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Filed Under: Executive Employment

 
For more than a year now, executive search firms have taken a very cautious approach to rebuilding their own consulting and research staffs in the wake of a global recession that forced some of them to close offices and many of them to downsize their teams.

 

 
High-achieving leaders find networking six times more effective for creating career options than online job postings, according to our hot-off-the presses research from ExecuNet's 20th annual Executive Job Market Intelligence Report. Further, networking is the activity executive recruiters maintain to have the greatest success finding candidates.

 

 
A monthly ExecuNet survey of executive recruiters finds that 61 percent of them believe employers will leverage the economic climate by selectively "trading up" with new hires for existing senior management roles over the next six months, and an additional 23 percent of employers are expected add new executive jobs to their payrolls.

 

 
A monthly ExecuNet survey of executive recruiters finds most are confident the executive employment market will improve over the next six months, despite some slippage in that hiring indicator last month and a flurry of headlines about the sluggishness of the broader jobs market.

 

 
When executives began their most recent job search, they thought it would take just over six months to land their new position, according to ExecuNet research. But when a new job didn't materialize after that period of time, our survey respondents estimated it would take almost another half-year before their search efforts were effective.

On average, it had been 6½ years since these executives had last been in a job search, and a lot has changed since mid-2005: The unemployment rate was at 5 percent, and in ExecuNet's 2006 Executive Job Market Intelligence Report, our analysis focused on the high demand for executive talent. Here's what we wrote back then:

 

 
After a bruising four-year period during which many executive search firms — like their corporate clients — were forced to downsize, these firms continue to take a slow, purposeful approach to rebuilding their own consulting and research teams.

 

Published on: Wednesday, April 11, 2012

Executive Job Creation Extends Positive Trend

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A monthly ExecuNet survey of executive recruiters finds that more than one quarter of them expect employers will leverage the current economic climate by adding new executive management roles over the next six months.

In March, ExecuNet's monthly Executive Job Creation Index (EJCI) reached +19, its second-highest level since June 2011. Further, the 27 percent of companies expected to add new executive management jobs was also the second highest rate registered since June 2011.

 

 
A monthly ExecuNet survey of executive recruiters finds the highest levels of confidence that the executive employment market will improve over the next six months since May 2011.

In March, ExecuNet's benchmark Recruiter Confidence Index revealed that 59 percent of 123 responding executive recruiters indicated they were "confident" or "very confident" the executive employment market would improve over the next six months.

 

Published on: Monday, April 02, 2012

Six-Figure Hotline: Recruiters Won’t Market You

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As part of ExecuNet membership, I conduct a weekly teleconference called Six-Figure Hotline where members call in to ask the questions keeping them up at night, and to gain market and trend insight from the career experts who join me in talking about issues that are important to executives today.

An ExecuNet member asked: "I founded a small, very successful consultancy and now want to apply my leadership skills and experience to the benefit of a larger organization as a member of the executive team. Do you recommend that I sign on with an executive recruiter, or should I go it alone? Would I have a better chance of landing interviews at the right (high) levels in the target organization if I am represented by a recruiter?"

 

Published on: Wednesday, March 21, 2012

Trading Up is Hard to Do

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I'm among the last people to pay attention to sports, but I did watch Peyton Manning's recent press conference. It was hard to miss; the emotional clip was played across all mediums, and I especially noticed it because there is something about crying sports figures that really gets to me. The movie Rudy leaves me wrecked for days.

But after the tears, what I immediately heard was the list of teams already vying for his attention. What was a sad day for Peyton was a happy one for his potential employers.

 

 
Executive search firms want to see more sustained corporate hiring at the management level and more consistent economic data before they rebuild their own firms by adding new consulting and research staff.

In February, ExecuNet's benchmark Search Firm Hiring Index revealed that 23 percent of 130 responding executive recruiters indicated they would be adding new professional research and consulting staff over the next three months, a decline of five points from January.

 

 
A monthly ExecuNet survey of executive recruiters finds that 28 percent of companies are expected to add new executive jobs in the next six months, and only 1 percent are poised to cut top management positions during the same time.

 

 
Confidence among executive recruiters dipped slightly in February but remained in positive territory as more of them expressed concern about the pace of corporate management hiring in the short-term.

In February, ExecuNet's benchmark Recruiter Confidence Index revealed that 51 percent of 130 responding executive recruiters indicated they were "confident" or "very confident" the executive employment market would improve in the next six months. That was down six points from January but above the important 50 percent level that historically indicates optimism for a broader expansion of the jobs market.

 

 
While most executive recruiters hold tight to a "wait and see" approach to matching internal resources with mounting corporate client priorities, more of them are considering expanding their own consulting and research teams to do just that over the next three months.

 

 
The number of employers expecting to recruit for senior-executive roles over the next six months is higher than the number of employers planning to shed management jobs during the same time, according to the results of an ExecuNet survey in January of 157 executive recruiters.

 

 
Confidence among executive recruiters edged up slightly in January as they projected that one in five companies will be adding executive level positions and almost six in 10 companies will selectively "trade up" their management bench strength by recruiting replacements for existing roles over the next six months. Only 1 percent of employers were expected to eliminate executive positions during the same period.

 

 
Most executive search firms are focusing on fully utilizing their existing consulting and research teams on client search assignments before moving to rebuild their own staffs.

In December, ExecuNet's benchmark Search Firm Hiring Index revealed that only 19 percent of 126 responding executive recruiters indicated they would be adding new professional research and consulting staff over the next three months, the same number as registered in November and October.

 

Published on: Thursday, December 29, 2011

Executive Job Creation Picked up in December

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The number of employers expecting to recruit for senior-executive roles over the next six months is higher than the number of employers planning to shed management jobs during the same time, according to the results of an ExecuNet December survey of 126 executive recruiters.

 

 
Executive recruiters enter the new year more confident in the growth potential for the executive employment market than they've been since mid-2011.

In December, ExecuNet's benchmark Recruiter Confidence Index revealed that 55 percent of 126 executive search firm respondents are "confident" or "very confident" the executive employment market will improve over the next six months, up 13 points from November.

 

 
Executive search firms continue to take a cautious position when it comes to doing their own hiring, reflecting broad uncertainty about the future course of the economy and how it will impact corporate executive hiring plans.

In November, ExecuNet's benchmark Search Firm Hiring Index revealed that only 19 percent of 180 responding executive recruiters indicated they would be adding new professional research and consulting staff over the next three months, the same number as registered in October.

 

 
Mixed economic signals of late further reinforce the notion that executive job search and career transition will continue to require a thoughtful campaign of several months to achieve success.

The findings of a new survey by ExecuNet of 180 executive recruiters, reveal that currently employed business executives should expect to spend, on average, nearly seven months to find their next career opportunity, while those currently unemployed may require an average of just over 10 months to find their next senior-management job.

 

Published on: Wednesday, November 16, 2011

7 Truths of Career Success

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1. The most qualified candidate does not necessarily get the job offer.
Many times, candidates with lesser qualifications get job offers simply because they've prepared and presented themselves in a more compelling way. They "package" themselves better, with an outstanding portfolio of career documents and oral presentation skills. The winning candidate is the one who knows how to tie his or her achievements, strengths and assets directly to the employer's needs, problems and challenges.

In a difficult employment landscape, strong qualifications and accomplishments are necessary, but not sufficient, to find a job you love and earn what you deserve. Don't be fooled into believing that the work world is a meritocracy — it's not. In the end, it's the best self-marketer who gets the job.

 

 
In October, ExecuNet's benchmark Recruiter Confidence Index revealed that 37 percent of 139 executive search firm respondents are "confident" or "very confident" the executive employment market will improve over the next six months, up five points from September.

 

Published on: Tuesday, October 25, 2011

Should You Ask for a Step Back?

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As part of ExecuNet membership, I conduct a weekly teleconference called Six-Figure Hotline where members call in to ask the questions keeping them up at night, and to gain market and trend insight from the career experts who join me in talking about issues that are important to executives today.

In a recent teleconference a caller asked, "Once you've progressed far enough in the interview process, how aggressive do you really need to be as far as asking for the job offer? How do you respond to the question, 'Is this job enough for you?' How do you counter the fact that a position may be a step back, but you really want the role for a variety of reasons, (e.g. great company, advancement opportunity, industry, etc)?"

Here's what I told him:

 

Published on: Monday, October 10, 2011

Recruiter Confidence Slides on Economic Volatility

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In September, ExecuNet's benchmark Recruiter Confidence Index revealed that 32 percent of executive search firm respondents are "confident" or "very confident" the executive employment market will improve over the next six months, down four points from August. The percent of recruiters who were "not confident" the market would improve moved to historically high levels of 20 percent.

"Our latest data suggests savvy executives who think a career move may be in the cards as well as those already engaged actively in management job search should be cultivating their professional networks because it could be a longer process than they expect," says Mark M. Anderson, president and chief economist of ExecuNet. "The economy certainly isn't doing them any favors, but opportunity favors those who know what it takes to influence the hidden job market because the most attractive executive leadership roles aren't publicly advertised online or in print."

 

Published on: Wednesday, September 07, 2011

Economic Uncertainty Weighs on Recruiter Confidence

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In August, ExecuNet's benchmark Recruiter Confidence Index revealed that 36 percent of executive search firm respondents are "confident" or "very confident" the executive employment market will improve over the next six months, down six points from July.

 

 
While much of the country is focused on the health of the broader economy, one forecast of management-level job creation suggests hiring activity for top management roles may continue through year-end despite the uncertainty that has held up other corporate spending plans.

In August, 26 percent of 126 executive recruiters polled by ExecuNet reported they expect companies to leverage the economic climate over the next six months by adding new executive-level jobs.

Also, 37 percent forecasted companies will "trade up" with new hires for existing management jobs to improve leadership bench strength. Another 27 percent indicated companies would elect not to add new management jobs, while seven percent anticipated employers would choose to avoid filling current management-level vacancies. Three percent of recruiters expect companies to further cut top jobs.

 

Published on: Monday, August 01, 2011

Summer Dip in Executive Hiring

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In July, 26 percent of 154 executive recruiters polled by ExecuNet reported they expect companies to leverage the economic climate over the next six months by adding new executive-level jobs. Also, 44 percent forecasted companies will "trade up" with new hires for existing management jobs to improve leadership bench strength. Another 17 percent indicated companies would elect not to add new management jobs, while 10 percent anticipated employers would choose to avoid filling current management-level vacancies. Three percent of recruiters expect companies to further cut top jobs, up from 1 percent in June.

 

Published on: Friday, July 29, 2011

Networking May be Old School but it’s Still Ivy League

Posted By: Dave Opton
Filed Under: networking, dave opton, job search, executive employment
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We at ExecuNet keep our eyes glued to emails and our ears attached to the phones, as we communicate with members constantly on a daily basis. Behind all the graphics are the individual stories of not just what happened, but more importantly, how it happened.

I like to keep my eye on the "how," because with all the hype around the Internet one would think that's the only way people make job changes. These days, if you say the word networking it sounds so yesterday. This type of thinking just makes me shake my head, because ever since ExecuNet was started over 23 years ago we have never stopped pounding the networking drum as the route by which most of our members make a change.

 

Published on: Wednesday, July 27, 2011

Recruiter Confidence Dips Amid Economic Uncertainty

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In July, ExecuNet's benchmark Recruiter Confidence Index revealed that 42 percent of 154 executive search firm respondents were "confident" or "very confident" the executive employment market will improve over the next six months, down 12 points from June.

 

Published on: Monday, June 27, 2011

Recruiter Confidence Sags Amid Mixed Economic Signals

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ExecuNet's benchmark Recruiter Confidence Index revealed that 54 percent of 153 executive search firm respondents were "confident" or "very confident" the executive employment market will improve over the next six months, down 12 points from May.

A string of mixed economic indicators and continued challenges related to unemployed weighed on recruiter confidence, which nonetheless remains in positive territory and which has trended very positively over most of the past 12 months.

 

 
Executive job seekers and employed managers considering a career move would be wise not to put their career planning and professional networking on the shelf this summer.

Two leading indicators of projected executive job market expansion — a monthly forecast of management-level job creation and a separate reading on recruiter confidence — suggest continued hiring activity through the summer and fall. Recruiters expect 80 percent of employers to recruit for new management roles or trade up with new hires for existing roles.

 

 
A leading indicator of where executive hiring will go this summer and fall remains decidedly positive. In May, ExecuNet's benchmark Recruiter Confidence Index revealed that 66 percent of 162 executive search firm respondents were "confident" or "very confident" the executive employment market will improve over the next six months, up one point from April.

"In some years past, we've seen a seasonal slowdown in executive hiring activity due in part to corporate interviewers and/or management job candidates taking vacations," says ExecuNet President and Chief Economist Mark Anderson.

 

 
In April, ExecuNet's benchmark Recruiter Confidence Index revealed that 65 percent of 192 executive search firm respondents are "confident" or "very confident" the executive employment market will improve over the next six months, up four points from March.

Two leading indicators of future executive job market expansion — a monthly reading on recruiter confidence and a separate forecast of executive job creation — remain decidedly strong in the face of a variety of cautions about the continued growth of the broader economy.

 

Published on: Wednesday, April 06, 2011

Recruiter Confidence Showing Signs Of Strength

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Two leading indicators of future executive job market expansion – a monthly reading on recruiter confidence and a separate forecast of executive job creation – remain decidedly strong in the face of a variety of cautions about the continued growth of the broader economy, based on market research by ExecuNet.

In April, ExecuNet's benchmark Recruiter Confidence Index revealed that 65 percent of 192 executive search firm respondents are "confident" or "very confident" the executive employment market will improve over the next six months, up four points from March.

 

 
Executive recruiters' six-month forecast of growth of executive hiring activity softened in February but remains buoyant as client corporations continue to hire selectively for new management leadership roles and upgrade with new hires for existing roles.

In February, ExecuNet's benchmark Recruiter Confidence Index revealed that 68 percent of 164 responding executive recruiters are "confident" or "very confident" the executive employment market will improve over the next six months. That was down seven points from January but still far above the territory this index ranged in over much of the past year.

 

 
Confidence among executive recruiters continues to climb as an increase in management recruiting activity confirms that more companies are thinking about growth in 2011, and more business leaders are poised to explore their career options.

In January, ExecuNet’s benchmark Recruiter Confidence Index revealed that 75 percent of 188 responding executive recruiters are "confident" or "very confident" the executive employment market will improve over the next six months, reflecting a five-month surge in recruiter confidence in increased executive hiring activity.

 

Published on: Thursday, December 23, 2010

Recruiter Confidence Extends Upward Trend

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Two-thirds of executive recruiters believe that companies will hire more management talent over the next six months despite continued pressure to contain corporate headcount.

With fewer companies slashing executive-level jobs and more of them identifying skill set needs and gaps in talent that could prevent them from achieving corporate objectives in 2011, recruiters expect companies to do more management hiring if only to replace underperforming leaders with those more qualified to tackle shifting job responsibilities.

In December, ExecuNet's benchmark Recruiter Confidence Index revealed that 66 percent of 144 responding executive recruiters are "confident" or "very confident" the executive employment market will improve over the next six months, up five points from November and the highest confidence registered since the second quarter of 2008.

 

 
There are a lot of hardworking yet highly unsatisfied management executives walking the halls of corporate America these days.

Just don't expect them to tell you so, or anyone else, for that matter, unless you're an executive recruiter. After all, they're not working long hours and occasional nights and weekends with limited resources in search of the casual opportunity just to tell their existing employers and colleagues that they're already lining up their options for a new job elsewhere.

Employers and colleagues will find out just as soon as he or she accepts an offer of employment from another company — and then, in typical fashion, they'll scramble to pick up the pieces and search for a replacement whom, if recruited from the outside, may not be found for six to 12 months.

 

 
Executive recruiters are gaining confidence that economic growth, increased consumer spending and growing investor confidence will weigh positively on corporate business objectives — and management hiring plans — over the next six months.

In November, 61 percent of the 147 search firm respondents to ExecuNet's benchmark Recruiter Confidence Index expressed they were either "confident" or "very confident" the executive employment market will improve during that time, based on their read of corporate hiring plans stretching well into 2011.

 

 
Healthcare, High-Tech Lead Modest but Sustained Hiring Recovery

ExecuNet's benchmark Executive Job Creation Index (EJCI) held positive for a ninth consecutive month in September, reflecting the slow but continuing rebuild of many corporate management teams.

The rate of hiring among employers expected to add executive jobs in the next six months outpaced those planning to eliminate or postpone filling top roles by seven points, extending a positive trend but still weighed down by employer hesitancy to hire for top jobs.

The September Job Creation Index, based on an ExecuNet survey of 147 executive recruiters, reveals that executive recruiters anticipate 44 percent of companies will leverage the economic climate by selectively "trading up" management talent with new hires for existing executive roles, and 23 percent will add new leadership roles.

 

 
ExecuNet's Executive Job Creation Index (EJCI) dropped seven points in August, reflecting slower business hiring activity anticipated in the next six months. However, the rate of hiring among those who expect to add executive jobs in the next six months outpaced those planning to eliminate or postpone filling top positions by four points, reflecting a positive — if cautious — hiring trend.

The August EJCI data, based on an ExecuNet survey of 181 executive recruiters, revealed that executive recruiters anticipate 53 percent of companies will leverage the economic climate by selectively "trading up" management talent with new hires for existing executive roles, and 20 percent will add new leadership roles.

 

 
Executive-level hiring forecast by US recruiters remained positive for the seventh consecutive month, with companies expected to add more management jobs than they plan to eliminate in the next six months, according to ExecuNet's July Executive Job Creation Index.

"As job creation continues at a slow and steady pace, the real story is in the amount of quiet hiring going on," noted ExecuNet President and Chief Economist Mark Anderson. "The hidden job market is growing. Half of the hiring reflected in the survey is to replace or upgrade existing roles to fit new corporate growth strategies and talent needs."

 

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