Cornerstone Blog

Atlanta, GA, May 3rd, 2023- Cornerstone International Group is excited to announce the opening of its latest office in Montreal, led by Managing Partner Samuel Dergel. Samuel’s firm, DERGEL Executive Search is now the Montreal office of Cornerstone. This new addition to our growing network of offices reflects our continued commitment to providing exceptional executive search and recruitment services to our clients across North America and beyond. 

With over 20 years of experience in executive search and talent acquisition, Samuel Dergel brings a wealth of knowledge and expertise to his new role as Managing Partner of Cornerstone Montreal. CEO Simon Wan is excited about the new addition commenting, “We are thrilled to welcome Samuel Dergel to our global network. With their deep expertise in the North American & French Canadian market and his record of placing high-level executives in various industries,  we are confident that Samuel will be a valuable addition to Cornerstone.”   

“I am thrilled to join the Cornerstone team and lead our efforts in Montreal,” said Samuel Dergel. “Companies are no longer limited to one location. Business is global, and a successful executive search must be able to deliver across continents and worldwide. Joining Cornerstone allows us to serve our client’s needs anywhere in the world, together with partners with a track record of delivering locally across the globe.  Our unique approach to executive search and recruitment and our commitment to client service will be valuable assets to Montreal and beyond companies.” 

Larry Shoemaker, President of Cornerstone welcomed our new Montreal member, “Samuel brings a wealth of experience in serving clients in an important market, as well as a global perspective, that will positively impact our entire organization.”   

Cornerstone Montreal shall help clients all across North America to find the top talent they need to succeed locally and globally. 

We are pleased to announce Walter Baker (Cornerstone Atlanta) has joined the Board of Directors of the International Executive Resources Group (IERG). Baker brings with him a wealth of experience and expertise in executive leadership and management. He has a deep understanding of the challenges and opportunities faced by executives and business leaders, and he has demonstrated a commitment to excellence throughout his career.

Walter has been conducting senior-level recruiting and assessment assignments throughout the United States, and globally, for more than 25 years. A key component of his practice has been identifying and recruiting leaders for strategic global positions: over 50% of his projects have been for executives to lead global or regional enterprises. More than 75% of his business is from repeat clients, and 70% of his work is for executive positions at the Vice President level and above.

In his new role on the IERG Board, Baker will be able to share his knowledge and insights with other board members, helping to guide the organization’s strategic direction and priorities. He will also be able to leverage his extensive network of contacts and relationships to support the IERG’s mission and goals.

“His expertise and success rely on a quantitative, disciplined approach and a rigorous verification of candidates for high-value positions. He finds the best candidate for a job, not the best candidate looking for a job. He has conducted over 350 assignments around the world and is intimately familiar with the drivers of successful leadership in both the public and private sectors. Over 60% of his projects have been for global or regional enterprises and over 65% of his work is for executive positions at the Vice President level and above.”

To read the full statement visit the link here.

All businesses in this technological era, including those previously slower to do so, have moved quickly toward digital as a result of the pandemic. The pharmaceutical industry has not been exempt from this phenomenon. The question now is whether the extraordinary impact of COVID-19 and the growing prominence of digital innovation will continue to alter pharma operations profoundly.

The response is yes: since the pandemic began, there has been a global rise of 27.8% in traffic to health and medicine websites. An increasing proportion of patients actively search for health and medical information online.

Technology has facilitated access to health information, changing how people learn about medications and other personal health issues.  It has changed how they interact with their doctors to achieve personal goals. Patients now have more access than ever to pharmaceutical companies and healthcare information. Let’s examine some recent and projected industry figures for the worldwide pharmaceutical sector.

Global Pharmaceutical Industry – Statistics (US$)

This graph, including prescription and over-the-counter pharmaceuticals, illustrates the global pharmaceutical income from 2012 to 2026 (2023 to 2026 projected), broken down by technology. Additionally, medical income from biotechnology in 2019 was $266 billion, compared to S469 billion from conventional pharmaceuticals and $175 billion from unclassified technologies.

Biotechnology allows pharmaceutical products to be produced using living organisms and systems. For example, artificial human insulin is often used to treat diabetes.

The pharmaceuticals market comprises businesses that develop and sell drugs and associated services. According to research presented on Global News Wire, the market is anticipated to reach $1700.97 billion in 2025 at a CAGR (Compound Annual Growth Rate) of 8%.

Implementing Digital Transformation in the Pharmaceutical Industry

If the digital revolution is successful, it will significantly alter how pharmaceutical companies operate. The ability of businesses to adapt to digital marketing will determine whether future domestic sales growth will improve.

1.   Create, Distribute, And Connect with Potential Clients

Pharmaceutical companies may be in the most regulated global industry worldwide due to the complexity of GMP (Good Manufacturing Practice) requirements and various other regulatory restrictions regarding advertising and marketing. A strong digital strategy must be implemented to carry out successfully a company’s corporate marketing plan.

2.   Utilize Cloud Technology

Anyone using the internet at home or work has at least heard of cloud computing.  According to the comprehensive website Simplilearn, “Cloud computing is the process of delivering on-demand IT services, including analytics, databases, networking, servers, and storage via the internet.” The pharmaceutical industry is implementing advances in technology, and it must accelerate plans to adopt cloud systems. Thanks to cloud technologies, pharmaceutical companies will be able to work with various stakeholders more successfully. Increasing data integrity is a benefit of using cloud technologies.

3.   Speed up the Adoption of Digital Methods

The pharmaceutical industry must speed up its drive to implement digital technologies. Many manual (analog) methods are still in use today due to legacy inertia. But now, many paper-based processes have been replaced with digital ones, which has increased operational effectiveness and made it simpler to adhere to SOPs. This shift must increase. Furthermore, digital processes will promote legal compliance.

Worth reading: How key digital technologies and their use cases can help solve the Counterfeit Drug Problem to achieve Pharma 4.0.

Production processes and supply chain elements embedded in an Internet of Things (IoT) production process can address the counterfeit drugs problem effectively. These “continuous manufacturing” medication production facilities are entirely new and integrated.

In contrast to stepwise production, fully integrated manufacturing is referred to as continuous manufacturing in the pharmaceutical industry and other sectors. Integrating a process adds benefits where quality assurance expenditures are significant. Safety systems try to stop toxins from escaping buildings. When a situation gets serious, a plant is shut down gradually to minimize safety risks and potential damage to the facility.

List Of Technologies That Enable Digital Transformation in The Pharma Industry

1.   Automation

With automation, the pharmaceutical supply chain is being digitally transformed. According to reports, automation has helped the healthcare sector cut annual administrative transaction costs by $122 billion.

• Automation in Drug Manufacturing
• Robotic Process Automation (RPA)

2.   Blockchain

Blockchain technology has the potential to revolutionize the pharmaceutical industry by increasing transparency. Lack of communication among medical specialists may cost the sector $11 billion annually. Blockchain-based ledger technology can help reduce misunderstandings and safely transfer patient medical information.

3.   ML (Machine Learning) and AI (Artificial Intelligence)

By 2025, it is anticipated that the market for AI technology will grow by over $100 billion. AI innovation in the pharmaceutical industry has significantly increased over the last few years.

Conclusion

The distinction between the real and virtual worlds is becoming hazier than ever. Given the direction the internet and technology are headed, this trend will continue.

Switching to digital procedures may offer a variety of advantages, such as streamlined and speedier operations, more straightforward client communications, and more cohesive projects amongst different personnel.

Digital transformation is a cultural transition that necessitates ongoing trial and error and landscape adaptation for companies. It is not a “one-and-done” change.

We are pleased to announce that Cornerstone Kansas City is growing its market reach with added resources in St. Louis. This expansion is part of our strategy to bring exceptional executive search services to more client companies in the Central Midwest. 

Cornerstone St. Louis will be led by Market President, Tony Schnell. Tony brings a highly successful career in the medical device manufacturing sector to Cornerstone and will serve new clients not reached by our current footprint.   

With this addition, we are confident in our ability to meet the growing demand for executive search services beyond Kansas City. Cornerstone St. Louis will serve a variety of industries specializing in mid to senior level executive leaders based on client needs and goals.  

And as we continue to grow and expand, we remain committed to our core values of Service, Integrity, Optimism and Stewardship. We look forward to serving the St. Louis community and connecting with you soon.  

Atlanta, GA, February 6th, 2023- Cornerstone International Group officially launched its new logo last month, making it Cornerstone’s first logo change in 34 years. The global talent solutions group announces the change with a short video ending with the statement “New Logo, Same Mission, Same Cornerstone.” 

The new emblem’s four interlocking “Cs” show that while Cornerstone consists of a global group of members with various backgrounds, it is united in serving its clients. With vibrant red and blue colors, the progressive symbol illustrates the diversity and inclusion Cornerstone represents. 

CEO Simon Wan says, “the change was a timely move to reflect the high standards we set for ourselves and achieve at Cornerstone.” 

Cornerstone International Group strives to build relationships of trust, thus positively impacting organizations and professionals worldwide. Now in its fourth decade, Cornerstone has thrived because of its local experience, global reach, and ownership mindset, which enable clients to succeed and grow. 

President Larry Shoemaker notes that members are pleased with the message of strength and unity conveyed by the four interlocking “Cs.” “We are all excited about the future of Cornerstone. The new logo reinforces our commitment to contribute to our clients’ success by supporting their talent needs anywhere in the world.”  

By Nance MacLeod, Chief Coaching Officer, Cornerstone Toronto -Executive Coach Global 

You have probably noticed airport bookstores cluttered with the latest batch of business books, their time on display shelves lasting little longer than cut flowers. One of the few with staying power is Daniel Goleman’s 1995 bestseller, Emotional Intelligence. Goleman introduced the concept to a wide audience of parents, teachers, and businesspeople – men and women responsible for interacting in constructive ways with their charges, be they children or teams organized to carry out a company’s goals.   

Though Goleman popularized the term, Emotional Intelligence (EQ) was first coined by psychologists John Mayer and Peter Salovey in 1990. However, the concept of EQ has been around for much longer, traces arguably going back to classical Greek philosophers.  

But this is not the place for a lecture; rather, I’d like to remind business leaders why Emotional Intelligence (the concept, and not just Goleman’s original and more recent books) remains evergreen. It is still current because the original insights and concrete strategies are still relevant, and because our understanding of Emotional Intelligence has increased over time. This is due in part to the increasing recognition of the importance of EQ in various areas of life, such as leadership, relationships, and personal development. As a result, more people may be focusing on developing their EQ and incorporating it into their daily lives. 

Here is a definition and an important distinction: Emotional Intelligence is a measure of a person’s ability to understand, manage, and use their own emotions and the emotions of others. It is a type of social intelligence that involves the ability to perceive, express, understand, and regulate emotions. In negative terms, the rise and sometimes toxic effects of social media underline the importance of freeing ourselves from destructive emotional echo chambers. 

Intelligence quotient (IQ), on the other hand, is a measure of a person’s cognitive abilities, such as their ability to learn, reason, and solve problems. IQ tests are designed to measure these abilities by assessing a person’s ability to perform a range of tasks, such as spatial reasoning, logical thinking, and problem-solving. 

For many years schools and businesses focussed on IQ while EQ swirled around unseen, or at least underappreciated.  No more.   

Is Emotional Intelligence an inherent quality, something we are born with, or can EQ be developed? Good news: research has shown that leaders can practice proven techniques to enhance their emotional intelligence.   Goleman’s and other books, articles in business journals, and even online texts contain practical EQ-enhancing tools.   

The results of time spent on increasing one’s EQ can be impressive.  They include: 

1. Better communication and collaboration: Leaders with high EQ are better able to understand and respond to the emotions of others, which can facilitate better communication and collaboration within the team. This can lead to improved teamwork and productivity. 

2. Improved decision making: Leaders with high EQ are able to take into account the emotions and perspectives of others when making decisions. This can help them to make more fair and effective decisions, which can lead to better outcomes for the team and organization. 

3. Enhanced ability to handle difficult situations: Leaders with high EQ are better able to handle difficult situations and to resolve conflicts in a way that is fair and beneficial to all parties involved. This can help to create a positive and productive work environment. 

4. Greater personal and professional satisfaction: Leaders with high EQ often experience greater personal and professional satisfaction. This is because they are better able to manage their own emotions and to create positive relationships with others, which can lead to a more fulfilling and enjoyable work experience. 

Overall, having high EQ helps leaders to be more effective in their roles and to create success for themselves, their teams, and their organizations.  

THE CORNERSTONE EAGLE is the newsletter for senior executives, friends and partners of the Cornerstone International Group around the world. The Eagle is majestic, free and towers above all else when gracefully gliding the currents in the air. The Cornerstone International Group likewise feels close affinity with the Eagle, in professionalism in our practice, honesty and integrity in all our interactions, and making positive changes in our work and processes to improve and create added value for our clients and candidate

Download The Cornerstone Eagle – December 2022

By Larry Shoemaker, President

An article published by McKenzie & Company in June, Resilience for Sustainable, Inclusive Growth, noted that “today, the world is beset by several crises of global importance,” then went on to discuss a number of these in detail.  Five months later these same crises are even more severe. The Conference Board’s Measure of CEO Confidence™ fell to 32 to start Q4, reflecting the deepest level of pessimism their quarterly CEO survey has found since 2008-2009.  

From all indications, difficult times will persist for quite some time. The steps leaders take today will greatly influence how they navigate the challenges and ensure their organization’s future.    

Success tomorrow requires focus on what you can impact today. Your short-term actions determine how successful your organization will be. Each organization and situation has different challenges, but there are some actions that every leader must take to increase the probability of success. Not surprising, many of these actions concern people.   

A Way of Thinking 

Difficult times have resulted in a new term, “productivity paranoia.” In September, Microsoft published a survey from 20,000 people in 11 countries which reflected people are working more than ever, while leaders are questioning if their employees are being productive. The perception gap is huge – 87% of employees report they are productive at work, while 85% of leaders say that the shift to hybrid work has made it challenging to have confidence that employees are being productive.  Perhaps the question should be whether activity or impact is the goal, and how it is being measured.  There must be transparency in defining what is more important. Once it is agreed on, it must be communicated. Any lack of clarity will erode trust. 

Culture is a critical key to success. My simplified definition of culture is “how we do things around here.”  Leaders must examine their organization and ensure it is prepared for a rapidly changing, complex environment that includes ongoing disruptions which could have long-term consequences.  Open, two-way communications are required. Dialogues must ensure the term “status-quo” is removed from the organization’s vocabulary and replaced with “adaptability.”  Employee engagement, based on mutual respect and trust, is required. Everyone must believe they have responsibility to contribute to the organization’s success and will be held accountable for their performance. A clear understanding of expectations, and a commitment to deliver them, is every employee’s responsibility.   

A Way of Acting 

Decisive, quick actions propel organizations. It is important to do things right, but too much analysis leads to slower decisions and missed opportunities. Willingness to take calculated risks and respond quickly sets the tone for resilience. The inclination to make decisions without having as much information as preferred establishes an“ action oriented” culture, but to be effective, it must also include willingness to accept responsibility for those decisions. Every decision or action will not be right, but organizations and individuals with resilience will rebound from mistakes and grow stronger.  In many organizations, employees who are prepared to make decisions are not permitted to do so.  Passing this authority and responsibility along to employees expands their potential to contribute as well as their personal development.   

Getting There 

People are the building blocks for resilient organizations.  Employees that are capable, feel they are part of the organization’s success, and want to provide input, are required.  Every current employee in the organization may not have this ability, but many will, and with training and development, many more also can. An additional insight from the earlier-mentioned Microsoft survey is that about 75% of employees noted they would stay at their current company longer if they could benefit from learning and development. Resilience includes providing your current employees tools for their success, which in turn enhances your organization’s success. 

Every new hire is an opportunity to bring the “right individual” into your organization and is an important step for the organization’s future.  Perhaps this statement by Joe Trammell, owner of Texas CEO Magazine, says it best “each time you hire, you have a choice to either hire the best possible candidate or to hire whoever is most affordable or available. Look for talent always. Also, make sure you have a culture that encourages skills development, creativity, and job advancement. Otherwise, you risk wasting and losing the talent you worked so hard to recruit in the first place.”  Resilient organizations require the right employees – those that fit their culture and are committed to their performance.  The time and effort to make certain you achieve a successful hire is an investment in your future.   

Committing   

Change is inevitable.  Resilient organizations can quickly recover from disruptions, and even become more successful. Culture is the framework within which resilience resides. The environment must encourage. Employees who are committed and connected have a positive impact on business results.  Those who know what they are accountable for typically perform well. 

Resilience includes having a culture that is based on responsibility and accountability, the right people, and efforts to prepare them to succeed. People must have the ability to think creatively, be curious, and want to be part of the organization’s success. These personal characteristics must be part of the evaluation process for new hires and internal promotions, and leadership must support them in every decision.  Getting there is a journey, but well worth the process. It isn’t free, but if done with purpose, it is well worth the investment. 

We at Cornerstone International Group help clients around the globe build resiliency. Are you and your leadership team focusing enough on resilience? 

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Larry Shoemaker is President of Cornerstone International group, and founder of Shoemaker & Associates/Cornerstone Atlanta.  He has helped clients build and develop leaders to meet organizational challenges for more than a quarter century. 

By Lina Sintes, Partner and Managing Director, Cornerstone Bogotá, Columbia  

Early in True Grit (the 1968 novel and movie adaptations) Mattie Ross encounters the man she intends to hire: Reuben “Rooster” Cogburn.  Mattie has been warned that Cogburn, ageing, overweight and a drunk, is moreover a “crazy vagabond.”  But when they meet, she recognizes he has the quality she needs to accomplish her mission. A 14-year-old girl, she needs help tracking down the man who killed her father. As she says to the baffled gunfighter, “They told me you had true grit and that is why I came to you.” She hired him, and in the end, they got their man. 

The word grit has had an interesting journey, starting from greot, an Old English word for earth, sand, or gravel. From the early 19^th century, the abrasive denotations of the word world began to connote positive personal qualities. “I admire your sand,” the town horse trader grudgingly admits to Mattie.   

Angela Duckworth is a professor of psychology at the University of Pennsylvania.  Her research focuses on the relationship between achievement and character: is there a missing link between IQ and talent, and ultimately success? Her findings suggested that one word conveys the, well, grittiness needed to achieve goals.  Her 2013 TED Talk, “Grit: The Power of Passion and Perseverance,” has attracted over 28 million viewers.  Her 2016 book of the same name became an instant bestseller. As an executive recruiter, I sensed that her research findings could provide valuable insights into selecting the right candidates for executive positions. In fact, they are valuable lessons for anyone who wants to maintain their edge:  

1. Strike a balance between competence and confidence. Trust your abilities but work hard to improve them. Put aside your ego to listen to others.  

2. Find trainers/ mentors who will praise your accomplishments but challenge you to extend your boundaries.   

3. Practice deliberately to become a better version of yourself. Malcolm Gladwell says that mastery requires 10,000 hours of practice, which are not always fun. But mastery requires pushing aside complacency and boredom.  

4. Find a support group that can help you through the rough patches. 

5. Most importantly, never quit on a bad day.  There are times when emotions blur objectives, when it is easy to simply slide off the wagon. But then you’ll have to live with the regret of not sticking it out to the end. 

These are important personal standards. They are also character traits that executive recruiters are looking to discern in executive hires, those who need to have the grit to carry out formidable challenges.    

By Lina Sintes, Partner and Managing Director, Cornerstone Bogotá, Columbia  

Come gather ’round people 
Wherever you roam 
And admit that the waters 
Around you have grown 

These are the first lines of the iconic song Bob Dylan recorded nearly 60 years ago, and the “waters” — political, economic, geographical, and social uncertainty – are still growing higher around us.  Googling “uncertain world” generates 560 million hits in less than a second. Pandemics, the threat of nuclear war, the certainty of climate change threaten all of us. (Though, for far too many, finding food to eat, water to drink and medicines to escape diseases already tamed in the First World are more pressing uncertainties.) 

The business world has not escaped the relentless waves of uncertainty.  As Joerg Esser pointed out recently in the Harvard Business Review,  

“The Covid-19 pandemic, the war in Ukraine, the reshuffling of supply chains and capital structures — the past few years have seen unprecedented disruptions, and the turmoil shows little sign of letting up any time soon. Challenges abound, and companies are finding it nearly impossible to plan for the future.”¹ 

But I believe we must maintain a positive attitude regarding the vicissitudes pummeling personal and corporate life. I have studied the literature on uncertainty, and the four counsels below strike me as beacons that will help us keep our heads above water. 

1) Establish clear and visible goals for yourself and your team: These goals should be challenging but attainable.  Break down large goals into “chunkable” portions that will allow you to recognize and celebrate real achievements along the way.  Psychologists have shown that early wins encourage us to stay the course until the ultimate goal is reached.    

2) Concentrate on your sphere of control:  It’s easy to blame external factors when plans go awry.  Keep a flexible open mind regarding events you cannot control; focus on what you can control. A focused mind will increase your chances of being successful. 

3) Be “indistractable”: Traction literally means “to pull,” so distraction is the opposite — to draw away from. “Indistractable” is a slang word popularized by behavioral engineer  Nir Eyal in his book  Indistractable: How to Control Your Attention and Choose Your Life. You become indistractable when you can identify what brings you closer to your goals – the “aha” moment that generates traction and results in both your and your company’s valuable use of time and effort.  Urgent activities (e.g. scrolling through your social media) can become distractions when they lead way from important activities, such as buckling down and carrying out important tasks.  

Of course, the old adage about “all work and no play” still applies; no one can be 100% indistractable. Taking a break can provide you and your team with positive camaraderie which can translate into more productivity. But being distracted responsibly is the key consideration.   

4) Surround yourself with the positive energy you need: This is a subtle attribute – when first encountered, people and places can give off misleading energy “vibes”.  It takes skill to be able to discern energy that is both positive and sustainable. (Making these types of discernments are part of the skillset of Executive Recruiters.) It is important to surround your company – and yourself – with people who need not be pushed to achieve.  Even if they are subordinates, people with positive energy can help you be a better version of yourself!   

Although the swirling sea of uncertainty is in many cases out of our control, what is within our control is the extent to which we allow it to affect our lives.  Keeping calm and becoming “indistractable” can even mitigate the impact of uncertainty on our company’s fortunes.  Ultimately, our energies should be focused on becoming better versions of ourselves as individuals, as corporate leaders, and as members of society, despite the changing times.