Chief HR officer roles in India Inc see highest churn

By admin Jul11,2024

Bengaluru: One in every 10 CXOs switched at least one job in the year ending June – but some corner office roles saw more action than the rest, found an analysis of 37,000 C-suite movements by specialist staffing firm Xpheno for ET.

Chief human resources officer (CHRO) roles saw the highest churn of 20% across India Inc, with one in every five changing jobs in the 12-month period, followed by chief sales officers (CSOs), and chief product officers (CPOs) with turnover rates of 18% and 15%, respectively, the analysis revealed. “The churn at the top remained significant despite the low-to-moderate hiring activity in the market and headcount degrowth by bellwethers in key talent sectors,” said Siddharth Verma, business head – executive search at Xpheno.

“These CXO movements, driven by reasons ranging from vertical and horizontal movements to IPO plans to expansion in certain sectors, and derisking, are a sign of a larger positive outlook for the coming quarters. Besides a lateral exchange of talent between sectors, there were also significant movements triggered by greenfield and global capability centres (GCC)’ expansion,” Verma added.

The data covered movements over the last year in India’s active CXO talent pool with a minimum experience of 10 years, tracking published news, enterprise announcements and LinkedIn movements. This cohort of 37,000 professionals grew 5% over the year, with vertical movements of about 2,000 senior executives elevating them into the CXO pool.

On a volume basis, COO (chief operating officer) movements accounted for 31% of the churn, followed by CTO/CIO (chief technology officer/chief information officer) at 24% and CFOs (chief financial officers) at 21%.

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