Hiring managers are predicting an increase in their hiring initiatives for Q1 2014. In fact, in its survey of projected labor market activity, ManpowerGroup, a world leader in innovative workforce solutions, reported that 17% of hiring managers surveyed expect to increase their workforce during Q1. The quarterly survey, Manpower Employment Outlook Survey, provides a forecast based on interviews with 18,000 hiring managers in the U.S. regarding their near-term hiring intentions. Given this outlook, are you prepared and positioned to meet this opportunity and take advantage of the positive hiring climate?
Employers are forecasting increased hiring in all 13 industry sectors surveyed including increases of 23% in Leisure & Hospitality, 19% in Wholesale & Retail Trade and 16% in Professional & Business Services. The results of ManpowerGroup’s research clearly indicate a hiring optimism across the board. Jonas Prising, President of ManpowerGroup, confirms the trend and says that employers remain optimistic and continue to increase their hiring projections despite an uneven economic recovery. Interestingly, he also says we’re starting to see talent strategy match the importance of business strategy, as it’s becoming increasingly difficult for employers to find individuals with the right skills and experience for their open positions.
Results of previous survey conducted by ManpowerGroup, Annual Talent Shortage Survey, indicate that 39% of U.S. employers are challenged in identifying people with the specific skills and background they require. Talent shortages in key areas still exist, making certain positions difficult to fill. Management and executive positions rank as one of the top ten talent shortage areas, as well as accounting & finance and IT roles. Companies are finding that 48% of candidates lack technical competencies, or hard skills, and 33% lack workplace competencies, or soft skills.
As a result, organizations are adopting and expanding internal practices including training and development for current staff and focusing on recruiting from untapped talent pools. Companies are clearly focused on broadening their approach to sourcing new talent. Today’s executive candidates, more than ever, need to brand themselves. An online presence and LinkedIn profile are a necessity, as is a well-written, compelling resume. Is your branding message consistent? Is your information current and does it highlight your accomplishments in a way that will differentiate you from competing candidates?
If you’ve been considering creating or updating your marketing and branding materials, I would be happy to help. Please contact me today to arrange a complimentary consultation.
The executive hiring outlook for 2014 appears to be on an uptick as companies across the globe are preparing to develop and invest in their human capital. If you’ve been considering a career move, now may be an ideal time.
According to the quarterly Boyden Executive Outlook report published by the top-ranked search firm Boyden Global Executive Search, companies are once again investing in executive talent as economies have stabilized and to ensure they succeed in this intensely competitive global market.
“Until recently, companies were limiting hiring to C-level and critical senior roles and remained skittish making long-term plans to expand management teams due to economic uncertainties,” said Trina Gordon, President & CEO of Boyden World Corporation. She says companies particularly in the U.S. and Europe are focusing on their hiring efforts to gain a competitive edge in the market.
Growth forecasted in Consumer/Retail sector
Retailers are looking for leaders with broad experience, as the growth projections for e-commerce and mobile business sectors are significant. We’re also seeing a ‘health halo,’ where the focus on health and wellness is driving new product development and sales as well as hiring.
According to Doug Ehrenkranz, a Managing Partner at Boyden Houston, many consumer packaged goods (CPG) companies are developing innovative products for baby boomers focused on health and anti-aging, so they are looking for food technology and marketing executives with experience creating products for this group. The sporting goods, apparel and footwear industries are seeking leaders with blended finance, sales and marketing capabilities and experience working for larger companies earlier in their careers—especially those with backgrounds in data analytics, says Amanda Worthington, a Chicago-based Boyden principal.
Expect more senior HR roles, too
Lisa Gerhardt, Boyden Global HR Practice Leader, says we can expect growth in the human resources field in 2014 as well.
“Whenever there is change at the CEO level, we often see a change in the HR Director, as CEOs put a lot of emphasis on personal relationships and trust in that position,” she said. She mentioned that there’s a big need to consolidate and shift to a “shared services” or global business services model, and companies will want to bring people on board to help with the transition.
“CEOs and Boards across all industry sectors are looking for experienced and highly strategic HR leaders who can help transform their organizations into more flexible global enterprises and drive bottom-line results,” said Greg Coleman, a Managing Partner at Boyden New York. Coleman said these businesses are creating wellness programs and putting more emphasis on staff development programs—plus, they’re using online platforms to instruct employees across the world.
Chief Digital Officer role is on the rise
As technology and marketing roles increasingly overlap, we’re seeing a merging of CIO and CMO roles. In fact, you’ll start to see the merged role commonly referred to as Chief Digital Officer (CDO). Mobile technology and data analytics are reshaping the business landscape, making digital development a priority. Traditional organizations will need to rely on a transformational CDO to replace legacy systems and processes. According to research by Gartner, 25% of businesses will have a CDO by 2015.
It’s clear that we can expect hiring growth in 2014.Companies realize the importance of bringing on experienced leaders who are adept at managing and embracing change to capitalize on opportunities to remain globally competitive. Hiring strong talent will be a top priority—and necessity—for the long haul.
Do you plan on making a career move in 2014? If so, you’ll need a strong executive resume to set you apart from the competition. Contact me today to get started.
So you’ve made the decision to start looking for your next six figure role. You’ve updated your resume and LinkedIn profile so are all set now when the calls start rolling in…not exactly. You’ll need to do much more than this to jump start your executive job search in today’s competitive market.
Here are three quick tips to help you as you begin your new job search venture:
Be Proactive. Waiting for job postings to appear online or hoping that someone will contact you for your next six figure role is not an effective job search strategy. These positions are often times never advertised, only created when great new talent presents itself and exclusively filled through confidential candidate sourcing methods and referrals. Do research on your industry to ascertain what’s happening with different companies and which ones you want to target. Who’s in high growth mode? Who’s struggling? Who’s in start-up phase? Who’s entering a new market? Who’s expanding their services/product portfolios? Get to understand the state of the business in the companies you are targeting, identify the challenges that may exist, figure out how you can help them solve their problems and where/how you could potentially fit into the business mix. Reach out to other senior leaders, direct hiring authorities and recruiters inside the companies you are targeting and introduce yourself, or try to find someone in your network who can make an introduction for you.
View Every Professional or Social Engagement as an Opportunity to Network. Whether you are working with a vendor, attending a trade event, meeting a former colleague for lunch or attending a friend’s BBQ on the weekend, use every chance you get to network and inform people that you are exploring new opportunities. You never know who could help you land your next role and where or when it will surface. As the old story goes, “I know someone, who knows someone, who may know someone.” The more people in your trusted network who know you are an available, interested and qualified candidate, the better your chances for finding your next great opportunity.
Manage Your Job Search Like You Manage Your Business. What you can’t measure, you can’t effectively manage. Establish clear goals, identify your greatest sources for job leads, pinpoint the key activities in which you need to engage, hold yourself accountable and measure your results. Set up a simple system that enables you to track your performance each week/month – How many new, quality contacts have you made? What research have you done on your industry? Have you identified your list of target companies and key decision makers inside those companies? How many former colleagues have you reconnected with? How many resumes have you sent out and what kind of responses are you getting? How many phone meetings versus in person meetings? How many networking/industry events have you attended? How many speaking engagements have you done? What follow up methods are you using? Monitor your progress to determine which activities are yielding the best results and tailor your approach accordingly.