Employment Market Trends
The following information from ExecuNet's Executive Insider

Two separate surveys conducted by ExecuNet reveal both executives and executive recruiters are expecting a stronger employment market in the year ahead. According to a survey of 1,185 executives, 79% believe the economy is going to rebound in 2003 and 21% expect economic improvement will be postponed until 2004.

When asked about their expectations for the executive employment market during the next twelve months:
• 65% expect the employment market will be better in 2003
 than it was in 2002;
• 30% believe the market will remain unchanged from 2002;
and
• 5% think it will be worse than 2002.

Recruiters Also Optimistic

A survey of 323 search professionals reveals recruiters are forecasting a 15% increase in executive search assignments for 2003 when compared with 2002, a year in which search firms reported a 20% drop in senior-level assignments from the prior year.

The five industries recruiters expect will drive much of this job growth are:
1.   Biotechnology/Pharmaceuticals,
2.   Healthcare,
3.   Manufacturing,
4.   Financial Services, and
5.   Consumer Products.

After enduring two consecutive years of double-digit losses, it's refreshing to see signs suggesting the executive search industry could reverse its course and grow in 2003. If the executive employment market continues to grow at the pace set in the first two months of 2003, the expectations of executives and recruiters will be fulfilled, as demand for executive talent is off to a strong start.

Review the Executive Job Index for information on job growth in 2003.

Click to read the article by Noel M. Tichy: The Thought Leader Interview

Click to find out more about strategy+business magazine or to subscribe to Strategy Business.