The recent BlueSteps Mid-Year Executive Outlook Report shows the majority of senior executives optimistic about both the economy (57% positive) and the job market (85% neutral to positive) for the rest of 2010, with 31% anticipating increased salary levels of as much as 6-10%. This positivity reflects the optimism shown by AESC member search consultants, 95% of whom reported a neutral to positive outlook for the executive search industry for the rest of 2010 when surveyed recently.
Reflecting this increased confidence in the economy and job market, 88% of executives are either as willing (28%), or more willing (60%) to make a career move than last year. In another recent BlueSteps survey on Executive Satisfaction, 41% of executive respondents said that they were dissatisfied with their current role, and 70% were actively looking for new career opportunities. This increase in optimism and executive mobility points to a reenergized job market.
Della Giles, Director of BlueSteps, commented “Similar to AESC member search consultants, senior executives hold a very optimistic outlook for the rest of the year. Their increase in willingness to consider new opportunities and make a career transition is extremely encouraging and indicates stabilization in the executive job market. This will be well-received after the instability of the recession, and we hope that this upward trend in executive level recruiting will continue throughout 2010 and beyond.”
Increased compensation and a better role are the top requirements for those interested in making a career move, whilst 25% would welcome a better work environment and 26% would now consider an overseas opportunity. As we emerge from the recession, employers will need to review and place importance on senior executive compensation and job satisfaction to ensure they are able to retain their top executives and remain competitive in the marketplace. For those still hesitant about career transition, the main reasons cited include market instability and the fear of a decline in compensation.
Similar to AESC member search consultants, global senior executives feel that China, India and Brazil will be among the top countries seeing a talent shortage this year. This shows little change from a 2009 BlueSteps survey, where China and India were also selected as the best markets for career advancement.
The survey was conducted from May 12 – June 8 2010, and received 827 respondents, including 54% from the Americas, 33% from EMEA and 13% from Asia Pacific.
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