MRI Network Releases 6 Months of 2020 Job Placement Data
Also released are findings from 15-year study on diversity hiring
MRI Network, the nation’s 3rd ranked executive recruitment and professional job placement firm, released a Special Data Report tracking job placements across major industries from March to August on Friday, as reported by the company’s 325 offices nationwide. Much like the overall economy, MRI Network reported a sharp drop in candidate placements and resulting client billing at the onset of the COVID-19 virus shut-down in March 2020, however, by August the decline had been cut in half.
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“Our Network of over 325 executive recruitment offices continues to see the impact of the job growth reflected in Friday’s report from the Bureau of Labor Statistics,” said Bert Miller, president and CEO of MRI Network. “Technical, managerial, and executive talent is in peak demand across a range of industries including construction, financial services, and healthcare. We’ve also seen recent lift in legal and security tech opportunities. Across sectors, organizations are looking for leaders capable of thriving in, and in many cases driving, a culture adaptable to the present changing business and political environment.”
Other key findings from the report:
- Placements (versus the prior year) declined -12% in March and -45% in April as clients postponed hiring decisions or cancelled search assignments.
- Billing for services also followed the same pattern down -12% in March and -41% in April.
- The rate of Y/Y placement and billing decline eased somewhat in subsequent months as clients cautiously loosed hiring restrictions.
- On a sequential basis, placements bottomed out in April as placements declined 36% versus February. Placements have increased sequentially thorough July with some flattening seen in August.
- Industry placement and job level placed revealed a relatively steady pre- and post-COVID-19 pattern across the 8 business segments tracked: construction, consumer products & services, financial, healthcare, manufacturing and distribution, natural resources, professional services and technical.
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“Today’s resilient leaders must strive to navigate uncertainty, promote flexibility and shift organizational priorities in order to build a solid foundation for the new world of work. This is a good time to recall the words of naturalist Charles Darwin that ‘it is not the strongest of the species that will survive, nor the most intelligent that survives. It is the one that is most adaptable to change,'” said Miller.
Separately, MRI Network also released data from one of its top three offices on the diversity of its hiring practices nationwide over a 15-year period of ending in 2019. The research showed that in the 20 separate job categories tracked, the majority of those hired were diverse job candidates. These included middle management to executive level employees in R&D (77%); legal (75%); software development (67%); and accounting (63%).
NOTE TO PRESS: The complete findings of MRI Network‘s Special Data Report and Diversity Report are available upon request.
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