Good News for Some Technical Sectors
ExecuNet released its Job Market Intelligence Report for 2012 not too long ago. With a 14% increase in job placements (assignments) expected throughout 2012, the top 3 growth industries or sectors are projected to be 1) Healthcare, 2) Technology, and 3) Manufacturing. Of course, the number of technology-related positions in the healthcare and manufacturing segments has grown tremendously. So, for IT and technical candidates, this is a good sign for the upcoming year (check out some more 2012 figures).
6 Months for a Job Search Is the Norm
For executive-level candidates, slightly more than half (52%) thought about a job change over the past 12 months. For those candidates that are conducting a job search now or have taken part in a job search over the past year, the expectation was that it would take nearly 6 months to complete the job search but that it would yield a salary or total compensation package increase of about 13%. The 6-month time frame is consistent with the results over the past several years, so there weren’t any apparent “breakthroughs” during 2011, which confirms what most job seekers have believed about the job market in 2011.
So Will You Stay or Will You Go?
Finally, 70% of executives anticipated low or relatively low turnover for the remainder of this year. This statistic cuts two ways. First, the most common view is that people view this figure as a favorable indication that the economy and the job market (and unemployment) have stabilized. So, we shouldn’t expect to see major layoffs or large-scale downsizing initiatives across the board–although some are going to occur regardless of how high or low the market goes. Of course, one can point to the fact that most organizations have gone through their exercise of “right-sizing” to flesh out the dead weight, get lean, cut costs, etc. As a result, there is little need to do more cutting in 2012 unless the economy takes a major turn for the worse. The second view–which still allows for the opinion above to be true–is that the expectation for little or low turnover is proof of just how tenuous the economy and job market really are. In our experience as resume writers and in the corporate world as hiring directors, when the economy is strong, people are more assertive in the job search. They hire resume writers to help them prepare the best possible document so that they reach for new heights and stretch for the dream job. When things are not looking strong, human nature is to hunker down, be cautious, play it safe, and weather the storm. People are more satisfied trying to hold on to what they have. In other words, for their own security, they decide to stay in their current job, thus reducing employment turnover expectations.
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