February 10, 2017 – A vast majority of corporate professionals would much rather take the helm of their own organization than become President of the United States, according to recent survey by Korn Ferry. In a survey of nearly 1,500 respondents, only 15 percent said they would choose being chief executive of the highest office in the land over being CEO of their own company.
“In a way, you could consider the incoming U.S. President as the next national CEO,” said Korn Ferry Hay Group senior partner Rick Lash. “While serving as a corporate CEO is generally considered a very challenging role, executives acknowledge the U.S. President faces hurdles that are much higher than those faced by a leader in corporate America.”
Not surprisingly, 81 percent of respondents said that the role of U.S. President is more complex than the role of CEO at a Standard & Poor’s 500 (S&P 500) company.
Despite that complexity, participants acknowledge the positive reasons one would pursue the Presidency. Nearly three quarters (72 percent) said the No. 1 reason someone would want to be President is to “make a difference.” None of the respondents cited salary or compensation as the top reason someone would want the role.
Even though the incoming President is taking only $1 to assume his position in the Oval Office, the President’s compensation as set by Congress is $400,000 annually — plus $150,000 for expenses and travel. According to 71 percent of respondents, the President would be undercompensated at the standard offered salary at any leading company.
Nearly 50 percent of respondents (46 percent) believe the President should receive at least a $10.4 million compensation package annually, which is the average compensation for a CEO at an S&P 500 company.
How the President Might Build His Leadership Team:
Now that the presidential election is over, and we’ve actually installed a sitting corporate CEO into the position for the first time in history, one question on everyone’s mind is how will President Trump and his top administration build the massive requisite leadership team of more than 4,000 appointees? ….. Here’s some further reading from Hunt Scanlon Media.
How Will Trump Build His Leadership Team?
In the corporate and political worlds, great journeys do not start with a brilliant strategy, but rather with a visionary leader putting together an extraordinary team with complementary skill sets. Two top recruiters here tell us how the new president might get it done.
Contributed by Scott A. Scanlon, Editor-in-Chief, Hunt Scanlon Media