Search for CXO level roles in India grows 80-100 pc during Sept quarter: Report

With the COVID-19 vaccine roll-out gaining momentum in the country, there has been an 80-100 per cent spike in search for C-Suite and board-level executives in Indian companies during the June-September 2021 quarter as compared to the year-ago period, according to a report.

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CXO search mandates in India have seen a spike of up to 80-100 per cent compared with Q3 2020, as hiring rebounds and pent-up demand is unleashed on the back of a vaccine roll-out, according to a report by Page Executive India, the executive search and leadership advisory arm of professional recruitment services firm Michael Page India.

It added that companies are re-igniting growth and expansion plans.

"While firms this year will continue to focus on growing existing talent in the organisation, there will be an increasing openness for lateral hiring at senior levels, to get a fresh perspective, and guidance through the next burst of growth," Page Executive India head Anshul Lodha said.

As the year puts more spotlight on innovation and consumer care, a swathe of sectors, including start-ups, banking, financial services and insurance, retail, IT, and e-commerce, will be net hirers in the CXO space, he observed.

The report is based on an internal survey done across 1,200 professionals (CXOs, vice-presidents, director and above) by Page Executive India.

About 69 per cent of senior-level executives have stated they will look for new job opportunities this year, the report further showed. A majority 60 per cent of them ranked job scope and responsibilities as their top consideration when accepting a new job offer, it added.

It found that even the compensation expectations are optimistic as 44 per cent respondents said they expect 20 per cent or more increase in their current salary when looking to a new employer.

To them, mental health is the most important influencing factor about a potential employer, as all the respondents ranked a healthy work culture above possible career growth opportunities and strong brand recognition, it added.