2019 BlueSteps Executive Career Outlook - Exclusive insights on global executive-level career trends.
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2019 BlueSteps Executive Career Outlook Exclusive insights on global executive-level career trends.
2019 BlueSteps Executive Career Outlook
Exclusive insights on global executive-level career trends
Overall, optimism levels for executives about the market than the prior year’s market, twenty-three
executive job market dropped considerably after a percent less than last year.
strong year in 2018. While this year’s optimism level is significantly
Based on a global survey of 1436 senior-level lower than survey respondents’ optimism level in
management professionals, surveyed throughout 2018 for the senior-management level job market,
November and December 2018 by BlueSteps, the it is in line with the optimism levels of executives in
career management service of the Association of 2016 and 2017. This indicates that while the decrease
Executive Search and Leadership Consultants (AESC), in optimism does reflect an overall concern in the
forty-two percent of leaders across the globe are marketplace, the change may be more of a reflection
more optimistic about this year’s executive job of how strong last year’s market was instead.
Global Executive Job Outlook Forecast
Chart 1: Outlook of leaders globally about the senior-management level job market for 2019.
2 - 2019 BlueSteps Executive Career Outlook Report
“Despite trepidation and
some uncertainty, the
economy overall is still very
strong, and the job market
is quite robust. It is still very
much a candidate’s market.”
“Digital Transformation is
bringing new responsibilities,
job roles and skill sets that
have either been largely
missing or current roles are
Despite unstable hard economic conditions in leaders. The next most common reason given is inadequate for.”
several countries across the globe, the economy technology, with fourteen percent of respondents
is still the top reason for why leaders are more feeling that the adoption of new technologies will
optimistic about this year’s job market. require new leaders who can leverage new tools “Economic crisis brings more
Of the thirty-three percent of leaders who cite to grow the business. The other top reasons given and better opportunities to
the economy as their reason for optimism, many for increased optimism were the political climate, grow.”
specifically cite a strong economy or business business climate, and changes in the job market.
environment in their region. Others believe that These three reasons are all causing shifts in the “Because we have a new
even though their economy may be weak, the way that businesses operate and a need for new government with great
challenges will create a need for experienced leadership that can navigate that change. expectations of economic
and social development.”
Reasons for More Job Market Optimism
“Times of change, such
as Industry 4.0 currently,
require more highly
competent managers in the
right positions.“
“More movement,
more confidence of the
professionals to move to
new projects that will cause
more activity in the market.”
“Mainly, 2019 could be
a year with more job
opportunities, because lot
of industries are looking in
Chart 2: Global executives share why they are feeling more optimistic about the executive job Latin America at new ways
market. to develop business.”
2019 BlueSteps Executive Career Outlook Report - 3
“Slowdown in the growth
of both developed and
emerging markets.”
“The economy next year
is foreseen as being
not quite as good, and
consequently some
firms may wind down or
merge.”
“In my region there has The reason that executive-level leaders are the political climate or fiscal policy. The two
been huge uncertainty due less optimistic is much more definitive. most common political and fiscal issues cited
to Brexit and investments Over forty-five percent of respondents were the trade war between the US and China
have been delayed.” who believe the job market will be poorer in and Brexit. The business climate and a lack of
“There are signals of 2019 believe it is because of the economy, executive roles on the market rounded out
recession in EU and the either at the macro or micro level. Another the top five answers for why leaders are less
crisis in relations between combined thirty-one percent of respondents optimistic at ten percent and seven percent
US and China makes the attribute their lack of optimism due to either respectively.
financial markets volatile.”
Reasons for Less Job Market Optimism
“Companies are struggling
to generate organic
growth due to several
macro forces and they
will need to take drastic
measures to drive
profitability.”
“Due to cost cutting,
companies are looking to
reduce their headcount
and they are pushing their
team to do more than
less.”
“Impact of new
technology and new
competition will
significantly decrease size
of the traditional financial Chart 3: Global executives share why they are feeling less optimistic about the executive job
industry.” market.
4 - 2019 BlueSteps Executive Career Outlook Report
Not only have executives become less feel that the number of executive-level
optimistic about the job market, there are also opportunities will increase in 2019. This is a
fewer executives globally who believe there sixteen percent decrease in the number of
will be an increase in executive roles in 2019 leaders who responded they expected the
according to BlueSteps survey results. number of roles to grow last year.
Only thirty-seven percent of respondents
Global Executive Job Volume Forecast
Chart 4: Senior management-level leaders share how they expect the number of senior management-
level executives to change in 2019.
2019 BlueSteps Executive Career Outlook Report - 5
1. ECONOMIC OUTLOOK OF EXECUTIVES
BlueSteps also surveyed executives on the economy ahead. Less than thirty percent of respondents are
and their outlook on it for 2019. With all of the changes more optimistic about the 2019 global economy when
in the economy, due to a tense political climate, shifts in comparing it to the 2018 economy’s performance. Over
the business landscape and early economic indicators, forty-eight percent of respondents are less optimistic
respondents are generally unoptimistic for the year about this year’s economy.
Global
Economy
Forecast
Chart 5: Respondents’ outlook on the global economy for 2019 compared to last year’s global economy.
Leaders in the US & Canada and Europe are the of the countries in those regions, but regional and
most concerned about the global economy, with well global turmoil between their countries and others
over half of respondents in both markets saying they that may be leading them to more pessimistic
are less optimistic about this year’s global economy views about the economy overall. Those that are
than 2018’s global economy. These regions are both more optimistic are in regions with more emerging
experiencing not only political turmoil within many markets.
Global
Economy
Forecast, by
Region
Chart 6: Respondents’ outlook on the global economy compaed to last year’s, by region.
6 - 2019 BlueSteps Executive Career Outlook Report
When asked how they would rate their optimism amount of respondents falling in the seventy-one to
on a scale of one to 100, with one being the lowest eighty range. This highlights that while their feelings
and 100 being the highest, the average rating of their overall are negative about the future of the economy
optimism level was fifty-nine. Most survey respondents for 2019, when asked to quantify their outlook, business
fell into the range of forty-one to eighty and the greatest leaders may be more hopeful than they initially stated.
Rating of
Optimism
About the
Global
Economy
Chart 7: The ranking senior management-level respondents gave the global economy when asked to rank it
on a scale on one to 100, with one being the lowest and 100 being the highest.
There is also a disparity in the optimism levels job market than the economy. This indicates, that while Comparison
leaders have for the economy versus the job market. they believe the economy may be less robust in 2019,
When compared, forty-three percent more executive- leaders still expect the job market to remain at healthy of Optimism
level leaders worldwide are more optimistic about the levels like in 2018. Additionally some respondents About
executive job market than they are about the economy. noted uncertainty in the business landscape and
Economy and
There is also a significant decrease in the number of economy may cause a need for strong leaders who can
executives who are less optimistic about the executive help lead organizations through change. Job Market
Chart 8: A comparison of the outlook leaders globally have for the global economy versus the global senior
management-level job market.
2019 BlueSteps Executive Career Outlook Report - 7
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2. TECHNOLOGY AND INNOVATION IN THE WORKPLACE
This year’s BlueSteps Career Outlook survey However, leaders are not as confident about their
had a focus on technology and innovation in industries or their organizations. Survey respondents
the workplace. Executive-level professionals globally felt that their organizations and industries are
globally were asked to rank where they and their not in line with their competition. Forty-six percent
industry, function and organization were in their of senior-level management professionals surveyed
digital journeys. Executives are confident in their believe their organizations are moderately or very
own digital knowledge. Almost fifty percent of behind the marketplace, and only twenty-seven
respondents feel they are moderately or very ahead percent believe their organizations are moderately
of the market and only two percent feel they are or very ahead. Similar numbers were reported for
very behind. their outlook on their industries compared to others.
Innovation in the Business Landscape
Chart 9: Global executives rate where they and their industry, function, and organization are in their digital
transformation relative to the marketplace.
8 - 2019 BlueSteps Executive Career Outlook Report
“Encourage innovation
through continuous
learning, including
learning by doing.”
Our global senior management leaders were commonly recommended that leaders start “Ensure innovation by
asked to give advice on how to create a culture experimenting with new ideas, even if that hiring of the proper
of innovation. The most common advice was means failing occasionally, and that leaders staff with an orientation
to create an environment where you and your listen and be open to ideas from employees. toward innovation and
employees are always learning and growing, with The top responses from CEOs we surveyed entrepreneurship. Then
thirteen percent of respondents recommending across the globe were to encourage employees provide the time, structure
this strategy. The next most common answers to action their ideas and to hire a strong team and cultural interactions
were to empower employees and to create that believes in innovation, neither of which to promulgate the
a forward thinking culture. Respondents also made the top five for leaders overall. concepts.”
“By empowering team
Advice on Developing an Innovative Culture members to think beyond
what has been done
before, and enabling their
decisions to lead projects.”
“You can never stop and
have to constantly rethink,
change and innovate for
your organization to be
one step ahead.”
“Encourage risk taking
and allow for small
failures in order to get the
big innovation successes.”
“Encourage the team
to be as inventive and
imaginative as possible
Chart 10: Global senior management-level professionals share their advice on how to create a to produce the results we
culture of innovation. need.”
2019 BlueSteps Executive Career Outlook Report - 93. INNOVATION & THE JOB SEARCH
Innovation’s Impact on the Job Search
Innovation not only matters to the a corporate culture which focuses on
leaders globally looking to excel in their innovation strongly impacts their interest
current roles, but also as an aspect of their in a role during the job search and only
job search. Of those we surveyed, over three percent of respondent said it does
sixty percent of respondents said having not have an impact on their decision.
Chart 11: Respondents’ thoughts on how an organization’s commitment to
innovation impact their interest in a role.
10 - 2019 BlueSteps Executive Career Outlook ReportInnovation’s Impact on the Job Search, by Age
As senior-management level executives age, age bracket with only forty-eight saying it strongly
they generally place more importance on an impacts their decision. Those who say that a
organization’s commitment to innovation. The age commitment to innovation does not impact their
brackets with the highest response rate for “An decision or slightly impacts their decision generally
organization’s commitment to innovation strongly decreases with age as well. Twenty-four percent
impacts my decision,” were the forty-five to fifty- of those thirty-four or younger say an innovative
four and fifty-five to sixty-four ranges, at sixty-two culture only slightly or does not impact their
percent. The lowest was the thirty-four or younger decision.
Chart 12: Respondents’ thoughts on how an organization’s commitment to innovation impact their interest in
a role, by age.
2019 BlueSteps Executive Career Outlook Report - 11Conversely, as people move up in their career, percent of respondents in the segment at that
they are less likely to have an organization’s level say it moderately impacts their decision.
commitment to innovation impact their decision in CEOs and Presidents report the lowest level of
the job search. Sixty-four percent of respondents at impact on their job search decision, with only fifty-
the Vice President level say that an organization’s six percent of CEOs and Presidents citing it strongly
commitment to an innovative culture strongly impact their career decision, fifteen percent fewer
impacts their career decision; another thirty-one than those at the Vice President level.
Innovation’s
Impact on the
Job Search,
by Level
Chart 13: Respondents thoughts on how an organization’s commitment to innovation impact their interest
in a role, by career level.
12 - 2019 BlueSteps Executive Career Outlook Report4. JOB SEARCH PROCESS
Sixty-four percent of senior management- executives surveyed for BlueSteps 2018
level executives surveyed seeking new roles Career Outlook Report, when only fifty
believe that their job search will take less percent of executives believed it would
than six months and only seven percent take less than six months, reflective of how
believe it will take more than one year. This strong the job market currently is for those
is much faster than what was expected by seeking new positions.
Expected
Length of a Job
Search, 2019
Survey
Chart 14: Global executives forecast how long it will take to secure a new executive job
in 2019.
Expected
Length of a Job
Search, 2018
Survey
Chart 15: Global executives forecast how long it will take to secure a new executive job in
2018.
2019 BlueSteps Executive Career Outlook Report - 13There is a variance between those who receive a reporting they had a formal onboarding process.
formal onboarding from their organization both by By career level, Board Directors are most likely
career-level and by location. Those in the Middle East to go through a formal onboarding process after
and Africa are most likely to go through one, with starting a board role, with fifty-nine percent of
fifty-eight percent of executive leaders surveyed in those responding that they were onboarded.
the region reporting they had a formal onboarding CEOs and Presidents are the least likely to be
process at the start of their most current role. Those onboarded, with only forty-three percent saying
least likely to have a formal onboarding are those they had a formal onboarding at the start of their
in the US and Canada, with only thirty-six percent last position.
Executives
Who Had an
Onboarding
Process, by
Region
Chart 16: Respondents on whether at the start of their most recent role, they had a formal onboarding
process, by region.
14 - 2019 BlueSteps Executive Career Outlook ReportExecutive
Who Had an
Onboarding
Processes, by
Title
Chart 17: Respondents on whether at the start of their most recent role, they had a formal onboarding
process, by career level.
Various elements are included in an onboarding including information on how the organization functions
process, depending upon a role’s level, industry, function is important, with fourteen percent recommending
and region. The senior management-level professionals an overview of internal processes and ten percent
we surveyed were asked what they thought was recommending an overview of the corporate culture. IT
important to include in an onboarding process. Twenty Training and an introductory meeting with other teams
percent of respondents would like information on the and offices were the fourth and fifth most common
company’s goals and vision. Respondents also thought answers.
What
Executives
Want in an
Onboarding
Experience
Chart 18: Senior management-level professionals share what they would like to be included in the
onboarding process.
2019 BlueSteps Executive Career Outlook Report - 155. OUTLOOK BY FUNCTION
Amount of Opportunities Leaders Expected in Their Function
When looking at their function specifically, thirty- at least a moderate amount of growth in the number of
four percent of senior-management level leaders opportunities.
surveyed said they expect significant or a lot of career Those that are the least expectant to see a large
opportunities within their function. amount of opportunities are those in the CFO role. Only
Only two percent said they expect no opportunities seven percent think there will be a significant amount
and fifteen percent expect only few opportunities. This of growth in the number of financial roles and twenty-
is a strong signal that while there are emerging concerns two percent believe there will be few opportunities
for the economy, that sentiment may not shift over to or none at all in 2019. This could indicate a slimming
the job market. in the number of financial roles due to technological
When narrowed down to functions in the C-Suite, adoptions.
those in the CHRO role are the most optimistic about CMOs and Board Directors expect the fewest
the number of roles in their function. Twenty-three opportunities for their respective functions in
percent of respondents believe that there will be a 2019. Twenty-three percent of all CMOs and Board
significant amount of growth in the Human Resources Directors surveyed expect there to be few or no career
space and over eighty-five percent believe there will be opportunities for their functions.
Amount of
Opportunities
Leaders
Expected in
Their Function,
by Function
Chart 19: Global executives on what amount of career growth they expect for their function in 2019, by
function.
16 - 2019 BlueSteps Executive Career Outlook ReportSimilar patterns are found for the overall percent decrease in the percentage of CMOs who
optimism level in the job market by function. are more optimistic year over year.
The CMO segment has the fewest number of Board Directors are the most optimistic about
respondents who are more optimistic about the executive-level job market. Sixty-three percent
the job market, with only twenty three percent of board leaders are more optimistic about the job
expecting a stronger executive-level job market market and only eleven percent of Board Directors
in 2019 compared to the previous year. The CMO are less optimistic about the job market in 2019.
segment also has the largest decrease in the This is significantly higher than the segment with
number of respondents who are more optimistic the second highest percentage of more optimistic
about the job market in 2019, with a fifty-four respondents, CHROs at forty-seven percent.
Global Executive Job Outlook Forecast, by Function
Chart 20: Outlook of leaders globally on the senior-management level job market for 2019, by
function.
2019 BlueSteps Executive Career Outlook Report - 176. GROWTH BY SECTOR
The Technology sector is expected to have the strongest Healthcare/Life Sciences at fifty-three percent. There was a tie
growth at the executive level in 2019 with seventy percent of for the third most common response, with both Professional
all survey respondents believing there will be robust growth Services and Consumer/Retail chosen by thirty-one percent
in the industry. This is a slight decrease from the percentage of of leaders surveyed believing it they will experience the most
executives who selected the Technology sector in 2018, but still growth. Professional Services and Consumer/Retail were the
well ahead of the next most common sector. The second most only two sectors to have an increase in the percentage of leaders
common sector selected to have the most growth in 2019 was who believe they will receive the most growth in 2019.
Industries Expected to Have the Strongest Growth
Chart 21: Global executives forecast top sectors for strongest growth in 2019; respondents were allowed to select up to three.
18 - 2019 BlueSteps Executive Career Outlook ReportTechnology leaders are the most optimistic of respondents saying they are more optimistic
about the 2019 job market overall, with fifty- about 2019 and thirty-one percent saying they
one percent of respondents saying they are are less optimistic. Professional Services also
more optimistic about the 2019 job market had the most significant drop in the percentage
compared to the 2018 job market. Those in the of those more optimistic year over year with a
Professional Services sector have the lowest forty-eight percent decrease from 2018’s survey
level of optimism with only thirty-two percent results.
Global Executive Job Outlook Forecast, by Sector
Chart 22: Outlook of leaders globally about the senior-management level job market for 2019, by
sector.
2019 BlueSteps Executive Career Outlook Report - 197. OUTLOOK BY COUNTRY
Leaders in Brazil are the most optimistic about the 2019 Only twenty percent of leaders are more optimistic about the
executive job market, with ninety-three percent of respondents 2019 job market and forty percent say they are less optimistic
stating that their outlook for 2019 is more optimistic compared about the 2019 executive job market.
to 2018. The most common reason for their optimism is political Many of the European regions have a low percentage of
shifts. Most respondents who are more optimistic are seeing shifts executives who are more optimistic about the 2019 job market.
in the political leaders at the local or national government levels In Europe, most of the lack of optimism is attributed to either
and believe these changes will create new growth opportunities the economy (forty-eight percent of respondents) or the political
for the economy and job market. climate (thirty percent of respondents). Twenty-four percent
Senior-management level professionals in the United Kingdom cited Brexit as their reason for a lack of optimism about the
are the least likely to be more optimistic about the year ahead. economy specifically.
Global Executive Job Outlook Forecast, by Region
Chart 23: Outlook of leaders globally
about the senior-management level job
market for 2019, by country or region.
20 - 2019 BlueSteps Executive Career Outlook ReportBrazilian senior-management level leaders are also the most to expect an increase in the number of roles; only fourteen per-
optimistic about the number of senior-management level roles cent expect an increase in the number of Director-level to C-Suite
for 2019. Seventy-two percent of Brazilian respondents expect roles in 2019 and fifty-seven percent expect a decrease.
there to be an increase in the number of roles in 2019. Leaders The Nordic region has the largest number of leaders who ex-
in India are also expecting growth in the job market, with fifty- pect a decrease in the number of roles, with almost sixty percent
seven percent of Indian senior-management level professionals expecting fewer roles for senior-management level professionals
expecting more roles. Those in Japan & Korea are the least likely in 2019.
Global Executive Job Volume Forecast, by Market
Chart 24: Senior management-level leaders share how they expect the number of senior
management-level jobs to change in 2019, by market.
2019 BlueSteps Executive Career Outlook Report - 21Looking at the economy for 2019, Japan and Korea are the only Markets with the highest and lowest levels of optimism for the
region with no respondents that feel more optimistic about this year’s economy generally are the same as those with the highest and
economy than 2018’s economy. Japan and Korea also have the largest lowest levels of optimism for the job market, with the exception of
contingency of respondents who are less optimistic for this year’s the Middle East. The Middle East had the third highest percentage
economy at seventy-one percent. India has the most leaders who are of leaders who are more optimistic about the economy, but the fifth
more optimistic at fifty-seven percent, followed by Brazilian leaders at lowest percentage of leaders who are more optimistic about the job
fifty-six percent. market.
Global Economy Forecast, by Region
Chart 25: Outlook of leaders globally about the senior-management level job market for 2019, by
market.
22 - 2019 BlueSteps Executive Career Outlook ReportRegions Expected to Have
the Strongest Growth
When global leaders overall were asked to
select which markets they expect to see the
most growth in 2019, the top answer was a tie
between India and Greater China at forty-three
percent. The next highest was the United States
at thirty-one percent. Southeast Asia and Africa
rounded out the top five responses at twenty-six
and twenty-four percent of responses respectively.
These align with UN estimates. According to the
UN’s World Economic Situation and Prospects
(WESP) 2019 report recently released, India is
expected to the have the highest growth in GDP
with an anticipated increase of 7.6 percent for
2019-2020. China is also expected to have a strong
Chart 26: Global executives predict which markets will have the most growth in
growth in their GDP by the WESP report with an
2019; respondents are allowed to select up to three markets.
expected 6.6 percent for 2019-2020.
Regions Expected to Have
the Strongest Growth, by Year
Out of the top eight markets that received
the most responses for expected economic
growth by our BlueSteps senior management-
level survey respondents, the United States
had the sharpest decrease in expected
growth. Thirty-seven percent less respondents
selected the United States as one of the
markets they are expecting the most growth
in. Alternatively, Africa and India had a large
increase in the number of leaders who expect
growth in the region. The percentage of senior
management-level respondents who expect
growth increased sixty-six percent for Africa
and thirty-five percent for India.
Chart 27: Global executives predict which country will have the most growth in
2019 compared to 2018; respondents are allowed to select up to three markets
both years.
2019 BlueSteps Executive Career Outlook Report - 23BlueSteps.com is a global career management service for senior executives.
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