Global talent search firms are reporting a substantial increase in mandates for CEOs and chief experience officers (CXOs) hiring in the UAE amid the rush by corporate majors and family offices to adapt to the new marketplace.

As the coronavirus pandemic continues to change the business landscape in the Gulf, a growing churn is being seen in the corner offices of companies across many sectors in the UAE and the wider region.

“We are currently working on about six CEO search mandates in the region, apart from other CXO search mandates,” Amarjeet Dutta, partner at global search firm EMA Partners - Dubai, told Arabian Business.

“As a global search firm, we at EMA Partners are amidst an interesting journey (currently) with both multinationals and local family offices to re-calibrate CXO level leadership muscle across key functions,” Dutta added.

Senior executives at other search firms, who wished not to be identified or to name their firms because of "non-disclosure" issues, also confirmed to Arabian Business that they were also seeing a jump in requests for hiring at top levels in the GCC region.

What is fuelling the sudden uptick in requirements for talents at leadership roles?

Dutta elaborated: “Covid-19 has actually enabled many progressive organisations to use this period to look inwards and restructure functions/businesses and also have a re-look at the leadership talent pool and come up with creative designs to optimise business impact.

“The pandemic has also accentuated digital transformation activities of companies and family offices across the region.”

Dutta said most companies are on a mission to build leaner and more effective organisations and sustainable businesses with the right leaders in key roles and Covid has been a great accelerator on this endeavour.

“New or higher cost of getting new leaders has not been a concern for most organisations,” he said.

Among the industries that are seeing increased demand for top level hiring are healthcare and life sciences, edutech and essential sectors such as FMCG and consumer technology.

Demand for CEOs with high EQs

Dutta also revealed the increasing preference for "people with high emotional quotient (EQ)" to fill the top roles in the post-pandemic period.

“The quality of CXOs that we would hire before the pandemic and now has definitely seen a shift in the needle across sectors. While, when hiring a CXO, our focus has always been slightly tilted towards assessing her/his EQ over just the candidate’s proven functional expertise. The pandemic has put in unprecedented and increased focus on that aspect,” he pointed out.

Dutta also said the pandemic has helped many organisations who have CEOs/leaders with high EQ and empathy to perform relatively well.

“Beyond 25 years of proven experience, it’s difficult for a CEO to have any challenge on aspects of his IQ part and functional expertise.

“However while working for large family offices, government entities, large and complex organizations and multinationals, the CEO’s ability to protect shareholder value, manage stakeholder and board expectations, learning the art of ‘agreeing to disagree’ and still drive the business growth objective, not being the ‘Yes Man’ but building trust among stakeholders, her/his teams and protecting customer confidence become of paramount importance, especially more now in times of uncertainties,” Dutta said.

Industry experts said the instances of several business leaders voluntarily leaving or opting for postings mainly in Western countries in the wake of the pandemic may have also played a role in the Middle East companies opting for leaders with more grit for future hiring.

More leadership role hiring from GCC

Of late, there has been an increased preference for hiring from within the GCC area for leadership and senior roles, Dutta told Arabian Business.

“About a good 50-60 percent of the leadership talent resides within the GCC today. There is a segment of high potential talent within the GCC and Africa as well, who are waiting to serve a solid purpose and solve complex organisational problems,” he revealed.

“Of course for key technology organisations or tech platforms at leadership roles, we continue to tap into India, Silicon Valley and parts of Europe,” he said.

Five things we learned

1. Mandates for CEO and CXO searches for companies and family offices in GCC see substantial increase
2. Increasingly, the focus shifts to emotional quotient from IQ for CEO/CXO candidates
3. Healthcare and life sciences, Edutech, essential sectors such as FMCG and consumer technology among the industries that are is seeing increased demand for top level hiring
4. Covid pandemic-hit companies and organisations are rushing to carry out internal restructuring
5. Search firms are looking to hire more senior level talents from within the Gulf region