Fri, Jun 26, 2009 12:17 EDT

How Long Have You Been Looking for a Job?

Executives can expect to be on the hunt at least a year, says one executive recruiter.

Posted by: Meridith Levinson in Questions

Topic: Personal Management

Current Rating: Comments: 5

Earlier this week, I spoke with Joe Goodwin, president of Atlanta-based executive search firm The Goodwin Group. He says it's taking out-of-work executives an average of 12 months to find a new job during this recession. This new benchmark for the amount of time it will take an unemployed executive to find a job is at least three times longer than it took executive recruiters to place candidates when the economy was good. (I remember speaking with headhunters a few years ago who told me at the time that it takes them three to four months to place a candidate with a client.)

"A few years ago, you could count on getting three interviews during the first three months you were out of work," says Goodwin. "Out of that, generally speaking and assuming your qualifications are there, you were probably going to get an offer. Based on what I'm seeing in the market today, it's now probably taking 10 to 12 interviews to yield the same results."

If you're averaging one interview a month in this job market, adds Goodwin, you're doing very well.

Executive job seekers must realize that their job search will likely last a year. Job searches are taking longer because so few companies are hiring, and for each position that is open, hundreds of highly qualified candidates are applying. So it's taking employers longer to evaluate all of those candidates.

Nevertheless, Goodwin says many executives are underestimating the time required to find a new job in the current market. Consequently, he says, they're getting discouraged too early in the process, and they're accepting lesser jobs or giving up altogether.

If you're unemployed and getting discouraged, do yourself a favor: Cut yourself some slack and remember, "It's not you. It's the economy."

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Mon, Jun 29, 2009 12:04 EDT

JOB HUNT

Posted by: Anonymous
Rating:

Simply too vague. Not helping as the title implies.

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Tue, Jun 30, 2009 9:31 EDT

A Pat on the Back

Posted by: Anonymous
Rating:

While not delivering groundbreakingly new information, people who are out of work need positive reinforcement and motivation. You start to doubt yourself and your abilities after being out of work for 5-6 months. Good article delivering a pat on the back instead of a kick while your down.

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Tue, Jun 30, 2009 11:49 EDT

CIO's need a year for a job hunt ?

Posted by: H D Hunter
Rating:

Nice, soft as a baby's behind, but nice. If there is no urgency to hire a CIO, after awhile ( 6-7 months ) the CEO should be asking " Who is running things now ? SR. VP of IT Mr. CEO " Then why do we need a CIO ? or " Promote this person then ! " BE CREATIVE ! I have put quite a few out-of-work CIO's into companies as an ' Interim CIO ' or as an ' Executive Consultant '. My candidate gets anywhere from $ 350- $ 400 / hour, plus expenses. Everyone wins, the company gets much needed strategic leadership & they can capitilize these expenses. The CIO is earning 40k to 50k month while continuing to build his / her skill sets & I get a percentage of the bill rate plus being in position to fill the CIO role with an FTE. Basically, this is a contract for hire at an executive level. This will only work if you have an executive candidate in the top 5 % of his / her field.

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Tue, Jun 30, 2009 11:54 EDT

Executive job search

Posted by: Far Side
Rating: 83.3333

What constitutes and "executive" - past rank, experience, or ability to act? We always look for the typical golf trotting persona who exhibits presence and style while seemingly show that they have talent. We talk about having the requisite skill set, education, and people skills but end up finding idiots, imbeciles and stupid people who literally drive companies to the ground because they really did not know what they were doing - thus the caution to hire new idiots.

On the other hand, what is happening is that the job placement market is very fragmented and there is no science to the search of the right individual for each job category. Each executive recruiter literally has a limited database, then they horse trade with affiliated firms, and then place a candidate. What is wrong with this picture is that they fail to look at 99.99999% of the real candidates out there and end up placing actors.

The market needs "real" leaders who really know their stuff and not actors....from the "real" talent pool and not from a limited circle of the "club".

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Sat, Jul 11, 2009 17:53 EDT

Executive job search

Posted by: Anonymous
Rating:

"Far Side", Completely agree with you, and have nothing to add. Great post.

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