A Client Speaks - 1SC&C Placement Statistics
| Stewart, Cooper & Coon - Executive Search Statistics | |||||||
2001 |
2002 |
2003 |
2004 |
2005 |
2006 |
2007 |
|
| Median Length of Job Search (all Clients in Months) | 7.4 |
6.9 |
6.6 |
6.2 |
5.8 |
5.7 |
5.6 |
| Median Length of Job Search-Unemployed Clients* | 6.9 |
6.4 |
5.9 |
5.3 |
4.9 |
4.8 |
4.7 |
| Median Length of Job Search -Employed Clients* | 7.9 |
7.3 |
7.2 |
7.0 |
6.6 |
6.5 |
6.4 |
| Percentage of Clients Relocating | 17.9% |
16.4% |
13.5% |
13.9% |
12.6% |
14.9% |
15.1% |
| Percent of Clients Changing Industries | 45.3% |
42.6% |
37.4% |
37.6% |
37.6% |
38.4% |
39.4% |
| Percentage of Clients Winning Equal or Better Salaries *** | 82.7% |
84.9% |
89.3% |
90.4% |
93.3% |
95.6% |
97.4% |
Analysis of Data - *The U.S. Department of Labor states that a typical job search takes one month for each $10,000 in desired income. An executive making $125,000 would expect to be in search mode for at least 11-13 months. Stewart, Cooper & Coon, executive candidates spend significantly less time in a job search.
We believe that the recession that began in 2007 will become worse throughout 2008 and possibly beyond. The economic pressure this places on corporations will be very problematic for the job seeker in two ways. The corporations will hire less people and they will do so at much slower rates.
Moreover, our analyst's summary of a recent Monster financial report is as follows: "...the active hiring market as reflected in Monster's revenue and profit in 2007 has gone from flat at year end to predictions of a significant downturn in 2008."
We interpret this, in light of the oncoming recession predicitions, to mean that job seekers will have dramatically fewer (if any) interviews on the horizon and fewer job opportunities popping up than they may have experienced in the past two years.
While the median time frame range for SC&C clients in search in 2007 (an average range of 4.7 months to 6.4 months) was far under the last six-year historical average as stated by the U.S. Department of Labor, we project that in 2008, even SCC clients will feel a slight increase in job search time frames - solely driven by the depth of the recession.
We have been historically pleased that Stewart, Cooper & Coon clients have fallen well under the national job search time frame expectations and we intend to continue these positive trends throughout 2008.
* Executives 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 is reflected in the chart above.
* Causes for campaign length vary.Here are a few of the 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 99.2%. The remaining .8% 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 also receive 15-40% larger financial packages.
*** Some clients, approximately 2.6%, earn the same or less because they are not willing to move, switch to a job that they feel more satisfied with than what they were doing and for a variety of similar reasons.
