The aim of this paper is to illustrate the skills required of an effective business leader in Europe in the current economic climate and how these have changed over recent years.
The author interviewed 109 business leaders working at European and UK companies. For the research on pre‐crisis comparison, the study used European executive norm data from 360‐degree job performance appraisals collected between February 2007 and March 2008. The 26 competencies were ranked by mean “importance level” as scored by the peers, boss and direct reports of 344 leaders (executives, directors and managers).
It was found that the skills required of European business leaders have changed dramatically since the financial crisis.
The research base, while robust, is limited, and required competencies of business leaders may differ from sector to sector.
Companies should: audit their talent to find out whether they have the necessary New European Executive profiles within their ranks, and put in place plans to keep and develop these individuals; put in place talent acquisition strategies that attract and “test for” these competencies; look to recruit globally; and motivate and make the best use of their most talented individuals.
This new research will be of value to companies who want to ensure they have the most effective leadership.
