June 1, 2009
Dear Ron:
I'll be handing over the Editor's Letter of the next few issues of Executive Insider to my colleague, ExecuNet senior contributing editor Joseph Daniel McCool. He'll be too modest to tell you he is the most widely quoted analyst of executive search issues, author of Deciding Who Leads: How Executive Recruiters Drive, Direct, and Disrupt the Global Search for Leadership Talent and an all-around great guy. But before I go, I want to share a few of the best tips that could help as you seek or prepare for a new career opportunity:
- Invest (time and/or money) in a well-done résumé and compelling social/business network profile. Research job descriptions that match your skills and interests and load those keywords into your documents. Post a profile on both large, open networks and more specialized, closed networks. These documents will represent your brand, and help build your Internet presence so others can find you. Seventy percent of executive recruiters reported to ExecuNet that uncovering positive information online improves candidates' job prospects, and can therefore elevate them to the top of the consideration list.
- Go to every networking meeting, conference, association lunch, industry event — anyplace where professionals are gathering. But attend with these specific intentions: to gather market information and help someone else. If you go with the expectation that you need to meet someone who will find you a job, you're going to subconsciously sell yourself and not be relaxed. You'll also set yourself up for disappointment when you don't leave with the desired outcome.
- Spend time online and visit job boards — but not for the sole purpose of attaching and sending résumés. Just a very small portion of search firm and HR recruiters reportedly find executive candidates through online job postings and advertising, according to an ExecuNet survey, and the overwhelming majority of positions with an annual salary of $200,000+ are not posted on the wide open web anyway. Instead, build your target list by researching companies that are hiring, growing, winning new contracts, developing new products and facing problems that your skills can solve. Don't forget to learn about the work environment too — "good cultural fit" is one of the top reasons executives are satisfied with their jobs.
- Be prepared to uncover and maximize opportunities. In a market like this one, you don't want to be hunkered down. You do want to be meeting colleagues from around your organization, industry and town. You want to see what you can offer to organizations you belong to that might be having a hard time managing with less revenue. If your skill or talent can be put to use, you'll find that others will remember and refer you when they hear of opportunities. Don't wait for the recovery to be obvious and the market floods with all the talent that was biding its time — be there first!
- Consider reinvention as an option. The economic instability has been a motivator for reassessing financial allocations and spending habits, and many are finding they are able to live comfortably for less money. You might discover that trading some income for the career you've always wanted is well worth it.
Robyn Greenspan
Editor-in-Chief
ExecuNet
Robyn.Greenspan@execunet.com
295 Westport Avenue
Norwalk, CT 06851
800.637.3126
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B. Recruiter Confidence Surges 16 Points
| Recruiter Confidence Surges
|  | Source: ExecuNet Recruiter Confidence Poll 05/09
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With some economic indicators pointing toward an easing recession, the outlook for the executive employment market is showing some improvement, as ExecuNet's Recruiter Confidence Index (RCI) climbed higher for the third consecutive month in May, finally reaching above the 50 percent mark for the first time since August 2008. Fifty-seven percent of surveyed recruiters were confident or very confident the executive employment market would improve over the next six months, lifting considerably from 41 percent in April, 38 percent in March and 28 percent in February.
"While many recruiters are still wary about the economy, a growing number are beginning to see signs indicating that the worst of the recession may very well be over," says Mark Anderson, president of ExecuNet. "Executive search firms, particularly those that specialize in high growth industries such as healthcare, biotech, energy, environmental services and clean technologies have seen a clear improvement in assignment growth in recent weeks."
Recruiters' short-term confidence also increased very slightly in May, as 19 percent report being confident or very confident the executive employment market will improve during the next three months — up from 18 percent in April.
Introduced in May 2003, the Recruiter Confidence Index is based on a monthly survey of executive search firms conducted by ExecuNet, a private network for business leaders. Designed to forecast job growth at the executive level, a reading below 50 percent indicates recruiters expect the number of search assignments in the next six months will decrease. Independent analysis of the RCI has confirmed it is a leading indicator for the executive employment market.
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| C. Growing Your Network
A strong network of contacts is essential for every successful executive, which makes network growth and maintenance even more vital. A recent survey by the Society for Human Resource Management (SHRM) indicates that while personal relationships are still the primary source used by executives for career networking, online professional networking sites and social media as crucial networking tools are on the rise.
SHRM's survey states that nearly 20 percent of employees use online professional networking sites such as LinkedIn and Plaxo to make contacts, a statistic supported by ExecuNet's recently released 2009 Executive Job Market Intelligence Report (EJMIR). According to EJMIR, 26 percent of executives surveyed are using business/industry online networks to make contacts.
At the same time, online social networking is still lagging behind as a preferred networking method, (16 percent are using it, according to SHRM; 14 percent, according to EJMIR). But regardless of which networking strategies they choose to utilize, executives must truly understand the real purpose of this job search and career management function. "There's a big difference between purposeful networking and friending," says Lauryn Franzoni, vice president and executive director at ExecuNet. "Do you want to meet the people who can bring you closer to your career goals or do you want to collect names? It's about cultivating your community, nurturing your network and maintaining meaningful — and reciprocal — connections."
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| D. Lead by Example
 Filled with examples of visionary leaders who have achieved greatness, John Baldoni's most recent book, Lead by Example [Amacom, 2009], offers a leadership guru's insights on how to inspire others and build lasting results. The internationally recognized leadership consultant, speaker and author removes the intricacies of leadership and offers 50 easily understandable ways leaders can inspire results. Built around character, communication, defusing tension and developing team confidence, Baldoni's 50 ways to inspire results gets to the heart of what makes a leader effective.
In this exclusive ExecuNet interview, ExecuNet Editor Will Flammé asks the author to share some of his views on effective leadership. Here is some of what he had to say:
Q. Your book, Lead by Example, shows how to build trust and win the respect of the people one leads. What are the highlights of how one achieves these two goals?
Leaders build trust and the win the respect of their people by doing what the organization expects and needs them to do achieve reasonable and sustainable goals. That is, they put the right people in the right places with the right resources and allow them to achieve these goals.
Good news is that I believe most bosses enter management situations with the support of their employees. Why? First of all, it makes life easy when you can believe that your boss is capable and competent. Second, employees want to work for someone who can help them do their jobs more effectively. So bosses, unless they are coming into a failing organization, receive the benefit of the doubt from their employees. The challenge for the boss is turn that benefit of the doubt into trust and respect. That comes from doing four things right:
- Set the right example. Leaders are judged by what they accomplish. Leadership is often about how you achieve those results; it is a collective act. You need the support of others to succeed, so it is your responsibility to live the values that matter most to our society: love, integrity and honesty.
- Act the role of a leader. Doing what the organization requires means helping it grow and develop. You put people into positions where they can succeed. You demonstrate adaptability and push for innovation. You also lead from the front. Be available during tough times, sometimes to lend a hand but always to provide counsel, support and resources so people can do their jobs effectively.
- Handle tough issues. Successful organizations are those that push decision-making to the front lines, but when the decision has long-term consequences you want leaders to decide.
- Put the team first. One earns followers' respect by doing the hard work, helping others to succeed and finding ways to recognize those who achieve. Part of putting the team first means stepping out of the spotlight so others can receive credit. Shine light on others' accomplishments, and when things go wrong, accept responsibility. Accountability reinforces trust, and in the process, nurtures trust.
[ExecuNet members can read an expanded and exclusive interview with the author in an upcoming issue of CareerSmart Advisor.]
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