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2014 BlueSteps CEO Career ReportMobility on the rise as CEOs eye strategic expansion to retain top talent
2 2014 BlueSteps CEO Career Report2
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2014 BlueSteps
CEO Career Report
Contents:
2 2014 BlueSteps CEO Career Report
Page 3: Executive Summary
Page 4: About Our CEO Study
Page 5: CEO Business and Career Management Concerns
Page 6: Most-Needed Skills for Today’s CEOs
Page 7: Relationship Between CEOs and Board of Directors
Page 8: CEO Communication with Stakeholders
Page 9: CEO Networking and Hiring Trends via Social Media
3 2014 BlueSteps CEO Career Report
Executive Summary
The 2014 BlueSteps CEO Career survey was conducted from February 2014 to April 2014 and received 160 responses from executives with the title Chief Executive Officer (CEO) worldwide. The purpose of this survey was to discover the issues faced by CEOs and to learn where CEOs are headed for the purpose of helping current and aspiring CEOs successfully manage their careers.
The survey results highlighted a strong focus by CEOs on the growth of their own careers. CEOs understand that their skills are imperative to their organizations’ success, but at the same time they have concerns about the stability of their current mandate and an interest in securing their next opportunity. This trend represents the top career management concern of this survey’s CEO respondents, which was finding new opportunities (81.3%). Concurrently, CEOs are focused on finding and retaining top talent to grow their current organization, with the majority (53.3%) stating that this is their top business-related concern.
Peter Felix, AESC & BlueSteps President, commented: “This report reminds us that while CEOs are focused on the key issues of attracting and retaining talent to their organizations, they are themselves concerned about their own career progression and the next opportunity. This is an inevitable reflection of the modern business world and a fast changing, competitive landscape. For the CEO in many organizations the only way to achieve greater responsibility, career potential and wealth creation is probably to find opportunities outside of the organization – a fact that many Boards of Directors will overlook when reviewing their current CEO or considering succession issues. CEO’s, just like everyone else, are human beings chasing their career dreams.”
Regarding their relationship with company stakeholders, the majority of CEOs believe they communicate effectively with key company stakeholder groups. In addition, a significant percentage believe their relationship with their board of directors was a positive one.
Mobility on the rise as CEOs eye strategic expansion to retain top talent
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4 2014 BlueSteps CEO Career Report
11.0%
11.0%
78.0%
Public-sector
Non-profit
Privately-held
About Our Study
Current Sector
Employer Organization
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1.8%
1.8%
1.8%
3.6%
7.2%
9.0%
9.0%
12.6%
12.6%
13.5%
14.4%
12.6%
Hospitality/Tourism
Media/Entertainment/Advertising/PR
Insurance
Energy/Natural Resources
Financial Services
Consumer/Retail
Not for Profit/Public Sector/Education
Professional Services
Healthcare/Life Sciences
Technology/Telecoms
Manufacturing/Industrial
(Other)
(Other 12.6%)
85 Privately-held12 Non-profit 12 Public-sector51 did not identify
2014 BlueSteps CEO Career Report5
Top CEO Business Concerns
Top CEO Career Management Concerns
The majority of CEOs were most concerned about finding and attracting qualified talent (53.3%), which shows that CEOs are still highly invested in their companies’ success by building strong-performing teams and potential successors.
Most CEOs were concerned about finding new opportunities (81.3%) and staying innovative (72%). Modern CEOs have witnessed high CEO turnover over the past decade, which has caused an increased focus in these two areas of career management.
9.3%
15.9%
16.8%
19.6%
27.1%
30.8%
34.6%
45.8%
46.7%
53.3%
Other
Increasing globalization
Rising taxes
Decreasing political stability
Decreasing business costs
Lack of credit or capital availability
Increasing competitors in the market
Increasing profitability
External economic factors/conditions
Finding and attracting qualified talent
6.5%
24.3%
25.2%
42.1%
48.6%
72.0%
81.3%
Other
Declining compensation
Continued academic education
Employment stability
Career stagnation
Staying innovative
Finding new opportunities
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*Respondents were prompted to choose their top three business concerns.
*Respondents were prompted to choose their top three career management concerns.
6 2014 BlueSteps CEO Career Report
Most-Needed Skills for Today’s CEO Candidates
According to this survey’s CEO respondents, the skills most-needed for today’s CEOs are business and growth-focused, including: 1) Strategic thinking (71.9%), 2) Decision making (37.5%) and 3) Motivation of people (29.2%).
These skills may vary greatly from those that were in demand for CEOs of the past. Further research on the skills needed by modern leaders vs. leaders from 10+ years ago could bring about interesting commentary on the changing landscape of leadership, and possibly, changes in the path to becoming a modern CEO.
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2.1%
6.3%
6.3%
9.4%
12.5%
25.0%
29.2%
37.5%
71.9%
Other
Sector knowledge
Mentorship
Management
Teamwork
Interpersonal/communication
Motivation of people
Decision making
Strategic thinking
*Respondents were prompted to choose the top three most-needed skills for today’s CEOs.
7 2014 BlueSteps CEO Career Report
Relationship Between CEOs and Board of Directors
Most of this survey’s CEO respondents reported feeling most positive about their communication with their board of directors and generally good about their working relationship.
CEOs generally agreed, but didn’t feel as confident that the board’s behavior alligned to company values (11.5% Disagree or Strongly Disagree) and CEO - board relationship-building outside of regularly scheduled meetings (5.3% Disagree or Strongly Disagree).
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36.8%
53.8%
40.6%
51.0%
21.9%
28.4%
46.3%
38.7%
55.2%
36.5%
45.8%
47.4%
I build relationships outside of regularly scheduled meetings with my company’s board.
I communicate openly, proactively and transparently with my company’s board.
I consider suggestions from my company’s board with an open mind.
I am confident when addressing the board.
The board’s behavior is aligned to our company values.
I work effectively with my company’s board.
Strongly Agree Agree Neutral Disagree Strongly Disagree
36.8%
53.8%
40.6%
51.0%
21.9%
28.4%
46.3%
38.7%
55.2%
36.5%
45.8%
47.4%
I build relationships outside of regularly scheduled meetings with my company’s board.
I communicate openly, proactively and transparently with my company’s board.
I consider suggestions from my company’s board with an open mind.
I am confident when addressing the board.
The board’s behavior is aligned to our company values.
I work effectively with my company’s board.
Strongly Agree Agree Neutral Disagree Strongly Disagree
36.8%
53.8%
40.6%
51.0%
21.9%
28.4%
46.3%
38.7%
55.2%
36.5%
45.8%
47.4%
I build relationships outside of regularly scheduled meetings with my company’s board.
I communicate openly, proactively and transparently with my company’s board.
I consider suggestions from my company’s board with an open mind.
I am confident when addressing the board.
The board’s behavior is aligned to our company values.
I work effectively with my company’s board.
Strongly Agree Agree Neutral Disagree Strongly Disagree 20%
20.8%
9.4%
3.1%
5.4%
11.6%
8 2014 BlueSteps CEO Career Report
CEO Communication with Stakeholders
The majority of CEO survey respondents stated that they were spending the right amount of time communicating with company stakeholder groups. These CEOs believed they were spending the right amount of time with their customers (65%), employees (64%), board (64%) and partners (60%).
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28%
25%
31%
38%
41%
27%
25%
20%
64%
54%
43%
30%
44%
65%
60%
64%
Our employees
Our shareholders/investors
Policy makers and interest groups in our homecountry
Policy makers and interest groups in other countrieswhere we operate
Important communities
Customers
Partners
My Board
Too little time, we’d do well to invest more About the right amount Too much time, we should scale back
38%
31%
41%
25%
25%
28%
27%
30%
43%
44%
54%
60%
64%
65%
Policy makers and interest groups in other countrieswhere we operate
Policy makers and interest groups in our homecountry
Important communities
Our shareholders/investors
Partners
Our employees
Customers
Too little time, we’d do well to invest more About the right amount Too much time, we should scale back
9 2014 BlueSteps CEO Career Report
CEO Professional Networking on Social Media
Time Spent by CEOs on Social Media for Professional Networking
3%
24%
30%
31%
12%None
Less than 1 hour perweek
1-2 hours per week
3-8 hours per week
More than 8 hours perweek
95.7%
45.7%
32.9%25.7%
8.6%
LinkedIn Facebook Twitter Google+ Other
Most-Used Social Media Sites for Personal Promotion or Networking
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2014 BlueSteps CEO Career Report
About BlueSteps.com BlueSteps.com is an online career management service for global senior executives. As an exclusive service of the Association of Executive Search Consultants (AESC), BlueSteps enables senior executives to make their career profile accessible to over 8,000 retained executive search professionals in more than 75 countries who are members of the AESC, and use the database as an additional resource in their candidate and source identification process. BlueSteps members can stay informed of executive job market trends and news and use a variety of tools and resources to facilitate the successful management of their executive career path.
About The Association of ExecutiveSearch Consultants The Association of Executive Search Consultants (AESC) is the worldwide professional association for the retained executive search sector. The AESC promotes the highest professional standards in retained executive search consulting, broadens public understanding of the executive search process, and serves as an advocate for the interests of its member firms. For more information, or to download the AESC Code of Ethics and Professional Practice Guidelines, please visit www.aesc.org.
About Executive Search Connect The AESC also offers www.ExecutiveSearch Connect.com, a service for the HR community offering sector information and tools to assist with senior executive recruiting, including access to the AESC membership directory.
Join BlueSteps Today.
Be visible to over 8,000 retained executive search consultants at the world’s top retained executive search firms.
As a member of BlueSteps, your career details will be confidentially provided to hundreds of the world’s leading retained executive search firms in over 75 countries. Benefits include:• Confidentially increase your visibility to top executive recruiters.• Build stronger connections using a fully searchable directory of executive search consultants who are AESC members.• Explore executive job opportunities being filled by AESC member executive search firms.• Elevate your personal brand.• Plan your executive career management strategy.
Join BlueSteps to begin connectingwith executive search firms today.
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