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Contact: Mark M. Anderson, President & Chief Economist Mark.Anderson@ExecuNet.com
203-750-1030, ext. 126
Despite A Slowing Economy, Demand for Executive Talent Expected To Increase in Second Half of 2008
www.execunet.com — July 1, 2008 — While data on the declining value of homes and soaring energy and food prices continues to fuel speculation that the US economy is on the brink of recession, executive search firms believe job growth at the top of the employment market will remain resilient, according to ExecuNet's Recruiter Confidence Index (RCI). The RCI, which increased steadily during the past four consecutive months, remained just off its highest levels in nearly a year in June.
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 business leaders. Independent analysis of the RCI has confirmed it is a leading indicator for the executive search industry.
According to June's survey of 138 executive recruiters, 64% are confident or very confident the executive employment market will improve during the next six months — down slightly from 66% in May, which marked a 10-month high for the Index. Nearly four-in-five recruiters (78%) are expecting at least a 10% increase in assignment growth during the second half of 2008.
Confidence in the Executive Employment Market Next Six Months
"After hitting a bottom in January, the outlook for the executive employment market has rebounded, as companies continue to actively recruit seasoned business leaders," says Mark Anderson, President of ExecuNet. "If the pace of job growth at the top of the market maintains its current trajectory, C-suite executives with strong networks should see an increase in interview opportunities during the second half of this year."
Recruiters' short-term confidence increased in June, as 52% were confident or very confident the executive employment market will improve during the next three months — up from 49% in May. During this period of time, 44% of executive search firms plan on hiring additional staff.
Founded in 1988, ExecuNet 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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