Their companies, meanwhile, haven’t always kept up succession planning at higher levels, occasionally leaving key positions unfilled for a time. The shortage is having a favorable effect on people looking for work: It’s taking less time for them to get hired. For key executives, 45 percent got hired within six months, a recent Right survey found. That’s an improvement of about two months, Matthews says. In the lower ranks, too, hiring conditions are good. Nearly three-quarters of the lower- to mid-level managers surveyed got hired within three months, shaving several weeks off the time-to-hire stats from 2002 and 2003.
Matthews says the hiring environment should remain brisk through at least the first part of the summer. Moreover, hiring for management positions has some insulation against an economic slowdown, should one materialize, because companies have been slow to implement succession plans.