A new report* reveals the current career needs of senior executives across the world*. Executives answered confidential questions regarding their expectations from their next hiring organization, their approach to the hiring process, why they left their last job and their openness to changing organizations at the current time.

Over recent years in conversations with senior executives surrounding corporate roles, Amrop began to notice a change in their career aspirations. One apparent trend was a move from traditional, engineered career routes to a more organic approach. Amrop summarized this as ‘an increased desire to control their own destiny, even at the expense of some predictability and security’.

This was just one hypothesis that led Amrop to run the new global study. ‘The Amrop Talent Observatory’ was conducted late 2020 into 2021. This makes it a unique barometer of the deeper factors determining senior careers, against the backdrop of a global pandemic.

Amrop’s pre-Covid hypothesis regarding senior executives’ increasing need for freedom was backed up by the data. The stress under which the pandemic has placed executives has been widely reported. It has led many to seriously reflect on what will fulfil them in the next chapter of their lives. Amrop believes that the pandemic has reinforced and even accelerated an underlying trend.

Executives want more control over their own destiny – even in the current economic climate

Support, growth and professional freedom are important to more senior executives (80%) than compensation or remuneration.

Linear, upward career routes are losing attractiveness. They are giving way to semi-structured, sideways moves, underpinned by executive learning:

• • Even if 40% of senior executives still want the traditional one track, upward career path, the strong trend is towards a semi-structured approach, as sought by 73%
  • 79% actively seek organizations that give them their own learning budget. 73% would avoid firms that neither expect them to follow any programs, nor provide finance
  • A significant number of senior executives now want to work for more than one organization at once: if 51% still want the classic ‘locked-in’ contract, almost as many (45%) actively seek more freedom
• Despite the economic insecurity of Covid, the entrepreneurial spirit is strong: 63% of senior executives want a major part of their compensation to be linked to organizational performance (which 90% want to influence).

The survey also found that most executives are now actively seeking organizations that emphasize an ethical, responsible and sustainable approach to making decisions. The report presents the characteristics which take organizations to the top of the list when it comes to attracting (and retaining) senior talent.

From a clear purpose and ESG strategy, to diversity of thought, compassion and involvement, these factors prove extremely important to senior executives. And they far outweigh their opposites (such as an emphasis on unity of thought, competitiveness, speed and financial value).

 A higher purpose is critical: 86% of senior executives say that when they’re deciding whether to join an organization, its purpose, mission and vision are highly important. Ethical reputation is key for 89% and 74% seek an ESG strategy:

• • Asked to pick the 3 most important areas in making a career decision, the organization’s purpose still ranks highest (closely followed by remuneration and work-life balance).
  • 91% would actively seek an organization with a clean ethical reputation and 84% would actively avoid a firm with a serious reputational fallout
  • Diversity of thought is more important than unity: 79% actively seek organizations that emphasize diversity over unity of thought. Only 5% would avoid organizations with this emphasis
• Compassion is more important than competitiveness: 47% actively seek organizations that emphasize compassion over competitiveness. Only 15% would avoid organizations with this emphasis.
• Stakeholder involvement is more important than speed: 44% actively seek organizations that emphasize involvement over speed. 20% would avoid organizations with this emphasis
• Societal/environmental values are more important than financial value. 49% actively seek organizations that emphasize societal/environmental values over financial value. Only 10% would avoid organizations with this emphasis.

The report sends clear signals to organizations seeking to attract (and retain) senior talent: the focus of top executives is shifting towards a professional life that gives them greater control over their destiny, working in organizations with a more holistic approach to doing business.

*443 senior executives responded to the survey, 84% in current employment. Of the organizations represented, 49% were listed businesses and 73% with offices in more than one country.

*survey from Amrop