In this three-part series, DHR’s Global Technology Leaders located across the Asia Pacific (APAC), Europe and North America speak to the trends business leaders need to know and what they mean from a talent perspective, including attracting and retaining top talent.
In Part 1, we covered leadership enhancements at private equity-backed software companies in North America, growing demand for Environmental, Social and Corporate Governance (ESG) revealing a talent shortage in APAC, and payment companies taking the lead in Europe. Read on for the latest insights from our global technology talent advisors:
- North America: Sal DiFranco, Managing Partner, Global Technology
- APAC: Mike Lim, Managing Partner, China
- Europe: Frank Smeekes, Managing Partner, Europe
North America: Growing Demand for Information Technology Officers
What should business leaders know?
“As organizations across industries look to differentiate their business, technology leadership continues to be a key driver. The need for Chief Information Officers and their direct reports remains consistent in the market. Data and analytics continue to be of high importance to organizations looking to understand themselves and their customers, and the ability to make data actionable for an enterprise is at an all-time high. Business leaders are trying to understand how they can unlock value and automation through new tools and technologies such as artificial intelligence (AI) and machine learning capabilities.”
What does this mean for talent?
“Organizations should focus on retaining top talent and providing them with the right opportunities to grow their career. Hiring managers and CIOs also need to make sure they have a solid base of skills in their current organization while looking ahead to the future. This means continuing to develop existing talent and/or bringing in new talent as the technology landscape continues to evolve, especially in trending areas such as AI.”
Sal DiFranco
Managing Partner, Global Technology
Sal serves as Managing Partner of the Global Technology and Technology Officer Practices specializing in cloud, digital transformation, IoT, data & analytics and software & applications including SaaS. He specializes in C-level technology searches across all practices, with a focus on industrial technology, fintech, healthcare IT, consumer & retail and professional services.
APAC: Blockchain/Crypto Increasingly Embedded Across Sectors
What should business leaders know?
“Traceability and provenance are becoming more important. Whether it’s in banking and finance, food safety, or NFTs in the art world, blockchain technology will find itself embedded into more areas than we can currently imagine.”
What does this mean for talent?
“Talent is in short supply, and demand is very competitive in this domain. During our projects, we’re finding that the talent pool is very distributed across core technology companies, technology solution providers and the companies that are adopting/implementing the technology. This means that employers will need to take a proactive, broad-market approach to hiring for these skills externally, as well as provide resources and training to their existing team members to build these skills internally. Partnering with top-tier universities is one way that organizations can attract, retain and grow this hard-to-find talent.”
Mike Lim
Managing Partner, China
Mike serves as Managing Partner of China and Leader of the Professional Services & Technology Practice for Asia Pacific. He is based in the firm’s Beijing office and a member of the APAC Executive Committee.
Europe: Growth Trajectory of ESG Investing
What should business leaders know?
“ESG investing is projected to maintain its robust growth trajectory in 2023. The growing demand for sustainability in business is being driven by corporate decision-makers beginning to recognize the business benefits of sustainability practices, attributed to heightened awareness of sustainability issues and rising investor demand. Companies are responding by implementing ESG strategies and reporting practices to attract investment and improve their sustainability credentials. Key ESG trends for 2023 include an increased focus on social factors, such as diversity and inclusion, and stronger alignment with the United Nations’ Sustainable Development Goals. The growth of ESG investing is also expected to stimulate demand for ESG-related data and analytics, fostering further innovation in this area. As ESG gains momentum, it is becoming a crucial consideration for both companies and investors.”
What does this mean for talent?
“Companies should integrate ESG principles into their overall business strategy, including developing a clear ESG framework, setting goals and targets, and aligning these goals with the company’s mission and values. Communicating the company’s commitment to ESG will attract talent that shares similar values and aspirations. Leaders in Europe will look for companies to demonstrate their ESG commitment in several ways, including reporting/transparency, a purpose-driven culture and ESG skills development. Candidates increasingly value transparency and desire to work for organizations that are open about their ESG practices in addition to creating a purpose-driven culture tied to a positive impact on society and the environment. As ESG expertise is increasingly valuable in the job market, companies should invest in training and development programs to enhance their employees’ ESG knowledge and skills as another way to attract and retain talent.”
European Executive Pay Tied to ESG
Linking performance evaluations and rewards to ESG goals reinforces their importance and motivates employees. A PWC study, Paying for Net Zero, found that almost 80% of major European companies are linking executive pay to ESG metrics. France and Germany now have the highest prevalence of ESG metrics across the region, with 100% and 98% of companies in their top index using ESG metrics overall.
Frank Smeekes
Managing Partner, Europe
Based in Amsterdam, Frank serves as a Managing Partner in Europe and is a member of the board of directors. His assignments are mostly in the technology, professional services and industrial spaces.
Global Talent Insights to Help You Advance
Watch for Part Three, the final article in our Technology Trends and Talent Takeaways series, for an insider’s look at the key trends happening around the globe and their talent implications. We’ll be covering innovation and disruption in healthcare in North America, Artificial Intelligence (AI) in the production and monetization space in APAC, and Software as a Service (SaaS) trends in Europe. As talent advisors, our global technology consultants continue to provide insights for leaders to move forward in this ever-changing environment.
Contact us to discuss how any of these trends are affecting your business and our recommendations for engaging top technology talent in 2023.