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The State of the Executive Job Market -- 2008 Lauryn Franzoni Vice President & Executive Editor January 9, 2008
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2 1988: “There has to be a better way…” Dave Opton founded ExecuNet to create a confidential, respect- motivated Career, Business & Recruiting Network Senior Execs & Career Professionals Join As Members ▬ Stay alert to opportunities, keep track of salaries ▬ Connect with peers, experts & recruiters to build their networks ▬ Keep informed about trends, get business answers, resources & network Executive Recruiters Join As Members ▬ Source top active & passive candidates; ▬ Build pipeline to talent & potential clients ▬ Proactively connect with execs, experts & peers to build their networks ▬ Keep informed about trends, best practices & tools & resources
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3 26,000+ Accomplished Executives High Level: CEO/COO/Pres Other C-Level VP-Level
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4 ExecuNet Membership In Key Functional Areas:
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5 Growing Industries In Growth Industries: 25.0% 12.0% 10.4% 8.2% 9.5% 11.3% 5.4% 2.1% 12.6% 9.9% 2.7% Incl. Defense, Telecom, & Aerospace Incl. Manufacturing & Automotive
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6 Who’s Actively Recruiting? 1.Are you responsible for recruiting for executive and/or senior level positions in your company? 2.Company Size: Yes: 82.0% No: 18.0% Very large (Greater than $500M in sales) Start-up ($0 - 10M in sales) Medium ($51 - 200M in sales) Small ($11 - 50M in sales) Medium to large ($201 - 500M in sales) 51.4% 12.8% 11.9% 9.2% 14.7%
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7 Strong Demand For Executive Talent Executive Search Assignment Growth 2000 – 2007 (percent change from previous year) 2000 24% 2001 (17%) 2002 (20%) 2003 ( 4%) 2004 12% 2005 26% 2006 24% 2007 27% projected
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8 Search Industry’s 2008 Outlook Is Positive
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9 Where The Jobs Are Fastest Growing Executive Job Markets By Industry 1. Life Sciences 2. Healthcare 3. High Tech 4. Manufacturing 5. Financial Services/Banking
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10 Where The Jobs Are Fastest Growing Executive Job Markets By Function 1. Business Development 2. Sales 3. Operations Management 4. Marketing 5. Engineering
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11 Where The Jobs Are Fastest Growing Executive Job Markets By Region 1. South/Southeast 2. West Coast 3. Southwest (including Texas) 4. Metro NYC (NY, CT, NJ) 5. Mid Atlantic
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12 Uncertainty Fuels “Hidden” Job Market Advertised Jobs Looming Hires Problems in Search of Solutions
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13 Executive Sourcing Strategies How Are Candidates / Jobs Being Found? Search Firms Companies Execs Networking 53%49% 64% Online research (excl. job boards) 20%16% 5% Online job postings 13% 20% 15% Firm’s database/resume files 10% 8% 5% Advertising 4% 6% 4%
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14 “Successful Executives have Wide Networks of Meaningful Connections” 85% strongly agree PersonalBusiness Peer 2 Peer
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15 Search Firms’ Online Research On The Rise 200520062007 Percentage of Firms Using Search Engines To Learn More About Candidates 75%77%83% Percentage of Firms That Eliminated A Candidate Based On Information Found Online 26%35% 43%
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16 What Are They Using? Major search engines & info services to target individuals or groups ▬ Google, Yahoo, Technorati ▬ Hoovers, Corporate Information, Dow Jones & various online business databases Aggregators & services amassing information without verification ▬ ZoomInfo, Broadlook ▬ Preople and other sales contact sourcing/information gatherers Business networks with user developed & controlled profiles ▬ LinkedIn: Broad public network of middle & upper mgmt profiles ▬ ExecuNet: Private network solely for senior execs
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17 Online Branding Is Opening Doors 70% of executive recruiters said that a candidate’s job prospects improve when positive information is found online ▬ Leadership roles ▬ Published articles/thought leadership ▬ Awards, recognition
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18 Executives Are Responding 20% of executives have taken proactive steps to create a positive web presence – up from 13% in 2006. 14% of executives currently have a website to display resume, articles, press mentions and professional accomplishments – up from 9% in 2006
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19 Are You In The Game? Your reputation is on-the-line, too ▬ Be prepared: Know what others will see about you ahead of time so you know the positives & negatives ▬ Monitor your Moniker: Set up a Google Alert (google.com/alerts) and a Yahoo! Alert (alerts.yahoo.com) Set up an RSS feed or Technorati Watchlist ▬ Create a positive online presence to counter any negatives ▬ Control the conversations: Address issues upfront to explain negatives Get engaged in the right networks & websites ▬ Only 40% of corporate recruiters have established profiles ▬ Fewer are managing their online reputations to advantage
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20 Want A Copy of the 2008 Report Or More…. Want a copy of the slides, a full copy of the 2008 Executive Job Market Intelligence Report, a copy of Dealing With Your Digital Dirt v. 2.5 or more information about ExecuNet: Contact me at: Lauryn Franzoni Vice President ExecuNet lfranzoni@execunet.com 203-750-1030, Ext. 142
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