2020 is shaping as a watershed for the executive search industry, but perhaps more importantly, if we look at likely partnerships between executive search professionals and employer organisations, many of these challenges are certain to be shared.
1. The Talent Shortage
The talent shortage remains a factor in most developed economies. There are a couple of dimensions to this. First of all, the baby boomer generation is nearing the end of its working life and the reality is that Generations X and Y just don’t have the same numbers. The issue is more that there may not be enough talent to go around. The second challenge is that baby boomers have had a balance of good times and bad times management experience. The suddenness, and brutality of the 2008 financial crisis meant that executives at the time hardly had the chance to learn how to manage through the recessionary cycle as change happened so devastatingly quickly. Finding the right talent, with the right experience will be a real challenge.
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