Read the job search statistics below and contemplate this question. Aside from Stewart, Cooper & Coon, are you aware of any other company in our field that publishes their performance statistics on the web for everyone to see? Our transparency continues to lead all U.S. executive search and corporate outplacement companies in this regard and we have done so consistently since our inception. Our transparency should convey a great deal about us. The analysis below is provided to facilitate a better reader understanding of movement in SC&C’s experiences with executive employment trends.
|* Length of Search – Description Below||2016||2017||2018||2019||2020|
|**SC&C Successful Clients||Analysis of client successes are documented below|
|*** % of Clients Winning Equal or Better Salaries||80.8%||81.3%||81.5%||81.7%||
|*** % of Clients Relocating||11.4%||11.8%||10.8%||9.4%||23.3%|
|*** % of Clients Changing Industries /
Analysis of Data – Below, we share with you our best analysis of the “why and how” behind the numbers shown above. These data are updated annually. After reviewing our 2020 placed client data, we had to recheck the numbers. We knew that our client successes were steadily improving, but the final numbers were totally unexpected.
* Length of Search: In the 20+ years of service to executives who are conducting a job or career transition SC&C’s placement trends have always exceeded the standard estimate established by the U.S. Department of Labor. Historically, the DOL formula states that a job search will average one month for each $10,000 in income earned. If you make $200,000, by their estimate, the projected search time would be 20 months. To the SC&C team, this formula has always been ridiculous. We believe that macroeconomic trends drive hiring practices. When the economy is poor, hiring declines. When it is good, hiring is better. In 2020, the Covid-19 Pandemic turned the whole economics of the American labor market upside down.
SC&C clients have always done significantly better in terms of the time it takes to secure a job and in bettering their financial positioning by using our negotiation advice and coaching. While 2020 started off with a very bleak projected outcome, it became a wonderful year for SC&C clients who accepted new positions and careers.
In early 2020 hiring slowed and closely paralleled the U.S. expansion of the Covid-19 Pandemic impact on the labor market. Nationally, executives were not actively seeking employment. Companies were not hiring, except for a carefully defined need. Most executives were desperately trying to hold onto their existing positions. We were, however, pleasantly surprised that SC&C clients were not experiencing the same the same degree of hiring resistance as other job seekers in the marketplace, as these client videos
Excluding Covid-19, in the ordinary ebb and flow of the labor market, there are multiple causes for achieving job search success. Some of these are: education level, work history, employment record, salary requirements, desirability of specific skill sets by the employer, both the U.S and Global economies, and offshoring trends, only to name a few. The internal or personal factors including the candidate’s skill navigating the interviewing process, especially their ability to communicate their value proposition to the hiring authority. Also, the any job search is impacted by the amount of time and energy a person devotes to it, their attitude about themselves, their willingness to actively participate in the campaign strategy, how they conduct themselves during the job search, the branding and marketing package they present to hiring authorities, and various other personal reasons. Some of these reasons may be unexpected health issues, family concerns, sudden unemployment, or others that are also beyond the immediate control of the candidate or SC&C.
Another contributing factor to the amount of time spent in search is heavily influenced by the employment status of the job seeker. A job search is an in-depth process demanding enough time be spent on multiple channels of marketing. There is a time commitment difference in the length of a search for an employed vs. unemployed candidate. Those who are employed have significantly less time to engage fully in a search and their searches take longer. Those that are unemployed have more time to devote to their job search, can engage in more activity, therefore, their searches usually require less time.
** Successful Clients: Beyond marketplace economic pressures and conditions that normally drive employment numbers, there are one or two of our candidates each year that are not placed for a variety of reasons: they purchase a business or a franchise; they take a pause in their careers and pursue an advanced degree; they might decide to accept early retirement; they may develop a health condition that if life-altering; they face unexpected and fast-changing circumstances that now control their lives; and if they are older they sometimes do not have enough self-confidence enough to vigorously approach a rapidly changing job market. Successful clients approach their lives and the search with a “Can Do” attitude. They are also prepared to work hard to achieve success in their search, just as they have done throughout their careers. Assuming that SC&C will do all the work for them or that they do not have to participate in the job search is a recipe for certain failure.
One thing is for certain is this. Managing a successful job search is hard work for any executive.
In both audio and video testimonials, SC&C clients describe the process as demanding. Developing one’s background and being able to convert it into a value-driven proposition that is easily understood by the reader and one that can be effectively communicated in the interview process is something most job seekers have never tackled. It can be daunting. The amount of effort required to manage a multiple channel marketing campaign requires knowledge and perseverance. The best SC&C client is one who, throughout their career to date, accepts hard challenges and is not easily discouraged. The best way to describe a successful SC&C client is that they have courage, determination, great listening skills, perseverance and, when results are not as expected, are open to alternative and better methods of attacking issues.
For 20+ years, and for every client we have proudly served, we have put forth our absolute best efforts on their behalf. We pride ourselves customizing our services and providing the best services to each client – we do what it takes to help each client achieve their career success story. On our website we have over 100 client video testimonials, 65+ audio recordings with clients after they are in their new positions, and hundreds of written testimonials; all of these client testimonials are confirmation of our desire to help each individual client succeed.
****Salary and Package Statistics: In normal times, labor demand at the executive level is usually strong, regardless of economic conditions . However, Covid-19 dramatically slowed corporate hiring and precipitated large-scale nationwide layoffs. However, what we at SC&C saw was that the number of jobs that were designated important to corporate health diminished less. Also, the demand for technology and related critical skill sets didn’t diminish in proportion to the labor layoffs.
Salaries: Demand for excellent, not simply good, talent at the executive level during the Pandemic was heightened. Personnel selection and the hiring process decisions took longer but those that were hired made it because their branding presented superior value. In the technical arena, because of the abundance of technical job openings and the lack of skilled talent pool candidates, salaries significantly increased. Corporations didn’t want good talent. They wanted great talent. SC&C clients capitalized on this fact. In post-employment interviews, our client say that they attribute their financial package successes to our helping them create and express a better value proposition and successfully use their value-driven brand during their negotiations sessions and that they used the negotiation tactics coaching they learned from SC&C’s highly-experienced, Campaign Directors.
In 2019, our average executive base salary averaged $179,963 and client compensation packages ranged from $85,000 – $650,000. In 2020, the base salary for our newly placed clients was $206,173.81 and packages ranged from $95,000 to $1M+. This dramatic increase seems to have three primary contributing factors.
1. Willingness To Relocate: In the general labor market, less people were willing to relocate. They simply wanted to hunker down and wait it out. Those that were willing to move benefited by being able to negotiate generous relocation packages.
2. Change Industries: In the best of times, changing industries is harder to do than one would imagine. Some try but most do not make the cut. Why, because the recruiting industry is notorious for saying to candidates that their corporate client is looking for a fuzzy, left-handed, purple squirrel. If you are a fuzzy, left-handed and squirrel, you are not in the running. However, at SC&C, over the years, we have seen a steady percentage of those who are able to change industries. In 2020, the number went through the roof. Why? We are still analyzing the data, but we feel that part of this dramatic
increase rests at the feet of companies who finally accepted the fact that their executive labor pool of great hires had expanded. Next, working in an office was not an option for most Americans. Thus, corporations struggled and scrambled to manage a work-from-home workforce. As this approach was implemented, it became obvious to the executive workforce that they could apply at companies they could not previously consider because of personal, geographical, and family distancing concerns. In 2020, it became a new ballgame. One could work for a company anywhere, as long as the company had a remote workforce policy in place. This offered companies and opportunity to hire better talent, as well, since geography was no longer the greatest consideration in their hiring formula. SC&C clients took advantage of this.
3. The work-from-home trend is still a concept that many companies are struggling to develop and manage. It is not resolved and has changed the nature of work in America. The trends to watch for 2021, and beyond, are workforce automation, work-from-home, the aging of the workforce, and the move to technical education, specialty trade training, vs a college education.
Older Job Seekers & Aging Parents: An aging American population and the number of workers retiring continues to worry economists and industry decision makers. America is aging. There are fewer experienced executives than there were a decade ago. Industry is demanding skills sets that are harder to find. Their parents are still living and many face hard choices about the care for their parents. This restricts free-choice mobility. There is no relief in sight or nationally organized corporate response as an answer for this, for the foreseeable future.