Jeremy Bossenger

The changes that have taken place in executive search over the past decade have in the most part been driven by a competitive business landscape, and the need for superior board-level charisma.

Diversity, equity, and inclusion for the win

A term called diversity, equity, and inclusion (DEI), which refers to policies and programmes that merge to create an environment of respect and fairness in the workplace, has taken hold globally over recent times.

In South Africa, the concept moved into the spotlight at the close of apartheid in 1994, and again with the implementation of government legislation like the Employment Equity Act of 1998.

Such policies have been actively promoting a diverse workforce and addressing historical inequalities, while simultaneously striving towards equal access to jobs, opportunities, and a sense of belonging for underrepresented groups.

An article from Forbes advises on the benefits:

• companies with a diverse workforce are 35% more likely to experience greater financial returns than their respective non-diverse counterparts:

• companies with greater diversity are 70% more likely to capture a wider portion of the market; and

• CEOs hired with DEI in mind will value the creativity that comes from multiple perspectives, and ensure that all involved stand to benefit from its riches.

New-age tech takes over

Rapid advances in the technology available to executive search firms have also been steering the industry into new territory – by streamlining the candidate sourcing, screening, and evaluation process so that companies in the space can more efficiently identify the highest-quality candidates over a wider network; and so that they can provide their corporate clients with a superior-quality recruitment process.

Just five of the digital tool categories now available to executive search firms include:

• applicant tracking systems, such as Greenhouse, BambooHR, JazzHR, Lever, and Recruitee;

• data analytics systems, such as Entelo, Talentis, Jobvite, Recruitee, and iSmartRecruit;

• AI-powered candidate matching platforms, such as InCruiter, Talently, Veloxhire, EquaTalent, and Jobma;• social media prospecting, on LinkedIn, Facebook (and its professional groups), X (formerly Twitter), and Instagram;and

• automated video interviewing, on platforms like Loom, TestGorilla, VidCruiter, and HireVue, among others.

While executive search tends to follow a much more personalised approach than other forms of recruitment, the use of at least some of the above tools, together with online meeting platforms, is proving a gamechanger for overly busy professionals in the space.

When the leadership shoe fits…

A third trend shaping this niche is the realisation among CEOs and their boards, that it is vital to take on senior executives whose values and behaviours align with those of the company at large.

While a well-remunerated senior staff member is unlikely to jump ship unless the new corporate environment matches with their mindset, it is also unlikely that they will be able to motivate their teams and create a cohesive environment for them without such a fit.

When partnering with an executive search firm, be sure that they mention in your initial meeting the need to look beyond a candidate’s technical skills and educational qualifications, to the workplace vibe they are likely to appreciate and continue to cultivate.

This subtle nuance – a sameness of attitude, if you will, among leaders and managers – is often what increases productivity, reduces turnover, and allows corporate entities to pivot with the times, when it inevitably becomes necessary to do so.

Jeremy Bossenger is a director of BossJansen Executive Search.
BUSINESS REPORT

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Three major trends reshaping executive search in 2024