More executives are on the move, but many of them are expecting to move laterally and not advance into a position where they will earn an increase in compensation. These are some of the results that were unveiled in the 2011 Mid-Year Executive Outlook Report by BlueSteps.com, an online career management service for global senior executives.
BlueSteps, a service of the Association of Executive Search Consultants that provides users with visibility to 8,000 leading executive recruiters worldwide, found that 82 percent of the executives surveyed are looking for new opportunities. This indicates that despite the slow economy, senior executives are thinking about changing jobs more than they were during the recent recession.
That’s a good sign, even though these executives aren’t necessarily seeking better positions and pay. BlueSteps indicated that 65 percent of these executives expect to make a lateral move, and remain there and at their current compensation level for possibly the next three to five years. This seems to indicate that while they think the economy is strong enough to switch jobs, it is clearly not growing enough for them to think they can increase the status of their job and their pay significantly in the near future.
Another finding by BlueSteps really comes as no surprise. As it has been trending for the several years for workers at all levels, print ads, online job sites, and organizational websites also are plummeting in their value to executives seeking new opportunities. Instead, using executive recruiters and networking are the methods being used by executives, too.
Seventy percent of the respondents expect that referrals, industry events, networking groups, and recruiters will be the most successful avenues to gain new employment in the future. This indicates to me that working with recruiters and through social media techniques and getting the personal touch through networking is what you need to do to advance your career.