Technology sector scouts for senior talent

By: |
November 17, 2021 2:05 AM

Tech start-ups accounted for 45% of the moves, while IT services emerged second with 32% of the moves. Tech products sector added 5%, while senior tech movements in consulting sector contributed 3%, followed by GICs at 2% of moves.

Xpheno mapped and analysed the movement of 300 CXOs on enterprise and personal professional demographic dimensions.Xpheno mapped and analysed the movement of 300 CXOs on enterprise and personal professional demographic dimensions.

Hiring for leadership positions and senior talent in the technology space has gained momentum in the last two years. The start-up ecosystem has been a net gainer of this C-suite talent, which shrugged plum jobs at large enterprises to be part of a more dynamic and challenging work culture that is associated with the startup space.

Tech start-ups accounted for 45% of the moves, while IT services emerged second with 32% of the moves. Tech products sector added 5%, while senior tech movements in consulting sector contributed 3%, followed by GICs at 2% of moves.

With a net gain of 9%, the micro-enterprises cluster has emerged as the top gainer of tech senior suite over the last six months, according to findings done by Bengaluru-based specialist staffing firm Xpheno. The biggest net loser is the large enterprise sector with a 19% gap between exits and absorptions of tech senior suite in the period of study. Also, the startup sector emerged as the net-gainer of tech senior suite movements with an 11% difference between exit and absorption counts.

Siddharth Verma, practice head (direct hire), Xpheno, told FE that the reason for this shift is a “natural monotony”, and limited scope of choices and variation in projects with large enterprises. “A deeper understanding among the senior tech leaders that at a time when space at the top of large pyramids is getting tighter, and it may take longer or rarer to get one’s dues, the plunge is kind of inevitable. This is not to be read as a survival tactic, but also a strategy to stay relevant for longer,” Verma said.

However, tech movements showed a prominent skew in gender representation at the top. Despite various gender diversity interventions by enterprises, women representation at the senior suite in the technology sector seems to have a long-distance to cover. “With just a little over 7% of the moves involving female executives, the tech sector is yet to strike the balance on gender diversity across the organogram,” he said.

In other observations, the tech cohort seems to be managed by a fairly mature senior suite with an average age of 43 years. With 46% of the CXOs falling in the 36 to 45 years bracket, 32% in the 45 to 55 years range and only 12% in the 22 to 35 years bracket. CXOs covered in this study hold an average experience of 20 years.

Xpheno mapped and analysed the movement of 300 CXOs on enterprise and personal professional demographic dimensions. Enterprises dimensions cover aspects of enterprise size, start-up status, industry and role diversity, while personal professional demographics cover experience profiles, stability, tenures and pedigree of qualifications.

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