Execunet‘s January Executive Job Market Survey reports that the executive job market is returning to pre-recession levels. A portion of the report, released by email earlier this week, shows marked gains in categories like overall job growth and executives with competing job offers. The recruiters polled by the survey also reported that it was getting harder to get candidates to take their calls. This is great news for executives, but there’s a bigger story here: as executive hiring increases, staff and manager-level hiring will follow.
As Ally Hemming pointed out back:
Top performers have been doing the work of two or three people since the recession hit. Now they’re fed up, and they’re not going to take it anymore. They’ve got more options than ever before, and they’re heading toward the lifeboats in droves. Each top performer who resigns leaves two or three openings in their wake. Initially, hiring managers will try to replace these super workers. They’ll fail, of course — it’s impossible to replicate the mastery that the departing performer gained from doing multiple jobs for several years. The bosses will come around soon enough, and multiple jobs will open up.
New jobs will open up to fill the gaps left behind by departing top performers, and they’ll also open up the companies that wooed the execs away. New executives mean new teams, and new teams mean new opportunities for professionals at multiple levels.
Don’t expect this growth to be instantaneous, however. Newly hired execs will take a few months to learn the ropes and develop a roadmap for their role and their team. Once that’s in place, hiring will begin in earnest. Conversely, as Ally explained, executives who suddenly find themselves without their top performer will attempt to make do with existing resources before finally throwing in the towel and adding headcount. Both methods of job creation will take a while to materialize, but they’ll materialize nonetheless. In fact, we’re already seeing it here at The Hired Guns.
Talented executives have the luxury of choice at the moment; if non-executive professionals can be patient, they soon will too. To capitalize on this executive job growth, keep a careful eye on LinkedIn, both on changes within your network and changes at the companies you follow. When a connection changes roles, it’s a great idea to reach out (not immediately, though — give them some time to get their bearings in the new role) and explore opportunities at their new company. Likewise, keep an eye on Crain’s Executive Moves. And if you haven’t already, set up a Google Alert for new jobs at promising companies.
Bide your time, friends. A flood of new opportunities is on the horizon.