looked to hire somebody who would stay at least five years, following the pandemic and subsequent crises they are satisfied if somebody says they will stay for two years.

The Slovak Spectator spoke with Wersonig about the impacts of the Covid pandemic on headhunting, differences between Slovak and foreign managers, as well as what tasks artificial intelligence can perform in filling positions.

What are the main differences between a recruitment agency and an executive search firm?

I would call it the social media trap. This means that recruitment companies are relying on social media only. This means that they reach only people who can be found on LinkedIn or Facebook. Headhunting companies typically go beyond that. They aim to identify people who are maybe too busy to be active on social media. For example, I know some managers who could be candidates for possible positions and they say that they check LinkedIn maybe once per quarter because they are just too busy.

Which assignments are suitable for a recruitment agency and which are better performed by an executive search firm?

The general trend is that executive search firms are going down to lower levels in the market and they are looking for positions and projects which they would not have looked at five years ago. The reason is that the qualified labour force became so scarce on all levels. Companies often cannot find an account manager or some specialist just by simply advertising the post, as either no people apply or the wrong people apply. Therefore the trend is that headhunting is needed at lower levels.

What challenge does the shortage of qualified labour on the market pose to headhunters?

It is a big challenge because it means our work has increased dramatically. We need to do much more searching in order to find the same quality of people among the same amount of people. Originally in the classical headhunting world, you did research for one or one and a half months and you came to a shortlist of three to five people. Nowadays we often have to search for two or three months and we are happy if we find two people.

What are the main differences in making an executive search in Slovakia and in other countries where your company operates?

Our company focuses on central and eastern Europe ,while we also have offices in Austria and Germany. And there is not so big a difference between Slovakia and Hungary or the Czech Republic. But with Germany and Austria there are differences. But what is really special in Slovakia is the very limited number of candidates. This is because of the brain drain and also because people over a certain age, nowadays around 55, are often not considered as possible candidates. It used to be basically a European problem that people over 50 were not considered. But this is shifting and many countries have started to change and consider people above 55 or even ask retired people to come back. But this is much less the case in Slovakia.

Why do you think this is so?

I consulted with my Slovak colleagues and they think that basically there is a prejudice – as hiring people are typically west European managers – against people of a certain age as the managers are afraid that older people will carry too much baggage in their minds from communist times.

Do you also fish for successful Slovaks abroad?

This would be an ideal scenario and many of our clients would want that actually. But it is very difficult to reach those people because these communities are difficult to reach. When we talk to these people, usually they have very high expectations in order to return because they would have to give up their well-settled life in Canada or Germany. So, it does not normally work, except for one small segment in the market of Slovaks living abroad: those who actively want to come back for whatever reason; nostalgia or family reasons, etc. These people tend to approach us actively. We have a few such people every month. They are highly qualified and have great market value.

Do you succeed in finding them good jobs?

Yes, definitely.

Are there any differences in managers in Slovakia and abroad in terms of their skills and abilities?

Our company made a study regarding cultural differences a few years ago and this was one of the questions that was raised. The outcome was that team work ability and discipline is very high in Slovakia. Slovak managers are also very well structured and organised and thus have a good image even within the central European community. This is also shown in industry, with so many car manufacturers and suppliers operating in Slovakia. One of the reasons is that Slovaks are high-performing. Another reason is that logistics in Slovakia are very close to western Europe.

What impacts has the pandemic had on headhunting? Will these effects continue?

One major impact was holding video meetings and video interviews. These will continue because they are faster and easier to organise. But they have brought in less commitment. Potential candidates, when approached with an offer, first say that they are interested. Then one week later they change their minds. This is because there was no personal meeting and they feel much less committed. But this is part of the shift in society as a whole. Everything is very fast.

The pandemic brought on a phenomenon known as the Great Resignation in the US, where employees began to voluntarily quit their jobs en masse. Is this phenomenon also occurring in the region of central and eastern Europe or in Slovakia?

Definitely not. The reason why is that people here are fighting much more for their livelihoods. In general, they are poorer, so they need the salary to support the family, to pay their mortgage, they cannot afford to say: I will quit to find fulfilment without a regular income.

This comes back to the differences of Slovak managers. One finding of our study was that there is a lack of entrepreneurial spirit amongst Slovaks. The desire to step out of a safe world with a fixed income into entrepreneurial risks is very low in Slovakia.

What qualities does a headhunter need to be good?

The first quality is listening skills. Listening is very important because we have to listen to, of course, interviews, but also listen to what clients want. A good headhunter must also have a good balance of sales and HR skills. It is also a sales job, which is often forgotten. This is because we have to sell our services to potential new clients, we have to sell the job to the candidate and we have to sell the final candidate to the client. It is not enough just to do a good interview and select a good candidate. But we also have to have this sales transaction.

What conditions must be met for a good match to occur?

Besides objective factors, such as the right experience, language, age, salary and all these criteria, it is needed to get the personal chemistry right between the candidate and the future boss for a really good match. That is the key element. This is why before actually hiring someone the parties have to meet in person. You can have early video interviews for early screening, but there is still a huge difference, and I think it will last, between video and personal interview. This is because when somebody walks into the room, there are so many messages coming: putting the mobile phone on the table, it is almost like showing a power symbol – see I’m here, I can be reached. Even how somebody is sitting at the table, putting the chair back after the meeting or just leaving it there in the corner can tell a lot about the candidate. There are so many details which are not possible to see in a video interview.

What was your best match of a top manager and company in the long term?

There are two, one in Slovakia and one in Hungary. The first one is Andrej Arendáš, managing director at Kärcher Slovakia. Our company placed him in Osram in Slovakia. At that time, he was a young and very promising manager. He stayed with the company for 10 years and even became its general manager. The other one is a manager I placed 25 years ago in one company in Hungary. He has become a European manager and made a wonderful career. He is still with the company.

Do you approach managers you have placed before when you are looking for managers for another client?

Our own placed candidates are off limits as long as they are with the company. It means we do not approach them ever, even if they are a good fit. This is our business approach.

What should headhunters do to avoid a failure in headhunting?

Check and double check. Good references come from previous bosses, not from previous colleagues. When we can reach the previous boss we ask one very easy and immediate key question, whether he or she would hire the person again. If the reference person hesitates a bit, then already we have some doubts.

Have you predicted a good match that in the end was not?

Yes, of course, we also make mistakes. It happens because, despite being careful and checking, we cannot look inside people’s minds. They may be playing a role and cheating us. It has happened to me also, I misjudged people, too.

Which aspect of headhunting can be performed by AI?

Obviously the data screening parts or CVS screening and matching with the job description. But I also see danger here. This is because candidates are using artificial intelligence to apply and get their CV written. On the other hand, another artificial intelligence is checking that CV and application. So, in the end we have two computer systems checking each other. But in general, especially in mass recruitment for workers where no personal meeting is needed, AI plays a huge role for sure.

What should young people with the ambition to become top managers focus on during their studies or the early years of their career?

They should go out into the world to learn languages and experience other cultures and test what they are good at, say through internships or apprenticeships. Jobs can have a good image or even a good salary, but the daily reality of a job might be very different.

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