Naina Lal Kidwai, chairperson of Rothschild & Co, who is also on the board of directors of Biocon and UPL, said one of the big factors fuelling this change is ESG reporting. Companies, especially the larger ones, are seeking ratings from global firms like Moodys where one of the questions being asked is around diversity and inclusion. Indian companies also need to disclose Business Responsibility and Sustainability reporting besides adhering to integrated reporting where ESG etc, is being integrated into annual reports.
women leaders: India Inc placing rising emphasis on gender diversity in top roles indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
Growing at 15-20% year-on-year, Indias retained executive search market has a mix of global search majors, search network firms, mixed model firms, boutique players and even one/two person outfits. Globally, five firms – Spencer Stuart, Heidrick & Struggles, Russell Reynolds, Egon Zehnder and Korn Ferry collectively called SHREK – dominate the executive search space. In India too, their market share is over 50%, say industry insiders.
Salary offers for IT professionals have dropped 30-40% due to global macroeconomic headwinds and IT sector slowdown. Big tech companies rationalized their workforce, leading to lower pay packets. Early-stage startups are hiring CXOs and senior tech talent at realistic salaries, including variables in the compensation. Michael Page India is helping startups, including an edtech firm, with tech hiring.