headhunter

Recruiter pain a signal of Sarbox uncertainty

Mon, 23 Apr 2007 20:01:39 -0400

Robert Half International, a big headhunter-type firm, has benefited from the rise of Sarbanes-Oxley. Like a lot of executive search companies, there was law-generated turnover that kept them busy. In addition, its Protiviti unit fared very well as demand soared for its independent internal audit and risk-assessment consulting services. So it really seemed to have hit the Sarbox sweet spot. But the company missed its first-quarter estimates. And the company guided analysts lower for the second quarter--to the 40 to 43 cents per share range. That compares with previous estimates in the 48 cents range. One issue seems to be that more companies are scaling back their risk-assessment work or putting off until the issues are better clarified. If more companies are scaling back, in a sense, that means the drive to narrow the scope of Sarbox is working. If they are merely postponing, we could see a really frenzied rush once, make that if, the guidance from regulators is made explicit. Interesting.

For more:
- here's the AP article via Forbes

What are your job prospects like in 2007?

Mon, 12 Feb 2007 19:01:39 -0500

We've discussed before that Sarbox has been a real boon to finance and information technology employees who specialize in compliance. In the upcoming year, this trend will likely remain intact, and will likely present many opportunities for those aiming to trade up. Headhunter Robert Half International has come up with five "hot jobs" for this year: Internal auditor, compliance executive, financial analyst, staff accountant, and external auditor. Not too hard to figure out what's behind the boom. At the top of the heap: Compliance executives with a Securities and Exchange Commission reporting portfolio. Starting salaries for chief compliance officers at large companies, a relatively new position, are projected to be in the $132,500 to $181,250 range. The pay is a bit less at smaller companies. In both cases, that's about a 9 percent rise. One tack may be to acquire both IT and accounting compliance skills. Sarbox, if you haven't figured it out by now, is an interdisciplinary endeavor.

For more Robert Half's hot jobs:
- read this summary

From the perspective of board headhunters...

Mon, 04 Sep 2006 20:01:39 -0400

Spencer Stuart, the well-known headhunter, conducts around 60 percent of all director searches for big public companies. Which puts them in a good position to monitor trends and such. Julie Daum, who heads the practice at the firm, has some interesting observations in a recent Q&A with the New York Times. She thinks that Sarbox has lit fires in many boardrooms but wonders if it will lead to an unduly risk-averse approach. She also discerns that more boards are reaching out to shareholders, via the lead director or someone else. On Sarbox issues, no one would be surprised if the audit committee head were in direct contact with top stockholders or even the media. Five years ago, that would have been unthinkable.

For more on Sarbox through the eyes of a headhunter:
- Here's the Q&A from the New York Times