The Fight for the Right Executives
06-April-2009 - "It should be a buyer’s market for talent. So why do some industries still have a fight on their hands?"
Smart businesses go courting during downturns, enticing a caliber of talent they wouldn’t ordinarily be able to woo. But many companies in technical industries are having a hard time filling key roles, global recession notwithstanding.
The booming sulphur industry is a case in point. At present, the global annual output of sulfur is about 40 million tons and it is expected to reach 55 million tons in 2011. Yet, attracting operations managers, general managers and sales executives to this global industry proved challenging as top engineering, mathematics and physics graduates flocked to lucrative careers with investment banks and hedge funds. Regardless of whether this may change in the wake of the worldwide financial crisis, Greg Duerksen, president of the global executive recruiting firm Kincannon & Reed, said companies in sulphur and allied industries such as other fertilizers and commodity chemicals must prepare to compete more forcefully for the talent they need to sustain and extend industry growth.
“Operations management roles have clearly been the most difficult to fill, and engineering, general management and sulphur sales roles have also been challenging,” Duerksen said, citing a recent Kincannon & Reed survey of sulphur executives. Duerksen detailed the survey results in a presentation to the Sulphur World Symposium in Madrid, Spain.
In it Duerksen describes the causes driving the shortage of qualified and experienced talent, including:
- Cutbacks in bench positions, international assignments and other developmental offering
- Relocation reluctance on the part of executives, particularly those with children in high school
- Demographic factors, especially expected retirement rates among aging world workforces
- A mismatch between what schools produce and what companies need.
“Companies in sulphur and related industries are going to need comprehensive strategies for finding and keeping executives with the right skills,” Duerksen said. “The war for talent is winnable, but it will take smart, competitive and innovative compensation plans, retention tactics, talent development, and relentless recruiting.”
Kincannon & Reed (www.krsearch.com) is the only retained executive search firm focused exclusively on the food, agribusiness, and life sciences sectors. Founded in 1981, the company serves clients throughout the world from its offices in the Americas, Europe, and Asia / Pacific.
Media note:To request a copy of the complete presentation “The War for Talent”, or to arrange an interview with Greg Duerksen of Kincannon & Reed, call Carly Magill at 651-271-6866 or e-mail carly_magill@groupleaf.com.
News & Resources
"You consistently challenge us and broaden our thinking and horizons. You are able to show that sometimes what we think we want is very different than what we need."
- Human resources director for a major crop input company
"We ended up with the ideal candidate combination, and one we would not have envisioned ourselves. Your firm's knowledge of the sector was invaluable as it led to opportunities beyond the search."
- Managing director of a private equity firm
"In addition to finding us great candidates, you worked adeptly and sensitively with all our internal stakeholders. Widespread ownership in the selection process will help our team extend to new hires the support they need for success."
- CEO, privately owned artisan bread company
"We have worked with all the big global firms, and Kincannon & Reed has been easily the most thorough and professional."
- Head of human resources of large multinational company
"We appreciate that you are always reachable and that you never give up even when we all know the search is extremely difficult."
- Chairman of major distribution company
"Thank you for your excellent assistance in this process. The tight search timeline was respected and I believe that the candidate will bring much value to our company."
- CEO for crop input company
"When this search started you indicated one of your goals was to provide a slate that would be so good that we would have difficulty choosing just one candidate. You far exceeded that goal."
- Business unit president for global animal health company
"One of our Senior VPs commented early on that hiring a retained firm was not our best investment of time and money. On our last conference call, however, he indicated he's become a true believer in Kincannon & Reed, and wanted to go on the record as retracting his earlier comment."
- VP of HR for multi-billion dollar, family-owned grain company
"Kincannon & Reed is universally respected and relied upon for quality partnership and mentoring when it comes to senior-level executive searches."
- Former CEO of major agribusiness organization
"Kincannon & Reed has good instincts for people and works hard to know the organization they're serving. "They do a magnificent job matching qualified candidates to the organization."
- Director of Biotech Business Development, multinational agricultural biotechnology organization
"Even when we're not using them, the Kincannon & Reed team keeps in touch because they seem genuinely interested in what we're doing. So when people ask me who we should turn to, I invariably point them to Kincannon & Reed."
- CEO of animal genetics and technology firm