A Client Speaks - 1SC&C Placement Statistics
| Stewart, Cooper & Coon - Executive Search Statistics | |||||||||
2001 |
2002 |
2003 |
2004 |
2005 |
2006 |
2007 |
2008 | 2009 | |
| Median Length of Job Search (all Clients in Months) * | 7.4 |
6.9 |
6.6 |
6.2 |
5.8 |
5.7 |
5.6 | 6.1 | 7.2 |
| Median Length of Job Search-Unemployed Clients | 6.9 |
6.4 |
5.9 |
5.3 |
4.9 |
4.8 |
4.7 | 5.5 | 6.7 |
| Median Length of Job Search -Employed Clients ** | 7.9 |
7.3 |
7.2 |
7.0 |
6.6 |
6.5 |
6.4 |
6.7 | 7.5 |
| SC&C Client Success Rate *** | 95.4 |
93.1 |
93.7 |
94.4 |
95.1 |
95.8 |
96.2 |
96.3% | 96.1% |
| Percentage of Clients Relocating | 17.9% |
16.4% |
13.5% |
13.9% |
12.6% |
14.9% |
15.1% | 14.6% | 13.2% |
| Percent of Clients Changing Industries | 45.3% |
42.6% |
37.4% |
37.6% |
37.6% |
38.4% |
39.4% | 39.7% | 37.3% |
| Percentage of Clients Winning Equal or Better Salaries **** | 82.7% |
84.9% |
89.3% |
90.4% |
98.3% |
98.9% |
99.2% | 99.3% | 98.1% |
Analysis of Data - The U.S. Department of Labor states that, in normal economic condition for the United States, a typical job search takes one month for each $10,000 in desired income. An executive making $150,000 would therefore be expected to spend a minimum of 15 months or more in search to secure the next move in their career. We are not talking about a "job" but the next move up in their career path.
Stewart, Cooper & Coon, executive candidates spend around 50% less time in a job search than their peers who have no assistance.
The recession which began in 2007 continued to worsen through 2008 and into 2009. Hiring ground to a painfully slow pace in the late third quarter and, for all intent and purposes, completely shut down in the forth quarter of 2008. This was the case for the first quarter of 2009, as well.
These trends continued through nearly the entire second quarter of 2009. It was in May of 2009 that we began to see notcieable movement in executive hiring patters and numbers and this trend has continued through the balance of 2009.
However, there was not enough movement in the last two quarters of 2009 to counter the abysmal job loss conditions stemming from the last half of 2008 that drove these trends into the first half of 2009. The credit crisis still continues to be a major factor in the economy. However, in the 4th quarter of 2009 we have seen new highs for the stock market which means capital is becoming available and, correspondingly, we have seen hiring freezes being lifted and executives once again being employed on a steady basis.
* The median time frame range for SC&C clients in search in 2009 was 7.2 months and the base salary averaged $147,645.
** Placement time ranged between 5.5 months for unemployed candidates and 6.7 months for those who were employed. The difference in search times between unemployed and employed job seekers is because those who are employed have less time to engage fully in a search and their searches take longer. Those that are unemployed have more time and their searches usually take less time. This was a slight increase in search times from 2007 to 2008 but our numbers are still far below the U.S. Department of Labor projections for a normal job search.
We remain pleased that search times for Stewart, Cooper & Coon, historically, have fallen well under the national job search time-frame expectations and we project that our placements will continue our steady trend, throughout 2009, even though the economy is projected to take further losses.
Causes for campaign length have a variety of causes: education level, work history, employment record, salary requirements, desirability of their particular skill sets, the economy, off-shoring trends for certain industries, interviewing skills, the amount of time they have to devote to their job search, their willingness to actively participate in the campaign strategy, the marketing package they are presenting to hiring authorities and many other valid reasons that may or may not be able to be controlled by either the candidate or SC&C.
*** Stewart, Cooper & Coon candidates who complete their placement programs achieve a targeted employment success rate of 96.1%. The remaining 3.9% drop out of the program after making personal decisions regarding purchasing a business, franchising, pursuing an advanced degree, taking early retirement, or for similar reasons.
**** Our clients receive 15-40% larger financial packages than do their peers. However, the economic conditions and the significant numbers of job seekers flooding the market has created stiff competition and companies are able to offer reduced salaries and compensation packages, thereby reducing the number our clients achieved for 2009 overall. Again, the same conditions applied in the first half of the year but in the late third and throughout the forth quarter of 2009, we began to see significant salary increases in the negotiation processes. We anticipate this trend to continue throughout 2010, as well. This encourages us that, despite a recession, our clients will continue to receive larger offers, because of the processes and methods we train them in during their search.
The lower numbers from 2001-2004 reflect the American financial uncertainties following the 9-11-2001 attack on the Twin Towers of the World Trade Center and the economic chaos that followed for the next three years.
