Stanton Chase: 2016 Annual Global Industrial Survey

Companies in the industrial sector are facing the unique challenges associated with competing in an increasingly global economy, with particular emphasis being placed on the difficulties of attracting and retaining innovative, reliable, and diverse leadership.

To overcome these obstacles, organizations are focusing on strengthening their companies from the inside out, through recruiting honest, entrepreneurial leaders with visionary, strategic thinking and a proven track record of tangible results. As opposed to acquisitions or establishing new manufacturing plants, organizations are relying on their executives to grow their companies organically, investing capital in new products, new markets, and diverse talent.

885 participants completed the survey worldwide. Over half of the respondents were executive and board level, with remaining respondents being distributed amongst every major functional role. Participating firms varied in size from under $100M to exceeding $5B in annual revenues, both privately owned and publicly traded across ten diverse industrial sectors.

Growing Organically, Hiring Locally

• The primary challenges to corporate growth have remained consistent for three consecutive years, central to which is a global talent shortage. Other key impediments are global competition and government regulatory issues.
• Future growth will be fueled organically, with capital deployment focusing on acquiring, developing, and retaining talent, and reaching current and prospective customers through new products and expansion into new markets.
• In order to accomplish this, the industry must continue to improve their recruitment and retention processes as well as overcome a continual industrywide Sales and Marketing talent deficit.

There is a strong regional bias regarding growth and talent acquisition. Each region (Europe, North America, South America, Asia Pacific, the Middle East, and Africa) identifies itself as having the strongest opportunity for growth, as well as having the greatest talent shortage. Companies are increasingly hiring in-country executives based on their leadership skills, local knowledge and contacts, and their ability to work and communicate with headquarters.

To read the full report, click here.