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Give Your Headhunter a Hug

Executive search firms are under the gun to find a few good men and women. Plus: Intrusion Inc. alerts market that it has a new CFO; and Network Ap...
Lisa YoonAugust 14, 2002

According to a recent survey, recruiters are facing greater challenges in filling posts. Increased expectations from hiring companies means a longer executive search process, says a survey of 195 recruiters conducted by ExecuNet.com, an online career services center for executives and recruiters.

The survey found that 53 percent of recruiters say the time needed to complete a search has increased from a year ago. While just 21 percent say it is more difficult to find qualified candidates in this market, 87 percent report their clients are taking more time to evaluate candidates than one year ago, and 59 percent say client requirements have become more unrealistic over the past 12 months.

Not surprising, considering the number of Sullivans, Fastows and other finance chiefs under SEC and FBI investigation that have emerged ignominiously in the past year. Executives in turn are preferring to stay put, according to the 59 percent of recruiters that report it’s been a tough sell getting employed executives to change jobs in 2002.

How Startup CFO Grew Food Company 50% YoY

How Startup CFO Grew Food Company 50% YoY

This case study of JonnyPops’ success highlights the unusual financial and operational strategies that enabled rapid expansion into a crowded and highly competitive frozen treat market. 

Still, most recruiters are optimistic that the situation will redeem itself over the second half of the year. Three percent say it improved significantly in the second quarter; 21 percent expect a turnaround in the third quarter, and 28 percent predict a recovery in the fourth quarter of this year. But—and you knew there was a “but” coming—a good number are less sanguine: 35 percent of recruiters don’t think things will get much better until at least early next year, while 13 percent think the turnaround will be delayed until the second quarter of 2003.

>> Michael Paxton returns to his old stomping ground as treasurer, secretary, and CFO of network-security company Intrusion Inc. … Paxton will replace Jay Widdig who resigned to pursue other opportunities … Paxton worked at Intrusion in 1986 as controller … Moved up to VP and chief accounting officer by 1998 …

>> Jeff Allen was named as SVP of finance and CFO of network-storage systems developer Network Appliance Inc … Allen joins from Gemplus International SA, where he was CFO.