Executive search:
Manufacturing
Manufacturers recognise the importance of digital transformation in the fight to secure a competitive and resilient future and tackle ongoing manufacturing challenges. Reiss Gregory, manager of global manufacturing at InX, highlights the market outlook for 2024.
Here are the key areas leaders need to prepare for in 2024:
Future proof hiring strategies – how businesses are planning for the long term.
The power of AI – the AI-powered EV revolution.
Search for leaders – why companies are looking beyond manufacturing for their leaders of the future.
The increased demand for executives skilled in digital transformation is especially evident in manufacturing. Leaders in this sector need to be capable of driving growth and have the skills to navigate the changing business landscape – being adaptable, innovative and able to predict and respond to the evolving market.
With constant turnaround processes, M&A and new product developments, manufacturers have always had to work hard to keep up. However, this can sometimes result in making hires of a more ‘reactive’ nature to fix an immediate problem or fill a position that is becoming an issue for the business.
Now that a lot of the dust and turmoil of the Covid period has settled, manufacturing leaders are taking a longer-term hiring approach. They’re looking to hire executives who can future-proof their business and work towards something longer term – considering the development plans and career paths of new employees well in advance of the hire. The person coming in will have ambitions of their own beyond the current issues in business, so it’s very refreshing to see organisations thinking ahead now.
The rise of electric vehicles and AI-powered autonomous driving continues to be of interest to manufacturing leaders, who want to be armed with as much information as possible so they can make the best decisions for their businesses. The key is to keep learning. AI was just a buzzword for many years – and now it is very real and here to stay.
Due to current uncertainty and market volatility, businesses are looking to be a lot more strategic to stay competitive. Having a marketing expert who can stay on top of technologies, grow the brand and analyse market data is increasingly important.
As companies within manufacturing continue to transform their product offerings and incorporate new technologies, they’re looking for senior leaders from outside their sector. Manufacturing is now also a more attractive sector for senior professionals from other industries.
There’s increasing demand for strong engineering profiles due to the drive for innovation and digitalisation, especially within the automotive and electronics fields. A strong drive to optimise cost efficiency has led to huge demand for both operations executives and supply chain executives. As the manufacturing world has become more unpredictable, deeper analysis and enhancements are required for both operations and supply chain capacity.Packaging and food and beverage have been more attractive across the business partner, management and director levels. We’re seeing both up-and-coming professionals and directors from large corporations putting their skills into practice in a startup, wanting to take on wider ownership as opposed to the safer bet of growing steadily through a corporate.
Leaders are moving away from reactive hiring and looking to plan for the long-term future of their business. With the race to incorporate new technologies, companies are searching for senior leaders outside the manufacturing sector. AI-powered technology is changing the world of manufacturing, transforming product offerings, and driving innovation.
Manufacturing is looking for leaders who can stay ahead of technologies and navigate a path to success in an unpredictable world.
