LOS ANGELES AND SAO PAULO, January 12, 2010 – Latin American CEOs consider the number one priority for the next three years to be developing people and managing talent, according to a new study published by The Korn/Ferry Institute entitled CEO Vision Revisited – Leaders for Today and for the Future.

As the world begins to emerge from the deep recession, Korn/Ferry, in partnership with INSEAD, The Business School for the World, sought to learn how Latin America’s top chief executives are changing their priorities in response and to compare against some of the findings that were revealed in the first CEO Vision leadership study in 2003. In-person interviews were conducted with 365 business leaders in eight different countries across the region.

The findings represent a significant change from the 2003 study. At that time, leaders were much more focused on improving processes and productivity. In contrast, today’s CEOs have begun to invest heavily in human capital in order to achieve better results and respond to pressures and new requirements. In particular, they want to improve their succession planning.

Highlights of the study include:
- Only a quarter of the executives surveyed think that their leadership team is well prepared for the most crucial challenges to come out of the recession.
- The percentage of leaders whose professional dream is to remain in the same business has fallen sharply since the previous study. 
- One-third of CEOs say that their HR team is not a strategic partner in the business, a fact that they believe will hinder their firm’s ability to achieve its business priorities over the next three years.
- Executives in Latin America do not think that their local economy will excessively constrain future growth.

“Investing in the development of skills is considered a critical challenge for companies,” said Sérgio F. Averbach, regional president of Korn/Ferry, South America. “The data presented predicts an important change in this scenario. Previously, companies were concerned with seeking out qualified professionals in the market; however, the attention is now directed at detecting uncommon talents and developing persons – in the team itself.”

Methodology
Korn/Ferry developed the CEO Vision Revisited 2009 study questions and format in partnership with INSEAD and with Markwald, LaMadrid & Asociados, which validated the methodology. Korn/Ferry conducted and analyzed all 365 executive interviews, and Markwald, LaMadrid & Asociados processed the data.

The study is available to download from The Korn/Ferry Institute site at:
http://www.kornferryinstitute.com/about_us/thought_leadership_library/publication/1665/CEO_Vision_Revisted

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.

About Korn/Ferry International
Korn/Ferry International, with a presence throughout the Americas, Asia Pacific, Europe, the Middle East and Africa, is a premier global provider of talent management solutions celebrating 40 years in business. Based in Los Angeles, the firm delivers an array of solutions that help clients to attract, develop, retain and sustain their talent. Visit www.kornferry.com for more information on the Korn/Ferry International family of companies, and www.kornferryinstitute.com for thought leadership, intellectual property and research.

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