A tremendous amount of research has been collected about Physician Burnout some well documented, others anecdotal. Researchers have been studying the condition since the 1970’s but little has been done to address the issue and it is becoming increasingly wide spread: more than one-half of US physicians experience substantial symptoms of burnout during their careers.
I wanted to share the link below of the NYSE closing bell ceremony I participated in on January 17, 2018 with the CEO, senior executives and Board of Directors for Provident Bank acknowledging the 15th anniversary of Provident Bank’s listing on the exchange. I enjoy serving on the board of this 179 year old financial services institution which was recently recognized as one of Forbes‘ Best Banks in America and named Money’s Best Bank in NJ.
The Forbes list of “Best Recruiting Firms of 2017” is out and Battalia Winston is, once again, prominently featured. So what sets these firms apart and what makes them worthy of this recognition?
All of the recruiting firms named share certain qualities and attributes that make them best in class. Check out their websites and you will find that all claim to have a history of understanding the changing needs and opportunities of their clients and all believe that they best recognize the challenges not only of the client but of the current market. Each firm presents its history of sourcing the “right” candidates to lead a client successfully into the future. All describe themselves as “distinctive” or “differentiated” or best understanding “the science of executive recruiting”. All of this must be true or why would they be selected by an organization as distinguished as Forbes?
Larger firms get on this type of list because of volume and market coverage. Smaller, more boutique firms, make the “Best Recruiting Firms” list because of the mutual loyalty shared between the clients and the firm.
So what makes Battalia Winston stand out in the industry and in this crowd?
- Over 50 years of experience working with clients in multiple sectors, many of which are not the focus of larger firms, including non-profit and family businesses.
- A tenured team of Partners who directly manage their searches and personally screen every candidate presented to their client.
- Due to the care with which clients are selected, “off limits” issues are kept to a minimum.
- Use of a Consensus-Based Search process that eliminates potential roadblocks to the search effort, establishes clear expectations for all parties along with agreed-upon timelines and assures a smooth transition.
These elements have contributed to our longevity and success. Notably, 85% of our searches are either a repeat client or one referred by a past or present client. This is a result of developing deep partnerships and long-lasting relationships.
Succession planning has always been an important discussion topic for every thoughtful or “planful” retail company. However, with the paradigm shift taking place in the industry, the importance of the process and of making it more than talk has become critical for several reasons. Not only is the current generation of retail leadership retiring in large numbers, the likelihood is that this attrition will continue well into the next two decades. Tie this basic reality to a noticeable lack of prepared talent to fill these critical vacancies, and the current retail business readjustment will continue on its own path with few to influence where that path leads. With the decline in executive training and professional development programs, as well as the changes in leadership profiles (from merchandising to marketing, from marketing to digital), the industry is sure to face continued drift and dislocation.
Once executive leadership in a company understands that a deliberate succession plan is a necessary part of the total strategic planning process, they will next face a process that’s much different from the succession planning processes to date. So what’s so different now?
Bruce Walton, Boston Partner and Co-Head of the Family Business Practice, has contributed two short articles to the FFI Practitioner.
The first article, published 4/19, deals with the issue of “Fit, ” addressing the concepts of core family values, alignment and stewardship as well as clarifying issues of whether or not a candidate actually has demonstrated the key competencies necessary to do the job successfully. Read the full article
The second article, published 6/7, deals with Long Term Incentive Programs (LTIPs), addressing issues of best practices for structuring LTIPs, the value of working with compensation consultants and ensuring that payouts are made only when new enterprise value is created. Read the full article