26/08/2023
Countries passing through phases of development, growth, and economic upscaling, face a complex situation around talent shortage. They partly solve their problems by allowing the import of talent (temporarily or in a phased manner), and solve the rest of the problem through various forms of expansion of the domestic talent pool.
If we narrow this subject down to the leadership positions, particularly to the C-suite, this problem changes shape. And if we further narrow down to the position of the CEO (the General Manager of the earlier times), we all know that we are heading for some compromise here or there.
We all know what a 'Basic CEO' should be – a well-rounded generalist of sorts who has a mix of skills, capabilities & experience to say the minimum. That's very much like Vanilla ice cream. When we ask for the 'toppings', it starts getting complicated.
Take a moment or two to imagine the persona of some of the following CEOs:
- Managing a global multi-billion-$, multi-national corporation
- Managing a large family-board managed organization
- Managing a business in a country with an acute forex shortage
- Managing an International Airline or Telecom company
- Managing businesses various kinds of businesses in the 10-100 million $ band.
You obviously see the difference, right?
The last category covers most of the area under the bell curve. That’s where most of the formally structured businesses in an economy would lie, leaving aside the mom-and-pop, startups, larger midcaps and large-caps. These businesses would be scattered across all sectors and sub-sectors of the economy. They would be facing a constant stack of challenges that a small-to-mid-size business would be expected to face. Therefore, they have to be led by caring, careful, and capable Leaders. Leaders who are aware, and agile. Leaders who learn to grow themselves while they grow their businesses.
Today’s CEOs need to be aware of Boardroom & operational expectations around ESG, AI, Disruptive Tech, Digital Transformation, Data Science, and other rapidly evolving subjects. While their core education and experience around Finance, Ops, HR, Marketing, Sales etc. shall always remain extremely valid and important, it's this New Knowledge, New Skillset, and New Capabilities that the New CEO positions will be required to fill in.
India and Bharat has a tall task on this. There is an acute shortage of Top-tier Leadership across sectors. The country is fast entering New Sectors (Semiconductors, Space, Defence …. ). The Management institutions are not structured to produce the volumes or the quality. Much of Leadership-spotting and relevant education should start from mid-to-high school (like Sports), while the country romps through its growth.
Tier-2 and Tier-3 aspirants should not be left behind in this consideration. These aspirants may not be 100% English-speaking metro city-dwellers. In the absence of quality counseling, they might have done their MBAs from non-descript institutions. MBAs alone go to assure nothing.
It's time for India and Corporate India to wake up to create Top-Tier Leaders for building and leading tomorrow’s ‘Atmanirbhar Bharat’.
This is a matter of URGENCY !!