Nearly two-thirds of executive recruiters expect the executive employment market to expand over the next six months, as strategic leadership hiring accelerates and fewer employers resort to management layoffs to weather an uneven economic recovery.
In May, ExecuNet’s benchmark Recruiter Confidence Index (RCI) revealed that 65 percent of 185 responding executive recruiters are “confident” or “very confident” the executive employment market will improve over the next six months. This marks the second consecutive month the RCI has remained above 60 percent.
Recruiter Confidence in the Executive Employment Market
Next Six Months
Source: ExecuNet.com
Introduced in May 2003, ExecuNet’s Recruiter Confidence Index is based on a monthly survey of executive search firms and recognized as a leading indicator for the economy and the executive job market. A reading above 50 percent indicates recruiters are “confident” or “very confident” the number of executive search assignments launched by employers in the next six months will increase.
“Executive recruiters’ see management hiring improving as the U.S. economy continues to rebound,” says Mark Anderson, President and Chief Economist of ExecuNet, the private membership network for senior business executives and those who recruit them. In the short term, recruiter confidence has increased by 20 percent since the first quarter and is at its highest level since June 2008. “After a prolonged pause, we’re seeing more executive hiring activity in manufacturing, and our data continues to reveal that more companies are creating new executive roles or ‘trading up’ with new hires for existing leadership roles and fewer resorting to management cutbacks,” Anderson explains.
Where The Jobs Are
During the next 12 months, executive recruiters expect an 18 percent increase in search assignments received by corporate clients. The industries expected to generate the greatest growth in six-figure jobs during this period of time include:
1. Healthcare
2. Clean/Green Technology
3. Energy/Utilities (tie)
4. Manufacturing (tie)
5. Life Sciences (Pharmaceuticals, Medical and Biotech)
The top five management functions expected to be in the greatest demand during the next 12 months include:
1. Business Development
2. Sales
3. Engineering
4. Operations Management
5. General Management
Founded in 1988, ExecuNet is a private membership 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. For more information, visit www.ExecuNet.com.
