Spencer Stuart: The Benefits of Talent from Outside of your Sector

An article by Spencer Stuart revealed that some pharmaceutical and medical companies in Central and Eastern Europe (CEE) are opening their doors to talent from outside their industry. With industries facing strict regulatory structures, it can be challenging to persuade businesses that there are advantages to considering an executive who has not been immersed in the industry. However, the companies that bring talented leaders from outside their own sector will benefit from fresh leadership insights, critical thinking, innovative practices, and heightened commercial acumen. Industry in the CEE territories is highly regulated, and changes drastically, capitalizing long-term on sensible strategy of new leadership potential depends on the development of well-managed talent.

Spencer Stuart finds that bringing on talent one or two levels below CEO will allow them to accelerate their internal knowledge and specific relationship networks. Their onboarding experience will be critical: a company should be prepared to devote six to 10 months to the process, rather than the usual matter of weeks. In return, these executives will bring different professional experiences that help them to identify innovative strategies.

The full article is published on Spencer Stuart’s website. Read the full article.