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Technology Talent Squeeze
Warwick Bowd • May 10, 2022
The key shortage of technology talent has been described as the ‘handbrake on growth’ in the local technology sector, as well as affecting organisations across all industries as they seek to deliver on digital transformation. To help address this issue, Derwent recently hosted an event for senior executives in technology businesses, to share insights on how to win the war for talent in a competitive market.
Warwick Bowd who leads Derwent’s Digital, Technology and Services practice chaired the forum, which was headlined by contributions from panelists Suzy Nicoletti, the former Google and Twitter executive who now leads eCommerce platform Yotpo, and Martin Herbst, former eBay executive who currently leads cloud-based recruitment platform JobAdder.
Some great insights shared by the panel included the following:
- The importance of focusing on nurturing and retaining good people, who are likely being approached by other firms
- The key responsibility of leaders to deliver a great employee experience, which will mean different things to different people
- The importance of having a clear Employee Value Proposition (EVP) which you not only communicate, but actually deliver on
- Understanding what’s really unique about your business when attracting talent, and seeking to differentiate as you do with customers
- Thinking about recruitment as an investment centre not a cost centre, and utilising data to understand effective sourcing channels
- Appreciating that high-growth business can be attractive destinations for talent, given they offer greater autonomy and breadth of opportunity
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Derwent are delighted to have hosted over 100 attendees at our Pathway to the Boardroom event in Sydney this week, with guest speakers Inese Kingsmill and Robyn Stubbs . This ongoing series is designed to provide tips and perspectives to aspiring board members as they explore opportunities beyond their executive careers. Inese and Robyn shared their insights on how to plan for a board career; how to effectively develop and position your personal brand and expertise; and tips for identifying and assessing different board opportunities. Highlights of the discussion included: Gaining exposure to boards during an executive career provides professional development and foundational board experience to point to. Establish your Unique Selling Proposition (USP) – t here are unique skills, expertise and attributes that are personal to you, including adjacent experience applicable in other settings (such as regulated settings, customer, transformation, technology). You may be ‘pigeon holed’ throughout your executive career, so it’s important to further develop functional and industry experience in a variety of settings which can help to open up greater board opportunities. Finding board opportunities – there are a myriad of different channels including networking, board search recruiters, consulting engagements, industry associations, LinkedIn, personal connections. Develop a target list and do some initial research, but don’t boil the ocean. Due diligence is key to finding the right board, including research into growth opportunities, competitors, financial positioning, and skills gaps on interesting boards. Future fit boards and diversity including age, functional expertise and different styles around the boardroom table are increasingly valued. Keep an open mind to different opportunities in private, listed and NFP settings, focusing on where there is space for you to learn and contribute your skills. Not for Profits, Industry Associations and other Community Boards are helpful starting points, developing experience working directly with Board Members. This exposure can help to better understand board dynamics, governance responsibilities, the rhythm of board meetings, and how to effectively work ‘on the business’, not ‘in the business’. Continuous learning – with rapidly evolving macro environments, continuous learning, particularly in relation to emerging technology, will be crucial to staying ahead of the skills that boards will require in the future.
Derwent is pleased to announce that Graeme Young has joined the firm as a Partner in the Financial Services Practice. Graeme brings over 15 years’ experience in executive search and recruitment, with a focus on the Insurance market. He leverages his vast experience in global Insurance, with deep technical knowledge and networks to deliver impactful leadership and C-suite appointments. Graeme was most recently a Director at Eliot Partnership, a leading global firm in Insurance Executive Search, where he led the Australian business. Prior to his Executive Search career, Graeme spent over 20 years working across global Insurance and Reinsurance markets, commencing in London and moving to Sydney in 1998. Derwent is proud to be one of Australia’s largest Executive and Board Search firms. Our leading team of 90+ drives our growth, success and scale in delivering to the clients who entrust us to advise on critical hiring needs.
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