Laid off CXOs are much in demand as companies look to hire execs with proven track record

economictimes.indiatimes.com:

Often roles become redundant as an outcome of consolidation, mergers, restructuring of businesses, regulatory hurdles or funding delays, and top executives who lost jobs due to industry dynamics and uncertainties form a critical talent pool for other companies across sectors, said the officials.

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Such candidates have a proven track record and may not have a long notice period to serve. Besides, with compensation levels skyrocketing and C-suite professionals becoming increasingly and “unrealistically demanding”, this talent cohort is easier to manage in terms of their salary expectations.

“Sometimes you buy distressed assets at attractive valuations. This is also something similar…it is top quality, critical talent for companies especially at a time when the leadership search market is vibrant and CXO talent is in short supply,” said the HR head of a leading company in the services sector, who did not want to be named.

“With startups having lost their sheen (and amid) the very real funding winter, many high-calibre C-suites leaders have lost their jobs. With India Inc on a hiring spree, these professionals are not just being picked up, but companies are looking at proactively hiring from this niche talent pool,” said Jyoti Bowen Nath, managing partner, Claricent