Dive Brief:
- Amid a frenzied hiring market, organizations sought more leadership candidates in 2021, according to an analysis of job postings by London-based data analytics and consulting firm GlobalData.
- GlobalData examined new "CXO" job listings, which encompass a broad category of executive roles ranging from CEO and chief human resources officer to chief financial officer, chief technology officer and chief accounting officer, among others. Overall, 2021 marked a 35% increase in the number of new CXO job listings from 2020.
- CTO job listings were particularly prominent, a trend that may be related to increasing digitization and use of direct-to-consumer strategies last year, Ajay Thalluri, business fundamentals analyst at GlobalData, said in a statement. The company found that about half of 2021's CXO listings were for CFOs and chief operating officers.
Dive Insight:
Talent demand has exploded during the past 12 months and the C-suite is no exception to the trend.
Hiring for HR roles led nearly all sectors between Feb. 1, 2020, and Sept. 24, 2021, according to data from Indeed, which may show the multitude of functions HR has performed since the pandemic began, sources previously told HR Dive.
The nature of these jobs also has changed. Data analysis from career site Ladders found that jobs paying more than $100,000 annually moved increasingly to remote status during the pandemic, and the company projected that a quarter or more of high-paying jobs would be remote by the end of this year.
Other observers note that leadership roles were filled by diverse hires in 2021. A survey of Fortune 500 and S&P 500 companies by Crist | Kolder Associates showed the percentage of female CEOs and CFOs hit an all-time high in 2021, while the number of Black CFOs increased from 12 in 2020 to 20 in 2021, CFO Dive reported.
But HR teams can implement a range of strategies to improve diversity in executive searches such as formalizing the process, expanding recruiting networks and improving internal mobility for underrepresented talent.
Diversity, equity and inclusion have also emerged as key evaluation points for leadership candidates. Previously, large employers have gone as far as to make DEI metrics a part of compensation for members of the C-suite.
