C-suite chase: Job companies' search engine going full steam

economictimes.indiatimes.com:

Some industry leaders have also been critical of the inability of corporates to groom in-house talent for top jobs, being forced to turn to external candidates. In the light of that, boards have been paying closer attention to ensure a second line of talent is ready and available for the leading roles.

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Last year saw a record departure of 179 managing directors and CEOs from NSE-listed companies against 167 in 2022, as per Primeinfobase data. The search for replacements is also overshadowed by concerns about selected candidates rejecting appointments after the process is complete, something experts characterised as unexpected behaviour at the senior management level.

Leadership talent crunch
The crux of the issue is that most corporates are buying talent and not developing it inhouse, said Forbes Marshall co-chairman Naushad Forbes. «The demand is a reflection of how the economy is growing,» he said. «And also, an issue with corporates wanting readymade talent. This situation will eventually settle down, but companies should focus on nurturing and building in-house talent for leadership roles.»

When candidates decide to stay put or go elsewhere just before their scheduled joining date, companies lose valuable time.

«Sometimes CXOs just go incommunicado just a few days or weeks before they are about to join the new company, which means that we have to start the search process all over again,» said the CEO of a search firm.
Shiv Agarwal, managing director of leading