The BlueSteps. Global Mid-Year Executive Outlook Report

Transcription

1 The 2013 BlueSteps Global Mid-Year Executive Outlook Report

2 About BlueSteps.com BlueSteps.com is an online career management service for global senior executives. As an exclusive service of the Association of Executive Search Consultants (AESC), BlueSteps enables senior executives to make their career profile accessible to over 8,000 retained executive search professionals who are members of the AESC and who use the database as an additional resource in their candidate and source identification process. BlueSteps members stay informed of executive job market opportunities, trends and news, and enjoy a variety of tools and resources to facilitate the successful management of their executive career path. For more information, please visit About The Association of Executive Search Consultants The Association of Executive Search Consultants (AESC) is the worldwide professional association for the retained executive search industry. The AESC promotes the highest professional standards in retained executive search consulting, broadens public understanding of the executive search process and serves as an advocate for the interests of its member firms. For more information, or to download the AESC Code of Ethics and Professional Practice Guidelines, please visit www. aesc.org. About Corporate Connect The AESC also offers a service for the HR community offering industry information and tools to assist with senior executive recruiting, including access to the AESC membership directory. BlueSteps 425 Fifth Avenue, 4th Floor New York, NY Phone: 1 (800) info@bluesteps.com Web:

3 The 2013 BlueSteps Global Executive Mid-Year Outlook Report Contents: Page 4-5: Executive Summary Page 6: About Our Study Page 7-8: Survey Demographics Page 9-11: 2013 Global Executive Outlook Page 12-14: 2013 Global Executive Mobility Page 15-16: 2013 Executive Compensation Page 17-18: 2013 Executive Opportunities Page 19: The Global War for Talent

4 4 Executive Summary The 2013 Mid-Year BlueSteps Global Executive Outlook Survey was conducted in June 2013 and received 491 responses from BlueSteps member executives worldwide, including 48% from the Americas, 42% from EMEA and 10% from Asia Pacific. Mid-2013 Executive Job Market Outlook The 2013 Mid-Year BlueSteps Executive Outlook shows that the majority of global senior executives share a neutral (42%) to positive (38%) outlook regarding the global executive job market for the remainder of % of executives surveyed harbor a negative view of the executive job market during the second half of Even though the majority of senior executives had a neutral to positive outlook, many executives still see the outlook as negative for reasons including ageism, lack of gender diversity and the volatile economy, particularly in Europe. Specific comments included: I am shocked at how soft employment is for anyone over 55; it used to be that experience worked to your advantage and now it is virtually a liability, especially with P/E firms. Ageism is a reality! I am concerned with an on-going gender gap in my company for senior leaders. There is a shortage of qualified executive women. I personally think the global economic situation is quite bad and no company wants to make a decision on hiring (even replacement) until they see more certainty in their business Mid-2013 Business Outlook 45% of global executives share a positive impression of the general business climate for the second half of 2013 up ten percentage points over mid-year Regional Confidence Level in the Executive Job Market Most executives were neutral (39%) about their confidence level in the executive job market in their region compared to other regions for the remainder of More executives are very confident (7%) or confident (25%) about the executive job market in their region than extremely unconfident (9%) or unconfident (20%). Specific comments included: In high growth ventures, Silicon Valley has all the technical founders and New York City has all the marketing founders. I live in New York City and work in marketing, so the competition is high here among those with my skill set.

5 5 There is requirement for experienced executives, but due to economic slowdown, recruiters are not taking the risk of investing in manpower. India is a big market for innovative consumer products for comfort, energy...and health-related products. There is definitely an executive job market available in my region. Executive Mobility - Making a Career Move During the Second Half of 2013 Despite an ongoing challenging forecast predicted by global senior executives, 64% of executives report being more willing to make a career move in the second half of 2013 compared to the first half of the year, while 82% plan to at least look for a new executive opportunity in the next 6 months. When asked to choose the top two elements that might hinder them from making a career move in 2013, the majority (58%) cited declines in compensation, followed by concerns about market instability and the state of the economy (48%). When asked to report the top two benefits that would most entice them to consider a career move during the second half of 2013, 62% of executives reported a move to a better role with increased responsibility, followed by 49% who reported an increase in total compensation as a primary motive for making a career move. Consistent with data from earlier this year, 42% of executives expect it to take them on average 6-12 months to secure their next executive opportunity. Executive Compensation in 2013 Regarding executive pay, 45% of executives expected their compensation to increase in 2013, while 46% expected their compensation to stay the same during the last six months of 2013 as in the first half of Only 9% of global executives expected their total compensation to decrease during the last six months of The Global War for Talent Global executives predict the greatest executive talent shortages to occur in the General Management/CEO/ COO, Engineering, Business Development and IT/CIO/CTO functions.

6 6 About Our Study Participants executives from around the world participated in the study 48% 42% 10% Gender 11% 384 men 89% 48 women 59 did not identify gender Career Level Director 28.5% Other C-level/SVP/EVP/Partner 26.5% Chairman/CEO/COO/President 19.5% VP 18.1% Other (please specify) 7.5%

7 7 Survey Demographics Regions of the World Represented by Survey Participants US 37.1% Continental Europe 27.8% Brazil 5.0% CEEC 4.3% UK 4.1% Latin America 3.6% Middle East 3.6% ASEAN 3.4% India 2.9% Canada 2.5% Australia/New Zealand 2.0% Russia 1.1% Africa 1.1% China 0.9% Japan 0.5%

8 8 Survey Demographics Industries Represented by Survey Participants Manufacturing 19.0% Technology/Telecoms 15.2% Financial Services 13.4% Consumer 8.4% Professional Services 8.2% Healthcare/Life Sciences 7.7% Energy/Natural Resources 5.4% Media/Entertainment 3.4% Not-for-Profit/Public Sector/Education 2.9% Transportation/Tourism 2.3% Real Estate/Construction 2.3% Private Equity/Venture Capital 1.1%

9 9 Executive Outlook Mid-2013 Outlook - Executive Job Market 42% 20% 38% Positive - there will be more job opportunities Negative - there will be fewer job opportunities Neutral - job opportunities will remain the same The majority of global senior executives share a neutral to positive outlook regarding the global executive job market in the second half of 2013, with 42% of executives feeling neutral and 38% feeling positive (up 12% from this time last year). 20% of global executives share a negative attitude about the global executive job market during the second half of Mid-2013 Outlook - General Business Climate 39% Positive - things will improve 45% Negative - things will get worse 16% Neutral - things will remain the same as they are now Executives feel slightly more positive about the current general business climate in comparison to this time last year. The majority of global senior executives share a positive to neutral outlook regarding the global business climate in the second half of 2013, with 45% of executives feeling positive (up 10% from this time last year) and 39% feeling neutral. 16% of global executives share a negative attitude about the global business climate for the remainder of 2013.

10 10 Executive Career-Related Concerns 1. Competition 2. Lack of opportunities 3. Job stability 4. Career stagnation 5. Economic factors 6. Lack of opportunities 7. Finding a new position The majority of senior executives ranked Competition for jobs as their greatest career-related concern for the rest of Lack of opportunities and Job stability also ranked in the top three out of seven career-related concerns.

11 11 Executive Business-Related Concerns Ability to find qualified candidates Industry innovation Political instability Increased costs Limited budget Stagnant industry Economic stability The majority of senior executives ranked Ability to find qualified candidates as their greatest business-related concern for the rest of Industry innovation and Political instability also ranked in the top three out of seven business-related concerns.

12 12 Executive Mobility 2013 Global Executive Mobility 9% 27% 64% I am more willing to make a career move during the next 6 months than I was earlier this year I am less willing to make a career move during the next 6 months than I was earlier this year I am as willing to make a career move during the next 6 months as I was earlier in the year The greatest percentage (64%) of global executives are more willing to make a career move in the second half of 2013 than they were in the first. Only 9% of executives feel less willing to make a career move in the second half of 2013, while 27% of executives report they are as willing to make a career move in the second half of 2013 as they were in the first half. The Search for New Opportunities 18% Yes No Despite a challenging global economy, 82% of global executives plan to look for new opportunities in the next 6 months compared to the 18% of executives who do not plan to look for a new executive opportunity in the next 6 months. 82%

13 13 Making a Career Move in Mid The Negatives Declines in compensation offered Concerns about state of economy Other Inability to relocate due to real estate market General aversion to risk I aim to keep my present job beyond % 14.6% 16.6% 20.2% 47.8% 58.1% Global executives report concerns about declines in compensation (58%), as well as the state of the economy (48%), as the top two concerns that would most hinder them from making a career move during the second half of At the start of 2013, the state of the economy was the primary reason followed by declines in compensation. Lack of opportunities and location were also strong factors mentioned as Other negative factors. Making a Career Move in Mid The Positives Better role/increased responsibility Increased total compensation Better work environment More international opportunities Change to a more stable industry Other 4.7% 12.8% 27.6% 25.7% 49.0% 62.3% 62% of global executives would be most enticed by a career move during the second half of 2013 if it meant a move to a better role and/or increased responsibility. 49% of executives report that increased total compensation would most entice them to make a career move during the second half of Change to a more stable region 2.7%

14 14 In-Transition Executive Concerns Finding the right position-fit Ageism Lack of opportunities Financial challenges Finding a job Time between positions Finding a position in a specific region The majority of senior executives stated that finding the right position-fit was their greatest career-related concern for the rest of Executives who responded to the survey were very concerned about having to choose positions based on the need of a job rather than position and company-fit. Ageism and lack of opportunities were also mentioned often in answers to this open-response question: What is your greatest concern as an intransition executive?

15 15 Executive Compensation 2013 Expected Total Compensation Among Global Executives 46% 45% Increase Decrease Stay the same 9% 46% of global executives expect their total compensation to stay the same for the second half of 2013, while 45% expect an increase in total compensation. Only 9% of global executives expect a decrease in their total compensation during the second semester of 2013.

16 16 Executive Compensation 2013 Expected Total Compensation - Increases 3% 8% 10% 19% 8% 13% 17% 22% + 1-5% % % % % % % + 46% or higher Of those global executives expecting an increase in their total compensation during the second half of 2013, the greatest percentage (22%) expect to see a 6-10% increase, which is higher than earlier this year when the majority of executives expected a 1-5% increase Expected Total Compensation - Decreases 3% 7% 4% 24% 17% - 1-5% % % % % Of those global executives expecting a decrease in their total compensation during the second half of 2013, the greatest percentage (28%) expect to see a 6-10% decrease, which is the same as earlier this year. 17% 28% % %

17 17 Executive Opportunities Finding a New Executive Opportunity 20% It will be more difficult to find a new job in the second half of 2013, compared to earlier this year 52% It will be easier to find a new job in the second half of 2013, compared to earlier this year 28% There will be no change in the second half of 2013, compared to the first 6 months of this year The greatest percentage of global executives (52%) expect no change in the difficulty of finding a job in the second half of 2013 compared to the first. 29% of global executives expect it to be easier to find an executive opportunity during the second half of 2013 than it was in the first, while only 20% expect it to be more difficult than earlier this year to find a new executive position. This differs strongly from earlier this year when 42% expected it to be more difficult to find a new executive job.

18 18 Timeline for Finding a New Executive Opportunity in months 3-6 months 1-2 years 11.8% 32.3% 42.2% The greatest percentage of global executives (42%) expect the average timeline for finding a new executive opportunity during the second part of 2013 to be 6-12 months. Not currently looking 7.7% Less than 3 months 5.4% More than 2 years 0.6% Global Executives on the 2013 Hiring Plans for Their Companies 30.2% We plan to increase the number of employees 24.8% We plan to decrease the number of employees 40.3% We plan to maintain the same number of employees 4.8% I don't know The majority of global executives (37%) report that their companies will maintain the same number of employees for the rest of % of global executives report that their companies will increase staff in 2013, while 27% report that their companies will cut staff in % of global executives were uncertain about the hiring plans of their companies for the remainder of 2013.

19 19 The Global War for Talent Top Functions Expected to Experience a Talent Shortage in Mid-2013 Based on the percentage of executives reporting a specific functional role as one that will experience a talent shortage in Mid-2013 General Management/CEO/COO 37.2% Engineering 30.6% Business Development Information Technology/CIO/CTO 27.2% 26.9% Research and Development 22.4% Product Development 19.4% Board of Directors 19.4% Sales and Marketing/Public Relations 16.4% Manufacturing/Production 11.6% Finance and Accounting/CFO 11.0% Legal/Risk/Compliance 9.8% Logistics 8.4% Training and Education 7.8% Human Resources 4.6% Other (please specify) 4.3% Global senior executives rank the General Management/CEO/COO, followed by Engineering and Business Development as the top three functions that will experience a talent shortage during the second half of Learn more about the executive job market, executive opportunities around the world, and industry and regional executive job outlook at

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