ExecuNet’s Executive Job Creation Index (EJCI) dropped seven points in August, reflecting slower business hiring activity anticipated in the next six months. However, the rate of hiring among those who expect to add executive jobs in the next six months outpaced those planning to eliminate or postpone filling top positions by four points, reflecting a positive – if cautious – hiring trend.
ExecuNet’s EJCI is based on a monthly survey of executive search firms and reflects responding executive recruiters’ expectations of how companies are managing their executive talent needs. The Index compares the number of companies expected to add executive positions over the next six months versus those planning to downsize their management teams or delay filling vacant management roles.
The August EJCI data, based on an ExecuNet survey of 181 executive recruiters, revealed that executive recruiters anticipate 53 percent of companies will leverage the economic climate by selectively “trading up” management talent with new hires for existing executive roles, and 20 percent will add new leadership roles.
That hiring appetite was tempered, however, as the number of recruiters expecting companies to wait to fill executive job vacancies increased to 13 percent in August from seven percent in July. An additional 11 percent of companies are expected to maintain their current management staffing, while 3 percent are expected to eliminate executive roles through the end of 2010.
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.