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The increased demand for Executive Search in the Global Technology Market

03/09/18 Claire Bainton Search Partner

The search for executive talent is a unique part of the human resources world. Recruiting for C-suite positions is very different to looking for front-line professionals and success requires a particular kind of talent and plenty of real-world experience.

According to Ibis World UK’s trends report, the Executive Search Recruitment industry is in the mature stage of its life cycle. The value that the industry adds to the economy is expected to grow at a faster rate than the rate of GDP over the next 10 years, with GDP growth at 1.7% for the same period.

The industry is well established and, despite a degree of diversification in recent years, its core service offering has remained largely unchanged for many years.

With the global technology market growing at lightning speed, replacing industrialisation as the world’s driving force of productivity and as technological changes continue, there are many factors affecting the executive search industry in this sector.

We spoke with Claire Bainton, one of Redline Executive’s Search Partners,  about the unique challenges facing the executive search sector and how Redline Executive have adapted their executive search processes.

“Ground-breaking advances in the digital era are impacting all types of commerce and customer/supplier engagement” says Claire.  “Data is becoming a competitive weapon for enterprises and companies are just beginning to harness the power of analytics and machine learning. These fundamental shifts are putting technology companies squarely at the forefront of the new economy. To compete and thrive, the expertise and efficiency of an organisation must advance ahead of the rate of change that the organisation desires. Executive talent is the differentiator as technology and engineering firms seek the best executive talent to lead their businesses into this fast-developing landscape.

At Redline Executive we help our clients address the challenges of the global technology market. We help businesses strategically design their organisations with the right structure and the most effective leadership teams to seize opportunities presented by new advances in technology and date delivery.

In many ways, linear growth is replacing exponential growth. This has major implications for every organisation as it creates the need for leaders capable of navigating an entirely different universe – one in which globalisation occurs at an unprecedented pace and shifting direction. The ability to adapt to change and lead in uncertain environments have become increasingly sought-after competencies.

As Executive Search Recruiters, it is becoming more important than ever to find executive leaders and senior management with global competencies via our extensive networks. To find the best-suited candidates with the right capabilities, the search process must be conducted on an increasingly international scale. This increases the candidate pool, but it also increases the complexity of the assessment process.

Trends in 2018 and beyond

Increased reliance on artificial intelligence and machine learning

 AI is getting better at identifying the top candidates, so expect more executive recruitment firms to utilise machine learning algorithms as another layer of search going forward.

The use of deep analytics and big data

The use of big data has been growing in recent years, and that trend is likely to consider into 2019 and beyond. Data mining and the use of deep analytics will increasingly make the difference in executive recruitment, and its use will become a real competitive advantage.

A growing trend toward consultants and freelancers

The gig economy is alive and well, even in the executive suite. Expect to see more consultants and free agents in the top jobs, as they are likely to become an increasing focus of executive recruitment firms.

Commitment to employee development

Expect more businesses to look within for the executive talent they need. A commitment to employee development will be used to reduce recruiting costs and drive results.

A focus on younger talent

The executive workforce is aging fast, creating real challenges for big business. Expect executive recruiters to increasingly focus on the development of young talent, i.e., men and women who can look forward to decades of the growth in the business they lead.

The search for the passive job seeker

Not everyone is actively looking for a change, but that does not mean they are not open to new opportunities. Expect an increasing focus on passive job seekers through social media and other outlets.

Companies using their brands

Branding is important, not only to sell products but to attract the best executive candidates. Executive recruitment firms will increasingly use branding to find the best C-suite talent as they move into 2019 and beyond.

“Change occurs faster today than ever before. As experienced executive search professionals, we have adapted with the markets. We continue to help executive candidates make a career step forward and companies to find the very talent they need to achieve their goals and make economies grow. The future looks bright – at least, when we do the right things and when we do them right.” 

To find out more about Redline’s 9-stage Executive Search Process, please click here.

Redline Executive offer an extensive portfolio of executive search services and provide thorough insight and support to your strategic recruitment planning. To have a confidential discussion, please call Claire Bainton, Search Partner on +44 (0)203 131 0019 or email CBainton@RedlineExecutive.com