Executive Search Market Overview
Following a generally cautious market of 2014, we are pleased to report that 2015 has proven a consistently more encouraging year. This year represents the highest point we have seen since the Financial Crisis; we have noticed a very real and sustained demand for senior talent across most sectors in Ireland.
Looking forward to 2016, executives across all professional services sectors share a positive outlook on the job market for 2016. Professionals feel confident on the whole that opportunities would be available to them should they decide to make a career move, citing that economic growth and confidence generally will enable businesses to develop their executive teams. Our own research indicates that there could be over 20% increase in Executive-Search assignments in 2016 compared to the last year.
While executives feel more confident that, as part of the continued recovery, greater opportunities will be available to them, there is still a cautious approach to pursuing these opportunities. Only 58% of executives surveyed are actively seeking a career move in 2016 with the majority of these citing new growth and development opportunities in their current employer that may satisfy their career development objectives.
However, 28% indicated that while not actively looking, they would consider a move should an appropriate role in a desirable organisation arise.
“This year represents the highest point we have seen since the Financial Crisis; we have noticed a very real and sustained demand for senior talent across most sectors in Ireland.”
Growth Sectors for 2016
According to our research, executives see the following as high growth areas in 2016: Management-Level opportunities, the leading three were Technology, Professional Services (including Financial Services) and Sales and Marketing. Life Sciences also continues to be a strong growth area. From a regional perspective, Dublin and the greater Dublin area will be the location of choice for circa 70% of these roles, with the rest mainly resting in Munster and, to a lesser degree, the other provinces.
Just over half of the executives we surveyed (53%) feel that organisations are nearing the end of restructuring, as is evident in years 2011-2014, and are focusing on consolidation or growth opportunities. This will lead
to increased opportunities, with the leading positions being CEO, CFO and Sales Director roles. However, along with these traditional areas, IT and niche IT areas like Information Security are areas executives feel will deliver senior job opportunities.
From our research, over 63% of organisations feel that they will increase executive salaries and bonuses in 2016, with the variable pay element of a remuneration package firmly back in vogue, while 71% of executives say their companies are focusing more on executive retention now than they did last year.
Predictions for the Future
As companies move towards a scalable, profitable growth trajectory and away from recovery, the Senior Executives they have in place will prove increasingly important. The selection and retention of a CEO, CFO,HR Director or Partner has a profound impact on a company’s strategy, its execution, and, ultimately, its business and financial performance.
As a result, companies require a higher quality of leadership, someone who can rise through this change and work effectively under ever-increasing challenges and pressures. Companies seek executives that are
agile, strategic, entrepreneurial, capable of managing increasing complexities and with international exposure to drive business forward.
For a full list of senior opportunities please click on the following link, if you wish to have a confidential discussion about the market and/or current opportunities available you can contact me on 01-661 0444 or email your CV sdalton@lincoln.ie.
