hiring: CXO hiring likely to touch a new record this year

hiring: CXO hiring likely to touch a new record this year

Companies across sectors are desperately seeking senior leaders and CXOs to steer digital transformation, drive growth and restructure businesses in a post-Covid world, setting the stage for a year that may outshine what has been a record-breaking FY22 for many, leading executive search firms have said.
“Everyone is hiring,” said Atul Vohra, managing partner at Transearch India. “Companies have realized that there is no dearth of financial capital and business opportunities. If they get the third leg of the stool, that is human capital, then nothing can stop them.”

He said the demand for senior executives is unprecedented. “Companies are going all out to lure them with Esops, equity participation, long-term incentives, etc,” Vohra said, adding that these executives can virtually pick and choose because demand is far outstripping supply.

Demand is coming in across sectors – led by digital and tech, but also buoyant across consumer, manufacturing, infrastructure, industrial, banking and financial services, automotive, clean energy, healthcare and lifesciences, among others, experts said.

“Many senior professionals are sitting on multiple offers,” said K Sudarshan,MD of EMA Partners India.
“This is driving the compensation north for both CEOs and CXOs. Companies are breaking internal barriers by overstretching their compensation frameworks to attract good talent.” EMA has seen a growth of 80% from pre-Covid levels and per consultant productivity has been the highest ever.

Search mandates are up across all sectors and the demand for digital talent that cuts across all domains remains robust. Monica Agrawal, India head, financial services and CEO, boards practice, at Korn Ferry, said the new standard for salary jumps has become almost 40% – even higher – in case of job changes now, compared to 20-30% earlier.

“There is a 100% jump in search mandates over last year,” she said. “Compared to pre-pandemic, it is 30-40% higher.”



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