Why More CEOs Should Be Hired from Within

HBR IdeaCast

Harvard Business Review

Leadership, Entrepreneurship, Communication, Marketing, Business, Business/management, Management, Business/marketing, Business/entrepreneurship, Innovation, Hbr, Strategy, Economics, Finance, Teams, Harvard

4.4 • 1.9K Ratings

🗓️ 28 November 2017

⏱️ 19 minutes

🔗️ Recording | iTunes | RSS

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Summary

Claudio Fernández-Aráoz, a senior adviser at the global executive search firm Egon Zehnder, makes the case for finding a company’s next CEO inside the firm. But to find the best contenders, organizations have to learn what to look for, how to find it, and how to nurture it. Fernández-Aráoz is the co-author of the new HBR article “Turning Potential into Success: The Missing Link in Leadership Development.”

Transcript

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0:00.0	If you work with early career professionals, my colleagues at
0:03.8	HPR have a great new podcast for you. It's called New Here. Think of it like the
0:08.4	Young Professional's Guide to Building a Meaningful Career on your own terms.
0:11.9	Share New Here with the Young Professionals in your life. a meaningful career on your own terms.
0:12.8	Share new here with the young professionals in your life.
0:15.9	Listen for free wherever you got your podcasts.
0:18.6	Just search new here. Welcome to the HBR Idea Cast from Harvard Business Review.
0:32.8	I'm Sarah Green Carmichael.
0:34.9	A few years ago, Microsoft's board was looking for a new CEO
0:38.7	to replace Steve Balmer.
0:40.5	At one point, they were considering Alan Mulally, then the CEO of Ford.
0:44.8	He was 68 and coming from the auto industry very different background.
0:49.9	That's what Claudio Fernandez aroused was thinking.
0:52.1	Doesn't Microsoft with hundreds of thousands of people working for them, have one internal
0:57.5	can it doesn't make much sense.
0:59.5	It didn't make much sense to Fernandez-Arouse who has three decades of experience with
1:04.2	executive searches. That's because he had seen how large companies usually have
1:08.9	many more internal candidates than they realize. Unfortunately, those firms just haven't been
1:14.1	preparing their high potential employees to be competent CEOs. And when
1:18.3	Fernandez-Orau says competent, he's talking about seven core competencies.
1:23.0	He says new research shows that hiring managers can spot that talent years
1:27.6	before there's an empty chair in the C-suite.
	...

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