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Executive Recruiting Industry Expands As Employment Market Tightens
Outlook for Job Growth In Second Half of Year Hinges On Earnings
www.execunet.com — July 7, 2006 — With strong GDP growth fueling brisk job creation at the executive level, recruiters remain bullish on white-collar job growth during the second half of 2006. In June, ExecuNet’s Recruiters Confidence Index (RCI) remained on solid ground as search firms continue to increase the size of their staff to keep pace with increasing executive demand.
Introduced in May 2003, the Recruiter Confidence Index (RCI) is based on a monthly survey of executive recruiters conducted by ExecuNet, the leading executive job search 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 129 executive recruiters, 70% are confident or very confident that the executive employment market will improve during the next six months — down only slightly from 71% one month ago.
Confidence In The Executive Employment Market
Next Six Months
To prepare for sustained growth in the employment market, 69% of all executive search firms have plans to hire additional professional staff in the next three months - an all-time high. During the last three months, 44% of executive recruiting firms have added professional staff.
"Demand for executive talent has exceeded nearly all expectations during the first two quarters of 2006," says Mark Anderson, President of ExecuNet. "If job growth in the second half of the year can match the last six months, it will be a banner year for job seekers and the executive search industry."
Executive recruiters' short-term outlook remains strong, as 80% of recruiters said they are confident or very confident the employment market will improve in the next three months - up from 72% one month ago. 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.
The variables recruiters believe present the greatest threat to the executive employment market's growth during the second half of 2006 include:
1.Shrinking corporate profits (41%);
2.Inflation (23%);
T3. Record high energy prices (13%)
T3. Declining CEO confidence in the economy (13%); and
5.Terrorism (10%).
ExecuNet, the leading executive-level job search 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 together senior-level professionals and search firms.
Based in Norwalk, Connecticut, ExecuNet is a recognized authority in recruiting trends and proprietary employment market research. For more information, visit www.execunet.com.
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Shrinking corporate profits (41%);
