PROFESSIONAL SEARCH FIRMS
IPO rush amid market rally boosts demand for independent directors
Amid IPO frenzy, companies race to appoint independent directors with specific skill sets crucial for growth. Women lead key committees, while former bureaucrats remain sought after. The process overlooks competencies, favoring recommendations from bankers and auditors. Specialized firms aid in identifying professionals for board roles, ensuring compliance with listing regulations.
Search party: Google's dominance in internet search wanes amid rising app queries and AI threats
The search landscape is evolving rapidly, with Google facing challenges from specialized platforms and AI-driven search experiences. Users now turn to diverse platforms like Amazon and social media for different search needs, impacting Google's heft. The future of search seems to be personalized and AI-driven, reshaping how we navigate the digital world.
Silver's the new gold as startups rejig CXO portfolio
Many startups, particularly those gearing up for public listing, now consider youth and experience a winning combination. Having experienced leaders instills confidence in investors and markets, who view it as an indicator of stability and potential for success, said company founders and industry watchers.
Hiring activity registers 11% surge: Foundit Insights Tracker
A recent report by foundit reveals a significant increase in hiring index, with the production and manufacturing sector showing remarkable growth. This upswing is attributed to factors like government support in PLI and infrastructure development.
India Inc doubles down on getting the gender mix right
Naina Lal Kidwai, chairperson of Rothschild & Co, who is also on the board of directors of Biocon and UPL, said one of the big factors fuelling this change is ESG reporting. Companies, especially the larger ones, are seeking ratings from global firms like Moody’s where one of the questions being asked is around diversity and inclusion. Indian companies also need to disclose Business Responsibility and Sustainability reporting besides adhering to integrated reporting where ESG etc, is being integrated into annual reports.
67% startup employees prefer moving to established firms: CIEL HR survey
According to the findings of a survey on hiring and recruitment trends by Ciel HR Services, about 67% of the workforce is open to transition to established firms. The report is based on the data and analysis of 130,896 employees across 70 startups in India, along with 8746 job postings sourced from various job portals.
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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.
Myth Debunking 101: Unpaid internships are the only way freshers an gain experience
Freshers entering the job market often face the dilemma of choosing unpaid internships for gaining experience. While such opportunities can be valuable, experts caution against the financial burden and limited growth prospects. They recommend exploring alternatives like apprenticeships, freelance projects, and upskilling programs to enhance skills and career prospects effectively.
BDO India introduces executive search services
As part of the global BDO organisation, the firm is looking to cater to the requirements of both domestic but international businesses.
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.
Can India's quick commerce revolution be a catalyst for job creation?
Q-commerce in India, led by major players like BlinkIt, Swiggy Instamart, and Zepto, is reshaping the retail landscape. The sector's rapid expansion offers significant job opportunities, especially in logistics, warehousing, and technology-driven roles, promising continued growth.
Rise of fintech leads to demand for leaders who can manage regulatory and business requirements
Increased regulatory requirements in fintech drive demand for professionals with expertise in blockchain, AI, and cybersecurity. Boards seek leaders capable of navigating complex regulatory landscapes while fostering innovation and ensuring regulatory compliance for sustainable growth.
Employees at India’s top law firms likely to bag handsome payouts this year
Law professionals said employees are likely to get an average salary increase of 10-15%, with high performers set to bag 20-25% increments as firms try to reward and retain top talent that gives them the competitive advantage. Bonuses for top performers could go as high as 120-150% of the initial targeted variable pay, said senior company officials. By contrast, average salary increments across industry sectors in India in 2024 could be 9%, marginally lower than last year’s 9.2%, said a recent survey by management consulting firm Deloitte.
Pool of ‘unemployed CXOs’ grows as old firms refuse to match startup salaries
Several CXOs laid off by startups are struggling to find new roles as traditional companies are unwilling to hire them at the inflated salary levels and fancy designations that attracted them to startups in the first place. This situation has led to a growing pool of 'unemployed CXOs' in the job market. Many of these executives are finding it challenging to secure new positions due to their above-market compensation packages and lofty titles. The influx of resumes from these individuals, who are seeking roles in large companies but are deemed overpriced, reflects this trend.
Fat packages for tech interns; Google's search for data centre land
At IIT Mandi, 27 students have received stipends of Rs 1 lakh or more this year. In Bengaluru, RV College of Engineering has seen 39 students getting over Rs 1 lakh in monthly stipends compared to 8 last year. Around 30 students at Vellore Institute of Technology have also bagged Rs 1-lakh stipends, with companies like Couchbase and Amazon offering Rs 1.2 lakh and Rs 1.1 lakh, respectively.
Cash-rich NBFCs lure banking professionals for CXO roles amid rapid growth
Leading NBFCs are attracting top CEO and CXO talent from major Indian banks like ICICI Bank and HDFC Bank. Recent moves include executives joining Poonawala Fincorp and L&T Finance, reflecting the sector's rapid growth.
Bankers in India to get higher salary increases than Singapore, Hong Kong
India's finance professionals are set for significant salary hikes in 2024, outstripping Hong Kong and Singapore. Major firms like HSBC Holdings Plc are expanding operations in India, reflecting the nation's economic growth and wealth management potential.
Industrial and manufacturing sector dominates million-dollar CXO club
CXOs from the industrial and manufacturing sector dominate the million-dollar compensation club, followed by financial services, automotive, and pharma sectors. Talent gaps, compensation structures, and the distribution of large companies impact high earners. Knowledge-based companies in IT, software, and banking perform well in terms of compensation.
Startup recruiters find few takers amid overall hiring slowdown
Talent acquisition professionals at inflated salaries have found themselves priced out of the market as opportunities dwindle.
Companies enter 'empathy' in CXO search bar
Prominent leaders such as Naushad Forbes, Saugata Gupta, Bharat Puri, Pankaj Arora, and Shailesh Haribhakti stress the significance of empathy in leadership. Companies recognize the need for employee engagement and value leaders who demonstrate both performance and empathy.
BFSI firms ramp up legal teams
Demand for legal and compliance professionals in the BFSI sector has surged, with companies making key appointments to strengthen regulatory adherence. There has been a sixfold jump in managing director level movement in legal and compliance functions. The need for skilled senior compliance professionals has increased, especially in the BFSI sector. Financial institutions are recruiting senior compliance officers to ensure customer protection and market transparency. The recent regulatory emphasis has fueled the demand for experts in compliance roles.
BFSI sector sees surge in demand for legal, compliance professionals
Demand for specialist legal and compliance professionals has surged in the BFSI sector in the past year. Companies are seeking to bolster their in-house legal teams with chief legal officers, chiefs of compliance, and general counsels. The demand is driven by stricter regulatory guidelines, evolving governance structures, and accelerated digitization of the legal system. Companies are also focusing on fair practices and regulatory adherence.
Professional CXOs dominate India Inc's million-dollar-plus compensation club in FY23
In FY22, India Inc's million-dollar club had expanded by 37% compared to a decrease of 17% in the pandemic-hit FY21. The total compensation of C-suite executives went up 7.56% to ₹4,256 crore, from ₹3,957 crore in FY22. Here, too, professional CXOs amassed the bulk of this increase with the collective compensation for professional CXOs going up by 21.08% while that of promoters registering a decrease of 9%.
Global capability centres shell out premium to hire top talent
The MNCs are also moving an increasing number of global and senior-level roles to the GCCs in India. This is prompting them to woo top talent by paying higher than the compensation offered by many in the technology industry including products, services and tech-enabled startups (barring a handful of large IT firms), they said.
Wanted: Human resources to steer Artificial Intelligence
The growing recognition of AI's transformative potential, and its role in giving a competitive edge, optimising operations, personalising customer experience and driving innovation, have led to a sharp rise in such mandates, say job search platforms and headhunters including foundit, ABC Consultants and Michael Page. Small and mid-sized boutique firms and multinationals' global capability centres are also driving the trend.
When old is gold: Job search nuances for experienced professionals above 50
WisdomCircle, a technology enabled platform that connects senior experienced professionals (typically above 50, retired or soon to retire) with organizations looking for specialized, senior talent had some insights from their work with 100+ organizations across sectors where they have helped these professionals find roles as advisers, subject matter experts, senior consultants, mentors, coaches, board members and more.
LinkedIn taps AI to make it easier for firms to find job candidates
The Microsoft-owned social network for business professionals has been using technology from OpenAI, the creator of ChatGPT that Microsoft has invested in, to develop the features.
GST woes at online gaming companies trigger a deluge of CVs at recruitment firms
The implementation of a 28% GST on online gaming in India has led to a surge in job seekers from the sector. Concerns about the potential impacts of the GST on their future have prompted employees to actively seek new opportunities in other sectors. Job searches by talent in Indian gaming companies have nearly tripled in the last six weeks.
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