The year 2020–21 will go down in history as an important time for many reasons and in many contexts. On the enterprise front, there was a swing from panic shutdowns and knee-jerk involuntary attrition in 2020 to hyperactive hiring funnels and a scramble for top talent in 2021. These shifts are among the many reasons why 2020–21 will be remembered for years to come. A closer look at the Dipstick report on senior suite movements in tech reveals how these broader market trends played out at the leadership level across India’s technology sector.
Senior Suite Movements in the Indian Tech Sector
One of the facets of the hiring action is that of the Leadership Hiring and Senior Suite talent movement. The volume and velocity of leadership hiring is a strong indicator of progression at enterprise and industry levels too. As a high-stakes and high-value layer of Top Talent, Leadership & Senior Suite hiring has gained traction since late 2020 and achieved buoyancy through 2021.
We observe that the talent movement patterns in the Tech Domain are high-interest growth sectors that bounced back the fastest from the pandemic impact. This study on Senior Suite Movements in the Indian Tech Sector offers a snapshot of both personal and organizational aspects of top talent who changed jobs during the first two quarters of FY 2021–2022.
The trends from this significant period offer valuable insights and raise further questions worth exploring. While we observed some direct messages and indicators, as the data unfolded, a question emerged: Is the demand-supply imbalance a key factor behind the trends we’re seeing?
Disposition Towards Startups and Micro Enterprises
The clear preference for startups and micro-enterprises was unmistakable. If we are to consider this as a long-term shift that’s likely to continue, it becomes important to explore the driving forces behind this change. This trend is particularly relevant among professionals with 20–22 years of experience or those in the 42–46 years age bracket, who represent a sizable portion of the study group.
Some of the key reasons behind this trend include natural monotony, limited variety in roles, and fewer challenging projects within large enterprises.
Reinventing Is Centerstage
Senior tech leaders increasingly understand that as opportunities at the top of large organizations become limited, it gets harder to grow as a leader. Eventually, a downward move or stagnation becomes almost unavoidable. This is not to be read as a survival tactic but also a strategy to stay relevant for longer.
With more adequacy in financial planning along with a rewarding career in the technology sector, the shift to startups is more of a calculated risk. One with hopes of another powerful inning on a different pitch, rather than a draw on the familiar home ground. For many, this may be just the perfect moment to onboard the adoption curve. It is a fantastic market time for both talent and enterprises, without a doubt.
Startups, with a zeal for expansion and valuation, are increasingly absorbing top talent from the market. The Dipstick report on senior suite movements in tech highlights how these agile enterprises are emerging as strong contenders in the leadership hiring space.
It’s David vs. Goliath out there on the field, and David currently seems to have an edge in the War for Top Talent.
A Dipstick Study on Senior Suite Moves in India’s Technology Sector
A snapshot of CXO movements in India’s tech sector, highlighting trends in leadership hiring, industry preferences, and key demographic insights from a study of 300 senior executives.
Enterprise and Personal Professional Demographics
As businesses across the world progress with technology adoption and tech spending due to the COVID-19 pandemic, the demand for technology professionals in India has skyrocketed.
The period of study has seen several new appointments and movements among the Senior Suite in the tech sector. In this study, Xpheno maps and analyzes the movement of 300 CXOs on Enterprise, Personal & Professional demographic dimensions. Enterprise dimensions cover aspects like enterprise size, start-up status, industry, and role diversity, while Personal Professional demographics cover experience profiles, stability, tenures, and pedigree of qualifications.
Statistics of CXO Moves in Tech Startups
Tech Startups accounted for 45% of the moves studied, while IT Services emerged second with 32%. The Tech Products sector added 5%, while Senior Tech movements in the Consulting sector contributed 3%, followed by GICs at 2% of moves.
With a net gain of 9%, the Micro Enterprises cluster has emerged as the top gainer of Tech Senior Suite over the last six months. The biggest net loser, on the other hand, is the Large Enterprises sector, with a 19% gap between Exits and Absorptions of Tech Senior Suite in the period of study.
The Startup sector emerged as the net-gainer of Tech Senior Suite movements with an 11% difference between Exit and Absorption counts.
Gender Representation in Senior Tech Suite
Tech movements showed a prominent skew in gender representation at the top. Despite various gender diversity interventions by enterprises, women representation at the Senior Suite in the technology sector seems to have a long-distance to cover. With just a little over 7% of the moves involving female executives, the tech sector is yet to strike a balance on gender diversity across the organogram.
Age and Experience Data of Senior Tech Suite
The tech leadership group is largely made up of experienced professionals with an average age of 43 years. About 46% of the CXOs are between 36 to 45 years old, 32% fall in the 45 to 55 years range, and only 12% are in the 22 to 35 years age group.
The CXOs included in this study have an average of 20 years of work experience. Around 60% of senior tech leaders have between 15 and 25 years of experience. On average, they stayed in their previous roles for 5 years. The data also shows that they tend to work longer in large companies compared to small and mid-sized ones.
Preference of Location
Tech Senior Suite movements showed a preference to stay put in one’s current location, with just 15% of executives changing locations in their recent career move. Bengaluru remains the hottest location for tech talent, with 38% of the Senior Suite movements, followed by Delhi, NCR.
Preference of Educational Institutions by CXOs
It was interesting to observe that CXOs have had a preference for premier institutions in post-graduation qualifications as compared to undergraduate. While 24% of the CXOs had their UG from Premier Institutions, the number increased to 27% at the Post-Graduation level. STEM (Science, Technology, Engineering, and Mathematics) remains the preferred stream in graduation, and a degree in Management remains the preferred choice for Post-graduates.
Future of Tech Leadership
The Dipstick report on senior suite movements in tech highlights a defining shift in India’s tech leadership landscape, with a strong tilt towards startups, growing openness to risk-taking, and evolving leadership expectations among senior professionals. While traditional enterprises struggle to retain top talent, startups are fast becoming preferred destinations for experienced leaders seeking impact and agility. However, the trends also expose gaps, especially in gender diversity and geographical spread, that require focused attention. As leadership roles become more fluid and dynamic, the ability to adapt and stay relevant will be the key to driving the next wave of growth in the tech industry.
