Heidrick & Struggles: Four Considerations When Hiring Leaders
While the technologies behind blockchain and cryptocurrencies have been in development for more than a decade, they are only now seeing mainstream institutional adoption. MassMutual’s $100 million investment in Bitcoin in late 2020 was a watershed moment that triggered the interest of other institutional investors. Another sign of this growing adoption is that 18 central banks around the world are developing their own cryptocurrencies to maintain control over their foreign exchange policies.
However, institutions seeking to hire executives with the right expertise in digital assets will find it challenging. That’s not only because the talent pool is relatively small and increasingly sought after, but also because the best experts will need to be convinced to shift to a significantly different organizational culture. Heidrick & Struggles explain four key considerations that can help traditional financial institutions find the right digital asset executives.
- Seek out true believers
- Be prepared to make tradeoffs between domain expertise and institutional knowledge
- Address cultural discrepancies head-on
- Be transparent about compensation