In Search of Fashion Leadership
In this episode, “In Search of Fashion Leadership,” we consider the ways in which executive leadership must adapt to crises, and how this changes the way fashion companies hire.
The Covid-19 pandemic has tested the mettle of fashion executives worldwide. They have had to adapt quickly, shifting retail operations primarily online, reimagining their distribution and production, and moving their workforce to remote offices. In more dire cases, they have furloughed or fired employees, cancelled orders and closed stores.
The ripple effect across the supply chain is visible. According to the U.S. Fashion Industry Association, confidence in the fashion business has dropped more than 8% since 2019 and 95% of brands expect sales revenue decreases for the 2020 fiscal year.
On top of this, civil unrest in the US and worldwide, has laid bare issues of systemic racism and gender pay inequality. And younger customers are quick to “cancel” brands that are not responding transparently with actionable change.
In short, fashion executives have had to be more visible as consumers demand more transparency, in many ways changing the role of brand leadership and shifting how companies hire. According to Meghan Houle, a Senior Executive Recruiter at The Bowerman Group, fashion companies are taking this moment to be very picky in hiring new executives.
[Meghan] It really is all about reputation. As the saying goes, ‘Your past can come back to haunt you.’ It is all about reputation.
Further, Meghan points out that there is a relatively small talent pool in fashion leadership, so companies are now seeking non-fashion backgrounds, candidates without a direct retail luxury or consumer brand history, but who have “gravitas and a much needed new perspective.”
[Meghan] A lot more, you will see executives getting hired because of who they are, not the titles they've held, or the competitive brands they have worked with before. I truly believe brands are looking for a fresh perspective. As things continue to evolve, to attract top talent, bring top talent to the organization there absolutely needs to be some changes. And I do believe there are fashion veterans that are out there that are very innovative, agile. And still, you know, it will be extremely attractive, but absolutely are gone the old-school retail ways.
When it comes to leadership qualities needed during a crisis such as this, it’s all about “honesty, empathy and approachability.” she says.
[Meghan] Honest with your communication strategies, empathetic to all situations. Everyone's going through a lot. And empathy, maybe compassion; we'll add that in there. I think it's just really important to teams overall. And to be approachable, really in creating environments where people feel seen and heard and valued.
So, companies will be asking: How have people led in previous roles? What were they known for? What would some former colleagues and coworkers say about them? What impact do they make on the business for the greater good and really looking to lead with love and not ‘significance’ with their teams. What do they do to acknowledge the social issues that are going on right now and affecting their team population? And really, how are they proactive about what the business is doing to really communicate their stance?
As fashion companies head into the fourth quarter and plan their budgets for 2021, they will be prioritizing key roles to ensure ongoing agility and the ability to pivot. So what does this mean for job seekers?
[Meghan] I would expect a slow, but steady, hiring pace, prioritizing key roles. So, I do believe interviews will continue. Offers may not come through until late end of 2020, rolling into the budgets of 2021, maybe early January 2021, unless it really is a critical position needed for the business to sustain and get through the season. Certainly, we're seeing brick and mortar store leadership openings that have been taking priority. There are a lot of companies out there that are just taking the approach of doing more with less for the time being. And you will certainly see a lot of department leaders internally stepping up, taking on new assignments to cover any potential openings that are out there until the right hire is made. And take a lot of vetting; I would very much be prepared, for anyone going through the interview process at any level, for a very strategic, precise hiring process that can maybe feel a little intense. And really as a candidate to make yourself visible, you have to be authentic, know your why, know your value, know what you can bring to an organization; a confident, but not cocky approach.
Learn more: FashionConsort.com / FashionUnited.Com / @FashionConsortAgency