BBJ: Stanton Chase is bringing together executive headhunters from 38 countries for its global partner meeting in Budapest. What are the key goals for this gathering, and how does Budapest as a location reflect the company’s global leadership and local expertise?
Norbert Nagy: We’ll host our 68th global partners meeting in Budapest from Oct. 2-6. The key goals are to strengthen collaboration across regions, share best practices, and strategize for the future of executive search and leadership consulting. And, as the leader of the Budapest office for over a decade, I’m personally thrilled to show off our beautiful city to my colleagues.
Kristof Reynvoet: Budapest is at the heart of Central and Eastern Europe, which is showing resilience and potential despite worldwide challenges. By bringing our international team here, we show how seriously we take this market and its growing influence on the executive talent industry. This follows our last global meeting in Sydney, Australia, and sets the stage for our next gathering in Cartagena, Colombia. We thank Norbert and the Stanton Chase Budapest team for organizing this exciting gathering, and we look forward to experiencing the city’s vibrant culture while connecting with our partners.
BBJ: Stanton Chase specializes in CEO and other C-level placements. How challenging is the market at present? Are people happy to move between roles or looking for more stability? Who holds the upper hand, the candidates or the companies?
NN: The current market for C-level placements is both dynamic and challenging. While many executives are open to new opportunities, especially those offering a chance to drive growth or transformation, others are more cautious, seeking stability amid economic uncertainty. The balance of power shifts depending on the industry and region, but overall, top candidates with a proven track record of leadership in crisis and innovation tend to hold the upper hand. However, companies with a compelling vision, clear strategy, and strong values are still highly attractive to talented leaders.
BBJ: In recent memory, we have lived through the pandemic, an energy crisis and very high inflation. Two conflicts are raging, one in our backyard, and growth is sluggish. What qualities are boardrooms looking for in their CEOs today, and how has this changed?
NN: The business world has undoubtedly been through the wringer lately, and it’s changed what companies want in their CEOs. We’re seeing high demand for CEOs who can manage crises, change strategies quickly, and make the most of technology for business transformation. There’s also been a shift from purely growth-focused leaders to those who can balance growth with resilience, sustainability, and stakeholder management. Today’s CEOs need to execute effectively in unpredictable environments.
As for the tech side of things, it’s become more important than ever for leaders to be tech-savvy. Technology is no longer just another tool in the business toolbox; it’s driving strategy and competitive advantage now.
BBJ: As AI and digital transformation reshape industries, how does Stanton Chase ensure that the leaders it places have the technological expertise and vision to drive innovation in their organizations?
KR: At Stanton Chase, we understand that AI and digital transformation are not only reshaping industries but are also critical to driving future success. To ensure the leaders we place can navigate this landscape, we focus on finding candidates who possess a mix of technical, managerial, and communication skills to lead teams, coordinate projects, and communicate with stakeholders. We thoroughly assess candidates’ experiences with digital transformation initiatives and their understanding of emerging technologies. This includes evaluating their ability to leverage data and AI to enhance decision-making and operational efficiency.
C-level executives do not always need to be technological experts, but they do need to be able to bring the right people on board, those who possess both the technological expertise and the capacity to drive collaboration. We also look for adaptability and a growth mindset in candidates, ensuring they can lead innovation.
BBJ: We often hear about the importance of increasing diversity at all levels, particularly in executive roles such as CEOs and CTOs. Is it becoming easier to find top-quality candidates who don’t fit the traditional leadership profile? And who is driving the push for more diverse leaders: companies, headhunters, or societal expectations?
KR: The diversity landscape in executive leadership is changing, that much is certain, but it’s a gradual process. In the past year, 24% of the executives Stanton Chase placed are women. Our diversity recruitment strategy focuses on tackling unconscious biases to attract and retain top-qualified candidates. We passionately champion the cause of diverse boards and openly endorse the goal of ensuring a minimum of 30% female representation on all boards. We are dedicated to helping our clients achieve this milestone, too. But we’re not there yet. Some industries still have a limited pipeline for diverse candidates, and unconscious biases can still sway hiring decisions.
The push for more diverse leadership is driven by a combination of all three: companies aiming for innovation, headhunters seeking competitive candidates, and societal pressures advocating for inclusivity.
BBJ: While your partners are in Budapest primarily for work, what specific cultural and business opportunities do you anticipate the capital will provide beyond the workshops and meetings?
NN: Budapest will offer cultural and business opportunities that enrich our experience, from networking events in historic venues to team-building activities. The city’s rich heritage will not only enhance our stay but also foster stronger connections among our partners.
Stanton Chase is a top-ranked global retained executive search and leadership consulting firm. From humble beginnings in 1990, Stanton Chase has grown to more than 70 offices in 45 countries. Its team of more than 350 specialized consultants works tirelessly to provide exceptional service to their clients.
This article was first published in the Budapest Business Journal print issue of October 4, 2024.
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