Global Instability Keeping Execs From Career Moves

December 21, 2009 – Businesses worldwide are having trouble acquiring top-level talent yet a recent survey of its global members by IMD International Search Group, an international search firm, found that concerns over market instability are making executives think twice before considering career changes. A majority of those survey respondents indicated difficulty in acquiring top-level talent despite rising unemployment. Concerns about the state of the global economy are what 69.6 percent of respondents believe are hindering executives from making a career change. When it comes to what would most entice a senior executive to consider a career move, 66.7 percent said a “better role/increased responsibility,” while 50 percent said “increased total compensation.” “After witnessing the turnover caused by the global economic meltdown in 2008 and the early part of 2009, we are now experiencing increased demand from companies across a broad spectrum of industries trying to fill C-suite positions,” said Albert Hiribarrondo, president of IMD International Search Group and managing partner of Sirca/IMD. “However, many candidates are less willing to make a career move, given lingering economic concerns, and will only consider an opportunity if there is exceptional financial and employment security offered at the new position.”

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