More movement at senior level

Stephen Phipps our consultant managing the role
Posting date: 01 February 2023
The movement at senior level is being driven both by organisations that need leaders with both digital and commercial acumen, and by candidates who want a strong workplace culture, more opportunities and a better remuneration package.

- Stephen Phipps, UK & EUROPEAN CEO

Stephen Phipps, UK & European CEO gives his prediction for 2023 on how there will be more movement at senior level...

We’ll see more movement with senior level candidates seeking new opportunities. There seems to be optimism in terms of new roles because of the high employment levels, and a thirst for increased remuneration in light of the cost of living crisis. This movement is being driven by both businesses and candidates - good people are in demand, as are good roles.

Why is this happening? 

From the point of view of businesses, the requirements of executive leaders and C-suite members are changing. They’re now different in terms of both emphasis and expertise. Leaders need to be more commercially aware than ever, and both business acumen and the requirements for commercial savvy can’t be overestimated. 

Companies today and in the future need the right business, not just any business, and they need leaders who are able to understand the mechanics of what that means and how to drive it, as well as driving the right behaviours in others. People are looking at team capabilities and so-called ‘bench strength’ and succession planning, and if they don’t have what they need internally, they’re going out into the market to find it.

It’s also more necessary than ever for leaders to have digital, technological and transformational capabilities. Businesses need leaders who understand what the world will look like in five years and be able to get their business on that track as quickly as possible. 


New private equity-backed companies are also creating movement; in fact, PE and venture capital-backed businesses delivered 5% of total UK GDP in 2021. There are now more roles than ever at senior level because of the sheer variety and size of organisations, from startups to large global corporations. PE firms are also typically looking to scale.

Another driving force at senior level is the number of companies diversifying into either new or more markets, or more. Products and solutions used to be complicated and we’ve seen organisations across the board really simplify them down, and now that’s happened it’s easier to extend and scale.

But it’s not just organisations that are driving all this movement. From a candidate point of view, the best talent is starting to raise their head above the parapet after a couple of years of getting through the pandemic and all the workplace change that entailed. 

They’re questioning whether their employer is offering the culture and opportunities that match their own ambitions, and they’re more open to conversations and new possibilities. Careers were put on hold for a time, and now priorities may have changed and remuneration isn’t moving forward at a desired rate, especially in light of cost of living. 

If you’d like to discuss this topic further or find out how Hanover can help you, please  contact me directly and let’s set up a meeting.

Want to hear more of our 2023 predictions - read our Marketing & Strategy Director's thoughts on Gen Z talent.

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