微密圈

All is suspiciously quiet on the executive salary front. A dissection of the figures in this year鈥檚 Hays Executive salary guide reveals that little has changed since last year. However, there鈥檚 something going on behind the scenes, in the private offices and private thoughts of ambitious company leaders. Something that the statistics do not reveal 鈥� the Olympic effect.

Executives are postponing any big career moves until they know which contractors are going to be the major players in the Olympic framework. 鈥淭hey鈥檙e waiting until nearer to the day when the first brick is laid,鈥� says Dan Plimmer, the senior consultant at Hays Executive, who gathered the data for this year鈥檚 survey. Those harbouring hopes of a top job are biding their time, watching and waiting. 鈥淭hey鈥檙e taking stock, biding their time and holding out for the right opportunity. They don鈥檛 want to make a wrong move now and miss the bandwagon.鈥�

Richard Woods, managing director of executive search consultant MC2 Management, has already observed the Olympic effect in action: 鈥淭he Games are really starting to grip people鈥檚 interest. There is almost a sense of peer pressure developing in the industry, as people ask themselves what role they will play. This is having a definite effect on career decisions.鈥�

Top executives will not be holding out for any old Olympic project, they will be attempting to land one of the sexy projects, such as the Olympic stadium and village, which would be the making of any global executive鈥檚 CV.

鈥淵ou wouldn鈥檛 want to move to the organisation doing the temporary stadium or the beach volleyball court,鈥� says Plimmer. 鈥淏eing behind one of the big projects, and getting it right, could be the pinnacle of somebody鈥檚 career. After that they really would have a global perspective. There is a taboo attached to the construction of major stadiums after Wembley and the Millennium stadium, but the benefits outweigh the risks.鈥�

Executives are aware that making a big move now and then another 鈥淥lympic鈥� move in a few years鈥� time could be a career faux pas. 鈥淛unior executives are thinking, 鈥業f I move now, and then again in two years鈥� time, it will look bad on my CV鈥�,鈥� says Plimmer. 鈥淭hat would be only two financial cycles and at that level a good executive needs to be around for at least five.鈥�

Plimmer predicts that we will start seeing the Olympic effect on salary rates in two to three years鈥� time when the design and planning has finished and the contracts go out to tender. 鈥淲e鈥檝e noticed that those upstream to the contractors 鈥� those involved with the and design and bid process 鈥� are being offered above-market rates to get involved. It鈥檚 inevitable we鈥檒l see a knock-on effect on contractors.鈥�

Woods, on the other hand, believes that the Olympic effect is already being felt by contractors: 鈥淲e鈥檙e already negotiating 25% pay increases on top of market-leading salaries relating to some key Olympic appointments and are handling 10 six-figure appointments relating to Olympic infrastructure and development work. We anticipate this to increase dramatically, particularly in the 拢60,000-100,000 middle management range over the next 18 months.鈥�

This trend is visible in this year鈥檚 survey in mid-point companies and at junior director level. 鈥淐ompanies are protecting their futures by offering individuals benefits they can鈥檛 take with them,鈥� says Plimmer. 鈥淭hey鈥檝e been given equity and x amount of shares, which make it more difficult to move on. It鈥檚 almost like golden handcuffs.鈥�

With the Olympics being such a high-profile project, firms will be looking to invest in professionals with proven ability to deliver. 鈥淭he Olympic Delivery Authority (ODA) and individual companies are going to have to entice people away, especially if they鈥檙e happy in their jobs. They鈥檙e going to have to have an open cheque book. They鈥檒l be drawing from a small pool of UK-wide candidates.鈥�

The headhunters

Headhunters 鈥� or 鈥渆xecutive search specialists鈥� as they generally prefer to be known 鈥� will play a crucial part in the Olympics, and hopeful executives will be aiming to get to know one or two of them over the next few years. Firms hoping to entice high flyers will undoubtedly use headhunters to spread their nets and draw the right candidate in, and executives who have their hopes pinned on an Olympic move will already be discussing potential opportunities in hushed phone conversations.

Companies are protecting their futures by offering individuals benefits they can鈥檛 take with them

鈥淚鈥檓 sure there are some people out there who know exactly where their careers are going and they鈥檒l be networking with the ODA and the major contractors who will undoubtedly be picking up some of the major projects. They鈥檒l also be meeting with good headhunters,鈥� says Pimmer.

Woods has already witnessed some surreptitious manoeuvrings: 鈥淲e鈥檝e come across situations where candidates have been lobbying all competing organisations, hedging their bets and increasing their chance of involvement.

鈥淗eadhunters will apply their knowledge, networking and research skills in identifying and presenting a shortlist of candidates that should wholly satisfy the brief.鈥�

In order to stand out from the crowd ambitious individuals will plot how they can maximise their visibility. 鈥淏e featured in trade magazines and go to industry events,鈥� advises Alan Rundle, chairman of Rundle Brownswood, another executive search company.

It is also important to stay on the right side of headhunters. 鈥淎lways return the headhunter鈥檚 call. The job today may not be for you but if you are polite and take the opportunity to impress the headhunter with your vision and energy, you won鈥檛 be forgotten,鈥� says Rundle.

Lesley Fletcher, partner in headhunter Thomas Cole Kinder, says joining networking groups and industry bodies such as the RICS and Chartered Institute of 微密圈 can make an executive stand out from the cause. 鈥淪peaking at conferences demonstrates that you are knowledgeable. Get yourself on your company鈥檚 website as well.鈥�

But all headhunters warn that no amount of networking can replace hard work and a proven track record. 鈥淲e do a lot of research behind the scenes to elicit good names from credible sources. Often a colleague or somebody more senior than you will recommend you discreetly,鈥� says Rundle.

鈥淲e will always look to source talent on ability, not just profile,鈥� adds Woods.

Headhunters will also have their work cut out 鈥� they have already noticed that the Olympic effect is making it harder to lure key executives away from their current roles. 鈥淲e have experienced two occasions when senior directors have declined written offers on the basis that their current employer was better placed to be involved in the Olympics,鈥� says Jamie Orr, a consultant with search consultant Ellis Fairbank.

Orr says he would like to see the Olympic effect happening sooner rather than later 鈥� that way they could put their time to good use. 鈥淚 would say it is very difficult for executives to be planning long-term career moves. Those wanting to be involved in the delivery would be better served in pursuing the best project opportunities and challenges for their career right now. The best talent want to be kept busy.鈥�

As well as dispensing advice, the executive search consultants are keen to dispel one myth 鈥� the idea that the clandestine meetings between executives and headhunters take place over brandy and cigars in private members clubs. 鈥淲e still use the Institute Of Directors and some of the signature hotels,鈥� Woods says. 鈥淏ut today it is more about time, convenience and the content of our conversation. Professionals are happy to meet in a local Starbucks 鈥� although often not the one nearest the office.鈥�