Where next for Executive Search in 2021?

In this article Simon Quinn, Director of Search at Moon Executive Search looks at the changing landscape of the executive recruitment sector, what has happened since the pandemic and what prevalent themes he sees emerging.

Like many other industry sectors, the world of Executive Search has reshaped due to the pandemic and we are seeing some very specific themes emerge in 2021 that appear to be driving hiring decisions.

Digital Skills

Many boards are focusing on the need to accelerate their digital transformation, and this is broadly true across multiple sectors. So we are seeing a real shift where clients desire for digital skills are now top of their agenda across all sectors, from manufacturing to wholesale.

Transformation Skills

What we are now seeing is an increasing demand for business transformation specialists, as we move into a post Covid-19 World.

All businesses, whatever sector in which they operate, will currently be reviewing everything from their supply chains to their overall strategy and business processes and as a result of this, we are seeing a rise in the need for transformation and change experts.

The new ‘Brand’ Non-Exec

The value of NEDs has increased exponentially in the past year. The insight and network that a good NED can bring is invaluable when looking to navigate a business in uncertain times.

Their judgement and experience can help immensely when it comes to problem-solving and facing new challenges.

Whichever sector we consider, clients are especially interested in finding leaders that can help develop commercial opportunities, provide insightful strategic input and ensure appropriate structure and corporate governance.

More and more we are asked to source a new NED that brings a great brand to strengthen the board and as such, adds weight to the overall board dynamic.

Remote Leadership & Inclusion

Although the lockdown and restrictions will be loosened eventually, it is generally accepted that the way in which we work has been altered permanently – the concept of home working has been proven by necessity for a vast number of employees.

Therefore, it is inconceivable that we will not continue to adopt some of the flexibility this affords both the individual and their employers in the future.

Executives that can motivate and lead their teams from afar will therefore bring a huge benefit to the stakeholders.

Understanding individuals and their personal needs has already become a key requisite in what makes a good leader, and we expect to see these good leaders thrive in the future as they demonstrate their value through flexible and tailor-made leadership.

A study into virtual leadership found that there is less of an emphasis on charm and personality, and more focus on getting things done:

‘Remote leaders were doers, who tended towards planning, connecting teammates with help and resources, keeping an eye on upcoming tasks and, most importantly, getting things done. These leaders were goal-focused, productive, dependable and helpful.’

Transparency and Purpose

The realignment of business since the pandemic has placed renewed emphasis on purpose. We expect to see further demand for leaders that can focus the purpose of a brand, bringing an organisation together with shared values and a mission worth pursuing.

According to figures:

‘71% of consumers believe the pandemic will force companies to act more responsibly in the long-term. Furthermore, six in 10 (62%) think companies have the opportunity, due to the pandemic, to be more thoughtful about how they incorporate sustainability into their business models moving forward.’

So, leaders that can drive purpose within the company, whilst urging transparency and responsibility, will help present the organisation in the right way.

Moon have signed up to the Change the Race Ratio and were one of the first 50 signatories for this campaign, whose primary aim is to increase racial and ethnic participation in British businesses.

The team at Moon firmly believes in creating an inclusive culture in which talent from all diversities can thrive: focusing on recruitment and talent development processes to drive a more diverse pipeline. Read more about Moon Executive Search joining the CBI-led initiative here.

There are clearly multiple benefits to having a balanced workforce that reflects our society, and therefore it is likely that the companies who maximise the employee engagement are likely to out-perform their rivals in 2021.

Environmental, Social and Governance

Throughout 2021, we will see an even greater focus on environment, social impact and good governance and this is set to continue as both investors and consumers continue to place increasing emphasis on ethical practices. See more here

There is an increasing demand for sustainable investment, stakeholder value and long-term considerations. Investors now routinely analyse information on ESG performance with other financial and strategic information to gain a greater understanding of companies’ prospects.

As you can see, the future is changing rapidly and 2021 promises to be a year filled with both challenge and opportunity.

It is clear that organisations need to embrace change, balance risk and reward and challenge their thinking by hiring leaders today that can transform their business for tomorrow.

As we emerge from the pandemic, we may have seen some uncertainty but looking forward to 2021 the vision of Moon Executive Search remains to connect great leaders with great opportunities.

Distinctive. Ethical. Approachable.

We are proven & trusted advisors in board & senior management appointments, connecting great leaders with great opportunities to inspire and develop the diverse boards of tomorrow.

https://www.moonexecsearch.com/ 01275 371200

Featured