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7/25/04
EXECUTIVE SUITE Despite reports of an improved economic climate, some jobless managers and executives are having so much trouble finding new work that they are relocating or searching for jobs in other industries, according to a recent survey. Released last week, the survey of 3,000 laid off managers by Challenger, Gray & Christmas, reveals that 16.5 percent relocated for a new job in the second quarter, up from 13.2 percent in the first quarter of 2004. The Chicago international outplacement firm described the second-quarter increase as the highest since the fourth quarter of 2001, when 17 percent of job seekers relocated. Chief executive John Challenger attributed the change to the respondents' lack of confidence in the job market and sluggish hiring by cautious employers. He said companies are beginning to hire, but jobless workers are still spending a significant amount of time hunting for work. ''The economy may be at its strongest since 2000, but the job market has been much slower to recover,'' Challenger said. ''While evidence shows that employers are finally starting to add some workers, we have not seen a significant drop in job search times, which strongly suggests that employers are being very selective.'' A separate report by DBM, the global consulting firm, supports Challenger's findings. DBM surveyed 64,000 clients with a median age of 44 who were among more than 218,000 people who took part in the firm's career transition programs. The DBM study found job search times increased to 5.2 months by the end of 2003, up from 4.2 months in 2002. DBM also found that during the same period 81 percent of its clients decided to take a job that paid less than their former position. In addition, 78 percent changed careers, up from 73 percent in 2002. The DBM study, like Challenger's findings, suggests that hiring will not reach the levels workers experienced after the previous recession. 
According to the Challenger survey, for example, 51.2 percent of the managers and executives polled in the second quarter said they found jobs in other industries, up from 43.6 percent in the first quarter. ''At this point, the best way to improve one's chances of finding a job quickly is to cast the widest net possible, which means looking for jobs out of town and in new industries,'' said Challenger. ''Managers and executives who have been reluctant to adopt these strategies earlier now appear to be embracing them.'' Challenger said job seekers who are reluctant to try new industries should give it a chance. ''Many industries probably appear to be highly specialized and some job seekers probably assume that they need years of experience in the industry just to get in the door for an interview,'' he said. ''In fact, many employers seek individuals from different industries in order to get a fresh perspective on the issues and trends they are facing.'' He said many workers would rather stay in the same location following a job loss because of family commitments and friends, even though leaving the area might offer greater job opportunities. --DIANE E. LEWIS Working from home low on priority list Here is a perk that is off limits for top brass: Working from home. Telecommuting from home is ranked a top priority by just 18.7 percent of managers earning $100,000 or more, according to a survey of 1,078 executives by TheLadders.com, an online executive job search service. Senior executives realize they are required to be visible and available if they want to do well. That doesn't mean executives wouldn't like to have the perk, however. ''While few of the survey respondents ranked working from home as a very important perk, almost 37 percent would take advantage of it if it was offered,'' said TheLadders.com. The survey also found that 34.3 percent of the executives surveyed said the flexibility to work from home is important, but not a deal-breaker. Just 10.4 percent of those surveyed said they'd rather not have the option at all. --DIANE E. LEWIS
WORKPLACE The world's top companies are not prepared for the coming battle for talent. So says Accenture, the management consulting firm, in a report based on a survey of 244 senior executives in the United States, Europe, and Australia. Of those polled, 41 percent said the war for talent will have an impact on their companies in the next 12 months, up from 23 percent who said they are currently being affected by increased competition for talented workers. Despite this, most said their organizations do not have the resources to attract and keep the best workers. Only 17 percent surveyed said their workforce is a top performer in its industry and just 8 percent felt their corporate culture had made the kind of changes necessary to compete effectively for talent. However, 65 percent said developing the leadership capabilities of existing staff would help their firm remain competitive and attract new talent. In addition, 49 percent said creating a culture that adapts quickly to change is also important. While 77 percent of respondents said it was important that training matched their companies' business goals, only 11 percent felt they were making progress in that area. Seventy-five percent said training was important because it could boost workforce productivity. However, just 16 percent were satisfied their training efforts had improved productivity. The survey findings also indicated that executives are shifting their focus from cost control to growth, said Accenture. For example, only 32 percent of those polled said their primary focus today is on cost control. However, 42 percent said their companies will focus primarily on growth in the coming year. ''The recent focus on cost-cutting has led many companies to lose marketplace momentum,'' said Peter Cheese, managing partner of human performance at Accenture. ''They need to regain their competitive edge in terms of recruiting, retaining, and developing high-caliber employees.'' The senior executives surveyed represented 17 industries, including financial services, manufacturing, and government, Accenture said. --DIANE E. LEWIS
WORKING LIFE Baby boomers will not be retiring in droves. Today's 50-somethings are more likely than earlier groups to say they will be working full time after the age of 65, according to a report sponsored by the University of Michigan Institute for Social Research and the Consortium of Social Science Associations. The study is part of an ongoing research effort that began in 1992. As part of the project, 22,000 US workers 50 or older are surveyed every two years. The researchers collect information on how they view their physical and mental health, insurance coverage, financial status, families, retirement planning, and other topics of interest to them. The analysis shows an across-the-board increase in the proportion of people over 50 who see their working lives lasting well into their 60s. The largest jump occurred among men with some college education. In that group, 32.4 percent surveyed in 1992 expected to be working full time after age 65, compared with 46.3 percent surveyed in 2004. --DIANE E. LEWIS
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