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.
|* Median Length of Job Search (in Months)||7.7||9.9||9.4||8.9||8.5||8.1||7.8||7.4||7.1||6.8||6.5|
|**SC&C Successful Clients||Detailed descriptions and client successes are documented below.|
|*** % of Clients Winning Equal or Better Salaries||72.2%||69.4%||69.5%||70.1%||70.7%||70.9%||80.1%||80.3%||80.8%||81.3%||81.5%|
|*** % of Clients Relocating||12.6%||10.2%||10.4%||10.8%||11.6%||11.5%||11.7%||11.4%||11.8%||10.8%||10.3%|
|*** % of Clients Changing Industries/
Analysis of Data – The analysis below describes the “why and how” behind the numbers shown above. These data and supporting written analysis are updated annually.
* Length of Search: The U.S. Department of Labor has consistently stated a job search averages one month for each $10,000 in base salary earned. At a $200,000 base salary, by their estimate, the projected wait-time becomes a ridiculous number. For reporting SC&C executive clients in 2018, following the development of their value-driven brand, and from that entry point to acceptance of a new position, the average time in search was 6.5 months. Executive hiring was steady throughout 2018, but there was a noticeable uptick in the 4th quarter. Stewart, Cooper & Coon’s executive clients continue to be well-below the national USDOL job search time-frame expectations. We have maintained this tradition for years, even during the great recession of 2007-2013 and the visible executive level national hiring slowdown of 2016. Over our two decades plus of service to executives, the SC&C’s placement trends have been a harbinger of future economic trends. When the economy is sound, hiring takes place. When the economy is poor, it does not. Correspondingly, the other key factors are also impacted by these two trends.
A job search campaign is driven by a variety of factors that are external to the candidate and include: education level, work history, employment record, salary requirements, desirability of specific skill sets by the employer, both the U.S and Global economies, and off-shoring trends, only to name a few. The internal or personal factors include the skill of the candidate with effective interviewing, their knowledge of and ability to communicate their value proposition to the hiring authority, 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 branding and marketing package they present to hiring authorities, and various personal reasons. Some of these reasons may be unexpected health issues, family concerns, sudden unemployment, and several 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, 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 early retirement. Others develop health conditions that alter their search efforts or their life. Older candidates sometimes capitulate and cannot gain back their self-confidence enough to vigorously approach a rapidly changing job market. There are, at times, clients who are easily discouraged when offers are not immediately forthcoming and give up. There are some clients who have had people do things for them throughout their careers and assume that SC&C will do all the work for them and that they do not have to participate in the job search. This is a recipe for failure. Some 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 boundless.
One thing is for certain and it is this. Managing a successful job search is hard work for any executive. SC&C clients repeatedly, in both audio and video the testimonials, describe the process as demanding. Developing one’s background that can be converted into a value-driven proposition is daunting. The amount of effort required to manage multiple channel marketing efforts requires knowledge and perseverance. The best SC&C client is one who, throughout their career to date, 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 nearly two decades and for every client we proudly serve, we put forth our very 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 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 are confirmation of our desire to help each individual client succeed.
****Salary and Package Statistics: The base salary for our newly placed clients averaged $172,647 and client compensation packages ranged from $50,000 – $1.0M+. The slight decrease from 2017 is due to the increase openings available and the competion for them, nationwide. The impact of the 2018 tax law changes remains to be seen.
In post-employment interviews, our client say that through our value-driven approach and by employing our unique interviewing and negotiation tactics they secure better financial 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. The work-from-home trend is increasing. Many companies are continuing to adopt this strategy. However, there are indications that some companies are reverting to the consolidated office mode.
Older Job Seekers & Aging Parents: There seems to be an uptick in clients who 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. This seems to be true for some baby boomers whose parents are still living and who require greater financial or care assistance. A growing number of “Baby Boomers” continue to remain in their current positions and are even seeking new positions. They are willing to work for less because their financial portfolios are not enough to support retirement, so they must 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 experiencing the impact of this in their lives and their careers. They face great pressure in the current marketplace if they cannot present a clear vision for the employer as to their value proposition in the employment and interview process.