Executive Recruiting Trends for 2018 – And What’s Next
No matter what the state of the economy or how high or low the unemployment rate, businesses still face a significant challenge when recruiting executive talent. Even when the pool of available front-line workers rises, the talent pool for qualified executive candidates remains relatively small.
There are only so many qualified individuals that can make recruiting for even low-level executive positions a real challenge. Even rarer are the proven executives, talented individuals who have already left their mark and are now ready to move on to a new adventure.
Finding and recruiting those capable individuals is what executive search and recruiting is all about. Executive recruiting is about more than just matching jobs and candidates. It is a specialized form of talent selection, and the need for quality executive search has never been higher than it is today. So what can business owners and entrepreneurs expect as 2018 continues? What trends might they see in the field of executive search and recruiting, and how can they find the most talented individuals for the jobs they have on offer?
Increased and More Intense Competition
While the general job market has remained quite steady over the past decade, the trends in executive recruiting have changed enormously. As the business world continues to shift, the need for executive recruiting grows ever stronger, even as the available talent pool continues to shrink.
One of the most prominent trends business owners can expect to see in the coming years is increased competition in the executive search field. As members of the baby boomer generation continue to retire en masse, the pool of experienced and qualified executive talent is shrinking fast.
While there are plenty of qualified graduates emerging from business schools and no shortage of MBA candidates, the talent of these individuals have not yet been proven. Even the best business school grades are no substitute for real-world experience, and the only way to know if a candidate will work out is to give them a chance.
The Digital Age
Throughout the next decade, business owners and executives will rely even more heavily on digital platforms and data analytics to find the right people for their jobs and recruit the most talented individuals to their executive teams. This trend toward data analytics, most visible in the use of sophisticated algorithms to scan incoming resumes, has been going on for quite some time, but it is ramping up in a big way.
Flying candidates across the country or around the world in the early stages of the interview process has already been replaced by initial video screening along with virtual reality based interviews.
Digital footprints are increasingly becoming a company’s priority when assessing talent, rather than the more traditional resume. Ensuring your digital footprint is clearly articulating what you can bring to the table will be the foundation of any top executive’s career path.
The Power of the Brand
Businesses have long used their brands to sell products and create a connection with their customers.
What is new is how businesses and executive search firms are using the power of the brand to recruit the best talent. The most talented individuals want to work for the best companies, and they are flocking to businesses that have created a solid reputation for quality, innovation and service.
In 2018 and beyond, expect recruiting firms to help businesses sell themselves as well as their products. The modern branding model is about more than selling products; it is about selling themselves. The companies that succeed at this type of branded selling should expect to see excellent results, while the ones who fail could watch their stars dim and their executive offices empty out.
The world of executive search is changing fast, and business owners need to keep up with those shifts in the search for talent. As 2018 carries on, expect to see a greater focus on finding the best talent. Success can be found through forming deeper and more meaningful relationships, leading to better candidate evaluation through understanding the organization inside and out; their culture and their journey.
Summit Search Group is a national leader in professional recruiting and executive search with a dedicated search and process to find top talent. The focus is on quality and appropriateness for the position. The organization’s best interests are at the forefront — where they should be.
About the author
Matt Erhard is the Managing Partner at Summit Search Group. Matt is a skilled leader in professional and executive recruiting in Winnipeg; he has earned the role of trusted partner to his clients. Through open dialogue and attention to detail, Matt creates long-term partnerships with candidates and clients alike. Follow Matt on Twitter @MattErhard.