Executives Optimistic About 2002 Employment

Compiled by Tonya Vinas A recent survey of executives found both optimism and pessimism in attitudes toward the 2002 job market. According to ExecuNet.com, an online career services center for executives, 68% of surveyed users anticipate that the employment market will improve this year; 21% believe it will remain unchanged; and 11% say it will worsen. Respondents were also optimistic about the general economy, with 95% saying the economy will emerge from recession. Despite this upbeat outlook, 70% of employed executives are concerned about their job security. Of those concerned, 29% attribute it to events related to the U.S. economy, such as company mergers, downsizing or restructuring; 19% say company prospects are not good; 17% say industry prospects are not good; and 20% have doubts about their company's management teams or for their own opportunities for advancement. "It's no surprise that job insecurity among executives is high as some companies continue to slash payroll," says David Opton, CEO of ExecuNet.com. "Having learned that no job or company is immune to the economy, a growing number of executives now understand that proactive career management should be an ongoing activity."

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