HEIDRICK & STRUGGLES
India Inc senior keen to book C-Suite for pros under 50
Traditional groups cap CXO age at 50. A mid-fifties candidate was overlooked. Younger CEOs/CXOs, preferred for tech adaptability post-pandemic, fit the 'sweet spot' age aiding old economy firms. Pawan Goenka noted internal grooming. Rajiv Dube favors longer terms. Young leaders, noted by Harsh Goenka and Claricent Partners, are ambitious and successful.
MNCs now offer best salary package to seasoned professionals to scale up their GCCs in India
Industry leaders report that multinational corporations are offering substantial compensation packages to recruit experienced professionals for their global capability centers (GCCs) in India. Over the past two years, there has been a noticeable increase in GCCs offering annual salaries ranging from Rs 3-6 crore to specialized leadership talent.
Auto Industry ramps up C-suite hiring amid post-pandemic sales surge
The Indian automobile industry is experiencing a surge in hiring for C-suite executives from diverse consumer-facing sectors to address a talent shortage at the top level amid a post-pandemic sales rebound. Over the past 12-18 months, senior executives from FMCG, consumer durables, and retail backgrounds have transitioned to carmakers like Maruti Suzuki, Bajaj Auto, and TVS Motor Company, traditionally known for hiring engineers and technology experts.
Foreign lands turn hunting ground for CXO search companies
Global CEO and CXO searches by Indian companies and MNCs focus on specialist roles in high-tech sectors like automotive and pharmaceuticals, emphasizing expertise in data centers, cloud computing, and EV technologies. Returning Indians are sought for their industry knowledge.
Executive search space heats up on the back of growing demand for leadership talent
Growing at 15-20% year-on-year, India’s retained executive search market has a mix of global search majors, search network firms, mixed model firms, boutique players and even one/two person outfits. Globally, five firms – Spencer Stuart, Heidrick & Struggles, Russell Reynolds, Egon Zehnder and Korn Ferry collectively called SHREK – dominate the executive search space. In India too, their market share is over 50%, say industry insiders.
IT companies restart top-level hiring expecting a rebound post polls
IT sector experiences leadership hiring surge after post-elections optimism, with a focus on diversity and global talent acquisition. Demand for tech talent rises in the US, driving senior leadership recruitment growth.
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India becomes the darling of expat techies as West takes a break
Indian expatriates in tech sector are increasingly considering job options in India due to the country's resilience to the global tech slowdown. The trend is driven by market uncertainties, layoffs, and high living costs in western countries. IT services, consulting, and engineering sectors are the main areas of interest.
AI officer is the hot new job that pays over $1 million
Businesses are now scrambling to appoint AI leaders, with some metaverse executives reinventing themselves as AI experts. Compensation packages for AI leaders average above $1 million. Most companies have moved on from the metaverse trend, focusing instead on AI. The fickle nature of technology trends is evident in the shifting focus from metaverse to AI.
Indian companies keen to hire a new director in next 12-18 months, shows survey
The survey analysed responses from 150 managing directors, board chairs and chairs of subcommittees in India to understand their business priorities for 2024 and their perception around the board refresh.
CXOs much wanted; demand likely to exceed supply in 2024
Hiring action is mostly concentrated at the senior levels due to increased confidence in the economy, said experts. The entry and middle levels are not seeing much action due to the aftereffects of over-hiring in 2021 that are still being felt, they said. Industrial, digital, consumer, healthcare, manufacturing and renewables are some of the sectors that are actively hunting senior talent. The search for independent directors is also high.
Retention toolkit: India Inc readies golden handcuffs to arrest CXO attrition
A toolkit to bind the CXOs may include measures like longer tenure employment contracts (five years versus three years) and longer notice periods (six to nine months) as compared with three months earlier, according to the CXO search consultants.
In AI age, India Inc gets young on board as independent directors
In a country where millennials make up the largest share of the workforce, India Inc is trying to board young executives as independent directors. “Bringing on young independent directors adds dynamism and new-age thinking to corporate boards. It also helps in bridging the age diversity gap on the boards of companies,” said Parikh.
Female CEOs lose ground in retail sector’s top echelons
While the number of female CEOs had been trending upward in recent years, nearly 90% of Fortune 500 companies are run by men. Of the 86 retail companies in the Fortune 1000, 13 had a woman as CEO as of July 2023, down slightly from the year before, according to the executive recruiting firm Heidrick & Struggles.
Large local companies ramp up search for CXOs amid macro woes
Leading executive search firms including Korn Ferry India, Heidrick & Struggles, EMA Partners and Insist Consulting have seen a 25-30% increase in CEO/CXO mandates in the first four months of this fiscal year compared to a year ago across sectors such as industrial, manufacturing, commodities, engineering, financial services and healthcare.
Age factor: Indian companies looking for younger independent directors
Leadership consultants such as Russell Reynolds, Heidrick & Struggles and Native said they are seeing increasing mandates for age diversity on boards, with a certain set of companies looking for directors in their 40s and up to mid-50s.
In fight for CXOs, companies' weapon of choice - golden handcuffs
In the last one year, these established companies have lost their top leaders to new-age firms and companies in high-growth sectors such as technology, healthcare, and others. Now, they are looking at engaging their CEO and CXO talent in more sweetened, but binding, contracts.
CXO hiring likely to touch a new record this year
Demand is coming in across sectors - led by digital and tech, but also buoyant across consumer, manufacturing, infrastructure, industrial, banking and financial services, automotive, clean energy, healthcare and lifesciences, among others, experts said.
Hiring for CEO, MD picks up as companies look for tough leaders
Firms are looking for effective and tough leaders to steer them through an economic downturn to the next level.
Covid has cut the time it takes to hire top level executives
Search firms told ET that the time taken for filling leadership positions in companies has reduced by half due to online working. The ease of holding interviews virtually has reduced the time and travel fatigue for companies and candidates.
Heidrick & Struggles appoints Puneet Pratap Singh as partner-in-charge of India
Before moving to Heidrick & Struggles, where he will soon be completing 11 years, Singh spent nearly a decade at boutique executive search firm Executive Access, where he was last a partner.
Global talent is finding India more attractive now: Krishnan Rajagopalan of Heidrick & Struggles
Nasdaq-listed executive search firm Heidrick & Struggles' CEO Krishnan Rajagopalan helps companies to figure out the best talent for CEOs.
Telecom executives rush to exit sector as companies eye consolidation
Telecom is truly in turmoil now. Analysts said smaller telcos will continue to face the heat while larger ones will run an extremely tight ship to sustain.
Krishnan Rajagopalan to lead Heidrick & Struggles
Rajagopalan is the second Indian-origin CEO to make it to the top job in the fiercely-competitive executive search industry.
Indian companies far behind US firms in offering CXOs severance pay
Severance deals are set to rise as more Indian companies look to attract global talent and adopt a perform-or-perish approach toward CXOs.
Online's billion dollar babies: How a nascent digital industry generated $1.5 bn of employee wealth in 5 years
India’s homegrown companies have used ESOPs to attract talent in compressed timelines, he adds. The fast sprints in a company’s growth are rewarded, rather than the marathon of loyalty which was the case in the era of Indian IT outsourcing services.
Thrifty Indian startups eye local talent
Gone are the days when bigger e-commerce players would hire vice presidents for Rs 1-1.5 crore plus stock options that would be worth another Rs 1 crore a year.
Demand for managers with packages higher than a crore grows by 25-30%, say headhunters like Amrop India and others
EMA Partners closed 75-80 searches with crore-plus salaries this year after 60-65 in 2013. Amrop India handled over 25 searches in 2014.
Junior investment bankers may get hefty bonus, but seniors face a cut
Head hunters said junior bankers from analysts to VPs will be rewarded better, mostly through payments deferred over the year or in stock, in line with trends.
Demand for executives will be high in 2014
Company transformations aimed at beating the slowdown and revival of growth in some sectors are expected to keep senior executive movements buoyant in 2014.
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