Demand for Top Talent Picking Up

April 26, 2010 – As the global economy emerges from recession, businesses representing a broad spectrum of industries are experiencing increased competition for new senior executive and C-Suite leadership, according to the Business Barometer Survey by IMD International Search Group. Leading the way in projected increased talent demand were industries including consumer goods & services (60.9 percent), financial services (56.5 percent), and both technology & communications and energy & natural resources (47.8 percent). Hiring new talent was cited by 52 percent of survey respondents as key component of their strategic approach as companies compete for new leadership. An equal number, 52 percent, cited reacting to the changing demands and competitive shifts in their industry as a driver in the demand for new talent. At the same time, 65 percent indicated continued difficulty acquiring top-level talent, in spite of continued record high unemployment in most parts of the world. As an indicator of one of the key difficulties, the survey also found that concerns about market instability and uncertain economic conditions are keeping qualified executives on the sidelines at a time when potentially career-changing opportunities are beginning to present themselves at a faster pace. “Client demand is definitely picking up. At the same time, filling senior executive and C-suite positions is a significant challenge, as stability and security are a bigger priority in executives’ minds than in previous times,” said Thomas Fuller, IMD board member and general managing partner of Epsen Fuller/IMD in New York.