Executives Get Hired--and Refired--Faster

Executives and managers are still getting axed in droves, but they’re also landing new jobs more quickly than ever, according to a new national survey by Challenger, Gray & Christmas.

The median job-search time for executives fell in the first quarter to 2.84 months, the lowest since the Chicago-based outplacement firm began tracking this trend in 1980. The pace of hiring has been quickening since early 1995, when it took managers 3.42 months to find work.

The data suggest companies are expecting better business by summer, says James E. Challenger. “Job seekers have reason to be optimistic,” he said.

But there’s a catch. Executives who get in more quickly also should be prepared for a quicker exit. Indeed, Challenger says, the continuing layoffs are helping to speed up the executive revolving door.

“The logic of downsizing creates a just-in-time hiring atmosphere that both employer and employee acknowledge,” he said. “There is less of an investment for the company when they hire to fill a job that is not forever.”

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Don Lee covers workplace issues for The Times. He can be reached at (714) 966-7407 and at don.lee@latimes.com