Energy/Mining And Industrials Requiring New Management For Innovation
Companies will continue to prioritise the acquisition of transformative leadership to face new challenges in the energy, mining and industrial sectors, according to the quarterly Executive Monitor released by Boyden Global Executive Search.
“The energy, mining and industrials today are among the most competitive sectors for management talent,” said Trina Gordon, President and CEO of Boyden World Corporation. “Competition is global and demand is so great that more companies are agreeing to go outside their own sectors to gain the senior executives they need to continue to transform and grow.”
The report includes analyses of key developments in the energy, mining and industrials sectors expected to impact talent acquisition into 2015, including global competition, increased investments in deep water and shale resources, new cost-effectiveness of manufacturing in the US and Eastern Europe, re-shoring to domestic markets, community activism and environmental awareness.
The report also adds the following to the human capital equation for key sectors:
•Very mobile talent pool, with nine in 10 executives willing to transition to a new role
•Strong upward trend in compensation
•New recruiting outside specialised sectors for additional talent
•Growth of renewables with opportunities in both mature and emerging markets
“Companies in the oil and gas sector are growing fast, and it’s not unusual for new multi-billion dollar businesses to be created in less than three years”, explained Tom Zay, Managing Partner of Boyden Houston. “The result is a spike in demand for executives from more mature industries who are adept at managing in global matrix structures and bring leading-edge skill sets in functional areas outside of the technical and operational disciplines in which most oil and gas businesses are founded.”
“The energy industry needs a massive investment in STEM studies to fill its future bench,” added Alicia Hasell, Managing Partner of Boyden Houston. “E&P companies are recruiting from the service companies, and the service companies are recruiting from the EPC companies.”
•Active boards and shareholders often calling for new leadership
•Demand for senior executives with operational expertise and sector-specific skills
•Future planning for ageing management
“The top echelon of executives in the resources sector remains tight, and those who rank highly are often the hardest to move,” said Michael Catlow, Managing Partner of Boyden Australia and New Zealand. “The ‘war for talent’ continues despite the slowing of the investment boom.”
“In addition to the strong focus on costs, increased environmental awareness and investment has resulted in more vocal communities who are aggressively pursuing challenges to projects,” said John Byrne, Managing Partner of Boyden Chile. “This shift has increased legal costs and pre-approvals, which requires a different type of executive who must not only be focused on the project and its technical difficulties but also on bonding with local stakeholders.”
Industrials and Manufacturing
•Finding executives able to move forward innovation is a significant challenge
•Transformative management talent is being aggressively recruited
•Cultural fit is becoming an increasingly important factor
“Expansion and sourcing strategies have shifted from Asia/Pacific to Central and Eastern Europe and the Americas,” said Rainer Faistauer, a Partner at Boyden Switzerland. “Executives who can maximise operational efficiency and seamless processing and also meet compliance standards are in high demand.”
The full Boyden Executive Monitor report is available at www.boyden.com.
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