C -suite hiring has fallen by 50% following the covid-19 outbreak and this is far worse than what was witnessed during the 2008-09 global financial crisis, said headhunters.
The worst affected has been the hiring of expatriates, they said. C-suite refers to leadership roles such as chief executive officers (CEO), chief financial officers (CFO) and chief operating officers (COO). “Growth-related appointments at companies have come off by up to 50-60%.
Companies have communicated to us that there is a freeze on leadership hiring for the next six months. So much so that if an offer has been made but the candidate has not resigned (from their present companies), it should be revoked," said Jyoti Bowen Nath, managing partner, Claricent