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January 7, 2002

For Immediate Release:

But Few See More Hiring in Next 6 Months

DALLAS — A new survey of executives working for major corporations suggests a better business climate may be at hand. Conducted by The Broadmoor Group, a Dallas-based executive search consultancy, the survey indicates that 72% of executives expect business conditions within their companies to improve in the next six months. Only 5% expect conditions to decline, while 23% expect conditions to remain the same.

The survey shows less optimism about hiring, however. Only 19% of executives surveyed expect hiring of executives to increase in the next six months, while 73% indicated hiring levels would stay the same, and 8% said hiring levels would decline.

“Executives are generally upbeat, but hiring is in a holding pattern until they actually see conditions improving,” notes Randy Neal, senior partner with The Broadmoor Group. “In the meantime, they are trying to maintain current headcount and they may make strategic executive hires when necessary.”

Optimism regarding business conditions varies by industry, the survey suggests. Ninety percent of financial services executives surveyed expect business conditions to improve in the next six months, followed by 71% of professional services executives, 69% of software/IT executives, 68% of telecommunications executives, and 63% of manufacturing executives.

Financial service executives also expressed the most optimism regarding increased executive hiring within their companies. Thirty-one percent of financial services executives indicated executive hiring within their firms would increase in the next six months, followed by 28% of software/IT executives, 19% of manufacturing executives, 16% of telecommunications executives, and 14% of professional services executives.

The survey was sent by email in January, 2002 to 450 executives working with some of the 1,000 largest companies in the nation. Over 145 responses were received. For more information about the survey, email

Randy Neal is a senior partner of The Broadmoor Group L.L.C., a retained executive search consultancy dedicated to the recruitment of key executive talent for successful business organizations around the world.