ExecuNet's Recruiter Confidence Index (RCI) surged 16 points higher in May, as the executive search industry's outlook for the employment market improved for the third consecutive month amid signs that economic conditions are stabilizing. The RCI now stands at its highest level since June 2008.
Introduced in May 2003, the Recruiter Confidence Index is based on a monthly survey of executive search firms conducted by ExecuNet (www.execunet.com), a private network for business leaders. Designed to forecast job growth at the executive level, a reading above 50 percent indicates recruiters expect the number of search assignments in the next six months will increase. Independent analysis of the RCI has confirmed it is a leading indicator for the executive employment market.
According to May's survey of 143 executive recruiters, 57 percent are confident or very confident the executive employment market will improve in the next six months - up from 41 percent last month. During this period of time, 67 percent of all executive recruiters expect at least a 10% increase in search assignments received from corporate clients.
Conditions have clearly changed, says Mark Anderson, ExecuNet president and chief economist. We can now see the first clear signs of a recovery indicated by responses that are similar to what we saw coming out of the last recession in the second quarter of 2003. Executive recruiters expect hiring to increase as we move toward the end of the year. For executives interested in making a change, now is the time to come off of the sidelines.
Recruiters' short-term confidence remained virtually unchanged in May, as 19 percent report being confident or very confident the executive employment market will improve during the next three months - up from 18 percent in April.
Recruiters who earlier this spring had a much more negative outlook, are now clearly seeing signs of new hiring from their client companies, Anderson says. However, it is going to take a few months for those business plans to affect the demand for talent.
Founded in 1988, ExecuNet is a private network for business leaders who believe that the right connections can produce extraordinary results in their careers and organizations. A recognized authority in executive recruiting and human capital, ExecuNet provides members access to confidential six-figure job opportunities, proprietary research, and pragmatic advice.
Recruiter Confidence Climbs To Highest Level In Eleven Months
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