Exec recruitment taking more time and negotiations amid COVID-19: experts

TORONTO — Canadian companies on the hunt for new leaders to fill their C-Suite or senior ranks during the COVID-19 pandemic are experiencing longer search times and more intense negotiations, corporate governance and hiring experts say. Since the health crisis first spread through Canada last March, they have noticed candidates are reluctant to make a switch and those that are willing to take on a new role are harder to vet without the usual in-person interviews or dinners. “Those roles are taking a lot longer to fill, and in my view, we are seeing that occur at perhaps the worst possible time,” said Adam Dean, the founder of Dean Executive Search and a former investment banker. The usual search period stretching between nine months and a year is now being prolonged, he said, and the extensions are happening as companies are facing extreme upheaval. The pandemic has upended their business models, forced them to pivot on a moment’s notice and sometimes, come amid both planned and unexpected retirements or departures in the top ranks. The last year alone has seen senior staff from Air Canada, Shopify Inc., RioCan REIT and the Canada Pension Plan Investment Board all depart, forcing the…
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