Tips for Executive Recruiting by Anderson WillingerAnderson Willinger
What are the main point you should be aware of according to Anderson Willinger, executive search experts?
- What is the current market situation?
From January to the end of April, there were 209 changes in senior management positions compared to last year, when the number of changes was 269. While the number of senior managers taking up the new role in January was still comparable to last year, recruitment during February to April was already half as low, which explains the overall decline. Compared to last year, companies promote internal managers more and hire less externally (48% in 2020 vs. 39% in 2019). When companies hire external managers, they no longer just look at their direct competition, but look for the best across the market in a variety of industries. The number of senior managers transferring to another field is 4% higher than last year.
- Are recruitment continuing or is the market stagnating?
In large global corporations, recruitment for most positions was suspended overnight until the end of May to June. For companies that are dramatically affected by coronavirus (such as Airlines, ORECA and others), recruitment was completely suspended until July and August. For large international but locally managed companies, especially in the area of services, the recruitment of senior positions has continued and continues. We also see the same trend in privately owned companies. They also continue to recruit.
- How will the individual sectors react to the recruitment of senior management in the coming months?
The companies that can benefit from the current situation will be companies in the field of Services, Health, Digitization, Distribution, and related suppliers. Particularly: local service providers, retail, distribution of goods, healthcare, medical supplies, manufacture, sales, distribution of drugs and pharmacy equipment, ICT, advanced technologies. These companies can consider recruiting for new types of positions or projects within 3-6 months, especially in the field of digitization, development of sales and distribution networks, new markets. Companies operating in sectors deeply affected by the crisis (e.g. the oil or aerospace industries) will be more efficient, finding new solutions, new services and products. Their current topic is “business continuity”. In the period of 6-8 months, they need to make both cost reductions / financial expertise / and streamlining / technological and process solutions /, as well as the benefits of new distribution channels, new client-sources of income.
- Which requirements will be placed more demanding when choosing management?
When recruiting, companies will analyse much more of these 5 key skills and attributes: Analytical skills Problem identification, problem analysis and solution definition. Ability to implement a timely solution, even if the information is not complete or difficult to predict Interpersonal skills Having influence within the organization and the market, the art of leading a team, convincing, and managing the achievement of results The emotional intelligence Stimulate yourself and the team in an emotionally tense and business-demanding period to effectively achieve goals without personal paralysis, demotivation, fear or anger, and above all the important ability to listen Flexibility The ability to prevent personal paralysis for fear of making a mistake Evaluate timely, not hasty or late action Quickly accept and process new information and apply it in practice Technical skills Particular expert knowledge Ability to organize and systematic Market knowledge and contact base Communication skills
- Will the form of working hours or roles change?
COVID-19 has found many loopholes in business, both procedural and human. This also stems from the possibility of using senior managers or directors to resolve the particular area or expand their responsibilities. The future will bring more flexibility to work on time-limited or part-time projects, and roles will be given greater responsibilities with greater demands on the ability to integrate new skills and knowledge very quickly. On the one hand, there will be de-globalization on the other hand, companies have learned to function more in the online environment, so the competition for many roles will not be purely local, but international.