Now, CXO hires keep India Inc. guessing

Headhunters for top corporate roles are facing a problem once limited to the lower ranks: Candidate dropouts, where a person finishes the recruitment process and accepts a job offer, only to back out later.

- Devina Sengupta

Dropouts are rising since companies scout for CXOs from a wide range of sectors, resulting in the same candidates receiving multiple offers, executives from top recruitment firms said. In turn, these recruiters are pushing companies to wrap up the hiring process quickly and even keep tabs on the candidate.

"It has become quite normal to have one out of four finalist candidates dropping out at the last moment. It is candidates now a standard practice for us to check with the for any parallel conversation that they might be having already, and mostly, they do let us know at the interview stage if they are in process with another potential employer," said Suresh Raina, a partner at search firm Heidrick & Struggles India.

CXO dropouts are frustrating because the lengthy process has to start from scratch, delaying the company's plans. Headhunters are annoyed, too, since they get paid only if the candidate joins and works for a fixed minimum period.