Companies are stepping up their head hunts for the best executive talent as the world’s leading economies pull clear of recession.
The number of companies searching for managers and executives has increased by 4% in the past year, according to the latest data from the Association of Executive Search Consultants (AESC).
The news will cheer expats looking for overseas placements as the news heralds a reversal in the downward trend over recent years.
Companies across the globe are hunting talent – with only Central and South America showing a drop of 1.6% in the second quarter of 2014.
The two sectors showing strong growth were industrial companies and those in life sciences and healthcare.
Work life balance
Industrial firms looking for new staff soared by 15%, while life science and healthcare companies returned a 6% increase.
AESC president Peter Felix said: “Demand for executives is improving and shows companies especially in North America and Europe are ready to search for the best talent to nurture growth and strategic development.
“We hope to see this trend improve as economic growth and the rivalry for best talent increase.”
In a separate survey, AESC revealed senior managers are working longer hours but are happier with their work life balance.
Nearly four out of 10 executives work at least 60 hours a week. The average is 58.5 hours, but 52% said they were satisfied with their work life balance.
The report also disclosed 81% of executives consider their work-life balance when considering a job offer and almost a third would turn down a post if they thought the role would affect their out-of-work lifestyle.
More than a quarter (28%) would also reject a well-paid job offer if they believed the role would negatively impact their work life balance.
“Senior executives are obviously trying to find the best role that suits their lifestyle even if that means taking less money,” said Felix.
“They say technology is important in considering whether to take a job, because remote working helps improve their work life balance while keeping them in touch with what is going on back in the office.”
Felix argues that companies need to re-evaluate their working practices to attract the best talent rather than just think about the salary package.
“The world of management is changing. The financial services sector is already moving towards more flexible working and other sectors need to follow their lead if they want the best executives to work for them.”