Sales, marketing leaders most in demand as CXO hiring rises 15% in H1 of 2024
Mint, pegs the growth in leadership hiring in the first six months of this year at 15% year-on-year. In January-June, 474 top-deck recruitments happened compared to 411 in the same period last year. Business head and chief operating officer (COO) appointments increased by 13%, while chief executive officer (CEO) hiring increased by 8%.
According to Sonal Agrawal, managing partner of Accord India, the spurt has come on the back of overall growth, new projects and expansion plans of companies, as well as leadership upgrades as companies evolve. “For example, the increased number of initial public offerings (IPOs) caused an uptick in hiring of CFOs with fundraising, listing, investor relations and listed company experience," Agrawal said. So far this year, companies such as Ixigo, Emcure Pharma, Go Digit, Aadhar Housing Finance and Indegene have gone public and others such as Unicommerce, Ola Electric and FirstCry are in the process of listing.
Other search firms that look at CXO recruitment, too, say this has been one of their best years, with Korn Ferry pointing to a 15-20% increase in leadership hiring in the BFSI (banking, financial services and insurance) sector in H1 of 2024. “Amongst all profiles, independent directors and CEOs are at the top, followed by CXOs in marketing, risk and compliance," said Monica Agrawal, managing director-financial services, Asia Pacific India lead—board and CEO services, for executive search firm Korn Ferry. The need for marketing leaders who understand how to build brands with younger clientele is very high amongst fintech firms, she added.
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