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Today’s leaders want to see faster progress, bigger impact, and a clear link between their performance and rewards. – Symbolic Photo
94% of senior corporate executives in the country are fully ready to look for a new job and change their career.
In fact, the landscape of senior leadership in India is changing rapidly. Executives now want faster career advancement, bigger responsibilities, and opportunities to make their mark. On the other hand, there is immense pressure on companies to retain these top executives. This important disclosure has been made in the ‘Executive Compensation and Talent Trends Report’ of executive search company Page Executive India. According to this study conducted on more than 1,200 C-level officers and top leaders of the country, 63% of the officers are actively searching for a new role. Whereas 41% officers clearly believe that they will not stay in their current post for more than a year.
John Goldstein, Managing Partner, Page Executive India, says that there is no dearth of qualified talent in the Indian market. The real challenge is the speed at which companies develop and retain this talent. Today’s leaders want to see faster progress, bigger impact, and a clear link between their performance and rewards. On the other hand, Artificial Intelligence (AI) has also now become an essential part of the functioning of senior positions. According to the report, 72% of the officers believe that the level of their work has improved significantly due to the use of AI. According to Nilay Khandelwal, senior managing director of Michael Page India and Singapore, the discussion on AI has now moved beyond adoption to accountability. As responsibilities evolve, the biggest priority will be finding, developing and retaining talent that can work effectively with AI.
However, it is no longer easy for companies to retain senior leadership by paying good salaries, as executives are paying more attention to opportunities for promotion and advancement. Along with this, the trend of recruitment based on skills is increasing rapidly in the country.
Salary – For 87% officers, salary is the main basis of satisfaction.
In terms of salary, 65% executives are satisfied with their current package. At the same time, 87% of the officers believe that money is the biggest parameter for job satisfaction. However, it is no longer possible for any company to retain officers for a long time just by giving them better salaries.
– 75% of executives are regularly using AI in their everyday work. A similar number of officers have registered a huge increase in their working capacity due to this. He said that the standard of their work has improved significantly with the use of AI.
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