ExecuNet Survey Results
For the past 15 years we have participated in a survey with ExecuNet, an organization that works with executives whose incomes exceeds $100k. They provide career opportunities and tips for networking as well as providing meetings for executives to connect.
Their Recruiter Confidence Index has stabilized at 50% after dipping to lows of 39% last December. Importantly, only 6% of recruiters are NOT confident that the market will improve in the next 6 months.
Recruiters also report that 50% of companies are interested in trading up for talent and 1 in 4 are looking to add executive jobs in the next 6 months. These are fairly strong indicators of the executive hiring market for the next few months.
Looking ahead to the next 6 months, the top functional growth areas are Business Development and Sales. Since last year at this time, operations, engineering and marketing jobs seem to have increased growth expectations moving up in the rankings.
Top Growth Markets by Function (Last Year’s Rank)
Business Development (1)
Operations Management (including QA, Supply Chain) (4)
Looking ahead to the next six months, Healthcare and Technology reign as the top industry growth areas, followed by manufacturing, business and professional services and private equity. Pharmaceuticals dropped out of the top 5 for the first time in several years.
Top Growth Markets by Industry (Last Year’s Rank)
Business & Professional Services (8)
Venture Capital/Private Equity (15)
Financial Services (5)
Internet & eCommerce (13)
Clean Green Technology (7)
Executive recruiters also noted that they expect to see the greatest growth in executive hiring in companies with 200-999 full-time employees. In the Iowa and Illinois region outside of Chicago there are not many companies that fit those parameters. Most executives who want to make a career move are forced to look outside the region if they wish to stay within their specific industry because there is no concentration of any one industry. Healthcare and manufacturing in some cases are an exception where experience is transferable.