Executive Employment Trends Q3 2015

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Katherine Walker
5 years ago
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1 Executive Employment Trends Q3 2015

2 EXECUTIVE EMPLOYMENT TRENDS REPORT BPI group has established this Executive Employment Trends Report to offer visibility into the current executive job market. We are committed to quality and results in our outplacement programs, and believe that keeping a careful eye on trends in the market is an important way to ensure that we are meeting the needs of our career transition clients. The findings of this report are based on a survey of our executive clients who began their job search from Q through Q The Executive Employment Trends Report includes analysis of the following executive employment trends: Average length of the executive job search How the length of the job search is impacted by various factors, including: Base Salary Level Education Level Age We look forward to continuing to share the latest trends in executive employment. If you would like to learn more about our approach to executive outplacement services, please call BPI group

REFLECTIONS ON EXECUTIVE EMPLOYMENT TRENDS IN Q3 2015 The U.S. Bureau of Labor Statistics reported in their September jobs report that the average length of unemployment for Americans was 6 months.

4 months in Q2, to 6 months in Q3. Our executive clients continued to land faster than the national average, at an average of 5.2 months in Q3.

3 REFLECTIONS ON EXECUTIVE EMPLOYMENT TRENDS IN Q The U.S. Bureau of Labor Statistics reported in their September jobs report that the average length of unemployment for Americans was 6 months. Although the number of jobs added to the market fell short of expectations 142,000 jobs rather than the predicted 200,000 1 the length of unemployment has continued to drop, from 6.4 months in Q2, to 6 months in Q3. Our executive clients continued to land faster than the national average, at an average of 5.2 months in Q3. As 2015 has progressed, an increasingly greater proportion of our executives have accepted new positions within companies, rather than choosing to start their own business or retire. In Q3, only 4% of executives chose to start their own business, compared to 9% in Q2, and 17% in Q Mirroring last quarter s findings, none of our executive clients in Q3 chose to retire. Job creation may have slowed in the broader U.S. economy, but our executives are consistently successful at securing new, better compensated positions in a shorter than average length of time. Here at BPI group it is our mission and expectation that we have a hand in that success. 1 Sharf, Samantha. Disappointing Jobs Report: 142,000 Jobs Added In September, Unemployment Rate Stays 5.1%. Forbes. Web 2 October 2015: Patricia Siderius Managing Director, Executive Outplacement Services psiderius@bpi-group.us, BPI group

ABOUT OUR EXECUTIVE OUTPLACEMENT CLIENTS Executive respondents represent a diverse array of occupations: About the executives: This report is based on survey responses from a sample of BPI group s

4 ABOUT OUR EXECUTIVE OUTPLACEMENT CLIENTS Executive respondents represent a diverse array of occupations: About the executives: This report is based on survey responses from a sample of BPI group s executive outplacement clients, representing: 70 executives, comprising 48 men and 22 women 16 states 33 companies All executives surveyed began and completed their career transition with BPI group between Q and Q Accounting/Finance/Insurance 12% Banking/Real Estate/Mortgage 2% Biotech/R&D/Science 2% Business/Strategic Management 10% Education/Training 2% Food Services/Hospitality 3% Human Resources 4% IT/Software Development 21% Legal 4% Manufacturing/Production/Operations 12% Marketing/Product 9% Medical/Health 2% Project/Program Management 4% Quality Assurance/Safety 4% Sales/Retail/Business Development 7% Other 2% 4 BPI group

5 EXECUTIVE OUTPLACEMENT PROGRAM OUTCOME Executive Employment Program Outcome 96% of our executive clients chose to seek a new job within 4% an organization, while only 4% decided to start their own business. The proportion of those starting a business has approximately halved each quarter this year, from 17% in Q1, to 9% in Q2, to a yearly low of 4% this past quarter. 96% Landed New Employment Started Own Business 5 BPI group

6 EXECUTIVE EMPLOYMENT TREND: LENGTH OF JOB SEARCH Executives spent an average of 5.2 months in the job search more time than the Q average of 4.5 months. This was less time than the national average of 6 months in Q3 2015, as reported by the Bureau of Labor Statistics. To compare, the national average job search length in Q1 and Q was 7 and 6.4 months, respectively. Salary at the new job: 53% rated the compensation at their new job as Better than that of their previous job 30% rated the compensation at their new job as the Same as that of their previous job 17% rated the compensation at their new job as Less than that of their previous job How Executives Found their New Job 3% 4% Networking Search Firm 25% 68% Other Internet 6 BPI group

7 Months EXECUTIVE EMPLOYMENT TREND: BASE SALARY Survey Sample: Base Salary Range $75,000 - $150,000 20% 15% Average Time to New Job by Base Salary Range $150,000 - $250, $250, % 1 0 $75,000 - $150,000 $150,000 - $250,000 $250,000+ Key Takeaway: Executives at all base salary ranges took nearly the same average time to land a new position: around 5 months. This is notable because usually there is more variation; those in the majority $150,000-$250,000 salary range have tended to take slightly longer in their job search than those in other salary brackets. 7 BPI group

8 Months EXECUTIVE EMPLOYMENT TREND: EDUCATION LEVEL Survey Sample: Education Level 1% Bachelor's 40% Master's Average Time to New Job by Education Level Ph.D 59% Bachelor's Master's Ph.D Key Takeaway: Executives with a Master s degree, comprising the majority of those surveyed, landed in an average of just under 5 months. Those with only a Bachelor s took slightly longer, averaging 5.7 months. This is consistent with a longstanding observation of a correlation between education level and length of job search, in which higher levels of education correspond with faster landing rates. 8 BPI group

9 Months EXECUTIVE EMPLOYMENT TREND: AGE GROUP Survey Sample: Age Range 12 Average Time to New Job by Age Range % 16% % 33% Key Takeaway: Executives in the age range the largest proportion of our sample landed a new position in an average of 5 months, slightly longer than the average of 4.6 months in Q Those in the age group landed in an average of 4.3 months. While those 61 and over took much longer to land a new role in this quarter, they comprised only 4% of the survey population, and therefore we do not find this result indicative of a larger trend. 9 BPI group

ABOUT EXECUTIVE OUTPLACEMENT SERVICES BPI group offers a local boutique touch with a global network of resources to ensure long-term career success for our executive outplacement clients.

10 ABOUT EXECUTIVE OUTPLACEMENT SERVICES BPI group offers a local boutique touch with a global network of resources to ensure long-term career success for our executive outplacement clients. In addition to job search coaching, clients may also choose to focus on entrepreneurial ventures, preparing for retirement, or other work alternatives. Each client works with a personal career coach to develop a customized, winning services plan, helping them to: Focus on developing the next step in their career, leveraging assessment tools and professional consulting to establish short and long-term career direction. Learn how to effectively job search and thrive in the new world of work. Search for the next opportunity, be it a new job, a business acquisition or start-up, or a part-time career. Connect to high-quality job opportunities, through technology, a team of job developers, social networks, in-person networking events, personal introductions, and direct placement activities. Succeed in their new role, by developing a 90-day onboarding plan. Interested in learning more? Call I am excited and eternally grateful for the time you (and everyone at BPI group) took to help me in my search over the past year. I feel it was a critical piece in my getting this job and I cannot thank you enough. - Tim, landed as Chief Advisor to the Board of Trustees at a major education institution Losing my job after 12 years with a company was a confidence shattering experience. Patricia and her team worked with me to build back my confidence and to help me understand what I truly want at the next step in my career. Job searching in today's market is extremely different than 10 years ago and BPI gave me the expertise to make a difference and stand out among other candidates. - Sandra, landed as Vice President of Operations with a publicly traded manufacturing company 10 BPI group

ABOUT BPI GROUP We are global management and human resources consultants focused on helping individuals and organizations navigate change.

11 ABOUT BPI GROUP We are global management and human resources consultants focused on helping individuals and organizations navigate change. Align + Engage We help build optimal structures and get people engaged in their roles. Develop We inspire individuals and teams to achieve maximum performance. Transition We help individuals and organizations make the most of change. Connect with us at to learn more. 11 BPI group

LABOR FORCE STATUS OF THE CIVILIAN NONINSTITUTIONAL POPULATION RELEASE DATE: January 22, 2016 SEASONALLY ADJUSTED STATE OF FLORIDA UNITED STATES

LABOR FORCE STATUS OF THE CIVILIAN NONINSTITUTIONAL POPULATION RELEASE DATE: January 22, 2016 SEASONALLY ADJUSTED STATE OF FLORIDA UNITED STATES Over-the-Month Over-the-Year Current Month Month Ago Year Ago Change Change December November December Level Percent Level Percent STATE OF FLORIDA Population 16+ 16,368,000 16,346,000 16,103,000 22,000