CXO search mandates in India have seen a spike of 80-100% compared with the third quarter of  2020, as hiring rebounds and pent-up demand is unleashed on the back of vaccine rollout and companies revisit 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,” says Anshul Lodha, Head of Page Executive India.  

Lodha said that as the pandemic  brings into spotlight innovation and consumer care,, “A huge swathe of sectors—including start-ups, banking, financial services and insurance, retail, IT, e-commerce, pharma, renewable segment logistics, artificial intelligence, manufacturing and fast-moving consumer goods will be net hirers in the CXO space.”

In a survey of 1,200 professionals (CXOs/ VP, Director and above) in the Michael Page India Talent Trends 2021 Report, 69% of senior-level executives will be looking for new job opportunities this year. Of them, 60% ranked job scope and responsibilities as their top consideration when accepting a new offer.  

Compensation expectations are optimistic too, as 44% hope to get a 20% or more increase in their current salary they switch jobs. 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.

As the economy rebounds, PageGroup announced the launch of their new business unit, Page Executive India, which will specialise in executive search and leadership advisory. The new unit will focus on recruitment of personnel in senior roles, including functional heads as well as C-Suite and board-level executives.  Lodha, appointed as head of Page Executive India, will drive the CXO hiring and is supported by a team of senior specialised recruiters with an aim to disrupt the executive search market in India.

“After 10 successful years in India, we are launching Page Executive India because of the changed dynamics of business operations today. Hiring needs have to stay equally agile to reflect the skills required in the market. As confidence rebuilds in the market with the improving economic landscape, India will require the next generation of business leaders to future-proof their organisations into stronger and more adaptable establishments,” Lodha said.