Month: June 2023

Rcently interviewed by INAC Brazil on their series “Headhunter”, INAC Germany’s partner, Cedric Schütz, talked about the market and the relationship of executive selections within the Brazilian market.

Which industry-sectors are growing the strongest in Germany and which positions are currently in particularly high demand?

Germany is experiencing significant growth in sectors such as Chemistry/Pharma, Renewable Energy, Sustainable Mobility, E-Commerce, and Fintech. These industries contribute to economic development and innovation. German pharmaceutical companies are renowned for their research and development, while the country leads the global transition to renewable energy sources. Sustainable mobility solutions, such as electric vehicles, are actively promoted, and Germany has seen substantial growth in e-commerce, with a strong logistics infrastructure. The Fintech sector has also experienced remarkable growth, attracting international investments and positioning Germany as a hub for innovation. These sectors drive economic growth and address global challenges, shaping Germany’s future.
In these expanding sectors, there is a high demand for professionals with expertise in various areas. Research and development, engineering, digital marketing, data analytics, and specialized knowledge related to each sector are particularly sought after. In Renewable Energy, professionals specializing in energy storage technologies, grid integration, and smart grid management are needed. Sustainable Mobility requires engineers specializing in electric vehicle design, battery technology, and charging infrastructure. Professionals experienced in sustainable supply chain management and logistics are also in demand. In the Chemistry/Pharma sector, skilled technicians and engineers specialized in pharmaceutical manufacturing processes and quality control or regulatory are essential. These sectors offer exciting opportunities for individuals with diverse skill sets to contribute to Germany’s growth and innovation.

Do your clients open opportunities to executives from South America, especially Brazil?

Yes, absolutely! In recent years, German companies and clients have shown openness to attracting talents and executives from South America. Especially Brazil plays an important role within. The cultural similarities between Germany and Brazil make it easier for professionals to integrate into German organizations. This exchange benefits both parties, with German companies gaining new perspectives and market knowledge while Brazilian professionals gain international experience and career growth opportunities. The collaboration fosters innovation and market expansion. The ongoing partnership between Germany and Brazil exemplifies the global nature of talent acquisition and the potential for mutually beneficial relationships in today’s interconnected world. Our clients value the diverse perspectives and experiences that executives bring along and actively promote an inclusive culture that values different backgrounds and viewpoints. This enables executives to feel valued and empowered to contribute their unique expertise to drive business growth.

What characteristics and qualities do managers from Brazil have to bring with them in order to be successful in Germany?

Managers from Brazil who aspire to succeed in Germany should possess specific qualities to adapt to the German business environment and effectively lead their teams. From my perspective there are crucial characteristics and traits for being successful: Being open-minded, flexible, and understanding German cultural nuances, such as hierarchy and punctuality. In terms of leadership skills, one should emphasize collaboration, empowerment, and accountability to inspire and motivate teams, build relationships, and foster a positive work culture. Problem-solving and decision-making abilities as well as an adaptability to change are also crucial factors. Being resilient, open to new ideas, receptive to feedback, and quickly adapting strategies to meet evolving market demands are on the course! By embodying all these qualities, related to a great business acumen, it makes it more likely for foreign executives to enhance their chances of success in Germany.

As a headhunter, what advice would you give to a Brazilian executive within the recruitment process?

As a German headhunter, there are some recommendations I would make. First of all, familiarize yourself with the specific dynamics and requirements of the German job market. Research the industries and companies that interest you and gain insights into their expectations and hiring practices. Based on that research adapt and tailor your resume (no cover letter needed) to align with the German business context. Highlight your relevant skills and achievements that are applicable to the positions you are targeting. While English proficiency is essential, consider investing some time in learning basic German words as “Guten Tag” or “Vielen Dank” and use it as an “Ice-Breaker” 😉. Demonstrating language skills can significantly enhance your chances of success and show your commitment and interest of the local conditions. During an interview with HR or Hiring Managers you shout focus and emphasize the value of your international experience and highlight how your background can bring a unique perspective and value to the company’s success in a globalized business environment. Prepare examples of how you have successfully addressed challenges or achieved results in previous roles. But not only address challenges, also talk about daily situations from your everyday life as a manager. Emphasizing collaboration, empowerment, and effective team management and to demonstrate your ability to work well in diverse teams and foster a positive work culture is crucial. Highlight your commitment to continuous learning and professional development. If needed discuss relevant trainings, certifications, or courses you have completed to enhance your skills and stay updated in your field but always keep an eye on your interview partner. Intermediate questions such as “Should I elaborate on this” or “Do you need more information on this training/activity” are welcome.

At the end it is all about patience and persistence. Don’t be disappointed if the recruitment process takes time. Stay positive, maintain a proactive approach, and pursuing your career goals.

Augmented Reality (AR) and Virtual Reality (VR) technologies are revolutionizing the business world. In recent years, AR and VR have become increasingly popular, with widespread use in numerous industries. These technologies have the potential to disrupt the business landscape, change how people work, and provide unique business opportunities. AR and VR are expected to have a significant impact on executive search by enabling the delivery of in-depth candidate insights and facilitating remote interviews with global talent. This essay will explore the possibilities and implications of AR and VR technologies for business and executive search.

AR and VR Technologies

AR and VR are technology-based systems that create simulated environments. AR overlays digital information onto reality, providing an enhanced version of the real world. In contrast, VR creates an entirely artificial experience that can be immersive and interactive. Both technologies offer new ways for businesses to communicate and interact with their target audience.

Business Opportunities

AR and VR technologies have numerous business applications. The ability to create interactive and immersive experiences can help businesses to engage with their customers and enhance brand loyalty. Retail companies have already begun to use AR to help customers virtually try out clothing and for home furnishing, allowing them to envision items in their space. Companies can also use these technologies to train employees, thereby reducing costs and improving productivity.

In executive search, AR and VR can be utilized in various ways to improve hiring processes, such as virtual interviews. These technologies can enable businesses to engage with talent from across the globe easily. AR and VR can improve selection techniques by providing access to detailed insights into candidate performance, capabilities, and experience. Additionally, it provides candidate assessment beyond the traditional paper application or online CVs. AR and VR can provide recruiters the opportunity of better candidate fitment for specific cultures, hiring teams and business needs.

Moreover, AR and VR can help organizations attract the best talent. Potential employees are more likely to accept a role if they feel connected and engaged with the company’s culture. AR and VR technologies can create a realistic and engaging portrayal of the working environment, helping potential candidates understand what it is like to work at a particular company. By providing insight on company values, work style, and leadership teams, AR and VR can help businesses attract candidates that better align with their values.

Impact on the Executive Search Business

AR and VR technologies are disruptive and can transform the executive search sector. The real-time data feedback and candidate insights that AR and VR offers are of immeasurable benefit to those looking to recruit the best talents. This advantage is not limited to companies that make use of the technology. Recruiters can learn a lot about candidates from how they interact with systems during an AR/VR interview. This offers a unique interview experience that can provide valuable insights into a candidate’s mindset and how they handle complex and challenging situations.

AR and VR are cost-effective technologies that can reduce the overall cost of the search process, making it more accessible to organizations of all sizes. Additionally, they provide flexibility for remote working; thus, the technology is essential for companies looking to increase flexibility and reduce costs through remote interviewing.

However, the emergence of AR and VR technologies will require significant investment in training and skill development, specifically for recruiters. Recruiters need to be trained and equipped with the skills necessary to use AR and VR technologies competently and effectively. Additionally, the use of AR and VR in executive search may require a re-alignment of company and recruiter values towards a more technological focus to benefit from employing the technology effectively.

Conclusion

AR and VR technologies represent a new frontier for businesses spanning many industries. Both of them offer business opportunities and superior insights into the search for candidates. The recruitment process is evolving and the implementation of AR and VR technologies can improve the journey significantly. AR and VR technologies have undeniably opened up new possibilities for remote interview processes and hiring techniques, facilitating access to global talent and enabling effective virtual access to the best talents at affordable costs. However, the success of AR/VR technologies in executive search highly depends on realigning certain values and investments in the necessary training for recruiters. Therefore, organizations must understand the potential of AR and VR technologies and invest appropriately to reap the benefits of modern, cutting-edge recruitment processes.

Article by:
Morten Tange – INAC Denmark
Mariana Turanova – INAC Slovakia
Géraldine de Spéville  – INAC France
Kirsten Parus – INAC USA

Klemens Wersonig, partner of INAC Slovakia was recently interviewed by “The Slovak Spektator”, where he spoke about the impacts of the pandemic, AI and the differences between Slovak and foreign managers when searching for the ideal candidate.

Finding candidates takes longer, with fewer available.

Society in general must become more flexible, given the shortage of talents the world is facing, says Klemens Wersonig, CEO of Target Executive Search CEE, referring both to the age of potential candidates and their plans to remain with one company.

“We recently placed a lady over 60 into a top managerial position. A few years ago, this would have been impossible,” said Wersonig, welcoming this flexibility. “These trends will continue.”

Accepting candidates of higher ages should no longer be an issue. Another topic concerning flexibility is loyalty within companies. While 10 years ago Target’s clients looked to hire somebody who would stay at least five years, following the pandemic and subsequent crises they are satisfied if somebody says they will stay for two years.

The Slovak Spectator spoke with Wersonig about the impacts of the Covid pandemic on headhunting, differences between Slovak and foreign managers, as well as what tasks artificial intelligence can perform in filling positions.

What are the main differences between a recruitment agency and an executive search firm?

I would call it the social media trap. This means that recruitment companies are relying on social media only. This means that they reach only people who can be found on LinkedIn or Facebook. Headhunting companies typically go beyond that. They aim to identify people who are maybe too busy to be active on social media. For example, I know some managers who could be candidates for possible positions and they say that they check LinkedIn maybe once per quarter because they are just too busy.

Which assignments are suitable for a recruitment agency and which are better performed by an executive search firm?

The general trend is that executive search firms are going down to lower levels in the market and they are looking for positions and projects which they would not have looked at five years ago. The reason is that the qualified labour force became so scarce on all levels. Companies often cannot find an account manager or some specialist just by simply advertising the post, as either no people apply or the wrong people apply. Therefore the trend is that headhunting is needed at lower levels.

What challenge does the shortage of qualified labour on the market pose to headhunters?

It is a big challenge because it means our work has increased dramatically. We need to do much more searching in order to find the same quality of people among the same amount of people. Originally in the classical headhunting world, you did research for one or one and a half months and you came to a shortlist of three to five people. Nowadays we often have to search for two or three months and we are happy if we find two people.

What are the main differences in making an executive search in Slovakia and in other countries where your company operates?

Our company focuses on central and eastern Europe ,while we also have offices in Austria and Germany. And there is not so big a difference between Slovakia and Hungary or the Czech Republic. But with Germany and Austria there are differences. But what is really special in Slovakia is the very limited number of candidates. This is because of the brain drain and also because people over a certain age, nowadays around 55, are often not considered as possible candidates. It used to be basically a European problem that people over 50 were not considered. But this is shifting and many countries have started to change and consider people above 55 or even ask retired people to come back. But this is much less the case in Slovakia.

Why do you think this is so?

I consulted with my Slovak colleagues and they think that basically there is a prejudice – as hiring people are typically west European managers – against people of a certain age as the managers are afraid that older people will carry too much baggage in their minds from communist times.

Do you also fish for successful Slovaks abroad?

This would be an ideal scenario and many of our clients would want that actually. But it is very difficult to reach those people because these communities are difficult to reach. When we talk to these people, usually they have very high expectations in order to return because they would have to give up their well-settled life in Canada or Germany. So, it does not normally work, except for one small segment in the market of Slovaks living abroad: those who actively want to come back for whatever reason; nostalgia or family reasons, etc. These people tend to approach us actively. We have a few such people every month. They are highly qualified and have great market value.

Do you succeed in finding them good jobs?

Yes, definitely.

Are there any differences in managers in Slovakia and abroad in terms of their skills and abilities?

Our company made a study regarding cultural differences a few years ago and this was one of the questions that was raised. The outcome was that team work ability and discipline is very high in Slovakia. Slovak managers are also very well structured and organised and thus have a good image even within the central European community. This is also shown in industry, with so many car manufacturers and suppliers operating in Slovakia. One of the reasons is that Slovaks are high-performing. Another reason is that logistics in Slovakia are very close to western Europe.

What impacts has the pandemic had on headhunting? Will these effects continue?

One major impact was holding video meetings and video interviews. These will continue because they are faster and easier to organise. But they have brought in less commitment. Potential candidates, when approached with an offer, first say that they are interested. Then one week later they change their minds. This is because there was no personal meeting and they feel much less committed. But this is part of the shift in society as a whole. Everything is very fast.

The pandemic brought on a phenomenon known as the Great Resignation in the US, where employees began to voluntarily quit their jobs en masse. Is this phenomenon also occurring in the region of central and eastern Europe or in Slovakia?

Definitely not. The reason why is that people here are fighting much more for their livelihoods. In general, they are poorer, so they need the salary to support the family, to pay their mortgage, they cannot afford to say: I will quit to find fulfilment without a regular income.

This comes back to the differences of Slovak managers. One finding of our study was that there is a lack of entrepreneurial spirit amongst Slovaks. The desire to step out of a safe world with a fixed income into entrepreneurial risks is very low in Slovakia.

What qualities does a headhunter need to be good?

The first quality is listening skills. Listening is very important because we have to listen to, of course, interviews, but also listen to what clients want. A good headhunter must also have a good balance of sales and HR skills. It is also a sales job, which is often forgotten. This is because we have to sell our services to potential new clients, we have to sell the job to the candidate and we have to sell the final candidate to the client. It is not enough just to do a good interview and select a good candidate. But we also have to have this sales transaction.

What conditions must be met for a good match to occur?

Besides objective factors, such as the right experience, language, age, salary and all these criteria, it is needed to get the personal chemistry right between the candidate and the future boss for a really good match. That is the key element. This is why before actually hiring someone the parties have to meet in person. You can have early video interviews for early screening, but there is still a huge difference, and I think it will last, between video and personal interview. This is because when somebody walks into the room, there are so many messages coming: putting the mobile phone on the table, it is almost like showing a power symbol – see I’m here, I can be reached. Even how somebody is sitting at the table, putting the chair back after the meeting or just leaving it there in the corner can tell a lot about the candidate. There are so many details which are not possible to see in a video interview.

What was your best match of a top manager and company in the long term?

There are two, one in Slovakia and one in Hungary. The first one is Andrej Arendáš, managing director at Kärcher Slovakia. Our company placed him in Osram in Slovakia. At that time, he was a young and very promising manager. He stayed with the company for 10 years and even became its general manager. The other one is a manager I placed 25 years ago in one company in Hungary. He has become a European manager and made a wonderful career. He is still with the company.

Do you approach managers you have placed before when you are looking for managers for another client?

Our own placed candidates are off limits as long as they are with the company. It means we do not approach them ever, even if they are a good fit. This is our business approach.

What should headhunters do to avoid a failure in headhunting?

Check and double check. Good references come from previous bosses, not from previous colleagues. When we can reach the previous boss we ask one very easy and immediate key question, whether he or she would hire the person again. If the reference person hesitates a bit, then already we have some doubts.

Have you predicted a good match that in the end was not?

Yes, of course, we also make mistakes. It happens because, despite being careful and checking, we cannot look inside people’s minds. They may be playing a role and cheating us. It has happened to me also, I misjudged people, too.

Which aspect of headhunting can be performed by AI?

Obviously the data screening parts or CVS screening and matching with the job description. But I also see danger here. This is because candidates are using artificial intelligence to apply and get their CV written. On the other hand, another artificial intelligence is checking that CV and application. So, in the end we have two computer systems checking each other. But in general, especially in mass recruitment for workers where no personal meeting is needed, AI plays a huge role for sure.

What should young people with the ambition to become top managers focus on during their studies or the early years of their career?

They should go out into the world to learn languages and experience other cultures and test what they are good at, say through internships or apprenticeships. Jobs can have a good image or even a good salary, but the daily reality of a job might be very different.

Once again, the world faces a quantum leap in historical/global development. In the past, inventions such as the wheel, the light bulb, the steam engine, the atom and, as the last straw, the internet, have moved man to a considerable extent.

And now AI and the possibilities of artificial intelligence, which are currently rolling onto the world’s attention. Because it’s probably not right to call the phenomenon historical right now – over the past few years, AI has slowly “crept in through the back door” and has been used in several commercial contexts to collect knowledge and thus gain access to general human habits, ways of acting, ways of thinking both easily accessible and shareable on a large scale with others in the “public space”.

With the use of AI in the form of e.g. Chatbot GPT will allow humans to access an unimaginably large reservoir of knowledge, statistics and collected information of all imaginable kinds, which via the artificial intelligence is quickly paired and composed into answers and presentations to the user/questioner’s set up and submitted case. In this way, we reach conclusions and solutions to even completely complicated tasks quickly and receive qualified results.

AI, like so many other inventions, can be seen as a double-edged sword – positively as a progress that helps humanity – or negatively as something terrible that contributes to the end of the world – “a monster” that is out of control in the long term will be able to contribute to the downfall of the world and thus of humanity.

Based on the positive angle, we as a group think that we are dealing with a tool that will in many ways save humanity a lot of legwork and groundwork in everything that does not immediately involve physical work and presence.

In our industry, much of the administrative work will become easier (initial search, collection of contact information, preparation of job profile, job description, job advertisement and of course also calendar management and meeting invitations). All time-saving sub-elements – which would like to result in more time for the qualifying part of the process.

General impact of AI in world development:

1. Automation: AI has enabled the automation of many tasks that previously required human effort. This has led to increased productivity and efficiency in various sectors, including manufacturing, healthcare, finance, and transportation.
2. Decision process optimization: AI-based algorithms and machine learning techniques can analyze large amounts of data and extract important insights and patterns. This helps companies and organizations make better and more informed decisions.
3. Improved customer service: AI-based chatbots and virtual assistants can help enhance customer service by providing quick and accurate responses to inquiries. These chatbots can handle a wide range of tasks, including answering questions, providing support, and resolving issues.
4. Personalization: AI can be used to create personalized experiences and tailor products and services to individual needs. This is evident in e-commerce, where recommendation systems use AI to suggest products based on past purchases and preferences.

Impact of AI on the Executive Search industry:

1. Efficient screening and matching: AI can assist in screening and matching candidates to job openings by analyzing resumes, assessing skills, and identifying relevant experiences. This saves time for recruiters and enables the identification of the most suitable candidates faster.
2. Bias reduction: The recruitment process can be influenced by unconscious biases and prejudices. AI-based recruitment tools can help reduce such biases by focusing on objective criteria and skills rather than personal factors such as gender, age, or ethnicity.
3. Talent sourcing: AI can aid in identifying potential talent by analyzing public profiles, social media, and other data sources. This can provide recruiters access to a broader pool of candidates and potentially discover talent that might have otherwise been overlooked.
4. Automation of administrative tasks: AI can automate many administrative tasks in the recruitment process, such as interview scheduling, candidate communication, and document management. This frees up time for recruiters to focus on more strategic activities.

P.S.: The information generated were sourced partly from ChatGPT.

Authors:
Jon Gordon – INAC USA
Leo Brosbøl Sørensen – INAC Denmark
Jiří Hůla – INAC Czech Republic
Jean-Yves Lecoq – INAC France
Santiago Silva – INAC Columbia