Like almost every other major sector at the moment, there isa battle on for executive level talent within the TMT (technology, media and telecoms) arena. Employers of all sizes are competing for a shrinking pool of talent, that wasn’t particularly large to begin with. But if you operate in these industries, where do you source senior specialists from and how do you go about attracting them to your business?
It should be said that while demand is spread across all roles, there are some areas where the war for talent is particularly heated. Product and fixed connectivity executives as well as specialists in connected devices are especially sought after at the moment, although not quite as much as cybersecurity leaders.
Demand areas
Demand for cybersecurity execs is huge, across all areas. We have all seen the impact that major cyber security breaches can have – not only when it comes to a loss of customer trust, but also financially. Cybersecurity breaches are set to cost the global economy $10.5tn annually within the next three years. It is really not an area you want to underinvest in. Cybersecurity is a particularly challenging market as a result of a major lack of diversity and simply from a smaller quantum of candidates than many other fields.
This issue of diversity is something that we are seeing more employers address across the board when searching for senior talent. With businesses recognising the value of a diverse workforce, more are looking at how they can be more inclusive to attract executives from a broader demographic, including neurodiverse individuals.
Think laterally
TMT employers are also looking to alternative sectors and industries to source senior level talent. While it is still possible to lure people from rival software or media firms, organisations seeking their next senior specialist are now looking more laterally. One leading employer in the TMT sector that we have worked with, sourced an executive level expert in their vertical market operating in education, and worked with them to make the transition back to industry after a significant period of time out of the field. Your rival firms are probably taking this course of action and, ultimately, it is no longer enough just to recruit from your sector anymore.
Another way in which organisations seeking executive TMT talent are casting the net further is geographically. We all know that Silicon Valley, and more broadly, the US, is the number one breeding ground for experts in this field – but there is a reason they all work there. Companies here pay the biggest salaries, offer the best overall employment packages and provide the opportunity to live in California. It is a pretty compelling offer. This means that, unless you can offer shares, big promotions and give strong reasons for executives to swap their Californian winters for European ones, it is unlikely you will be able to get them. Like top football teams sending scouts around the globe, you too need to look globally for your next top talent.
We act on behalf of our clients to search for talent from around the world, and despite Brexit and other challenges, it truly is a global market. Firms in sectors like private equity and finance, for example, have been doing this for a while, but it is a relatively new trend in TMT. We know that cybersecurity leaders can be found in New Zealand, Israel and India, Cloud specialists in Malaysia, China and Iran, while IoT leaders can be recruited from the likes of Oman, Spain and Indonesia. Finding these people can take more time and effort, but it is worth the output if you value finding the right people for your business.
Attracting executive talent
Once you have these people in your sights, getting them to join you is a separate matter. The traditional recruitment process is out; there is no set list of benefits and perks to go to market with, and now employers must find the people they want – wherever they are operating – workout what they like and do not like about their current role and then work with your client to find a solution that works for all parties.
As we said, it is a tough market out there, but there are ways to find TMT executive talent, if you are creative and know where to look. Research Europe has a rigorous research-driven methodology, practiced and refined over 20 years. We combine a variety of research techniques, tools and information sources to gather intelligence on talent. We network enthusiastically across industry and diversity communities. We engage with candidates personally and professionally. And via intelligent qualification, interviewing, referencing and - in some cases – psychometric assessment, we ensure the candidates who will thrive in and enhance your organisation are shortlisted and hired.
If you are struggling to source your next TMT executive, then speak to Research Europe.