Different countries, different customs? A journey through the talent landscape in med-tech and pharma with Jyoti Bowen Nath and Ram Iyer of Claricent Partners in Mumbai, India.

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1. What developments are shaping executive research in your country?

Jyoti Bowen Nath: India’s MedTech and healthcare leadership hiring is experiencing exponential growth, driven by a combination of factors:

1. Increased healthcare spending by more discerning consumers.

2. The widespread adoption of technology across the sector.

3. Government support for the growth of the MedTech industry through various schemes, alongside a rapid expansion in the medical device segment, which is one of the fastest-growing globally.

4. A strong focus on preventive care services.

5. The Indian MedTech industry is projected to reach $50 billion by 2030.

Moreover, local companies are targeting import-dependent segments and price-sensitive markets, while global MNCs are focusing on digital innovation. These global companies are increasingly choosing India for manufacturing and Global Capability Centers (GCCs).

Much of the innovation in India’s healthcare and MedTech space, especially among startups, centers around the integration of medical devices and software, with AI and data analytics driving software advancements. These developments have led to a significant surge in leadership hiring within these sectors, with companies also recognizing the need to bring in global talent for niche roles.

Ram Iyer: India is on a significant growth trajectory with a strong governmental push towards widespread development, including infrastructure, real estate, manufacturing, chemicals, pharmaceuticals, life sciences, banking, financial services, and education.

There is also significant growth being driven by technological advancements across every industry. One of the biggest trends is the transformation of traditional businesses to tech businesses. For example, a cosmetic global brand recently relaunched itself as a beauty tech company. Hence, a lot of focus is on tech-enabled functional and leadership skills which is changing the executive search landscape in the country.

2. Which candidate soft skills are most in demand?

Jyoti Bowen Nath: At the C-suite level, certain soft skills have become increasingly crucial. These include:

• Empathy
• Adaptability
• Agility
• The ability to navigate and perform effectively in highly ambiguous environments

Additionally, skills such as emotional intelligence and the ability to look at the bigger picture have become critical. Most importantly, all leaders need to have a strong technology orientation along with other general management and functional skills needed for their roles.

Ram Iyer: Organizations are looking for paradoxical leadership capabilities that redefine the skills needed in today’s leaders. For example:

• Consensus-driven, results-oriented leader
• Leading change with empathy
• Driving financial growth through integrity

3. What is your country famous for worldwide?

Jyoti Bowen Nath: India is renowned worldwide for its intellectual capability, talent that is recognized globally …and of course the rich cultural heritage and the tea!

Ram Iyer: Food. India is known for its diverse set of cuisines across the globe as each state within the country and each city within each state has a different cuisine.

This is one of the reasons why the food and beverage sector, along with consumer markets overall, have experienced significant growth, further fueled by the success of tech-enabled food delivery companies in recent Initial Public Offerings (IPOs).

4. How are new technologies changing the identification and selection of executives?

Jyoti Bowen Nath: New technologies are transforming executive recruitment, particularly in sectors like medtech and pharma. AI-driven tools and predictive analytics now allow for a more data-centric approach to identifying leadership potential. These technologies analyze vast datasets, including performance metrics, behavioral traits, and cognitive abilities, to assess candidates’ readiness for leadership roles.

For example, AI-powered assessments and machine learning algorithms help identify individuals who excel in innovation and strategic decision-making. In medtech, where regulatory knowledge and innovation are critical, these tools ensure a better fit by predicting how candidates will navigate complex industry challenges. Additionally, AI-enabled video interviewing platforms assess emotional intelligence and communication skills, providing deeper insights into candidates’ cultural and leadership compatibility.

By leveraging data, organizations are able to make more accurate and informed decisions, ensuring they select executives who are best positioned to drive growth and innovation.

Ram Iyer: Technology is playing a key role in enabling the talent acquisition process. With advanced recruitment portals and refined search mechanisms, sourcing candidates has become much faster compared to a decade ago when talent mapping and data collection were completed by phone calls.

5. Which innovative talent acquisition strategies do you observe that are still underestimated internationally?

Ram Iyer: Difficult to say since a lot of changes are visible on the global map. I would counter this question by stating that due to technological advancements a lot of companies only rely on desktop based research and not really ‘map’ the companies to understand and identify talent relevant for a specific role. Quite a few times, the profiles on online portals may not have been updated and this may hamper the progress of a search.

Learn more about Claricent Partners (IIC Partners: Mumbai).

This project was created in partnership with ingeniam Executive Search & Human Capital Consulting (IIC Partners: Frankfurt).