Lead5 tracks executive openings and executive appointments for leading US based companies. Analysis for Lead5 for the second half of 2021 data shows executive appointments slightly up 3% year over year. For Q1 of 2022 executive appointments were down 20% along with executive opportunities also down YoY. Interestingly, the January 2022 executive appointments were up slightly YoY with February starting to trend down and March 2022 executive appointments down 40%. This corresponds with the timing of headline and market data from the war in Ukraine and inflation numbers. We will continue to monitor the Lead5 data set and the effect on executive hiring into Q2 and the summer months.
Now is a great time to research and prepare a pro-active strategy for your next executive career move. Join Lead5 today to stay connected to ever-changing market intel from the Lead5 community. Familiarize yourself with the Indicators of Management Changes, Negotiating Executive Compensation, How to Best Approach Executive Recruiters, How to Best Approach In-House Corporate Recruiters, and Sample Email Templates to Send Direct to Hiring Managers.
We created Lead5 to empower executives with traditionally hidden opportunities and career advancing intel. Today we’re excited to announce the next generation of Lead5, with a new and improved user experience and more complete functionality than ever before to help executives manage the lifecycle of their executive journey.
The next generation Lead5 platform provides:
- Access to verified and potential leads for thousands of executive jobs.
- Tracking of PE firms and PE deals that often indicate leadership changes.
- Search project functionality to build target company lists, access the Lead5 recruiter database, follow executive moves, and build/save customized queries.
- Easier to navigate saved items feature that replaces the legacy Lead5 playbook.
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You can access all these features and more by logging into Lead5 for the new and improved user experience. If you have any questions or feedback we’d love to hear from you, email us at email@example.com or take advantage of Lead5’s complementary career consultations where we can demo the next generation of Lead5!
In my 20 plus years of executive search experience, I have worked on hundreds of C-level assignments and navigated countless compensation negotiations through the “offer stage”. Here are 5 tips for executive candidates to keep in mind when closing the deal:
- Think like an owner. Value long-term awards and creating value over time as the key drivers for your compensation. Forgoing cash for more equity sends a strong message of leadership and “buy-in” to the board and/or C-suite. This indicates you are committed to the future success of the company and have confidence in the value creation you can drive. If the opportunity is available and you are in a position to do so, ask to purchase stock on your own beyond the equity grant or put your own money in the PE or VC round of financing.
- If you negotiate, go one turn and then accept the counter offer. There is nothing wrong with accepting the initial offer if you believe it is strong and it meets your expectations. Yes, you may be able to negotiate marginal percentage points higher in base, bonus, equity, or sign-on, but do not underestimate the momentum of a positive, team oriented start. In my experience, one round of tweaks or negotiations is common, but if you push beyond that, it is generally poor form.
- Communicate your compensation expectations to the company and/or recruiter prior to receiving the formal offer. Many candidates think they are weakening their bargaining power by sharing expectations. They think keeping things “close to the vest” until the actual negotiations will provide the best outcome, but this can work against them. If the company is not clear on the expected compensation range, they may low-ball the candidate at offer stage (often a red flag for a dysfunctional company culture). Ultimately, the deal needs to be compelling for both the candidate and the company. Lack of communication of expectations prior to the formal offer stage can undermine the deal and be perceived as unprofessional.
- Share your current and past compensation with the recruiter and company if they ask. Note, it is now illegal in a number of states to ask a candidate’s compensation. In the states where it is legal, withholding this information is regarded as a lack of understanding of how executive deals are structured. As executive recruiters, we are not asking your previous compensation history to lessen your negotiating power. We are asking these questions to ensure the best fit for both you and the company in an effort not waste either party’s time. For example, if your base salary is $400,000, you will ultimately not take a job offering a $275,000 base. There are exceptions, but in my 500+ executive searches over two decades, candidates are rarely willing to take pay-cuts in cash compensation. A candidate squeezing into a role with less than ideal compensation, usually means the role is not the right fit and the candidate leaves the company within 24 months. The exceptions tend to be candidates who forgo cash for more equity, aligning with point number 1.
- Focus your identity as an executive on the value you create, not being the highest paid in your industry. Value creators are discovered and rewarded over time – keep this in mind in negotiations. You want to exceed the expectations of the CEO and board and create value and wealth for everyone in the organization. The experience of doing this is far more valuable, fulfilling, repeatable, and lasting than a certain base salary or sign-on bonus.
Interested in more career advice? Sign-up for Lead5 and take advantage of the free career consultation plus gain more insight, intel and career tips from the Lead5 Community.
Lead5 Search Accelerator is an alternative recruiting service to the high price and long lead times of retained executive search and an ideal recruitment solution for direct report roles to the C-level such as Controller, Head of FP&A, VP Finance, General Counsel, Head of HR, Head of IT, plus divisional GM and operational roles.
With Search Accelerator, for less than the price of a contingency recruiter, you receive the Lead5 brand power, technology, and full research to market your position to all available talent – both passive and active – providing you with the best possible decision support to build out a high performing team.
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