Focusing on a Fuzzy Future

By Mark Dembo

Depending on which news reports you read, or which way the wind is blowing, or which side of the street you’re walking on – either the economy is recovering, or we’re in for a double-dip, triple-dip, or who knows what else.  

The reality is nobody really knows for sure, or in the words of Paul Krugman; “I guess there might be a W and it will be fuzzy…”

But one thing is for sure: corporate CEOs don’t have any better clue either!  There’s a yin and yang, to and fro, up and down dynamic happening in the corner offices throughout the world.

What really caught my eye on this was the recently released report from The Conference Board, highlighting the Top CEO Challenges for 2010, a very telling barometer of the changes occurring in the economic climate. While there is a still a high degree of uncertainty in the marketplace, we're starting to see growth-oriented priorities come back to life in the minds of CEOs.

So what made the top 10?

1. Excellence in execution
2. Consistent execution of strategy by top management
3. Sustained and steady top-line growth
4. Customer loyalty/retention
5. Speed, flexibility, adaptability to change
6. Corporate reputation for quality products/services
7. Stimulating innovation
8. Profit growth
9. Improving productivity
10. Government regulation

This is very interesting and complex list. For example, a need to focus on execution, while also being flexible and nimble seems to be at odds with each other.  

On a regional level, some key differences emerge. In Asia, for example, “Finding qualified managerial talent” ranked #7, while in the U.S., “cash management” is a key concern (#10). 

For leaders, it seems a tough part to play: a need to be able to both shift gears quickly, and to lead in a world of sometimes opposing objectives. This is indeed the new reality.

For the talent managers in the organization, you’re probably asking yourself “given the quick changing nature of the global economy right now, where should I focus my limited time and resources?

Some thoughts:

• Start by identifying and articulating the business drivers for the organization.  (Those top critical things that leaders need to do to move the organization’s strategy forward.)
• Draw a wide net at all levels in the organization to take an "audit" to understand if you have the critical skills at all levels to succeed with those business drivers.
• Prioritize the most critical talent gaps and begin to address how you’ll fill them.  

And ask yourself some tough questions – are we as an organization prepared to meet these sometimes conflicting challenges?   How do we ensure that we can have the talent we need to lead in the ever-changing tides that are likely to continue for some time to come?

Mark Dembo is a manager for Development Dimensions International (DDI).