It’s estimated that the financial downturn is likely to increase job turnover at the senior levels as companies search for executives able to weather the financial storm.

Top search companies and Headhunters in The City are gearing themselves up for an increase in the number of companies searching for senior executives with the right skills and experience.

However, if you think that a financial downturn will reduce salaries or provide a better negotiation platform when discussing the remuneration package with a new hire…then think again.

Senior executives with the necessary skills and experience of working in a financial downturn are few. As a result we estimate that incoming top executives will be demanding higher salaries and more severe severance packages.

We consider that this is more likely where the incoming executive is also a “Change catalyst” and is being recruited to turn the business around or to protect it.

However, we also predict that recruitment for middle management will decline as “change catalysts” shed staff in order to make bottom line savings.

This entry was posted on Wednesday, January 30th, 2008 at 6:31 pm and is filed under Articles, Job Transition, Recruitment.