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FOR IMMEDIATE RELEASE
Contact:
Jay Roberts
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jay@m1pr.com
SURVEY FINDS EXECUTIVE SEARCH CONSULTANTS HAVE NEW COMPETITION FOR TALENT: WORK-LIFE BALANCE
85% Have Had Candidates Reject Executive Job Offer Due to Work-Life Balance, According to Survey by Association of Executive Search Consultants
NEW YORK, February 1, 2007 - Executive search consultants now have a new competitor for top talent: work-life balance. According to a survey of 138 executive recruiters, 85 percent have had candidates reject an executive job offer in deference to work-life balance. The survey, conducted from January 11-29, 2007, by the Association of Executive Search Consultants (AESC), also revealed companies are increasingly creating individualized plans to meet the work-life balance needs of top candidates.
Executive search consultants are advising companies to rethink their recruitment plans. Two-thirds of the surveyed executive search consultants say they work with client companies that will create programs - but on a case-by-case basis - to meet the work-life balance demands of top job candidates. Only eight percent have client companies with formalized programs; 26 percent say their client companies refuse to meet the work-life demands of top candidates. Telecommuting, flexible work schedules and limited travel are the most common options to helping achieve a better work-life balance.
The survey also revealed that 86 percent of executive search consultants say that candidates rate work-life balance either as important as or more important than potential higher earnings.
"Executive search consultants now have new competition for top talent - work-life balance. Even five years ago, work-life balance was not an issue that top talent would actively talk about during job negotiations. Executive search consultants now say that candidates will bring up work-life balance very early on in the talks about a potential job. In a candidate's market, it's something that search consultants and their client companies just can no longer ignore," said AESC President Peter Felix.
Full results of the Candidates & Work-Life Balance survey revealed:
1. As compared with 5 years ago, are you finding that work-life balance considerations are becoming more critical in a candidate's decision whether to accept a new position?
- Yes - 91% (125)
- No - 9% (13)
2. Have you been in a situation where a candidate refused a position because it negatively affected his/her work-life balance?
- Yes - 85% (117)
- No - 15% (21)
3. In general, how do candidates currently rate their work-life balance against their potential earnings?
- Work-life balance is more important than increased earnings - 26% (35)
- Work-life balance is less important than increased earnings - 14% (19)
- They would rate them about the same - 61% (83)
4. Are clients being flexible with candidates' work-life balance demands?
- Yes, on a case-by-case basis - 66% (91)
- Yes, with formal programs - 8% (11)
- No - 26% (36)
5. Clients are increasingly offering concessions to executives to attract top talent and encourage a better work-life balance. Please rate the following concessions in terms of value to candidates. (1=not valuable; 3=extremely valuable)
| 1 Not Valuable | 2 Somewhat Valuable | 3 Extremely Valuable | |
| Telecommuting/Home Office | 10% (14) | 51% (69) | 39% (52) |
| Flexible Work Schedule | 4% (6) | 39% (53) | 56% (76) |
| Limited Travel | 12% (16) | 57% (77) | 31% (41) |
| Sabbaticals | 41% (53) | 46% (59) | 13% (17) |
6. Please list other concessions not mentioned above which you are finding that clients are offering to executives to encourage a better work-life balance.
List of responses available upon request.
7. Please indicate the region of the world in which you live:
- EMEA (Europe, Middle East, Africa) - 41% (56)
- Asia Pacific - 25% (34)
- North America - 28% (39)
- Central/South America - 6% (9)
About The Association of Executive Search Consultants
The Association of Executive Search Consultants is the worldwide professional association for the retained executive search industry. The AESC's mission is to promote the highest professional standards in retained executive search consulting, broaden public understanding of the executive search process, and serve as an advocate for the interests of its member firms. For more information, or to download the AESC Code of Ethics and Professional Practice Guidelines, go to www.aesc.org.