Looking Ahead: 2023 in Executive Search
2022 was a fantastic year for Moon, and for the Executive Search space at large. But the rapid change that has characterised recent years promises to march on and serve up plenty of new challenges in 2023.
Proactively changing with the times is what we do. Finding the world’s best leaders, fit not only for the challenges of the present but also for the future requires a keen sense of the moment, a finger on the pulse, and two eyes fixed on the winding road ahead.
‘The candidate driven job market which stimulated the recruitment space through 2022 is showing signs of slowing. Despite this, and despite economic concerns in light of inflation and the threat of recession, we expect the recruitment sector to remain strong, particularly at Executive and Non-Executive level. The challenges that lie ahead mean that the demands placed on leadership will be complex. In times of trepidation strong leadership is more important than ever, and we expect to see continued competition to recruit from the cream of the C-Suite crop in 2023.’
- Simon Quinn, Director of Executive Search
Work-place values appear to have changed irreversibly. With hybrid and remote working continuing to be widespread and the demand amongst candidates for more than just a pay packet means that creative recruitment strategies incorporating company culture, CSR and more traditional benefits will be rewarded. Progress towards diversity and inclusion continues to become more central to employers, and the input of an impartial, thorough third party like Moon is highly sought after to drive this.
Retention was arguably the word of 2022, and long-term solutions continue to be our priority. Search and selection is no longer a one stop service. As well as finding and selecting the right people to fill roles in the long term, there is a growing demand for leadership consulting on an ongoing basis. With expectations of leaders already complex post-pandemic, further global events and trends could intensify the need for leadership services and change management in 2023.
With the turbulence of high inflation and cost of living, ongoing supply chain issues, and industrial action, agility, durability, and forward-thinking will be more important than ever. Financial Executives are expected to be in high demand, and Moon’s strong footing in the financial sector will be compounded with the addition of a dedicated financial recruitment practitioner.
Global interests will continue to add speed to our fast-growing IT & Tech Practice, with fuel prices accelerating clean tech and many other sectors set for more rapid growth.
Moon Executive Search Head of IT Practice, Gemma Wilks:
‘IT and Tech sector candidates continue to be in high demand, with predictions of Artificial Intelligence, Cyber Security and continued Digital Transformations being top of the agenda for businesses. The IT Practice has a focus on technical roles across the thriving technology and software industry sectors, working with SMB companies through to Global Organisations, with completion of successful campaigns including : IT Project Managers, Solution Engineers, Software Consultants, Cyber Analysts, Cyber Practice (Head of Practice, Analysts and Engineers) Cloud Architects, Unified Communications Engineers, Senior Management and Team Lead roles as well as IT support (1st, 2nd, 3rd and 4th line).
2023 is already off to a great start, we’re very excited to be supporting new and existing clients. With such high demand for specific skillsets, there’s a huge need for search services, and I expect 2023 to be characterised by deep research campaigns and strategic thinking that will allow us to target closed markets and attract the best candidates.’
Head of Charity Practice, Sandy Hinks:
‘Over the last few years, the charity sector has been through periods of upheaval. However, the sector has adapted to these changes well, it has had to look at new ways of working, improving digital presence, working models, as well as having to change operating procedures.
2023 promises to bring a tricky economy and a cost-of-living crisis, as well as a shift in the market – as traditional methods of advertising roles for Senior Leadership Teams, Voluntary Chair and Trustee roles are getting increasingly harder for charities to do in-house.
However, this puts our Charity Practice in a good position to continue to assist with successful placements, using our long-developed rigorous search process and network. We are well embedded within a network of charities both local and national and we expect to see the demand for our services continue to grow as it has done for the past few years.’