Companies across sectors are looking for senior leaders and CXOs to drive digital transformation, drive growth and reorganize businesses in a post-Covid world, setting the stage for a one-year There has been a record-breaking FY22 for many, leading executive search firms have said.
Atul Vohra, Managing Partner, Transsearch India said, “Everybody is hiring. “Companies have realized that there is no dearth of financial capital and business opportunities. If they find the third stage of the stool, that is, human capital, nothing can stop them.”
He said the demand of senior officers is unprecedented. “Companies are doing everything possible to woo them with ESOPs, equity participation, long-term incentives etc.,” Vohra said. He said these officers can virtually pick and choose because demand far exceeds supply.
Experts said that demand is rising, led by digital and technology, but also in other sectors including consumer, manufacturing, infrastructure, industrial, banking and financial services, automotive, clean energy, healthcare and life sciences.
K Sudarshan, MD, EMA Partners India, said, “Many senior professionals are sitting on multiple proposals.”
“This is driving compensation up north for both CEOs and CXOs. Companies are breaking down internal barriers by increasing their compensation structures to attract good talent.” The EMA has seen an increase of 80% from pre-Covid levels and the productivity per advisor has been the highest ever.
Search mandates are up across sectors and demand for digital talent cutting across all domains remains strong. Monika Aggarwal, India Head, Financial Services and CEO, Board Practice, Korn Ferry, said the new norm for wage growth in terms of job changes has gone up to around 40% – even higher, from 20-30% earlier.
“There has been a 100% increase in search mandates compared to last year,” she said. “Compared to pre-pandemic, it is 30-40% higher.”
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