Read the job search statistics below and ask yourself this question. Other than Stewart, Cooper & Coon, can you remember 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 for ten consecutive years. Our transparency should tell you 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.
|Stewart, Cooper & Coon – Executive Job Search Statistics|
|*Median Length of Job Search (all Clients in Months||6.4||5.8||6.3||7.0||7.9||7.4||7.1||6.4||6.1||5.9||5.6|
|**SC&C Successful Clients||
Detailed descriptions and client successes are documented below…
|***Percentage of Clients Winning Equal or Better Salaries||91.4%||91.6%||92.4%||91.1%||90.3%||90.7%||91.3%||92.1%||92.9%||93.4%||93.7%|
|***Percentage of Clients Relocating||12.6%||13.2%||13.5%||12.8%||10.8%||11.4%||11.6%||11.5%||11.7%||11.4%||11.8%|
|***Percent of Clients Changing Industries||37.6%||37.7%||38.2%||34.1%||32.6%||32.7%||32.9%||33.3%||33.7%||34.5%||35.2%|
The analysis below is provided to facilitate a better reader understanding of the chart above and the movement in executive employment trends for 2013.
Analysis of Data
* Length of Search: Over the years, the U.S. Department of Labor has stated that a typical executive job search takes one month for each $10,000 in desired income. Our executive spent an average of 5.6 months in their job search, from market entry to acceptance of their new position.
The length of a job search campaign is driven by a variety of reasons that include: education level, work history, employment record, salary requirements, desirability of their particular skill sets, both the U.S and Global economies, off-shoring trends, interviewing skills, the amount of time and energy they devote to their job search, their attitude about themselves, their willingness to actively participate in the campaign strategy, how they conduct themselves in the job search, the marketing package they are presenting to hiring authorities, and many other personal or external reasons that cannot be controlled by 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. There is a difference in the search time for an employed candidate and one who is unemployed, because those who are employed have 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 and, therefore, their searches usually require less time.
Executive hiring was strong in the 1st two quarters of 2015 but slowed in the 3rd and 4th quarters. We remain pleased that search times for Stewart, Cooper & Coon, historically, have fallen well below national job search time-frame expectations and did so, even during the great recession of 2008-2013. SC&C’s placement patterns have always led economic trends. When the economy is good, hiring takes place. When times are bad, it doesn’t. IN 2016 we anticipate slowing, due to world economic conditions, primarily driven by Oil and Gas prices and the economic conditions in China. When a recovery happens, depending upon the speed and size of the recovery, we see corresponding trends in executive hiring patterns, sometimes two, or more, quarters ahead of the movement.
** Successful Clients : For many years, Stewart, Cooper & Coon has achieved a high level of successful placements. Client placement rates steadily increased until 2008. As we all know, the U.S. economy tanked and employee hiring throughout the United States and overseas decreased dramatically. This trend continued through 2013, with some visible improvement. In 2014, we began to see steady increases in hiring and those trends continue to demonstrate a slow but steady recovery from the recession. Beyond marketplace economic pressures and conditions that normally drive employment numbers, some candidates are not placed for a myriad of reasons. Some decide to purchase a business or a franchise. Some take a pause in their careers and pursue an advanced degree. Some decide to accept an early retirement. Others develop health conditions that alter their search efforts or their life. Older candidates sometimes give up and cannot gain back their self-confidence enough to vigorously approach a changing job market. A few do not understand the amount of work required on their part to conduct a successful job search and become easily discouraged when the results they expect are at variance with the amount of effort they put into conducting a successful job search. As interview experts, we help clients work through anger issues related to termination. A few clients face unexpected and fast-changing circumstances that now control their lives. Those demands may include geographical constraints, salary demands, narrow fields of specialty, or the ever increasing demands for caring for aging parents. These circumstantial drivers simply won’t allow them to consider other options. The number of reasons a client may be unsuccessful is nearly unlimited. For nearly two decades, and for every client we proudly serve, we put forth our very best efforts on their behalf. We pride ourselves in giving our all to each client and we do what it takes to help each client achieve their career success story. On our website we have over 90 client video testimonials, 60+ audio recordings with clients after they are in their new positions, and a myriad of written testimonials; All of these client testimonials confirm of our desire to help each individual client succeed.
****Salary and Package Statistics: The base salary for our newly placed clients averaged $173,962 and client compensation packages ranged from $250,000 – $1.8M. In 2015 we saw a slight increase in the number of company sponsored relocation packages for our clients. Our clients, historically, receive larger financial packages than do their peers. In post-employment interviews, they tell us that through our value-driven approach and by employing our unique interviewing and negotiation tactics they were able to secure better packages. They also attribute their success to our helping them create and express a better value proposition, and successfully use their value-driven brand during negotiations.
More and more companies seem to have embraced and expanded the concept of “work-from-home.” The relocation momentum has been somewhat moderated by work-from-home employment trend being embraced by many companies as a cheaper alternative than paying for executive relocation. Also, more and more executives are being allowed to work from home. Unfortunately, the tradeoff for this seems to be slightly lower salary and benefits offers. We still have no definitive conclusions on this trend but we will continue to track this statistic closely throughout 2016.
Older Job Seekers & Aging Parents: Some clients are faced with sudden health or critical family issues forcing them to seek alternative career paths or make life choices which interfere with conducting a successful search. A continuing trend is the increasing numbers of candidates or spouses who wish to seek employment near aging or infirm parents. The growing number of “Baby Boomers” continues to remain in their current positions and are even seeking new positions. They are willing to work more cheaply because their financial portfolios are not sufficient enough to retire. They remain in the work force. Their continued presence creates competition for positions and slows the creation of new positions which impacts the job seekers who fall into the 40-60 age range. Corporate position turnover is not as aggressive as we have seen in past years. Our younger clients are beginning to experience the impact this is in their lives and their careers and the pressure for a value-driven search is required in order to even compete.