WHAT’S HOT?

According to the 15th annual Executive Job Market Intelligence Report, the market is hot for senior executives with solid operations management, business development, and finance experience. Candidates who offer a solid value proposition in these areas will be in–demand … even in this robust employment market.

Growth in leadership hiring will focus on candidates with functional proficiency in marketing, sales, and general management.

*Source: the Executive Insider – 224761

HOT EXECUTIVE MARKET

Peter Weddle states that the Recruiters Confidence Index (RCI) is "based on a survey of thousands of executive recruiters, it provides a useful picture of trends on senior level employment."

*  Demand for executive talent is at a six-year high

*  78% of executive recruiters are confident the executive employment market will improve in next six months

*  78% of recruiters also believe the short-term employment market will improve in the next three months

*  The five career fields predicted to show the most growth are: Financial Services, Healthcare, Pharmaceuticals, Manufacturing, and Consumer Products

* The functions predicted to see the most opportunity are: Sales, Business Development, Finance, Operations Management, and General Management

Source: CMI e–bridge #354 taken from Peter Weddle’s Newsletter, February 8, 2007
RCI Summary

Fail Rate for Newly-Hired Executives

I was chatting with a colleague earlier this week, and he mentioned a statistic that I had to share with you … “40% of executives in a new job failed within eighteen months” (Manchester Partners International, USA).

A little research uncovered an even more amazing statistic published by The Center for Creative Leadership, which says … “35% of executives failed within their first few months.”

"Failing includes being terminated for performance, performing significantly below expectations, or voluntarily resigning from the new position."

These statistics are important because …if you are the #2 or even #3 candidate for a position you really wanted at a company you truly felt was a great fit, and you can live with being the second choice … there just might be another opportunity in the not–to–distant future.

Make it a habit to follow up regularly with decision-makers to see how things are going in their organization. A consistent follow up plan could uncover that next great opportunity.

CPA CFOs

There was an interesting Finance Quiz in CFO.com recently. For those who missed it, you can read it here: http://www.cfo.com/article.cfm/7938502/c_7935456?f=home_todayinfinance

For me, and for those of you on a CFO–track, this question should have caught your attention.
3) What percent of today's Fortune 1000 CFOs have neither an MBA nor a CPA?
a. 92 percent
b. 24 percent
c. 10 percent
d. 55 percent

Answer: b. Twenty-four percent of Fortune 1000 CFOs have neither a CPA nor an MBA. In 2003, many more — 41 percent — lacked either qualification.

A–players who want to go to the top need to understand the importance of this statistic. The number of CFOs – who are not credentialed – has dropped considerably in the past three years, and that number will continue to fall.

CPA CFOs are the candidates of the future. According to Spencer Stuart, the number of CFO-CPA’s among Fortune 1,000 companies has almost doubled in the past two years. The trend to recruit CFO’s with more technical accounting backgrounds will probably only continue into the next decade. Not being a CPA will make it increasingly more difficult to compete for top CFO positions.

KNOW YOUR VALUE, ACE THE PROCESS!

Nearly one-third of CFOs report that finance and accounting job applicants make more missteps in the interview stage than at any other point in the hiring process, according to a survey of 1,400 CFOs by Robert Half International.

Applicant mistakes

Interview

32 percent

Resume

21 percent

Cover letter

9 percent

Reference checks

9 percent

Interview follow-up

7 percent

Screening call

6 percent

Other

2 percent

Don’t know/  no answer

14 percent

Source: Workforce Recruiting Management, December 22, 2005, Vol. 3, No. 23

HOW HAPPY ARE YOU?

Recent stats from a Conference Board Report (aimed at senior business leaders) in “Fast Company” reports the following …

––Only 14% of US employees are very satisfied with their jobs

––25% say they are just showing up to collect a pay check

––66% say they can’t identify with their employers business objectives

What about you? Send me an email (cindy@career-management-coach.com) and tell me how happy you are with your current job … and what you are doing about it!

HAPPY WITH YOUR JOB?

A quarterly report on job satisfaction and dissatisfaction in the first quarter of 2005 from the report Hands on Research, published by Career Builder.com predicts the following:

* Healthcare is one of the leaders in job satisfaction. An increase in satisfaction from 62% to 71%; dissatisfaction remained at 7%. The biggest improvement was worker’s perception of how well senior management is leading the organization.

* Retail industry, with high turnover, showed a slight 5% increase in job satisfaction, and a drop of 5% in job dissatisfaction. Major concerns continue to be low pay, lack of advancement, and workload.

* Hospitality job satisfaction dropped by 5% from 50%, and job dissatisfaction increased from 17% to 28%. Pay, work/life balance, and career development were the biggest reasons for dissatisfaction.

* Government job satisfaction dropped slightly each quarter by 5%. Two major factors were career advancement and feelings that executive leadership was not meeting expectations.

* Sales workers showed a light increase in job satisfaction from 40% to 45%. Job dissatisfaction increased to 25%, with major issues being workload, pay, and work/life balance.

* Information technology job satisfaction dropped from 55% to 51%. Discontent with career development dropped from 41% to 33%, pay from 41% to 36%, and work/life balance improved from 29% to 33%.

* Accounting/Finance showed an increase in job satisfaction at 58% from 48%. Accounting/Finance workers report a more manageable workload but have a higher dissatisfaction with pay, 51% up from 42%. More than one-third are looking for better training and career development programs to grow professionally, up from 29%.

Reprinted with permission from Career Masters Institute Ebridge #276

THE INTRIGUING, ALL–PURPOSE GOOGLE

Google has fast become a valuable 21st century tool. A volume of information is now available instantly, virtually eliminating the excuse of “not being prepared or informed” for any conversation.

––Want to find out information about the person(s) who will be interviewing you? Google their names. You might be surprised at the wealth of information you will find, including great ideas for ice breakers.

––And what, exactly, does Google have to say about you? You should know – because chances are very good that the person interviewing you already knows … including comments made in newsgroups, chat rooms, and other public forums.

––Want to find out information about a job title? Google it. For instance, you could type in “Director of Finance job requirements” and find posted positions along with a wealth of information about requirements for the DF position that is valuable for your resume and your interview answers.