the state of the executive job market -- 2008 lauryn franzoni vice president & executive editor...
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The State of the Executive Job Market -- 2008
Lauryn FranzoniVice President & Executive Editor
January 9, 2008
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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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26,000+ Accomplished Executives
High Level:
59%
25%
16%
Director Manager
CEO/COO/PresOther
C-Level
VP-Level
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ExecuNet Membership
In Key Functional Areas:
13.5%
30.1%
9.4%
23.7%3.2%2.6%
5%
12.5%
General Mgmt FinanceSales & Marketing Ops Mgmt & EngineeringMIS/IT Human ResourcesConsulting All Others
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Growing Industries
In Growth Industries:
0
10
20
30
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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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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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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Search Industry’s 2008 Outlook Is Positive
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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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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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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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Uncertainty Fuels “Hidden” Job Market
Advertised
Jobs
Looming
Hires
Problems in
Search of
Solutions
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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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“Successful Executives have Wide Networks of Meaningful Connections” 85% strongly agree
Personal Business
Peer 2 Peer
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Search Firms’ Online Research On The Rise
2005 2006 2007
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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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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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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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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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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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
203-750-1030, Ext. 142