As the economy struggles toward recovery, the outlook for executive hiring is showing signs of improvement -- according to Russell S. Reynolds Jr., chairman of the executive recruiting firm, Rusell Reynolds Associates Inc.
His conclusion is based on a recent survey by the firm on senior executive demand directed toward 1,300 chief executive officers of major firms throughout the country. The respondents represent the 1,000 largest US industrial firms, together with the 50 largest retailers, transportation companies, utilities, banks, insurance companies, and diversified financial companies.
When asked their hiring plans for the next 12 months, 28 percent of the CEOs said they expected to hire more senior managers -- defined as executives earning more than $50,000 annually. This is an increase from last year's survey, when 20 percent of the CEOs expected to hire more high level executives in the next year.