Executive hiring is bouncing back. After a brief slowdown immediately following the first US coronavirus lockdowns, companies are ramping up hiring again. That’s great news.
That’s not just my view. Earlier this week, the New York Times featured an article on the recovery in executive hiring, noting a “reawakening in hiring for executive positions.“ (You can find the article here, but access may be limited by the NYT paywall).
To be sure, the snap back in executive hiring is not universal. Industries that have been most affected by the coronavirus crisis (travel, hospitality, and so on) remain dead in the water. However, many others are doing just fine and hiring at a solid pace.
In the medical device industry there is strong progress, although it’s uneven. Companies that make products for any type of critical care are doing fine and hiring executives at a solid pace, while those that depend on elective and non-emergency procedures remain extremely cautious.
Of course, the economic environment remains uncertain, and everyone, even companies that are doing well, is approaching spending (including hiring) with a heightened sense of caution. No one knows how the coronavirus story will unfold or when it will end. Nevertheless, the recent recovery in executive hiring is an encouraging sign that we are headed in the right direction.