Statistics Canada reports show that average employment growth from May to November 2014 was 21,300/mo v/s only 3,000/mo from December 2013 thru May 2014. South of the border, USA Government and ADP employment numbers show steady, healthy growth with activity fairly evenly split between large and small/medium businesses. The Chief Economist at Moody’s Analytics predicts that this fairly consistent rate of growth will soon prompt acceleration in wage growth as well.
Comparing November 2014 to November 2013, C Suite turnover last month increased on all fronts, breaking out as follows: overall C Suite increases came in at +5% with CFO’s having the most significant increase in activity coming in at +23%, CEO changes at +5% and an increase of Board of Director activity at +2%.
November 2014 versus October 2014 activity however showed a different picture with overall C suite changes down by 7%, CEO turnover coming in flat, Board of Director changes declining by 15% and only CFO turnover showing an increase in activity of 10%.
Executive turnover activities break down as follows:
Historically senior management and Board changes have tended to be low during poor economic times and accelerate as the market rebounds. The way things are currently tracking indicates that we should continue to see an up-tick in executive turnover activity in 2015, with the potential of new pressure on increased executive and senior management compensation.