1. half of 2020 in Executive Recruitment by Anderson WillingerAnderson Willinger
According to Anderson Willinger, executive search, research, although the recruitment of senior management roles was lower from January to May than last year, in June companies began to recruit again. The total number of changes for the first half of the year thus equalled those of last year. In June, managers who were originally scheduled to start during the corona period also took on new roles, but companies decided to postpone their onset and adaptation two to three months later, to June. The most active in the recruitment of senior managers were ICT services and Banking.
In the second quarter of 2020, about a third of companies suspended recruitment. In most companies, however, recruitment of key roles continued during the crisis.
The company’s lower management roles were filled by internal candidates, who were expected to be able to quickly learn new technical skills and adapt to the new role in the online environment.
Study of Anderson Willinger, executive search experts, showed following facts:
How recruitment expectations change
As many as 75% of managers say that personality characteristics, especially flexibility, speed, and the ability to learn new things, are more important to them when recruiting their team members than technical skills and expertise. Not only did companies change their expectations during the crisis. The move to “remote working” has meant that managers in middle and lower management, or even specialists outside IT, where this method was already common, are beginning to open up work for more companies or work on time-limited projects. They also want to work part-time and have more time for themselves and their interests.
CEOs are hired externally, Board members are promoted more
Compared to 2019 and 2018, companies are looking for more CEOs externally (49% in 2020 compared to 37% in 2018). CEOs are also much bolder in transfers to another industry (this year it was almost half of all transfers). They are attracted by new challenges, often also by the more dynamic environment of smaller companies or start-ups. However, the members of the Board of Directors increase more internally (this year, 74% of all members of the Board of Directors were promoted within the company or group).
Finding the right role is a long-term job
According to a survey by Anderson Willinger, executive search, up to 28% of senior executives surveyed have gained a new role this year thanks to their network and contacts. 26% have gained a new role through the Executive Search Company. This survey confirms not only the need to build long-term ties and relationships, which are one of the most proven tools for finding a new role, but also the importance of long-term cooperation between managers and executive search companies, which often work in positions unknown and confidential. It is the combination of targeted expansion of its network of contacts and long-term cooperation with Executive Search companies that seems to be the best way to get the desired role today.
From digital departments to digital companies
A personal change and knowledge in the world of digitization will also be a fundamental change in the requirements for senior managers. While companies hired managers and directors last year to digitize processes or products, this year their challenge is to make every employee and manager digital friendly. Thus, instead of the island of the digitization team, a digital thinking society as a whole will emerge.
As Aaron Levie, CEO of the cloud company BOX, said: “The last ten years have been about transforming the way we work. The next ten years will be about business transformation.”