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Recruiters Project Slower, Targeted Growth in Top Jobs
www.execunet.com — February 8, 2008 — Following four consecutive years of robust job growth for corporate leaders, executive search firms expect demand for top talent will expand at a slower pace in 2008, according to ExecuNet’s Recruiter Confidence Index (RCI), a leading indicator for the executive employment market.
Introduced in May 2003, the Recruiter Confidence Index is based on a monthly survey of executive recruiters conducted by ExecuNet (www.execunet.com), an exclusive network of global business leaders. Independent analysis of the RCI has confirmed it is a leading indicator for the executive search industry.
According to January's survey of 238 executive recruiters, 47% are confident or very confident the executive employment market will improve during the next six months — down from 59% last month. Despite this drop, search firms are expecting a 16% increase in search assignments during the course of the year. In 2007, executive search consultants reported a 19% increase in assignments, which marked the fourth consecutive year of double-digit growth.
Confidence in the Executive Employment Market
Next Six Months
"The top of the employment market does not always move in unison with the Labor Department’s payroll data," says Mark Anderson, President of ExecuNet. "Many of the same companies that are announcing layoffs continue to fill gaps in their executive teams, and in some industries, including healthcare, pharmaceuticals, and consumer staples there is a shortage of qualified talent."
Recruiters' short-term confidence also dropped in January, as 39% were confident or very confident the executive employment market will improve during the next three months — down from 56% in November. During this period of time, 43% of all search firms are planning to hire additional staff.
Founded in 1988, the ExecuNet career and business network brings C-level executives together online and in face-to-face meetings to discuss business challenges, solutions and professional opportunities. A recognized authority in executive recruiting and human capital, ExecuNet also provides members access to confidential six-figure job listings, proprietary research, and pragmatic advice. For more information, visit www.execunet.com.
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