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Executive Hiring Not Expected To Slow This Holiday Season
www.execunet.com — November 13, 2006 — Entering the last quarter of the year, a time not traditionally associated with exceptional job growth, ExecuNet's Recruiters Confidence Index (RCI) remains near its record high, as search firms continue to project bullish growth for the executive employment market heading toward 2007 and beyond.
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 management 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 165 executive recruiters, 72% are confident or very confident the executive employment market will improve during the next six months -- down from 77% last month. Despite this decline, the RCI, which increased in July, August, and September, is down only slightly from all-time high of 80% last reached in March 2006. Year-over-year, the Index is up from 64% in October 2005.
Confidence In The Executive Employment Market
Next Six Months
"The U.S. economy continues to add new executive-level jobs at a brisk pace," says Mark Anderson, President of ExecuNet. "Faced with a pending shortage of qualified talent, companies are now addressing their hiring needs with a much greater sense of urgency – a trend that's put candidates back in the driver's seat."
Recruiters are also expecting a busy holiday hiring season this year – 71% said they are confident or very confident the employment market will improve in the next three months – compared with 61% in October 2005. During this period of time, the executive search industry is expecting a 23% increase in the number of six-figure job assignments received from corporate clients.
With the unemployment rate falling to its lowest level in more than five years, the executive search industry continues to expand. In October, half (50%) of all search firms reported plans to hire additional professional staff during the next three months to keep pace with job growth.
ExecuNet, the original senior executive business and recruiting network, provides exclusive access to confidential six-figure job listings, expert advice, and high-level business connections for professionals while assisting corporate and search firm recruiters to find qualified executive candidates. Founded in 1988, ExecuNet helped transform the executive recruiting industry by launching the first online community designed to bring together senior-level professionals and search firms in a confidential, trusted network.
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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