The New Year
Will Provide Opportunities for A-Players
By Perri Capell
Brian M. Sullivan is chairman and chief executive officer of
Christian & Timbers, an executive-search firm based in
Yes, because a positive economic cycle is finally starting, and
the presidential election is over. It doesn't matter whether George Bush or
John Kerry won; it's the fact that the election is over, and we can resume planning
and forecasting because there's stability in the
The economic cycle also seems to have turned upwards. People complain
about interest rates rising, but rising rates are more of a positive indicator
of economic activity than a negative. The reason rates are going up is that
there's activity, and it's becoming positive. I feel really good about business
conditions. This will translate into more jobs for executives because it means
corporate investment, and that, by definition, means adding to the management
team.
In talking about what's ahead for the next five to 10 years, we
are calling this period the "new normal." It's an era where senior
management is saying, "Let's look at our five- to 10-year plan and
determine what goals we want to reach, how we are going to do it, and what type
of skill sets we need." Companies are more appreciative of global
involvement, managing priorities and determining the three or four things they
want to accomplish in the next 12 to18 months that will position them to year
five. Then, they're assembling the team that can accomplish both the 18-month
and the 60-month goal.
This is a dramatic departure from the pop-or-drop hiring in the
last upturn. Then venture capitalists and companies themselves were looking at
new-business opportunities and saying, "Quick, let's get a CEO, because we
have 18 months to pop this thing or drop it and get out." Companies aren't
doing that now. They're looking at systematic growth around sustainable
economic models that require really sustainable growth. So it's completely the
opposite. This is attracting a more sophisticated business manager. Before, you
had a crank-it-up-and-forget-about-the-expense type of thing. This is a more
systematic, long-term and financially disciplined approach.
Demand is good where job descriptions have changed. The chief
financial officer job has probably changed the most because of the
Sarbanes-Oxley Act of 2002 and the incredible regulation and attention to
detail that's required now. In keeping with the terrorist threat, the role of
corporate security officer has evolved to include protecting all company data
and information. In the past, senior sales-and-marketing executives have had
the luxury of being U.S.-centric. Now, these executives must have an
appreciation and understanding of global affairs and not just what's happening
in the
The sectors that are doing well include telecom, especially
wireless, biotech and financial services.
There is a lot of growth where technology, consumer products and
entertainment intersect. Examples include the computer-driven products oriented
to receiving music, video or other entertainment. For instance, iPods will be
as common as the mobile phone soon. There will be growth at companies that can
create consumer products and make information and entertainment available on a
personalized level.
We continue to be really strong in terms of searches for chief
executive officers and their direct reports for telecom and tech companies.
Many employers also are revamping their sales-and-marketing organizations.
Companies are scrutinizing chief financial officers more than in the past. The
reason has a lot to do with the personal risk to CEOs and the board's fiduciary
responsibility to shareholders. We are doing a lot more board searches to find
people with certain direct skills. Boards members used to be fairly generic; a
company would seek the "best athlete." Now companies want someone
with financial acumen or marketing experience in northern
Demand for people to work in Asia and
To position yourself, you must be in an organization that has the
need and show an interest and perhaps be pursuing some external cultural
endemic or advisory group. But in many ways, if this isn't a passion of yours
or you aren't already doing it, it's almost too late for an executive to be
looking for this type of job now.
About 50-50. Since things slowed down from the late 1990s, we have
been doing searches for a No. 2 to jump to a No. 1 slot about half the time.
For the other half, we look for people to make a lateral move. People will make
this type of a move if their current company is de-emphasizing the importance
of their job or if their boss is only two years older than they are and it's
unlikely they'll get the top slot. They feel they are better off going
somewhere where the person is 22 years older, and they will maybe get the top
slot. Also, when you are recruiting for a Fortune 500 company out of a Fortune
50 company, you can take the No. 2 person and move them up to the No. 1 job.
It's the other way around if you are going the other way, from a Fortune 50 job
to a Fortune 500 job.
That job hunting isn't something that gets turned on and off. It's
a life journey, and staying in touch with people who are of high quality and
caliber is part of overall business networking. If you are interested in
what someone else is doing, and they're interested in what you're doing, it
isn't job hunting. You're simply contacting your circle of influence and
staying in touch.
You should never put your head down, because as you get more
senior in your career, it's from your external contacts and relationships that
you'll get successes, such as distribution rights, an acquisition, new
products, or being able to recruit the best talent and call their references to
get the inside skinny on them.
I usually ask this after I have presented the opportunity to them.
Then the question is, "Tell me why you think this opportunity is big, and
why you think you can maximize it on behalf of the company." The answer
tells me if they comprehended what I said and could quickly assimilate what
needs to get done. If they can, I have a good shot on he or she being the right
person. If they can't, they haven't been in that type of situation before and
can't figure it out.
-- Ms. Capell is a senior correspondent for
CareerJournal.com. She can be reached at frances.capell@dowjones.com.
From CareerJournal December 2004