Trends and challenges in recruitment
The Covid pandemic has served as a catalyst and an accelerator for change in the hiring of C-level talent and executives. In a recent article for Forbes, Jackson Weimer – via conversations with over 25 executive search firms – explores recent trends and challenges in recruitment of tech executives.
Why it matters for C-suite
Many testify that traditional education and other talent routes may be insufficient for creating a pipeline for tech executives. The increasing digitalisation of companies, with employees driven to hybrid and remote working styles, has led to unprecedented growth but the demand for executive talent is too much for the supply to replenish.
It is an issue across the board but rising demand is particularly pertinent for CTO and CFO positions.
Many of the executives that Weimer interviews are aware that motivations have changed over the last several years. Of course financial compensation is always a priority but beyond that, a growing trend of workers is a desire to find greater purpose in their roles. People are also more interested than ever in developing skills and finding passion in their work. This is no different for C-level executives.
As such, candidates now hold the winning hand. More than ever, potential employees can afford to be selective of potential employers, knowing their value and their ability to job search regardless of location.
There are positives to this shift for companies that are adaptable enough to take the opportunity. The executives that Forbes spoke to report that Zoom interviews have drastically shortened aspects of the recruitment process while also allowing companies to broaden their horizons. There is greater potential reach than ever before in the talent that companies can identify and acquire. Increasingly lengthy recruitment processes is an issue that predates the pandemic but societal shifts to remote working could offer another solution to tackle it.
The amazing speed at which businesses grow today, particularly in the digital space, creates more opportunities to recruit top talents. However, the pool of top talent isn’t increasing as quickly as the market itself. This will become more and more of an issue in the coming years,
It is clearly the moment for hiring managers and leaders and Chief People Officers to use their imagination to solve this new set of challenges and consider very carefully what it is that C-level talent is looking for.