Diversity > Forecasts > Generational Hiring
31 Percent of Employers Plan to Hire Executives–But Where’s the Diversity?
- May 4th, 2012
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Things are looking up for experienced talent. That’s right — the hiring landscape for executives is improving along with the rest of the labor market, according to a new survey from CareerBuilder and HeadHunter.com (a recruitment site dedicated to connecting employers with management and executive-level talent) of more than 2,000 hiring manager and HR professionals.
Just how much? Well, 31 percent of employers expect to hire for executive-level positions over the next six months, up from 23 percent in October 2011′s executive forecast.
Despite this boost in hiring, we’re still facing a deficit of diverse workers and women when it comes to taking on executive roles. Let’s take a closer look.
What’s ahead for executive hiring
Employers are recruiting senior leadership for a range of business functions, but some areas are more in demand than others:
- Nearly a quarter of employers (24 percent) will hire in business development
- 23 percent will hire in information technology
- 22 percent will hire in sales
- 19 percent will hire in marketing and 19 percent in accounting/finance
As Brent Rasmussen, president of CareerBuilder North America, observes, the need for diverse talent is paramount:
“Hiring trends for executive-level management mirror what we’re seeing in the labor market for all workers. As companies look to expand their sales force, develop new products and improve their tech infrastructure, the need for diverse, experienced leadership grows along with these initiatives.”
Demographics: Where’s the diversity?
Many hiring managers revealed they are still lacking diverse leadership at their organizations. Twenty-two percent of companies still don’t have female executives — not a surprise given that a mere 14.1 percent of women reportedly hold executive officer positions at Fortune 500 companies. In addition, 41 percent of companies do not have even one executive-level employee in any of the following demographics: African American, Hispanic, Asian, LGBT, and Disabled.
One in five companies have Millennial-level executives
One demographic that is seeing a rise in executives is Millenials; with the emergence of digital, mobile and IT as high-growth sectors, more Millennials are climbing their way to the top. Twenty percent of employers say they have executives under the age of 30.
What do employers (really) want in executive talent?
Often, employers will more heavily weigh prior accomplishments and demonstrated leadership ability than expertise in a particular industry. Though most hiring managers say prior experience in the industry for which a candidate is applying is a crucial requisite for landing a top job, 35 percent say they’ll consider candidates who don’t have a background in the industry.
The top qualities employers say they seek in executive-level candidates:
- Proven ability in addressing problems with effective solutions (62 percent)
- Adept at motivating others (54 percent)
- Can act with speed and agility in a changing market (47 percent)
- Is creative (43 percent)
- Has emotional intelligence (38 percent)
- Experience in different areas (37 percent)
It may come as a surprise to learn that only 20 percent say they look for an MBA or comparable higher-level degree when evaluating executive candidates.
Does anything surprise you from the latest executive hiring forecast in relation to your own hiring?
ABOUT HEADHUNTER.COM: HeadHunter.com is a recruitment site for management and executive-level talent. Founded in partnership with CareerBuilder.com, HeadHunter.com is a targeted approach for connecting high-level, experienced professionals with their ideal career opportunity. For more information, visit www.HeadHunter.com.
About Amy Chulik McDonnell
Originally hailing from Ohio, Amy is a content strategist on the marketing and communications team who has been with both CareerBuilder and the city of Chicago for more than eight years. She writes on a range of recruitment topics on The Hiring Site, striving to bring a dose of clarity and humor to sometimes complicated issues around employee attraction, engagement and retention. The voice of @cbforemployers on Twitter, Amy also writes and edits content for the CareerBuilder website and CareerBuilder ebooks, emails, marketing campaigns, and more. When she's not working, Amy spends as much time as possible reading, cooking, writing short stories, eating Nutella out of the jar, waiting for CTA buses and trains, going to see her favorite bands live, and spending time with people who inspire and challenge her.Stay Connected
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