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The 2013
BlueStepsGlobal Mid-Year ExecutiveOutlook Report
About BlueSteps.com BlueSteps.com is an online career management service for global senior executives. As an exclusive service of the Association of Executive Search Consultants (AESC), BlueSteps enables senior executives to make their career profile accessible to over 8,000 retained executive search professionals who are members of the AESC and who use the database as an additional resource in their candidate and source identification process. BlueSteps members stay informed of executive job market opportunities, trends and news, and enjoy a variety of tools and resources to facilitate the successful management of their executive career path. For more information, please visit www.BlueSteps.com.
About The Association of ExecutiveSearch Consultants The Association of Executive Search Consultants (AESC) is the worldwide professional association for the retained executive search industry. The AESC promotes the highest professional standards in retained executive search consulting, broadens public understanding of the executive search process and serves as an advocate for the interests of its member firms. For more information, or to download the AESC Code of Ethics and Professional Practice Guidelines, please visit www.aesc.org.
About Corporate Connect The AESC also offers www.executivesearchconnect.com, a service for the HR community offering industry information and tools to assist with senior executive recruiting, including access to the AESC membership directory.
BlueSteps425 Fifth Avenue, 4th FloorNew York, NY 10016Phone: 1 (800) 363-1207Email: [email protected]: www.bluesteps.com
The 2013BlueStepsGlobal ExecutiveMid-Year Outlook Report
Contents:
Page 4-5: Executive Summary
Page 6: About Our Study
Page 7-8: Survey Demographics
Page 9-11: 2013 Global Executive Outlook
Page 12-14: 2013 Global Executive Mobility
Page 15-16: 2013 Executive Compensation
Page 17-18: 2013 Executive Opportunities
Page 19: The Global War for Talent
4 Mid-2013 BlueSteps Global Executive Outlook Report
Mid-2013 Executive Job Market OutlookThe 2013 Mid-Year BlueSteps Executive Outlook shows that the majority of global senior executives share a neutral (42%) to positive (38%) outlook regarding the global executive job market for the remainder of 2013. 20% of executives surveyed harbor a negative view of the executive job market during the second half of 2013.
Even though the majority of senior executives had a neutral to positive outlook, many executives still see the outlook as negative for reasons including ageism, lack of gender diversity and the volatile economy, particularly in Europe.Specific comments included:
“I am shocked at how soft employment is for anyone over 55; it used to be that experience worked toyouradvantageandnowitisvirtuallyaliability,especiallywithP/Efirms.Ageismisareality!”
“Iamconcernedwithanon-goinggendergapinmycompanyforseniorleaders.Thereisashortage ofqualifiedexecutivewomen.”
“I personally think the global economic situation is quite bad and no company wants to make a decisiononhiring(evenreplacement)untiltheyseemorecertaintyintheirbusiness”
Mid-2013 Business Outlook45% of global executives share a positive impression of the general business climate for the second half of 2013—up ten percentage points over mid-year 2012.
Regional Confidence Level in the Executive Job MarketMost executives were neutral (39%) about their confidence level in the executive job market in their region compared to other regions for the remainder of 2013. More executives are very confident (7%) or confident (25%) about the executive job market in their region than extremely unconfident (9%) or unconfident (20%).Specific comments included:
“In high growth ventures, Silicon Valley has all the technical founders and New York City has all the marketingfounders.IliveinNewYorkCityandworkinmarketing,sothecompetitionishighhereamongthosewithmyskillset.”
Executive Summary
The 2013 Mid-Year BlueSteps Global Executive Outlook Survey was conducted in June 2013 and received 491 responses from BlueSteps member executives worldwide, including 48% from the Americas, 42% from EMEA and 10% from Asia Pacific.
5 Mid-2013 BlueSteps Global Executive Outlook Report
“Thereisrequirementforexperiencedexecutives,butduetoeconomicslowdown,recruitersarenottakingtheriskofinvestinginmanpower.Indiaisabigmarketforinnovativeconsumerproductsforcomfort,energy...andhealth-relatedproducts.Thereisdefinitelyanexecutivejobmarketavailableinmyregion.”
Executive Mobility - Making a Career Move During the Second Half of 2013Despite an ongoing challenging forecast predicted by global senior executives, 64% of executives report being more willing to make a career move in the second half of 2013 compared to the first half of the year, while 82% plan to at least look for a new executive opportunity in the next 6 months.
When asked to choose the top two elements that might hinder them from making a career move in 2013, the majority (58%) cited “declines in compensation,” followed by “concerns about market instability and the state of the economy” (48%). When asked to report the top two benefits that would most entice them to consider a career move during the second half of 2013, 62% of executives reported “a move to a better role with increased responsibility,” followed by 49% who reported “an increase in total compensation” as a primary motive for making a career move. Consistent with data from earlier this year, 42% of executives expect it to take them on average 6-12 months to secure their next executive opportunity.
Executive Compensation in 2013Regarding executive pay, 45% of executives expected their compensation to increase in 2013, while 46% expected their compensation to stay the same during the last six months of 2013 as in the first half of 2013. Only 9% of global executives expected their total compensation to decrease during the last six months of 2013.
The Global War for TalentGlobal executives predict the greatest executive talent shortages to occur in the General Management/CEO/COO, Engineering, Business Development and IT/CIO/CTO functions.
6About Our Study
Participants
384 men48 women59 did not identify gender
Gender
Career Level
491491 executives from around the world participated in the study
Mid-2013 BlueSteps Global Executive Outlook Report
48%42%
10%
11%
89%
7.5%
18.1%
19.5%
26.5%
28.5%
Other (please specify)
VP
Chairman/CEO/COO/President
Other C-level/SVP/EVP/Partner
Director
7
Regions of the World Represented by Survey Participants
Survey Demographics
Mid-2013 BlueSteps Global Executive Outlook Report
0.5%
0.9%
1.1%
1.1%
2.0%
2.5%
2.9%
3.4%
3.6%
3.6%
4.1%
4.3%
5.0%
27.8%
37.1%
Japan
China
Africa
Russia
Australia/New Zealand
Canada
India
ASEAN
Middle East
Latin America
UK
CEEC
Brazil
Continental Europe
US
8
Industries Represented by Survey Participants
Survey Demographics
Mid-2013 BlueSteps Global Executive Outlook Report
1.1%
2.3%
2.3%
2.9%
3.4%
5.4%
7.7%
8.2%
8.4%
13.4%
15.2%
19.0%
Private Equity/Venture Capital
Real Estate/Construction
Transportation/Tourism
Not-for-Profit/Public Sector/Education
Media/Entertainment
Energy/Natural Resources
Healthcare/Life Sciences
Professional Services
Consumer
Financial Services
Technology/Telecoms
Manufacturing
9
Mid-2013 Outlook - Executive Job Market
Mid-2013 Outlook - General Business Climate
Executive Outlook
The majority of global senior executives share a neutral to positive outlook regarding the global executive job market in the second half of 2013, with 42% of executives feeling neutral and 38% feeling positive (up 12% from this time last year). 20% of global executives share a negative attitude about the global executive job market during the second half of 2013.
Executives feel slightly more positive about the current general business climate in comparison to this time last year. The majority of global senior executives share a positive to neutral outlook regarding the global business climate in the second half of 2013, with 45% of executives feeling positive (up 10% from this time last year) and 39% feeling neutral. 16% of global executives share a negative attitude about the global business climate for the remainder of 2013.
Mid-2013 BlueSteps Global Executive Outlook Report
45%
16%
39% Positive - things will improve
Negative - things will get worse
Neutral - things will remain thesame as they are now
38%
20%
42%
Positive - there will be more jobopportunities
Negative - there will be fewerjob opportunities
Neutral - job opportunities willremain the same
10Executive Career-Related Concerns
Mid-2013 BlueSteps Global Executive Outlook Report
1. Competition
2. Lack of opportunities
3. Job stability
4. Career stagnation
5. Economic factors
6. Lack of opportunities
7. Finding a new position
The majority of senior executives ranked “Competition for jobs” as their greatest career-related concern for the rest of 2013. “Lack of opportunities” and “Job stability” also ranked in the top three out of seven career-related concerns.
11 Mid-2013 BlueSteps Global Executive Outlook Report
Executive Business-Related Concerns
The majority of senior executives ranked “Ability to find qualified candidates” as their greatest business-related concern for the rest of 2013. “Industry innovation” and “Political instability” also ranked in the top three out of seven business-related concerns.
Ability to find qualified candidates
Industry innovation
Political instability
Increased costs
Limited budget
Stagnant industry
Economic stability
12
The Search for New Opportunities
Executive Mobility
Despite a challenging global economy, 82% of global executives plan to look for new opportunities in the next 6 months compared to the 18% of executives who do not plan to look for a new executive opportunity in the next 6 months.
2013 Global Executive Mobility
The greatest percentage (64%) of global executives are more willing to make a career move in the second half of 2013 than they were in the first. Only 9% of executives feel less willing to make a career move in the second half of 2013, while 27% of executives report they are as willing to make a career move in the second half of 2013 as they were in the first half.
Mid-2013 BlueSteps Global Executive Outlook Report
64%9%
27%
I am more willing to make a careermove during the next 6 monthsthan I was earlier this year
I am less willing to make a careermove during the next 6 monthsthan I was earlier this year
I am as willing to make a careermove during the next 6 months asI was earlier in the year
82%
18%
Yes
No
13
Making a Career Move in Mid-2013 - The Negatives
Making a Career Move in Mid-2013 - The Positives
Global executives report concerns about declines in compensation (58%), as well as the state of the economy (48%), as the top two concerns that would most hinder them from making a career move during the second half of 2013. At the start of 2013, the state of the economy was the primary reason followed by declines in compensation. Lack of opportunities and location were also strong factors mentioned as “Other” negative factors.
62% of global executives would be most enticed by a career move during the second half of 2013 if it meant a move to a better role and/or increased responsibility. 49% of executives report that increased total compensation would most entice them to make a career move during the second half of 2013.
Mid-2013 BlueSteps Global Executive Outlook Report
7.9%
14.6%
16.6%
20.2%
47.8%
58.1%
I aim to keep my present job beyond 2013
General aversion to risk
Inability to relocate due to real estate market
Other
Concerns about state of economy
Declines in compensation offered
2.7%
4.7%
12.8%
25.7%
27.6%
49.0%
62.3%
Change to a more stable region
Other
Change to a more stable industry
More international opportunities
Better work environment
Increased total compensation
Better role/increased responsibility
14 Mid-2013 BlueSteps Global Executive Outlook Report
In-Transition Executive Concerns
The majority of senior executives stated that finding the right position-fit was their greatest career-related concern for the rest of 2013. Executives who responded to the survey were very concerned about having to choose positions based on the need of a job rather than position and company-fit. Ageism and lack of opportunities were also mentioned often in answers to this open-response question: “What is your greatest concern as an in-transition executive?”
Finding the right position-fit
Ageism
Lack of opportunities
Financial challenges
Finding a job
Time between positions
Finding a position in a specific region
15
2013 Expected Total Compensation Among Global Executives
Executive Compensation
46% of global executives expect their total compensation to stay the same for the second half of 2013, while 45% expect an increase in total compensation. Only 9% of global executives expect a decrease in their total compensation during the second semester of 2013.
Mid-2013 BlueSteps Global Executive Outlook Report
45%
9%
46% Increase
Decrease
Stay the same
16
2013 Expected Total Compensation - Increases
Executive Compensation
Of those global executives expecting an increase in their total compensation during the second half of 2013, the greatest percentage (22%) expect to see a 6-10% increase, which is higher than earlier this year when the majority of executives expected a 1-5% increase.
2013 Expected Total Compensation - DecreasesOf those global executives expecting a decrease in their total compensation during the second half of 2013, the greatest percentage (28%) expect to see a 6-10% decrease, which is the same as earlier this year.
Mid-2013 BlueSteps Global Executive Outlook Report
13%
22%
17%19%
10%
8%
3%8%
+ 1-5%
+ 6-10%
+ 11-15%
+ 16-20%
+ 21-25%
+ 26-35%
+ 36-45%
+ 46% or higher
4%
24%
28%17%
17%
3%7%
- 1-5%
- 6-10%
- 11-15%
- 16-20%
- 21-25%
- 26-35%
- 36-45%
17
Finding a New Executive Opportunity
Executive Opportunities
The greatest percentage of global executives (52%) expect no change in the difficulty of finding a job in the second half of 2013 compared to the first. 29% of global executives expect it to be easier to find an executive opportunity during the second half of 2013 than it was in the first, while only 20% expect it to be more difficult than earlier this year to find a new executive position. This differs strongly from earlier this year when 42% expected it to be more difficult to find a new executive job.
Mid-2013 BlueSteps Global Executive Outlook Report
20%
28%
52%
It will be more difficult to find anew job in the second half of 2013,compared to earlier this year
It will be easier to find a new job inthe second half of 2013, comparedto earlier this year
There will be no change in thesecond half of 2013, compared tothe first 6 months of this year
18
Timeline for Finding a New Executive Opportunity in 2013
The greatest percentage of global executives (42%) expect the average timeline for finding a new executive opportunity during the second part of 2013 to be 6-12 months.
Global Executives on the 2013 Hiring Plans for Their Companies
The majority of global executives (37%) report that their companies will maintain the same number of employees for the rest of 2013. 31% of global executives report that their companies will increase staff in 2013, while 27% report that their companies will cut staff in 2013. 6% of global executives were uncertain about the hiring plans of their companies for the remainder of 2013.
Mid-2013 BlueSteps Global Executive Outlook Report
0.6%
5.4%
7.7%
11.8%
32.3%
42.2%
More than 2 years
Less than 3 months
Not currently looking
1-2 years
3-6 months
6-12 months
30.2%
24.8%
40.3%
4.8%
We plan to increase thenumber of employees
We plan to decrease thenumber of employees
We plan to maintain thesame number of employees
I don't know
19
Top Functions Expected to Experience a Talent Shortage in Mid-2013BasedonthepercentageofexecutivesreportingaspecificfunctionalroleasonethatwillexperienceatalentshortageinMid-2013
The Global War for Talent
Global senior executives rank the General Management/CEO/COO, followed by Engineering and Business Development as the top three functions that will experience a talent shortage during the second half of 2013.
Learn more about the executive job market, executive opportunities around the world, and industry and regional executive job outlook at www.bluesteps.com.
Mid-2013 BlueSteps Global Executive Outlook Report
4.3%
4.6%
7.8%
8.4%
9.8%
11.0%
11.6%
16.4%
19.4%
19.4%
22.4%
26.9%
27.2%
30.6%
37.2%
Other (please specify)
Human Resources
Training and Education
Logistics
Legal/Risk/Compliance
Finance and Accounting/CFO
Manufacturing/Production
Sales and Marketing/PublicRelations
Board of Directors
Product Development
Research and Development
InformationTechnology/CIO/CTO
Business Development
Engineering
GeneralManagement/CEO/COO
BlueSteps425 Fifth Avenue, 4th Floor, New York, NY 10016Phone: 1 (800) 363-1207Email: [email protected]: www.bluesteps.com