Chicago, IL (PRWEB) December 2, 2009
A re-employment study conducted by Gray Hair Management (http://www.grayhairmanagement.com), the country's leading career coaching, networking and job search resource for senior managers and executives, reveals new trends related to length of time between jobs, source of job leads, base salaries, industry changes and relocation for those who found employment after a job loss in 2009.
"With the national jobless rate at such a high level, it's easy to get caught up in negative trends and data," said Scott Kane founder of Gray Hair Management, who reported findings and trends among its members who have landed new jobs in 2009 during a recent Economic Recovery Forum in Chicago. "But it's important, and much more useful, to look at those who have found jobs, in order to glean what is working and why."
The Era of Networking
Gray Hair Management found that thus far in 2009, 41.8 percent of senior managers and executives surveyed found their new positions through networking, compared to 31.0 percent in 2008.
There were decreases in finding positions in all other ways. In 2009, 10.9 percent found their position through a recruiter, compared to 12.6 percent in 2008. In 2009, 9.1 percent heard of the position through friends, compared to 13.8 percent last year. Only 7.3 percent heard of the position directly from the company, compared to 8.0 percent last year. This year, 21.8 percent surveyed learned of their new position via the Internet, compared to 23.0 percent last year. Only 9.1 percent of respondents learned of their new job through "other" sources, compared to 11.5 percent last year, and none of the respondents, this year or last year, found their positions through the classified ads in the newspaper.
"It's not surprising that networking has played a more important role," said Scott Kane, founder of Gray Hair Management. "The next job is most likely to come from someone you know, and that doesn't mean it's someone you already know, as shown by the decrease in the number of people this year who heard about their new position through friends."
Time Out between Jobs
The Bureau of Labor Statistics reports that more than a third of those in the U.S. who are out of work have been looking for more than six months, making this category of unemployed the biggest since the Bureau began tracking it in 1948.
Among its members who have found jobs, Gray Hair Management reports that the time between jobs is shorter in 2009 than in 2008. This year, 52.7 percent of those who found jobs did so within 6 months or less, compared to 37.9 last year. In 2009, 74.5 percent found their new jobs within less than 12 months, compared to 63.2 percent in 2008.
"We're happy to see this kind of trend," said Kane. "Companies are starting to hire back, and where they are, they're making hiring decisions in a timelier manner."
Lower Base Salaries
Gray Hair Management found that in 2009 only 21.8 percent of those who found new job earned a higher base salary than their previous position while 78.2 percent earned less. Last year, 41.4 percent earned a higher base salary than they had previously, compared to 58.6 percent earning less.
"We cannot tell for sure whether or not companies are taking advantage of offering lower salaries, but since there is a larger talent pool to choose from, there is definitely a supply and demand situation occurring," said Kane.
According to the survey, the majority of candidates found a new job in both 2008 and 2009 within a different industry in which they held their previous position. However, in 2009 fewer candidates had to change industries to secure their new job. In 2009 thus far, 43.6 percent found a new job within the same industry in which they held their previous position. In 2008, 39.1 percent found a new job within their existing industry.
So far, fewer of those re-employed have had to relocate for their new position. In 2009, 14.5 percent of executives had to relocate for their new position. Last year, 20.7 percent relocated.
"The bottom line, regardless of specific trends, is that someone's next job will most likely come from someone they know, and not necessarily someone they currently know," said Kane. "Also, there is only one reason that someone is going to give you a job: you must show them that you are the solution to their problem."
Founded in 2000, Gray Hair Management (http://www.grayhairmanagement.com) holds monthly face-to-face networking sessions around the country, has more than 7,000 executives and senior managers in its worldwide membership database and sends over 1,500 monthly job leads and networking opportunities (GHM-sponsored and other events) to its Gray Hair Management Network. Gray Hair Management surveys each member who informs them that they have landed a new job. In 2008, 375 members self-reported re-employment, and in 2009 thus far, 312 members have reported re-employment.
About Gray Hair Management
Gray Hair Management® is the country's leading career coaching, networking and job lead resource for executives and senior managers. Founded in 2000, Gray Hair Management holds monthly face-to-face networking sessions around the country, has more than 7,000 executives and senior managers in its worldwide database and sends over 1,500 monthly job leads and networking opportunities to its Gray Hair Management Network. At Gray Hair Management, the focus is on experience, not age, and the company's mission is to help professionals get jobs. Gray Hair Management does this by helping organizations and recruiters around the country find qualified candidates, providing members with networking events and job leads and by coaching clients using its proprietary Pathways Through Transition™ program. Through its corporate services division, Gray Hair Management also offers outplacement and human resource solutions for small to medium-sized businesses. Partners Scott Kane and Jack Heyden speak regularly to corporate executives around the country via networking events, speaking engagements and radio interviews. For more information, please visit our website at http://www.grayhairmanagement.com or visit us on Twitter at http://twitter.com/grayhairmgmt or our blog at http://grayhairmanagement.wordpress.com/.
Kelly Kirkendoll Shafer
Shafer Communications for Gray Hair Management