But the requirements for an executive search that Michael Kelly Associates performed last year for Procaps Group were as challenging as any the company has faced.

For one thing, the firm not only had to find a director of investor relations for Procaps, it had to do so before the maker of drugs, nutritional supplements and hospital supplies went public by merging with a special purpose acquisition corporation, or SPAC. That gave Michael Kelly Associates 45 days to fill the position.

Additionally, even though the SPAC that was taking Procaps public was based in the U.S., Procaps is based in Colombia, so the candidates for the position had to be bilingual. They also had to have contacts among securities analysts who follow healthcare and/or pharmaceutical companies, so they could make investors aware of Procaps. And finally, because Procaps’ executive office is in the Miami suburb of Aventura, Fla., the candidates had to be willing to live in South Florida, which hasn’t traditionally been a pharmaceutical industry hotspot.

Despite all that, Michael Kelly said, his company was able to find Procaps five qualified candidates within 30 days of starting the search, and one of them, Melissa Angelini, was the person the company wound up hiring.

“It was an incredibly successful search with the time pressure,” Kelly said.

It was also the kind of search that firms such as Kelly’s have been asked to do more of the past two-plus years due to the popularity of SPACs.

Also known as blank-check companies, SPACs are publicly traded companies that use the money they raise from selling shares to acquire privately held companies. Typically, a SPAC announces it is going to do an acquisition in a specific industry, raises money, looks for acquisition candidates in the industry and turns the one it settles on into a publicly traded company by buying it.

In Procaps’ case, it was bought by a SPAC called Union Acquisition Corp. II in a $1.1 billion deal that was announced in March 2021 and completed six months later, turning Procaps into a publicly traded company whose shares are traded on the NASDAQ stock market under the symbol PROC.

SPACs have been in existence for many years, but their use exploded the past two years. In 2020, SPACs raised $83.4 billion through initial public offerings, nearly twice the total amount they raised in the preceding 10 years, according to research company Statista. They almost doubled that last year, raising $161.8 billion through IPOs, Statista said.

Kelly learned about Procaps when he paid a visit to WM Partners, a private equity firm specializing in middle market health and wellness companies based in Aventura. WM’s co-founder, Jose Minski, is a member of Procaps’ board of directors and the brother of Procaps CEO Ruben Minski, and told Kelly that Procaps might be able to use his services.

Kelly held a Zoom call with Ruben Minski. Since Kelly is a triathlete, he is familiar with nutritional supplements, which are among the things Procaps makes. That resulted in Kelly getting into a fairly lengthy conversation with Ruben Minski, which ended with Ruben Minski saying he’d let Kelly know if Procaps was going to use Michael Kelly Associates.

“He called me back a few weeks later and said, ‘We need somebody in 45 days. We’re going to merge into a SPAC,’” Kelly said.

The SPAC subsequently got delayed, but Kelly’s firm more than met the deadline.

“Procaps had the candidate they hired within 30 days of opening the search, which I think is pretty remarkable,” he said.

Photo Credit: Michele Blackwell on Unsplash

And sometimes, the board is no longer even looking.

Boardroom diversity has become a growing priority in the United States, in some cases due to legal requirements and in others because there is a recognition that sameness can produce blind spots or even stagnation.

Michael Kelly Associates has increasingly engaged clients who wish to undertake boardroom diversity assessments and initiate their executive search for the right people to infuse new perspectives into their leadership trust.

This is a trickier process than some may be willing to admit. Beyond the uncomfortable philosophical questions diversity and inclusion may bring to the table, there is the simple reality that good, intelligent, capable people come from all backgrounds and age groups, men and women, and it's vitally important to keep this truth front of mind.

How and whether board diversity will bring benefit to a company is influenced greatly by the structure and habits of the board itself, as the Harvard Business Review found in a series of interviews with board directors around the U.S.

Diversity is most likely to help companies that have a more egalitarian and collegial structure than those that operate hierarchically. If top executives don't value regular input from across the board, it's going to be difficult for anyone to gain traction and exert a positive influence, regardless of their background. This is where any executive search can be self-limiting, whether diversity is a priority or not.

When our firm approaches diversity assessments, we look carefully at how the board functions, how it’s steered and where its vision may be blurry in order to understand the company's needs. This is what makes the difference between diversity as a form of "tokenism" — which is undesirable for everyone — and diversity as a path to augment a board's cultural identity.

In building a great board, the emphasis should always be placed on superb skills and expertise. When board leaders have an unconscious bias about where to find these attributes, they often default to what seems familiar. Maybe it's a person they know well, professionally or socially, or someone whose industry reputation is well-established, but not assessed in terms of how well the skills translate to the direction of the board's best interests.

Consider the possibility of a company establishing a manufacturing foothold overseas. Maybe one candidate has had success elsewhere in the world, but not in the location where the company is building a presence. In these cases, seeking a board member who can seamlessly foster relationships in the target market is an obvious advantage for companies willing to look beyond their familiar circle.

As another example, consider a company whose customer demographics are not well-aligned with the composition of the board. Bringing in a person who has fresh insights into the customer base and can spearhead new relationships is a critical advantage.

A successful board diversity assessment is one that examines how diversity can optimize business and leverage the soft skills of a candidate's life experience, relationships and professionalism. There is no sacrifice to be made in qualifications. The company only stands to gain from embracing the institutional knowledge that comes with diversity. 

The most important step a board can take is shedding the notion that making a "diversity hire" is merely fulfilling a modern expectation. This is a harmful and superficial point of view, one that misses the incredible potential that diversity represents when searching for real world expertise.

At Michael Kelly Associates, our assessments always look first at what a board fundamentally needs to thrive. Which areas may be lacking? Where could performance improve? What kind of leadership talent is missing? Often, using the lens of diversity reveals that the answer to these questions lies in a homogenous board that doesn't invite enough input to know what's holding it back.

Board diversity will only be valuable to a company that sees it as more than a box to check. Those who understand that these changes in the executive space are long overdue will recognize that diversity is an expansive framework for the board of the 21st century.

It's the difference between avoiding a mirror and looking out of a window.

Photo by Benjamin Child on Unsplash

This recognition by Hunt Scanlon is a testament to our firm’s deep understanding of the unique challenges and demands currently facing the financial services industry and the extensive network of clients we have delivered successful candidates for. 

“The financial services industry plays a pivotal role in the constantly fluctuating world economy. It is, therefore critical to place the best talent into leadership positions that will ultimately steer our financial system in the right directions.”-Hunt Scanlon

With our Small Firm Advantage, Michael Kelly Associates is positioned to meet the needs of our clients with unprecedented speed. Our unique grasp of the financial services industries emboldens us to drive outperformance and ensure client success, satisfaction, and retention for long term mutually beneficial relationships.

Our mandates over the past several years include recruiting senior level executives (and teams) in the Insurance, Investment Banking, Commercial Banking, Retail Banking and Wealth Management sectors. We count some of the largest banks in the country as our clients and enjoy working with local and regional banks as well.

Our latest recognition by Hunt Scanlon further demonstrates our history of distinction in the healthcare and life sciences executive recruitment space and solidifies our position as a leader in the field for delivering consistent and satisfactory results for each and every client.

“In times of economic uncertainty, innovative leaders are key to helping companies navigate severe disruptions in policy, accelerated market trends, and drastic changes to everyday operations — especially when it comes to the healthcare and life sciences sector.” -Hunt Scanlon

As a small firm, Michael Kelly Associates is uniquely positioned to meet the needs of our clients with unprecedented speed. Our unique grasp of healthcare affairs emboldens us to drive outperformance and ensure client success, satisfaction, and retention for long term mutually beneficial relationships.

Our breadth of experience extends across the healthcare sector, including executive and board placements at private equity funded companies, public companies and non for profit healthcare systems.

In the world of private equity, travel and site visits are often hallmarks of due diligence in cementing deals.

But more than six months into the COVID-19 crisis, are private equity executives willing to take the risks associated with travel?

Findings from a new survey conducted by research platform proSapient appear to indicate that many in the industry are prepared to travel in order to ensure that they have a competitive advantage.

The survey asked 100 private equity executives at general partners around the world about their attitudes on travel during the pandemic. Their titles ranged from analyst to CEO. Just over half were senior partner-level or above.

More than half of them — 53% — said they consider travel to be "very important" to securing a competitive advantage. Another 35% consider it "somewhat important."

About 80% said they would be willing to travel to due diligence an asset, while 70% said they are willing to quarantine to do so. Only 41% said they would quarantine for longer than a week, however.

The results of the survey included 59% of responses based in Europe and 27% based in the United States, where private equity dealmaking was hammered during the second quarter. Dealmaking was down about 20% in the first half of 2020 compared to the first half of 2019.

One of the greatest challenges encountered in the U.S. has been the impracticalities of remote due diligence, Private Equity International reported recently.

Simply put, general partners prefer to meet management teams, walk plants and see assets to perform "deep diligence."

Our firm holds the same priorities when it comes to identifying the right people. We also understand that we are all living in extraordinary circumstances, each of us individually with our own set of risk factors that weigh into the decisions we make.

We take this survey as a sign of encouragement that there is confidence in the safety of purposeful travel and willingness to do so under business conditions that warrant it.

As vaccines become available and the risks of the pandemic are better contained, we expect that we'll see a return of dealmaking and finalization of deals that have moved slowly over the course of 2020.

For now, the solace is that many executives are prepared to accept the risks of travel when it comes to important business, and that they are willing to do so as safely as they can manage.

Photo credit: Sourav Mishra/Pexels.com

That's why we're honored to announced that Michael Kelly Associates has again been included in Hunt Scanlon's prestigious "Financial Fifty" list which recognizes excellence among search firms.

"The financial services industry plays a pivotal role in the constantly fluctuating world economy," Hunt Scanlon says of the ranking. "It is, therefore, critical to place the best talent into leadership positions that will ultimately steer our financial system in the right direction. Hunt Scanlon’s team of editors and analysts selected these 50 firms who we deemed the most prominent in the financial sector."

With over five decades of experience in executive search, our firm has always been committed to effectively delivering results.

As a boutique firm, we bring custom expertise to executive search and corporate governance consulting.

Our success is predicated upon using a targeted search strategy tailor-made for the specific needs of our clients. By using several key variables to identify the strengths of candidates, we execute each search with precision and research-based judgment.

We believe that one of our greatest assets is that we offer clients a small firm advantage. It means that we can be timely, flexible, hands-on and individualized in our approach.

We have a proven track record of delivering top senior level talent to private equity and venture capital firms, major financial institutions and healthcare corporations. Some of our clients include Wells Fargo, Tenet Health, TD Bank and Recovery Centers of America.

With offices in New York City, Red Bank (N.J.) and Tampa, we also have access to key markets supplied with proven talent for our clients.

Landing on Hunt Scanlon's "Financial 50" is a testament to our longevity, prominence and superior services. We're both humbled and motivated to continue our successful run of reliability in the executive search world. It's a reminder that we are your trusted partner to elevate your talent and ensure that you have the personnel to thrive. 

CEO turnover in U.S. hospitals has been at an elevated level for several years running. The average tenure of a CEO is about five years, making it essential for hospitals to recognize the importance of succession planning.

Let’s look at the data on hospital CEO turnover to underscore the factors it influences throughout the executive ecosystem.

In its latest annual report, the American College of Healthcare Executives (ACHE) found that the turnover rate for hospital CEOs stood at 17% in 2019.

That was down just 1% from a steady rate of 18% over the previous five years.

In fact, the turnover rate has been 17% or higher since 2012, the longest period sustained at this high level since ACHE began conducting its survey in 1981. Their rates are calculated based on information reported to the American Hospital Association, in combination with public sources.

At Michael Kelly Associates, our decades of experience in succession planning and executive search ensures your organization is prepared. Our Small Firm Advantage provides you with the attention and responsiveness to details.

Simply put, our adaptability is perfectly suited to the high-turnover environment at hospitals. We complete executive searches at a faster rate than large firms do because we know how to make your transition our priority.

“Organizations are evolving to meet a changing healthcare environment, resulting in restructuring and the movement of CEOs to different positions within health systems," said Deborah J. Bowen, president and CEO of ACHE. "In addition, more CEOs are reaching retirement age. Our turnover data underline the importance of organizations maintaining a focus on succession planning and developing our new healthcare leaders.”

Past research from ACHE has demonstrated the far-reaching organizational impact of CEO turnover at U.S. Hospitals. Their landmark 2005 study was based on a survey completed by more than 800 CEOs in the for-profit, not-for-profit and government hospital sectors across the country. At the time in 2005, the CEO turnover rate stood at about 14%.

One of the key takeaways from the ACHE survey is that executive change frequently has positive, beneficial outcomes for hospitals. But there are important areas that suffer.

More than 60% of current CEOs reported that financial performance improved after the departure of their predecessors. Employee morale (71%), medical staff relations (71%), board relations (69%), community relations (63%), and hospital culture (73%) also were seen as improving with the change of CEOs.

Conversely, about 30% of CEOs reported that strategic planning at their hospital was halted or postponed as a result of their departure. Another 29% reported a halt or delay in development of new services. About 35% said nearby competitors increased their marketing to take advantage of a perceived window to capture business.

Furthermore, CEO replacement also tends to come with broader executive change, according the ACHE survey.

Within one year of a CEO's departure, the hospital's chief medical officer changed 77% of the time and the chief operating officer changed 52% of the time. The vice president changed 97% of the time and the chief financial officer changed 42% of the time.

Notably, about 75% of hospitals found a replacement for a departing CEO within six months.

If you drill into the data on hospital CEOs specifically, you find that about 51% of those in their current positions previously had been hospital CEOs at other institutions.

Among those who were not prior CEOs, about 57% were promoted to CEO from within the hospital, while 32% were executives at other hospitals. The rest were either CEOs at non-hospitals or held other positions.

About 55% of CEOs surveyed said their departures were decided entirely by themselves. Only about 16% said their departure was chosen entirely by others. It's a somewhat subjective question, but it suggests that hospitals are often the ones playing catch-up and reacting.

If 2020 has shown us anything, it's that the business landscape of hospitals and the health demands placed on them can be dramatically altered under very sudden circumstances. While it is too soon to predict the impact the coronavirus pandemic will have on executive leadership at hospitals, there's reason to believe it may result in significant shake-ups and opportunities over the next few years and beyond.

There is no better time than now for a hospital to seriously evaluate its current position and recognize the need for a close look at their executive team.

Our Small Firm Advantage is second to none in this department. We take a meticulous approach to our clients' needs and will anticipate the kinds of challenges that tend to come with the territory of change. Our searches are tailored to identify candidates who recognize what the data suggests and understand how to avoid the vulnerabilities that arise with organizational change.

What the ACHE's research indicates is the need for hospitals to make succession planning a critical facet of their strategic planning. We can help you review and benchmark the internal and external candidates, ensuring that leadership transition follows a timely and thorough process.

CEO change is inherent to the hospital landscape. It's often the shot in the arm that uplifts and propels them forward, rejuvenating the organization and giving it renewed focus on areas of need. We're here to make sure it never becomes a roadblock or a distraction. We're here to keep you ahead of schedule.

Photo by Huseyn Kamaladdin from Pexels

Mike was a golfer on the PGA Tour in the early 1980s before transitioning into the club business. That shift, in his early thirties in 1986, enabled Mike to blend his deep knowledge of golf with his knack for membership ideal that thrives on authentic camaraderie.

With about 825 members, Secession Golf Club is a premier, old-fashioned, invite-only club with a mandatory walking policy on the Lowcountry-style course that features breathtaking views of the tidal marshes of South Carolina.

I asked Mike about how his experience creating the culture at Secession Golf Club offers valuable lessons in the broader business world.

Question 1: You’ve said before that the secret to success at Secession Golf Club is its understated elegance and simplicity. This seems to gratify your members because the club delivers on the promise of its experience. When companies search for an identity, how important is it to know what type of talent and mindset you’re trying to attract?

Mike Harmon: With regards to the “type of talent and mindset you’re trying to attract” and its role in the success of any business venture, it’s absolutely paramount that a company knows what it “is” and who best qualifies to do business with you. It is, perhaps, more important than the product itself!

At Secession Golf Club, we set out from day one to identify a person with a high golf IQ – one who understood the game of golf and its many traditions. We wanted someone who understood and appreciated the simplicity of the old great clubs of the U.K. and U.S.; not someone that needed all the fluff and puff that many American clubs offer today.

We were about golf in its purest form, walking only with caddies, a beautiful setting untouched by real estate, understated amenities and, most importantly, a membership that was affordable for all ranges of golfers who wanted such a unique experience.

In the world of golf, most great clubs are financially out of reach for the average player, and inevitably, take on an ambiance of refinery, service beyond measure and, in the end, feel a bit stuffy. We set out to keep Secession affordable and simple, yet unparalleled in its presence and comfort.

The Bruce Devlin course is easily in the top 200 of U.S. rankings. The conditions of the course are always exquisite and our accommodations, while perfectly simple, are not the offerings of the “Ritz” or its counterparts – because it doesn’t have to be. They are classically understated, comfortable and perfect for the simple environment we sell.

Our food selections are contained on a one-page menu – most of which have been there for decades. It features local specialties our members and guests return for each and every season. As I’ve said many times, the member knows what he is going to eat here for three days prior to arriving at the Club. All very simple, and I might add profitable!

Each of these components are sold to the potential member as part of the uniqueness of Secession, and since all are invited by other Members, they are well aware of our structure and most likely, have had the opportunity to visit a few times. They either like that or not. And for those that don’t, I politely say to them that this really isn’t for you and suggest other clubs in the area that might appeal to their particular needs.

I remember talking to a gentleman from Augusta, GA, who knew several Members. Augusta is a great golf town, and after discussing the Club, the costs and such, he said to me, “there is no way you can be that special on those numbers!” At the moment I knew he was not what we were looking for and politely ended the conversation.

My two original general partners, Tim Moss and Bob Walton, once told me, “if you sense that the guy isn’t right, he more than likely won’t be and will become a real headache if he does, in fact, join. Follow your instincts!”

$60-70 million in membership sales backed that theory up. We have held to our earliest structure and convictions, remaining steadfast to our ideals in a world that is all about compromise. That is why it worked: comfort, simplicity and affordability.

Question 2: Mentoring played a crucial role in your entry into the club business. When you retired from pro golf, you were briefly an outside cart attendant at Palmetto Dunes before making the leap into business, with help from your mentors. What role have mentorship and service played in sustaining and growing the reputation of Secession Golf Club?

Mike Harmon: Mentorship has served me immensely my entire life! The best mentor I ever had was also my best friend – my Dad. He guided me in so many ways, not with a heavy hand, but with a kind and gentle approach that kept us close until the day he passed away. He never imposed, but brought the consequences of my decisions into view, something devoid in a large part of society today.

When I was struggling to decide whether to play college baseball or golf, he said “you can play baseball, if you’re lucky, till you’re about 30, you can play competitive golf for the rest of your life!” I made that decision in 10 seconds, and what a life it has brought me!

I think a good mentor lays out all the facts from his sage position, then never intrudes into the conversation or decision after that: it must be individual who decides, for they are his consequences, his life.

Also helping in my development through life were several wonderful friends, surrogate dads if you will: Jim Gunter, my golf instructor; Charlie Drawdy, a dear friend and early founding member at the club; and my PGA mentor, Tim Moss, who hired me out of Palmetto Dunes (ultimately became one of the Original General Partners at Secession GC) and who a year or so later, hired me to handle the Golf Operations and Membership Sales at SGC; and of course, the late and great Ernie Ransome, Chairman of Pine Valley whose direction and input into this fledgling club gave it all the momentum it needed to get where it sits today. He taught me so much about the “runnings” of a national golf club!

Because of this great help and advice received in my early professional career, I made it my goal to do the same with the young men and women under my leadership from then on. I have expressed to my employees, in countless “learning moments,” little details about our business – not only operationally, but personally and politically, and how best to navigate the treacherous waters that pervade our business.

Golf is a magnificent game, perhaps the finest of all sports, but it is not a very good business. Only a select few succeed and an even smaller number reach greatness. As Director of Golf at Secession Golf Club, we had almost 20 assistants go on to wonderful head professional jobs throughout the country, and their performances delight me and make me very proud. We stay in contact regularly and I still get asked for advice, just as I ask them for advice!  

In the same vein, my door and phone have always been open to help other PGA professionals, golf course superintendents and caddies. It has been an honor to have this platform and I wear a gorgeous ring symbolic of the National PGA Award for Mentoring, the Bill Strausbaugh Award, given each year to honor those who have taken the lead in mentoring young professionals.

What an honor it was! We have also had a junior outreach throughout the community of Beaufort S.C., the hometown of Secession Golf Club. It’s a program I started 20 years ago for local kids who showed extraordinary talent to play our game. This program, called the “Academy Program,” has resulted in the advancement of many young kids and their games, not to mention two South Carolina State Junior Champions, one of which has moved onto the PGA Tour and remains there today. This outreach is simply a way for our club to give something back to our community and it has been a real blessing for so many kids, as has our LeVeen-Roach 9-11 Scholarship Fund, set up in the two names after they perished on that fateful day in NYC. Most of the “Academy” kids participate in this program once they have matriculated to college, another great feature to being selected to the Academy Program.

So, I simply say, if you are in charge of people, you owe them honor, integrity, honesty, consideration, respect and mentorship, period! Without it, you are not a leader, regardless of what you might think.

Michael Kelly: Part of what has made your club such a gem in the golf world is the long view you have taken in “protecting what has worked very well,” you’ve said in the past. With so much pressure to innovate and evolve in the business world, what advice do you have for executives to stay true to the question of culture that ensures their longevity?

Mike Harmon: I have spent 33 years selling – not Secession, not the golf course, not the famed back porch, nor the beauty of the Low Country or the wonderful little town of Beaufort S.C., but where this magnificent club could be in 75 to 100 years.  

It is a purely historical perspective. The game of golf is a very old game, with golfing exploits chronicled as far back as Danish sailors in the 1400s and Mary, Queen of Scotland, in the mid 1500s. Most clubs in the U.K. have been in association for well over 100 years (many 200) and I recently went to Dornoch Golf Club in the Highlands of Scotland to celebrate their 400th anniversary! Extraordinary!

So, while Secession Golf Club has certainly made its mark on the golfing world in three short decades (both in the U.S. and Internationally), we are far too young to “crow” about how special we are. I made sure that everyone who joined our wonderful place knew that the real goal was still 40-50 years distant, a day when, if the ideals of the club were protected by the decades of leaders to follow us, then their sons and daughters would see the true accomplishments of the dream our original founders envisioned. That goal was simple, that this club would be mentioned in the same breath as all the other great national/international clubs in the U.S., which are some of the finest clubs in the world.

That was the goal from day one and it remains the same goal today; to lead this club to its full maturity within the golf community, knowing full well that will take 75-100 years to accomplish! That one simple – well not so simple – baseline was the key to our success and we stuck to it.

We were not looking to make millions, we were not looking to be just successful – we were looking to be historic and that is very much alive today! As of July 2020, I have retired after more than three decades to enjoy a much quieter and peaceable life, but in departing, I leave the club on solid footing to ultimately reach that goal, but I won’t see it. None of the early founders or the original general partners will see it. We knew that right from the start, and most of the membership today will not see it, for it still sits 50-60 years away. But it’s within reach; the club is that special.

But as just mentioned, the club must be protected, it must retain the qualities that made it work for three decades, and in our world of luxury, we often take successes and turn them into failures, all in the name of elevating the experience.

Here is where Mr. Ransome, mentioned earlier, became so valuable. I will never, ever forget the day he told me, “Pro, the finest word in the English lexicon is also one of the shortest, NO!” Within the fabric of the word “no” is found structure, boundaries, limits, restraint, and without it, even great businesses will fail, as they become overextended in an effort to grow or elevate.

A true leader has to learn to say “no,” and we have done that well at Secession Golf Club. I just pray for the future generations of members that future leaders understand that word as well. Say “no” to valet service, “no” to stewards that help you with luggage, “no” to sushi and food stations on the course, “no” to 15,000 bottle wine cellars and all the other “unmentionable” items that complicate and undermine the success of a simple golf club.

That is what every leader here has done in over three decades of guidance and I truly believe it will continue for decades to come as the precedent has been set. Historic and the word “no”; a wonderful bedrock to lead any business.

Michael Kelly: Members at Secession Golf Club have included everyone from NFL owners to plumbers. What seems to unite them in their love for the club is its emphasis on standalone quality, an experience that needs no comparison. What is the sweet spot for uniting people of different backgrounds and socioeconomic statuses? What lessons can companies learn from the oasis of the golf club about how to connect human beings on such an elemental level?

Mike Harmon: Certainly, the time-honored traditions and camaraderie carry the day for us, but I have always believed that the sweet spot is the relatively low cost of Secession Golf Club.

It is attainable for everyone that is making a decent living and whom wants the wonderful, traditional offerings this club honors. The plumber, to use your example, can afford it, the billionaire writes the check because he simply wants to be here. He loves the vibe, the ethos. And soon the plumber meets an NFL team owner at the bar following a round, they mingle and chat, and those chats never have to do with “what you do.” Only “where are you from,” “how did you play today,” “how long have you been a member,” and “come outside and meet my guys.” 

I personally could care less whether you got to Beaufort via your private jet, car or donkey – it all equals out once you get inside the gates, and that is not the case when you pay hundreds of thousands of dollars to join a club. That’s something else… I can guarantee that that’s something other than the simplicity of the game of golf.

The billionaire gets no benefit from writing a check to join Secession Golf Club – he simply wants to be there. And the guy that owns a small landscaping company, a deli or the plumber is infatuated with being a member of a national club like this. They blend perfectly.

I always took a great deal of satisfaction in NOT knowing what most of this membership did for a living, and, amazingly, it never came up! They were here to have a good time and everyone at the club made sure they had a good time. Period. No fluff, no puff, just golf at its best and all the simple pleasures that come with playing and staying here. This is a retreat, a place for most of these guys to get away from the world and hide for a bit. That’s all it was ever supposed to be – just like Pine Valley, Augusta and Cypress were supposed to be 100 years ago, and what they are even today, havens and sanctuaries. And by the way, they’re also feature some of the finest golf courses in the entire world!

As for a company finding this same niche, I would say take great care of your people, pay them well, treat them well, and LISTEN to them, it will come back to you in spades.

Obviously, whatever you are selling has to work in the ideas of the marketplace, but your employees are the key to it all. They are the frontline people – your frontline people – and if you isolate them, treat them coldly, then that same chill will resonate to your customers.

The vibe here is very reminiscent of Prestwick Golf Club in Scotland, where the Members of Parliament and roofers play and dine together united by one love, golf! In the work place, you must make their work a passionate part of their life; otherwise, you have people just punching a clock. The famed retailer Jack Mitchell wrote two of the finest books on sales I’ve ever read: “Hug Your Customer” and “Hug your People,”

It’s all about relationships and doing the little things right. That’s what makes great companies, men’s stores and golf clubs!

Michael Kelly: It’s a testament to your grace in the golf world that you’ve earned the moniker “Old Pro” among the members of your club. As an individual who carries the responsibility of fostering that positive culture and ensuring the fulfillment of your members, what advice do you have for business leaders who need to be “the guy” who sets the tone? Any examples of how you’ve made that mantle a point of pride? 

Mike Harmon: Oh, so many points of pride. How about a thousand close friends worldwide! Can a man be any richer? I simply tried to serve this membership as best I could. I always had a hug, a smile and a cold beer with them at some point of their trip. I knew their families and probably spent a good bit of time with their kids. It was a family, a family built around the game of golf.

At the highest levels, the game of golf is a small world. Many of the same people move in the same places and as a fledgling club, Secession has stepped into that pantheon of great clubs over the last 35 years. It is not only a joy, but quite an honor for a young club.

I had a small part in that, fighting for it every day. And believe me, this was no pleasure cruise! I remember cleaning toilets in the office because we couldn’t afford to have someone come in and clean. True story! The place was padlocked in 1993 and about 6-8 of us stayed on in belief that it would work out. It did.

The devastation of 9-11 rocked our small club with over 125 resignations within 8-10 months. 08’-09’, wars, hurricanes. We’ve seen it all, but so have all the great clubs of the world. Augusta had to herd cattle on the course during WWII to get by. How are they doing? Mr. Jones, my idol, should be very proud! You just go in and fight every day. That’s why you have to have a team. To know that someone else is shouldering the load is huge. But I, nor any of the 800 members ever let go of the dream. We never lost faith in where we could be – both now and at 100 years old. And today, she’s an absolute beauty! To your leaders, do your best to create a “family” within the workplace. I just don’t see how that doesn’t bode well for the future!

Lastly leaders, protect your honor and your integrity; it can disappear in a heartbeat. It’s everything! I’ve tried my very best to walk in honor and integrity, doing it right! It’s not easy – in fact, it’s hard, and at times very lonely – but never lose that honor.

Hundreds, perhaps thousands look to you for a ray of light, a point of honor, and as the leader that mantle is a mainstay in the success of your business. Don’t give it away. It’s invaluable. My personal faith has always been the foundation of my life. It’s my guide and my rock, and with that at the center, I have been able to weather not only the storms at work, but multiple battles on the home front. I once heard a pastor say “Honor is the gift a man gives himself!”  

Michael, what an honor it has been to share these stories with you. We’ve enjoyed many great times together and I look forward to many more down the road.

Main Photo Credit: David Lavery for Sucession Golf Club

The United States is now four months into the coronavirus crisis, a public health disaster and an economic threat unlike anything this country has faced in recent memory.

From the standpoint of executive search and leadership assessment, the current state of affairs is precarious. The health risks of COVID-19 and the rigors of following safe practices in business have made all of us re-evaluate our priorities in 2020.

Work in the United States is undergoing profound change as many companies adapt on the fly to a telecommuting model. This has impacts both on day-to-day processes and on the function of management.

The uncomfortable question boards and executives must start to consider is whether their leadership will remain invested as the pandemic continues.

Many successful CEOs, CFOs and directors of human resources have above average tenure. They've accomplished many of their professional and financial goals. They're used to doing things a certain way. They have autonomy, security and options in life, even as many aging Americans see their retirement plans fall by the wayside.

What if these leaders decide they want to pull their chips off the table?

In recent months, my firm has been asked to do “bench” searches by CEOs concerned that one (or more) of their direct reports could retire since they’d already created significant wealth over the course of their career.

These concerns are legitimate – especially in the midst of a pandemic. With business operations in flux and many industries facing severe strain, companies must be prepared for the possibility that their top talent may decide to retire earlier than anticipated.

From the hassles of frequent travel to the social anxieties of doing business in a COVID-19 world, the months ahead may see a wave of retirements from people in positions of leadership.

A typical executive search takes about three months to complete. Now is not the time to be caught flat-footed without a plan in the event that a key leader makes a personal decision to sit out the pandemic for the good of their long-term health.

A few months ago, a publicly traded healthcare company’s CEO came to me with concerns about potential turnover since the management team was extremely wealthy. We moved forward and conducted research on five different positions, updating the data ever six months over a two-year period. The CEO thought the insurance policy was worth it.

Building a folder of qualified candidates to pursue if sudden changes emerge is one of the most important insurance policies a company can take out in 2020. Jumpstarting the executive search process is among the best ways to avoid compounding disruption at time when it's a fixture of business in the United States.

As the realities of work evolve and projections become murky, it is more important than ever to ensure continuity of strong leadership.

Senior business leaders are in a challenging position that may require them to take stock of their lives and their families moving forward. While the choice to step away may be personal, the void left behind can be felt profoundly.

If companies learn to expect that these departures may be part of the executive landscape, they will be better positioned to keep things running smoothly and stay ahead of the competition.

Photo Credit: Matheus Natan/Pexels.com

Most states have now lifted the heaviest restrictions on business activity, creating conditions for a return to offices as long as rigorous public health guidelines are followed.

But is it really a good idea to maintain a work environment that may be uncomfortable? Are the numerous safety requirements, from face masks to barriers and temperature screenings, truly preferable to normalizing productivity in a work-from-home culture?

Businesses must start assessing whether they have the right management in place to ensure prosperity under these new circumstances, which once seemed unthinkable.

Traditional views about the workplace have begun to wane after nearly three months of shutdowns and social distancing. As The New York Times reported in May, the greatest proponents of the work-from-home movement have been white-collar companies, including tech giants such as Google, Amazon and Facebook.

What began as a pragmatic response to a health crisis is beginning to look more like an evolution of the office, with many untold benefits yet to be discovered.

It takes a certain kind of leadership to be able to manage trust and inspire focused buy-in from all employees when the traditional office dissolves. If half of the company is remote and the other half is in the office, managers must navigate the expectations and progress of both groups. They must be able to handle the ways in which this changes workflows and communications.

Do executives in corporate America possess the temperament and management style needed to thrive in these mixed work settings? Can the structure of the board withstand such a decentralized workplace, one that demands different organizational habits?

There are signs that some executives are willing to bet on it, but they must be sure they have teams of people who are prepared for the challenge.

A Gartner research survey released in April found that 74% of CFOs planned to shift at least 5% of previously on-site employees to permanent work-from-home arrangements.

“CFOs, already under pressure to tightly manage costs, clearly sense an opportunity to realize the cost benefits of a remote workforce. In fact, nearly a quarter of respondents said they will move at least 20% of their on-site employees to permanent remote positions," Gartner Finance expert Alexander Bant said.

The appetite of workers shows a similar lean toward continuing to work from home, according to a pair of surveys from Hanley Wood and Gallup.

Both surveys found that about 60% of American workers would prefer to continue their jobs remotely as much as possible, even after business restrictions are lifted.

What does all of this mean for executive leaders and boardrooms? Savings, for one, and flexibility in hiring.

Take a look at venture capital, where a recent report from Margins noted that 40% of all venture capital funding in Silicon Valley goes to landlords instead of product development.

Companies may now have the option to not only reduce their investment in physical real estate, but also expand the geography of their search for dedicated talent.

The same Hanley Wood survey found that between 36-55% of workers would be willing to move to a less expensive market if they could permanently work from home. The more expensive the market in which they lived, the more willing respondents said they would be to move elsewhere while keeping their high-paying jobs, according to Forbes.

As the economy starts to rebound from the COVID-19 crisis, returning to the office may prove to be too onerous for many companies and their employees, especially with intrusive regulations on business operations.

“It takes three months to form a habit,” Mollie Carmichael, a principal at the real estate research firm Meyers Research, told Forbes. “We have been in COVID for three months, and because of this three-month period, we have gained trust and routine for working at home. We are going to see businesses letting more employees work remote.”

At the executive level, now is the time to assess the productivity and culture of work-from-home operations. This assessment should focus both on the C-suite and among the broader company workforce.

If there is evidence that efficiency and quality of life improve, and if essential communications remain uninterrupted, the crisis of 2020 may remembered as a turning point for top-level companies.

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