Demand for executive talent, which climbed to a six-year high in 2006, is expected to continue to increase through at least the first half of 2007. With no end in sight for the war for talent, ExecuNetís Recruiters Confidence Index (RCI), remains near record levels to start the year.
Introduced in May 2003, the Recruiters Confidence Index is based on a monthly survey of thousands of executive recruiters conducted by ExecuNet, the executive career, business and recruiting network. Independent analysis of the RCI has confirmed it is a leading indicator for the executive search industry.
According to the survey of 240 executive recruiters, 78% are confident or very confident the executive employment market will improve during the next six months ñ down only slightly from 83% last month ñ the highest level of confidence in the Indexís history.
Next Six Months
ìThe current talent shortage is luring more and more employed executives into the market in search of better opportunities,î says Mark Anderson, President of ExecuNet. ìBased on the daily feedback weíre receiving from members landing new jobs with substantial increases in pay, voluntary turnover appears poised to soar even higher in the months ahead.î
Recruitersí short-term outlook also remains upbeat, as 78% said they are confident or very confident the employment market will improve in the next three months. This optimism is well supported by the search industryís own expansion. In January, 43% of all search firms reported plans to hire additional professional staff during the next three months. During the previous three months, 26% of executive recruiting firms added staff.
Where The Jobs Are
The industries recruiters expect will generate the greatest growth in executive-level job opportunities in 2007 include:
Current Ranking - (January 2006 Ranking)
1. Financial Services - (#3)
2. Healthcare - (#1)
3. Pharmaceuticals - (#5)
4. Manufacturing - (#8)
5. Consumer Products - (#7)
ìCompanies in the financial services and healthcare sectors are already finding it difficult to recruit and retain the talent they need to increase bandwidth,î observes Anderson.
The top five functions expected to be in greatest demand in the year ahead are:
Current Ranking - (January 2006 Ranking)
1. Sales - (#2)
2. Business Development - (#1)
3. Finance - (#3)
T3. Operations Management - (#8)
5. General Management - (#5)
ìThe demands of Sarbanes-Oxley compliance continue to generate new and lucrative job opportunities for Finance executives across nearly all industries,î reports Anderson. ìOpportunities for operations and general management executives are also on the rise as companies look to manage growth and increase productivity.î
ExecuNet, the leading executive career, business and recruiting network, provides exclusive access to high-level business connections for professionals, confidential six-figure job listings, expert advice and proprietary research while helping corporate and search firm recruiters find qualified executive candidates. Founded in 1988, ExecuNet helped transform the executive recruiting industry by launching the first website designed to bring senior-level professionals and search firms together in a cooperative, confidential environment to understand how to meet their human capital needs.
