In 2001 overall demand for executive talent decreased by 22% compared to 2000. This decrease hit the MIS/IT function hardest with a 49% decrease in demand compared to the previous year when the increase for demand was greatest in this functional area. Demand for Human Resources executive talent plummeted 36%, followed by the drop in demand for Sales & Marketing and Consulting talent of 29% and 22% year over year.
Operations Management and Legal/Regulatory Affairs are the two functional areas that increased in demand in 2001 by 5% and 57% respectively. Although the Legal Regulatory Affairs function grew substantially this segment is significantly smaller than all other functions. The growth in this function was primarily in Regulatory Affairs professionals followed by Legal positions in the insurance industry.