A growing number of American executives are actively seeking opportunities in Europe, a trend fueled by concerns over the current political climate in the United States, according to leading executive search firm Egon Zehnder. Elke Hofmann, Germany CEO of the firm, has observed a marked shift in behavior from US-based leaders, noting a greater willingness to relocate to Europe.
Previously, the financial disparities between US and European salaries often precluded searching for candidates in the United States for German positions. However, the situation has evolved considerably, reflecting broader anxieties surrounding the direction of US policy.
Hofmann expressed understanding, though not endorsement, of the pressure exerted on American companies to dismantle diversity and inclusion programs, even for subsidiaries operating internationally. Companies like SAP and Siemens Energy, she explained, face a difficult calculus: comply with domestic political pressures or risk their ability to operate within the United States. While acknowledging the pragmatic reasons behind these decisions, she emphasized the regrettable nature of the situation. “I don’t want to excuse it” she stated, “but many companies see it as a necessary compromise”. She cautioned against simply codifying diversity and inclusion through formalized quotas, arguing that genuine cultural diversity needs to be ingrained in the everyday functioning of a company.
The recent comments from Meta CEO Mark Zuckerberg, suggesting a desire for “more masculine energy” in the workplace, were met with skepticism by Hofmann. She sharply refuted the notion of inherent gender-specific leadership attributes, highlighting impactful female leaders like Margaret Thatcher and emphasizing that qualities like resilience and emotional intelligence, often associated with different leadership styles, exist across genders. “There are women who can be very tough and there are men with great emotional intelligence” she commented, implicitly critiquing Zuckerberg’s perspective as reductive and inaccurate. The change in hiring trends suggests that the perceived risks of operating under current US policies are beginning to outweigh traditional financial considerations for some high-level executives.
