The rise of the new economy after the financial meltdown of 2008 and the resulting depression has lead to some interesting shifts in the corner office.
As the economy is expected to rebound in the next couple years (no guarantee here), CEO and senior leadership turnover is predicted to rise at major companies according to a recent Businessweek article with data from Crist/Colder Associates.
“After three years of declining turnover among CEOs, churn at the top is back. As the economy improves, the rate of corner-office shakeups has picked up as more boards replace veteran CEOs with younger leaders with very different résumés. Many new CEOs have international experience and a track record in marketing or sales rather than finance or manufacturing, the specialties of CEOs two or three decades ago. They also haven’t necessarily spent their careers at one company or in a single industry.”
The Businessweek article names the following attributes as desirable characteristics boards of directors are looking for:
1) Job Hopper
2) Global Outlook
3) Outside Directorship
4) Marketing Whiz
If the modern CEO is more versed in the new methods of sales and marketing what does that mean for sales and marketing leadership and front line sales reps? It’s an interesting question to let rattle around in your brain.
To focus on sales, the new economic landscape requires sales leadership and front line sales reps that are willing and able to adapt to the new challenges we face. The rate of change is wild and my best guess is that the velocity will only increase in the years ahead. It will be an interesting and at times bumpy ride to say the least.
I’d really like to get a discussion going on this topic, focusing on the new qualities required for success in the New Sales Economy. I’ll post this question in the Linkedin forums I follow and hopefully we can get an interesting thread going. I’ll whip up a crowdsourced post with some of the interesting and provocative answers. Your thoughts are also welcome in the comments section below. Let it rip! Heck, you might even win a free prize!