October Market Update, 2024

Navigating Economic Challenges and Demand for Executive Commercial Talent in Australia

As we approach the end of 2024, I thought it was timely to share some valuable insights from our Commercial Officers Practice on the current economic and market conditions and their impact on executive talent and in particular the market for senior commercial and sales executives.

This October update from Pacific Talent Partners’ Commercial Officers Practice offers valuable insights into current market conditions, the rising demand for commercial executives, and effective strategies for sourcing the best talent in today’s competitive environment. Whether you’re in need of strategic guidance or seeking to understand the shifting dynamics of executive recruitment, this update provides a comprehensive overview.

Industry Overview

Inflation Drives Executive Talent to Seek Stability

Inflationary pressures are causing significant impacts across much of the Australian market, especially in sectors like Retail, Energy & Utilities, and Housing & Construction.

As a result, executive commercial talent has become more focused on stability and security, showing less willingness to take risks pursuing new opportunities. This shift has made it increasingly challenging to source talent at the executive level.

Demand for Executive Talent

Increased Demand for Strategic Executive Talent

Through inflationary challenges, businesses have prioritised budgets toward fee-earning roles such as within the Commercial function, while reducing investment in non-revenue-generating areas like HR and Finance. This has led to a surge in demand for Commercial executives and caused an increase in financial compensation. As a result, Commercial leaders now hold a stronger negotiating position, but with heightened remuneration comes elevated expectations to deliver, placing greater pressure on performance and results.

Sourcing the Best Talent

Integrated Approach Key to Sourcing Top Passive Executive Talent

At Pacific Talent Partners we provide an integrated solution to sourcing the best executive talent for our clients. This includes utilising our extensive database of executives, developed and nurtured over many years, tapping into our extensive networks for referrals and recommendations, utilising social and digital tools to overcover passive talent and when appropriate advertising to ensure no stone is left unturned.

In the Commercial Officers Practice, when undertaking a search for our clients we always recommend utilising the full integrated solution to guarantee success. The top Commercial officers and sales executives are often already thriving in successful companies, consistently delivering strong results, and therefore not actively seeking new opportunities.  To access this talent, you need that integrated approach to activate their interest in a new opportunity.

For example, in our Commercial Officers Practice, we’ve observed a steady decline in the number of executives on our shortlists coming through traditional advertising channels in recent years. The best commercial talent is increasingly passive, not actively seeking or applying to advertised roles, making it more difficult to access. We always recommend partnering with an executive talent expert who utilises a fully integrated sourcing solution and has a proven track record of delivering results. 

Current Opportunities

Embracing At-Risk Compensation

Pacific Talent Partners is currently working with clients across various industries to fill key executive roles, including:

  1. Managing Director | Transport & Logistics Business | Circa $450,000
  2. Partner | Professional Services Business | Circa $1,150,000
  3. Sales Director | FMCG | Circa $400,000
  4. Commercial Director | Information Technology | Circa $250,000
  5. Property Acquisition Manager | Commercial Real-Estate | Circa $200,000
Recent Placements

Our team has recently supported clients in successfully placing executives in high-impact roles:

  1. Chief Transformation Officer | Professional Services | Circa $800,000
  2. Managing Director | Transport & Logistics | Circa $350,000
  3. Sales Director | Construction | Circa $300,000
  4. Managing Director | Professional Services | Circa $400,000
  5. Sales Director | Information Technology | Circa $500,000
Expert Support for Executive Talent Needs

In Conclusion

If your organisation is seeking guidance or support for executive talent acquisition, Pacific Talent Partners is here to provide strategic solutions tailored to your leadership needs. Contact us today at +61 (2) 8318 1818 to discuss how our expertise can help you navigate the executive talent market and find the right leaders to drive your business forward.

Picture of Lachlan Kanaan

Lachlan Kanaan

Practice Lead | Commercial Officers

Scroll to Top