Executive Recruiter Confidence Ticks Down in August; Washington Blamed for Lack of Executive Job Growth

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Latest ExecuNet Survey Finds 70% of Executive Recruiters Point to External Conditions – Stock Market, Election, GDP – for Executive Hiring Shortage, Not Factors Related to Organizational Leadership, Sales or Profits

It seems clear that the lack of leadership in Washington is leading companies to take a ‘wait and see’ attitude toward executive hiring.

http://www.ExecuNet.com – September 12, 2012 – Recruiter confidence ticked down slightly in August to 35 percent and almost reached the significantly low levels seen last year right after the US debt ceiling crisis, largely due to circumstances beyond organizations’ control. Seventy percent of executive recruiters pointed to conditions external to organizations as factors dampening executive hiring.

In ExecuNet’s recent survey of 152 executive recruiters, a combined 36 percent said the outcome of the US Presidential election coupled with early agreement on measures to avoid the “fiscal cliff” in Washington were the most significant factors limiting executive hiring growth. Another 22 percent thought a rebound in consumer confidence would add to hiring, while only 12 percent said resolution of the European debt crisis would lead to hiring.

Top External Factors Stimulating Executive Job Growth, according to Executive Recruiters
1. The outcome of the US Presidential election
2. A rebound in Consumer Confidence
3. Early agreement on measures to avoid "fiscal cliff" in Washington
4. Resolution of the European Debt Crisis
5. Improvement in US GDP growth rate
Source: ExecuNet

“It seems clear that the lack of leadership in Washington is leading companies to take a ‘wait and see’ attitude toward executive hiring. And, with executive hiring normally being a leading indicator of other hiring, this is not a good sign that there will be growth in the next six months,” said Mark Anderson, President and Chief Economist of ExecuNet.

“If there is a bright spot to the situation, recruiters indicate that only about three percent of companies anticipate eliminating executive jobs in the next six months, which remains very low by historical standards. So, there is not an expectation that things are worsening, just that companies are not looking to add jobs without knowing the future environment in which they will be operating.”

About ExecuNet
Since 1988, ExecuNet has helped business leaders shape positive change to achieve what’s next in their individual lives. From its beginnings as a small gathering of executives in Connecticut, ExecuNet has evolved into a private network of over 250,000 senior-level executive members with a belief in the transformative potential of trusted insight, real connections and personal introductions to help them find meaningful new work, advance in their careers, better manage the growth of their businesses, and become high-value leaders. A recognized authority in executive employment, retention and recruitment, as well as human capital trends, ExecuNet keeps its members informed about what’s important to them in business and their careers.

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