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Boston - Executives and managers in the greater Boston area are finding new employment almost 40 percent faster than this time a year ago - reflecting both an improving local economy and different job-search strategies, according to ClearRock, outplacement and executive coaching firm headquartered in Boston.
The average time for Boston-area executives and managers to find new employment in the first three months of 2011 is 16 weeks - or 36 percent faster than the average time of 25 weeks it took to find new work in the first three months of last year, according to ClearRock.
Industries in which the professionals have found jobs this year include banking/financial services, insurance, health care, biopharma, high-tech, and higher education, among others.
Included in the survey were about 100 Boston-area executives and managers who had been laid off and found new employment with the help of outplacement career counseling assistance from ClearRock consultants within the past year.
Among the reasons why they are finding jobs faster this year are, according to ClearRock:
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A better local economy and job market. Massachusetts' unemployment rate was 8.3 percent in January 2011 - down from 8.8 percent in January 2010. In addition to the lower state unemployment rate, the national unemployment rate was 8.9 percent in February, down from 9.7 percent in February 2010. |
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Being open to a broader range of job opportunities. "With hiring still slow and it taking longer for employers to add workers, people are more receptive to a wider variety of possibilities. They are taking jobs that may have been less than the ideal positions they originally had in mind, but realized that they should not pass up an opportunity and wanted to get back to work," said Ali Chambers, vice president with ClearRock. |
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Greater willingness to accept contract positions. "Some employers are able to hire contract employees now as their businesses recover, rather than full-time workers. They are hiring employees on a contract basis and may add them as full-time workers in the future if they can. As the slow job market has dragged on, people are more ready to get on board first and show their new employers what they can do," said Chambers. |
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Expanded usage of social media. "More people are finding jobs through making connections on social media websites such as LinkedIn. Employers are also more often directly contacting people for jobs and contract work after searching their LinkedIn profiles," said Chambers. |
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Improving industries. The financial services, biopharma, and high-tech industries in the area have improved during the past year. |
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