Boston - March 7, 2012 - Boston area executives and managers who have been laid off from their jobs are finding new employment 24% faster than a year ago, according to ClearRock (www.clearrock.com), an outplacement and executive coaching firm headquartered in Boston.
The executives and managers found employment in an average of 16.5 weeks in the past three months (November 2011-January 2012) -- or 24% faster than the average of 21.6 weeks it took them to find new employment in the same period a year ago.
Industries in which they are finding the most jobs are biotech, pharmaceutical, higher education, financial services, and advertising, according to ClearRock.
Networking is the top way in which the executives and managers are finding new employment. Seven out of 10 laid-off executives and managers found new jobs through networking. Other ways they are finding employment are through executive search firms, Internet job board postings and applying directly to employers.
Included in the survey are 487 Boston-area executives and managers who were laid off and received outplacement career counseling assistance from ClearRock.
Among the reasons why they are finding jobs faster are, according to ClearRock:
- A better job market. Contributing to the shorter job-search times has been the drop in Massachusetts' unemployment rate to 6.8 percent from 8.3 percent a year ago. The state's unemployment rate is 18 percent below the national unemployment rate of 8.3 percent.
- Increasing use of social media in job searches. "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 Annie Stevens, managing partner for ClearRock.
- Being more receptive to contract work. "Companies are more often hiring employees on a contract basis, and people are more willing to get on board first and show their new employers what they can do," said Stevens.
- Greater flexibility. "People are being more flexible about job possibilities. They are taking jobs that may be less than the positions they were expecting," said Stevens.
ClearRock is a Boston-based executive coaching and outplacement firm that is recognized for genuinely caring about the people we work with. We customize our approach to each individual and our track record speaks for itself - repeat business, long-lasting client relationships, rapid re-employment for our outplacement clients, and numerous advancements for our coaching clients. Our goal is to become long-term advisors to our clients and their employees, while providing the highest quality career consulting and executive coaching services in the industry.