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While remuneration is seen as an important factor when executive talent across markets seek jobs, the job role itself is still considered the most important factor in their decision.
This was a key finding in Boyden’s latest Global Business Confidence Index, which surveyed 87 internal stakeholders within the company globally on the changes they’ve seen in the talent market in the past year, and their predictions for the 12 months ahead.
According to the survey, 80% of candidates selecting an organisation to join considered the job role as the most important deciding factor, while 64% placed the highest emphasis on remuneration.
At the same time, slightly less than half (47%) saw company values as most important; while 42% placed more weight on the company brand, and the same percentage prioritised the location.
On the other hand, just 13% decided mostly based on job title, while a lower 11% looked at the sector.
Note: respondents were allowed to select multiple answers.
Outlook on demand and availability of executive talent in the past 12 months
When it comes to the demand for executive talent today, a ‘significantly’ higher number of respondents have seen an increase (40%) as compared to 25% who have seen a decrease over the past 12 months.
However, a little over half (55%) of respondents across markets believed there will be no change in demand over the next 12 months. As for the remaining respondents (45%), twice the number of them predicted a decrease, versus those who predicted an increase.
Specifically in APAC, half of the respondents there predicted no change in demand, while 36% predicted a decline in the future. Comparatively, 62% of North American and 40% of South American respondents foresaw a slight increase or no change (33% and 60% respectively).
The impact of global mobility on candidates’ decisions
According to 34% of respondents, candidates now are more open to working overseas than they were 12 months ago.
Within APAC, 64% of respondents saw no change in candidates’ desire to work abroad, versus 61% in Europe and 67% in the United States.
While this is so, having the chance at global experience and exposure could be considered a major reason for candidates’ openness to relocating, which presents more options for HR and employers in their retention strategies.
Sectors with the most growth potential
Per the findings, 85% of respondents across markets have identified the technology sector as the one with the most growth potential, with the industrial sector not too far behind (68%).
Additionally, the professional services sector was seen to have the third largest growth potential (39%), followed by life sciences (37%), consumer (32%), financial services (21%), and social impact (18%).
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