Amid the US government efforts to create more job opportunities, recruitment activities for top management levels may now pick up after more than a year of sluggish hiring pace, says a report.
According to Liberum Research's extensive tracking of executive turnover, the continuing slow pace of executive turnover that has continued for more than a year and a half appears to have finally bottomed out.
"With the mid-term elections behind us, one can only expect an even greater emphasis on job creation throughout the United States economy whether it be Democrats or Republicans," the report said, adding that "If overall job growth can be increased, one can also anticipate an increase in top level executive turnover."
Besides, once the economy began to show consistent signs of recovery, the level of executive turnover would begin to rise, the report added.
According to Liberum's Management Change Database, a total of 128 CEO related changes occurred during October 2010. An industry-wise analysis shows that banking saw 24 such changes, followed by drugs/biotech space.
For October, the total C-level management changes amounted to 840, wherein the banking sector witnessed the maximum changes at 83, followed by the drugs/biotech space (81) and energy segment (60).
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In percentage terms, the overall C-level changes (board of directors, CEOs, CFOs and corporate VPs) in October declined by 38 per cent and board of director changes dipped a whopping 45 per cent from last year's levels. Similarly, changes at CFO level declined by 28 per cent followed by CEO level at 13 per cent.
However, on month-on-month basis, executive changes showed an upward trend, wherein CEO changes increased 33 per cent, CFO changes declined a mere 1 per cent, overall C-level changes increased 11 per cent and board of director changes remained static.