The world’s population is aging, and quickly. The oldest Baby Boomers have already crossed into their 60s, with millions more to follow. The U.S. Census Bureau puts the number of Boomers currently between 44 and 62 at more than 78 million, with close to 8,000 people turning 60 every day. The demographic trend in America signals an oncoming void in executive leadership that will be one of the greatest human resource challenges of the next decades.
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The key to establishing a good fit between a new executive and employer is validated executive assessment. Too often, companies hire for technical expertise and fire for behavioral issues. To ensure long-term retention and a more productive working environment, executive assessment should include an evaluation of behavioral and personality issues, and a look at how the candidate’s working style fits within a company’s unique culture.
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In our unpredictable U.S. economy, executive compensation has become a hot-button issue. Shareholders want compensation tied to long-term financial gains and share prices. Companies looking at an uncertain future are searching for incentives to motivate executive teams. At the same time, boards of directors are eager to retain their top-level talent so their companies can meet the challenges of today’s erratic business environment.
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