About 80% of global executives share a neutral to positive attitude about the executive job market for the second half of 2013, while 38% of senior executives have a positive outlook on the global executive job market for the rest of 2013 — up 12% from this time last year.
About 45% of global senior executives share a positive impression of the general business climate for the second half of 2013 — up 10% over mid-year 2012. These were the results of the 2013 Mid-Year Global Executive Outlook Survey by BlueSteps, the career management service of the Association of Executive Search Consultants (AESC). The survey was conducted in June 2013 and received 491 responses, from the Americas (48%), EMEA (42%) and Asia Pacific (10%).
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. The top two elements that might hinder senior executives from making a career move in 2013 are declines in compensation followed by concerns about market instability and the state of the economy.
Due to the improved business climate in some markets, 45% of global executives expect their total compensation to increase in the next 6 months. The majority of those expecting increases expect to see a 6-10% increase, which is higher than the expected compensation increases of 1-5% from the beginning of 2013. Besides increase in compensation, a higher role with increased responsibility is what executives seek.
Regardless of the improved executive job and compensation outlook, 82% plan to look for a new executive opportunity in the next six months, while 64% report being more willing to make a career move in the second half of 2013 compared to the first half of the year.
Peter Felix, AESC and BlueSteps President commented: “These results show gradually improving sentiment amongst the senior executive community, no doubt reflecting the gradual pick up in major parts of the world economy. Inevitably the mood varies from region to region and sector to sector, but there is no doubt that there is greater optimism today than 12 months ago matched by a high degree of restlessness amongst executives as they seek out new opportunities. This long awaited improvement in outlook will inevitably spill over into executive mobility and fuel the latent talent shortage.”
Executive Career Related Concerns:
- Lack of Opportunities
- Job stability
- Career Stagnation
- Economic Factors
- Finding a new position
Executive Business Related Concerns:
- Ability to find qualified candidates
- Industry innovation
- Political instability
- Increased costs & limited budget
- Stagnant industry
- Economic Stability