tag:altopartners.com,2005:/feedAltoPartners Website News2024-03-14T10:10:26Ztag:altopartners.com,2005:News/23742024-03-14T10:04:51Z2024-03-14T10:10:26ZRethinking Leadership: It's Time to Get Personal and Listen<div class="richtext"><p><img alt="Transformational Leadership" class="" src="https://altopartners.com/storage/representations/redirect/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaHBBaGtNIiwiZXhwIjpudWxsLCJwdXIiOiJibG9iX2lkIn19--5b63df0ffb559568896efb7814a919cde673d41a/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaDdCem9MWm05eWJXRjBTU0lJY0c1bkJqb0dSVlE2RW5KbGMybDZaVjkwYjE5bWFYUmJCMmtDV0FJdyIsImV4cCI6bnVsbCwicHVyIjoidmFyaWF0aW9uIn19--dd9f121749ac618668b2d09f09b069432bbd670c/Transformational%20Leadership.png" /></p>
<p><strong>By <a href="/profile/5083-jamie-garner">Jamie Garner</a>, Head of Transformational Leadership with The Inzito Partnership / AltoPartners UK</strong></p>
<p>Gone are the days when a single blueprint for leadership excellence could be rolled out across the board in hopes of sparking organisational transformation.</p>
<p>The truth is, not all leadership roles are cut from the same cloth, and the notion of a ‘perfect leader’ is as mythical as it is unhelpful. In an era marked by digital innovation, environmental crises, and global pandemics, the call for leaders to navigate these tumultuous waters has never been louder.</p>
<p>But here’s the twist: not every leader needs to be a transformative hero. In many cases, it’s about maintaining a steady hand – and that’s where lessons from the past continue to be useful (up to a point). What is crucial, however, is that when disruption and transformation are on the agenda, the approach to leadership development must be as unique as the context and challenges at hand.</p>
<p><strong>Where we’ve come from may not be the best (and certainly not the only) place to learn from</strong></p>
<p>For as long as businesses have existed, they’ve been riding the waves of change, from the smokestacks of the Industrial Revolution to the digital streams of the 21st century. Yet, with the growing recognition that an overwhelming majority of organisational transformations are hitting the rocks – somewhere <a href="https://aisel.aisnet.org/misqe/vol19/iss3/7/">close to 80%</a> – the spotlight is finally turning to leadership, or rather, the way we’ve been developing it, to seek different answers.</p>
<p>The narrative has long been that a good leader today will be a good leader tomorrow, armed as they are with an array of skills, knowledge and experience and (therefore) a roadmap to success which can be unfurled to suit any context. Except when it can’t. This one-size-fits-all approach to leadership development is faltering in the face of shifting market forces, larger-than-life challenges of climate change, conflict, polarisation, pandemic recovery, and the digital deluge, stretching <a href="https://altopartners.com/news/2024-ask-alto-what-are-agile-leadership-principles-and-how-can-they-help-businesses-cope-with-rapid-change-in-2024">adaptive capacity</a> to its limit.</p>
<p>My associate Dave Sollars is well-versed in understanding how many of today’s most senior global executives feel. His observations and experience as a developmental coach for both global multi-national corporate executives and as faculty with MIT and Harvard executive education programmes over the last 15 years mirrors my experience. He points out that leaders now find themselves in uncharted territory. While programmes that enhance knowledge and skills have their place, executives also feel that help in developing the ability to adapt and make swift decisions under pressure is of critical importance to them – but less available.</p>
<p>This isn’t about doing things faster or sticking to the script; it’s about rewriting the playbook entirely, embracing agility and resilience – in some ways, this means being willing and able to ‘see themselves differently’ so that they can see their challenges and contexts differently.</p>
<p><strong>Where to from here for traditional leadership development?</strong></p>
<p>The primary focus on skills and attainment of the model of ‘successful’ leadership doesn’t quite cut it when faced with the unprecedented complexity that is the hallmark of the post-pandemic era. Over the last few years, we have noticed that the leaders who truly make a difference are also those who are self-aware, adaptable, and – crucially - comfortable with not having all the answers.</p>
<p>The crux of the issue is that we’ve been prone to lumping all leadership into one basket, leading to the assumption that there’s likely to be one ‘model’ solution for helping build or develop the perfect leader. What this approach fails to recognise is that a) not every leadership role requires transformation, and b) no two situations are identical. In these circumstances, a context-focused development approach that allows the individual to grow ‘as far as they can’ can be far more effective than striving for success using a mythical model of perfection. This means embracing both horizontal skills development and vertical growth, where leaders not only learn new skills but also evolve their worldview and approach to challenges.</p>
<p>Based on insights from research by <a href="https://www.nicholaspetrie.com/blog-1">Nick Petrie</a>, I would argue for a more nuanced and expansive approach to leadership development. This includes recognising the value of both skill acquisition (horizontal development) and the deep, transformative growth (vertical development) that shifts how leaders perceive and interact with the world around them. It’s about moving away from a one-size-fits-all curriculum to a more personalised journey that reflects the unique challenges and contexts each leader faces.</p>
<p>In this new paradigm, leadership development isn’t purely owned by HR departments. The onus is shifted onto the leaders themselves, taking in their self-awareness and accountability and their intrinsic drive for personal growth rather than for the benefit of organisational or personal rewards. It sees leadership not as a title held by a few at the top but as a quality that can be fostered across an organisation. And importantly, it shifts the focus from the ‘what’ of leadership to the ‘what and how’, emphasising the application of skills in real-world scenarios.</p>
<p>Ultimately, the path to successful organisational transformation is paved with leadership development that is as diverse and dynamic as the challenges we face.</p>
<p><strong>Time to get personal</strong></p>
<p>It’s time to get personal in our approach to leadership, recognising that while not all leaders need to be transformers, those tasked with navigating change will benefit from a development journey that’s tailored to their unique context and to the specific transformations they aim to lead.
And for us, as consultants and advisors to these leaders: it’s time to shelve our preconceptions about what leaders need and learn to pay attention to what individual leaders are telling us they need. We simply have to listen better.</p>
</div>tag:altopartners.com,2005:News/23712024-03-12T05:10:40Z2024-03-12T07:19:34ZInternational Women's Day 2024 : Unlocking the USD 172 trillion gender dividend<div class="richtext"><p>Is it possible for International Women’s Day to be both a celebration of what we have achieved and also a call to action?</p>
<p>Moving beyond platitudes and prose, our global experts at AltoPartners take a critical look at the hardline economics of gender parity. It is a USD 172 trillion gender dividend waiting to be unlocked or is it the cost of inaction?</p>
<p>Our experts from Argentina, Australia, Austria, China, Colombia, Czech Republic, Denmark, Germany, India, Mexico, Poland, Singapore, South Africa, Switzerland and the USA share specifics around why gender parity is still prevalent in their countries, what governments are doing (or not) to address the issue, examine shifting hiring trends and the impact of the maternity gap, and they provide insights into what leaders should do to advance gender equality.</p>
<p>Read our in-depth review by downloading <strong>International Women’s Day 2024 : Unlocking the USD 172 trillion gender dividend ”</strong> here - <a class="" href="/storage/blobs/redirect/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaHBBdjRMIiwiZXhwIjpudWxsLCJwdXIiOiJibG9iX2lkIn19--0f65d09b1e92c9ce76903a10df22503d842410aa/International%20Women's%20Day%202024%20Gender%20Dividend.pdf?disposition=attachment">Download document</a></p>
<p>Over the course of the next few weeks, we will continue to share exclusive in-depth insights into the trends and themes of gender equity across Africa, Asia Pacific, the Americas and Europe.</p>
<p>AltoPartners is a global signatory of the Association of Executive Search and Leadership Consultants (AESC) <a href="https://www.aesc.org/profession/aesc-diversity-pledge">Diversity Pledge</a>, a commitment to combat all forms of discrimination within our own organisations, with candidates and the clients we serve and in our communities</p>
<p><em>With contributions and leading insights from <a href="/profile/61-sonal-agrawal">Sonal Agrawal</a>; <a href="/profile/4037-joo-lee-aw">Joo-Lee Aw</a>; <a href="/profile/4569-anne-borgen">Anne Borgen</a>; <a href="/3369-andrea-brand">Andrea Brand</a>; <a href="/profile/2361-julie-garland-mclellan">Julie Garland-McLellan</a>; <a href="/profile/1279-regina-graf">Regina Graf</a>; <a href="https://www.linkedin.com/in/karenbgreenbaum/">Karen Greenbaum</a>; <a href="/profile/3279-claudia-hardy">Claudia Hardy</a>; <a href="/profile/73-corinne-klajda">Corinne Klajda</a>; <a href="/profile/46-jana-martinova">Jana Martinová</a>; <a href="/profile/997-mpho-nkeli">Mpho Nkeli</a>; <a href="/profile/1395-sandra-olive">Sandra Olive</a>; <a href="/profile/66-toral-patel">Toral Patel</a>; <a href="/profile/408-lauren-e-smith">Lauren E. Smith</a>; <a href="/profile/688-maria-isabel-ventura">Maria Isabel Ventura</a>; and <a href="/profile/501-julia-zdrahal-urbanek">Julia Zdrahal-Urbanek</a></em></p>
<iframe src="/storage/blobs/redirect/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaHBBdjRMIiwiZXhwIjpudWxsLCJwdXIiOiJibG9iX2lkIn19--0f65d09b1e92c9ce76903a10df22503d842410aa/International%20Women's%20Day%202024%20Gender%20Dividend.pdf" class="document-embed-iframe"></iframe>
</div>tag:altopartners.com,2005:News/23682024-03-05T08:47:21Z2024-03-05T08:47:21ZThe Company We Keep : Tracy Murdoch O'Such<div class="richtext"><p><a href="/profile/398-tracy-murdoch-o'such">Tracy Murdoch O’Such</a> is the Global Managing Partner, Media, Entertainment, and Sports: Diversified Search / AltoPartners USA. Based in New York.</p>
<p><strong>From</strong> Waterford, Connecticut. Currently living in Fairfield, along the coast of CT in the North Eastern part of the United States, population 62,000.</p>
<p><strong>Studied</strong> psychology at the University of New Hampshire.</p>
<p><strong>First job</strong>: Selling tickets for “See Submarines by Boats” when I was 12.</p>
<p><strong>First car</strong>: Mazda</p>
<p><strong>Current car</strong>: White Mercedes A220</p>
<p><strong>What’s the biggest surprise about your job?</strong></p>
<p>How I use my degree in psychology every single day!</p>
<p><strong>Biggest risk you ever took?</strong></p>
<p>Auditioning for the New York City Rockettes (in my youth as a dancer pursuing her dream).</p>
<p><strong>What makes you feel better on a bad day?</strong></p>
<p>My early morning run on the beach.</p>
<p><strong>Most redeeming quality?</strong></p>
<p>My empathy.</p>
<p><strong>What have you learned to come to terms with?</strong></p>
<p>That life truly does go on.</p>
<p><strong>What’s the thing that people are most surprised to learn about you?</strong></p>
<p>That I wanted to be a jazz dancer.</p>
<p><strong>Most interesting conversation you have had in the last month?</strong></p>
<p>Too many to count - in the last few weeks I’ve engaged with a Kenyan-based company looking to scale up in the US, the Saudi Olympic and Paralympic Committee, and the CEO of US Rugby. All equally fascinating.</p>
<p><strong>Last holiday (or the holiday that you loved the most)</strong>: Ireland.</p>
<p><strong>Best book you’ve read in the past year?</strong></p>
<p>Joan Didion’s <a href="https://www.goodreads.com/en/book/show/7815">Year of Magical Thinking</a>.</p>
<p><strong>What have you binge-watched recently?</strong></p>
<p><a href="https://en.wikipedia.org/wiki/The_Last_Movie_Stars">The Last Movie Stars</a> about Joanne Woodward and Paul Newman.</p>
<p><strong>Best gadget?</strong></p>
<p>iPad.</p>
<p><strong>How do you relax and unwind?</strong></p>
<p>Bad TV.</p>
<p><strong>Charity / cause closest to your heart</strong>:</p>
<p>Anything to do with getting kids to dance.</p>
<p><strong>I have a collection of</strong>….. hearts in nature - anything I find in the wild that is shaped like a heart.</p>
<p><strong>In my fridge, you will always find</strong>… champagne.</p>
<iframe src="/storage/blobs/redirect/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaHBBdVlMIiwiZXhwIjpudWxsLCJwdXIiOiJibG9iX2lkIn19--46ec3a331eb76d4f558d903aeb97427d41c076c5/TCWK%20Tracy%20Murdoch%20O'Such.pdf" class="document-embed-iframe"></iframe>
</div>tag:altopartners.com,2005:News/23652024-03-01T05:33:23Z2024-03-01T05:37:57ZThe Director's Dilemma - March 2024 Edition<div class="richtext"><p><img alt="Directors Dilemma March 2024" class="" src="https://altopartners.com/storage/representations/redirect/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaHBBc3NMIiwiZXhwIjpudWxsLCJwdXIiOiJibG9iX2lkIn19--b30dc485815b839eee65a4469c63e44092f3b45a/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaDdCem9MWm05eWJXRjBTU0lJY0c1bkJqb0dSVlE2RW5KbGMybDZaVjkwYjE5bWFYUmJCMmtDa0FFdyIsImV4cCI6bnVsbCwicHVyIjoidmFyaWF0aW9uIn19--4139588e5dbaa15f961a5e4fd6f35a35f7020c09/Director's%20Dilemma%20March%202024.png" /></p>
<p><strong>Produced by <a href="/profile/2361-julie-garland-mclellan">Julie Garland-McLellan</a>, Consultant at <a href="https://altopartners.com.au/">AltoPartners Australia</a> and non-executive director and board consultant based in Sydney, Australia.</strong></p>
<p><strong>Contribution by <a href="/profile/191-placido-fajardo">Plácido Fajardo</a>, is the Managing Partner at Leaderland Iberia S.L / AltoPartners Spain and has managed over 300 executive searches, assessments and coaching projects across Africa, Europe, North America, LATAM and Australia. Member of the Boards of Fundación Máshumano; IESE Business School Alumni; Advisory Board to Human Resources at ESADE Business School; National Board at AEDIPE (Spanish Association for People Management and Development) and Chairman of the Organization and Talent Chapter in the Fundación Cre100do. He is based in Madrid, Spain.</strong></p>
<p>This edition of the newsletter was first published on The Director’s Dilemma website and the full newsletter is available for viewing <a href="https://www.mclellan.com.au/archive/dilemma_202403.html">here</a>. To subscribe to future editions of the newsletter, click <a href="https://www.directorsdilemma.com/">here</a></p>
<p><strong>The Director’s Dilemma - March 2024</strong></p>
<p>This month we advise a chair who has encountered a very unsatisfactory development in a recruitment process.</p>
<p><em>Kathryn chairs a small not-for-profit board. The directors are paid, and the company is in a highly regulated financial services sector. Recently the board has been looking to appoint a new director and seeking someone with strong financial services and technology expertise.</em></p>
<p><em>One of Kathryn’s colleagues recommended a potential director. She seemed ideal; she had a good executive career in IT within the sector, had senior executive experience, and had recently completed a company director qualification. Interviews and reference checks went well so Kathryn sought the board’s approval for an offer to be made. On receiving the offer, the candidate revealed that the same director who had recommended her to Kathryn’s board had also recommended her for another board. The candidate offered to consider the role but only if the director fee was increased to exceed the fee offered by the other board.</em></p>
<p><em>Kathryn is torn. She liked this candidate right up until discovering that she is playing the boards off against each other to raise her fee. The candidate is a lot better than the second best from the selection and Kathryn is reluctant to start again and source a fresh bunch of prospects.</em></p>
<p><em>She is also quite cross with the director who recommended a candidate to two boards without mentioning that she was recommending this candidate elsewhere. It feels like a conflict of interest.</em></p>
<p><em>What should she do?</em></p>
<p><strong>Plácido’s Answer</strong></p>
<p>Motivation to serve on a board should be an important factor in choosing a board member. Money and non-profit organizations do not fit in the same statement. It seems that the main motivation of this candidate is about money, so I would say this candidate is not adequate to become a board member for a non-profit organization.</p>
<p>Recommending a potential candidate for a board should consider his or her motivations, and the fit of these with the organisation’s purpose and culture.</p>
<p>I understand Kathryn being reluctant to re-start again, but she has to consider that in the long term she will be happy to make the right choice. The re-orientation of the new search process should consider values and integrity of the candidate, on top of experience and skills.</p>
<p>Our response to this situation, as Kathryn’s advisors, would be:</p>
<ul>
<li>
<p>“Questioning” the director who recommended a candidate for two positions, one of which is the company he or she serves: apply the conflict-of-interest rules according to the board regulations.</p>
</li>
<li>
<p>Rethink the offer made, given the reaction of the candidate. Ensure that the cultural and value aspects of her fit with those of a non-for-profit organisation. Playing the boards off against each other to raise her fee is not a “fair play” and should not be acceptable.</p>
</li>
</ul>
<p><strong>Julie’s Answer</strong></p>
<p>I feel like I just stepped into Dragon’s Den or Shark Tank - “That’s a no from me”!</p>
<p>Directors need great judgement; for your first board appointment, the prime consideration should be the quality of the experience and the network that will be gained from accepting the position. Affinity with the mission is important. Fee is not. This director shows poor judgement and likely doesn’t understand that upping one director’s fee will change the fees of the whole board. She also perhaps shows a bias towards short-term thinking.</p>
<p>Kathryn should start over, as none of the other candidates came close. She should also look for candidates from a wider pool than recommendations from her directors, friends, and acquaintances. If possible, use a professional search (many firms will reduce fees for non-profits) but, if not, at least use a database from her local governance institutions’ or organisations such as Women on Boards, Next Director, Board Direction, etc.</p>
<p>Clearly the board lacks understanding of Conflict of Interest and how it is disclosed and managed. They may also misunderstand of other aspects of governance. A director’s prime duty is to the interests of the organisation; interests of an individual they suggested as a board candidate should not take precedence and, once in a process, a director should not also refer the candidate elsewhere.</p>
<p>Rather than risk more disruption by tackling the director head on (especially if she still feels cross), Kathryn should arrange for a board review and some director development training to lift the collective understanding and value add from all her directors.</p>
</div>tag:altopartners.com,2005:News/23622024-02-29T09:43:33Z2024-02-29T09:47:32ZGovernance is crucial for family-owned businesses in rapidly changing environments : Extracts from Sorin Popa's Interview<div class="richtext"><p>Corporate governance. That’s the key to succession planning in family-owned businesses in Romania, according to <a href="/profile/80-sorin-popa">Sorin Popa</a>, Managing Partner Accord Group Resurse Umane / AltoPartners Romania.</p>
<p>Popa, who has been working in executive search in the country for decades, says he first started working with family-owned businesses about 18 years ago. He recruited a chief financial officer for a large company - who is still there. <em>“I guess I got it right that time,”</em> he says.</p>
<p>The picture Popa paints is that of a rapidly shifting economic and corporate environment. In that landscape, family-owned businesses in the country are only now moving from first-generation leadership to second-generation leadership. That’s because private ownership of business entities only became possible after the 1989 revolution.</p>
<p>The relative youth of the sector does not mean it is small - Popa says there are several very large companies which are family-owned. As is typical of family-owned businesses, they are characterised by agility. <em>“They are very fast. They’re adaptable. There are no boards of directors to approve a decision, the boss just does it,”</em> he says.</p>
<p>That can also cause some problems. Popa says he’s seen some situations where there seems to be a lack of distinction between the business’s finances and the family’s finances. And the focus on adaptability can lead to a lack of strategic thinking.</p>
<p>In the transition from first to second generation, challenges can often be traced back to the founder of the company. Popa’s observations:</p>
<ul>
<li>
<p>The founders know everything, they know how to run their companies.</p>
</li>
<li>
<p>They work on personal chemistry</p>
</li>
<li>
<p>They feel as if they are bringing someone into their home (if they hire from outside)</p>
</li>
<li>
<p>You have to let founders think something was their own idea (ego is a big problem)</p>
</li>
<li>
<p>People take a lot of shortcuts</p>
</li>
</ul>
<p>In those circumstances, Popa says the most helpful thing a company can do is to focus on governance.
In his work with family-owned businesses in other European markets, he’s seen companies bring in professionals to their boards as non-executive directors. <em>“It is time we start to look at this in Romania - and indeed, in the last five to 10 years, I’ve started to see family-owned businesses adding people from different backgrounds, from different industries, to pick their brains in order to succeed.”</em></p>
<p>Once a company has established a board of directors with some outside expertise, he advised them to look at the talent within their own ranks, even if that person is perhaps not a member of the family. <em>“It is hard to graft someone in from the outside,”</em> he says, recommending market mapping. He also advises looking for people who have worked for a FOB before, along with corporate experience.</p>
<p>READ <a href="https://altopartners.com/news/2023-altopartners-global-white-paper-solving-the-puzzle-on-succession-planning-in-family-owned-businesses-global-insights-and-trends-2023">AltoPartners White Paper on succession planning in family-owned businesses</a></p>
<iframe src="/storage/blobs/redirect/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaHBBcFVKIiwiZXhwIjpudWxsLCJwdXIiOiJibG9iX2lkIn19--1e7c9afd49088bb50838bdb3b6f3a65a75704958/Solving%20the%20puzzle%20of%20succession-10th%20Dec%20.pdf" class="document-embed-iframe"></iframe>
</div>tag:altopartners.com,2005:News/23592024-02-28T08:14:57Z2024-02-28T08:14:57ZThe Company We Keep : Regina Graf<div class="richtext"><p><a href="/profile/1279-regina-graf">Regina Graf</a>, Managing Partner and Owner, MPB Recruitment Group AG / AltoPartners Switzerland.</p>
<p><strong>WHERE WERE YOU BORN, AND WHERE DO YOU LIVE NOW?</strong></p>
<p>I was born in Gidrostroitel near Bishkek in Kyrgyzstan. We moved when I was just five years old and I grew up in Freiburg, Germany. For the past 11 years, I have lived in Bottmingen, a lovely place near Basel in Switzerland.</p>
<p><strong>WHAT DID YOU STUDY AND WHY?</strong></p>
<p>I obtained a Bachelor’s degree in Financial Services at DHBW in Lörrach, in southern Germany, and completed my Master’s in General Management at HFH in Stuttgart as I knew I wanted to run my own business. I submitted my thesis in the same year I gave birth to my daughter, so two very special milestones in one.</p>
<p><strong>FIRST JOB?</strong></p>
<p>Financial Consultant at Deutsche Vermögensberatung, close to Freiburg in a place called Waldkirch. I have a soft spot for the town as I started my first consultancy there. After the financial crisis in 2008, I decided to switch industries and, by chance, got into headhunting. And so began my second career.</p>
<p><strong>FIRST CAR?</strong></p>
<p>A silver Peugeot 208 cc, convertible. Pure freedom!</p>
<p><strong>CURRENT CAR?</strong></p>
<p>Audi A5 Sportback. Plenty of room and it looks cool too.</p>
<p><strong>WHAT’S THE BIGGEST SURPRISE ABOUT YOUR JOB?</strong></p>
<p>The number of companies that still operate along strict hierarchal lines, with bosses making all the decisions, despite all the literature extolling the merits of flat management structures with spread accountability. There is a lot of merit in everyone knowing who is in charge, and the stability and consistency that provides.</p>
<p><strong>BIGGEST RISK YOU EVER TOOK?</strong></p>
<p>Buying MPB Recruitment. It was a big step, especially as a young single mom.</p>
<p><strong>WHAT MAKES YOU FEEL BETTER ON A BAD DAY?</strong></p>
<p>Music – of every kind. I can play the piano and I love to dance. I go to clubs just to feel the music.</p>
<p><strong>MY MOST REDEEMING QUALITY IS…</strong> I can handle difficult situations with a smile.</p>
<p><strong>I HAVE LEARNED TO COME TO TERMS WITH…</strong> the fact that I can’t sit in front of a computer for hours at a time looking at facts and figures. I need more variety than that.</p>
<p><strong>WHAT’S THE THING THAT PEOPLE ARE MOST SURPRISED TO LEARN ABOUT YOU?</strong></p>
<p>How strong I am on the inside, even though I’m not very tall. I am much tougher and more resilient than my petite frame suggests.</p>
<p><strong>IN THE LAST MONTH, WHAT IS THE MOST INTERESTING CONVERSATION YOU HAVE HAD?</strong></p>
<p>I had a profound conversation with a well-known government official about the challenges he overcame to succeed in public life. Usually, people assume such individuals had secure and stable upbringings. His story was both touching and inspirational.</p>
<p><strong>LAST (OR MOST LOVED) HOLIDAY?</strong></p>
<p>A road trip across California with my sister. I so admired the friendly, relaxed, can-do approach of the people we met along the way.</p>
<p><strong>BEST BOOK YOU’VE READ IN THE PAST YEAR?</strong></p>
<p><em><a href="https://leanin.org/book">Lean In: Woman, Work, and the Will</a></em> to Lead by Sheryl Sandberg.</p>
<p><strong>WHAT HAVE YOU BINGE-WATCHED RECENTLY?</strong></p>
<p><a href="https://en.wikipedia.org/wiki/The_Dropout">The Dropout</a> on Netflix, about the Elizabeth Holmes scandal. Utterly gripping and a timely reminder of the importance of ethics in tech.</p>
<p><strong>BEST GADGET?</strong></p>
<p>My e-scooter.</p>
<p><strong>HOW DO YOU RELAX AND UNWIND?</strong></p>
<p>I like to treat myself to “me time.” For my last birthday, I went to a spa hotel, read a book, and had dinner at a Japanese restaurant with a beautiful view. It was so relaxing.</p>
<p><strong>CHARITY/ CAUSE CLOSEST TO YOUR HEART?</strong></p>
<p><a href="https://rokj.ch/">ROKJ</a>, the organisation I helped set up under the auspices of the Rotary Club of Allschwil to give economically and socially disadvantaged children and young people in the Basel area access to opportunities to help them integrate into their communities and realise their dreams.</p>
<p><strong>I HAVE A COLLECTION OF…</strong> peak caps from different football teams, some from when I lived in San Diego. I wear them often – they’re both cosy and stylish.</p>
<p><strong>IN MY FRIDGE, YOU WILL ALWAYS FIND…</strong> very good gin. My favourite is Hendrick’s paired with cucumber, pepper, and Fever-Tree tonic. Delicious!</p>
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</div>tag:altopartners.com,2005:News/23562024-02-27T09:16:48Z2024-02-27T09:17:51ZAsk Alto: Trends transforming workplaces in 2024: how ready are you?<div class="richtext"><p><img alt="Ask Alto" class="" src="https://altopartners.com/storage/representations/redirect/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaHBBZ1lEIiwiZXhwIjpudWxsLCJwdXIiOiJibG9iX2lkIn19--16da4d2d337ba6f735ad792a1267d6d13ea6d569/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaDdCem9MWm05eWJXRjBTU0lJY0c1bkJqb0dSVlE2RW5KbGMybDZaVjkwYjE5bWFYUmJCMmtDV0FJdyIsImV4cCI6bnVsbCwicHVyIjoidmFyaWF0aW9uIn19--dd9f121749ac618668b2d09f09b069432bbd670c/%23AskAlto.png" /></p>
<p><em>“Sometimes it feels like we’re being punished for the freedom we had during the pandemic like our company wants to exert control pointedly. I feel they don’t trust me and that I’m being treated like a child. Most of my co-workers and the middle managers can’t see the logic of being forced to be at the office eight hours a day but we all feel like we’re being watched. Everybody resents it.” – Olivia (name changed), online content marketer in Seattle.</em></p>
<p>The <a href="https://kpmg.com/xx/en/home/insights/2023/09/kpmg-global-ceo-outlook-survey.html#talent">KPMG 2023 CEO Outlook</a> report surveyed 1,325 CEOs across 11 regions and 11 business sectors and found that a majority (64%) anticipate a full return to office over the next three years. And 87% of CEOs said they were likely to reward employees (raises, promotions) for coming into the office.</p>
<p>That may not be the way their employees (like Olivia in Seattle) see things though. A recent <a href="https://www.ringover.com/blog/remote-work-rugpull">survey of workers</a> in the United States found that two-thirds of people (66.5%) supported remote work, while 85% thought all jobs, where possible, should be remote-first. Strikingly, nearly two-thirds of people (62.8%) said that they would be prepared to accept a lower salary if it meant they could continue to work from home.</p>
<p>These conflicting views about where people should work, and where they might be most productive, are part of a larger set of sea-changes predicted for organisations globally in 2024. We look at four issues likely to be on C-Suite to-do lists as the year gets under way.</p>
<p><strong>Trend 1: Where am I working, and why? Employee value propositions (EVPs) remade</strong></p>
<p>Differing perceptions of the remote/hybrid/in-office proposition are not just about the freedom to work in your sweatpants. Concerns about a desired physical place of work are easy to understand at a surface level, but it goes deeper. <a href="https://www.gartner.com/en/articles/9-future-of-work-trends-for-2024">Gartner says</a> many workers are now calculating the cost of coming into the office in terms of time and money and finding that the maths doesn’t quite work for them.</p>
<p>It’s not just about money. <a href="https://www.gallup.com/workplace/511994/future-office-arrived-hybrid.aspx">Gallup research</a> indicates that <strong>how</strong> people are managed has about four times as much influence on employee engagement and well-being as their <strong>work location</strong>. As Gallup <a href="https://www.gallup.com/workplace/547283/workplace-trends-leaders-watch-2024.aspx">points out</a> “it’s the relationships workers have – with their coworkers, managers, leaders and organisation – that are significantly evolving”.</p>
<p>That means that to significantly improve their EVPs, leaders need to deepen and expand their practice: communicating clearly, leading and supporting change, and finding ways of working that acknowledge the <a href="https://altopartners.com/news/2024-ask-alto-what-are-agile-leadership-principles-and-how-can-they-help-businesses-cope-with-rapid-change-in-2024">rapid changes</a> affecting them, their organisations and their staff.</p>
<p><strong>What leadership needs to look at:</strong></p>
<ul>
<li>
<p>Think about working with individualised preferences in ways that close the gap between what companies need and what workers want.</p>
</li>
<li>
<p>Consider negotiating a company policy about who will bear the cost of work: if a formerly remote worker is now spending two hours commuting to honour an RTO mandate, will they be compensated for that?</p>
</li>
<li>
<p>Work on making employee support plans more explicit and transparent. For instance, will you support employees in the event of severe climate change events? If so, how?</p>
</li>
<li>
<p>If you choose to go hybrid, empower teams to collaborate more effectively, revise performance management systems, and train managers to be hybrid coaches.</p>
</li>
<li>
<p>Use <a href="https://www.imd.org/ibyimd/2024-trends/workplace-trends-to-watch-in-2024/">data</a> to define flexible work strategies rather than making decisions that suit top management. Run surveys about the pros and cons of remote work or other workplace flashpoints and consult with others in your industry to inform strategies.</p>
</li>
</ul>
<p><strong>Trend 2: Shifts in the way in which diversity, equity and inclusion (DEI) initiatives are implemented</strong></p>
<p><a href="https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/the-state-of-organizations-2023">McKinsey</a> notes a widespread lack of progress in translating DEI initiatives into meaningful progress. Global leadership consulting firm <a href="https://www.ddiworld.com/glf/diversity-equity-inclusion-report-2023">DDI’s 2023 Diversity, Equity, and Inclusion Report</a> found that leader advocacy for DEI programmes has dropped by 18% since 2021. At the same time, the percentage of businesses without DEI initiatives has risen by 5 percentage points. Whether this is a temporary response to post-Covid economic headwinds and geopolitical tensions remains to be seen, but the long-term success of organisations will depend on how well companies do in this field.</p>
<p>That success will mean doing the hard work of embedding DEI within organisations rather than working in silos. And that trend may now be under way. An <a href="https://www.aesc.org/insights/research/aesc-diversity-equity-inclusion">Association of Executive Search and Leadership Consultants (AESC) 2023 “Diversity, Equity & Inclusion” report</a> suggests that many organisations are putting DEI into the heart of their business strategies, rather than viewing them as add-ons.</p>
<p><strong>What leadership needs to look at:</strong></p>
<ul>
<li>
<p>Holding themselves accountable and applying new ideas – which can and should be generated in collaboration with employees – to drive change that improves organisations and their business outcomes.</p>
</li>
<li>
<p>Reaching beyond their own walls and driving improvements in their industries and communities.</p>
</li>
<li>
<p>Remembering that movements dependent on a single individual or team can suffer from “founder’s syndrome”. When the creator or advocate of a movement leaves the organisation, the initiative or programme can falter. Without practices, policies and champions at each level of an organisation, DE&I initiatives will fail if they are not supported by institutional memory.</p>
</li>
</ul>
<p><strong>Trend 3: Disruption to skills and career paths</strong></p>
<p>The <a href="https://www.weforum.org/agenda/2024/02/work-and-workplace-trends-to-watch-2024/">World Economic Forum</a> says that businesses predict that almost half (44%) of workers’ core skills will be disrupted by 2027, because technology is moving faster than companies can design and scale up their training programmes. Artificial intelligence (AI) is but one disruption factor; the green transition and geo-economic conditions will also see “churn” for almost a quarter of jobs by 2027. A 2023 AESC <a href="https://www.aesc.org/media/image/report-snapshot-2023-state-profession">“State of the Profession”</a> report identifies sustainability and ESG-related roles as emerging trends, along with roles related to digital transformation, including data privacy and cyber security.</p>
<p>Gartner notes other shifts in the skills market. A tight labour market and declining undergraduate graduation rates has led organisations to dismantle the “paper ceiling” and hire workers with alternative credentials. Rising retirement ages, midcareer breaks, shifts across industries and the rise of nontraditional employment models like digital nomadism and gig work are also bringing sweeping change to workplaces.</p>
<p><strong>What leadership needs to look at:</strong></p>
<ul>
<li>
<p><a href="https://executiveeducation.wharton.upenn.edu/thought-leadership/wharton-at-work/2020/02/close-your-companys-talent-gap/">Prioritise internal development and mobility</a>: Provide career paths that allow talented young employees to experience several roles quickly. This will lower attrition, accelerate learning, and get the right people to the right roles sooner. This approach requires a flexible human capital model, aggressive mentoring, and just-in-time training to ensure productivity.</p>
</li>
<li>
<p>External recruiting: Targeted external hires, using an experienced search consultant, may be your path to accelerate innovation, provided there is a good fit with the company’s purpose and objectives.</p>
</li>
<li>
<p>Partners and freelancers: Partnering with emerging technology specialists is an option. Contract talent can be put to work immediately or can be used to mentor and develop your employees.</p>
</li>
<li>
<p>Skill grafting: Create teams with complementary skills, which means more employees with valuable hybrid skill sets.</p>
</li>
</ul>
<p><strong>Trend 4: The impact of artificial intelligence (AI)</strong></p>
<p>If it’s hard to escape hype around artificial intelligence, it’s even harder to predict what its impact on the workplace will be.</p>
<p>The WEF quotes most chief economists at its annual meeting in Davos in 2024 as believing that generative AI will increase productivity and innovation in high-income countries. But only a third think this will be the case for low-income countries.</p>
<p>The divide falls along predictable lines: AI is set to bring productivity boosts in knowledge-heavy industries, including IT and digital communications; in financial and professional services; in medical and healthcare services and in retail, manufacturing, engineering and construction, energy and logistics.</p>
<p>But there are concerns about the risks of automation, job displacement and degradation. In fact, almost three-quarters (73%) of chief economists surveyed by WEF “do not foresee a net positive impact on employment in low-income economies”.</p>
<p>In developing countries, concerns about technology in general are often voiced by labour unions, protective of their members’ jobs. In a recent <a href="https://altopartners.com/news/2024-the-altopartners-spotlight-on-mining-talent-strategies-for-an-industry-in-transition-2024">global AltoPartners article</a> examining talent strategies for the rapidly changing mining industry, Takalane Khashane, Director of Search Partners International (SPi) / AltoPartners South Africa, predicts that technological change will bring different jobs rather than fewer jobs. She counsels education, diplomacy, transparency, and engagement in such transformations.</p>
<p>Globally, there is room for hope if the challenge is met with the right tools. Gilbert Fossoun Houngbo, Director-General of the International Labour Organization (ILO), says the impact of AI on jobs is not going to be “an employment apocalypse”, but that reskilling, upskilling and lifelong learning would be key to managing the transition to business sustainability.</p>
<p><strong>What leadership needs to look at:</strong></p>
<ul>
<li>
<p>Think about using AI to create sustainable talent pipelines, dramatically improve ways of working, and make faster, data-driven structural changes.</p>
</li>
<li>
<p>To avoid reputational, regulatory and legal issues, ensure your teams have access to training to develop judgement around information validity, unconscious bias, data protection regulations and how and when to use generative AI tools.</p>
</li>
<li>
<p>Use AI to increase employee engagement and simplify some basic processes. For example, AI-driven sentiment analysis can be used to handle employee engagement surveys.</p>
</li>
<li>
<p>In areas like recruiting and onboarding, strike a balance between using AI to increase efficiency (processing all those CVs) without dehumanising the company and damaging its reputation.</p>
</li>
</ul>
<p><strong>Above all, it’s about purpose and culture</strong></p>
<p>It’s not all doom and gloom. Lars Häggström, Senior Adviser at the Institute for Management Development and a former CHRO at Stora Enso, Nordea and Gambro, <a href="https://www.imd.org/ibyimd/2024-trends/workplace-trends-to-watch-in-2024/">sees</a> a growing preoccupation among executive leadership with creating passion and energy around an organisation’s purpose and culture, particularly if staff aren’t present physically.</p>
<p>He writes that a recent survey of over 40 leading Swedish companies found that fostering stronger, clearer, and more engaged leadership is a top priority. To that end, a leadership model that prioritises trust over control will lead with purpose and intent, starting with co-creating priorities and goals, and provide opportunities to regularly communicate with staff via online and face-to-face meetings.</p>
</div>tag:altopartners.com,2005:News/23532024-02-23T08:25:17Z2024-02-23T08:25:17ZFredrik Hillelson Awarded the 8th size in the ribbon of the Order of the Seraphim for outstanding social contributions by H.M. The King of Sweden<div class="richtext"><p><img alt="Fredrik Hillelson" class="" src="https://altopartners.com/storage/representations/redirect/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaHBBb01MIiwiZXhwIjpudWxsLCJwdXIiOiJibG9iX2lkIn19--7f3c1a0e22a0af11a3b00ebd2f5f167581f0e170/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaDdCem9MWm05eWJXRjBTU0lKYW5CbFp3WTZCa1ZVT2hKeVpYTnBlbVZmZEc5ZlptbDBXd2RwQXBBQk1BPT0iLCJleHAiOm51bGwsInB1ciI6InZhcmlhdGlvbiJ9fQ==--5aa9b17357dea33b288bc3a1588ab5af4d9e4583/1708613128808.jpeg" /></p>
<p>Congratulations to <a href="/profile/820-fredrik-hillelson">Fredrik Hillelson</a>, Founder of Novare Group, co-founder of <a href="https://www.beredskapslyftet.se/english">Beredskapslyftet</a> and AltoPartners Global Operating Committee member, on being awarded the 8th size in the ribbon of the Order of the Seraphim for outstanding social contributions by H.M. The King of Sweden</p>
<p>The King presented H.M. The King’s Medal and Litteris et Artibus during a ceremony in Queen Lovisa Ulrika’s Dining Hall at the Royal Palace Castle.</p>
<p>Since its inception in 2020, Beredskapslyftet (Skills Shift Initiative) has worked to support society in crises and major events. Today they have four ongoing projects:</p>
<p><strong>The right curve</strong></p>
<p>A crime prevention program with the aim of reducing the recruitment of children between the ages of 8 and 15 to criminal gangs, and to open doors that lead away from crime.</p>
<p><strong>Reskilling Ukraine</strong></p>
<p>The project focuses on reducing unemployment among women in Ukraine by offering training in occupations with a shortage of labour, such as truck drivers. In February 2024, the first group graduated in Kyiv, who are now ready to start working as truck drivers.</p>
<p>A <strong>cultural center</strong> with the aim of giving Ukrainians who have come to Sweden a place to meet and continue to take part in Ukrainian culture.</p>
<p>A <strong>job centre</strong> to help Ukrainians, who have fled to Sweden in connection with the invasion of Ukraine, find work.</p>
</div>tag:altopartners.com,2005:News/23502024-02-22T08:34:20Z2024-02-22T08:34:20ZSuccession planning in family-owned business takes trust and time : Extracts from Corinne Klajda's Interview<div class="richtext"><iframe src="/storage/blobs/redirect/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaHBBcFVKIiwiZXhwIjpudWxsLCJwdXIiOiJibG9iX2lkIn19--1e7c9afd49088bb50838bdb3b6f3a65a75704958/Solving%20the%20puzzle%20of%20succession-10th%20Dec%20.pdf" class="document-embed-iframe"></iframe>
<p>Trust is the key factor in a successful leadership transition, says <a href="/profile/73-corinne-klajda">Corinne Klajda</a>, Managing Partner Accord Polska / AltoPartners Poland.</p>
<p>When the economy opened up after the fall of the Iron Curtain in 1989, multi-nationals moved in. But that’s changed - small and medium-sized enterprises are now the backbone of the economy. These include family-owned businesses, many of which have now reached the stage where their owners are looking at retiring (or going global) and they need to think about succession.</p>
<p><em>“It seems straightforward, but it’s one of the biggest challenges that business-owners face,”</em> Klajda says.</p>
<p>Even in large companies, it is not just an economic decision. The first line of owners are visionaries and they see these companies are their children. Because of that there’s complexity around who is ready to let go, and who is ready to take over.</p>
<p><em>“One option, which is the very straightforward one, is for people to just pass the shares to their children. And then those children are supposed to be ready-made successes. And very often, they might not want those shares, not just from a competence or capabilities perspective, but also from interest. They want to do other things. And this is where there’s a lot of challenges. Very often, this is where we get called in to try to find an interim solution.”</em></p>
<p>Klajda says the single most important factor in a successful transition is time – lots of it. <em>”It seems like a rational thing to solve. But there’s a lot of emotions.”</em> She says boundaries need to be established. “And then we need everybody to work on their own self-awareness to understand why they are not able to find a solution. Once they find this, then it’s much easier. It also helps if the children go and do their own thing and then come back and take over. And if they go over to other industries or other businesses, when they come back, they are also more credible to the team.</p>
<p>Klajda is a huge supporter of family-owned businesses. <em>“People ask me: if I had a choice to work in a family-owned business, or in a multinational, what should I do? I usually tell them, the brightest people usually come from a family-owned business. Because in a family-owned business, you have nowhere to hide. In a multinational, there’s a lot of silos, you don’t have to be the brightest, you will still manage to climb the ladder. People in family-owned businesses will have a much higher level of adaptability. And they are more rounded. They’ve been exposed to more.”</em></p>
<p>READ <a href="https://altopartners.com/news/2023-altopartners-global-white-paper-solving-the-puzzle-on-succession-planning-in-family-owned-businesses-global-insights-and-trends-2023">AltoPartners White Paper on succession planning in family-owned businesses</a></p>
</div>tag:altopartners.com,2005:News/23472024-02-21T05:34:03Z2024-02-21T05:34:03ZThe Company We Keep : Petter Fafalios<div class="richtext"><p><a href="/profile/1377-petter-fafalios">Petter Fafalios</a> is Equity Partner at <a href="https://www.kingbird.no/">Kingbird Executive Search</a> and Country Manager for AltoPartners Norway. His main areas of focus include CxO and board member placements across leading industry sectors.</p>
<p><strong>Where were you born, and where do you live now?</strong></p>
<p>Drammen, a city of just over 100,000 people, less than an hour’s drive southwest of Oslo. Now, I live with my family close to the fjord at Vinterbro, population approx. 8,000.</p>
<p><strong>What did you study and why?</strong></p>
<p>Bachelor’s degree in Export Marketing (Norway & Germany). I wanted to combine my multicultural heritage with a degree that focused on people. My father was Greek, my mother is Cypriot and I was born and grew up in Norway. And since I already spoke English fluently, I wanted to learn German as well.</p>
<p><strong>First car? Current car?</strong></p>
<p>My first car was a prehistoric Lada (from the old Soviet Union) and now I drive an Electric Jaguar.</p>
<p><strong>First job?</strong></p>
<p>Export Marketing representative at Benthin Sonnenschutz GmbH (the world’s biggest manufacturer of vertical blinds and awnings).</p>
<p><strong>What’s the biggest surprise about your job?</strong></p>
<p>Just how much we need to know about our client’s industry and how their business functions. This enables us to attract ideal candidates within the industry but also to widen our client’s options by providing candidates from ecosystems outside their perceived hunting grounds.</p>
<p><strong>Biggest risk you ever took?</strong></p>
<p>I started mountain climbing to cure my fear of heights. The climbing is done and the fear has gone…</p>
<p><strong>What makes you feel better on a bad day?</strong></p>
<p>Changing my focus to the right mental attitude. Bad days are only a result of letting someone or something impact me negatively. It’s up to me, only, to decide if I want to have a bad day.</p>
<p><strong>My most redeeming quality is…</strong></p>
<p>The ability to handle challenging situations rationally: understand the root cause to avoid repeating the experience - and then move on.</p>
<p><strong>I have learned to come to terms with…</strong></p>
<p>Accepting or avoiding the things that I’m unable to have an impact on.</p>
<p><strong>Best gadget you own?</strong></p>
<p>My <a href="https://amokequipment.no">Amok</a> - a combination of a hammock and tent.</p>
<p><strong>What’s the thing that people are most surprised to learn about you?</strong></p>
<p>Despite my line of work (which I love) – I’m an introvert at heart.</p>
<p><strong>In the last month, what is the most interesting conversation you have had?</strong></p>
<p>I followed up with an IT director that we had recruited for a scale-up portfolio company owned by private equity. Nine months after her start, they got a new CEO from the UK, who decided to move all top management positions from Oslo to London. Despite being barely 30 years old, the IT Director impressed me with her rational approach to the situation.</p>
<p><strong>Last (or most loved) holiday?</strong></p>
<p>Santorini. We headed to the north end of Santorini, where you get this awesome mix of blue seas, towering cliffs, and a blend of old-school charm with some fancy new touches. The village of Oia, which hangs on the cliffs, treated us to jaw-dropping sunsets and some seriously good Mediterranean food in a sublime setting.</p>
<p><strong>Charity/ cause closest to your heart?</strong></p>
<p>Besides always contributing to charity collectors knocking on our door, I don’t have any specific commitment.</p>
<p><strong>Best book you’ve read in the past year?</strong></p>
<p><a href="https://www.goodreads.com/en/book/show/144711751">Machines that think</a> - the secrets of algorithms and the road to artificial intelligence, by Inga Strümke. A fascinating and accessible must-read if you’re interested in the challenges and opportunities that artificial intelligence presents.</p>
<p><strong>Your binge-watch series?</strong></p>
<p><a href="https://en.wikipedia.org/wiki/Fauda">Fauda</a> on Netflix. A challenging, sensitive, nuanced take on the conflict between Israeli special forces and Palestinian militant groups.</p>
<p><strong>My go-to way to relax & rewind?</strong></p>
<p>Packing the sea kayak with my sleeping bag and Amok and paddling off between islands on the outskirts of the Oslo fjord.</p>
<p><strong>I have a collection of…</strong></p>
<p>Our two teenage sons and their friends love to fix boats and cars in our garage. Over time, we have acquired a serious collection of specialist tools and machinery beyond what you would expect to find in a well-stocked DIY garage.</p>
<p><strong>In my fridge you will always find…</strong></p>
<p>Fresh fruit and vegetables.</p>
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