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Executive Age and Time to Fill Trends
The average age of directors at big U.S. businesses is
creeping up, according to a new study, in large part because
many current chief executives -- who historically have been
the most sought-after board candidates -- are no longer
serving on as many outside boards. Taking their place are
many retired CEOs, who are often in their 60s and 70s.
The average age of independent directors at companies in the
Standard & Poor's 500 index stands at 60.8, up from 60 in
1998, according to the 20th annual "Board Index" released
yesterday by executive search firm, Spencer Stuart. November
12, 2005
ExecutiveTalent.net, an online career resource for senior
executives, reports that senior executives in their 50s make
less money and spend more time looking for jobs than
counterparts in their 40s. In a recent poll of 571 USA-based
senior executives across all industries, it was learned that
senior executives in their 50s earn an average of $144,997,
compared to $171,184 for their counterparts in their 40s. In
addition to lower salaries, senior executives in their 50s
also averaged over eight months (240 days) of active
searching before finding a new job, compared to about four
months (125 days) of active searching for their counterparts
in their 40s. The poll also showed that executives in their
30s not only earned slightly less than their counterparts in
their 50s but they spent about one-third the time (80 days)
actively looking for new opportunities.
Interbiznet Bugler, November 7, 2005
Slow recruitment is costing UK companies both time and money
as a new survey finds that it typically takes more than four
months to fill an executive vacancy. Research by recruiter
Executives Online has found that while four months is the
normal time taken to fill senior posts, the process takes at
least six months in a quarter of organisations. The study
involved interviews with 102 HR managers and line managers
who are actively involved in the recruitment of senior
personnel and who work for UK organisations across a range
of industries and with turnover in excess of 25 million.
With the average company needing to hire six senior
executives each year, the study suggest that around two full
years (6 x 4 months) of senior executive time is lost to
each company because of the time taken to fill vacant posts.
M2 Presswire, October 25, 2005
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