Stanton Chase Finland

CEO Census 2012

General overview

Stanton Chase International is one of the

world‘s leading executive search companies

with over 70 offices and more than 350

specialised consultants around the world.

In order to examine and analyse the top

level recruitment markets Stanton Chase

has completed surveys of C-level executives

in several countries around the globe,

Austria, Czech Republic, United Arab

Emirates to name a few, and now the same

was conducted in Finland too. Stanton

Chase carries out these C-level executive

surveys in order to examine the general

economic trends and the executive job

market

The survey was sent to over 700 executives

and responses were received from over 100

C-level executives. The survey consisted of

27 questions in four different categories;

general economic prospects, executive job

market and placement, company strategy

and general information of respondents. The

participants in the survey come from wide

range of industries; professional services,

industry, consumer goods, life sciences,

technology, public sector and financial

services. Majority of the respondents were in

the age group 40-55 and have been in a

management position for over 10 years.

Key results

The three most important findings of the

survey are:

1. Cautious optimism: Finland’s top

executives signalled good expectations

for the next 12 months. Large majority

have somewhat optimistic or optimistic

view on Finland’s economic prospects,

and two thirds expect it to be

sustainable. Hence the atmosphere

affecting investment and recruitment

decisions is cautiously optimistic.

2. High level of willingness to move

jobs: Over 80 per cent of respondents

are open to suggestions or actively

seeking new employment opportunities.

This is a significantly large number, and

the major reason in changing jobs for

C-level executives is dissatisfaction

with management. This result is in line

with other CEO surveys conducted by

Stanton Chase in other countries.

3. Unwillingness to relocate

internationally: Despite a globalizing

world, increasingly global markets and

international growth opportunities,

majority of respondents do not value

international relocation as major factor

when considering change in

employment. This is in line with findings

of Executive Search Consultants on the

field; top executives are often married

to highly educated spouses with

children – finding equal opportunities

for families when relocating

internationally is challenging.

Veryoptimistic

Optimistic

Somewhatoptimistic

Notoptimistic

0,0% 20,0% 40,0% 60,0%

1. How optimistic are you for the economic and business growth of Finland in the next 12 months?

67 %

33 %

2. Do you trust the economic recovery to be lasting?

Yes No

Majority of the respondents are

optimistic regarding Finland’s

economic prospects, but the

general view is cautious; there are

a lot of potential risks available.

Two thirds of C-level executives

believe the economic recovery will

be lasting. Hence the general

atmosphere is cautious sustainable

growth, not strong growth.

0% 20% 40% 60%

Veryoptimistic

Optimistic

Somewhatoptimistic

Not optimistic

3. How optimistic are you of your company's prospects in the next 12 months?

Consumer Products

Technology

Industrial

Financial Services

Life Sciences

Public Sector

Professional Services

0 % 20 % 40 % 60 % 80 % 100 %

4. Which market sectors do you think will offer career opportunities for top executives in Finland?

None Few Many Most

0% 10% 20% 30% 40% 50%

Consumer Products

Technology

Industrial

Financial Services

Life Sciences

Public Sector

Professional Services

5. Which market sectors do you expect to grow most during next year?

Virtually all executives are optimistic

of their own company’s prospects in

the near future. This is a positive sign

regarding for example recruitment

and investment decisions in the near

future.

In the near future technology,

professional services and life

sciences (including

healthcare) will provide most

opportunities for top

executives.

This is similar to previous answer,

technology and life sciences

(including healthcare) will display

the best growth rates next year.

18 %

23 %

19 %

10 %

6 % 5 %

19 %

6. Which market sector are you working in?

Consumer Products Technology Industrial

Financial Services Life Sciences Public Sector

Professional Services

General Management

HR

Sales

Marketing

Supply Chain

Production

Finance

IT

Other

0% 10% 20% 30% 40% 50% 60%

7. In which of the following functions do you believe there is shortage of skills?

0% 10% 20% 30% 40% 50% 60%

Sustaining / Increasing cash flow

Attracting talent

Business restructuring

Cost reduction

Employee retention

Employee dismissal

8. In your opinion what is the most important action in your company next year?

The spread of respondents covers all

industries rather well, majority working

technology and almost similar portions

in industrial, consumer products and

professional services.

Sales, general management and

IT skills are the most sought after

in executives’ labour market.

Increasing or sustaining

cash flow is the most

important action for

companies next year. Some

restructurings will also be

made.

0 % 20 % 40 % 60 % 80 % 100 %

Productivity management

Creativity management

Change management

Multicultural experience

Flexibility

Strong values

Mobility

9. What do you think organizations seek from their CEOs in order to stay competitive in the local & regional markets?

Indifferent Not Important Somewhat Important Very Important

0%

10%

20%

30%

40%

50%

60%

Better Worse Same

10. Compared to last year, would you describe the atmosphere in your company to be

0% 10% 20% 30% 40% 50% 60%

Very optimistic

Optimistic

Somewhat optimistic

Not opistimistic

Other

11. Please describe the current atmosphere in your company

Change management

experiences is the most

valued skill for CEO’s,

followed by flexibility and

creativity management.

Most companies report better

atmosphere in their companies

this year compared to last.

Majority of the companies have

optimistic or somewhat optimistic

atmosphere in their company

currently.

0%

10%

20%

30%

40%

50%

60%

Very content Content Discontent

12. Compared to last year, how content are you with your current job situation?

I'm usually searching new opportunities

I am open to suggestions

Not interested for the next 2 - 3 years

Interested in the longer term

Not interested at all

8,4%

72,9%

11,2%

5,6%

1,9%

13. How interested are you in new career opportunities?

Majority of the respondents are

content or very content with

their job situation at the

moment.

Despite the executives being

content with their job

opportunities, over 80% of them

are willing to leave their

companies in the near future.

This is one of the most significant

results of the survey.

0 % 10 % 20 % 30 % 40 % 50 % 60 % 70 % 80 % 90 % 100 %

Advancement opportunities

Challenge/ personal growth

Compensation & benefits package

Stress level

Job security

Level of managerial responsibility

Match with the boss

Fit with culture

Work-life balance

Level of autonomy/ independence

14. How important are the following factors in your job satisfaction?

Not Important Somewhat Important Very Important

0 % 10 % 20 % 30 % 40 % 50 % 60 % 70 % 80 % 90 %100 %

Lack of training & development

Lack of career opportunities

Dissatisfaction with management

Difficulty with shareholder cooperation

Inadequate salary & benefits

Poor financial performance of the company

Lack of work-life balance

Re-organization within the company

Responsibility without authority

Starting own company

15. What factors would lead you to consider changing employment?

Not important at all Not very important Neutral Important Very important

The most important factor in job satisfaction is challenge and personal growth, but also

autonomy, level of responsibility and match with management are very important factors in

executives’ job satisfaction.

Dissatisfaction with management is the biggest reason for executives to change or consider

changing employment, but salary level and lack of authority also affect this decision. This is

significant, when compared with willingness to change jobs; it seems majority of executives are

considering employment change due to bad management.

0 % 10 % 20 % 30 % 40 % 50 % 60 % 70 % 80 % 90 % 100 %

Increased compensation & benefits

Increased responsibility

Increased authority

International relocation

More entrepreneurial role

Increase industry experience

Increase functional experience

Change to a completely new career

16. Which would be the important factors for your to join a new employer?

Not important at all Not very important Neutral Important Very important

0% 10% 20% 30% 40% 50% 60% 70% 80% 90%

Networking

Executive Search Consultants

Recruiting agencies

Recruitment advertisements

Internet job boards

17. Which resources / strategies would you use to explore a change in your career?

Most important factors affecting employment change are increased responsibility and

compensation. The surprising result is that executives no longer are willing to relocate

internationally; though this seems to have been a trend in Finnish market recently.

Netoworking and Executive Search Consultants are the most important channels for career

change for top executives.

0% 10% 20% 30% 40% 50% 60%

Gain international experience

Develop technical and personal skills

Expand network

Develop a self-marketing plan

Other

18. What do you consider you need to develop in order to achieve your career goals?

0%

10%

20%

30%

40%

50%

60%

70%

0 - 2 years 2 -5 years 5 -10 years 10 or moreyears

19. How long have you been in a management position?

Expanding network is considered the most important area of development

for career goals. International experience is clearly not a top priority.

Majority of the respondents have

been in management position over

10 years, which merely confirms the

level of executives in the survey.

0%

5%

10%

15%

20%

25%

30%

35%

40%

0 - 2 years 2 - 5 years 5 - 10 years 10 - years

20. How many years have you been in your current position?

0%5%

10%

15%20%25%30%35%

40%45%50%

0 - 2 years 2 - 5 years 5 - 10 years 10 or moreyears

21. How long do you expect to stay in your current position?

Most respondents have been

in their position 2-5 years or

less than that. It seems that

an ”ideal” time for one

managerial position is

around 5 years.

Most executives expect to leave

their current position within 5 years.

0%

5%

10%

15%

20%

25%

30%

30 - 35years

35 - 40years

40 - 45years

45 - 50years

50 - 55years

55 -above

22. How old are you?

0%

20%

40%

60%

80%

100%

Male Female

23. Gender

Yes

No

0% 20% 40% 60% 80%

24. Have you changed the industry you work in during your career?

Currently majority of C-level

executives are in the range of

40-55 years, peaking at 40-45.

The respondents were almost entirely men,

however this also indicates similar results to

recent studies in Finland according to which

3% of operative business unit management

is held by women.

In executive job market industry

change is possible and prevalent;

majority of respondents have

changed the industry they work in

during their career.

0%

10%

20%

30%

40%

50%

60%

Yes No

25. Have you contacted Executive Search Companies concerning the selection of your management team?

44%

46%

48%

50%

52%

54%

Yes No

26. Have you contacted Executive Search Companies regarding your career opportunities?

0%

10%

20%

30%

40%

50%

60%

70%

80%

Yes No

27. In your opinion, is your company offering competitive conditions to attract and retain executive talent?

A slight majority of respondents

have contacted Executive

Search Companies for their

management team selection.

Also a slight majority has contacted

Executive Search Companies for

their own career opportunities.

Most respondents believe their

companies provide competitive

conditions which attract

executive talent.

Established in 1990, Stanton Chase

International is one of the world’s leading

global executive search companies with

more than 70 offices in 42 countries.

Stanton Chase International has a strong

presence in the Finnish market, where it is

one of the top five companies in its field.

Stanton Chase Helsinki has also a strong

expertise with companies operating in

Russia, especially Moscow which hosts

Stanton Chase partner office and also St.

Petersburg, which presents large potential

for both Finnish and international companies

due to large population and increasing

demand for talent.

All company partners have their own

Practice Group expertise and extensive

local and multinational experience and

references. They serve international clients

as well as strong local and national players.

Partners:

Asser Lindholm

Mikael Stelander

Kalle Soikkanen

Arto Sormunen

Researchers / Analysts:

Susanna Kilpinen

Essi Hallvar

Ville Kämppi

Services provided by Stanton Chase:

Executive Search

Board Services

Management Audits

International Practice Groups:

Consumer Products and Services

Financial Services

Life Sciences and Healthcare

Logistics and Transportation

Industrial

Professional Services

Technology

Contact Details:

Stanton Chase International Oy

Keilaranta 19

02150 Espoo

+358 9 8874 060

helsinki@stantonchase.com

www.stantonchase.com

www.stantonchase.fi