Tilman Bender interview with German “Markt und Mittelstand” Magazine
Tilman Bender of TH Bender and Partners.
Tilman Bender of TH Bender and Partners.
Tilman Bender of TH Bender and Partners.
Tilman Bender of TH Bender and Partners.
The business sentiment in the US is positive. In this interview, Tilman Bender discusses how executives can help overseas companies harness the opportunities.
— Tilman Bender, principal of TH Bender & Partners
WASHINGTON, DISTRICT OF COLUMBIA, USA, April 14, 2024 /EINPresswire.com/ — The German business magazine “Markt und Mittelstand” offers cross-media quality journalism specifically for entrepreneurs leading medium sized companies. A recent issue includes an interview with Tilman Bender, founder and principal of TH Bender & Partners, the leading American executive search firm serving foreign companies with business interests in the United States and Canada.
America has been considered the land of opportunity and a constantly growing market simply because of its sheer size. The data is conclusive – North America is the most important trading partner for many companies internationally. However, anyone who decides to expand their US footprint must be aware of the rules and hidden challenges in order to achieve the best Return-on-Investment. Systemic challenges, like finding optimized tax structures or addressing product liability issues can be addressed early on – but European companies often realize that the real challenge is the recruitment of qualified executives.
Tilman Bender has known the U.S. market for decades and provides guidance in his interview with the magazine, entitled “The fight for top people in the USA is tougher than in the European market.”
The U.S. market is attractive because of its size, the above-average economic growth, and the high margins. But recent initiatives have provided an extra boost – for example initiatives such as the 2022 “Inflation Reduction Act” (IRA) and the CHIPS and Science Act. IRA is the largest single climate and energy investment in American history. The intent is to secure America’s position as a global leader in producing and deploying clean energy domestically and to meet the Biden-Harris administration’s climate goals. The IRA Loan Programs Office (LPO) is making a total of around $11.7 billion available in the form of incentives and loans. In addition, a new loan program, the Energy Infrastructure Reinvestment (EIR) Program, is now in place to support the retrofitting or replacement of energy infrastructure that has ceased operations, or to improve the efficiency of infrastructure currently in operation. The CHIPS and Science Act authorizes $280 billion in fresh funding to drive domestic research and manufacturing semiconductors in the United States. The act includes $39 billion in subsidies for chip manufacturing on U.S. soil along with 25% investment tax credits for costs of manufacturing equipment, another $13 billion is earmarked for semiconductor research and workforce training. $174 billion is dedicated to strengthening the overall existing ecosystem of public sector research in science and technology.
Business leaders are responding positively – The Institute for Supply Management (ISM) March 2024 Manufacturing ISM Report On Business published a survey of U.S. supply executives that found that economic activity in the manufacturing sector expanded in March after contracting for 16 consecutive months. See https://www.ismworld.org/supply-management-news-and-reports/reports/ism-report-on-business/pmi/march/
But to partake in these opportunities, a company needs the right leadership. Mr. Bender sums up the main challenge that European companies face and his recommended method for finding such top executives: “The demanding job and personality profiles, the low level of awareness of the subsidiaries [of European companies] and the low willingness amongst Americans to relocate require that companies identify a large number of potential candidates who must be contacted in person and convinced of rewarding aspects inherent to being employed by the American subsidiary of a foreign-owned company.”
Also, Mr. Bender specifically addresses the need to re-learn business operations which are successful overseas but fail in America. An example provided is the low success rate of job postings: “[In the USA] Job advertisements, including postings on well-known digital platforms, produce significantly fewer qualified applicants than comparable approaches in Europe and Asia. Successful employees don’t browse job openings and do not want to jeopardize their existing employment by responding – the only proven method is to reach out to executives on a personal basis and convince them that working for a medium-sized company represents a sustainable career and income opportunity.”
Further insights and suggestions can be found in the online interview: https://www.marktundmittelstand.de/personal/der-kampf-um-topleute-ist-in-den-usa-haerter
ABOUT
TH Bender & Partners specializes in recruiting top managers for U.S. subsidiaries of companies based in German-speaking countries (Austria, Germany, Switzerland, “DACH”). Their services include building and expanding teams, succession planning, filling full-time and interim positions, team evaluations, and compensation studies. With approximately 20 highly experienced employees and a team of German-speaking consultants, TH Bender & Partners is committed to providing unbiased perspectives, reliable assessments, and a long-term perspective. Website: https://thbender.com
“Markt und Mittelstand” is a business magazine that offers cross-media quality journalism specifically for medium-sized entrepreneurs. The editorial team at “Markt und Mittelstand” ensures that their reports are actionable and business-oriented. The magazine is published ten times a year with a circulation of 100,000 copies each. The website is: https://www.marktundmittelstand.de
Reane Rodrigo
TH Bender & Partners
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TH Bender is an American executive search company. Our specialty is the recruitment of successful executives to lead the American operations of companies…
