Recruiting top talent today is more complex than ever. In Trends Impacting Executive Search and Recruiting: Part 1, I shared how three trends are impacting today’s executive search experience. Return to work, the ban on non-competes, and the critical importance of company culture are changing the way we approach executive search. But these are not the only factors influencing recruiting practices.
More trends continue to develop in the world of executive recruiting. Companies and employees seek diverse leadership with a new definition of executive presence. Candidates continue to evaluate potential employers’ diversity, equity & inclusion (DE&I) efforts. New technologies like artificial intelligence (AI) are impossible to ignore. These trends bring many complexities for recruiters and companies to navigate, but taking time to understand the nuances can help you leverage them to your advantage in today’s competitive job market.
Trend #4: A New Standard for Executive Presence
Growing up, my dad always talked about the importance of respect, honesty, and staying true to oneself. He believed these qualities are the makings of a truly great leader. In reality, the standard for executive presence in corporate settings has typically centered around gravitas and pedigree. Until recently, that is.
In the wake of many social, political and economic changes of the past few years, the definition of “executive presence” is broadening, and the qualities employees seek in their leaders have changed. An article in HBR earlier this year discusses the new ideal for leadership traits, including:
- Inclusivity – leaders who embraces diversity in thought and experience drive innovation, progress and growth.
- Respect – employees thrive where they feel valued and where they have opportunities to excel.
- Authenticity – when leaders show their teams who they are and what they stand for, they build stronger relationships and foster a sense of loyalty.
Recruiters and candidates alike should be prepared to discuss these valued leadership traits during interviews. Based on my years of experience in executive search, Accountability is another prized quality that aspiring leaders should discuss. Leaders are human; they will make mistakes. The ones that take ownership of their mistakes publicly set a powerful example for their teams, break down barriers, and inspire their teams to do the same. I’ve seen this leadership trait create some truly unbreakable organizational cultures where everyone is committed to growth and excellence.
Trend #5: The DE&I Balancing Act
In recent years, DE&I programs have been riding a rollercoaster, with commitments to these efforts reaching a new peak in 2020 and 2021. Since then, challenges due to evolving laws and tracking requirements have made it increasingly complex for organizations to emphasize their DE&I programs.
This doesn’t mean that businesses are less focused on building diverse workforces. On the contrary, diversity remains a top focus for candidates who, more than ever before, want to work in diverse environments and ask us about our clients’ diversity, including representation at the higher levels. Companies must continue working to navigate legal risks while strengthening their DE&I efforts.
At Grey, we believe effective DE&I efforts begin with internal discussions about what diversity really means for the company and why it’s important. This helps our clients know exactly what they are looking for and prepares them to discuss their diversity commitments with candidates. From there, we help our clients rethink their job descriptions to use flexible language and eliminate rigid requirements, which can attract a broader pool of candidates. We also advise businesses to assess their companies’ employment branding, website positioning, portrayal of a diverse workforce, and emphasis on career pathways to influence diverse candidate interest. Finally, companies must highlight community involvement as a reflection of the organization’s commitment to diversity, which in turn attracts diverse candidates.
Trend #6: The Increasing Role of AI
It’s no secret that AI is a huge trend reshaping certain aspects of executive recruiting, hiring and business operations. AI technologies can help us improve efficiency and enhance candidate pools. At Grey, we use AI in many ways to save time on menial tasks so that we can spend more time on the work where our experience adds the most value. For example, AI dictation tools allow us to record interview notes and generate summary reports (always with client and candidate permission, of course), so that we can be more involved and interactive during the actual interviews.
Despite the benefits, over-reliance on AI leads to the loss of human touch in our processes which is so important given our business is inherently about humans – leaders, employees, candidates. We’re seeing situations where AI-generated job descriptions include redundancies, errors and lack a company’s brand voice, potentially turning off potential candidates. We’re also hearing stories of recruiters relying on AI-generated research data that lacks the understanding of team dynamics and organizational culture required to determine a candidate’s potential fit – nuances that only a human researcher discerns.
In our field, it’s essential to use AI as one component of the executive search process, complemented by human experience to maintain quality and accuracy.
Mastering Executive Recruiting Trends Together
Recruiting top talent in today’s dynamic environment requires a keen eye on market trends and expertise on how to use them to your advantage. By embracing evolving leadership ideals, committing to meaningful DE&I initiatives, and leveraging AI thoughtfully, companies can attract and retain exceptional talent.
Navigating these complexities can be much easier with guidance from a skilled retained search firm. Grey’s expertise and proven approach is informed by market trends, and helps businesses identify and secure the very best candidates for their needs. Discover how our tailored executive search solutions can help you achieve your strategic goals
