| The increasing globalisation of business and of | | | | Uday Chawla, managing partner, and Rahul Mathur, |
| employers both large and small pose significant | | | | senior partner, with TRANSEARCH International in |
| questions about whether an organisation can | | | | India, believe that the executive search process |
| leverage the same assets to attract exceptional | | | | for world-class management talent must factor in |
| management talent in other regions of the world. | | | | the linkage between top executives' work and |
| Gregory Dohnt, partner in the TRANSEARCH | | | | sense of self. "Clearly, jobs have become a part |
| International Sydney Office – Watermark | | | | of self expression," Chawla and Mathur agree. "It |
| Search – says exceptional leaders are | | | | is the opportunity to work with something close |
| motivated by the potential reputation | | | | to one's heart and in one's own style which is of |
| enhancement, recognition from peers and | | | | prime importance." This alone suggests a very |
| opportunities for genuine wealth creation that | | | | personalised engagement with top management |
| might be promised in a career move. "Executives | | | | candidates. |
| seek escalation of challenge. They want to see | | | | Invariably, that engagement leads to discussions |
| that what they tackle today on behalf of an | | | | about compensation, and from the perspectives |
| organisation will assist them to meet even | | | | of Chawla and Mathur, it cannot be overlooked as |
| greater, more complex challenges in times to | | | | part of the lure for a new management recruit. |
| come," Dohnt says. "Good leaders think about the | | | | "Money is a complex motivator. While all |
| legacy of people they leave behind them when | | | | executives look for optimising growth potential |
| their time is through. Top executives seek to | | | | and alignment to personal goals in each job," the |
| balance tomorrow's results with futureproofing | | | | TRANSEARCH India partners agree, "often |
| sustainability. And most importantly of all, they | | | | money is used as a benchmark for comparisons |
| want to work with other people just like | | | | with peers or assessment of market value of |
| themselves." | | | | self, and then it overrides other considerations." |
| And contrary to media headlines about significantly | | | | Creating the right compensation framework is a |
| inflated CEO pay, Randall Maple, also a | | | | necessity to engage top leaders, but their fit has |
| TRANSEARCH International partner with | | | | much more to do with their sense of satisfaction |
| Watermark Search, says money alone is typically | | | | in a new environment. "While it is a no brainer to |
| not enough to lure a top executive away from a | | | | consider good product and high growth potential |
| job in which he or she is currently well | | | | markets a minimum requirement, things like |
| compensated, proven and highly regarded by | | | | innovation, cutting edge HR practices and |
| peers. Companies, Maple contends, have to offer | | | | employer branding go a long way in making a |
| more in terms of "a future in an organisation of | | | | company attractive from outside," say Chawla |
| strong reputation that is not only well managed | | | | and Mathur. |
| but has plans for development and growth." The | | | | Speaking specifically to the movement of |
| proposition required to attract top talent, he adds, | | | | executive talent on the Indian subcontinent, they |
| "needs to be not only attractive in terms of | | | | observe: "There are more business leaders willing |
| rewards but in terms of stimulation and future." | | | | to shed their tenured association in a large, |
| Maple observed that many employers understate | | | | government sheltered or otherwise |
| the attractiveness of their senior-most career | | | | market-insulated corporation to explore start-ups |
| opportunities. But, ultimately, its attractiveness in | | | | and test their mettle for a higher gain." |
| the eyes of potential executive-level recruits "will | | | | The availability of large numbers of management |
| inevitably be impacted also by their performance | | | | appointments within many executives' current |
| in the market place, their strategic plans for the | | | | environs, however, has raised the bar for |
| future and evidence of innovation in the way they | | | | companies that must really differentiate their pitch |
| do business." Compensation underpins the value | | | | to attractive management candidates to stand |
| top employers place on people and their | | | | out amid the crowd. Hiring companies that |
| preparedness to be competitive. The most | | | | understand the recruitment of senior business |
| competitive among them, Maple adds, rank at | | | | leaders is a two-way street will be in the best |
| least in the third quartile of remuneration for | | | | position to compete in an increasingly global war |
| senior executive roles as measured by analysis of | | | | for executive management talent that is now |
| pay for the same role in a similarly sized company | | | | beginning to unfold. |
| in the same market space. | | | | |