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Layoffs Below, Hires Up Top

Posted by: Jena McGregor on June 10, 2008

Layoffs may be getting announced with greater frequency than gas price increases these days. Last week’s unemployment rate made the biggest one-month jump in decades. But the carnage isn’t affecting all corners of the labor market. That’s at least what the results of the Recruiter Confidence Index, a monthly survey of executive recruiters by the ExecuNet organization, say. The index, reports ExecuNet, climbed to a 10-month high in May, as 66% of executive recruiters said they were confident the executive employment market would improve during the next six months, up from 61% the month before.

That surprising finding will hardly be comforting to those staring down a pink slip. But it’s good insight into what’s often really meant when CEOs say “people are our greatest asset” or “talent management is my number-one priority.” While those comments might seem to hint at a people-loving CEO, the focus is really on getting the right senior team and high-performing managers in place. The market for those jobs is always tight, no matter what the overall labor market may be.



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