Modern commercial problems can only be solved by talented executives who demand competitive salaries. It’s, thus, no wonder that finding the right executive talent for your organization is difficult, expensive, and time consuming in most cases. Thanks to these innovative trends in the executive search industry, however, that’s about to change.
Here are eight executive search industry trends to keep an eye on in 2021 and how they’ll make it easier for large organizations to find the right talent for the job.
A Constantly Growing Executive Search Industry
The executive search industry has been undergoing constant growth ever since Edwin G. Booze first opined in 1914 that “[o]ften the best solution to a management problem is the right person.” While businesses around the world understand the need for stellar executives who can oversee important projects, they simply struggle to lure in the right candidates.
Yet, advancements in digitization have actually made it more possible than ever before to conduct a broad search for executive talent without tipping your hand to the public about your hiring intentions. Job search trends and dedicated recruitment services have come together to create a vibrant executive search industry that can serve any sector.
8 Executive Search Industry Trends to Watch Out For
These eight job search trends could revolutionize the industry by the end of 2021:
Routine Organizational Audits
The best executive search firms conduct an organizational audit to understand a company’s needs before they start searching for talented executives. As 2021 wraps up, organizational audits could become the industry standard for search firms interested in producing serious results.
A Focus On Tech Skills
The global pandemic finally convinced many businesses that executive leaders need to be tech savvy in order for the organization to achieve success. According to Delloite, search firms will pay more attention to a candidate’s ability to conduct virtual fundraising or oversee digital operations going forward.
Delayed In-Person Meetings
Once upon a time, it was normal to have a face-to-face meeting with a candidate as the search progressed. These days, virtual meetings are likely to remain the norm for many across the marketplace.
As companies grow more comfortable with delaying the first in-person contact with their new executive, the nature of business could change in unpredictable ways.
Flexible Payment Options
Given the staggering growth of the executive search industry, it’s of little surprise that there are more firms out there than any before. This means enhanced competition, which will require some companies to provide flexible payment options to lure in organizations that require their services.
The current focus on growth is here to stay, and with this enhanced competition we might expect additional payment innovations to proliferate in the near-future.
An International Focus
Executive search firms trying to understand the latest job search trends must be able to recognize that there are ample opportunities in the international world of business. Why limit your clients to domestic businesses? As the executive search industry keeps growing, we can expect underdeveloped foreign markets to mature in this sector.
Social Media Mania
It’s no secret that social media mania has taken over most job search trends, and the executive search industry is no exception. According to one report, UPS hiring on Facebook and LinkedIn soared from a meagre 19 hires facilitated by social media in 2004 to 24,475 hires off these social media platforms in 2014.
As time goes on, expect more of the executive search to focus on social media and websites.
It’s A Job-Seeker’s Market
With a labor shortage impacting nearly every major industry, it’s simply a job seeker’s market right now. As recovery from the pandemic extends into 2022, expect candidates to have a leg up on the firms that are seeking their expertise due to an abundance of opportunities.
An Opportunity For Interim Roles
An additional consequence of a labor shortage is that companies likely have to depend upon interim roles. The executive search industry can’t be rushed, but certain positions must be filled immediately. Companies might find themselves pursuing the middle path by temporarily filling a position with an interim leader until the real search process is complete.
Quickly Find Your Next Executive Hire With Recruiterie
You can’t afford to let the best executive talent slip between your fingers and join the competition. With the help of the executive search professionals at Recruiterie, your organization can quickly master the latest job search trends and fill its vacant positions.
The industry-leading experts at Recruiterie conduct an exhaustive search process that only begins after the unique needs of your company are taken into consideration. You’ve worked hard to build your company. Let Recruiterie help you find the executive talent you need to take it to the next level.
Contact Recruiterie today to quickly find your next executive hire!