Published on: Thursday, December 02, 2010
Rebound in Executive Job Creation Reveals Corporate Growth Plans
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ExecuNet's benchmark Executive Job Creation Index (EJCI) held positive for an eleventh consecutive month in November as executive recruiters reported employers are encouraged by improving economic indicators and plan to create more management jobs over the next six months.
The number of employers expected to add executive jobs during that time topped those planning to eliminate or postpone filling top roles by 21 points, a 12-point gain from October and a signal that more companies will recruit executive talent to rebuild their management teams and realize their 2011 strategic growth objectives.
"ExecuNet's index is a recognized leading indicator of economic growth, and combined with positive GDP trend lines, increased consumer confidence and other favorable economic reports, it seems the tide is finally turning in favor of more significant executive hiring activity as companies prepare to tackle 2011 business priorities," says Mark Anderson, president and chief economist of ExecuNet.
"ExecuNet has seen a 30 percent gain in private executive job postings for the exclusive consideration of our members in the past month over November 2009. We continue to see high-tech and healthcare companies doing some of the most aggressive executive hiring," he added.
For example, one executive member just reported his relocation to Alaska where he accepted a new management role after two years of unemployment in Michigan, and another who made a fast transition to a new executive role after only seven weeks of membership. Executive recruiters who leverage ExecuNet's membership to develop candidates for executive search assignments have increased their outreach to members by 55 percent over the past year.
In November, executive recruiters were confident that the prospects for new management hiring activity will be positive, as 61 percent were confident or very confidence the executive employment market would improve over the next six months.
Joseph Daniel McCool
Joseph Daniel McCool is senior contributing editor with ExecuNet and principal of management recruiting/succession advisory firm The McCool Group. He is also the author of Deciding Who Leads: How Executive Recruiters Drive, Direct & Disrupt the Global Search for Leadership Talent, recognized widely as "one of the best business books of 2008," and its Brazilian Portuguese translation, Escolhendo Líderes, published in June 2010.
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