It is important for companies to have strong leadership to stay on top of their game.
Karla Dorsch, managing partner at NGS Global, says despite economic challenges and the threat of a prolonged global recession, hiring for executive talent remains very strong.
The company says it has detected a small demand slowdown in the business-to-consumer (B2C) market for senior leaders, but the business-to-business (B2B) market is as strong as ever. The majority see this as continuing throughout next year.
“Clients are and will continue to be offensive for the future in 2023,” says Karla. “With so many aspects of the macroeconomy currently uncertain, having the right executive leadership in place is arguably the most critical component of positioning an organisation for success in the future.”
Expectations on executives to increase
Karla explains that challenging operating and commercial conditions forecast for 2023 mean that both the expectations and performance demands on senior leadership will increase.
“The need for executives who can do more with less – in other words, deliver better results per unit of cost – will be paramount next year,” says Soumitra Agarwal, managing partner of NGS Global’s India team.
According to the company, if recessions do hit, the emphasis on executive performance will also shift from sales-led growth to a wider range of priorities, including change management, prudent financial management, best use of resources and, of course, inspirational leadership.