Blog Archives

EOFY – trivia, observations and reflections

I’ve just finished an interview with an accountant… (insert your joke or comment of choice)… for a Financial Controller role. Actually it’s a great opportunity with a small private investment company.

I generally start an interview with an easy general question like, “How’s work?” In this case the response was, “Flat-out! I’m super busy because of EOFY (End of Financial Year).” Makes sense and I’m sure there are thousands of accountants around Australia who are saying the same thing.

According to that font of all modern wisdom, Wikipedia, Australia is one of only a small list of countries that use 1 July to 30 June as the financial year. Others include New Zealand, Japan and Egypt. In comparison the US use 1 January to 31 December and the UK is more unusual, being 1 April to 31 March for government. UK businesses can choose any 12 month period.

Given that much of Australian law and business practices have British origins, you might expect that we would have a similar EOFY. Some sources suggest that our reverse seasons compared to the Northern Hemisphere mean more Australians are on holiday in January and at work in the winter months. I’m not a Mythbuster, so I’ll just say that is plausible.

In my patch of the recruitment world, financial services, three out of four major Australian banks have changed to 30 September as their EOFY. Most other financial services organisations that I work with ie. industry superannuation funds, fund managers, smaller banks, investment consultants and private wealth managers, use 30 June as EOFY.

What I’ve seen in the last few months is lots of strategic planning for next financial year and establishment of budgets. Generally I’d say recruitment intentions are quite positive.

For many of us EOFY is a busy time, trying to complete work. Now is a chance for a quick spot of reflection and strategy refinement: What worked, what didn’t and how can we improve?

OK reflection done, there’s calls to be made!

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Posted in Slade Executive, The world @work

The changing face of the CEO

You may think you know what a CEO looks like – those of us who regularly work with senior people in other organisations or at a strategic level within our own – can picture some of the qualities common to those individuals who have been successful in business leadership roles. Yet it strikes me as an executive recruitment consultant who is regularly engaged in the hiring process for C-Suite roles, how the expectations for a CEO’s capability has changed in recent years.

Of course there are underlying leadership behaviours that have not changed: setting the vision, developing a daily dialogue, being clear about expectations… What I’m really talking about is the changing marketplace of the consumer – customer behaviour is forcing companies to do things differently, while evolving work styles have put pressure on CEOs to alter their tack.

Looking at trends in the C-Suite over the last 20 years, PWC reports, “Another interesting trend is that disruption is increasingly prompting boards to turn to external hires, rather than internal candidates, to fill CEO positions. They hope to capitalise on the experience and skills that these individuals bring from another organisation, or even another sector.”

While that’s good news for those of us in the recruitment business, it’s a timely reminder of the need to constantly reassess our hiring practices. Here is a sample of the types of questions that are (or should be) on the table, from my recent discussions with selection panels for senior hires:

  • Can this person build relationships with stakeholders to prioritise our key objectives for the next 12 months?
  • What digital, social media and other technology capability can this person bring to the role?
  • What exposure has this person had to gender equality and other diversity initiatives when acquiring talent and team building?
  • What global network do they have to drive capability within the organisation?
  • What recent experience does this person have in engaging, managing and motivating a high performing team?
  • How much does this person know about modern performance management processes?

In the current market, intangible qualities are increasingly highly valued. As organisational culture expert John Burdett reminded me in a seminar I attended earlier this year, successful CEOs need to be effective communicators. They must be authentic, engage the whole organisation in a meaningful way, not just report at Board level. They are storytellers who can articulate how things will be achieved in detail – jargon old or new, simply won’t cut it. Enthusiasm for the job and a sense of humour won’t go astray either.

What changes have you observed in the face of senior leadership in recent years in your world @work?

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Posted in Slade Executive, The world @work

Daniel Goleman explains why Eco-intelligence is a thing

There’s EQ, there’s IQ, and now there’s Eco Intelligence. Except the ‘now’ is 10 years old and I’m late to the party.

How did I even hear about this? A few weeks ago, a bunch of us were rabbiting on about the relative EQ and IQ of a recent senior appointment, and our visiting international expert added, “And of course you’d have taken into account their Eco-Intelligence.

I nodded in zealous agreement, Yes, of course, Eco-Intelligence, at the same time my mind was shooting blanks.

Since then, I’ve done my homework. If like me you didn’t know Eco-intelligence was a thing, then let me bring you up to speed in 2 minutes.

The term, first coined by Daniel Goldman is the title of his 2009 book Ecological Intelligence. It has gained traction through consumer action, apps and websites such as GoodGuide. Where it has still to gain traction is in the hiring of senior managers who can embed eco values and an eco-culture.

Explaining it in his compelling straightforward style, Goleman has a 90 second video that’s worth viewing.

Daniel Goleman Connects Emotional and Ecological Intelligence

Daniel Goleman explains Ecological Intelligence

In it, he explains the rapport we build with other humans is ‘I-to-You’. Or we might fail to build mutual rapport because we use a command and demand approach, which is ‘I-to-It’. And that’s how we can also understand Eco-intelligence. Namely, if we are mindful of our rapport with the earth, respectful and open to giving and taking, then that’s high Eco-Intelligence. If we strip the earth of its potential, command, demand, and show no respect, then that’s low Eco-intelligence.

At a consumer level, Eco Intelligence has been brought to life with Apps and websites such as GoodGuide. GoodGuide’s mission is to provide consumers with the information they need to make better shopping decisions. Consumers can choose products that contain ingredients with fewer health concerns, while it gives retailers and manufacturers compelling incentives to make and sell better products. There are also environmental impact assessment tools too that help corporates and individuals assess their production, distribution and consumption decisions.

How do you create eco values at your world @work, and how do you embed Eco intelligence in your decision making?

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Posted in The world @work

Attitude’s the biggest threat to the world economy?

Experts at the World Economic Forum release yearly updates assessing the biggest dangers facing the world economy. Environmental concerns have jumped up the list and now global warming tops economists’ concerns.

Last month I attended an Australian Credit Conference hosted by a large global credit rating agency. The event was well represented by investors and large business organisations. With a number of questions put to the audience, everyone had an opportunity to vote on the topics offered. The popular choice was along the lines of: “What do you think is the biggest threat to the Australian economy today, the cost of carbon reduction or the environmental issues associated with greenhouse gas pollution?”

At the risk of being controversial, it was shocking to me that the business community, as represented at the event, thought changing our (dirty) energy habits would be more disastrous economically than climate change. I was quite surprised that the majority of attendees felt our biggest economic threat is the effect of carbon reduction measures. Surprised, because I assumed those in attendance to be well-informed people with access to plentiful resources about current environmental concerns.

While our business leaders need a crash course in environmental awareness – I’d like them to sit through Al Gore’s An Inconvenient Truth or a screening of Leonardo DiCaprio’s documentary, Before the Flood – I was left wondering whether the majority of Australians in the world @work can see the effects of climate change as it is happening right now? Polls show increasing support from people at grass roots level on a range of environmental issues, including a carbon tax and green energy, but change begins with positive leadership, agitation and support from the community at large.

The potential cost of doing nothing to halt the damage to our planet is incalculable. However, it seems obvious that funding for renewables and other innovative carbon reduction energy solutions is being stalled by vested interests. It took a tweet from Tesla’s Elon Musk (who has famously offered to solve South Australia’s power problems with battery technology in 100 days) to fire-up the State Government and engage the Federal Government in the conversation. It was encouraging to see expressions of interest from local competitors in the battery market, but it’s going to take more than an ex Vice President, a Hollywood actor and an entrepreneur to kick-start a (much needed) renewables boom.

The World Economic Forum says failing to mitigate climate change will likely have a bigger impact globally than the spread of weapons of mass destruction, mass involuntary migration, predicted water crises and a severe energy price shock – Australian consumers have experienced significant energy cost increases year on year, abolishing the Clean Energy Act notwithstanding. Instead of funding massive foreign owned coal mines, as the Queensland Government-Adani partnership proposes, or championing newer but less responsible energy sources, such as coal-seam gas (fracking was recently banned in Victoria), let’s invest in the industries where local businesses and communities also have a future. I’d love to see our manufacturers of solar panels, wind farms, battery cells and other alternative innovations receive most of those investment dollars.

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Posted in Professional Support

Resourcing the new Infrastructure State. A challenge for Victoria?

Victoria – The Infrastructure State. It could be a number plate. The Melbourne Metro Rail project is underway, level crossings are being replaced, plans for ‘sky rail’ continue to cause controversy and an airport train could be back on the agenda. For roads, the Tulla freeway is being widened, the West Gate and Bolte will get improvements, and the Victorian Government is considering a proposal to build the ‘missing link’ Western Distributor.

Last December at the Engineers Australia Transport Year in Review, I listened with interest to Corey Hannett, Coordinator General, Major Transport Infrastructure Program on the current infrastructure program of works scheduled for Victoria. From a project resourcing point of view, the Government’s main concern is the lack of skilled project leaders to deliver this ambitious program of works.

Key themes presented were:

  • Ensuring the right balance between public and private resources to manage multiple, overlapping projects within optimum timelines
  • Sourcing skilled project leaders across different disciplines, including CEOs, Project Directors, and Senior Project Managers
  • Diversity in the Construction sector

From an executive recruitment perspective, these concerns certainly mirror our experience when consulting with organisations in building, construction and engineering over the last 12 months: Demand for experienced, diverse and specialist talent is at a premium. As the momentum for construction work Australia-wide continues to gather pace, the question remains how do we address this to help the immediate needs of Victoria?

There are serious concerns about poaching staff being felt across the sector, which is experiencing significant problems with retention (a fact that’s not lost on us when headhunting). Here are three points that were raised to consider when hiring, which also resonated with me:

  • When considering a candidate’s abilities, look for transferable skills, taking the time to consider all of their work history, not just the first page of the CV
  • You don’t need someone who has done the exact same job, you need someone who can do the job
  • Victorian employers may benefit from staff attrition with the completion of major projects interstate or could source talent from other sectors where demand has subsided, such as mining (particularly in WA and QLD)

I will be a keen observer over the next few years to see whether we have the appetite to meet the talent demands of the Infrastructure State.

What measures do you think are needed to address talent shortages for major infrastructure projects in your state? Share your point of view to continue the conversation.

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Posted in Slade Executive, The world @work

‘Trump’s wall’ can’t stop talent fleeing the US

At 6:41pm Eastern Australian time on Wednesday 9 November, within half an hour of the calling of the US Presidential election result, in came an email with a request to chat from a very highly regarded Assistant Professor at a major Californian university.

“I have been quite fulfilled at (the) University,” she said, “but the results of our election have made me seriously concerned about the future of environmental science research in the US. I now want to consider something new and somewhere new.”

In our tightly interconnected world we are vulnerable to global shockwaves: the prospect of a Trump presidency may seem ominous for the global economy, but it could also throw up opportunities. We expected that Brexit would see some international professionals seeking opportunities in Australia to the benefit of business and universities here, but this week’s US election result could have an even bigger impact.

I have been recruiting academic roles for a major Australian GO8 University of late and our search for three of that University’s schools has involved contacting academic leaders all around the world. A number have been interested to talk further, and perhaps will apply, but most prospective candidates were happy where they are.

It’s not surprising. Given the new President’s comments on climate change in the lead up to the election, further concerted action on climate change appears unlikely in the US. But what really struck me was that this academic was ready to act on her convictions and back her professional experience, to up stakes and head to ‘warmer’ climes that hopefully (we’ve also seen some of our leading scientific minds looking abroad for a more welcoming political climate) will be more compassionate and supportive of her work.

Not everyone can move countries at will of course. The Assistant Professor is fortunate that there are career pathways within her professional community that facilitate knowledge sharing amongst academics. If she is able to continue her work here, her research will lead to a better understanding of climate impacts, from changes to wetlands, arid and other landscapes (highly relevant considering the environmental challenges we face in this country), then we will all benefit from her expertise.

So while some nations are talking about building walls that may prevent workforce mobility, Australia could be holding a winning hand if we maintain open-minded policies. From an executive search perspective and as a regular international traveller for senior appointments, I’d love to be able to refer more talent both ways.

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Posted in Slade Education, The world @work

Hiring the whole person (not those gingerbread men or women)

“I recommend that you hire someone with a less-conventional story if you want the people on your team to innovate and collaborate in the way this new-millennium workplace requires.”

– Liz Ryan, Forbes.

Next time you’re hiring, challenge your thinking about who would be ‘right’ for the job by asking yourself a few simple questions:

  • Does the candidate really need a defined career history or specific qualifications?
  • Are their skills and capabilities more important than their attitudes and values?
  • Do they have valuable experience outside of work, such as involvement with community, sport, arts, family etc, which they could bring to role?

When looking for the ‘right’ candidate, hiring managers often take the cookie-cutter approach: they select an obvious match to the skills, experience and career path of the incumbent or job description. Liz Ryan, a former HR Senior Vice President in a Fortune 500 company, has written in Forbes about why this is a bad idea. “Cookie-cutter candidates who have the exact experience detailed in the job ad and who have perfectly linear, manicured and stepwise career paths are seldom the best hires, in my experience,” she says.

Working on a recent assignment got me thinking along the same lines: We need to look at the whole person, not a tick sheet of have they finished this, completed that, and moved from one role up the ladder to the next.

The role I was recruiting was for quite a traditional market, so I was pleasantly surprised when the employer hired the candidate who had a more varied background than other candidates. When providing feedback, the employer explained that their chosen candidate demonstrated entrepreneurial spirit and a growth mindset, which they valued highly in comparison with other candidates (who were all equally capable of doing the job).

Ryan’s advice rings true in this case, where more rounded life experience has paid dividends. Top candidates are also looking for employers who have an open-minded approach. Over the years in business I have observed successful leaders often held a variety of roles across different sectors. This has enabled them to take the best from each experience and contribute to their evolution as visionaries. LinkedIn has compiled some inspiring lists of its Top Voices, which include diverse examples of influencers, entrepreneurs, management and organisational culture experts, as well as those organisations who rank as Top Attractors for talented individuals.

Encouraging diversity within your team will help shake-up your current thinking, bring new dynamics, and offers a variety of perspectives – or as Ryan says, “When in doubt, hire the quirky candidate.”

Have you ditched the cookie-cutter? What are some of the innovative qualities you look for in candidates for when hiring?

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Posted in Slade Executive, The world @work

A brand new box on the org structure

In a global survey of 500+ business leaders conducted by IIC Partners, three out of four respondents (76 percent) said they didn’t have a Chief Digital Officer (CDO). While a majority of organisations might not have a CDO, it’s becoming critical for businesses of all sizes to consider digital when recruiting any leadership roles.

Digital transformation began long ago in the corporate sector and has an even longer lead in industrial environments – just consider the history of robotics in manufacturing (circa 1955) or computer assisted design and engineering (1970s). Driven by PC, communications and database technologies, digital has successfully worked its way up the chain from IT to the back office, through administration to the front of house, via marketing.

Slade Executive is recruiting senior executives in digital right now, and we’re seeing an international trend in key digital appointments as part of the overall organisational strategy. Charting digital alongside traditional C suite roles, such as finance, operations and human resources, recognises its strategic importance. Along with information and marketing, we’ve seen that digital has the capacity to radically influence the competitiveness of an organisation in the present climate and will no doubt be essential to the survival of many industries in future.

In smaller businesses or those with more modest resources, a cross functional hybrid is the model for CDO. Agile executives who can work across a combination of digital, marketing and information technology are already highly sought after. As industry background becomes less relevant and a diverse CV looks more appealing, digital acumen is now one of the most commonly requested attributes when hiring leaders.

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Posted in Slade Executive, The world @work