Research Shows Significant Market Demand for XYZ.

• Position: Interpublic Group of Companies Inc. - Brief Article

A Premium Would Be Paid for Those Who Hold New Credential

Research begun earlier this year to investigate potential market demand for the proposed new global business credential ("XYZ") demonstrated "astounding positive results" according to Robert S. Scalea, executive vice president of the Interpublic Group of Companies Inc. Interpublic is a group of advertising, research and marketing communications companies, together representing one of the world's largest resources for communications.

More than four out of every five (83%) CEOs and human resource professionals surveyed said they would be more likely to hire someone for a senior strategic position if that person had the new XYZ credential, and more than half (56%) would be willing to pay a premium to do so--on average about 14% more. A high percentage (42%) would also be willing to pay a premium for professional services consultants who have the XYZ credential--11% more on average.

"Based on other studies we have done in a large number of other industries, these are extraordinarily high numbers," says Scalea. "There is a clear need in the marketplace for this kind of credential."

Finding Qualified Professionals

Investigating these numbers in more detail, the research found a high degree of perceived need and interest in the new credential. Three of every four (75%) U.S. companies, for example, are devoting more resources to strategic skills compared to five years ago, while more than half (54%) of companies' professional services firms are finding it more difficult to identify people with suitable strategic skills.

In other words, CEOs and senior executives are looking for people who have specific attributes, but are having difficulty finding professionals who have these attributes.

What are CEOs Looking For?

Chief executive officers and human resource people were asked what factors they look for in a professional. Attributes that were considered important included knowing which business processes to employ in which situations (49% considered this mandatory and another 28% considered it preferred) and providing strategic insights, not just information (31% mandatory and 44% preferred). Consistent with these findings, the essence of the XYZ is to strategically use knowledge from many competency areas in order to create value.

Another important finding was that among corporations that hire professional services firms for strategic consulting, the skills of the individual consultant are...