The future of executive search is ever-changing, and the trends in 2022 will shape the process for both employers and candidates. After a whirlwind of two years of learning how to evolve through the turmoil, companies need to understand the upcoming trends and how to utilise them to develop their recruitment progression.
As we rapidly reach the spring season, it is time to look to the future and see what the rest of 2022 holds. The expectation is that organisations will adapt to specific trends that work best for them, whether they implement a few or adopt an entire strategy. Below are the top six trends we expect to see within the executive search industry in 2022.
Finding the balance with hybrid working
2020 saw a remarkable shift in how industries approached office life after Covid-19 challenged us with the unknown. When Boris Johnson unexpectedly announced that everyone, or those who could, must work from home, companies had to think fast about how that would work in the most efficient way possible.
60% of the adult population in the UK worked from home during the first lockdown. 83% of employees found that they do not need an office to be productive. With such high success rates, many organisations now offer remote work and, in turn, save on company expenses or office rental fees.
The advantages and disadvantages of remote working
Remote working gives companies access to a much larger and diverse talent pool, not limited to a specific location. There is also the opportunity to recruit, hire and onboard employees quickly and efficiently using digital technology such as Zoom calls and training videos.
While many are happy with remote working, the team at Morgan Latif believes that hybrid working is the way forward. With 30.9% of remote workers saying that they struggle with loneliness when working remotely, and 62% of remote workers wanting employees to provide better technology to stay connected with their colleagues, it can be difficult to expect everyone to work remotely without potential obstacles.
Oliver Morgan, Co-Director of Morgan Latif, says: “The success of remote working depends on the industry, the candidate and the job role. Flexibility is vital, but 100% remote working could challenge the onboarding process, and leaders could struggle to create a good workplace culture. Hybrid working not only improves the culture of the company and employee development but also suits the needs of those who desire remote work and those who require support within an office environment.”
Powerful candidates
A lot of employers require similar skill sets, so plenty of candidates have a wide range of opportunities to choose from – and the surplus of jobs throughout 2021 and 2022 has allowed potential candidates to request substantial salaries and better benefits, and employers are not in a position to negotiate any less.
Executive search specialists need to approach talent acquisition more creatively to stand out from others. The goal is to build an expert company from the ground up, not fill roles as you go along. Incorporating data-driven marketing and more innovative sourcing strategies will secure those highly qualified candidates.
‘‘Flexibility is vital, but 100% remote working could challenge the onboarding process…leaders could struggle to create a good workplace culture.’’
Employers need to create a working culture that communicates employee value. Covid-19 has transformed perspective, forcing leaders to reflect on the importance of making employees believe they have a purpose.
Retention overtakes acquisition
To retain talent in such a competitive time, Oliver Morgan advises companies to take the time to understand the individual. While pay considerations are sufficient to express employee value, candidates want to work in a thriving domain where their achievements are honoured.
For retention to be an option, businesses need to take the time and energy to hire the right talent from the beginning – this will build the best atmosphere for everyone to enjoy work. In addition, offering flexibility benefits, such as remote working or additional holiday days where needed will make employees feel valued. Candidates need recognition and rewards, as well as a purpose in the workplace.
In 2022, the younger generation is expressing their need for autonomy. Leaders need to consider an autonomous outlook when developing and retaining talent within their organisation and open the floor for those who want freedom. Strong company cultures make sure that all employees are seen and heard.
Processes are advancing
Help from ever-advancing technology allows the executive search industry to adapt to changes like Covid-19. AI technology helps employers source, interview and hire candidates, opening up a much larger talent pool for managers to delve deeper. Automated rejection processes can also give valuable time back to those responsible for hiring new talent.
Technology can be a fantastic tool, but it also creates difficulties when used incorrectly. While we adapt to some incredible technology to advance recruitment processes, at Morgan Latif, we take candidate experiences on board. While some prefer an entirely virtual experience, we have seen other talents feel frustrated when they have gone through three to four automated processes before speaking to a human – an impersonal and sometimes impractical way of finding the best talent.
Sustainability matters
Sustainability trends led the way in 2021 and especially took the retail and investment industries by storm. Such trends are swiftly making their way through the recruiting process too. As employees continue to educate themselves on crucial world matters, sustainability is a growing concern for most.
It is simple for companies to become B Corp certified, but practising what they preach is essential. Candidates will see through any false preconceptions and ask the right questions to get their desired answers. Authenticity is pivotal, and showing a genuine level of care and concern for these matters will boost company credibility and put a younger employee’s mind at ease.
Diversity and inclusion
Diversity is not just an addition to your workplace – it is a huge factor in making your company an enjoyable place to work. DEI is becoming a priority for many organisations, and roles such as diversity and inclusion officers are becoming more relevant across different industries.
As we mentioned previously in our article, the 7 most effective diversity strategies in the workplace, businesses now realise the importance of diversity, and how much a clear diversity strategy can help improve the workplace and its culture.
The future is with Morgan Latif
The team at Morgan Latif believe that an executive search firm can provide innovative and impactful services to clients and candidates in a way like no other. We are passionate about incorporating diversity and sustainability within our practices and love to share our values with the people we work with to truly make a difference within these industries.
For executive search, the future is bright. Get in touch with us today about how we can help you.
