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Lima, Peru – A globalised labour force impacts talent markets in developed and emerging markets alike, bridging continents and challenging public and private entities in every industry. How do boards tackle talent issues? How has the global workforce impacted board composition and diversity?

At a recent business breakfast event in Lima organised by Pedersen & Partners in association with Club Empresarial Peru, the business community had a chance to analyse, discuss and debate the complex issues of business consolidation and development in light of recent Executive Search and Corporate Governance trends, during two sessions which were lead by keynote speakers Paola Gutierrez Velandia, Regional Head of Board Services for Iberia & Latin America and Elisa Martinez de Miguel, Client Partner at Pedersen & Partners Spain and Latin America (LATAM).

The trend toward a competitive global economy has generated an array of challenges and opportunities and this is reflected in the statistical numbers – 40% unemployment at global level has shifted the paradigm – and emerging markets are the ones that create jobs nowadays. Talent mobility can be perceived as either a threat or opportunity; nationalities have stopped being relevant in today’s market. A distinct shift in the business pace and origin vs profit entry for many European businesses has changed – 70% of sales and profits in European companies come from other countries. In the last 5 years, most of the profits earned by Spanish companies came from outside Spain, mainly LATAM. Moreover, many LATAM companies use Spain as a natural hub for their European operations and important family offices acquire Spanish firms.

“The differences in the talent demand in Europe and Latin America reflect the development of particular industries in each region. The demand in the Industrial and Tech sectors is largely the same for both regions, but this is where the similarities end. European businesses demand talent for Pharma and Financial Services most of all, followed by Services, Retail and FMCG, with almost identical shares. The largest client for recruitment in LATAM is Retail, followed by Services and FMCG. We also must take into consideration all the new positions and roles on the market, mainly in the Technology, Life Sciences, Green Economy and Corporate Governance sectors, which need different knowledge and training,” explained Elisa Martinez de Miguel.

Boards are faced with associated challenges that require board diversity in a broad sense, and they must take into account the diversity of geographies, gender, skills, and background. Innovative boards should be composed with due consideration of the ownership structure, the industry legal framework, and local and international corporate governance standards. “The best way to accomplish this is to have a transparent and objective nomination and appointment procedure to identify board candidates and to evaluate them periodically. Modern boards must effectively address the following key issues: digitisation, risk management, internationalisation, talent attraction and retention, shareholder activism, and succession planning,” advised Paola Gutierrez Velandia, Regional Head of Board Services for Iberia & Latin America.

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"The subjects that were debated during today’s event have a significant impact on the daily modus operandi of the business environment – not only in Peru, but across the globe. The 40 managers who attended the event learnt valuable lessons about the significance of a global mindset when recruiting talent for the development of a sustainable, agile, and innovative organisation. The human capital at its core is what drives the organisation forward, while a diverse board can guide and direct the entity towards continuous improvement and growth,” concluded Cecilia Ibarra Posada, Country Manager for Peru at Pedersen & Partners.

Pedersen & Partners is one of the fastest-growing, fully integrated Executive Search firms worldwide. The firm celebrated its 15th anniversary in January 2016, and to mark this occasion, it has created a timeline web page, featuring key milestones for the firm’s development and has released an anniversary video.

Cecilia Ibarra Posada is the Country Manager for Peru at Pedersen & Partners. Ms. Ibarra brings over two decades of experience in multinational companies from the Education, Technology, and Industrial sectors. Ms. Ibarra has held positions with AT&T Latin America, Microsoft Peru and Nextel in commercial, sales, and marketing and communications roles, and also as a training and development specialist. Since joining Pedersen & Partners, she has successfully completed senior management assignments for local and global companies in a variety of sectors, including Construction, Retail, FMCG, Technology and Media.

Pedersen & Partners is a leading international Executive Search firm. We operate 56 wholly owned offices in 52 countries across Europe, the Middle East, Africa, Asia & the Americas. Our values Trust, Relationship and Professionalism apply to our interaction with clients as well as executives. More information about Pedersen & Partners is available at www.pedersenandpartners.com

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