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www.execunet.com — December 14, 2006 — Amid conflicting reports on the strength of the U.S. economy, executive search consultants say the executive employment market is robust, as ExecuNet's Recruiters Confidence Index (RCI) rose to its highest level ever in November. Soaring confidence in the employment market through the first half of next year appears to be fueled by strong corporate profit growth.
Introduced in May 2003, the Recruiters Confidence Index is based on a monthly survey of thousands of executive recruiters conducted by ExecuNet (www.execunet.com), the leading executive career, business and recruiting network. Independent analysis of the RCI has confirmed it is a "leading indicator" for the executive search industry.
According to the survey of 132 executive recruiters, 80% are confident or very confident the executive employment market will improve during the next six months – up from 72% last month. This increase in confidence represents the largest one-month gain in 2006.
Confidence In The Executive Employment Market
Next Six Months
"For executives thinking about exploring new career options - this is definitely a great time to take action," says Mark Anderson, President of ExecuNet. "In addition to a considerable increase in the number of opportunities available, executive compensation packages continue to expand as companies look to increase their competitiveness in a new war for talent."
Executive recruiters' short-term outlook was also more optimistic in September – 83% of recruiters said they are confident or very confident the employment market will improve in the next three months – up from 76% in August. During this period of time, the executive search industry is expecting a 22% increase in the number of six-figure job assignments received from corporate clients.
In an effort to keep up with the rapid pace of growth in the executive employment market, search firms continue to expand to better meet the needs of clients. In September, the majority of executive recruiting firms (60%) reported plans to hire additional professional staff in the next three months, which is considerably higher than the number of firms that added staff during the past three months (43%).
"A new war for talent has a growing number of executives exploring the market in search of better opportunities," says Mark Anderson, President of ExecuNet. "With recruiters growing more bullish as 2007 approaches, turnover could be brisk in the first half of the year – particularly among MIS/IT, sales, and marketing executives."
Recruiters' short-term outlook also improved significantly in November, as 77% said they are confident or very confident the employment market will improve in the next three months – up from 71% in October 2006. During this period of time, the executive search industry is expecting an 18% increase in the number of six-figure job assignments received from corporate clients.
Recruiters' bullish assessment of the executive employment is well supported by their own business plans. In November, nearly half (48%) of all search firms reported they intend to hire additional professional staff during the next three months.
ExecuNet, the leading executive career, business and recruiting network, provides exclusive access to confidential six figure job listings, expert advice, and high-level business connections for professionals while helping corporate and search firm recruiters find qualified executive candidates. Founded in 1988, ExecuNet helped transform the executive recruiting industry by launching the first website designed to bring senior-level professionals and search firms together in a cooperative and confidential environment.
Based in Norwalk, Connecticut, ExecuNet is a recognized authority in executive recruiting trends and proprietary employment market research. For more information, visit www.execunet.com.
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