Senior Executive Market Updates – End of April 2021
Since there has been limited change in the marketplace in the last fortnight, just continued growth concentrated in similar industries and disciplines, it may be more interesting to review what has changed as a result of Covid and what consequences there may be, which are of relevance to our Clients.
Employment levels
It is well known that most of the newly unemployed are in the younger age brackets and bearing in mind that many of their roles are in the areas that have been closed, it is remarkable that unemployment is still as low as 5%.
It has also been very noticeable throughout that the more senior the executive level the less the recruitment market has been curtailed.
It is worthwhile noticing that Corporates have responded very positively to the Covid restrictions, moving to online, automating, improving supply chains and operational efficiency, so that there is the prospect of achieving a major increase in productivity over the next few years.
Despite the prospective end of employment support schemes, such as furlough in the UK, prospective Corporate growth augers well for employment levels as a whole and points to significant continuing urgent demand for forward looking experienced Senior Management.
Flexible Working
It is already clear that flexible working is here to stay, but the ramifications, as they affect Senior Management, are possibly not fully appreciated yet.
Clearly, if one can avoid travelling to work 4 days a week it is viable to live more remotely and invest in a longer journey 1 day a week. However it follows that the longer journey need not necessarily be undertaken every week and that one’s home need not be in the same country as the office. Indeed the office can, in many instances, be virtual as well.
Senior Executives have already become very flexible in applying for overseas roles, but in future Corporates may become more flexible, to secure the best Management, and one may not need to balance a remote employer with having to move home or sacrifice one’s Partner’s career.
Business Travel / Relocation
One might expect the ability to, and convenience of, conducting video conferences for group meetings to have a devastating effect on business travel, but as and when the internationalisation of Senior Management takes off, we may well see that tendency counteracted.
In seeking remote roles now, at home or abroad, it is no longer unrealistic to ask the Corporate whether relocation is required.
Remote Interviews
A lot of people, who were not accustomed to Video Meetings before Covid, have had to work out how to go about Video Interviews and it seems the first answer is background.
One must avoid a scruffy background and if possible avoid using a screen. It is well worth while selecting or creating the most elegant surroundings possible.
As to appearance – one may win by being different, but one is more likely to win by being safe. The first problem arises in the first call when one does not know whether the interviewer is working from home or office.
So awareness of your background and your appearance whilst seemingly obvious are not insignificant factors in creating an immediate positive impression especially in International markets.
Overall
Things have changed, Corporate life for many individuals and organisations has changed. Attitudes to how and where we work has changed. Whatever the immediate future holds Corporates across the globe and in almost all major business sectors are increasingly focused on how to handle changes that could transform the business and how to recover and regain growth.
In such a market for the Senior Executive seeking a new challenge or uncertain about their current situation the time has never been better to confidentially and carefully start the hunt.