Is Cultivating Talent the Key to Middle East Business Success?
Mokshita P.
10x Industry

Is Cultivating Talent the Key to Middle East Business Success?

The survey reveals heightened worries among Middle East CEOs and board members regarding leadership succession, talent development, and organisational preparedness amidst regional uncertainties.

So, there's this survey by Heidrick & Struggles that came out, focusing on CEOs and board members in the Middle East. It shows that these leaders are really concerned about getting the right people into leadership positions and keeping them there. They're also worried about what happens when leaders leave or need to be replaced.

Now, the Middle East economy is expected to grow, which is good news, but there are still a lot of uncertainties due to things like conflicts and trade disruptions. Middle East leaders are feeling these uncertainties pretty strongly, just like their counterparts around the world.

But where they really stand out is in their concerns about leadership. More of them are worried about finding, developing, and keeping good leaders, and about what happens when leaders change, compared to leaders globally. Even though they're worried about these things, not many of them feel confident that their organisations can handle them well.

Richard Guest, from Heidrick & Struggles, points out that in this complex environment, Middle East companies need to focus on not just finding leaders, but also grooming talent from within. He says it's up to boards to make sure organisations are building the right skills and preparing leaders for the future.

And Markus Wiesner, also from Heidrick & Struggles, adds that having a strong culture is key to keeping good leaders and attracting new ones. He emphasises the importance of having a clear plan for developing talent and making sure it's a continuous process, not just something you think about when someone leaves or isn't performing well.

In a nutshell, Middle East leaders are facing unique challenges when it comes to leadership, and they need to be proactive in addressing them to navigate the fast-changing landscape of the region.