With the pace of UK economic activity growing, albeit modestly, executive recruiters have become more bullish on the prospects for the employment market during the second half of 2010.
Recruiter confidence is near its highest readings since May 2008 but despite this improving outlook, most executives are not adequately prepared to leverage this growth to advance their careers.
According to a recent survey around 3000 executives with an average annual compensation of more than GBP100k, just one in three believe they are prepared for a successful job search - down from over 40% last year and around 70% in 2007.
The early stages of an economic recovery are a great time to explore new opportunities, says James Wren, General Manager Search Products & User Experience, of JobServe.
Apparently many executives are remaining on the sidelines waiting for more evidence of an economic rebound.
This strategy will inevitably stall their career development, as many rewarding, high-level roles are filled in the interim.
Wren recommends that executives take the following measures to prepare for a stronger employment market:
Revisit Your CV - Despite being an obvious first step in the job search process, only 54% of executives have recently updated their CV according to our research.
Traditionally, a CV that synthesized an executives experience into a bulleted, two-page document was sufficient. In today's increasingly competitive marketplace, CV’s that highlight experience, demonstrate ability to be a problem-solver, and offer examples and data that underscore an individual value proposition are far more effective in generating interviews and opportunities.
Strengthen Your Online Brand - Establishing a strategic online presence on public social networks and in private communities of peers and key influencers is an increasingly important step in raising an executive’s profile. Adopting best practices from successful online product marketers is helping many executives elevate their personal brands and attract new opportunities.
Invest In Your Network - The hidden executive employment market isn't a myth - companies post just 11% of all GBP 100k+ positions on public job boards or websites.
New assignments placed with job boards are lagging far behind direct company recruitment. To create more career options, dedicate a portion of every day to building relationships with contacts outside of your current company. The best networkers embody the philosophy that it is better to give than to receive, as helping others leaves a lasting imprint on your network.
While job growth is returning, you can't expect to attract quality opportunities if you're under the covers hitting the snooze button on your career, cautions Wren.
