What Luxury Executives Expect from Online Career Services

Luxury Society shares the insights from its recent survey, seeking to better understand just what luxury executives expect from online career services.

As luxury moves into new geographical territories and expands well beyond provincial birthplaces, our workforce enters a period of great opportunity for advancement and mobility. But despite this increased mobility and positively swelling workforce, very little is understood as to how executives wish to manage their careers and what role the Internet will play in this dynamic new landscape.

2011 was a mammoth year for the luxury industry in terms of leadership changes and the emergence of new roles. The digital revolution has forced many changes in marketing and often the need for new skills to enhance our industry. Whether it is a community manager, philanthropic projects manager, chief information officer or even the development of an in-house editorial team, the greater changes in industry are becoming more than evident in how we manage our human capital.

Luxury Society, commissioned by Richemont’s human resources department, recently conducted an anonymous survey, seeking to better understand just what luxury executives expect from online career services and how they currently use digital technology to further their careers. More than 850 members responded, giving us valuable insights into the attitudes of executives towards digital career services and what they expect of luxury brands in the future.

Of the 850+ respondents, almost 40% had been working in the luxury industry between 10 and 20 years, suggesting that this group is the most interested segment in managing and furthering their careers. The majority of respondents worked within the fashion and accessories sector, primarily in the United States, France, United Kingdom, Italy and Switzerland.

When looking for new career opportunities, employers own websites, professional social networking sites and headhunters were the three tools respondents were most likely to use. Conversely, approximately 60% revealed that they were not likely at all to use traditional newspapers or magazines, nor would they use personal social networks like Twitter and Facebook.

It was also interesting to note that the popularity of online job boards are decreasing, particularly amongst those who have worked in the industry the longest, who appear to prefer enlisting the services of headhunters. This digital vs. analogue approach to job hunting was also evident in the way in which candidates wish to be communicated with; senior executives value contact over the phone, while younger professionals will be satisfied with electronic notification.

When it comes to looking for new opportunities, the majority of respondents select the brand they wish to work for first, and see what subsequent positions are available. Respondents also let those within their professional networks know that they are looking for a change, contact headhunters to trigger interviews and send resumes to a short list of organisations.

Respondents also spend time identifying their ‘dream job’ and targeting brands that are currently hiring. Only 10% ask their direct line manager for a promotion or draw on academic networks in searching for their next move.

When it comes to using an employer’s own website, the four most important attributes to respondents were corporate culture, details of the company’s vision and strategy, access to a listing of available opportunities and the ability to apply for a specific job. Within these responses, it became evident that young professionals look for access to job listings and online application functionalities, whereas senior executives pay more attention to company vision and strategy.

To further investigate Human Resources & Career Development on Luxury Society, we invite your to explore the related materials as follows:

- Report: The Talent Agenda
- 15 Executive Luxury Education Programs, France
- Anatomy of a 21st Century CEO