Covid disrupts CXO hiring, too

Even as organisations continue to lay off employees across redundant business functions to survive, CXO hiring has taken an 80 per cent hit as a consequence of the unprecedented business disruption caused by the Covid-19 restrictions.

Organisations are revoking, scrapping and indefinitely putting on hold all offers that were accepted by candidates, making life extremely difficult for those who have already resigned from their previous positions and are serving notice. These CXO positions command CTC between ₹1 crore and ₹6 crore per annum.

“Almost 70-80 per cent of our CXO searches are on hold indefinitely since March. Four offers made by organisations have been scrapped and another 10-12 offers have been put on hold for at least 6-9 months or, in many cases, indefinitely.