Talent Shortage Helps Shield Executive Employment Market From Economic Downturn

Despite Labor Department data pointing toward two consecutive months of contracting payrolls, demand for talent at the top of the employment market continues to expand according to ExecuNetís Recruiter Confidence Index (RCI), a leading indicator for the executive employment market.

Introduced in May 2003, the Recruiter Confidence Index is based on a monthly survey of executive recruiters conducted by ExecuNet (www.execunet.com), an exclusive network of global business leaders. Independent analysis of the RCI has confirmed it is a leading indicator for the executive search industry.

According to Marchís survey of 118 executive recruiters, 52% are confident or very confident the executive employment market will improve during the next six months ñ up slightly from 51% last month. Nearly three in four recruiters (72%) expect at least a 10% increase in search assignments during this period of time.

Recruitersí short-term confidence increased sharply in March, as 50% were confident or very confident the executive employment market will improve during the next three months ñ up from 41% in February. During this period of time, half (50%) of all search firms plan to hire additional professional staff to keep pace with the growth of the market.

ìEconomic uncertainty has not put executive job growth on hold,î says Mark Anderson, President of ExecuNet. ìWhile demand for executive talent may be increasing at a slower pace than it was just one year ago, recruiting and retaining effective leaders remains a challenge for most companies.î

Where The Jobs Are
A separate survey of 718 search firm consultants and human resources executives conducted by ExecuNet reveals that 73% believe thereís currently a shortage of qualified executive talent in the market.

Amid this growing war for talent, the industries expected to generate the greatest growth in executive-level jobs in the year ahead include:

Current Ranking - (January 2007 Ranking)

1. High-Tech - (#1)
2. Healthcare - (#2)
3. Business Services - (#3)
4. Pharmaceuticals/Medical/Biotech - (#4)
5. Energy/Utilities - (#9)

For the first time since 2001, the Financial Services industry, which ranked fifth in 2007, was not listed among the top five industries expected to generate the greatest growth in executive level hiring.

The functions expected to be in greatest demand through the end of the fourth quarter include:

Current Ranking - (January 2007 Ranking)

1. Business Development - (#1)
T2. Sales - (#2)
T2. Operations Management - (#3)
3. General Management - (#4)
T4. Finance - (#6)
T4. Engineering - (#8)
5. Marketing - (#5)

ìAfter four consecutive years of double digit job growth, the laws of supply and demand continue to work in favor of the candidate,î says Anderson. ìExecutives who are actively looking for a new position should carefully monitor the marketplace and adjust their search accordingly.î

Founded in 1988, ExecuNet brings C-level executives together online and in face-to-face meetings to discuss business challenges, solutions and professional opportunities. A recognized authority in executive recruiting and human capital, ExecuNet also provides members access to confidential six-figure job listings, proprietary research, and pragmatic advice. For more information, visit www.execunet.com.