This article, published by Doing Business, provides an insightful look into the current state and future of the executive search industry in Romania and a comprehensive overview of the challenges and opportunities in the executive search sector, as discussed by Ana Ber, Managing Director of Pendl & Piswanger InterSearch Romania.

Amid global economic challenges like inflation, a potential recession, and geopolitical tensions, the executive search sector is evolving to adapt strategically. Ana Ber highlights the necessity of shifting from merely filling positions to strategically attracting and retaining the right talent, emphasizing the importance of data-driven marketing, employer branding, and talent development.

The conversation covers the impact of macro-environment factors on the labor market, particularly for top executives and high skilled professionals. And Ber notes the increased demand for leaders with expertise in AI, blockchain, AR, VR, and sustainable practices, advocating for a broader talent search beyond traditional pools. She also touches upon the recent trend of a candidate-driven market, where top-tier candidates have higher expectations, leading to prolonged hiring processes and the rising need for interim managers.

The article also addresses the challenge of “quiet quitting” and “quiet ambition” emphasizing the need for leadership to adapt and focus on soft skills like adaptability and resilience. The rise in Executive Onboarding and Interim Management services in 2023 is also discussed, reflecting the changing needs of businesses and executives.

In 2023, the market saw a shift towards candidates having more power, leading to changes in what companies seek in top executives. Pendl & Piswanger has adapted by building deeper relationships with candidates, understanding their career aspirations, and presenting aligned opportunities.

Looking at the Romanian market, Ana Ber anticipates challenges and opportunities in 2024 due to new fiscal laws, advising vigilance and agility. Finally, she emphasizes the need for organizations to be proactive and innovative in their talent management strategies, advocating for a strategic and personalized approach in executive search and interim management. As a closing message, Ana Ber emphasizes the importance of strategic and cultural alignment in recruitment, and encourages leaders to prepare for economic downturns, develop middle management, and diversify talent pools to navigate the complex business landscape effectively.