Executive employment still has a slight wind in its sails this year

The year 2023 ended with a bang for executive employment in the private sector, with a record number of recruitments.

The trend for executive employment should remain positive in 2024, even if it risks being significantly less dynamic than in 2023.

franceinfo: How can we explain this relative decline after the record number of recruitments in 2023?

Sarah Lemoine: Since last fall, the slowdown in the economy had raised fears of a downturn in the executive market, with possible job losses. It has not happened. According to APEC, the association for executive employment, the year 2023 ended with a new historic record. 330,000 executives were recruited, on permanent or fixed-term contracts of more than one year. This is 7% more than in 2022.

This year, forecasts are still optimistic since 337,000 hires are planned. So it continues to increase, but much less sharply. Probably because companies anticipate a drop in their investments. And when they invest less, they recruit less. This is the adjustment variable for executive employment.

337,000 executive hires planned this year. Are all sectors affected?

There are strong disparities, as always. More than half of these hires – 190,000 in total – are planned in high value-added services. That is to say IT, engineering and R&D, telecommunications, legal activities, consulting, accounting, banking and insurance.

The industry plans 47,000 executive recruitments, which is 4% more than last year. Particularly in electrical equipment, automobiles and aeronautics. On the other hand, in the construction sector, which is going through a historic crisis, hiring forecasts fall by 30%. As in real estate elsewhere. Trade also remains fragile, due to the decline in household consumption.

How are these hiring forecasts distributed across the territory?

The two strongholds are Ile-de-France and Auvergne-Rhône-Alpes. Together, they should account for 60% of executive hires. 160,000 in Ile-de-France, a region which concentrates many high value-added activities and R&D. 38,000 in Auvergne-Rhône-Alpes, for the same reasons, but also thanks to its cutting-edge industry in electronics and optics, for example.

Also dynamic are the Loire and Occitanie regions. However, it is slowing down in Centre-Val de Loire, Hauts-de-France and Nouvelle-Aquitaine. Finally, note that 6 out of 10 recruitments concern executives, with 1 to 10 years of experience. Reluctance therefore remains appropriate for juniors and seniors, “an economic aberration”, says Giles Gateau, Director General of APEC.