Recruiters have an insider’s perspective on where their industries are headed based on executive hiring trends and role expectations. To tap into that insight, we gathered a global focus group of True partners from across industries. They reflect on 2022 and place their bets on what 2023 will look like for executive talent.
Jessica Johnson (USA)
(Healthcare) “We will continue to see steady growth and investment in new technologies and companies that are transforming an inefficient industry. We will also see new models of care developed through strategic M&A as well as new entrants that are focused on bringing more equitable care to the consumer and creating greater access and affordability of care.”
Austin Krissoff (USA)
(Cybersecurity) “We’re seeing strong investment in cybersecurity and anticipate this to continue in 2023. What’s changing is where the investments are happening: early stage is frothy, as are “take privates” and general private equity consolidation. With the IPO door closed for now, growth financing will be quieter.”
John McInerney (USA)
(Climate Tech) “The Inflation Reduction Act, which invests $369 billion in U.S. energy, security and climate change programs over 10 years, should create opportunities for growth for our clients. We anticipate an increase of up to 30% in their need for executive leadership.”
Jen Ringoen (USA)
(Web3) “Investment in early-stage VC will remain strong, particularly within blockchain infrastructure. Large consumer brands will continue to invest in Web3 technology as they seek innovative ways to interact with customers. The FTX scandal will lead to acceleration of regulation in Washington, which will ultimately advance legitimization of the sector.”
Nathalie Spree (MENA)
(FinTech) “The fintech industry is expected to grow significantly in MENA in 2023 due to the high percentage of the unbanked across the region, the lack of established financial institutions, coupled with government support and regulations that support fintechs.”
Hayes McCarthy (USA)
(Games, Entertainment, Media & Sports) “In 2022, we saw companies adding leadership roles to develop and drive their Web3 and metaverse strategy. Brand collaborations across categories will continue to be hot as they scale audiences massively. And the sports industry has great momentum as the gamification and consumption of sports content continues to rise.”
Michael Heinemeier (APAC)
(Enterprise software) “Venture investment in enterprise technology firms in Asia has already reached 60% of the total U.S. market in dollar terms, with India leading the way. This money is being used to fund global expansion to the U.S. as the primary market, followed by South East Asia. I forsee significant growth of enterprise investments both in volume and value for India and Singapore.”
Alan Cork (USA)
(Food Tech) “We’ll see consolidation in high-growth areas of food tech (vertical farms, alt proteins and agtech) driven by tighter funding and too many players. However, strong concepts will continue to grow and secure funding.”
Agata de Reyes (USA)
(Consumer) “While there will be more talent on the market it will be more important than ever to select and land the very best, as many companies won’t have much room for error. As such, we’re likely to see more thorough and extensive interviews and references, leading to longer hiring processes. Small and earlier stage companies will finally be able to afford great talent and won’t be repeatedly priced out of the market by cash rich companies.”
Gina Barge (USA)
(Go-To-Market) “Investor clients will be more discerning when selecting talent for portfolio companies. There will be an increased focus on executives with proven performance histories, and pronounced track records of achieving growth goals despite economic turbulence. Publicly-traded clients will be similarly focused on strategic hires. Candidates for public company roles will continue to be skeptical about falling stock prices, although savvy candidates might use this dip to leverage higher initial equity compensation at present value, which could prove fruitful when the market corrects.”
Juan Dominguez (LATAM)
(Consumer and Enterprise) “We expect significant demand in Latin America for talent at growing, tech-based companies particularly for the CTO, COO and CHRO role. Many mainstream consumer and enterprise business will need support as they build out their digital capabilities. Larger, more established companies will look to startup talent for their experience with transformational technologies.”
Rafe Jackson (EMEA / APAC)
(Climate Tech) “A lot of climate tech founders have PhDs in their fields but have not scaled a business, and, indeed, it is not their passion. A lot of hires will be either COO or president roles that will take over the mantle in 6-12 months to allow the founder to focus on technology or product.”
Peterson Loftin (USA)
(Enterprise software) “The structural forces that created the tech-led economy we’ve come to know will continue. Enterprise demand for technology solutions that increase productivity will remain strong, which will result in a resilient labor market for talent in the industry.”
Vijesh Patel (EMEA)
(Legal) “Organizations will go to where the very best legal talent is, agnostic to location. At the start of 2022, clients were happy to consider step up candidates. That sentiment turned 180 degrees by the summer. Tried and tested is the theme of the day and the coming year.”
Keri Gavin (USA)
(Diversity) “Companies have been able to hire their way out of problems the last two years, but as the market softens, they’ll have to change their strategy and double down on developing talent. The conversation will turn towards, ‘How do we advance and accelerate our underrepresented talent? And how do we invest in these communities and prepare future leaders?’”