The pandemic-driven scenario, digitisation, and Great Resignation have opened up formidable opportunities in the recruitment space to hire potential C-suite candidates.
FREMONT, CA: With the advent of the pandemic, working conditions all around the globe in varied sectors have undergone a crucial transition, from a mere office-centric culture to a more flexible and diverse workspace. This very shift has changed employees' and businesses' approaches to work productivity, employee well-being, and the importance of mental health. Similarly, soaring inflation rates in the APAC arena have furthermore increased the cost of living in the region, creating a need to offer high salaries for workers in terms of compensation. This critical transformation in working patterns has led employees to reevaluate their work conditions and perspectives, with various executives quitting their jobs on account of the Great Resignation.
As a result, recruiters in the arena are restructuring their strategies and devising new action plans to thrive as masters of adaptability and to implement changing trends and platforms. For instance, staying updated with the current tech and recruiting tools facilitates increased efficiency in the recruitment process, where even hiring C-suite professionals can be conducted via remote recruitment procedures.
The pandemic scenario, though it happened years ago, has created a critical impact in the candidate-driven market, taming the patterns of recruitment procedure in executive searching. That is, flexible work arrangements, introduced as an effective alternative in the pandemic scenario, will likely remain in future years. Remote working has emerged as a mere demand rather than an option among employees who seek a job and is thus considered a crucial employee benefit criterion. Various researchers have elucidated that the remote or flexible working model will emerge as an indispensable workspace advantage in the current scenario and will likely stay that way in the future, owing to the plausible work-life benefit it proffers.
An artificial intelligence (AI)-driven approach is enhancing various sectors, and the recruitment stream is no exception. Deploying these capabilities in the recruitment process enables quick resume screening, AI-driven virtual interviews, job forecasting, and AI-enabled decision-making. It aids in streamlining the procedure with increased efficacy, opening a broad spectrum of opportunities for recruiters to explore and achieve successful hires, thereby, promoting diversity within organisations. However, headhunters in the human resources (HR) arena are likely replaceable, where harnessing AI assists in pre-screening, new hire monitoring, and onboarding processing in executive search. Moreover, businesses have increased access to efficient processes via technology, in addition to the critical streamlining of recruitment costs.
Uncertainties in the job market arena per the pandemic have elevated the cost of living currently, where employers are urged to choose the best quality executive candidates to fill in positions. Hence, offering competitive benefits alongside competitive wages is pivotal to attracting potential C-suite candidates for businesses.
