(Newswire.net – June 11, 2013) Atlanta, Georgia — Business leaders sampled on a worldwide basis are stepping up measures to maximize returns from the existing workforce. This is one of the findings of the seventh annual Senior Management Survey released by Cornerstone International Group, a prominent international search organization.
An increased focus on talent development, coaching and performance measurement is apparent in the 2013 Spring Survey results. Firms with formal measurement programs integrated across the organization jumped 22% over the previous year while those with no programs in place dropped from 18% to 14% of respondents.
The annual survey reflects broad-based, senior management business sentiment around the world and has tracked strategic thinking since before the financial collapse of 2007.
Contrary to many sources, respondents did not consider quality job candidates harder to find than five years ago. They did, however, overwhelmingly find them harder to attract and sign.
“It’s not surprising that business leaders are looking inwards to a greater degree,” says Simon Wan, the new CEO of Cornerstone International Group. “Sourcing and signing high-value people gets harder every year. And what people often overlook is the length of time it takes to make them profitable. We have noticed a big uptake in our coaching services in the past year.”
The state of the economy in almost all regions continues to heavily influence strategic planning. Respondents projecting revenue growth of 8% or less increased by 4 points to 39% and the sample was evenly divided between those who expect to hire this year and those who do not.
Expectations for local economies – which have historically been more optimistic than for the global condition – have soured, with only 50% considering the recession to be over locally compared with 63% a year ago.
In other Cornerstone survey findings:
- More Boards than ever have independent, women, or ethnic minority directors
- Generalists are prized as directors over specialists (e.g. Finance) by a margin of almost 2:1
- Notwithstanding the focus on talent development, only 34% consider their leadership pipeline is healthy
- Coaching remains primarily an ad hoc solution. Over one-third of respondents have no ongoing program
Cornerstone International Group is a global executive search, coaching and management leadership consulting group with offices on five continents. It has headquarters in Shanghai, China and in Atlanta, Ga, USA.
Copies of the Spring 2013 Senior Management Survey can be reviewed and downloaded on the organization’s website at www.cornerstone-group.com.