You’ve just been offered the CEO job at a multinational corporation and it looks like a great opportunity. The position plays to your strengths, expands your network of influence internationally, and advances your long-term career plans. But are you ready and willing to face the risks inherent in the design of this particular role?
“We have bigger things to do right now than focus on value.”
This is what I have been hearing in many of the conversations I’ve been having with private equity owners and operators in the last while. We live in strange times indeed when value (traditionally expressed as market cap), an all-encompassing indicator of success, takes a back seat.
Is it possible to scale global startups fast enough when windows of opportunity are tight and capabilities need to be supercharged overnight?
That is the question leaders of the LIVEKINDLY COLLECTIVE, a global plant-based foods company, and CEO.Works, the “Talent to Value” firm, were discussing in late spring 2020. “Executive talent sharing” is the modern and practical solution they came up with to address the problem of scarce leadership talent in these unprecedented times.
Like most CHROs, I have spent all of my career operating within the universe of talent management. The established, widely accepted practices and processes of talent management, many of which are highly consensual, have stood me in good stead. In fact, I and my C-suite partners have only ever had one serious concern when we look at our well-equipped HR departments: how we manage talent isn’t always linked tightly with what is relevant to the company’s performance.
Data informs decision-making. And now big data is making its way into a domain previously dominated by small data: the search and selection of C-suite talent.
We place big bets every time we hire into the C-suite. Not only do we immediately put the value at risk with every new hire. At this level, each senior executive also has the potential to influence the culture of our organization, its reputation, and its downstream financial results—either positively or negatively.