Exec search is a growing service in the MENA region, and understandably so, as we are home to many global brands. But how do you find the right executive for your business?
You see, a good executive can make a big difference in the success of your business. They can help to set the company's strategic direction, build a strong team, and drive innovation. A bad executive, on the other hand, can damage your company's reputation, lead to financial losses, and even drive it out of business.
Here at mselect, we are experts in Exec Search because we understand exactly why finding the right executive matters.
In this post, we will explore how the business landscape is developing in the MENA region and how you can find the right executive to help you leverage every opportunity.
Exec Search: What’s happening in the MENA region right now?
The business landscape in the MENA region is undergoing rapid change. The region is home to a young and growing population with a higher level of education. This increases household wealth and middle classes, creating a large and increasingly affluent consumer market. In addition, the region is rich in natural resources, including oil and gas, which has attracted more foreign investment and growth over the years.
Major international companies and startups have joined the region, increasing connections to the rest of the world. They are increasing business opportunities and regional wealth further.
Because of this we have seen
● The rise of the digital economy - The MENA region is one of the fastest-growing regions in the world for the digital economy. We have a high level of internet penetration, and there is a growing use of mobile devices. This creates new opportunities for businesses, as they can reach a wider audience through digital channels.
● The growth of the startup ecosystem - The MENA region is home to a growing startup ecosystem. We have several accelerators and incubators in the region, and there is an increasing pool of venture capital and angel investors. This is helping to support the growth of new businesses.
● The increasing importance of environmental sustainability - Businesses in the MENA region are increasingly aware of the importance of sustainability. This is due to many factors, including the region's high level of population growth, its reliance on natural resources, and the increasing awareness of climate change. As a result, we are looking to reduce our environmental impact and tap into the growing market for sustainable products and services.
● The rising need for corporate sustainability - Parts of the region have been beset by war, political and religious unrest for decades. As we grow, businesses seek to tackle broader sustainable issues, such as philanthropy and employee impact. This changes how our C-suite, VPs and Directors must lead our business growth.
So, is finding top-talent executives easy in the MENA region? Let’s have a look.
The specific challenges of Exec Search in the MENA region
While business is booming, the search for executives can feel challenging, and this is because of the following:
● A shortage of skilled talent - Because economic growth is so rapid, higher-level candidates are in shorter supply. This is why at mselect, we have been preparing our candidates for levelling-up. We foresee that in a short time, there will be many homegrown candidates with on-the-ground experience to fill executive positions.
● High cost of hiring - The cost of living and doing business is higher than it was. This can make exec search more difficult if outsourcing executives to other countries. We believe the solution is through the development of home-grown candidates.
● Diversity, equality and inclusion - It is no secret that cultural, political and religious norms in the MENA region can make it challenging for businesses to find the help they need. This is why we have specifically removed barriers from our hiring processes to focus solely on finding the right candidate with the right skill fit. A diversity-first approach to employment will boost growth and investment in the region.
Let’s look at how the right executive can improve your business.
How finding the right executive for your business makes a positive impact
Having the right candidate in place makes all the difference. In our experience, when the right executive leads from the top, you will see:
Increased productivity by setting clear goals, providing direction, and motivating employees.
Improved decision-making by bringing experience, knowledge, and a fresh perspective.
Enhanced customer service by creating a culture of customer focus and providing employees with the tools and training they need to provide excellent service.
Increased sales by developing and executing effective sales strategies.
Improved profitability by identifying and implementing cost-saving measures and developing new revenue streams.
Enhanced reputation by building relationships with key stakeholders and representing your business in a positive light.
Now it’s time to start your search.
How to start your exec search in the MENA region
There are two ways of doing this. One is to do it yourself, which involves:
● Defining the role
● Creating the job description
● Conducting a search
● Screening candidates
● Interviewing candidates
● Making an offer
● Sign contracts, or restart your search
● And onboarding the executive.
Or you could have us do it all for you! Contact us here.
Your next steps to finding your top executive
Once you decide to hire an executive, there really is only one choice for your MENA-based business - to contact us here at mselect.
We have years of experience building and growing our talent base to include candidates primed and ready to take on your challenge.
Our streamlined and unbiased process means you get the perfect matching executive for your business. And not just in today’s terms, we also make sure to understand where you are going so that your executive is the perfect leader to get you there.