News about job loss and unemployment rates is inescapable these days, and for many, the headlines are demoralizing.
But despite the contractions, hiring is occurring: 9 percent of the corporate human resource professionals we surveyed said their companies are leveraging the current economic climate by adding new executive-level jobs; and another 31 percent revealed that they are "trading up" with new hires for existing roles.
Executives have recognized senior-level hiring in their organizations too, with 31 percent indicating new positions or vacancies are available. Competition for these openings is tight, and to be considered a candidate, one has to stand out from the crowd and in front of the right people.
Executive search consultants credit a combination of networking and professional development as the most effective methods for getting attention and as key factors to executive success.
They suggest executives:
- Routinely build network outside company with business/industry/trade contacts
- Actively develop leadership skills
- Increase visibility/participation with industry groups
- Continue to expand functional/technical expertise
- Routinely network inside company to raise visibility
Recruiter Confidence Gains Ground as Signs of Economic Improvement Start to Emerge With some economic indicators pointing toward an easing recession, the outlook for the executive employment market is showing some improvement, as ExecuNet's Recruiter Confidence Index (RCI) inched higher for the second consecutive month in April.
Confidence in the Executive Employment Market Next Six Months
"While many recruiters are still wary about the economy, a growing number are beginning to see signs indicating that the worst of the recession may very well be over," says Mark Anderson, president of ExecuNet.
"Executive search firms, particularly those that specialize in high growth industries such as healthcare, biotech, energy, environmental services and clean technologies have seen a clear improvement in assignment growth in recent weeks."
Recruiters' short-term confidence also increased slightly in April, as 18 percent report being confident or very confident the executive employment market will improve during the next three months — up from 15 percent in March.
Introduced in May 2003, the Recruiter Confidence Index is based on a monthly survey of executive search firms conducted by ExecuNet, a private network for business leaders.
Designed to forecast job growth at the executive level, a reading below 50 percent indicates recruiters expect the number of search assignments in the next six months will decrease. Independent analysis of the RCI has confirmed it is a leading indicator for the executive employment market.
Robyn Greenspan
Editor-in-Chief, ExecuNet
Robyn.Greenspan@execunet.com
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