When you are in the business of providing human capital at the executive level, one of the misperceptions you uncover over time is how little impact industry experience has as a factor in delivering results for clients in spite of its almost perpetual inclusion in job description criteria.
I would never argue the technical experience required in day to day operations. Nor would I argue the in-depth understanding of regulatory and compliance issues required in certain industries. Nor the merits in a family run company with leadership “growing up” in the business. And, industry experience in terms of spotting and taking advantage of trends is valuable.
However, a good leader who is surrounded by that company’s industry experience can depend on the management team to very quickly learn what industry information he or she needs to make the right executive-level call. With open and frank dialogue around the management table the experienced leader can be assimilated into the company’s operations in short order. Rapid business “assimilation” is a trait common to those with extensive experience at a senior level of responsibility. Qualities that make up good executive leadership are frequently transferable skills and a leader with good internal support can learn the company’s product quite quickly. But someone who knows the product cold from years in the industry can’t always be the good executive leader. One cannot “learn” leadership skills overnight.
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