hr.economictimes.indiatimes.com | www.ETHRWorld.com
Mumbai: CEO and CXO searches have gotten unusually longer – sometimes extending up to 6-9 months or more from 3-4 months earlier – as many seasoned pros are dropping off at the fag end of the notice period even after accepting an offer, said at least half a dozen leadership search companies.
This is leaving companies, leadership consultants and even boards in a quandary as the time taken to fill a CEO/CXO vacancy – from the start of a search process till the person joins the new company – has extended more than ever before, said people linked to C-suite searches.
“Sometimes there is radio silence at the very last minute. Earlier this was a challenge in the middle management level searches but now it is common at the C-suite level,” said Jyoti Bowen Nath, managing partner at Claricent Partners.
“Even if we have a backup candidate it pushes the search process by another 2-3 months,” added Nath, who had four C-suite candidates who reneged at the last moment.
“Just compensation conversations are taking a month sometimes versus 1-2 weeks taken earlier,” said R Suresh, managing director of Insist Consulting. “Discussing a compensation package involves a lot of posturing from senior candidates – going…
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