WHAT WILL THE NEW GOVERNMENT MEAN FOR EXECUTIVE JOB SEEKERS?

Despite a week of uncertainty, a new government has been decided, with the Conservatives and Liberal Democrats forming an unlikely partnership. The good news for executive job seekers is that this is likely to provide stability to the burgeoning employment market and reinforce the confidence being shown by hiring managers in recent months.

But will a settled parliament really provide more opportunities for high–profile candidates? Derek Pilcher, managing director of TheLadders.co.uk speaks to Philip Shaw, chief economist at international banking specialist, Investec.

‘Looking ahead over the next year, it is likely that the country will experience a recovery in the economy, which will have a positive effect on the state of jobs’ says Shaw whose firm is listed on the Stock Exchange. While it may have appeared like doom and gloom during the downturn, the last 12 months hasn't seen unemployment reach three million people like previously predicted.

Will cuts impact those jobs in the public sector? ‘We are not expecting anything particularly cataclysmic. We think that cost cutting in the public sector will be centred on trying to control wages and mass layoffs are unlikely.’

Shaw believes the private sector will see growth, with jobs being created slowly but surely over the next 18 months as the UK emerges from the recession. Ironically, one hurdle jobseekers may have to leap is how well organisations have dealt with the downturn. He says that many companies have deployed innovative measures to hold on to their staff members rather than make them redundant, which could slow the growth of jobs in the short term. But Shaw suggests this will not stop unemployment levels falling as the year progresses.

High–profile executives may also have cause for celebration as the economist predicted "over the medium term that the recovery [will create] new jobs" in this end of the market as well. Expanding on this, he explained that the UK's tax structure will have an effect, but he said forecasts that major players will move abroad to overcome charges is unlikely, which will ensure Britain's top talent stays here and finds work.

So, all in all, it appears that 2010 and 2011 will prove to be fruitful for those who are seeking a job. Mr Shaw's comments support the opinions of other leading industry experts who are becoming more optimistic of the fruits an upturn will bear, following the harsh winter of the recession. Now it remains for executive job seekers to make sure they are prepared to reap the rewards of the recovery too.