Executive search industry - PowerPoint PPT Presentation

Hiring Trends And CXO Hiring

Today, most CXO level roles are filled through executive search firms or through references and much less through advertisements in print media. Most global executive search firms have a firm foothold in the Indian talent market. Now Executive Search is synonymous with finding top notch talent. Firms such as Egon Zhender and Kornferry International have made sure that a career in executive search is very strongly mainstream and no longer 'off-beat'. Another influencing catalyst has been that of the booming digital media, search engines, social and professional networks, powered by the internet. Job searches are atheists in terms of location as companies vie for the best fit for the position. Access to potential candidates has become easier but fitment remains the key parameter. Box files full of CVs are a bygone feature as electronic database and communication clears the way. Skype, Whatsapp and professional social media has some features of the 90s; such as staying up late to get hold of candidates on their landlines; a long extinct exercise. The seasoned Indian talent today is in no way in a beeline for multinationals only and many prefer working for Indian origin corporate houses. The structured and rigid career path has given way to a radically fired culture where longevity is no longer the sole sacred virtue. In short, 'Cradle to Grave' company careers are passé.

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Hiring Trends And CXO Hiring

The Indian market evolved as it liberalised in the 90s and multinationals marked their strong presence. Back then, retained executive search was still in its infancy in India; since then, senior level hiring has grown significantly and so has the executive search profession itself. The profession has become challenging in the fast paced multilevel expressway of hiring. The years since then to now have been marked with big changes and a retrospective enquiry confirms the fact. The face of both hiring in general and leadership hiring stands altered today. Those days (90s to millennium) most 'CXO' jobs were advertised in the media. Organisations selected available people as opposed to launching an extensive search for the right people. Also several accomplished candidates did respond / apply to job advertisements.

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Business Panorama And The Executive Search Trade

Get, Keep, Grow has been the chanting mantra of Human Resources philosophy. Getting good people as the ubiquitous first step hardly needs emphasizing. The Executive Search function has been to the quick rescue of the Hiring Manager in organizations. However as a specialised industry born as an offshoot of management consultancy, the Executive Search industry has had its own share of bouquets and brickbats. During times of cost-cutting and renewal firms have often turned to internal recruiting. Technology too has served as the abettor here, pushing talent pool closer to the firms. Thus, mandates often shrink and get limited to only critical leadership hiring. To begin with the task of an Executive Search executive is not an easy one. The search executive as to sift through huge piles of resumes, keeping in mind that the task they are entrusted with is to select the best talent rather than what is just available. Unemployed candidates often form a bulk of the response and it takes time to be assured of the capacity index. Still if we compare internal hiring with third party hiring, the extensive process adopted by Top executive search firms ensures that the best talent is sent for the firms’ perusal. Not only that the personality testing section of the hiring process ensures that personality-job fit is captured.

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