BlueSteps Career Management and Executive Search Blog
The BlueSteps Career Management Blog is written with a C-level audience in mind on career management topics ranging from executive compensation, executive resumes, and interview tips to networking, executive job search, and gaining visibility as a professional in one’s industry.
The BlueSteps Executive Search Blog links senior executive candidates to actual retained search recruitment insights from AESC member executive recruiters, BlueSteps career advisors and other guest writers.
BlueSteps is an exclusive service of the Association of Executive Search and Leadership Consultants, the voice of excellence for executive search and leadership consultants worldwide. Confidentiality is a cornerstone of AESC's mission, and only AESC member firms and consultants have access to BlueSteps members resume info. Click here to learn more about the additional benefits of becoming a BlueSteps member.
Recently the AESC published their Q1 State of the Industry Report that revealed the Asia Pacific region to be experiencing the fastest recovery in the executive job market - receiving an extra +48.3% of business as compared to Q1 last year. These results were followed by North America (+29%) and then Europe (+26%). In order to gain a closer insight into the state of the Asia-Pacific executive job market, we asked an AESC executive search professional (often referred to as executive recruiters or headhunters), to comment on Australia’s unique position in the region.
Quarter one Data Reveals Widespread Growth across Industries
The first quarter of this year showed further positive signs of recovery for the senior executive search industry around the world with annual growth of 30.2 per cent in new executive search mandates and a 22 per cent rise in revenues – revealed new data from the Association of Executive Search Consultants (AESC).
I have seen many discussions and articles published recently that debate whether organizations prefer to hire internal or external executive job candidates. From my reading, I have found that many senior executives believe there is an overwhelming preference for the external candidate. Although the question of preference varies across geographical, organizational and individual circumstances - to offer a generalized answer would avoid the complexity involved in every hire - I would like to offer some hope to any senior executive who feels they cannot progress internally.
Having survived four major recessions in my international career including the regional crisis in Asia during the SARS epidemic, the currency collapse in Argentina, significant subsidy reductions in the Indian Ocean Islands and now the latest recession gripping the US in 2008-2009 there remains one common thread across them all – the critical need to ensure corporate alignment from top to bottom through these economic tough times.
As companies head into recessionary periods the same type of corporate behavior typically takes place:
Whether we are talking about going back to school or a looking for a new executive job, the question is, “should you always go for the highest ranking university or the most prestigious corporation?” Back in my parents’ day in China, all high school students took countrywide exams, the results of which determined university admissions. The higher one’s score, the more prestigious the school one attended. The ranking of each university as well as the scores of every student were known and matched so that the best performers went to the best schools.
I recently came across a great interview by Computer Weekly with Cathy Holley, a partner at AESC member retained executive search firm, Boyden. In this video interview, Holley outlines what clients are looking for when recruiting top senior executives for CIO positions.
Although the economy is still in the early stage of recovery, the return to improved levels of employment is at a snail's pace. Unemployment is more than 10% in the US and rising in nations around the world. Many of these executives in transition could use a helping hand from those luckily enough to not have been effected by the recession. This phenomena or moral obligation is what I call "Pay it Back" and "Pay it Forward."
Finding a new executive job at the senior level can be a challenge. Making yourself visible to executive search firms and executive recruiters is a positive way to advance your career to the next level.