Executives and recruiters expect <br>employment market to improve in 2003

Biotechnology, Healthcare, and Manufacturing Industries
Are Projected To Drive Growth

Two separate surveys conducted by ExecuNet, a career management and recruiting resource center for executives and recruiters, reveal both executives and executive recruiters are expecting a stronger employment market in the year ahead.

According to a survey of 1,185 executives, 79% believe the economy is going to rebound in 2003 and 21% expect economic improvement will be postponed until 2004. When asked about their expectations for the executive employment market during the next twelve months:

65% expect the employment market will be better in 2003 than it was in 2002;
30% believe the market will remain unchanged from 2002; and
5% think it will be worse than 2002.

Executives are cautiously optimistic that the job market will start to look better in 2003, says Dave Opton, CEO and Founder of ExecuNet. As corporate profits improve, we expect to see increased activity in the executive employment market.

The three most compelling reasons an executive would change jobs in the year ahead include greater challenge/responsibility, selected as the most significant reason by 34% of those surveyed, increased compensation, identified by 20%, and improved lifestyle (12%).

Recruiters Also Optimistic

A survey of 323 search professionals, reveals recruiters are forecasting a 15% increase in executive search assignments for 2003 when compared with 2002, a year in which search firms reported a 20% drop in senior-level assignments from the prior year.

The five industries recruiters expect will drive much of this job growth are:
1. Biotechnology/Pharmaceuticals;
2. Healthcare;
3. Manufacturing;
4. Financial Services; and
5. Consumer Products.

After enduring two consecutive years of double digit loses, it's refreshing to see signs suggesting the executive search industry could reverse its course and grow in 2003, says Mark Anderson, President of ExecuNet. If the executive employment market continues to grow at the pace set in the first two months of 2003, the expectations of executives and recruiters will be fulfilled, as demand for executive talent is off to a strong start.

For 15 years ExecuNet has kept executives and recruiters informed of trends in the executive employment market. It is the first source executive and corporate recruiters use to find top executive talent. Founded in 1988, ExecuNet posts upwards of 25,000 executive jobs annually; provides information on salaries and market trends; hosts networking meetings in major metropolitan cities across the U.S.; and publishes four newsletters covering the latest tips, tactics, strategies, and resources for executive job search, career management, networking, and recruitment.