Our View of 2008: Continued Strong Demand for Executive Talent

As 2008 approaches, many have asked if we see a downturn in the strong employment market for medical device and biotechnology executives. They wonder if the tightening of credit markets, high oil prices, and other economic concerns are causing companies to pull back on hiring.

At Travis & Company, we see no signs of a slowdown. In fact, we believe the market is as strong as it has been in many years. As a boutique that specializes in recruiting for medical device and biotechnology companies, our perspective is admittedly narrow, but we are optimistic that the market strength will continue. In fact, we are not aware of any companies in our core markets that are scaling back plans for growth because they are worried about the economy.

We asked the same question of clients and colleagues in the industry. While our survey was far from scientific, they echoed our optimism. And the Boston Business Journal recently reported on the rapid pace of hiring at small biotechs.

What about the world outside of medical devices and biotech? Some experts, like Joseph Daniel McCool, believe the growing demand for management talent trumps concerns about the economy. “For the first time I can remember, we're beginning to see some real separation between economic uncertainty and the pace of executive-level hiring," says McCool, author of a forthcoming book, Deciding Who Leads, and a contributing editor and online columnist for BusinessWeek. "Hiring organizations know they need top talent to compete in increasingly competitive markets.”

We hope 2008 will prove our optimism was well warranted. In the meantime, we will continue to focus on providing outstanding service to our clients.

Best wishes for a successful year!