Each year ExecuNet publishes a comprehensive report on the current status of the executive job market. As always these surveys make for interesting reading, especially the 2008 survey which suggests that even though our minds are constantly being directed to a slowdown in the economy, some key points from this report suggest otherwise.
¬ “Thanks in part to an aging workforce and global economic growth, the demand for executive talent continues to increase while the threat of recession looms.”
¬ “More than 70% of search firms and corporate human resource professionals believe that there is a shortage of executive talent, and two-thirds (67%) say war for executive talent has intensified over the last year amid increasing economic uncertainly.”
¬ “Nearly all (86% corporate human resource executives and 61% of search firms report that they do not routinely post positions with a total compensation of $200,000 and above on public websites.”
¬ “Recruiters don’t deny that age can be an issue, but 71% of search consultants say their clients are less focused on age than they were in prior years; and 57% of corporate HR executives say that when over 50, the candidate’s age is not a negative factor in hiring decisions.”
¬ “Increasing demand in High Tech, Healthcare, Energy, and Business Services sectors, combined with a shortage of qualified talent and sustained economic growth overseas, is driving better than expected job growth at the executive level.” Dave Opton, ExecuNet’s CEO and Founder states: “Unfortunately, many of the opportunities created this year will remain out of reach to those who fail to read beyond the headlines,” “However, given the current pace of change, the consequences of ignoring opportunities to enhance your network and failing to closely monitor the marketplace are clearly rising.”
Finally I think this is a very telling comment:
¬ “More than 25% of search firms added professional staff in the last quarter of 2007, and another 46% have plans to hire more recruiters in the first quarter of 2008.” Mark Anderson, President, ExecuNet comments, “ They wouldn’t be expanding if they didn’t think they would have the search assignments to support additional staff,” recalling the hard lessons in the industry in 2001.