Executive Search in India – 2019 Outlook

Robust GDP growth to continue in 2019

Despite 2018 being filled with external vulnerabilities arising out of higher oil prices, trade wars between major global trading partners and US monetary tightening, India shined as the world’s fastest growing major economy in 2018.

Better demand conditions, settled GST implementation, capacity expansion resulting from growing investments in infrastructure, continuing positive effects of the reform policies undertaken and improved credit off-take will sustain robust GDP growth in the range of 7- 7.5 per cent in 2019.

Drivers for growth

According to a CII report, there are seven key drivers for growth including GST, Insolvency and Bankruptcy Code, ease of doing business, agriculture, credit flow, oil price and infrastructure.

Emerging Trends- Executive Jobs and Leadership

Alongside India’s emergence as a dominant economic force, the world around us is undergoing significant change as well.  India ranks in the top three markets for executive job growth for 2019, along with the US and China.

When it comes to which business sectors will witness the most growth in India, technology, digital, financial services, consumer, healthcare and life sciences, clean energy, Electric Vehicles and industrial/manufacturing top the list. The most in-demand executive functions are expected to be that of the CEO/ Board of Directors, followed by CIO/CTO/CDO, Cyber Security, chief Sustainability officer, and CFO.

As adoption of Industry 4.0 gathers momentum, experts in AI, cryptocurrency, blockchain and cybersecurity – all Industry 4.0 enabling technologies – are among the hottest, in-demand fintech skills. Within the industrial and manufacturing/engineering sectors, skills across all disciplines will be needed to design, build, troubleshoot and maintain Industry 4.0 technologies. But the skills and workforce you require to fulfill your staffing needs will shift as new technology is adopted.

The top attributes needed in the executive job market will be leadership skills, being an agile and adaptable leader, being highly networked, and really focusing on innovation. Meanwhile, in terms of leadership attributes, top leaders need to have emotional intelligence, adaptability, strategic thinking, and an ability to drive collaboration, and be focused on learning and innovation.

Contact Vijay Karkare for further discussion; vijay-karkare@cornerstone-group.com