Aug 7 2017
Executive job seekers possess a breadth of operational and leadership skills that can be applied to a diversity of industries. Perhaps you are interested in enhancing your skills set or maybe your current industry is one of those dying breeds, affected by the evolution of technology and the ever-evolving business landscape. To maximize your chances for success, you will want to source job opportunities within those industries that are growing and have higher executive growth.
Here is a look at some of the leading growing industries in 2017 and beyond…
Even with the uncertainty of the Affordable Care Act’s future, health care is the fastest growing industry in the nation. Advancements in health care along with aging baby boomers are driving this exponential growth. The Bureau of Labor Statistics (BLS) predicts health care will overtake government and professional and business services in terms of employment share and will add five million new jobs through 2022. Executives interested in transitioning into the health care industry will need to have an advanced understanding of HIPPA and the Affordable Care Act.
Of course, technology is one of the hottest sectors. Technology is here to stay and will continue to evolve. The demand for forward-thinking executive talent with new ideas and operational efficiency is constant. Businesses in every industry are utilizing technology and all elements of it to run their operations. Leaders with both technical and business skills are needed to advance emerging fields such as cloud computing, Big Data, 3-D printing, cyber security, the Internet of Things and robotics, and mobile and social technology.
The aging population and changes in the U.S. healthcare system are driving growth within the eldercare industry. The BLS has estimated the industry will add four million additional jobs by 2024. Examples of Eldercare industry opportunities include: hospice care, long-term care facilities, and home health care providers. Executives in healthcare will most often lead caseworkers, care providers and treatment teams and an engaged business leader is required to make certain client’s loved ones are treated with quality care and the utmost safety.
The construction industry has rebounded from the 2008 recession. The BLS predicts new construction jobs will reach 6.9 million jobs between 2014 and 2024. No matter the industry or sector everyone requires construction, it is the most stable industry. In addition, population and business growth are driving new construction, and the nation is faced with an aging infrastructure of roads, bridges and sewer systems. Construction growth at the state level has led to a shortage of upper management talent so this industry is ripe for new leadership to manage every aspect of the business.
Medicinal and Recreational Marijuana
As a result of the increase in acceptance and legalization, the medicinal and recreational marijuana industry is increasing rapidly. In fact, the field is expected to produce close to $8.4 billion in revenue by 2019. This industry provides a tremendous opportunity for executives as there are few leaders who have a proven track record. The industry needs leaders who will spearhead regulatory, research, and protection strategies for emerging companies. However, if you have ethical or religious beliefs against marijuana usage, you will not be fit for this industry. These companies are looking for liberal-minded professionals to lead the business in this emerging field.
Solid and hazardous waste collection is seeing explosive growth as the government and companies seek to improve recycling, waste disposal, water and air pollution. The U.S. Department of Labor projects a 12 percent growth through 2024. Waste management is a multi-billion-dollar industry that needs executives to lead the charge. Executive opportunities within existing providers is enormous and new businesses tapping into the market continue to grow and seek executive leaders to drive their business strategy.
Travel, hospitality and leisure
The retiring baby boomers coupled with a new demand is driving growth in travel, lodging, entertainment complexes and food service industries. The United Nations World Tourism Organization (UNWTO) Barometer found tourism and hospitality combined is among the fastest growing industries worldwide. According to the BLS, by 2024, the United States will add some 940,000 hospitality and tourism jobs. Executive opportunities in these fields span all area of sales, marketing and operations.
As with all career opportunities, research the industry, determine which industry offers you the most opportunity and the one in which you will find the most career satisfaction. Next, study all aspects of the business, its challenges and opportunities so you will be well prepared to showcase your unique value in a job interview.
The Ultimate Executive Career Guide: Connecting with Executive Search
As a senior-level executive, you can use this guide to:
- Learn about executive search and how it differs from other forms of recruiting
- Discover the best ways to connect with executive search professionals
- Understand how the search process works
- Implement strategies that will help you become visible to the search community
- And more!