“Searches are faster and far more challenging given the talent crisis that's going on in the world and specifically in our industry, biotech, and healthcare high tech. But it is kind of universal, and it’s a function of there being not enough qualified candidates out there. I believe the answer is women and Millennials, so a huge and heightened forecast on diversity hiring is really on. We've had, in California, legislation [mandating] women on boards. That has kind of been an offshoot of the diversity movement as well.”
The need for Diversity & Inclusion and the focus on that assumes that there are challenges that the Executive Search industry must currently address. What would you say some of those key critical challenges are?
“I spend a lot of time educating companies on how to attract and retain the skill sets that they want in the context of the talent crisis. A lot of companies don’t know that they’re competing really aggressively for talent and that each individual they're trying to recruit probably has four or five opportunities to consider. One point is that companies need to worry about making themselves attractive and sticky to the talent pools they want.
“The second one is that they need to develop and train people like never before. Historically in the industry, when there were plenty of people to go around, no one needed to really invest in these talent development programs. I harken this back to the Industrial Revolution, where they actually had to train a lot of people to really come up to speed quickly. I think that’s happening again.
“The number one reason people leave their employers is because they don’t see any career progression. You can see that with limited talent pools and people looking for career progression, and you're not having it or a commitment to it, is a big limitation.”