Corporate Ladder: your weekly guide to executive appointments
When I tell people that I recruit executives and board members for a living, they constantly make comments like, “You must be really struggling to find good people because of the labor shortage. of work”. My answer is always the same: “Actually, it depends”.
The suggestion that labor shortages are universal is a myth. At Hender Consulting, we see both feast and famine depending on salary level, discipline and industry. Chronic labor shortages at lower wage levels in organizations are indeed getting worse month by month, which will definitely trigger wage growth. The chilling CPI figure released this month will only exacerbate this dynamic as ASRs are renegotiated in the months and years to come. There are also chronic shortages of many technical skill sets such as clinical health professionals, engineers and ICT specialists and labor challenges faced by the aged care and nursing care sectors. people with disabilities are extremely well documented. These are some of the famines.
Ironically, at higher salary levels, the fields for many senior executive positions we recruit are impressive due to the influx of exceptional executives targeting the best city in the world to live. We now regularly host speed meetings with a dozen high-level candidates for CEO and C Suite positions, where our clients literally have too many choices and want to respect the depth and breadth of the field by meeting longer lists .
Virtually every shortlist in recent times has someone who has earned significantly more before. In this pocket of the market, the overqualified continue to be the new qualified.
Areas for board member roles are also generally outstanding with a strong supply of highly accomplished professionals exploring governance opportunities. This is even true for the volunteer roles of boards of directors in our recent experience. These are some of the parties.
The combination of feasts and famines has created unprecedented earnings dynamics. On the contrary, salary pressure for roles paid above $200,000 is actually on the decline and lower salary increases in the org charts are accelerating. It is therefore essential for business leaders to understand in which part of the market they are playing. It also makes attempts and commitments to achieve parity between different disciplines at the same level of management both unwise and unachievable.
Power therefore oscillates between the employer and the employee.