Leveraging tens of thousands of data points gathered from 1,500 executive searches, ON Partners uncovers hiring insights into the reality of compensation, diversity, and market trends
(CLEVELAND, OH.: Aug. 16, 2023) – This month, ON Partners, a pure-play retained executive search firm building diverse C-level and board leadership teams, published its 2023 Talent Intelligence Report. The report is designed to guide leaders through the intricate complexities of executive hiring with confidence and clarity to make actionable, real-time decisions. As non-conformists in executive search, ON disrupts common narratives with data insights and research that offer a fresh, unbiased perspective.
“We are committed to both innovation and transparency within this industry,” said Matt Mooney, co-president at ON Partners. “This is one of the main reasons why we recently hired our Chief Product Officer Jin Ro. He has over 20 years of technology, product, and data solutions experience from corporate leaders and his role in the advancement of talent intelligence solutions for our executive community has been crucial.”
Overall, the report covers the areas of executive hiring diversity, compensation, and additional market trends. ON Partners discovered through its research that diverse executive compensation in public companies has outpaced non-diverse executive total compensation over the last three years. Data also showed a distinct contrast within private equity and venture capital-backed organizations in diverse executive hiring and compensation.
“Our data demonstrates that ultimately, over the past three years, private equity and VC-backed organizations hire less diverse leaders,” continued Mooney. “It was also found that the total compensation for newly appointed senior executives surged above the reported inflation rate year-over-year, spanning industries and organizational structures.”
Findings in the report highlighted a noticeable ascent of 9.4% in the total compensation for recently hired senior leaders. This occurrence took place after a notable downturn that was triggered by the impact of COVID. While data surrounding C-suite employment trends continue to change over time, it is the responsibility of executive search firms to leverage this talent data to provide candidates with leading opportunities and insightful expertise for clients across various industries.
“Talent intelligence is all about solving problems and uncovering hidden insights that elevate the executive hiring experience,” said Ro. “Being a people-centric business, we are seeking to reshape the search industry with insightful, data-informed, and intuitive talent solutions that empower our executive community.”
ON Partners will continue to expand on the data highlighted in this year’s Talent Intelligence Report as they advance forward within all growth markets, remaining committed to further building the most innovative and disruptive pure-play retained executive search firm in the industry.
Download the 2023 Talent Intelligence Report today!
