New Delhi: Demand for top executives at corporate India seems to have bucked the downturn trend in the economy.Executive search firms such as Korn Ferry, EMA Partners, Transearch, Insist and Head Hunters said they are all witnessing an at least 20% increase in search mandates for CXOs over last year.The demand is primarily being driven by promoter-led firms and midsized companies, as they look for professional talent to drive their business to the next level. Another set of CXOs with digital or tech expertise is also in high demand, as companies across sectors are digitising or automating their operations.72233787 “Market matrix may not look that good but companies are not stagnant, especially in terms of leadership hiring,” said K Sudarshan, regional managing partner-Asia at EMA Partners. Apart from technology and digital, hiring in consumer and retail domain is also picking up, he said.A study carried out by staffing specialist firm Xpheno traced 100 CXO movements between April and July, confirming the trend.“The CEO movements in tech companies are due to these companies seeking top talent with technical expertise … to replace the current CEOs who are just managers,” Xpheno co-founder Kamal Karanth said.Much of the CXO demand is from mid-size firms, promoter-driven companies and startups that are well-funded, according to the findings of the study shared with ET. It shows the need to onboard senior professionals to try and influence consumer behaviours and to acquire more consumers.“There is demand all across the sectors for leadership talent,” Korn Ferry International chairman Navnit Singh said. “Some of the searches are due to performance-related exits, but most are planned.”Head Hunters India is currently involved in three searches where promoter-led companies are looking for professional talent, founder-CEO Kris Lakshminath said. On its client list are a Rs 400-crore revenue Vadodara-based manufacturer of dieselengine components that is looking for a chief executive; a Rs 500-crore rubber chemical maker in Mysuru that too is looking for a CEO and a Rs 350-crore Madurai auto ancillary company that wants to fill the position of chief financial officer.There is a regime change across companies and sectors where the old guard is giving way to new talent, said R Suresh, managing director at Insist.About 35% of the CXO movements, according to the Xpheno study, was for newly created positions, suggesting that companies are increasingly onboarding professionals to drive growth.The study, ‘CXOs on the Move-2019’, has tracked verticals like technology, media, consumer/retail, BFSI and healthcare. The exits are more than the hires in the technology vertical, as per the study. “This confirms the high demand for tech talent, especially digital,” said Xpheno’s Karanth.Some prominent hires in the last six months include Royal Enfield’s appointment of Vinod K Dasari as its CEO, Vipin Sondhi’s joining the global leadership team at Hinduja Group, Tractors & Farm Equipment’s appointment of Sandeep Sinha as its CEO and Rudratej Singh’s appointment as the president and CEO at BMW India.Other recent appointments include that of Mandar Vaidya as the CEO for Southeast Asia and the Middle East at Oyo Hotels & Homes, Abhinav Kumar as the vice president for product marketing at Paytm and Aishvarya Murali as the chief marketing officer of Ola.There has been pent-up demand for top talent for some time and now with signs of an uptick in business, companies are taking a call on the searches that had been pending, said Transearch managing partner Uday Chawla.
from Economic Times https://ift.tt/2KUC2V6
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