Exectuive-i Blog - Designed for the executive

Last weeks release of the latest CIPD/KPMG Labour Market Outlook survey offered mixed results. It rubber stamps our observations in the market, and whilst there is an optimistic feeling for an increase in recruitment activity in the Private Sector, there is cause for concern for the Public Sector market.

This quarterly survey is based on a consultation of 800 HR executives looking at their recruitment intentions for the second quarter 2010. Private sector employment intentions have grown for the first time in 18 months with Public sector employment intentions at their lowest level since the survey began 6 years ago.

The net balance for the private sector increased to +29%  (+5% in the previous quarter). The net balance for the public sector is now –43%. The overall balance for all sectors is +5% which is positive news.

Regionally, the employment balance for London/ South has risen from –3% to +21%. In contrast, the balance for Wales is –23% and –25% in Scotland however this probably reflects the larger Public sector presence in these regions.

What does this mean for you? Whilst these results are based on qualitative rather than quantitative data, the private sector’s positive outlook mirrors the overall signs of economic recovery.

The major u-turn for recruitment trends in the public sector is probably a reaction (warranted or not) to the predicted post election public sector cuts however if you are purely looking for public sector jobs, perhaps you should consider marketing your transferrable skillsets to cater for private sector executive jobs as well.

The overall change and perception of public sector bodies to a more commercial mindset should help bridge the gap.

I read an article in the Grapevine last week from Green Park that reinforced the mood prevailing across the Interim Executive jobs market… that signs are improving.

Mandates are shifting from predominantly turnaround to more strategic and commercial in nature. As one of their clients put it… there appears to be a “return of the glamour assignments”

Whenever there is a shift change in the economy, interim opportunities will surface and this market is (gradually) changing.

If you’ve never considered interim management work before, there are a number of sources you can consult to ensure you have the right experience and to prepare you for what lies ahead:

• Institute of Interim Management (www.ioim.org.uk)
• Interim Management Association (www.interimmanagement.uk.com)

There are a number of factors you should consider before embarking on Interim assignments:

Experience: Age shouldn’t matter but experience does – do you have a broad range of experience within your discipline? You should have held several roles at board/ senior level and delivered impressive results.

Contacts: Do you have the range of contacts and information outlets that can provide effective,instant but durable change within an organisation.

Planning: Do you have the discipline to stick to your role and hand it over to your longer term successor once you have delivery your strategic plan?

Work ethic: Interim management can often be touted as having a good work-life balance, when in practice the reality can be completely different. Some companies are in need of a lot of help and your high interim rates must be earned.

Finally, it’s worth consulting with a lot of interim management providers and attending breakfast meetings in this arena. Suppliers of note are: Russam GMS, Green Park Interim, Interim Partners, Intramezzo, Impact Executives, Marble Hill Partners, Alium Partners, Veredus and Boyden Interim Management.

More assignments and suppliers can be found at www.executive-i.com

Have a productive week…

There’s a little irony in the air, during the week that PwC releases it’s Mobility 2020 report, discussing the increasing importance of travel to business, mother nature conspires to contribute to the worst travel restrictions on recent record.

It would be interesting to analyse how digital communications/ conferencing facilities have plugged the gap over the last week however the pluming ash clouds spewing from Iceland have served as a timely reminder of how essential travel is, in particular to business and the mobility of workforces.

The internet was originally predicted to reduce the necessity to travel; whereas in reality it serves to propel the opportunity to travel, assisting mainly when travel is logistically challenging.

And so on further analysis, this report finds the “number of people on international assignments increased by 25% in the last decade” and that there is a “further 50% growth predicted by 2020″

Global trade, technology, regulation, emerging markets, focus on new revenue streams, and changing demographics all contribute to the rise in international assignments. Global companies place their employees in an average of 22 different locations, this is expected to rise to 33 over the next ten years.

What does this mean for you? More and more employees are open to the prospect of working abroad, either on short or long term assignments. Of course this will not affect all industries or disciplines however openness to travel is becoming an increasingly important consideration.

It may be that you’ve spent your working lifetime living out of a suitcase (in particular the consultants amongst you) however mobility is fast becoming the norm whether you’re looking to work for a global company or an aspiring startup. I’ve often come across situations that have meant that this is the key differentiator to landing that next executive job.

For those whose line of work is inextricably linked to travel, it’s essential to highlight your experience of and openness to travel.

Have a productive week….

When consulting a senior exec last week, I noticed immediately that he had an iniquitous view of the executive search/ recruitment industry.

It transpired that he had had his fingers burnt; a bad experience with a recruiter a few years back that had left him with a bad taste in his mouth. He now refuses to develop relationships with recruiters unless absolutely necessary (the recruiter had to be retained for the position and the company had to be identified)

He would not take cold calls and he would not apply to unbranded (confidential) adverts. Whilst there are a number of ‘cowboy’ firms/ consultants in the industry, they are a small minority of unprofessional individuals that can give the large majority of well serving, well connected and knowledgeable consultants a bad reputation.

The industry, in essence, suffers from it’s lack of regulation however this is another topic entirely and one that provokes never ending debate.

Fortunately, the Executive Search industry is a relatively transparent clique and with the dawn of networking sites, news feeds and twitter, word can spread quickly about good and bad protagonists in the industry. For instance, only reputable executive search consultants can gain access to the Executive Search network on executive-i.com.

However, this particular senior executive was being overcautious and was not only certain to miss out on good opportunities but also the advantages a good search consultant can give you.

Of course I always advocate opening up your network directly with employers as more than a third of recruitment is done in this fashion. Recruiters only cover part of the market and you can be more attractive without the 20% to 30% fee that is associated with your introduction.

However adding a targeted, select array of executive recruiters to your network will maximise your chances of finding the right job for you and will enhance your knowledge of the market quickly. Take any opportunity you can to bend their ear about your industry.

You should make sure you put some procedures in place to limit your chances of a bad experience:

1) If you don’t know the consultant already, conduct a google search on both the recruitment company and consultant, if they are hard to find then proceed with caution.

2) Search the business networks such as LinkedIn to identify them and look for endorsements, making sure those endorsements are from outside their personal or company sphere – ones from clients are ideal.

3) Some excellent niche/ sole proprietors may still have a limited online presence so don’t be afraid of asking them directly for references or evidence of a track record in your area before you send them your details.

I hope you have a productive week….

A little clichéd I know but it’s Easter and I’ve overindulged on dark chocolate.

Last week I spoke to an executive who had an extremely good opportunity in the pipeline, in fact it was so good that it had become all consuming. This was a job that he was going to put all his efforts into securing.

Whilst focusing on the task at hand is warranted, it was becoming detriment to all the other opportunities that were available. It can also be counterproductive as there is only so much you can do to influence the outcome and you want to avoid appearing desperate.

The same can be said when first embarking on your executive jobsearch – don’t limit yourself too much. For most, there is a happy medium, your ultimate goal is important however a narrow search will limit your options as much as a wide search lacks focus.

You want to make sure you don’t put all your eggs in one basket; you can only influence your own performance and not your competitors.

Of course, if you only have one option then (and I didn’t say this) it’s important to appear that you have other irons in the fire – if you are attractive to others then you will appear more attractive to them.

This can be especially useful at offer stage. Once you have been identified as first choice, their sales pitch will go into overdrive and they will know they may have to go tthe extra mile to secure your interest.

Not limiting your options can also expose you to areas of work you’d never thought about, that require your transferrable skills and this will go a long way to helping you calibrate the next stage of your career and helping you set that all important benchmark.

I hope you have a productive week…