Navigating DEI, Soft Skills, and Remote Work in Today’s Business Environment
In recent years, the hiring process for executive positions has undergone significant changes, with several trends emerging that are transforming the way companies approach talent acquisition. As experts in the Executive Search space, the CMRG team has uncovered some of the top trends in hiring executives that have emerged in recent years, and how companies can adapt their hiring strategies to stay ahead of the curve.
Diversity, Equity, and Inclusion (DEI)
One of the most important trends in hiring executives in recent years has been the increasing focus on creating diverse and inclusive workplaces. According to a recent survey by PwC, 74% of executives believe that diversity and inclusion are important factors when it comes to attracting talent. In addition, 61% of executives said that they are actively working to create a more diverse and inclusive workplace culture.
While technical skills and experience are still important, many employers are placing a greater emphasis on soft skills when hiring executives. According to a recent survey by LinkedIn, the top five soft skills that employers are looking for in executives are communication, leadership, collaboration, time management, and adaptability. In fact, 89% of executives said that they would choose a candidate with strong soft skills over one with more experience but weaker soft skills.
The COVID-19 pandemic has accelerated the trend toward remote work, and many employers are now open to hiring executives who can work remotely. According to a recent survey by PwC, 83% of executives said that remote work has been a success for their company, and 55% said that they plan to make remote work a permanent option for their employees. As a result, candidates who have experience managing remote teams and working in virtual environments may have an advantage.
With the increasing availability of data and analytics tools, employers are looking for executives who can use data to inform their decision-making. Candidates with a strong background in data analysis and an ability to translate data into actionable insights may be particularly sought after.
Agility and Innovation
In a rapidly changing business environment, organizations need executives who can adapt quickly to new challenges and opportunities. Candidates who have a track record of innovation and a willingness to take calculated risks may be particularly attractive to employers.
Sustainability and Corporate Social Responsibility (CSR)
As more and more companies prioritize sustainability and CSR initiatives, hiring executives with experience in these areas is becoming increasingly important. Candidates who have a strong understanding of ESG issues and a track record of driving sustainability and CSR initiatives may be particularly in demand.
The hiring process for executive positions is evolving, with several trends emerging that are transforming the way companies approach talent acquisition. To stay ahead of the curve, companies should focus on creating diverse and inclusive workplaces, placing a greater emphasis on soft skills, being open to remote work, prioritizing data-driven decision-making, embracing agility and innovation, and prioritizing sustainability and CSR initiatives. By doing so, companies can attract top talent and stay competitive in an ever-changing business landscape.
At CMRG, we understand the challenges of hiring top executive talent in today’s dynamic business environment. Our team of experienced search professionals can help you navigate these trends and find the right executive who can take your organization to the next level. If you are looking for executive search support or have any questions, please feel free to reach out to us to set up a time to connect.