Recruiters Anticipate Slow Year for Executive Hiring Ahead

Recent reports revealing a slide in consumer spending and corporate profits appear to be tempering expectations for a mid-year turnaround in the executive employment market, as ExecuNetís Recruiter Confidence Index (RCI) decreased for the second consecutive month in February.

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 below 50% 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.

According to Februaryís survey of 164 executive recruiters, 28 percent are confident or very confident the executive employment market will improve in the next six months – down from 36 percent last month. This decline in confidence was driven by a shift from ìvery confident and confidentî to ìsomewhat confident,î indicating that new assignments have slowed as companies put hiring plans on hold.

ìA growing number of executive recruiters believe a turnaround in the employment market will occur closer to the end of 2009,î says Mark Anderson, President of ExecuNet. ìWhile recruitersí outlook for the first half of the year has become more bearish, the jobs posted in our membership in non-cyclical industries including consumer staples, medical devices, healthcare, and government are generating more new opportunities this year than in 2008.î

Recruiters donít see their business prospects changing in the next few months, as their short-term confidence also slipped. In February, just 12 percent of recruiters reported being confident or very confident the executive employment market will improve during the next three months – down from 16 percent in January.

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.