‘Outside’ Is Becoming ‘Inside’ As More Companies Recruit Executives From Outside Their Industries
Thursday; September 7, 2006
RADNOR, Pa., September 7, 2006 – “Outside” is becoming the new “inside” as companies are more often recruiting managers and executives from outside their industries, according to Salveson Stetson Group, a full-service retained executive search firm.
“Hospitals, health systems, pharmaceutical companies, manufacturers, banks, and non-profit agencies are among employers more often hiring managers and executives from outside their industries for a variety of reasons,” said Sally Stetson, co-founder and principal with the 10-year-old executive search firm. “This is a big change from employers’ previous preference for progressive management experience within their industries.”
Among the industries more often recruiting from the outside, where they are looking for talent, and the reasons for this, are:
- Hospitals and Healthcare Systems. “They are recruiting finance executives, in particular, from other industries as a result of tighter government regulations, increasing financial demands, and the need to manage investment portfolios, think strategically, and adopt fresh approaches to chronic problems,” said John Salveson, co-founder and principal with Salveson Stetson Group.
- Pharmaceutical Companies. “Typically, pharmaceutical companies have focused solely on recruiting managers and executives from their competitors. However, many of the larger companies have started to concentrate on candidates from consumer products and retail companies such as PepsiCo, Frito-Lay, and The Limited. Executives from these types of companies are perceived as being more progressive, and more accustomed to working in a fast-paced environment,” said Stetson.
- Manufacturers. “The more progressive industrial manufacturers are also looking for talent with consumer products experience because these types of executives are accustomed to operating in leaner organizations, which are better able to respond quickly to changing business needs,” said Stetson.
- Banks. “More banks are hiring managers and executives with retail experience as they change their cultures to become more customer-oriented,” said Salveson.
- Non-Profit Agencies. “Non-profits have become more open to looking for candidates who have for-profit business experience. This supports their desire to operate more efficiently and effectively. Many non-profits also are seeking managers and executives close to retirement age who want a change in their careers and are interested in meaningful work," said Stetson.
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About Salveson Stetson Group
Salveson Stetson Group (www.ssgsearch.com) is a full-service retained executive search firm founded in 1996. Specializing in $150,000+ salaried positions, Salveson Stetson Group places executives at organizations ranging from Fortune 500 companies to non-profit entities. The company is based in suburban Philadelphia.
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