Management Skills Required in the EU Mobility of managers and how to succeed in the new market condi

1
Management Skills Required in the EUMobility
of managers and how to succeed in the new market
conditionsAlice Punch

• October 26, 2004

2
Introduction of Egon Zehnder International
Services
Facts

• Founded 1964 - in Switzerland
• Number one European firm - top three world wide
• 300 consultants - each 10 years prior work
  history
• 58 offices in 36 countries - about 2/3 in Europe

• Executive search
• Management Appraisal
• Board Consulting
• Talent Management

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Impact of EU Enlargement

• Larger market place
• More business opportunities
• Freer movement of managers across borders
• Increased flexibility of managers is expected

So what?

• The traditional rule of supply and
• demand prevails
• Having the right person in the right
• place continues to apply

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Motivation of managers to relocate does not
significantly increase with EU accession

• Supply and demand will be continuously
  regulated by the
• market forces
• The local market is increasingly more
  influenced by
• international trends (globalization effect)
• Skill set of local managers is benchmarked with
  international
• trends
• The requirement of value added remains
  (applicants for a
• new job should ask themselves a question
  What am I going
• to add to the position that I am applying
  for compared to other
• candidates?)
• Local managers are aware of their value
  qualities
• There is an ongoing interest in hiring local
  management talent
• There is a trend to decrease the number of
  managers
• expatriates with local managers
• Local top managers had the opportunity to work
  abroad prior
• to EU accession already

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Impact of EU accession on corporations Active
Talent Management Has Become a Strategic Priority

• This is not only a Czech issue - it is an
  international issue
• Ability to work in an international setting is
  increasing
• There is a constrained supply of talent (War for
  Talent)
• Employee expectations are higher, employees are
  more mobile
• Executives manage their careers actively
• Alternative career options are on rise
  (non-corporate, start-up)
• Losing the best people has become expensive .....
• Replacement cost is frequently more than two
  years salary
• Promoting from within can be good for culture and
  climate

War for Talent has shifted to become a battle for
Talent Management
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Impact of EU accession on individual managers
Pluses and minuses of an international career
A professional and his employer should plan and
evaluate benefits of an international posting
prior to the move

• Individual manager
• Define expectations
• Expected benefits?
• Professional career growth
• Financial benefits
• Length of stay abroad
• What will I do when I come back?

• Corporation
• Define expectations
• Expected benefits?
• Define KPIs
• Internationalization of
• management talent
• Length of stay abroad
• Plan how / where to utilize
• gained know-how upon return

Not all international career postings end by
utilization of new learnings and by a motivating
career development.
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Most sought after basic skill set of a successful
international manager
Skills Description Language skills English
(or) other foreign languages Plus know-how of
a local language Leadership Ability to motivate
and influence people to reach organizational
strategic goals Communication skills Articulate
written/oral communications, listening and
negotiating in an international setting in a
matrix organization Ability to create and Track
record of transforming processes/ manage
change organizations for improved
performance Management skills Setting priorities,
assigning the appropriate resources,
delivering on time and on budget,
supervising and directing people in
multicultural environment Talent
management Hiring, developing and retaining
high-quality professionals
Additional competencies Strategic thinking,
international mind-set, entrepreneurship and
flexibility to travel / relocate.