Company boards are on the hunt for chief executives with a new approach to doing business, according to a consultancy firm.
A report, released by leadership advisory firm Heidrick & Struggles, found a new brand of chief executive is in high demand - one that can adjust quickly to changes, incorporate new ideas and foster environments of innovation.
Andrea Waines, partner-in-charge of the Auckland office, said this led to a domino effect as chief executives made changes to their entire executive teams.
"As boards continue to question company weaknesses exposed by the global financial crisis, this is putting more pressure on the CEO and the executive team to make change and deliver results," Waines said.
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The realisation that the economic climate would not change for a while had caused high turnover at the top, she said.
The report found that even standard models of politics and economics were changing.
One chief executive said the model of sustaining an economy through strong GDP growth would struggle to support defence, infrastructure and social support in the future.
Another said one manufacturing job indirectly employed five people in most economies, but that could be threatened by out-sourcing.
Waines said there was pent-up demand in New Zealand for talent, as companies focused on hiring fewer leaders that were more skilled and higher-paid.
"We are being asked to find leaders, whether CEO or top team members, who know how to grow a business, who can think outside the square about how to tackle new markets, new geographies, new business models," she said.
The report found that leaders were becoming more forward-thinking and surrounding themselves with a strong variety of viewpoints.