Is there a "right" way to job hop? Do you need to have a "knack" for recruiting the right type of people? John Grumbar's reply to all these is an emphatic "no". The CEO of top-level executive search firm Egon Zehnder International (EZI) is used to dispelling "myths" like these. Grumbar, who became CEO in 2002, joined the London office in 1982 and helped build the company's financial services practice. A graduate from the London School of Economics and an MBA from Insead, Grumbar was in India recently to celebrate a decade of Egon Zehnder in India. He spoke on the latest trends in recruitment and on the "right" way to job hop.
Excerpts:
Are there any trends in top-level recruitments? Is any particular segment seeing more activity than others?
Right now, it's the telecom industry, particularly in India, which is seeing an upward trend. The same is the case with the IT industry, especially in China and India. Consider this: over 70 senior leadership searches were conducted in the IT/telecom sector in the past two years, of which one-third were for CEOs.
However, globally, and especially in the Anglo-Saxon world, it is financial services that is picking up. The next 12 to 18 months will see more and more changes in the sector, which includes insurance, asset management, investment banking and private equity. Another sector soon to pick up is real estate. Although the sector is still facing resistance to foreign investment here, it will change.
How do Indian managers compare with their international counterparts?
Indian managers are as capable as their counterparts anywhere in the world. They have equally good educational qualifications, have travelled extensively, have experience and so on. In fact, in some ways, they are more culturally adaptable than most. We have seen that multinational companies in the east of India prefer to have Indian leaders.
Then, other things that work in their favour is that they are more resilient, more adaptable and take calculated risks. Indian managers are extremely sought-after by western companies. Look around you. There are so many Indians heading MNCs. How many Chinese do you find in the same posts?
How do you assess probable candidates?
It is not an art to look for the perfect candidate. There is a complete methodology, based on intensive research. Our process of evaluation is called the competency assessment framework programme, which comprises a structured set of interviews and tests. We look for specific examples of the qualities on which we are focusing. For instance, we ask for examples of when the candidate led a team through a crisis.
References are another factor we take seriously. That way, we can compare what the person has said with the one who has been referred. There's a performance-oriented programme where we not only look at past behaviour but also simulate instances.
Also, the post for a CEO is not just that. You have to see what the company needs: a turnaround CEO, a growth CEO, or something else. They all need different qualities.
Over the past five years, what changes have occurred in the profiles of top-level posts?
Soft skills are definitely becoming more important. But that is natural since organisations are becoming flatter. And with that, influencing skills are becoming vital. Also, you need to be culturally sensitive.
Whenever we have evaluated someone for a position, the competencies come first "" hard marketing skills and so on. But then comes the most important part "" soft competencies. It is factors such as whether you can influence others, whether your team trusts you and so on that now matter more than anything else.
What are the new trends that you think managers need to wake up to?
One of the most important is the need for partnering relationships. In today's world, when you have to break into a territory or establish a trend, you need the competition's help, too. You need to see how you can work with competitors. You didn't have such a thing five years ago.
Then there's succession planning. Indian companies, however, are still grappling with that. They will have to look at something that works for the managers of the company, the shareholders, the market and so on.
What's your take on the current trend to job-hop?
Employee loyalty is no longer what it used to be, when people stayed with a company until they retired. Today, when the concept of job security is fast eroding, you have to think and plan your own career.
At the same time, you need to stay with a company long enough to make a track record, which is vital for success. The versatility of working with several companies does hold you in good stead. At the same time, too many job changes and you are looked upon as being a little unsure of what you want. It's critical to find a balance.
