Study Shows Trends in the Executive Job Market
The results of ExecuNet’s Executive Recruiter Confidence survey have shown that July saw an increase of 163,000 new payroll jobs for executives which were mostly consolidated within the top five growth industries for the month. The list of top industries for executive hiring within the next six months include: Healthcare, high tech, life sciences (e.g. pharmaceuticals, medical, and biotechnology), business services, and energy/utilities. The roles for executives expected to be in greatest demand for the rest of the year include: business development, sales, marketing, engineering, and operation management.
Of the 168 executive recruiters polled for the survey, 39 percent felt confident about the executive hiring market and its prospects for improving over the next six months. However, the survey also found that, while 20 percent of companies expect to add executive jobs throughout the rest of the year, 25 percent anticipate an executive job freeze. On a positive note, less than three percent of surveyed companies anticipate eliminating executive jobs.
“What’s clear is that there continue to be pockets of opportunity in this slow growth market, but they are narrowing, as more and more companies wait to see what changes in world growth or hope the clarity in Washington will reshape the future soon,” said Mark Anderson, President and Chief Economist for ExecuNet.
“While the Healthcare sector continues to show substantial growth, the biggest changes in opportunity came in sectors focused on the consumer. Consumer spending had been a major driver in the economy in the fourth quarter of last year and the first quarter of this year. With the decline in consumer confidence in the last several months, unfortunately, expectations for hiring in consumer products, retail and manufacturing sectors have declined more than other industries,” Anderson said.