SINGAPORE, Dec 8, 2008 -- In an uncertain business environment, there is an urgent need for Asia Pacific CEOs to become more proactive and open to engaging their staff in order to develop the next generation of leaders, according to a recent report released by Korn/Ferry International (NYSE:KFY), a premier global provider of talent management solutions.

Korn/Ferry, in co-operation with the Economist Intelligence Unit, polled over 50 Asia Pacific CEOs on their evolving priorities against a rapidly changing business climate.

According to Charles Tseng, President, Asia Pacific for Korn/Ferry, “The most effective Asia Pacific CEOs have a clear, strategic view of their current and future talent needs – up to at least two to five years out. But now more than ever, Asian leaders need to take a more participative approach to talent management and developing the next generation of leaders in the region.”

This continued emphasis on people as much as profits is a direct result of the acute shortage of specialist skills in the region, also cited as the greatest challenge facing CEOs here in the next three years. Not surprisingly, staff management and development was ranked by CEOs as more time consuming than engaging with customers and suppliers or strategic planning.

Respondents also listed 'strong people development skills’ as the key competency that will become more important for the Asia CEO in the next three years. Strong people development skills was seen as being as important as ‘strong strategic thinking,’ and more important than ‘being able to work across cultures’ or ‘drive change.’

Mr. Tseng sees this as a fundamental shift for Asia. “In the past, being a ‘people person’ in Asia was primarily seen in terms of an executive’s ability to establish high level guanxi with influencers in China, or to demonstrate appreciation for the loyalty of long-time employees in Japan. Today’s CEO needs to develop personal relationships with their staff at all levels to promote stability and loyalty, a far stronger retention device than money.”

Asia Pacific CEOs will also need to become much more involved in identifying and engaging high-potential employees, tailoring development programs and spending ‘one-on-one time’ with them to build their leadership bench, a radical approach that may take some getting used to for typically ‘hierarchical’ leaders in the region. “As Asia becomes a more formidable player in the global arena, the time is now for a new style of leadership that will truly make the region the heart of international commerce,” Mr. Tseng added.

Among the survey’s other findings:

- A greater percentage (29%) of Asia Pacific CEOs now report directly to the Board compared to three years ago (21%).

- Respondents spent 58% of their career in Asia, followed by 18% in Europe, 11% in North America and 7% in Australia and New Zealand.

- 64% of survey respondents have worked in at least two countries during their career with almost 30% working in up to eight countries.

- Managing a P&L was seen as the most important experience essential to prepare an Asian CEO for the role followed by creating human capital strategies, running a country operation, managing a crisis project, managing a global team and turning around a struggling part of the business.

- Signaling Asia’s significance, respondents companies were equally headquartered globally in Asia as they were in North America (36% respectively), with 26% headquartered in Europe and 2% in the Middle East and Africa. 

- 62% of CEOs rely on executive coaching to improve their ability to effectively engage their staff.

- The top three strategies used to develop future leaders include identifying high-potential employees and tailoring fast-track development programs, bringing global high performers to Asia and sending Asian high-potentials on overseas assignments.

About Korn/Ferry International Asia Pacific
Korn/Ferry International, with more than 90 offices in 39 countries, is a premier global provider of talent management solutions. Korn/Ferry was the first major U.S. executive search firm to operate in Asia Pacific when it opened its doors in Tokyo in 1973. Today it has 18 offices in key business centers throughout the region, including: Auckland, Bangalore, Bangkok, Beijing, Brisbane, Guangzhou, Hong Kong, Jakarta, Kuala Lumpur, Melbourne, Mumbai, New Delhi, Seoul, Shanghai, Singapore, Sydney, Tokyo and Wellington.

Based in Los Angeles, the Firm delivers an array of solutions that help clients to identify, deploy, develop, retain and reward their talent. For more information on the Korn/Ferry International family of companies, visit www.kornferryasia.com.
                                                                                                   
                                                                                  ###