The business world is ever-changing, and executive recruitment is no exception. Companies must stay ahead of the curve and use innovative strategies and technologies to find the best leadership talent for their organizations. The International Executive Search Federation (IESF) offers a personalized local approach to project searches, taking into account culture, the regional economy, and the local candidate market. To be successful, companies must embrace artificial intelligence (AI) and data analytics, prioritize diversity and inclusion, adapt to remote hiring, value social skills and emotional intelligence, and improve their employer brand image and candidate experience. AI can help teams refine interview questions for candidate evaluations, source potential candidates from a wider range of sources, analyze data from previous executive searches to identify patterns, predict which candidates are most likely to succeed in a given role, detect potential biases in the hiring process, and promote DEI (diversity, equity and inclusion).
Leaders must also be aware of virtual fatigue and adjust their routines accordingly - such as changing the cadence and format of their meetings. Organizations that have managed to overcome these challenges have done so by fostering high levels of communication. This encourages collaboration between all members of the organization and promotes internal interactions for problem solving. Fortunately for employers, the benefits of remote work are undeniable. Surveys have shown that employees are 77% more productive when working from home, with 23% of remote workers saying they work longer hours than if they were in the office.
This is beneficial for the organization as a whole, as employees also report better mental health and higher levels of engagement. Patrick Van Lijsebetten, managing partner of IMSA Search Global Partners Belgium and CEO of Rialto Executive Search (part of the PROMAN Group), has extensive experience in global recruitment of senior executives. As the business landscape continues to evolve rapidly, so does executive hiring - particularly when it comes to critical business hires. The selection of hired executives involves an exclusive contract with a company to hire staff for a specific position with a predetermined fee structure; whereas contingency search involves hiring multiple companies with the hiring commission going to the company of the successful candidate. Executive selection commissions typically represent up to 33% of total executive compensation - although costs can vary significantly. As companies continue to prioritize DEI initiatives, executive search firms play an essential role in identifying and recruiting diverse senior talent while helping clients create more inclusive hiring processes over time.