The end of the year is a great time to reflect and to also look ahead. In the last twelve months, our search strategies have had to adapt to change. 2021 has posed many challenges for organizations: continued restrictions, persisting uncertainty, managing hybrid workforces and closed borders. But besides challenges, IESF partners also faced opportunities. And we experience an overall growth in number of international positions looking at the second half of 2021 and into 2022. So, we positively look forward to the next year and would like to discuss 7 market trends we see in executive search for the upcoming period. Our IESF partners are prepared, are you?
- Candidate driven market
The biggest and most significant change that we’ve seen in the world of recruitment is the shift to a candidate-driven market. For the first time in a generation, there are more available jobs than there are candidates, and therefore the applicants hold more power than ever before. This means that recruiters will have to work harder to stand out and attract top talent. In 2022, we can expect to see a more creative range of recruitment strategies, whether it’s searching tactics, data-driven recruitment marketing or improved employer brand communications.
- Remote recruitment
It’s quickly become evident that remote recruitment is here to stay. Candidates are expecting remote work and remote interviews, at least at the first stage. In 2022 recruitment partners need to find ways to embrace the remote recruitment process. IESF partners focus more on developing new advanced tools, to improve effectiveness of the remote process and help clients cope with this challenge.
- Reaching passive candidates
The last year many companies competed for the same candidates and skillset. Passive candidates can often make better hires. Instead of being desperate to leave their current employer they’re excited by a company, the challenging job description, and its employer brand. The opportunity makes them consider leaving the safety of their current employer, whether it’s the opportunity to learn, the thought of a new challenge or the chance to work for a company that aligns with their values. This is a trend that won’t go away any time soon. At IESF we see a rise in digital attraction strategies and reaching out to passive candidates directly from a researching perspective.
- Longer notice periods
Long notice periods for senior hires have always been a standard in executive search. In a candidate-driven market where employers are desperate to hold on to employees, we can expect this to continue into 2022. IESF partners are focused on keeping warm strategies for candidates in 2022 to maintain excitement and enthusiasm through the duration of a notice period.
- Talent mapping
Many organizations focus on workforce mapping to understand their internal strengths and weaknesses, aligning skills with current and future organizational plans. However, in a highly competitive market with significant employee movement, it helps to regularly map skill sets externally as well, in order to understand who has the skills you require, what they’re looking for in a career and employer, and the salaries they’re earning. This knowledge can be very powerful in strategically shaping recruitment, training and retention programs to realistically meet the needs of the business.
- International hiring
If there is one thing the pandemic taught us it’s that managers and directors are also able to manage their companies from their home offices. An expert doesn’t have to live in the same area or even same country to be successful in his job. That means that you can search all over the world for the right expertise. And there are some countries famous for certain industries or business developments, so why not see if they can be of an added value for your local company? At IESF we work on several international searches simultaneously. To find the best solution for both the client and the candidate. This trend actually led to two opportunities. First, the opportunity to find and recruit experts for your company, regardless of their location. And secondly for organizations who normally attract expats for their subsidiaries, which shifted their recruitment focus to a preferred hire of local managers instead due to all covid restrictions and travel limitations.
- Investing in existing talent
With organizations struggling to hire new talent, holding onto the employees you already have – who already understand your organization’s processes, products, and systems – is vital. Organizations should consider building tailored retention and training strategies based on the current demands and values of the workforce.
International Executive Search Federation is one of the world’s most recognized international executive search groups / associations. Identifying talent and leadership in 50 offices and 22 countries, we are globally known as “The Local Experts” because we understand regional markets and their specific needs when it comes to executive recruitment. We offer a fully customized, local approach to search projects, based on culture, regional economics and the local candidate marketplace. We never seek to impose a “one-size-fits-all” solution. Our search process is optimized to the local culture.