Career Corner: A Monthly Executive Search Firm News Article Series.
Executive Level Jobs Expected to be in the Green in 2010
February 1st, 2010
Recruiters appear to be very optimistic as the new year begins to show what it has in store for the job market. ExecuNet, an organization that is used by recruiters and executives for networking, reported that more than half of the recruiters surveyed believed that they were expecting an increase in executive-search assignments by about 19 percent. This is expected to be the largest percentage increase since the beginning of 2008. This comes as a slight sign of relief to both job seekers and recruiters alike, as many people struggled to stay afloat over the past two years. These predictions are a direct result of what appears to be the beginning of a turnaround for the market. Companies that used to have a freeze on hiring are beginning to hire new people again as they are expecting business to expand.
Based on past experiences, the ExecuNet survey of recruiter confidence has been a very good indicator of future performance. Looking back to the second half of 2003, recruiter confidence showed an increase of about 40 percent and the economy began a hasty recovery within the following six months. Experts believe that history will repeat itself. One of the reasons for the expected increase in executive level positions has something to do with the number of executives who are expected to be retiring this month, according to John Wood an executive recruiter. Most of these individuals were expected to retire a couple of years ago, but then postponed their plans because of the effect that a change in position might have on their company during such rough times. Now that many executives are feeling optimistic about the future, they are more likely to step down and allow someone else to fill their roll in the company.
Another key indicator that things are improving is not only the fact that the ExecuNet survey shows it, but also the fact that the number of jobs posted on ExecuNet has increased. According to Mark Anderson, president and chief economist for the company, there are currently around 2,500 executive level positions available on the website which is 20 percent more than there were in July. It is very important to pay attention to this increase, as it is projected to rise even further in the coming months. This increase shows that companies are finally beginning to hire more people again after about 2 years of cutbacks.
An increase in the number of executives being hired will also result in an increase in the number of employees who hold positions lower down on the corporate ladder. It doesn’t make sense to hire a leader if that individual as nobody to lead. A survey conducted by CareerBuilder.com that encompassed 2,700 hiring managers and human-resources professionals indicated that 20 percent of employers plan to add full-time employees in 2010, which is up from 14 percent in 2009. The survey also showed a decrease in the number of hiring managers who are expecting to slim down their work force this year.
Although this is a good start, it’s not time to kick back and relax just yet. According to USA Today, the number of companies that are hiring is starting to increase now, but they are not expected to reach the levels that they were once at until late 2011 or 2012. So this is the time to be aggressive and show why you are qualified for the positions that are becoming available, because the market still has a long way to go. Even though this is probably not going to be the year that will save everybody from the recession, people should look at the year to come with their chin held high. 2010 will be a year of confidence building for many folks who have been searching for jobs over the past years and months. Even for those who are still not able to find a job in 2010, there is still a positive that will come from the increase in the number of jobs available. For many people who have been out of the mindset of job searching and selling themselves in an interview, this increase in the number of available jobs will offer up many more opportunities to gain much needed interview experience. It will allow these jobseekers to have more opportunities to interview and increase their interview skills instead of just having their resume tossed in the reject pile.
Another huge bonus of the projected increase in jobs through 2010 is that this trend will continue in the years to come. Many individuals can begin to see the light at the end of the tunnel, and realize that the recession will come to an end eventually. According to the CareerBuilder.com survey that was previously mentioned, professionals in the customer service, sales, research and development, finance, and marketing sectors can expect to see more drastic increases in job availability. If these sectors are beginning to make an increase in the coming months, other departments are sure to follow in step. |
