Published on: Wednesday, September 19, 2012
Executive Job Creation Ticks Down in August
ExecuNet's exclusive Executive Job Creation Index ticked down five points in August to plus five. This is the lowest it has been since last October. This drop reflects the fact that recruiters report only 13 percent of companies will be adding jobs over the next six months, versus 20 percent in our July survey.
If there is good news, it is that companies are not eliminating positions, just taking a "wait and see" approach until after the election.
Recruiters report that many companies are still looking to trade-up their talent but not actively looking to add new jobs at this point, except in distinct industry pockets of growth in healthcare, high tech, energy and other more rapidly growing segments.
For job seekers, this means the hidden job market of finding companies with needs remains the way to search. Relying on posted open positions is not the best strategy at this point.
For executive recruiters, this means much the same thing — finding companies with latent needs and finding candidates who can be solutions for them.ExecuNet's Executive Job Creation Index is a nationally recognized measure of expected hiring at the executive level and compares the number of companies expected to add executive positions over the next six months versus those planning to downsize their management teams or delay filling vacant management roles.
Mark Anderson is ExecuNet's president and chief economist. An Arjay Miller Scholar, Mark received his MBA from Stanford University and a BA in economics from Yale University. He joined ExecuNet in 1993, with extensive marketing and new product and business development experience, having served as president and founder of A&M Associates, an investment management firm. Mark's corporate leadership experience includes several senior marketing and financial positions with RCA Global Communications (a GE subsidiary) and American Can Company.