Senior Executives Interested in Career Moves
Senior Executives Interested in Career Moves - Even Without Compensation Increase
BlueSteps survey finds job seekers are using networking and executive recruiters to succeed
The BlueSteps 2011 Mid-Year Outlook Report shows that although most executives surveyed are interested in making a career move this year, over half the respondents (52%) expect their compensation level to remain the same. This supports findings from the 2011 BlueSteps Executive Mobility Report, where 65% expected to make only a lateral career move, and stay at their current level for the next three to five years. This evidence of realism may reflect the continuing economic uncertainty and contrasts with findings from a BlueSteps survey in January 2011, where the majority (55%) expected their compensation level to increase.
Nevertheless, the high percentage of employed senior executives surveyed (82%) who are planning to look for a new opportunity and have no concerns about making a career move indicates that the fear of moving prevalent during the recent recession has receded. Consistent with surveys from previous years, senior executives would be most enticed by the offer of a better role with increased responsibility, whilst some would feel hindered by a decline in compensation (34%) and market instability (32%).
53% of respondents reported that in-person networking (e.g. referrals, industry events, networking groups) was the job search technique that has proved most successful in their past career transitions, while an even greater number (70%) expect this method to be the most successful technique used in future career transitions. Executive recruiters and online networking were also rated as helpful in job search, whilst online job boards, hiring organization websites and print ads were rated as least successful.
Peter Felix, President of the Association of Executive Search Consultants and BlueSteps comments: “It is reassuring to see confidence levels rebounding quickly after the economic crisis, although most senior executives in our survey look to gain further experience at their current level rather than seeking an upward move. With job seekers now focusing their efforts on networking to achieve career success, a polished “elevator pitch” and on-point branding statement will be essential tools for success when connecting with executive recruiters. With this level of competition, standing out from the crowd will be key.”
Senior executives see the greatest need for executive talent within the Business Development, General Management/CEO/COO, and Sales and Marketing/PR functions. Industries offering the most opportunities include Energy/Natural Resources, Healthcare/Life Sciences, and IT/Technology/Telecoms. Consistent with previous Outlook reports, respondents believe that China, the US, Brazil and India will see the greatest need for talent in the second half of 2011.