“Looking in my rear-view mirror, I can make it disappear, I can make it disappear, have no fear.”
Aeroplane, Red Hot Chili Peppers, One Hot Minute
Intending to provide insights that aid your decision-making process, I’ll address executive-level search volume (a proxy for growth), hybrid and remote work (what our clients are doing), and candidate sentiment (a talent mobility influencer).
Executive-Level Search Volume – An Indicator of Growth
Newly opened executive searches across all industries were down nearly 30% in Q4 2022
The optimist in me thinks we are tapering, China is reopening, and the days are getting longer – only good times ahead. The pessimist in me thinks the Federal Reserve has been grossly wrong before, there is a war in Europe, and it’s snowing in Vancouver. Winter is coming.
I anticipate that the Q4 2022 low of newly opened executive searches, referenced above, is the bottom of the trough. While we will not see the peak that we saw in Q2 2022, newly opened executive search numbers will remain above pre-pandemic levels, indicating growth but below the peak. My inference is purely based on the conversations that I’ve had with you, our clients. While there is uncertainty, opportunity seems to be a stronger force. The optimist won.
Hybrid Working Environments – A Card Still Worth Playing
However, if you want to attract an A-Player and have the ability to offer a remote work alternative, consider playing the card. If you allow us to access a larger talent pool on your behalf, you may fill the search sooner.
Candidate Sentiment – The Ability to Move Talent
About the Author
Dan serves as a Partner at McDermott + Bull, based in the firm’s Vancouver office. He has 20+ years of search experience across a range of industries, including healthcare and life sciences, consumer goods, and food and beverage. In his practice, Dan partners with private equity firms and their portfolio companies along with public and private companies to assist them in sourcing and engaging key executive talent nationwide.