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5 Key Employment Trends for 2007
Dear SafetyXChange Members:
Every year at this time my company, ExecuNet, lists what we foresee as the key trends in the job market in the months ahead. We just did our forecast for 2007 and it's full of promise. Unemployment is low and opportunities are there for the taking - in both the U.S. and Canada. If you're currently out of work, you may not have long to wait to find a good job. And if you're just toying with the idea of looking for a better position, 2007 looks like a good time to make a move. Here are ExecuNet's top 5 trends for the 2007 employment market.
1. Competition for Talent Will Yield Better Pay Packages
Management and executive talent has been in high demand for the past three years and will be again next year. So we expect companies to resort to bigger and better incentives to lure new talent and keep their current key people from walking out the door. Sweeteners will include not just bigger bonuses but, given the recent gains for stocks, more frequent use of options and equity.
2. Mid-Cap Business Growth Will Make Up for Merger and Acquisition Job Losses
Mergers and acquisitions generally spell bad news for employment. But we expect the recent spate of "M&A" to increase demand for management and executive talent among small and medium-sized businesses. This will create a steady stream of new job opportunities across nearly all industries that will more than offset the consolidation and layoffs generated by the M&A'ing among the larger companies. At the executive level, job growth could increase by as much as 12%.
3. The Healthcare Sector Will Experience Strong Job Growth
For those of you who'd like a six-figure position, we suggest looking within the healthcare sector. Yes, there was a sell-off of healthcare stocks after the Democrats took back the U.S. Congress in November. But long term, there are approximately 76 million reasons (i.e., baby boomers) to expect the healthcare industry to create more six-figure job opportunities than any other. If healthcare isn't your thing, we also anticipate significant opportunities in the Business Services, Financial Services and High-Tech industries.
4. The Demographics Won't Cause the Lifting of the Gray Ceiling
In 2006, nearly three-in-four (74%) executives over age 50 that we interviewed told us that they believed they would be discriminated against on the basis of their age, and more than half (58%) believed their age had disqualified them for opportunities in the past. As baby boomers age, attitudes about older talent are bound to change. But we don't expect any seismic shifts in attitudes in 2007. Unfortunately, "experienced" candidates will still bump their heads against the gray ceiling. To find success, they'll have to exhibit the assertiveness and technology-savvy behaviors often credited solely (and unfairly) to their younger colleagues.
5. Digital Dirt Will Bury Increasing Numbers of Job Searches
Continuing a previous trend, more hiring managers will use Internet search engines to check out job seekers. In 2006, ExecuNet's exclusive research revealed that over one-third (35%) of executive recruiters who used the Internet to research candidates eliminated someone from consideration based on information uncovered online - up from just 26% in 2005. Given the long shelf life of Internet content and the growing number of employers that are turning to the web to learn about job candidates, we predict that the number of job seekers who will be prejudged or eliminated due to this "digital dirt" will climb even higher in 2007.
Conclusion
All in all, 2007 is shaping up to be a promising year for executive and upper management employment. And that rising tide should lift the boats of safety professionals. So while enjoying the holidays, take the time to reflect about your current position and where you would like to be at this time next year. I will leave you with the words of Abraham Lincoln: "Always bear in mind that your own resolution to success is more important than any other one thing."
Wishing each one of you career success as well as a Merry Christmas, Happy Hannukah, Joyous Kwanzaa and Happy New Year,
Lauryn Franzoni
ExecuNet
www.execunet.com
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PUTTING 'THINGS' IN PERSPECTIVE
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The electric bagel slicer:
One of the few motorized items that didn't make the |
The Things We Can't Live Without
By Glenn Demby
What are the things we can't live without? I'm not talking about health, happiness, peace and all the things money can't buy. I mean what material things do we think we need to live a decent life? Ask a bunch of people that question and you can learn a lot about the culture and values of the society they come from. The Pew Research Center put this question to 2,000 Americans. Here were the results:
- Car (91%)
- Clothes washer (90%)
- Clothes dryer (83%)
- Home air conditioning (70%)
- Microwave (68%)
- TV set (64%)
- Car air conditioning (59%)
- Home computer (51%)
- Cell phone (49%)
- Dishwasher (35%)
- Cable or satellite TV (33%)
- High speed Internet (29%)
- Flat screen TV (5%)
- iPod (3%)
What does it mean? I have no idea, although I'm betting that the Best Buys, Circuit Cities, Comp USA and other electronic store giants are loving every minute of it.
Source: "Luxury or Necessity? Things We Can't Live Without," Pew Research Center Report, http://www.pewresearch.org/assets/social/pdf/Luxury.pdf.
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