The global recession has led to a dramatic decrease in the number of executive search firms. Plus, with less firms in this field and the incredible growth of online searches in general, many more candidates now rely solely on online executive job search services.
It is not surprising that online services have emerged to serve this segment of the job market.. Sites such as Monster.com and Careerbuilder.com have long been serving both employers and job seekers in the technical, industrial, blue collar and financial fields.. Now, executive search organizations, many of whom originally worked offline in this industry, are realizing the need for the online world to increase their scope of clients. Corporate presidents, vice presidents, Chief Financial Officers, and Chief Executive Officers are in the process now of pounding the keyboard for career opportunities rather than relying on the old boy network that was their mainstay for so many years.
Realizing the increase in competition and the decrease in number of candidates, online executive job search firms attract their candidates with many services besides client contacts, such as resume review services, networking opportunities and long term career development. It is wonderful to know that most career search services are still available for an offline search, but, the bad news is that there are fees involved.
Times have changed, and long gone are companies that were paying top dollar for notorious search firms to reliably connect with the best candidate. The tables are turned and candidates are now calling the search firms more often than the search firms are calling the candidate, and paying for the privilege.
Executives feel more comfortable when they work with a firm that concentrates on companies similar to the one they are leaving, especially since in an industry such as online executive job search, contacts are their stock in trade. Years of experience in one area of business will help a firm develop a broad range of contacts in that field. Despite the headlines of senior executives crossing the industry barrier (Nardelli switching from Home Depot to Chrysler might be a bad example of this),as an executive you would probably have better results if you search in your own field of expertise of IT, finance, technology, healthcare, etc.
With the multiplication of the services offered in all fields online, it makes sense to have executives and search firms taking advantage of the worldwide web.
The candidate for an executive position when s/he uses the internet for his or her job search. A lot more can be done without even leaving the desk. And paperwork is eliminated for interviews, thank you letters, additional information or references can be handled at superspeed since the use of emails is perfectly acceptable in an online executive search.
The speed of the computer is available to the search firms as well, since advertising campaigns reach potential candidates in such a way as to seem individual in nature and a an attractive websitewill attract candidates to the search firm, circumventing the requirement for the hundreds of telephone calls that used to be the mainstay of executive recruitment. The benefits of online executive job searches is evident on every level. Senior executives can expect to open the field to many more opportunities, both in other fields and in other countries, just as executive search firms can increase the candidates they reach.
No question, online executive job search is here to stay and, if progress in the rest of the internet world is any indication, may eventually be the only kind of executive job search.
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