We are only a quarter-way through the year and already witnessing emerging trends in the Executive Search industry, in particular what they mean for our clients and candidates.
The dynamics of Executive Search constantly evolve as companies look further than ordinary CV-based recruitment. The rapidly changing global economic stage has led to swift evolution in the search industry, including leveraging new opportunities using social media and technology. Although some trends may hold true across all levels and forms of recruitment, Executive Search differentiates itself in many ways.
At Redline Executive, we acknowledge that candidates at C and D level are afforded the privilege of being handled preferentially – with an element of career counselling not often found in other levels of recruitment. Secondly, and perhaps obviously, it focuses on quality rather than quantity – it’s about being strategic and targeted rather than gathering a shortlist from a large pool of available or unemployed candidates.
There are some trends that we have witnessed through recent assignments:
Greater dependence on Technology and Smart data
At Redline Executive, many clients are heavily focusing on using big data and analytics to create more in-depth talent metrics for potential executive candidates. Operational metrics such as time-to-hire, cost-per-hire and source-of-hire remain relevant but more intelligent means of measuring ROI will be implemented by companies in the future. By using more detailed measures of potential success, companies can also establish the best training methods as well as motivational cues and competencies once the candidate is hired.
Increased consideration of Boomerangs
The higher one goes on the corporate ladder, the greater the impact of a poor hire. Some companies prefer the devil they know, especially if that individual has a deep understanding of culture, industry and organisational hurdles. A completely new face at top-level management comes with its own advantages but is often a huge risk if they are not a good fit. With the increasing popularity of networking events, company alumni are likely to reconnect and strike a deal to work together again. Virtual alumni events are already popular, with recruiters gathering information through ‘in-person events’ for re-establishing bonds and possible re-hires. And we all know the power of networking within our own peer group.
Candidates are brands
In the age of social media and an increasingly visible public profile, individuals are required to develop and maintain a personal brand. One is no longer assessed solely on how one appears on paper but reputation, presentation and previous successes play an important role in assessment. Individuals with universal skills will not only have a higher chance of fitting into the organisational culture, but will more likely be able to externally represent the company in a positive way, form strong connections with potential partners and in so doing, help move the company forward. Successful company brands lead to increased profits – the same applies for personal brands. In Executive Search it is crucial to ensure the experience of a candidate meets the role requirements, but the task of ensuring an appropriate culture fit is equally important.
As private lives become increasingly more public, personal brands will continue to grow in importance for executive appointments. It is easily traceable to find evidence which will contribute to a potential executive candidate’s brand identity.
Throughout Redline Executive’s 35 years’ experience, one key criteria in our selection as an executive search partner for clients is our research abilities & sector knowledge. Our success is built on a foundation of excellent research, a professional, mature headhunting approach and a strong technical understanding of the requirements of the roles we fill for clients.