The latest Statistics Canada report indicates that employment increased in 2014 by almost 200,000 with the highest level of growth activity coming in the second half of the year. South of the border, USA Government and ADP employment numbers exceeded predictions for December 2014 with close to a quarter of a million people added to payrolls. Services companies made almost 4/5ths of these hires and well over half of these in turn were made by SME’s. This pattern was similar to that in Canada.
Comparing December 2014 to December 2013, C Suite turnover last month increased by a mere 1% with some areas showing small increases while others saw small decreases. The breakdown is as follows: overall C Suite increases came in at +1% with CFO turnover coming in at +2%. CEO’s showed virtually no change over the same month last year and Board of Director changes were down 4% year over year in December.
December 2014 versus November 2014 activity was slightly more positive with overall C suite changes being up by 10%, CEO turnover increasing by 7%, Board of Director changes increasing by a strong 35% and only CFO turnover showing a decline in turnover of 12%.
Executive turnover activities break down as follows:
Although we haven’t seen any Canadian forecast come out yet, the US Bureau of Labour statistics predicts an 11% increase in the number of C-Suite jobs over the next 5+ years. This increase will come from both new organizations and expansion of existing ones. This will drive added competition in attracting top executive talent. Roles where we expect to see increased executive hiring activity during 2015 include CIO, CISO, CMO, CHRO and COO in addition to continued momentum in CEO and CFO changes.