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The arrival of a new executive heralds a period of opportunity, transformation, and, inevitably, challenge. The process of integrating this new leader – onboarding – is a critical, often under-emphasised phase that can significantly influence the trajectory of both the individual's and the company's future. So why do so many organisations fail to get executive onboarding right? The High Stakes of Executive Onboarding The adage "well begun is half done" resonates profoundly in executive onboarding. Harvard Business Review reveals a startling statistic: as many as 40-50% of new executives fail within the first 18 months of their appointment. This failure rate is not just a personal setback for the executives; it represents a substantial cost to the company – often up to five times the executive's salary. The reasons for failure? Poor cultural fit, unclear expectations, and inadequate onboarding support top the list. But what makes the consumer goods industry particularly challenging for new executives? It's a dynamic sector where consumer preferences shift rapidly, supply chains are complex, and competition is intense. Here, more than anywhere else, an executive's ability to adapt and lead effectively from the outset is paramount. The Multifaceted Challenges in Onboarding The failure of many organisations in the consumer goods industry to effectively onboard new executives is multifaceted: 1. Tailored Onboarding Versus Standard Processes The provided text emphasises the necessity of a tailored onboarding process for executives, distinct from standard employee onboarding. This is particularly relevant in the consumer goods industry, where executives must navigate unique market dynamics, consumer trends, and complex supply chains in Australia. Tailoring the onboarding process to address these specific industry challenges ensures that executives can hit the ground running with a clear understanding of the landscape they will operate in. 2. The Role of a Dedicated Onboarding Team The concept of a dedicated project team for executive onboarding, as implemented by Palo Alto Networks, could be highly effective in the consumer goods sector. Such a team could focus on providing industry-specific insights, facilitating connections with key stakeholders, and ensuring that new executives understand the nuances of the Australian consumer market. This team would act as a bridge between the executive and the unique aspects of the Australian consumer goods landscape. 3. Engagement During the Notice Period In the consumer goods industry, where market trends and consumer preferences can shift rapidly, keeping executives engaged during their notice period is crucial. This period can be used to familiarise them with current market analyses, consumer behaviour trends, and ongoing projects. This proactive approach ensures that the executive is well-informed and ready to contribute from day one. 4. Cultural Orientation and Familiarity Building a strong cultural connection is vital in any industry but takes on added importance in consumer goods, which often relies on understanding and adapting to cultural nuances to succeed. Regular touchpoints that orient the new executive to the company's culture, values, and consumer-centric approach can help in crafting strategies that resonate with the Australian market. 5. Collaboration Among Various Teams The need for collaboration between HR, Reward, Performance, and Talent teams is pertinent in the consumer goods sector. This collaboration can ensure a unified approach to addressing the specific challenges and opportunities an executive might face in this dynamic industry. For instance, understanding the compensation frameworks and performance indicators specific to different departments within a consumer goods company can aid an executive in making more informed decisions. 6. 'Just-in-Time' Resources The idea of providing ‘just-in-time’ resources is particularly beneficial for executives in the fast-moving consumer goods sector. Given the rapid pace of change in consumer preferences and market trends, having access to real-time data and concise, relevant information can be invaluable. This approach allows executives to stay agile and make decisions based on the latest market insights. 7. Understanding of Performance Cycles In the consumer goods industry, understanding the timing and nuances of performance cycles is critical. This is especially true in a market like Australia, where seasonal trends and events can significantly impact consumer behaviour. The onboarding process should include education on these cycles, preparing executives to plan and execute strategies effectively in sync with these fluctuations. The Role of the Board in Facilitating Successful Onboarding The board of directors plays a pivotal role in the onboarding process. Their actions, or lack thereof, can set the tone for the new executive’s tenure. What should they be doing? Pre-Onboarding Engagement: The process starts before the executive's first day. Boards must ensure clear communication about the company's vision, challenges, and expectations. This early dialogue helps align the executive’s mindset with the company's strategic goals. Structured Onboarding Plan: Developing a comprehensive, customised onboarding plan is crucial. This should cover not just the operational aspects of the role but also the cultural and interpersonal dynamics of the organisation. Mentorship and Networking Support: Assigning a mentor from the board or senior leadership can accelerate the integration process. Additionally, facilitating introductions and networking opportunities within and outside the company is invaluable. Regular Check-Ins and Feedback: Ongoing support doesn’t end after the first week or month. Regular check-ins to provide and receive feedback ensure any issues are addressed promptly. Performance Metrics: Clear, early-established metrics for success help the new executive understand how their performance will be measured. Enhancing Executive Performance through Effective Onboarding The correlation between effective onboarding and enhanced executive performance is well-established. A study by McKinsey found that executives who had a successful onboarding experience were 1.9 times more likely to exceed performance expectations. Furthermore, these executives reported feeling more integrated into the company culture and more effective in their roles earlier than their peers who experienced less structured onboarding. Effective onboarding leads to better decision-making, faster strategy implementation, and a more cohesive leadership team. It builds a foundation of trust and understanding that is crucial in the high-stake, rapidly evolving consumer goods market. Onboarding as a Strategic Imperative Effective executive onboarding goes beyond mere orientation – it is a strategic process that lays the groundwork for long-term success. As we've seen in the consumer goods industry in Australia, a well-planned and executed onboarding process can be the difference between a flourishing leadership tenure and a costly misstep. In an era where the cost of failure is high and the speed of change is relentless, consumer goods companies must view executive onboarding not as a perfunctory checklist but as a fundamental building block of sustainable leadership and organisational success. Remember, your new executive's journey is a reflection of your organisation's commitment to leadership excellence. Invest in their onboarding, and you're investing in the future of your company.

Explore the pivotal choice between internal talent acquisition and hiring via executive search firms in the food and beverage industry for optimal growth.

Explore how data-driven executive search strategies are transforming FMCG leadership, enhancing recruitment, retention, and strategic planning.

The advent of a new year often brings with it the tradition of setting resolutions, a practice that extends into the professional realm, particularly for leaders in dynamic sectors like the Food & Beverage industry. For boards and C-suite executives, 2024 presents an unprecedented opportunity to redefine leadership and organisational goals through the lens of micro-resolutions - small, manageable changes that can lead to significant outcomes. Embracing Micro-Resolutions for Personal Growth Why Start Small? In an industry as fast-paced and ever-evolving as Food & Beverage, large, sweeping resolutions can often be daunting and less feasible. This is where micro-resolutions come in. They are about making small, incremental changes that are easier to stick to and can lead to larger, more sustainable impacts over time. What Can Executives Do? Boards and C-suite executives should start by identifying key areas for personal growth and professional development. This could range from enhancing industry knowledge, improving leadership skills, or adopting new technology trends. The key is to break these down into smaller, actionable steps. For instance, instead of broadly aiming to 'improve leadership skills', set a micro-resolution to 'mentor a team member bi-weekly'. Staying on Track Regular self-assessment is crucial. Executives should schedule monthly check-ins to evaluate their progress and make adjustments as needed. This approach ensures that resolutions are adaptable and aligned with evolving personal and professional landscapes. Setting Teams Up for Success Fostering a Culture of Continuous Improvement Leaders in the Food & Beverage industry must also focus on setting their teams up for success. This involves creating an environment that encourages continuous learning and improvement. How to Achieve This? Promote Skill Development: Encourage team members to set their own micro-resolutions focused on skill development. This could be learning a new software, enhancing customer service skills, or understanding the latest food safety regulations. Create Collaborative Goals: Align team micro-resolutions with broader organisational objectives. For instance, if a company's goal is to reduce waste, a team micro-resolution could be to implement a new recycling program. The Role of Feedback Regular feedback is essential. Leaders should provide constructive feedback to help team members stay on track with their micro-resolutions and recognize their achievements, thereby fostering a positive and motivated workforce. Aligning New Opportunities with Micro-Goals Assessing Leadership Opportunities For executives considering new job opportunities, aligning these with micro-goals is vital. This approach allows for a more strategic assessment of whether a new role aligns with personal and professional objectives. Key Considerations: Cultural Fit: Does the organisation's culture align with your values? Growth Opportunities: Are there opportunities for professional development that align with your micro-resolutions? Impact Potential: Can you make a meaningful impact in this role? Making the Decision Before making a move, leaders should evaluate the potential role against their set micro-resolutions. If the opportunity advances these goals, it can be a strong indicator that the role is a good fit. Supporting Staff Development with Micro-Goals Nurturing Talent in the Food & Beverage Industry The Food & Beverage industry is highly competitive, and retaining top talent is crucial for success. Executives can play a key role in this by supporting the professional development of their staff through micro-goals. How to Implement: Individual Development Plans: Work with team members to create personalised development plans that include micro-resolutions. Learning Opportunities: Provide resources and opportunities for learning, such as workshops, seminars, or online courses relevant to the Food & Beverage industry. Ensuring Optimal Performance To ensure optimal performance, executives should regularly monitor the progress of these development plans and adjust as necessary. Recognizing and rewarding achievements related to these micro-goals can also significantly boost morale and productivity. Conclusion: A Year of Transformation As we step into 2024, the emphasis for boards and C-suite executives in the Food & Beverage industry should be on flexibility, adaptability, and continuous improvement. By setting and pursuing micro-resolutions, leaders can not only enhance their own professional growth but also drive their teams and organisations towards greater success.

In executive hiring, the nuances of the candidate experience often spell the difference between attracting exceptional leadership talent and settling for mediocrity. As companies compete fiercely for skilled leaders, the importance of a positive candidate experience has moved from a 'nice-to-have' to a critical component of an organisation's employer brand. But what makes this experience so pivotal in executive hiring, and how can it shape your company's future? In the high-stakes arena of executive hiring, particularly in dynamic sectors like consumer goods and food & beverage, the candidate experience isn't just a step in the process; it's a pivotal chapter in your organisation's story. As companies vigorously compete for the very best leadership talent, the nuances of this experience transition from a 'nice-to-have' to a decisive factor in shaping your employer brand. It’s about more than filling an executive position; it’s about attracting a visionary capable of steering the organisation towards uncharted territories of innovation, sustainability, and customer engagement. This journey, often undervalued, is where your organisation's narrative meets the aspirations of leading professionals. It's not merely a procedural pathway; it's a golden opportunity to communicate your values, culture, and vision to those who can amplify them. First impressions and sustained interactions make or break crucial decisions, understanding and optimising the candidate experience is not just beneficial; it's essential for securing the right leadership that aligns with and propels your company's ambitions forward. So how can boards ensure the candidate experience is positively contributing to their hiring objectives? First Impressions Count: Crafting the Initial Touchpoints The adage "You never get a second chance to make a first impression" holds profound truth in executive recruitment. The initial touchpoints between a prospective candidate and an organisation set the stage for the entire recruitment journey. This phase includes the outreach strategy, the clarity, and appeal of job descriptions, and the professionalism in early communications. A LinkedIn report revealed that 69% of professionals agree that a company's reputation as an employer is essential when considering a new job. This statistic underscores the significance of first impressions in the recruitment process. When reaching out to potential candidates, it’s crucial that organisations convey their values and culture through every interaction, starting with the job description itself. The position description or hiring brief should be more than a list of responsibilities and qualifications; it should narrate the story of your organisation, its vision, and where the candidate fits into this picture. It should feel inviting, engaging, and reflective of the company's ethos. A compelling position description is a unique opportunity to make a powerful first impression, one that not only informs but also captivates potential candidates. It’s about storytelling — conveying the narrative of your organisation, its vision, and how the candidate can be an integral part of this journey. Crafting the Narrative Start with Your Company’s Story: Begin the position description by painting a vivid picture of your organisation's history, mission, and values. This isn’t just about facts and figures; it's about sharing your ethos and the passion that drives your company forward. Vision Casting: Clearly articulate where your company is headed. Candidates, especially at the executive level, want to know they're joining a forward-thinking and evolving organisation. Share your vision for the future and how the role they are applying for will contribute to this vision. Role within a Story: Describe the role not just in terms of responsibilities but as a part of your company's larger narrative. How does this role contribute to the company's goals and objectives? For example, “As our Chief Technology Officer, you will be the driving force behind our technology strategy, shaping the future of innovative solutions that empower thousands of businesses worldwide.” Culture and Fit: Emphasise the cultural aspects of your workplace. What is the work environment like? How does the team interact? What are your core values? This is particularly crucial for executive roles, as cultural fit is paramount. Engage with Authenticity: Avoid jargon and overly complex language. The tone should be professional yet conversational, giving a sense of the human element behind the corporation. Transparency and Communication: Building Trust with Candidates Clear and consistent communication throughout the hiring process isn’t just a courtesy; it’s a cornerstone of building trust with candidates. A CareerBuilder survey found that 81% of job seekers say continuous communication is essential to keep them in the loop. This transparency is even more crucial when dealing with executive-level positions, where the stakes and expectations are significantly higher. Communicating openly about the company's expectations, the specifics of the role, and the culture helps candidates understand what it would be like to work at your organisation. Regular updates about their application status and detailed feedback demonstrate respect for their time and effort, fostering a positive perception of your brand regardless of the outcome. The Interview Experience: Reflecting Company Culture The interview process is a mirror reflecting the company's culture and values. For executive roles, where the fit is as much about leadership style and cultural alignment as it is about skills, the interview process becomes even more critical. It’s not just what you ask, but how you ask it. The structure of the interview, the demeanour of the interviewers, and even the setting can speak volumes about your organisation. A Harvard Business Review article emphasises the importance of interviewer training to ensure they can effectively assess candidates while also being ambassadors of the company culture. Moreover, incorporating elements like meeting with potential team members or a tour of the office can provide candidates with a tangible sense of the working environment and ethos. Such experiences are invaluable in helping them visualise their future with the company. Feedback and Follow-Up: Demonstrating Respect and Professionalism Post-interview communication is often where companies falter. Providing constructive feedback, regardless of the hiring decision, is a practice that many organisations overlook. A survey by Glassdoor indicated that 94% of job seekers want to receive feedback after an interview. For executive roles, where the professional stakes are higher, this feedback becomes even more critical. Feedback should be timely, specific, and constructive. It should aim not only to inform the candidate of their status but also to provide insights that can aid their professional growth. Such practices foster a reputation for respect and professionalism, enhancing your employer brand. Onboarding and Integration: Beyond the Hiring Decision The journey doesn’t end with the acceptance of the job offer. Onboarding and integration are where the promises made during the recruitment process are put to the test. A structured onboarding process for executive hires is crucial. This process should not only cover the functional aspects of the new role but also immerse the new hire in the company culture and introduce them to key stakeholders. According to SHRM, organisations with a strong onboarding process improve new hire retention by 82% and productivity by over 70%. For executives, a tailored onboarding experience that addresses their unique role and influence within the organisation can significantly impact their effectiveness and longevity in the role. The candidate experience in executive hiring is a powerful tool that shapes your organisation's employer brand. It’s about crafting a journey that reflects your company’s values, culture, and vision. From the first touchpoint to the final onboarding steps, each phase of the recruitment process needs to be handled with care, professionalism, and a keen understanding of what top-tier candidates seek in their next role. The Strategic Role of Executive Search Firms Specialist executive search firms bring a wealth of expertise, particularly in the nuanced and high-stakes world of C-suite recruitment. Their understanding of the market dynamics, coupled with an extensive network of potential candidates, positions them uniquely to guide organisations through a meticulously tailored hiring process. One of the key strengths of these firms lies in their ability to create a compelling first impression. This is crucial in industries where brand perception and leadership are deeply intertwined. Executive search firms excel in crafting personalised, direct, and targeted outreach strategies. They don’t just present a position description; they tell the story of your company, its vision, ethos, and the potential impact the candidate can have. This narrative is vital in captivating the attention of high-calibre executives, who are often not actively seeking new opportunities but would be open to a compelling proposition. In the consumer goods and food & beverage industries, where trends, consumer preferences, and sustainability issues are constantly reshaping the landscape, the ability to succinctly and powerfully convey a company's vision and values is invaluable. Executive search firms facilitate informative and confidential discussions that not only highlight the opportunity at hand but also align it with the aspirational goals and values of potential leaders. Creating a Narrative That Resonates The ability to craft a compelling narrative can only come through and in-depth understanding of both the company’s needs and the candidate's motivations and strengths. It’s about positioning your company not just as a workplace but as a platform where transformative leadership can thrive, particularly in industries driven by innovation and consumer satisfaction. By having these focused and strategic conversations, executive search firms ensure that the potential leaders are engaged and intrigued from the outset. This approach is particularly effective in the consumer goods and food & beverage sectors, where leadership demands a blend of creativity, strategic thinking, and an innate understanding of consumer behaviour. Setting the Stage for Long-Term Success Furthermore, the role of executive search firms doesn’t end with the hiring. They often play a crucial part in the onboarding and integration process. Their deep understanding of both the candidate and the company puts them in a unique position to facilitate a smooth transition, setting the stage for long-term success. This aspect is particularly critical in executive roles, where early alignment with company culture and strategic objectives can significantly impact performance and team dynamics.

The landscape of executive hiring is undergoing a significant shift. No longer do traditional methods of evaluating candidates based purely on past experience, credentials, gut feelings or networking prowess solely determine the suitability of an executive. The modern-day executive's role is complex, multifaceted, and constantly evolving. In an era when companies are striving to break past traditional norms, the role of objective assessments in executive hiring has become pivotal. Why? Let's delve deep. A Shift Beyond Technical Prowess For years, hiring for executive roles focused on technical acumen, years of experience, and proven track records. While these are undeniably crucial, one cannot ignore the underlying facts that drive an executive's actions: their personality traits, cultural fit, and alignment with a company's core values. While a resume can tell you about past roles and achievements, psychometric assessments, as highlighted in the context provided, give insights into adaptability, motivations, and potential cultural synergies or clashes. They go beyond what candidates have done to predict what they might do in unfamiliar terrains or challenging scenarios. The case for assessments goes beyond measuring technical skills. A study by Harvard Business Review found that 80% of employee turnover can be attributed to bad hiring decisions, many of which are the result of cultural misalignment. Assessments help identify these potential pitfalls early in the process. The Nuances of Executive Assessments Beyond the general psychometric tests, executive assessments delve deep into personality profiling and cultural fit. Instruments such as the DiSC, 16 PF, FIBRO-B, and Myers Briggs Type Indicator have revolutionised the way we view potential hires. These aren’t the generic personality tests that were popular in past decades. They are intricate tools that spotlight behavioural tendencies, leadership styles, decision-making processes, and more. There's a broad spectrum of tools available for executive assessments, ranging from cognitive ability tests to in-depth personality profiling. Other popular assessments include: Hogan Assessments: These offer insights into a person's character, reputation, and business-related motives. Gallup StrengthsFinder: Concentrates on an individual's top talents, offering organisations a deep dive into what makes their executives 'tick'. However, the magic happens when these theoretical measurements from assessments are paired with live interviews by experts who can interpret and provide context to the data. This amalgamation of data-driven insights and human intuition offers a holistic view of the candidate, enabling better decisions regarding cultural alignment, onboarding strategies, and potential development areas. Guiding the Boardroom Boards play a crucial role in the hiring process. Their involvement ensures that executive hires align with the company's larger vision and mission. But when should they consider including executive assessments in the process? Simply put, always. Whether you’re hiring for an existing position or a new role such as Chief Sustainability Officer or Chief Digital Transformation Officer, the need for comprehensive insights remains consistent. Objective assessments ensure that even if the role didn't exist a decade ago, the board has the tools to predict how a candidate will shape and grow with the role. Boards and Executive Assessments: The Perfect Collaboration For boards, the responsibility lies in identifying the right type of executive assessment. Start by getting clear on the company's core values and the specific attributes that would complement those values. The ideal time for boards to think about including executive assessments? The moment succession planning or expansion comes into play. Being proactive, rather than reactive, ensures that the hiring process remains thorough, consistent, and poised to identify the best candidates for the role. The Double-Edged Sword Now, there's no denying the depth that executive assessments add to the hiring process. But, a pressing question arises: Can these assessments deter potential talent? The answer is, unfortunately, yes. Some high-calibre candidates might view assessments as impersonal or redundant, especially if they're already well-established in their fields. To counteract this, boards need to communicate the value and rationale behind these assessments clearly. Transparency is key. If a candidate understands that the intent is to ensure a mutual fit – benefiting both the employee and the employer – they're more likely to participate willingly. Refusal might also indicate a candidate’s resistance to adaptability or new methodologies – vital insights for the board. It speaks volumes about both the employer and the candidate. For employers, it showcases a commitment to not just hiring the right skill set, but also the right mindset. For candidates, the willingness to undergo such assessments shows adaptability, openness, and a commitment to aligning with a company's ethos. The Role of Executive Search Firms Executive search firms can be invaluable allies in this journey. Acting as intermediaries, their role goes beyond headhunting; they educate potential hires about the company's vision and why assessments are an integral part of the hiring process. They can help communicate the importance and benefits of these assessments to candidates, ensuring understanding and willingness. Their expertise ensures that assessments are presented not as hurdles, but as tools for mutual discovery. Moreover, these firms can assist in customising assessment strategies for specific roles, industries, or company cultures, ensuring relevance and precision. They can also provide feedback, helping candidates understand areas of strength and potential growth, turning a hiring exercise into a developmental opportunity. Recent Data That Speaks Volumes Let's turn our attention to some compelling numbers: A recent study by the Harvard Business Review found that companies that employed rigorous, objective methods for selecting executives enjoyed a staggering 213% increase in market capitalization over a two-year period post-hire, compared to their counterparts. This isn’t mere coincidence; it’s testament to the power of informed, data-driven hiring practices. According to a McKinsey report , companies in the top quartile for gender diversity on executive teams were 21% more likely to outperform on profitability. But how does one ensure genuine diversity? Through unbiased, objective assessments. A study from SHRM reveals that the average cost of a bad hiring decision can equal 30% of the individual’s first-year potential earnings. With executive salaries being sizable, the financial implications of a hiring misjudgment can be significant. Assessments can reduce this risk considerably. The Way Forward In an age of information, relying purely on intuition or past accolades is not just risky; it’s a missed opportunity. Objective assessments in executive hiring are more than just a trend; they're a reflection of the evolving corporate ecosystem. When used judiciously and transparently, they can unlock unparalleled insights, ensuring that your next executive hire is not just good, but truly great..By focusing on personality profiling and cultural fit, companies not only ensure they're bringing in the right skills but also the right perspectives, values, and visions. As the business landscape evolves, so too should our hiring methodologies. Embrace assessments, and let data guide the way to better, more inclusive hiring decisions.

In the corridors of corporate power, the recruitment and selection of executives has traditionally been a carefully curated process. While this careful approach is commendable, many executive teams and boardrooms still lack the rich tapestry of gender, racial, and cultural diversities that their companies profess, potentially jeopardising the richness of diversity and the competitive advantage it brings to leadership teams. For decades, businesses have hailed the importance of diversity, and the values of equal representation and inclusivity. While overt discrimination might no longer be as rampant, the subtle nemesis of unconscious bias still plays a pivotal role. As we unravel the fabric of executive hiring processes, we discover hidden biases which can significantly impact business growth, performance, and the cultivation of a diverse leadership team. Unconscious Bias in Executive Hiring: What It Is and Its Implications At its core, unconscious bias refers to the preferences and prejudices we hold without awareness. It's an inherent human trait, driven by our brain's need to categorise and make quick judgments based on past experiences. What’s alarming is that such biases, more often than not, aren’t the result of conscious discrimination. They stem from deep-seated stereotypes or societal norms that we've absorbed over time. When left unchecked and translated to hiring, these biases can have detrimental effects, leading to a homogenous leadership team, which in turn has implications for business growth and performance. A study by Harvard Business Review highlighted that despite equal qualifications, a candidate's gender, name, or even hobbies can influence hiring decisions. 1 When biases creep into executive hiring, they limit the talent pool, skewing it towards candidates that 'look' or 'feel' right, rather than those who are objectively the best for the job. From a business perspective, this is concerning. McKinsey's landmark study found that companies with more diverse executive teams are 25% more likely to outperform their peers on profitability. When companies overlook diverse candidates due to hidden biases, they're not just bypassing talent—they're missing out on potential profits and innovative ideas. How Boards Can Identify and Address Bias Self-Awareness and Training: The first step to combating unconscious bias is recognizing its existence. Boards must commit to regular training that highlights the different forms of bias, from affinity bias (preferring those similar to ourselves) to confirmation bias (focusing on information that confirms our existing beliefs). Diverse Hiring Panels: Having a diverse group of individuals involved in the hiring process can help counteract individual biases. The broader the range of perspectives, the less likely a single biassed view will dominate. Standardised Interview Processes: Instead of free-form interviews, boards can employ a standardised set of questions and evaluation metrics. This reduces the influence of a candidate's background or extraneous details. Anonymous Application Processes: Some companies have started using processes where names, genders, and other potentially bias-triggering information are removed from applications. Preventing Bias: Proactive Measures While identifying biases is crucial, prevention is better than cure. Boards can employ the following strategies: Diversify the Decision-making Team: Ensuring that the team responsible for executive hires is diverse can help bring in multiple perspectives and reduce the impact of individual biases. Standardise Interviews: By asking every candidate the same set of questions in the same order, boards can ensure comparability and reduce the impact of biases on the decision-making process. Use Data-driven Metrics: Instead of relying on gut feelings or intuition, boards can emphasise the use of data-driven metrics to assess a candidate's potential and fit. The Role of Executive Search Firms in Limiting Bias While internal measures are essential, sometimes, the inherent biases are so deep-seated that an external perspective becomes invaluable. Executive search firms have the expertise and frameworks to source and evaluate candidates objectively. Partnering with a renowned executive search firm can help in the following ways: Expertise and Objectivity: These firms bring a level of expertise and objectivity to the hiring process, ensuring that the best candidates are shortlisted based solely on merit. Wide-ranging Networks: They have extensive networks, allowing for a more diverse pool of candidates than a company might be able to source independently. Bias-free Technologies: Many top-tier search firms employ advanced AI technologies that help in unbiased candidate sourcing and assessment. A study from Harvard Business Review underscored the value of search firms, noting that companies that used such firms had leadership teams that were 30% more diverse than those who relied solely on internal recruitment processes. The Urgency of Addressing Bias The evidence is irrefutable. Addressing and eliminating bias in executive hiring isn’t just an ethical issue—it's a business concern. By limiting the pool from which leaders are drawn, companies can unintentionally stifle innovation, reduce market understanding, and even decrease financial returns. For boards, the onus lies in not just recognising and preventing biases but in proactively seeking diverse leadership. Boards and executive teams must be introspective, willing to challenge their beliefs and processes. By doing so, they're not just promoting fairness but ensuring that their companies remain at the forefront of global business. So, the next time you sit in that boardroom, remember: diversity isn’t just a checkbox. It's a competitive advantage.

The qualities that define good leadership are shifting. No longer are leaders judged solely on their ability to implement a vision; the modern executive is a constant learner, driven by an innate sense of curiosity. As markets change and new technologies emerge, curiosity — the drive to ask questions and seek out new perspectives — is proving to be a pivotal trait for innovation and sound decision-making. The Economic Mandate for Curious Leadership The digital revolution, globalisation, and unprecedented global challenges (like complex supply chains and inflation bought on by the events of the war in Ukraine) have reshaped economies and business strategies. A report from McKinsey & Company suggests China’s slowing economic activity is the second most-cited risk to the global economy, with 52 percent of Asia-Pacific respondents saying it’s a concern. Furthermore, the very nature of work itself has changed irrevocably. McKinsey & Company’s State of Organizations Survey suggests that more than half of respondents believe remote work will become more common (leaders, managers, and employees are still grappling with the effects of this broad behavioural upheaval. Organisations have been forced to reexamine foundational norms: Where do employees work? When do employees work? How do employees work? Indeed, according to McKinsey, surveyed leaders across Asia-Pacific view their economic outlook as less positive than it was 6 months ago suggesting further challenges as we move into 2024. But what has this got to do with curiosity? According to a recent Harvard Business Review article , companies led by curious leaders are 30% more likely to encourage risk-taking in the pursuit of innovation. Moreover, these companies were found to have a 10% higher growth rate compared to their less-curious counterparts. Can curiosity really provide a competitive edge?  Why Curiosity? But why does curiosity matter so much? At its core, curiosity is about wanting to know more. It’s about confronting what you don't know, and not just relying on what you do. In leadership, this translates to a few key benefits: Enhanced Decision-making: By seeking diverse perspectives, curious leaders reduce their blind spots. They're less likely to be caught off-guard by shifts in the market or changes in customer behaviour. Stimulating Innovation: Curious leaders are always on the lookout for the next big thing. Their natural inclination to explore often leads to unique and groundbreaking solutions. Building Better Teams: Leaders with a curious mindset value diversity and understand that different experiences and perspectives lead to richer discussions and more comprehensive solutions. Spotting Curiosity in Leadership Candidates So, given the importance of curiosity, how can boards and hiring managers identify this trait in potential candidates? Here are a few strategies: Behavioural Interviewing: Instead of asking candidates to simply list their accomplishments, ask them to narrate a situation where they had to learn something new to solve a challenge. Their approach to unfamiliar territory can be quite revealing. Recommendations and References: Often, colleagues and direct reports can offer insights into a leader's inquisitiveness. Does the candidate foster an environment where questions are encouraged? Continuous Learning Indicators: A history of pursuing additional courses, certifications, or self-initiated projects can be indicative of a curious mind. Cultivating Curiosity If you're a leader looking to enhance your curiosity quotient, here's some good news: curiosity can be cultivated. Here's how: Adopt a Growth Mindset: Coined by Carol Dweck, a psychologist at Stanford University, a growth mindset champions the belief that abilities and intelligence can be developed. Embrace challenges, persist in the face of setbacks, and understand that effort is the path to mastery. Diversify Your Inputs: Read books, attend seminars, or listen to podcasts outside of your domain. Cross-pollinating ideas from various fields can offer fresh perspectives. Encourage Questions: Cultivate an environment where team members feel comfortable challenging the status quo. The next big idea could come from an unexpected place. Engage in Reflective Practices: Allocate time for introspection. Journaling, meditation, or simply taking a walk can offer the mental space required to connect disparate ideas. The FMCG business landscape is one of volatility, uncertainty, complexity, and ambiguity. In such an environment, curiosity isn't just an asset; it's a necessity. The willingness to question, to probe, and to seek new horizons is what will differentiate the next generation of visionary leaders. By valuing curiosity — both in themselves and in their teams — leaders are not only fostering a culture of innovation but are also ensuring that their organisations remain resilient and agile in the face of ever-changing economic winds. The leading FMCG brands are in the hands of those who stay curious, and lead with questions.

It's no secret that micromanagement is often seen as the bane of innovation and creativity in companies. From entry-level employees to middle managers, the stifling nature of micromanagement is a frequently lamented phenomenon. However, one area where this management style is often overlooked, yet perilously influential, is in the C-suite. If you think micromanagement is problematic at lower levels, its impact at the top tier of management can be exponentially more damaging. 1. Why Micromanagement in the C-Suite Matters Micromanagement within the C-suite affects strategic decisions, company culture, and the overall direction of the organisation. When a CEO or CFO begins to dwell on minutiae, it signals to the rest of the organisation that they don't trust their teams or processes. Such a mindset, inevitably, trickles down. According to a recent study by Accountemps found that as many as 59% of people have been managed by a micromanager at some point in their career. Of the people who reported working for a micromanager, 68% said it had decreased their morale, and 55% claimed it had hurt their productivity. A 2019 Gallup poll found that employees who feel they are micromanaged are 28% more likely to consider leaving their job. While this figure pertains to the broad spectrum of the workforce, consider the ramifications at the executive level: senior leadership disengagement, or worse, top talents abandoning ship, could prove catastrophic. 2. Spotting the Signs of Micromanagement in the C-Suite Often, micromanagement at the c-suite level is subtle and masked as "due diligence" or "deep involvement." Here are some warning signs to be on the lookout for: Incessant Detail-Orientation: It’s one thing for a CEO to understand the finer points of a project, but if they’re demanding daily updates on tasks that are typically managed several levels down, it's a red flag. Decisional Bottlenecks: If most decisions, including the less significant ones, are pending top leadership's input, it hampers agility. High Executive Turnover: While numerous factors can contribute to turnover, an abnormally high rate within senior ranks might suggest a challenging work environment spearheaded by micromanagement. Frequent Bypassing of Hierarchies: If the CEO is consistently reaching out directly to middle management or entry-level employees, bypassing the respective heads, it may signal trust issues with senior leaders. 3. The Underlying Causes Before diving into solutions, it's crucial to grasp the root causes. For the C-suite, the pressures are immense. Stakeholders, investors, and market dynamics require a finger-on-the-pulse approach. Still, when micromanagement sets in, it often stems from: Insecurity: Whether due to prior failures, perceived threats from team members, or personal insecurities, some executives might use micromanagement as a defence mechanism. Lack of Trust in the Team: Perhaps arising from past experiences, the inability to trust can lead executives to take everything upon themselves. Perfectionism: An often-praised trait that, when taken to extremes, becomes counterproductive. 4. What Boards Should Do About It Boards of Directors, given their governance role, have both the responsibility and authority to address C-suite micromanagement. Open Dialogue: Initiate conversations with the concerned executive, aiming to understand their perspective. Instead of accusations, frame it as a shared responsibility to ensure the company’s success. 360-Degree Feedback: Implement a system where senior leaders receive anonymous feedback from their peers, subordinates, and even board members. Such systems, as revealed by a Harvard Business Review study , can help executives recognize and address their micromanaging tendencies. Leadership Coaching: Consider bringing in executive coaches. They offer external perspectives and can provide tools and strategies to shift from micromanagement to macro leadership. Redesign Decision Frameworks: If an executive is involved in too many decisions, it might be time to reassess which issues require C-suite intervention and which can be delegated. 5. A Glimpse into a Macro-Leadership Future As we march into an era that lauds agile management, AI-driven decisions, and a focus on company culture, the tolerance for micromanagement, especially in the C-suite, shrinks. A 2021 Deloitte study suggests that organisations adopting AI for decision-making processes outpace their competitors by 11% in terms of growth. This translates to a straightforward principle: empower systems and people, and the dividends will be palpable. The strategic altitude that C-suite executives should operate at doesn't afford the luxury of micromanagement. It's a costly endeavour, both in terms of time and the potential quashing of innovative sparks. For boards and stakeholders, recognising and addressing this issue isn't just about fostering a pleasant work environment—it's a crucial move to ensure the organisation's robust, sustainable growth.