The survey, which covered nearly 1,000 senior executives across 85 countries, says about 82% of the respondents said it could take a professional up to six months to find a new job, while 15% said the process could take seven months to one year. Another 4% said it could take over a year.
Amid reports of layoffs across sectors, it’s not surprising that one in every two employees globally is spending most of his time searching for a new job. The figure was lower for India, with one in every four employees seeking new opportunities.
“In spite of the recent economic developments and the collapse of the financial sector globally, the Indian economy has shown great signs of resilience in many sectors with encouraging growth rates. But unemployment rates in India are on the rise,” Korn/Ferry International MD (India) Deepak Gupta said.
The survey found that most unemployed executives were in their initial stages of job hunting in the current market conditions, having been unemployed for the past one to three months.
The firm suggested that both candidates and companies remain patient during the search process, as hiring becomes a lengthier process.
Executives around the world are exploring the option of going back to studies and honing their skills. Most jobless executives said they are looking at opting for additional educational qualifications, such as MBAs, or other advanced degrees. Interestingly, 15% of the unemployed executives said that they have either considered or are already going back to school to ‘wait out’ the downturn, the head-hunting firm said.
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