What do smart executives do when there are too many competitors in one market? They find new markets.
With slow growth predicted in 2010 and beyond, hiring – although in some corners predictions state that executive hiring at the very top will be robust for the next 6 months – is sure to be slow and cautious for most companies.
Many headwinds, including but not limited to healthcare reform, cause barriers-to-entry that make the risk of high salaried talent to be too much for mid- to large sized companies. Small organizations, traditionally fueling the hiring boom in previous years, have too much to do in keeping themselves healthy to consider hiring anyone.
CNN Money.com, on January 7, 2010, reported on the Conference Board’s macroeconomic research for 2010. Gad Lavanon, associate director, is looking for unemployment to remain at 10% or greater and doesn’t expect unemployment to return to pre-recession levels of under 5% anytime in the next six years. The National Association of Business Economics stated that 60% of companies don’t expect payrolls to return to pre-recessional levels until 2012.
ExecuNet’s Mark Anderson differs stating that their Recruiter Confidence Index in December 2009 revealed an “…anticipated increase in search activity [which] shows companies have started to expand their workforces after a long period of cutbacks.” He believes that executive employment is brightening and possibly rebounding in the next six months.
Which is it: robust or cautious executive hiring in 2010?
I wonder if it makes any difference.
After two years of going through a hard slog and wondering whether or not one will have a job in the next year, many executives that I talk with are dissatisfied with their jobs and ar e looking for greener pastures.
One poll I read recently said that 75% of employees hate their jobs. And another 10% to 15% are dissatisfied. With longer work hours, increased pressure to produce results, and little or no increase in compensation, many have had enough of the idea of being someone’s employee. If not for the healthcare problems in getting new coverage, many would have left their jobs a long time ago.
What’s the answer?
I believe a resurgence in entrepreneurialism is about to hit the economy in from 2010 to 2020.