ExecuNet’s “2009 Executive Job Market Intelligence Report” shows that search firms are using social networking/referrals for 37% of searches. Another 30% are using a firm’s database/personal contact list. Online job postings/advertising accounts for just 15%, while online search accounts for another 10%. Mining target companies scored the remaining 8%.
On the flip side, social networking accounts for almost three-in-four (73%) job opportunities uncovered by executives — trumping job websites and other forms of advertising.
Based on a survey of 5,060 executives and 476 search firm consultants and corporate HR professionals, the report also reveals that executive recruiters expect search assignments to decrease 14% in the first six months of 2009 before rebounding to close the year down just 4%.
While the worst recession in decades is taking its toll on the executive employment market, ExecuNet claims it is not affecting all industries or all companies equally. The report says new leadership roles continue to be created and found by those who remain visible and connected.
“Executives who are not building sustainable relationships in their network won’t be able to revive it in time for the turnaround,” says Dave Opton, CEO and founder of ExecuNet.