CEO Census 2012 - Stanton Chase International Finland
Stanton Chase Finland CEO Census 2012
General overview Key resultsStanton Chase International is one of the The three most important findings of theworld‘s leading executive search companies survey are:with over 70 offices and more than 350 1. Cautious optimism: Finland’s topspecialised consultants around the world. executives signalled good expectations for the next 12 months. Large majority have somewhat optimistic or optimisticIn order to examine and analyse the top view on Finland’s economic prospects,level recruitment markets Stanton Chase and two thirds expect it to behas completed surveys of C-level executives sustainable. Hence the atmospherein several countries around the globe, affecting investment and recruitmentAustria, Czech Republic, United Arab decisions is cautiously optimistic.Emirates to name a few, and now the samewas conducted in Finland too. Stanton 2. High level of willingness to moveChase carries out these C-level executive jobs: Over 80 per cent of respondentssurveys in order to examine the general are open to suggestions or activelyeconomic trends and the executive job seeking new employment opportunities.market This is a significantly large number, and the major reason in changing jobs for C-level executives is dissatisfactionThe survey was sent to over 700 executives with management. This result is in lineand responses were received from over 100 with other CEO surveys conducted byC-level executives. The survey consisted of Stanton Chase in other countries.27 questions in four different categories; 3. Unwillingness to relocategeneral economic prospects, executive job internationally: Despite a globalizingmarket and placement, company strategy world, increasingly global markets andand general information of respondents. The international growth opportunities,participants in the survey come from wide majority of respondents do not valuerange of industries; professional services, international relocation as major factorindustry, consumer goods, life sciences, when considering change intechnology, public sector and financial employment. This is in line with findingsservices. Majority of the respondents were in of Executive Search Consultants on thethe age group 40-55 and have been in a field; top executives are often marriedmanagement position for over 10 years. to highly educated spouses with children – finding equal opportunities for families when relocating internationally is challenging.
1. How optimistic are you for the economic and Majority of the respondents are business growth of Finland in the next 12 months? optimistic regarding Finland’s economic prospects, but the Not general view is cautious; there are optimistic a lot of potential risks available. Somewhat optimistic Optimistic Very optimistic 0,0% 20,0% 40,0% 60,0%Two thirds of C-level executives 2. Do you trust the economic recovery to be lasting?believe the economic recovery willbe lasting. Hence the generalatmosphere is cautious sustainablegrowth, not strong growth. 33 % 67 % Yes No
3. How optimistic are you of your companys prospects in the next 12 months? Not optimistic Virtually all executives are optimistic of their own company’s prospects in Somewhat the near future. This is a positive sign optimistic regarding for example recruitment and investment decisions in the near Optimistic future. Very optimistic 0% 20% 40% 60% 4. Which market sectors do you think will offer career opportunities for top executives in Finland?In the near future technology, Professional Servicesprofessional services and life Public Sectorsciences (including Life Scienceshealthcare) will provide most Financial Servicesopportunities for topexecutives. Industrial Technology Consumer Products 0% 20 % 40 % 60 % 80 % 100 % None Few Many Most 5. Which market sectors do you expect to grow most during next year? This is similar to previous answer, technology and life sciencesProfessional Services (including healthcare) will display Public Sector the best growth rates next year. Life Sciences Financial Services Industrial Technology Consumer Products 0% 10% 20% 30% 40% 50%
6. Which market sector are you working in? Consumer Products Technology Industrial Financial Services Life Sciences Public Sector Professional Services 5% 6% The spread of respondents covers all 19 % industries rather well, majority working 10 % technology and almost similar portions in industrial, consumer products and 19 % 18 % professional services. 23 % 7. In which of the following functions do you believe there isSales, general management and shortage of skills?IT skills are the most sought afterin executives’ labour market. Other IT Finance Production Supply Chain Marketing Sales HR General Management 0% 10% 20% 30% 40% 50% 60% 8. In your opinion what is the most important action in your company next year? Increasing or sustaining cash flow is the most important action for Employee dismissal companies next year. Some Employee retention restructurings will also be made. Cost reduction Business restructuring Attracting talentSustaining / Increasing cash flow 0% 10% 20% 30% 40% 50% 60%
9. What do you think organizations seek from their CEOs in order Change management to stay competitive in the local & regional markets? experiences is the most valued skill for CEO’s, Mobility followed by flexibility and Strong values creativity management. Flexibility Multicultural experience Change management Creativity management Productivity management 0% 20 % 40 % 60 % 80 % 100 % Indifferent Not Important Somewhat Important Very Important 10. Compared to last year, would you describe the atmosphere in your company to be Most companies report better atmosphere in their companies 60% this year compared to last. 50% 40% 30% 20% 10% 0% Better Worse Same 11. Please describe the current atmosphere in your company Majority of the companies have optimistic or somewhat optimistic atmosphere in their company Other currently. Not opistimisticSomewhat optimistic Optimistic Very optimistic 0% 10% 20% 30% 40% 50% 60%
12. Compared to last year, how content are you with your current job situation? Majority of the respondents are content or very content with 60% their job situation at the 50% moment. 40% 30% 20% 10% 0% Very content Content DiscontentDespite the executives being 13. How interested are you in new career opportunities?content with their jobopportunities, over 80% of them Not interested at all 1,9%are willing to leave theircompanies in the near future.This is one of the most significant Interested in the longer term 5,6%results of the survey. Not interested for the next 2 - 3 years 11,2% I am open to suggestions 72,9% Im usually searching new opportunities 8,4%
14. How important are the following factors in your job satisfaction? Level of autonomy/ independence Work-life balance Fit with culture Match with the boss Level of managerial responsibility Job security Stress level Compensation & benefits package Challenge/ personal growth Advancement opportunities 0% 10 % 20 % 30 % 40 % 50 % 60 % 70 % 80 % 90 % 100 % Not Important Somewhat Important Very ImportantThe most important factor in job satisfaction is challenge and personal growth, but alsoautonomy, level of responsibility and match with management are very important factors inexecutives’ job satisfaction. 15. What factors would lead you to consider changing employment? Starting own company Responsibility without authority Re-organization within the company Lack of work-life balance Poor financial performance of the company Inadequate salary & benefits Difficulty with shareholder cooperation Dissatisfaction with management Lack of career opportunities Lack of training & development 0 % 10 % 20 % 30 % 40 % 50 % 60 % 70 % 80 % 90 %100 % Not important at all Not very important Neutral Important Very important Dissatisfaction with management is the biggest reason for executives to change or consider changing employment, but salary level and lack of authority also affect this decision. This is significant, when compared with willingness to change jobs; it seems majority of executives are considering employment change due to bad management.
16. Which would be the important factors for your to join a new employer? Change to a completely new career Increase functional experience Increase industry experience More entrepreneurial role International relocation Increased authority Increased responsibility Increased compensation & benefits 0 % 10 % 20 % 30 % 40 % 50 % 60 % 70 % 80 % 90 % 100 % Not important at all Not very important Neutral Important Very importantMost important factors affecting employment change are increased responsibility andcompensation. The surprising result is that executives no longer are willing to relocateinternationally; though this seems to have been a trend in Finnish market recently. 17. Which resources / strategies would you use to explore a change in your career? Internet job boards Recruitment advertisements Recruiting agenciesExecutive Search Consultants Networking 0% 10% 20% 30% 40% 50% 60% 70% 80% 90%Netoworking and Executive Search Consultants are the most important channels for careerchange for top executives.
18. What do you consider you need to develop in order to achieve your career goals? Other Develop a self-marketing plan Expand networkDevelop technical and personal skills Gain international experience 0% 10% 20% 30% 40% 50% 60%Expanding network is considered the most important area of developmentfor career goals. International experience is clearly not a top priority. 19. How long have you been in a management position?Majority of the respondents have 70%been in management position over 60%10 years, which merely confirms the 50%level of executives in the survey. 40% 30% 20% 10% 0% 0 - 2 years 2 -5 years 5 -10 years 10 or more years
20. How many years have you been in your current position?Most respondents have been 40%in their position 2-5 years or 35%less than that. It seems that 30%an ”ideal” time for one 25%managerial position is 20%around 5 years. 15% 10% 5% 0% 0 - 2 years 2 - 5 years 5 - 10 years 10 - years 21. How long do you expect to stay in your current position? 50% 45% Most executives expect to leave 40% their current position within 5 years. 35% 30% 25% 20% 15% 10% 5% 0% 0 - 2 years 2 - 5 years 5 - 10 years 10 or more years
22. How old are you?30% Currently majority of C-level25% executives are in the range of 40-55 years, peaking at 40-45.20%15%10%5%0% 30 - 35 35 - 40 40 - 45 45 - 50 50 - 55 55 - years years years years years above 23. Gender 100%The respondents were almost entirely men,however this also indicates similar results to 80%recent studies in Finland according to which3% of operative business unit management 60%is held by women. 40% 20% 0% Male Female 24. Have you changed the industry you work in during your career? In executive job market industry change is possible and prevalent; No majority of respondents have changed the industry they work in during their career. Yes 0% 20% 40% 60% 80%
25. Have you contacted Executive Search Companies concerning the selection of your management team?60%50% A slight majority of respondents40% have contacted Executive30% Search Companies for their management team selection.20%10% 0% Yes No 26. Have you contacted Executive Search Companies regarding your career opportunities? 54%Also a slight majority has contactedExecutive Search Companies for 52%their own career opportunities. 50% 48% 46% 44% Yes No 27. In your opinion, is your company offering competitive conditions to attract and retain executive talent?80%70% Most respondents believe their60% companies provide competitive50% conditions which attract40% executive talent.30%20%10% 0% Yes No
Established in 1990, Stanton Chase Services provided by Stanton Chase:International is one of the world’s leading Executive Searchglobal executive search companies withmore than 70 offices in 42 countries. Board Services Management AuditsStanton Chase International has a strongpresence in the Finnish market, where it is International Practice Groups:one of the top five companies in its field.Stanton Chase Helsinki has also a strong Consumer Products and Servicesexpertise with companies operating in Financial ServicesRussia, especially Moscow which hosts Life Sciences and HealthcareStanton Chase partner office and also St.Petersburg, which presents large potential Logistics and Transportationfor both Finnish and international companies Industrialdue to large population and increasingdemand for talent. Professional Services TechnologyAll company partners have their ownPractice Group expertise and extensivelocal and multinational experience andreferences. They serve international clientsas well as strong local and national players.Partners: Contact Details:Asser Lindholm Stanton Chase International OyMikael Stelander Keilaranta 19Kalle Soikkanen 02150 EspooArto Sormunen +358 9 8874 060 firstname.lastname@example.org www.stantonchase.comResearchers / Analysts: www.stantonchase.fiSusanna KilpinenEssi HallvarVille Kämppi