Highlights and Industry Shifts from the First Half of 2023
Top Five Trends and Observations from the 1st Half of 2023
As we are officially past the halfway mark of 2023, we would like to share the trends we have seen across the global executive recruitment landscape. In this edition, we will delve into the key takeaways from the first half of 2023.
Takeaway #1: three functional areas are very much in demand
- Supply Chain. As companies continue to regroup from the mayhem caused by the pandemic, we have seen continued demand for Supply Chain Executives, as companies make efforts to future-proof their logistics and distribution networks.
- Finance. Finance-related positions have experienced remarkable movement during the first half of 2023. As companies adjust their financial strategies to mitigate potential risks associated with the global economic outlook, the demand for executives who are equipped to adapt to changing market dynamics has skyrocketed.
- Sales. In the face of shifting market conditions, companies across industries have recognized the need for agile sales leadership to drive growth and secure market share. The Sales sector has witnessed significant turnover.
Takeaway #2: companies are demanding executives with outstanding soft skills
Soft skills, including communication and storytelling, are seen as a must when winning over colleagues and implementing new initiatives often vital to transform the organization. This is now seen requirement regardless of job function including the most technical positions.
Takeaway #3: We have seen significant movement at GM and similar toP positions
We are witnessing a changing of the guard in specific sectors and industries as baby boomers start to retire, and younger leaders that are better equipped to handle the remote-first, post–pandemic landscape are given the reigns.
Takeaway #4: The United States has emerged as the busiest market
Emerging Markets also saw significant movement as they are prime destinations for companies seeking expansion and growth.
In contrast to the USA and emerging markets, Europe experienced a relatively slower pace of executive recruitment.
Takeaway #5: Socially and environmentally conscious hires continue to grow.
We continue to support socially conscious companies as diverse hires continue to accelerate globally. We have also run several searches for green investment companies committed to providing funding for renewable energy initiatives. We hope to see both of these trends carry on in the second half of 2023.
We hope these insights can help guide your firm in its executive recruitment decisions for the rest of 2023 and beyond, and as always, we are available for a call if you want to discuss how we can help you in those searches.