News

We are delighted to announce the launch of our Interim Solutions business, led by John O’Leary. Demand for interim talent is evolving rapidly given changing market conditions and the way employers are structuring the capability and flexibility of their workforces. Interim talent delivers immediate impact, bringing capacity and capability to deliver outcomes across a range of initiatives and settings. This offering provides flexibility and scalability during peak talent needs, with an available bench of specialist capability and expertise.

In our 28th year of connecting high impact talent with Australia’s leading organisations, Derwent is proud to be one of Australia’s largest Executive and Board Search firms. Our leading team of 90+ drives our growth, success and scale in delivering to the clients who entrust us to advise on critical hiring needs. As a challenger brand, we seek out the new and different. We continue to welcome new consultants, and are pleased to announce the following appointments. Jack Evison – Managing Partner, Consumer & Retail, Melbourne Bel Hissey – Partner, Consumer & Retail, Sydney Simon Faircloth – Partner, Industrial, Melbourne Luke Marshall – Partner, Consumer & Retail, Melbourne John O’Leary – Partner, Interim Solutions, Sydney

Derwent recently rounded out its National executive forum series “Digital Growth – It’s a People Thing” in Perth with guest speakers Jenny Bryant and Colin Nexhip , following the success of the series in Melbourne and Sydney earlier this year. Organisations that succeed in driving growth and transformation are the ones that get the people strategies right. There are critical people elements to consider when leading growth and a more sustainable digital future – these include developing the right operating model, organisational structure, aligning the right capability to the structure, and establishing optimal ways of working. Facilitated by Lindsay Every , Derwent’s Group Managing Partner and Digital Practice Lead, Jenny and Colin shared their perspectives and insights on the strategic imperatives for digital growth and transformation, and the role that talent plays in driving this change. Key takeaways from the discussion included: The technology landscape is characterised by constant change, with no periods of stability. This ongoing evolution demands that organisations remain adaptable and proactive in their technology strategies. Across industries, digital transformation has emerged as a recurring top priority. Companies recognise that leveraging digital technologies is essential for maintaining competitive advantage and driving innovation. Organisations are increasingly looking to technology as a catalyst to turbocharge their transformation efforts. This means not only adopting new tools, but also rethinking processes and strategies to maximise the benefits of digital advancements. It is crucial to view technology in the context of the workforce and organisational culture. Successful digital initiatives require alignment between the tools and the people who use them, fostering an environment that supports innovation and collaboration. Companies are focused on utilising technology to improve productivity levels across their operations. This includes streamlining processes, enhancing communication, and fostering collaboration among teams. Balancing technology investments Organisations face a turbulent landscape when balancing short-term and long-term investments in technology. The need to respond quickly to market demands can conflict with the need for sustainable, long-term planning. Companies are learning how to bridge the gap between “digital natives” – employees who have grown up with technology – and those who may find it more challenging. This integration is crucial for fostering a cohesive work environment that maximises the strengths of all employees. Security versus speed One of the key challenges for companies is establishing robust security, governance, and risk management frameworks without hindering the speed of technological advancement. Striking this balance is essential to protect sensitive data while promoting innovation. The urgency to bring new technologies to market poses significant challenges for organisations. Companies must develop strategies to expedite deployment while ensuring that the solutions are effective and secure. Agility can be a game changer. Adopting agile working practices has proven to be transformative for many organisations, allowing them to embed new thinking and innovative approaches throughout the company. This agility fosters responsiveness to change and enhances problem-solving capabilities. Talent and value exchange The technology function is facing challenges in attracting and retaining top talent, given the competitive nature of the market. Companies must develop compelling value propositions to draw skilled professionals who can drive digital initiatives forward. Companies need to strike the balance of “give versus get” to create a mutually beneficial environment where both the company and individual employees feel they are gaining value. This could involve offering professional development opportunities, flexible work arrangements, and a supportive culture that promotes growth and innovation. Sustainability concerns: As technology continues to advance, the sustainability of energy resources required to support these innovations becomes increasingly important. Companies must consider the environmental impact of their digital strategies and seek ways to minimise energy consumption while meeting growing demands.

While women in tech may face unique challenges, such as feelings of imposter syndrome, they are increasingly making significant contributions to the industry. Last week, Derwent hosted a “Women in Tech” breakfast to create a safe space for female leaders to share their challenges and discuss solutions that both executive search firms, like Derwent, and the community can implement to continuously promote diversity in the executive leadership team (ELT). The AFR recently shared staggering figures regarding the decline of women’s paths to the CEO seat, highlighting how much work is still needed. The conversation was led by guest speakers Heather Cook and Memo Hayek , both tech leaders in some of the country’s largest organisations. We heard anecdotes of senior female leaders often feeling the need to continuously prove themselves to be in a position of authority, despite being the technical experts in the room, leading to self-doubt. So what advice is there for women in tech to overcome imposter syndrome? Be deliberate about building a strong network. Surround yourself not only with female mentors but also with allies of all genders. These advocates can accelerate your career and provide support when self-doubt arises. A trusted cohort that shares your values can be invaluable in combating imposter syndrome. Remember that everyone experiences imposter syndrome. It’s all about how we manage those thoughts. While the playing field is not level, reflecting on your successes and acknowledging that you are where you are for a reason can help you navigate these feelings. Careers involve continuous learning. Being open to learning and listening is a strength; you don’t need to know everything. Heather shared her journey into the tech space, highlighting her fortunate experience of having a successful, strong-willed mother as a role model in tech. Similarly, Memo was inspired by her older sister, who studied computer science and paved the way for her own journey. These stories underscore the importance of representation of women in senior leadership roles to create pathways and enable the next generation for success. The Australian Government's Pathway to Diversity in STEM Review , published in February 2024, aims to increase representation of underrepresented groups in science, technology, engineering, and math (STEM) fields. The review states, “Australia must accelerate its efforts not just to address skill needs. Getting STEM-skilled people into these jobs is not enough. Diverse STEM-literate people on Boards and in leadership positions across all sectors is critical to ensure good decision-making in an increasingly technologically advanced economy. Retaining these people in these positions is also critical for ensuring that improved decision-making capability builds over the long-term.” Organisation's need to do more to promote senior female tech talent, but also to encourage younger female generations to enter into the STEM workforce. Support from both women and men for the female community is of utmost importance, especially where this representation is lacking. At Derwent, we are helping our clients navigate these conversations and meet diversity targets, while advocating and proactively building a future pipeline of female leaders to ensure that representation remains a priority.

Derwent had the pleasure of hosting an executive forum “Digital Growth – It’s a People Thing” in Sydney with guest speakers Emma Hogan & Richard Joffe . Organisations that succeed in driving growth and transformation are the ones that get the people strategies right. There are critical people elements to consider when leading growth and a more sustainable digital future – these include developing the right operating model, organisational structure, aligning the right capability to the structure, and establishing optimal ways of working. Facilitated by Lindsay Every , Derwent’s Group Managing Partner and Digital Practice Lead, Emma and Richard shared their perspectives on some of the key success factors for teams and organisations to consider when developing and enabling digital capability. Key takeaways from the discussion included: Great leaders will attract the best, which has a flow-down effect – it all starts with having the right people at the top. Digital strategies are truly the enabler to be more efficient and effective. Culture is critical – remove boundaries, allow people to test and fail, and let them do their best work. Clear KPI’s and the right mix of incentives are key to alignment – people will often do what gets rewarded. Assessing the digital health of an organisation It’s important to firstly understand what technology is currently in place. What’s working effectively? Where is there overlap? How do we align digital and technology plans to the company goals. Get a sense of what digital means to an organisation and the people in different parts of the business. The sophistication of an organisation’s data and analytics capability is often a great measure of its digital maturity. Data drives everything, rather than basing decisions just on feelings or hunches, take the temperature of a team on how they use data. Prioritising areas for digitisation Digitisation is much more about enablement than automation. How do we improve service delivery? How to we deliver to customers who are expecting an anticipatory experience? The age and stage of a business play a key role in establishing priorities. It’s important to protect the core business while also progressing new opportunities to think differently, innovate and enable change. You have to be careful that innovation is not BAU. There should be urgency that a small section of an organisation is working to actively move the needle. Service-based industries can see significant improvements in areas such as marketing, customer service, supply chain etc. Review the decisions and investments you make in digital strategies. A recent BCG article highlighted that less than 40% of companies that have implemented AI or ML have seen any yield. Are their key opportunities or functional areas that are ripe for digitisation? For example, the use of Data Science, Analytics and AI has transformed modern day marketers and allowed them to deliver a level of hyper-personalisation that customers in today’s world now demand. Creating a culture of digital innovation There is a constant tension between digital experimentation and achieving standard business goals. Whilst it’s important to remained disciplined on core priorities, you are able to achieve amazing things when removing boundaries and shifting the thinking about what’s possible when it comes to accelerating digital. A burning platform can change the psychology of how individuals frame the upside and downside. Turning “no’s” into “maybe’s” and positioning “what’s the loss of not doing something?”. People are neurologically wired to avoid losses, so you are able to shift the mindset to accept and grow from testing and failing. As an organisation grows, maintaining a culture of digital innovation can become increasingly hard. What people, processes and systems can be replicated as the business scales? Incentives and culture are inherently aligned. Individuals will behave and perform according to the goals and associated rewards of an organisation. The people elements for success in digital transformation Talent drives digital. The top 10% of a workforce can drive the majority of digital outcomes. Attracting them to the organisation, providing autonomy, and setting them up for success is critical. The storytelling and framing of any digital projects or investments is very important. When done effectively, it can ensure buy in from employees and customers. You can constantly improve the organisational organism by bringing in people who can be the best at something. Leading talent have a flywheel effect.

Derwent are pleased to have hosted more than 50 aspiring Board Directors in Perth to our ongoing Pathway to the Boardroom series. Our guest speakers Nick Cernotta and Jenn Morris shared their perspectives on how to approach the search for a board career and some of the key considerations; the attributes that are currently in demand for boards; and establishing your personal brand and differentiation. Tips for commencing the search for a board role Networking – Re-connecting and expanding your network is vital. Time – Consider how much time will be required. This can change quickly and dramatically depending on what the level of corporate activity is. Balancing an executive position at the same time as a board role – The role of the board in guiding business strategy and performance is just as important as an executive role, so you must be willing to allocate the necessary time to do the best possible job. This includes being across the board papers, industry trends, and future planning for the business. Due diligence is important – assess the organisiation, executive team, and other board members. At Interview – When exploring a Board opportunity, do your research and be thoughtful around the right questions to ask Directors. The questions you ask at a board interview make all the difference. Types of Boards – There are different settings including ASX, privately owned, government and not for profit. If you decide to join a not-for-profit board you should seek organisations or settings where you have a genuine passion and interest. Attributes that are in demand for board members Technology, digital and data, and cyber skills are critical. ESG. Understanding the customer, and being able to translate that to the boardroom level. Establishing your personal brand and proposition Be contemporary and relevant. Focus on your strengths and where you can add value. Be yourself and bring authenticity. Think through how can you differentiate yourself from other Directors Your personal brand is attached to the board’s that you sit on, so it’s important to consider the alignment when choosing board roles. Derwent is delighted to continue to support the next generation of Board talent across both our events programs and directly through our expert team of Executive Search and Board specialists.

Derwent had the pleasure of hosting an executive forum “Digital Growth – It’s a People Thing” with guest speakers Simone Carroll and Rod van Onselen . Organisations that succeed in driving growth and transformation are the ones that get the people strategies right. There are critical people elements to consider when leading growth and a more sustainable digital future – these include developing the right operating model, organisational structure, aligning the right capability to the structure, and establishing optimal ways of working. Facilitated by Lindsay Every , Derwent’s Group Managing Partner and Digital Practice Lead, Simone and Rod provided excellent insight into the importance of leadership and talent in achieving digital growth objectives. Key takeaways from the discussion included: The current economic climate and constraints on resources are shifting the way businesses are driving digital transformation. The criticality of the leadership and organisational structure to the success of digital growth. The need for ongoing investment in people, technology and brand, which are all interdependent. Customer proposition is of course central; however, leaders must be brave, and provide a safe environment to navigate politics so teams can be autonomous and aligned to drive growth. The state of digital and opportunities for growth There is some confusion in the executive's world around how to think about digital strategy within both traditional and digital pure play businesses, with digital ownership and accountability constantly crossing the lines between commercial and technical roles. When considering digital strategies and the potential for AI disruption, adoption in Australia is lagging. There’s a pullback in a willingness to invest hard at this point in time, with digital optimisation as equally prevalent as genuine technology transformation. For smaller businesses, investment in digital has typically covered the low hanging fruit, with a focus on doing the basic things right to get up the curve. Those who have invested heavily are starting to see the fruits. The case for generative AI – how do we become more productive and efficient? Working faster, better, easier and with more insight. Tech enabled change is a differentiator to drive growth and gain competitive advantage. Optimisation vs transformation You’ve got to do both. Both incremental and large-scale changes are required to drive progress. The board and executive need to be able to genuinely see the impact of strategic decisions and investments, so the delivery of capabilities and experiences must be visible. Critical factors for digital growth The customer proposition is the central priority – are we meeting their expectations (“the delivered customer experience”) or are we willing to invest to change customer behaviour? This differs depending on whether you’re a disruptor, fast follower, or established market leader. Customer experience needs to be easy and intuitive – customers will take the path of least resistance. Assess the capability and talent of the executive team. Embedding outstanding leaders is the first step to building a digital capability, as individuals are ultimately the ones who make the calls on digital strategy. CEO buy-in is crucial for digital transformation. There is often a disconnect between the understanding of the necessary investments and what it takes to enact change. Innovation can be stifled by internal politics, and employees must feel safe with technology and prevent fear of obsolescence. Investing in people, technology, and brand, as these elements are interdependent. The people elements for success in digital transformation Great digital talent can have a demonstrable impact on bringing others up the curve. Digital transformation begins with hiring top talent, as the highest percentile digital leaders have a disproportionate impact on the rest of the team and organisation. Once the talent is in place, teams should be set up for success with minimal handoffs and hurdles, and there should be clear alignment on the mission, KPIs and architectural blueprints. Setting up teams for success – creating highly autonomous and highly aligned teams, united on their mission, targets, ways of working, and connectivity. External consultants and providers can be at odds with the alignment of internal plans and goals. Create psychological safety and reimagine what’s possible. Get people to feel safe using technology to progress the business forward, and develop and brand and culture that fosters the right innovation and mindset. Be a champion of the purpose. Reinforced at every stage of the employee journey and connected to the decisions and strategy. Leadership must be brave enough to fund digital initiatives and have difficult, ego-free conversations about what is needed to stay ahead of the curve. While the core of the business remains unchanged, digital leaders must focus on capturing fast-moving consumer trends particularly while most competition is lagging.

Derwent are delighted to have hosted another Pathway to the Boardroom event in Melbourne with over 100 attendees. This ongoing series is designed to provide tips and perspectives to aspiring board members as they explore opportunities beyond their executive careers. Guest speakers Jennifer Douglas and Richard Dammery provided firsthand reflection and advice around the considerations and learnings when transitioning to a board setting. Key takeaways from the discussion included how to manage the transition to non-executive roles, and how to assess the right board opportunity and skills required to add value. Managing the transition from executive life to the board setting: A board’s success is determined by the character and passion of its members. As a result, preparation and research are crucial to ensure that there is alignment for the prospective board candidates to the business itself. The executive skills and board exposure gained throughout a career shape the value one can bring to the board of a company. Before joining a board, one should consider what value they specifically can bring that others cannot. What expertise, industry knowledge and qualifications do you possess that a particular board or company may be lacking? The connections and networks established during an executive career will be the most common source of a first board role. Being proactive with networking throughout an executive career and during the search for a board role will maximise your exposure and improve your luck. Due Diligence when considering joining a board: Joining a board is long term commitment and a process that should not be rushed. Would you be happy to stay with this company for the next 6 – 9 years? Would you personally invest in the company? What passion or interest do you have that relates to the role? Different industries bring different conditions for its board members. Public, Private, Not-For-Profit, Family and Government all provide unique benefits and challenges. Some will have a long-term high regulated focus. Some will have rapid short-term focus with an appetite for innovation and risk. Although less ‘prestigious’, companies outside of the ASX200 are a great place to begin a board career as these roles are often more hands-on and impactful from a board perspective. Four key factors should be assessed before deciding to join a board: The micro and macro setting of the company (industry, competitors and prospects). The people within the company (the current board and executive team). Logistics and risks of the board (travel, location, financial health and legal risk). Indemnity insurance and the legal protection of a board contract offered. Five qualities which are commonly screened for when searching for new boards members are: Intellectual capability. Character, values and ethics. Interest and passion in a particular industry or company setting. Ability to ‘get things done’. Ability to drive innovation and growth. The board setting and thinking for new members: Board members deal with more crisis that an outsider may expect. The board's ability to maintain a ‘cool head’ and navigate challenging circumstances are integral to success. Both COVID-19 and recent disruptive global technology such as Artificial Intelligence have changed the board landscape and approach to risk. Companies are thinking deeply about crisis management and how to best utilise and prepare for rapid innovation. Boards play a crucial role in navigating the complexities that global events and new technology bring. Boards are now seeking constant education and consultation on how to best remain up to date with such significant changes. Boards should consider three different perspectives when making decisions and discussing company affairs. Without a consideration of all three of these perspectives, there can be missed opportunities and unforeseen risks. Directorial perspective. Shareholder perspective. Regulatory Perspective. The relationship between board members and the executive team needs to be close and productive for maximum effectiveness. Any adversarial or elitist behavior will only hurt the company. The board and executive team should share expertise and insight while empowering each other to make the best decisions possible. Productive relationships, particularly between the Chair and CEO, will greatly enhance this capability.