ReleaseWire Connect

[Trend topics]. Given the unsettled nature of the past couple of years it's even more vital for businesses to be agile and flexible, from leadership, down. Although recovery has been a theme for many in 2022, the reality is that we still don't really know what the coming year is going to hold and being able to be more responsive, resourceful and creative is a huge asset. All of this starts with the quality of leadership - people and attitudes - which is why this year's leadership trends are so important to understand.

Sector coverage is broad and includes a wide range of areas, from private equity, hedge funds, investment banking and retail financial services to healthcare and pharma, professional services, telecoms and technology. As we move into the second quarter of 2022, there are a number of key trends to watch. Proactively engaging candidates early is key among these hiring trends - this is often where headhunting recruitment research can be incredibly useful. Proactive engagement strategies mean first contact comes from the business, which is seeking to start building a relationship with a potential employee as early as possible. Advanced screening tools also represent another recruitment trend for 2022. These are skills tests and behavioural assessments that add so much more insight than simple CV screening and interviews. Offering remote work as a tactic to attract candidates is another powerful hiring trend this year, as is more data-centric recruiting that prioritises data analysis and insights when it comes to candidate selection. Finally, one of the biggest recruitment and hiring trends for 2022 is the increased emphasis on diversity and inclusion, not just as a way to improve the effectiveness of a workforce but as a beacon to attract new candidates too.

From the impact of the pandemic to the ripple effects of changing consumer behaviours, enterprises have had a lot to deal with over the past two years. But what about the focus for HR leaders in 2022 - where do their specific challenges lie this year?

The fintech industry has expanded exponentially in recent years, accelerated by the need for greater digitisation as a result of the pandemic - as well as a general thirst for innovation in fields like payments. In 2022, progress looks set to be positive once again, with growth at an all-time high and rapid expansion across the sector. In terms of investment, fintech deals and dollars hit record levels in 2021 and the market for fintech jobs has exploded. This is driving some key trends in terms of demand for specific skill sets. Top among these is software engineering, thanks to the significant tech needs of the fintech sector.

2022 already presents some key challenges for executives, which is why C-Suite recruitment research is so vital - the right people at leadership level will make all the difference to business outcomes this year. Talent acquisition and retention challenges were identified as some of the most significant areas of focus by almost half of C-Suite executive respondents to one recent survey.

Thanks to the pandemic we have seen a fundamental shift in the way that people want to work. Asset management is an industry that has experienced expansion and prosperity during the pandemic - private capital returned 15.5% in 2020 according to a Deloitte report, and is likely to continue to see positive growth in assets under management in 2022. However, to a certain extent this ongoing growth is going to rely on how willing organisations in the industry are to evolve and adapt the way asset managers work going forward. In particular, there is the need for a focus on more flexibility, such as robust working-from-home policies, as well as the infrastructure to support this. More training and development have also become a priority for those working in asset management and strategies to communicate values will be key to staff engagement. As for many enterprises today, asset management firms also need to have a clear focus on more diversity and robust policies and strategies to make this happen.

Since the impact of the pandemic has begun to ease somewhat, confidence levels have started to rise. Typical operating conditions are returning for many organisations, with others going above and beyond pre-pandemic levels thanks to innovation in services, infrastructure and delivery driven by recent change. However, there is still plenty to keep CFOs up at night in 2022, with supply chain disruption remaining high up the list. Supply chain issues are forecast to continue throughout the year and only 10% of CFOs expect problems to be resolved imminently. Small enterprises tend to feel more powerless - waiting for problems to be handled elsewhere - while larger businesses are taking steps to insulate against supply chain delays, such as reconfiguring supply chains or holding more stock. In addition, there are plenty of other issues weighing heavy on the minds of CFOs this year, including the need for greater automation and digital transformation. Two of the most pressing areas demanding attention of strategic leadership right now are employee retention and developing a talent pipeline. Addressing these challenges has led to companies trying a range of solutions from greater incentives to more flexible working options.

Key hiring and recruitment trends provide vital insight into where executive recruitment is going in 2022. Executive search and leadership talent specialists Leathwaite are focused on supporting companies in finding future leaders - and using all available tools to help achieve this. This year we're likely to see specificity much more of a priority, with success rates higher thanks to the use of AI, data and analytics and assessment tools. It's going to be key for businesses to start using more tech-driven recruitment tools and to focus on skills-based hiring, where relevant experience is as important as a CV full of skills and qualifications. In an employee's market developing the employee value proposition is a big trend this year, with organisations updating policies, messaging and benefits so that they are reflective of values and priorities. Equally as important will be a focus on diversity, equality and inclusion. Greater leverage for employees also means that they are likely to have much more influence when it comes to salary negotiations.

2022 could be an interesting year for CIOs and IT leaders. Pressures are beginning to bite in terms of talent shortages but there are also a wealth of opportunities thanks to ongoing digital transformation and increasingly innovative technology, such as analytics and AI. CIOs say they are increasingly being positioned to influence the agenda within their organisations, fusing the traditional CIO role with that of a CEO, and sometimes CFO, and taking on challenges relating to productivity and efficiency. Expansion in cloud usage and greater use of data to unlock sustainability have also been identified as key trends for 2022. When it comes to tackling those talent shortages, CIOs predict the most demand in roles relating to information security, analytics, architecture and cloud and engineering. From increasing wages to attract more talent, to streamlining cloud-first and platform-based architectures to adopting low-code/no-code solutions to minimise the need for niche recruiting, there are many responses that businesses could adopt, according to predictions from CIOs and IT leaders.

Executive recruitment has undergone significant shifts over the past couple of years, whether those relate to the pandemic or internal sector change. In particular, a large proportion of executive recruitment now takes place in a virtual environment. While COVID-19 may be largely under control, there are clear benefits to more virtual hiring processes, from cost to convenience and the opportunity to really get to know candidates on a deeper level. Convenience is an especially significant benefit and more virtual interviewing has seen fewer attendance fails at first interviews, as it's much easier to find time in a busy schedule to attend a virtual meeting. The road ahead for executive recruitment is one focused on diversity - and the more virtual nature of hiring today makes it easier to achieve this. There are many tools to help remove inherent biases from the early stages of an interview process when it is virtual, for example, and virtual interviews can be easier to fit around caring or childcare commitments.