July 11, 2022 – Talent management, particularly hiring and retention, is a major concern and priority across industries and organizations. Over the past two years, businesses have faced multiple challenges with their global executive search, be it from COVID restrictions, a hybrid mode of work, or closed borders. As such, it’s crucial to understand the top trends that will govern the market going forward, says The Taplow Group, in a new report. Not only will this knowledge help you attract the best talent but it could also help bolster your resilience to the uncertainties to come.
Here are five key trends that The Taplow Group says you should pay attention to:
No. 1. Employers are no longer in the driving seat for global executive search
Make no mistake: It has become a candidate-driven market and there are more jobs than eligible and competent candidates. “Hence, organizations need to come up with innovative strategies to reach out to candidates and attract them for the best roles,” said the search firm. “This would require some creative hiring strategies, data-driven decision-making, and effective brand communication.”
No. 2. Remote recruitment will continue
Even though we are slowly coming out of the pandemic, things will not go back to the normal that existed before the crisis. “We will have to embrace the new normal and so would global executive search services,” said The Taplow Group. “Remote recruitments will continue, and organizations need to become more tech-savvy and use tech innovations and devices to accelerate the process as well as provide the best experience to each candidate.”
No. 3. Passive hiring will increase
Organizations will have to reach the candidates and not the other way round. You have to attract talent with your brand name, challenging job role, attractive work culture, and employee-friendly policies and work environment. “The opportunity to learn more, work in a better environment, or take up new challenges will bring candidates toward your organization,” said the report. “This trend will continue since the market is candidate driven, hence passive hiring will play a pivotal role.”
No. 4. Longer notice periods
In an attempt to hold on to and retain employees, organizations can think about longer notice periods – 90 days on an average. This would give companies enough time to understand the reasons and maybe come up with policies and compensation to retain the employee, said the search firm. “In this market, this trend will come up, and though it may not be working for the candidates will be something that would work for the organizations, as employers,” said the report.
No. 5. Borders are no longer a barrier
Someone sitting in China can run a business in the U.S., while someone from India can operate organizations in Europe. “Truly, the world is now a global village, and people from across the world are being hired without any consideration of the geographic barriers,” said The Taplow Group. “With remote work models and digital tools, this will make things easy and help organizations recruit a diverse workforce.”
Established in 2002, The Taplow Group has 21 partner firms, located across six continents in 18 countries. The Taplow Group partner firms offer executive search, human capital, board advisory and executive interim services across multiple industry sectors. The Taplow Group is established in 19 countries in Europe, America, Africa, Oceania, and Asia-Pacific, with 36 offices. Countries covered include: Australia, Brazil, China, Denmark, Finland, France, Germany, Luxembourg, India, Italy, New Zealand, Norway, Russia, Singapore, South Africa, Spain, Sweden, the U.K., and the U.S.
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; and Stephen Sawicki, Managing Editor – Hunt Scanlon Media