Positive Job Creation Indicators Revealed in the 20th Anniversary Executive Job Market Intelligence Report
Companies are planning on growth, both via new management hires and trading up new hires for existing executive roles to fill gaps or improve teams. Recruiters weighed in on executive job creation reporting they expect 51 percent of employers will be adding headcount through “trading up” with new hires for existing executive jobs and 27 percent will create new executive roles over the next six months. Only 2 percent of companies surveyed intend on continuing the management cutbacks that have been in effect during the economic downturn.
Businesses are focusing on enhancing sales, business development, sales enablement and marketing teams. General Managers too are being added, with a particular emphasis on individuals with the ability to build and lead high-performance teams, possessing industry-specific experience with strategy and execution leadership. Additional highly sought after skills include functional/technical experience, problem-solving and ability to be a change agent. Recruiters find challenges in locating executives with a record of innovation and turnaround experience.
The increasing competition for executive talent has led employers to be more strategic about executive retention. Recruiters are finding that employers are increasing salaries, bonuses and counter-offers to keep top performing talent. And while compensation is the foundation of the employment relationship, many employers are striving to improve and communicate the value the company offers in terms of work/life balance, advancement potential, the employer’s brand, the industry space, as well as the team.
The top industry expected to lead executive job growth for the third year in a row is Healthcare. High Technology remains in the top three for the third year, placing second. The big move is that manufacturing is expected to be the third biggest engine for executive job growth, having moved up from 10th three years ago. Business Services, Energy/Utilities, Life Sciences, Consumer Products, Internet/Online Services, Clean/Green Technology, and Financial Services in that order round out ranking three to ten.
“The ExecuNet report is spot on in terms of the opportunities and challenges we are seeing in the High Technology sector in which we recruit,” confirms Leah O’Flynn, Executive Recruiter, IT Division at Redfish Technology. “Our greatest successes continue to come from the personal and professional relationships we’ve built by networking with executive talent on a daily basis.”
The ExecuNet Executive Job Market Intelligence Report covers these and other executive job creation market data in much more detail. Check it out in its entirety at: http://www.execunet.com/r_trends_survey.cfm
About the ExecuNet Report:
ExecuNet’s 20th annual market intelligence briefing, 2012 Executive Job Market Intelligence Report, is based on simultaneous surveys of ExecuNet’s executive members and the executive search firms and corporate recruiters who regularly engage ExecuNet’s candidate sourcing services. In addition, we invited participation from the executive, search firm and corporate human resource communities of strategic partner organizations: Forbes; CMO.com; WOBI, a powerhouse of actionable ideas from people shaping the business world; and Dillistone Systems, publishers of search-consult.
About Redfish Technology:
Redfish cut its teeth in high tech in the Silicon Valley starting in 1996, and continues to enjoy long lasting relationships with companies of all sizes from start-ups to Fortune 50 companies. The company offers nationwide executive talent search and staffing services, and boasts offices in Silicon Valley, the East Coast, and the Intermountain West. Redfish specializes in talent acquisition in the High Tech and Green Tech / Alternative Energy sectors.