CEE Poised to Emerge as Rich Source of Executive Talent, According to New Korn/Ferry Study
LOS ANGELES, May 5, 2009 – For many years, Western Europe and North America have been the training ground for a vast majority of the world’s business leaders. However, with the rapid growth of economies in Central and Eastern Europe (CEE), new leaders are increasingly emerging from this region, according to a new study published by The Korn/Ferry Institute. Korn/Ferry International (NYSE:KFY) is a premier global provider of talent management solutions.
Entitled Emerging Markets, Emerging Leaders: A Talent and Leadership Study of Central and Eastern Europe, the study is based on a survey conducted by Korn/Ferry of executives from 15 different CEE countries. It examines such issues as the labor market, globalization and regional competition, talent management and leadership in CEE.
Key findings include: -There is widespread agreement that the CEE region is short of qualified people at all levels of management. -Current leaders need to pay more attention to managing talent within their organizations, and they need to develop their own model for achieving that. -Respondents emphasized that it was important for CEE business leaders to have a global – not just Western – perspective.
“The sourcing of world-class executive talent represents an unparalleled and perhaps underappreciated investment opportunity for organizations wishing to do business in CEE,” said Alice Punch, office managing director for Korn/Ferry in the Czech Republic and one of the study co-authors. “More and more exceptional leaders are emerging in CEE, but due to the fast-paced and changing market, it is often difficult for organizations to identify the top talent.”
About the Study Emerging Markets, Emerging Leaders: A Talent and Leadership Study of Central and Eastern Europe is based on a survey that was conducted both online and in person by Korn/Ferry in October and November 2008. Of the 734 respondents, more than half were based in Poland and a quarter in the Czech and Slovak Republics. In all, 15 CEE countries were represented. Almost half of the respondents were non-executive board members or senior executives – CEOs, general managers, or country/division managers.
About The Korn/Ferry Institute The Korn/Ferry Institute was founded to serve as a premier global voice on a range of talent management and leadership issues. The Institute commissions, originates and publishes groundbreaking research utilizing Korn/Ferry’s unparalleled expertise in executive recruitment and talent development combined with its preeminent behavioral research library. The Institute is dedicated to improving the state of global human capital for businesses of all sizes around the world. For more information on the Institute, visit www.kornferryinstitute.com.
About Korn/Ferry International Korn/Ferry International, with more than 90 offices in 40 countries, is a premier global provider of talent management solutions. Based in Los Angeles, the firm delivers an array of solutions that help clients to attract, develop, retain and sustain their talent. For more information on the Korn/Ferry International family of companies, visit www.kornferry.com.
