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www.execunet.com – March 16, 2006 – ExecuNet, the executive job search and recruiting network, released the results of its fourteenth annual survey of executives, search firms, and corporate recruiters in the 2006 Executive Job Market Intelligence Report. With a surge in executive demand sparking a new war for talent, the report provides a look at the latest trends and developments in executive employment through the eyes of the market's most active participants.
According to simultaneous surveys of 1,805 executives, search firms, and corporate recruiters conducted by ExecuNet in the first quarter of 2006, 86 percent of executive recruiters and 80 percent of corporate recruiters say the war for talent heating up, and nearly half of all executives are expecting high levels of turnover on their management teams.
"Two years of double-digit job growth is beckoning executives out of their routines and creating a significant swing in the balance of power between candidates and companies," says Dave Opton, CEO and Founder of ExecuNet. "If job growth continues at this pace, the hiring headaches that are starting emerge at many companies will quickly become migraines."
Employment Market Outlook Remains Strong: Executive search firms project a 27 percent increase in job assignments for 2006. The resurging High Tech market, Financial Services, and Business Services industries are expected to drive much of this growth.
Search Industry Expands To Meet The Needs Of A New Market: 88 percent of search firms have either added staff in the past three months or plan to do so in the three months ahead.
Turnover On The Rise: The average executive tenure falls to 3.3 years – down from nearly 4 years during the last war for talent. Nearly one-in-five newly placed executives fail in their first year on the job.
Executive Compensation Swells As Companies Become More Aggressive: Guaranteed severance was included in 26 percent of pay packages during the past twelve months – up from 14 percent just one year ago. Nearly four-in-five executive job offers include a performance bonus.
For an outline of these trends and many others, including market growth projections, the fastest growing occupations and regions, current executive job satisfaction levels, the most effective job search strategies, and the qualities the best candidates have in common, a free executive summary of 2006 Executive Job Market Intelligence Report can be downloaded at www.execunet.com/report2006.
"A transformation in the executive employment market is underway - we've already experienced a 30% increase in executive jobs since the turn of the year," says Mark Anderson, President of ExecuNet. "There's no question knowledge is power in this arena. Understanding how and why the employment market is changing is vital to gaining a competitive advantage over your peers – regardless of whether you're interested in finding a new job – or the best candidates."
Partners in this year's Executive Job Market Intelligence Report include: Financial Executives International, the Human Capital Institute, What's Next, and Zoom Information, Inc.
ExecuNet, the original career management and recruiting network for top executives and recruiters, is a recognized authority in executive hiring and recruiting trends. ExecuNet helps members identify career opportunities and attain professional success by providing exclusive job postings, opportunities and tactics designed to expand personal and professional networks, and career advancement strategies.
Founded in 1988, ExecuNet also serves recruiters and corporations as a leading source of top-tier executive talent and proprietary research. For more information on ExecuNet visit www.execunet.com
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