Key Trends That Are Driving Executive Search Today

The digital transformation has impacted each and every sector and industry; hiring is no different. Across the industries, the companies are struggling for retention of the employees and shortage of skilled and experienced workforce. If we go higher up the ladder, even the top executive search firms in Shanghai find the task of searching executives quite daunting. 

As per study notes, nearly 40% of the top executives quit the new jobs within a span of just 18 months of taking the new role over issues related to non performance. The reason for such abysmal failure was explained by a study which mentioned that as much as 80% of the time the companies fail to hire the right candidate at the right place. It thus becomes imperative to find and place the right individual at the right place. This is where the role of the top executive search firms in Asia starts.

A senior executive is a mix of correct market knowledge, emotional intelligence, technical skills and people skills. All these skills in combination help in building a strong leader.

Here are some of the key trends which are prevailing in the industry of executive search:

 

·         Demand For The Skill Sets

There has been a significant rise of 25% in the hirings done by top executive search firms in Beijing. The skill set of the executives includes artificial intelligence, machine learning, data science, cloud computing and virtual reality. All these advancements bring with them the path of the steady growth. However, firms will focus on the inside talent, but the recruitment firms emphasize on openness to higher the senior professionals who brings with them a fresh perspective and a diverse skill set.

 

·         Replacement Hiring

Average performers and non starters are no longer favoured by our economy, particularly at higher levels. As a result the average performance leads to replacement hiring.

 

·         HR As  Business

Just the way the business is required to be more agile, resilient and adaptive, the employee is required to be in a position to reflect these values. This way the HR function transforms considerably and requires an understanding about the needs of the business in terms of hiring of a new candidate at a particular job position.

 

Both client organisation and executive search firm is required to work in collaboration and hire a candidate who can easily work in conformity to the business role. In the coming years, the digital footprints will take over the physical impact of each and every recruitment function.