“Timing is everything” is a phrase we hear all the time. But how do you get the timing right? How do you become better at it, and how do you bring the elusive themes of “timing and luck” more firmly under your control? These questions became the focus of our discussion at a recent Savannah Boardroom lunch for senior executives.
In a rush to bring diverse talent to an organisation, few stop to ask themselves why they are actually doing this. What is it about the sex or race of a particular candidate that makes them the best fit? What does the company hope to gain by seeking out a more diverse group of candidates in general?
Answering those important questions holds the key to unlocking the potential of a diverse organisation, and that requires redefining what diversity is.
We hosted a boardroom lunch at our London Office for Chairmen, NEDs, CEOs and Investors from the Leisure, Hospitality & Travel sector. The topic of discussion was on the advice that this group of esteemed executives would give to a new CEO today.
The role of the CIO has evolved at the speed of light compared with those of its peers on the Executive Committee. It certainly needed to. The vast majority of roles within businesses today have at least some level of technology usage and most significant transformation programmes are underpinned by technology.
The strongest candidates will be attracted to a business which has a clear strategy and a board that is united behind it. It should not be the short term goal of the CEO to develop the strategy unless the business is in need of a “turnaround”
For modern knowledge-based organisations, it is talent and not capital and raw materials that have become the most important asset and the key to competitive advantage. This elevation of the talent agenda means that the personal traits and leadership styles of the best HR Directors are increasingly converging with those of their CEOs.
We see a continuous evolution in the CFO’s remit, which is expanding to become much more about judgement and commercial contribution. Boards will continue to rely on the CFO for risk analysis, but they will also expect them to see the implications through a commercial as well as a financial lens.
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