“The Association of Executive Search Consultants is the global standard bearer for our profession. Membership requires evidence of meeting strict ethical and operational criteria. Sheffield has been an active member for many years. AESC conducts annual research to inform high quality service to clients and candidates. The results of the latest global survey reflect an extremely dynamic employment environment and expertly guides workforce planning.“ - Ian Taylor, Managing Director, North Island
AESC has recently released the findings of their triennial survey. It provides a valuable insight on the views of executives worldwide and emerging trends. In this article, we are highlighting why top talent stay, why they leave, and what you can do to retain them.
Top challenge for companies to retaining talent: Compensation
For companies, compensation is the top challenge for retaining talent. Opportunities including growth and incentives also appear high on the list.
Why candidates leave: Dissatisfaction with leadership
Interestingly for many candidates, dissatisfaction with leadership is a top reason why talent leaves a role. This is followed by poor company values, opportunities and purpose. This feedback is a good opportunity for organisation to bridge the gap between expectations.
Top approach to talent development: Internal assessment
Scarcity in finding talent drove leaders to be more intentional in developing their own talent pipelines. When asked, “How is your organization developing future leaders,” respondents chose “Assessing Internal Talent” ahead of the second-place option, succession planning. By identifying a diverse group of future leaders and including them in an overall succession planning strategy, organisations can address key talent issues earlier.
Top driver for new leaders: New skills and capabilities for leadership roles
Changing requirements for leadership roles is putting increased pressure on an already high demand for leadership talent. Changing needs lead to the desire for new skills and expanding capabilities in Boards, C-suites and leadership teams worldwide.
How Sheffield can support your organisation
From changing expectations to leadership assessments, our full-service offering ensures you reach your business goals.
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About the survey
“Every three years, AESC conducts a benchmark survey to gather the views of executives worldwide on the value the executive search and leadership consulting profession provides on critical talent challenges. The survey also allows us to identify trends and emerging issues that are front-of mind from a broad range of industries and geographies.” - Karen Greenbaum, AESC President & CEO