Despite mixed economic reports, recruiters anticipate the demand for executive talent will increase during the next two quarters, according to the results of ExecuNet's Recruiter Confidence Index (RCI) released today. "There's a consensus among the nation's top recruiters that the worst is over for the executive employment market," says Mark Anderson, president and chief economist of ExecuNet. "We're already seeing an uptick in hiring, as companies look to improve their management teams with a quality of talent that wasn't readily available in recent years."
According to September's survey of 165 executive recruiters, 56 percent are confident or very confident the executive employment market will improve during the next six months — up from 49 percent last month. This also marks the RCI's second highest reading during the past 13 months.
Recruiters' short-term confidence reached a 12-month high in September, as 27 percent are confident or very confident the executive employment market will improve during the next three months — up from 24 percent in August. An equal number (27 percent) of recruiters are not confident the job market will improve during the next three months — down from 34 percent last month and the lowest reading since August 2008.
During the fourth quarter, 65 percent of all executive search consultants are expecting at least a 10 percent increase in search assignments received from corporate clients.
"Any increase in six-figure job growth is good news for executives, but clearly, finding these opportunities will be more challenging than it was before the recession," added Anderson. "Companies are less likely to advertise openings in this environment given the sheer volume of talent in the market and their focus on improving existing leadership teams. This means infiltrating the hidden job market will be more important than ever before."
Introduced in May 2003, the Recruiter Confidence Index is based on a monthly survey of executive search firms conducted by ExecuNet, a private network for business leaders. A leading indicator for the economy and the executive job market, a reading above 50 percent indicates recruiters expect the number of search assignments in the next six months will increase.
According to September's survey of 165 executive recruiters, 56 percent are confident or very confident the executive employment market will improve during the next six months — up from 49 percent last month. This also marks the RCI's second highest reading during the past 13 months.
| Confidence in the Executive Employment Market — Next Six Months |
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| Source: ExecuNet |
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During the fourth quarter, 65 percent of all executive search consultants are expecting at least a 10 percent increase in search assignments received from corporate clients.
"Any increase in six-figure job growth is good news for executives, but clearly, finding these opportunities will be more challenging than it was before the recession," added Anderson. "Companies are less likely to advertise openings in this environment given the sheer volume of talent in the market and their focus on improving existing leadership teams. This means infiltrating the hidden job market will be more important than ever before."
Introduced in May 2003, the Recruiter Confidence Index is based on a monthly survey of executive search firms conducted by ExecuNet, a private network for business leaders. A leading indicator for the economy and the executive job market, a reading above 50 percent indicates recruiters expect the number of search assignments in the next six months will increase.
