Ceo survey 2011

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Ceo survey 2011

  1. 1. CEO Survey 2011 Going Forwardwww.stantonchase.com
  2. 2. General OverviewThe previous year was turbulent, challenging, without many great achievements. Indications for 2012are not much better. Without intention to display unrealistic optimism we wanted to change a bit theway of thinking, to move forward and look forward. In line with that, we tried to steer this Surveymore towards what to do next, rather than analyzing how bad it is and how we do not see the lightat the end of a tunnel. We think it is very important to look ahead, how to change the existing situa-tion and how each of us can contribute to that.This time again we had both Serbian and foreign CEOs participating in the Survey, thus showing thereal picture and an overall opinion of the leading people in companies operating in our market.The most of the CEOs have been in the leading position for over 5 years and the majority of themcome from Financial Services and Consumer Products. Slightly less than a half of the participants inthe Survey have worked in the same industry throughout their entire careers, whereas the rest havechanged their industries once or more, which gives us an additional value in the estimation of thecircumstances in the market.The unanimous opinion of both local and foreign CEOs is that the Consumer Products Sector will havethe best prospects for development in the next couple of years. They do not share the same opinionwhich sector is at the second place, local CEOs think it is Industry, and foreign say Logistics andTransport. They all agree that Life Science and Healthcare will experience a stagnation period.According to the local CEOs we can expect the biggest growth in IT Industry and Production, and theforeign CEOs are of the similar opinion, but in the reverse order, and they also add Logistics andTransport.It is the shared opinion that the market potential and the geographical location represent the majoradvantages of doing business in Serbia. It is interesting that the foreign CEOs place qualified staff at thethird position, while the local CEOs put it on the fourth place, in a considerably smaller percentage.On the other hand the main obstacles to successful business in Serbia are unclear legislation andinsolvency of companies. Neither here do the opinions match entirely, because foreign CEOs find thatcomplicated administrative procedures and infrastructure largely influence obstacles in work, whilethe local CEOs believe that social and political environment also have big influence.Regarding the business in the past year, the general opinion is that it went well, but that it surely couldhave been better. What was probably expected to be the most significant result and was pointed outas the best achievement are cost reduction and retention of employees. In Tune with the Local Connected to the World
  3. 3. The CEOs found giving up certain projects and reduction of business volumes to be most unsatisfactory. Inline with their opinion that the quality of staff is high, employees’ dismissal was also not easy for them.Talking about optimism from the beginning of this overview, it is difficult to spread it, especially whenmost of the CEOs expect the stagnation in this business year. If we want to watch this statistics from apositive angle, somewhat smaller percentage expects further deepening of the crisis. This gives usright to conclude that everyone will take necessary steps not to allow the pessimistic prognosesinfluence us and that the battle for progress will be strong and entirely unavoidable.Such opinion is based on the ideas of general managers in Serbia who plan to increase the businessvolume in this year and it is absolute priority to everyone. Positive consequence of this is planning ofhigher investments in employees’ development, as well as expansion in new markets. The followingcomments confirm this:- onsolidation of companies through introduction of new methodologies in business monitoring. C Bringing young talented staff, mostly from internal sources into newly formed managerial positions and intensive work on their development in these positions.- Cost optimization, better work organization and increase in employees’ satisfaction.The perpetual question is in which direction Serbia should move on concerning its economy andstrategy. CEOs have no dilemma that it is investment in agriculture, but they also believe that asimplified administrative procedures and infrastructure development must follow the economy. Hereis one comment:- he state must adapt to companies and not vice versa, because the state and its citizens live from T companies – an investor’s friendly environment must be created.This year saw bigger readiness of employees to change their jobs, either due to the instability in certaincompanies or lay-offs. Despite that, the CEOs do not think that the supply in the labor market was of ahigher quality. This does not differ from previous years and it is obvious that great investments in staffdevelopment are still needed, and it has been quoted as one of the priorities in the years to come.Another difficult period is behind us. Let us finish it like we started. We hope that a larger part of plannedactions will be implemented and that the result will be a much better evaluation of this business yearthan we are expecting right now. Finally, everyone should do their tasks, motivate the employees tofollow, inspire them for new ideas, we are sure it is the only possible way. The way forward.Enjoy reading until the new Survey. www.stantonchase.com
  4. 4. Experience as a CEOMost of the participants in the Survey have been CEOs for over five years.1. How long have you been a CEO? 24,5% 63,3% 1 – 3 years (24,5%) 3 – 5 years (12,2%) Over 5 years (63,3%) 12,2%IndustriesMost of the participants in the Survey come from the Consumer Products and Financial Services.2. What industry do you work in? 28,6% 26,5% Consumer Products (26,5%) Technology (14,3%) Logistics and Transport (2%) 14,3% Industry (12,3%) 12,3% 12,3% Financial Services (28,6%) Life Science and Healthcare (4%) 4% Professional Services (12,3%) 2% Government Institutions and Non-Profit Organizations (0%) In Tune with the Local Connected to the World
  5. 5. Change of industry during a careerMost of the participants in the Survey have changed the industry they work in.3. Have you changed the industry you work in during your career? 35,4% 45,8% Yes, once (35,4%) Yes, more than once (18,8%) No (45,8%) 18,8%Perspectives for growth and developmentAccording to the opinion of CEOs in Serbia, the Consumer Products Section and Industry have thebest perspective for growth in the next couple of years, followed by Logistics and Transport andProfessional Services.4. In your opinion, which industry in Serbia has best perspective for developmentin the next couple of years? 37,5% Consumer Products (37,5%) Technology (16,7%) 16,7% 27,1% Logistics and Transport (27,1%) 35,4% Industry (35,4%) Financial Services (12,5%) 12,5% Life Science and Healthcare (8,3%) 8,3% 22,9% Professional Services (22,9%) Government Institutions and 8,3% Non-Profit Organizations (8,3%) www.stantonchase.com
  6. 6. 5. Which sector do you think will have the biggest growth in the next period?The Sectors with best prospects for growth, in the opinion of CEOs, are Information Technologiesand Production, along with Business Development.42,5% 42,5% IT (42,5%) Production (42,5%) Supply chain/Logistics (12,8%) 23,4% Marketing/PR (4,3%) Finance (8,5%) 12,8% 12,8% Sales (12,8%) 8,5% 8,5% 4,3% Human Resources (8,5%) Business Development (23,4%)Advantages and obstacles for doing business in SerbiaThe majority of participants in the Survey believe that the biggest advantage of doing business inSerbia is market potential.6. In your opinion, what are the major advantages of doing business in Serbia? 56,3% Market potentials (56,3%) 20,8% Qualified staff (20,8%) 50% Professionalism in the work (4,2%) 4,2% Geographical location (50%) Developed IT infrastructure (0%) 27,1% Flexibility in working with different markets (27,1%) 10,4% Traditionally developed relationships with most developed economies (10,4%)Other comments- erbia possesses excellent resources in agriculture, energetic, minerals, recycling, which are not S being used. A number various industries could be develop based on these resources and thus show the real potential of Serbia.- earing in mind a constant departure of qualified staff, invalid value system, the state which favors B 10 tycoons and suffocates and destroys small and medium enterprises, the level of corruption plus complicated/unclear/long procedures of getting permits – Serbia has a unique geographical position, but it seems to be less and less important every day.- great potential that has not yet been used. A In Tune with the Local Connected to the World
  7. 7. 7. What do you see as the main obstacles to successful business in Serbia?On the other hand, the major obstacles for successful business in Serbia are insolvency of companies,unclear legislation and complicated administrative procedures. Lack of qualified staff (27,7%) 63,9% 63,9% 55,3% Insolvency of companies (63,9%) 46,8% Unclear legislation (63,9%) 38,3% 27,7% Complicated administrative procedures (55,3%) Shortage of good ideas (6,4%) 6,4% Social and political environment (46,8%) Poor infrastructure (38,3%)Business results in the previous yearThe majority of the participants in the Survey are mostly satisfied with the previous business year,but at the same time almost the same number believes that it could have been better. Bearing inmind what the previous year was like, there are a few of those who are satisfied, as expected.8. How satisfied are you with doing business in the past year? 12,3% 4,1% 42,8% Very satisfied (4,1%) Mainly satisfied (42,8%) It could have been better (40,8%) Not satisfied (12,3%) 40,8% www.stantonchase.com
  8. 8. 9. Which of your achievements in the past year make you most proud? CEOs are mostly proud of cost reduction, followed by employee’s retention and launching new projects. 12,3% 34,7% 10,2% Launching a new business line/project (34,7%) Cost reduction (42,9%)22,5% Retention of employees (38,8%) Keeping the existing level of salaries (22,5%) Expanding in new market/s (10,2%) Nothing in particular (12,3%) 42,9% 38,8% 10. Which situations did you personally find most unsatisfactory? The majority of the participants found giving up certain projects and the reduction of business volume personally most unsatisfactory Dismissal of employees (20,4%) 38,8% 34,7% Salary and benefit cuts (6,1%)20,4% Giving up certain projects (38,8%) 12,3% 10,2% Departure of high-quality employees (12,3%) 6,1% Reduction of business volume (34,7%) Nothing in particular (10,2%) View into the future Unfortunately, the optimism is still scarce, because most of the CEOs expect either stagnation or further deepening of the crises. It is positive that majority of the CEOs plan to increase the 6,1% volume of business in the following year and invest in employees’ development. Not many of them plan further borrowing or closing down a part of the company. 11. What do you think the following business year 34,7% Progress (6,1%) will bring us? Stagnation (59,2%) Deepening of the crisis (34,7%) 59,2% In Tune with the Local Connected to the World
  9. 9. 12. What do you plan to do in the next year? 2,1% 8,3% 10,4% 2,1% Increase the volume of business (52,1%) 6,3% 52,1% Invest in employees’ development (37,5%) Expand to new markets (35,4%) 12,5% Introduce new technologies (14,6%) Find a strategic partner (12,5%) Dismiss employees (6,3%)14,6% Reduce salaries and benefits (10,4%) Reduce the volume of business (8,3%) Borrow further (2,1%) 35,4% Close down a part of the company (2,1%) 37,5% Other comments - aintain market share, rationalize cost structure. M - ationalisation of costs, better organization of work and improvement of employees’ satisfaction. R - onsolidation of companies with introduction of new tehnologies of business monitoring. C - ringing new young potentials, mostly from internal sources, into newly formed managerial positions B and intensive work in 2012 on their inauguration in these positions. - ew strategic partner would bring a possibility of innovations of the existing products and services. N 13. What do you think is the strategy for economic development in Serbia in the next period? Investment into agriculture is the best strategy for Serbia’s development. At the second place is simplifying administrative procedures, which is understandable since the administration was seen as one of the biggest hurdles for successful business in Serbia. 59,8% 78,7% Investment in agriculture (78,7%) Investment in renewable energy sources (42,6%) Preventing the departure of qualified staff (34,1%) Investment in new technologies (31,9%) Development of infrastructure (55,3%)55,3% 42,6% Simplifying administrative procedures (59,8%) 34,1% 31,9% Other comments - . A brutal clash with the corruption at all levels, 2. The state must adapt to companies, and not vice 1 versa, because the state and the citizens live from companies - an investors’ friendly environment must be created. If the things under 1. And 2. are done, all the above mentioned issues will start getting solved naturally, by a domino effect. www.stantonchase.com
  10. 10. The perception of the supply in the labor market did not change from the last year, so that most ofthe CEOs found it was not of a higher quality compared to previous years.14. Do you think that 14,6%the supply in the labormarket was of a higherquality than theprevious years? Yes (14,6%) 25% No (60,4%) I do not know (25%) 60,4%15. Did you contact Executive Search companies concerning the selection of staff? 31,3% 68,7% Yes (31,3%) No (68,7%)16. Did you more readily accept invitations from Executive Search companies tochange your job? The number of those who more readily accepted invitations from Executive Search companiesregarding possible change of job increased. 37,8% 62,2% Yes (37,8%) No (62,2%) In Tune with the Local Connected to the World
  11. 11. About Stanton ChaseStanton Chase International is an internationally specialized Executive Search company, which by usingthe expertise of its consultants, provides its clients with the best services of finding and assessing thetop managerial staff. What makes us different is our knowledge of international, regional and localmovements on the workforce market, as well as the accessibility to candidates from all over theworld. Stanton Chase International is a company which consists of 72 offices in 46 countries aroundthe world. According to the most recent research in this industry, the company is ranked one of the top10 leading international Executive Search consulting firms in terms of size, speed of development andreputation. Among its clients the company is especially valued for its exceptional quality of business,above all for its successful work assessment in the complicated process of finding and choosing topmanagement staff.Stanton Chase Belgrade office was founded in 2002 and provides a full spectre of services in thearea of Human Resources (HR) based on the multifaceted approach to the human resource needsof our clients. Such a multifaceted approach includes not only different services, but above all ourability to adapt to the needs of the client. Our complete activity during the selection of candidates orconsulting is adapted to the specific needs of every client and is based on the type of industry that theclient belongs to as well as their characteristic needs.Today Stanton Chase Belgrade is placed amongthe leading Executive Search companies in Serbia.Our team constitutes of consultants and researchers specialized for certain branches of industry.We particularly want to emphasise that our consultants have acquired their knowledge, skillsand experience in leadership positions in the industries that they are specialized in.Our specialized fieldsWe offer industry specializations in nine dynamic fields:  Industrial  Technology (IT Telecom)  Consumer Products Services  Life Sciences Healthcare  Financial Services  Professional Services  Natural Resources Energy  Logistics Transportation  Government, Education Non ProfitUsing the latest methodology for the assessment of competences and personality profiles (on-linepsychometric testing and strategic exercises in the form of business simulations) we provide asuccessful and fast assessment of the best staff relevant for project work. Blvd. Oslobodjenja 75, 11000 Belgrade +381 11 3973676 www.stantonchase.com www.stantonchase.com
  12. 12. In Tune with the Local Connected to the World

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