How New Product Development Professionals Succeed in Today's Job Market 2011

How NPD professionals succeed in today’s job market Kathy Morrissey Mike Napier Sponsored by:connections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 1

Agenda • Survey results – Demographics of study participants – Organization outlook – Job seeker results • Supplemental slides • Interview tipsconnections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 2

Survey background • NPD Recruiting conducts this annual survey on new product development (NPD) job trends, sponsored by the Product Development Management Association (PDMA) • Survey started in 2010 • NPD professionals were invited to participate in the survey through announcements in email, Linked-In, Twitter, blogs, and the websites of PDMA and NPD Recruitingconnections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 3

Increase in participants years of NPD experienceSource: 2011 New Product Development Professionals Surveyconnections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 5

Study participant’s discipline What discipline best describes your role in new product development at your current or last company? Other , 26% Product Management, 20% Engineering, 11% Executive Management, 10% Project Management, 10% Strategy, 5% R&D, 10% Marketing, 7%Source: 2011 New Product Development Professionals Surveyconnections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 6

Study participant’s industry Which category best describes the industry of your current or last employer? 0.0% 5.0% 10.0% 15.0% 20.0% Automotive Business Services (Consulting) Chemicals Clean/Green Technology Communications (including telecom) Computer Hardware Computer Software Consumer Durables Consumer Electronics Consumer Products (Consumables) Defense/Aerospace Energy/UtilitiesEnvironmental Products and ServicesFinancial Services/Banking Insurance Food High Technology Manufacturing Medical Devices Other (please specify)Source: 2011 New Product Development Professionals Surveyconnections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 7

Unemployment rate declined in 2011Source: 2011 New Product Development Professionals Surveyconnections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 8

Older workers are more likely to be under- or unemployed Over 54 45-54 35-44 25-34 0% 20% 40% 60% 80% 100% Employed – not actively looking Employed – monitoring the job market Employed – actively looking Doing temporary or contracting/consulting work while looking for a full-time position UnemployedSource: 2011 New Product Development Professionals Surveyconnections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 9

Employment status by industry 0% 20% 40% 60% 80% 100% Financial Services/Banking Insurance Employed – not actively Chemicals looking Communications (including telecom) Energy/Utilities Employed – monitoring the job market Business Services (Consulting) Computer Software Employed – actively looking High Technology Consumer Durables Manufacturing Doing temporary or contracting/consulting work Medical Devices while looking for a full-time position Consumer Products (Consumables) Unemployed Consumer Electronics Defense/AerospaceSource: 2011 New Product Development Professionals Surveyconnections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 10

Salaries by NPD professional titleSource: NPD Recruiting (Reported by Candidates)connections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 11

Salaries roughly the same How much did your current total annual compensation (salary and bonus) change compared to the prior year? 45% 40% 35% 30% 25% 2010 20% 2011 15% 10% 5% 0% Greater 31-50% 11-30% Up to 10% About the Up to 10% 11-30% 21-50% Greater Not sure than less less less same more more more than 50% less 50% moreSource: 2011 New Product Development Professionals Surveyconnections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 12

Increase in dissatisfaction with compensation How do you rate your current or last compensation (salary and bonus) 70% 60% 50% 40% 2010 30% 2011 20% 10% 0% Higher than Equitable pay for Lower than equitable the work required equitableSource: 2011 New Product Development Professionals Surveyconnections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 13

Employer priorities What are your organization’s top business priorities for 2011? (please choose up to three) 0% 10% 20% 30% 40% 50% 60% Establish a clear business and product strategy Aggressively work to gain market share Increase the number of innovative products Cut product unit cost Try to achieve a balanced portfolio of products Cut NPD overhead cost Investing in new technology Decreasing technology spend Decrease the number of innovative products, and… Manage and develop people on the NPD team Other (please specify)Source: 2011 New Product Development Professionals Survey 2010 2011connections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 15

Employer investment in NPD I expect my organization to react to the current economic climate by: (please check all that apply) 0% 20% 40% 60% 80% Expecting the current workforce to do more with less Focusing on cost-saving initiatives Investing for the future Not adding NPD talent Not filling open NPD positions Positioning for the economic recovery Not filling open non-NPD positions Hiring additional NPD talent Not adding non-NPD talent Hiring additional non-NPD talent Eliminating NPD talent Eliminating non-NPD talent Other (please specify)Source: 2011 New Product Development Professionals Survey 2010 2011connections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 16

NPD professional trends • Employed new product development professionals open to changing positions: 60% • Employed new product development professionals that have conducted a job search in the last 12 months: 63%Source: 2011 New Product Development Professionals Surveyconnections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 17

Employee retention outlook 0% 20% 40% 60% 80% 100% I plan to stay with my current company during 2011 I am considering leaving my organization in the next 12 months I would like to make a change to my role while still staying in the same organization during 2011 I am ready to leave and start a new job search I would like to leave my current organization but believe this is not a good time to begin a job search Strongly Agree Agree Not Sure Disagree Strongly DisagreeSource: 2011 New Product Development Professionals Surveyconnections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 18

Top reasons for leaving employer What are the top reasons you would consider leaving your current or last employer? (Please choose up to three.) 0% 20% 40% 60% Lack of learning and growth Negative work environment Poor compensationWork that is not challenging enough Poor work/Life Balance Too difficult a commute Work I dislike to do Too much travel Work that is too challenging Too little travel Other Source: 2011 New Product Development Professionals Survey 2010 2011 connections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 19

Top reasons for staying with employer Reasons for staying with current employer (Frequency of mention in top three) 0% 10% 20% 30% 40% 50% 60% Work I like to do LocationAbility to provide input on the organization Compensation Work/Life Balance Challenging work Positive work environment Learning and growth Team work Organization performance Amount of travel OtherSource: 2011 New Product Development Professionals Survey 2010 2011connections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 20

Top tactics for finding new employees Please rate the effectiveness of each of the following candidate recruitment tactics, based on your own experience: % tried 0% 20% 40% 60% 80% 100% tactic Utilize my network 93% Recommendations from current employees 99% Hire a retained search firm 71% Free job posting sites (e.g. LinkedIn) 74% Commercial job posting sites (e.g. Six Figures, Monster) 83% Search social networking sites (e.g. LinkedIn, Facebook) 71%Professional association job boards (e.g. PDMA, PMI, ASME) 65% Work with contingency recruiters 75% Attend professional association networking events 79% Own corporate website job posting 85% Very successful Somewhat successful Not very successful UnsuccessfulSource: 2011 New Product Development Professionals Surveyconnections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 21

Trends in job opportunities 0% 20% 40% 60% 80% 100%Unemployed status is no longer a factor in the hiring decision - 2011Unemployed status is no longer a factor in the hiring decision - 2010 Job opportunities are increasing now - 2011 Job opportunities are increasing now - 2010 Strongly Agree Agree Not Sure Disagree Strongly DisagreeSource: 2011 New Product Development Professionals Surveyconnections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 23

A greater percentage of job searches are executed by fully employed professionalsWhich best describes your status Which best describes your status during your job search during your job search 2010 2011 Unemployed Unemployed 14% 12% 5% 7% 30% Fully employed Fully 46% employed 35% Employed part- Employed time 52% part-time Self-employed Self-employedSource: 2011 New Product Development Professionals Surveyconnections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 24

A smaller percentage of respondents have conducted a recent job search Have you conducted a job Have you conducted a job search in the last 12 months? search in the last 12 months? 2010 2011 Yes Yes 22.9% No 36.7% No 63.3% 77.1%Source: 2011 New Product Development Professionals Surveyconnections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 25

Job search success rate is unchanged Did your job search result in a new Did your job search result in a new position? position? 2010 2011 30% Yes 32% Yes No 68% 70% NoSource: 2011 New Product Development Professionals Surveyconnections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 26

Job searches completing fasterPercentage of allrespondents thatconducted a job searchin the last 12 months: 2010: 64% 2011: 78% Source: 2011 New Product Development Professionals Survey connections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 27

Newly employed are more satisfied with compensation Are you satisfied with the Are you satisifed with the compensation package? compensation package? 2010 2011 36% 45% Yes Yes 55% 64% No NoSource: 2011 New Product Development Professionals Surveyconnections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 28

Newly employed were more willing to compromise Is the new position in the field or Is the new position in the field or function you wanted? function you wanted? 2010 2011 16% Yes 25% Yes No No 75% 84%Source: 2011 New Product Development Professionals Surveyconnections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 29

Job search compromise common themes • “Work is not challenging, not the type of work I really wanted to do.” • “I am satisfied enough for the moment with the compensation package …I know the role offers potential for promotion and is with a solid company but I had to take a step back in comp to land a job.” • “…wanted an internship in a different industry but could not obtain one due to lack of domain knowledge. That is the biggest obstacle to shifting to a new industry.” • “I took a position that was far beneath my experience level for a paycheck…overqualified and underpaid…” • “I accepted a job with less responsibility and pay because I was scared to death of being unemployed any longer.”Source: 2011 New Product Development Professionals Surveyconnections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 30

Lengthy unemployment has declined For those unsuccessful in their job search … How long have you been looking? How long have you been looking? 2010 2011 13% 3 months or 3 months or 25% less 33% less 37% 19% 4-6 months 4-6 months 14% 7-9 months 7-9 months 15% 14% 16% 14% 10-12 10-12 months months more than more than 12 months 12 monthsSource: 2011 New Product Development Professionals Surveyconnections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 31

Job search obstacles common themes • “Postings are for very specific experience. Most companies do not reply one way or the other.” • “Obstacles include too many applicants for 1 position, hiring managers being very particular/specific, and jobs going on hold due to budget.” • “…companies are not willing to consider candidates unless they meet very narrow criteria.” • “fewer opportunities for growth” • “All of my contacts were organized through my previous employer. I lost access to my old computer the moment I was laid off. I should have had all contacts on my personal computer at home.” • “Underwater mortgage…the online application black hole…age and salary…”Source: 2011 New Product Development Professionals Surveyconnections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 32

Top job search tactics Top Ten Job Search Tactics 0% 20% 40% 60% 80% 100% Utilize my network Contact former colleagues for leads Increase your visibiity on social networking sites like Linked-In… Contact friends and family for leadsContact the manager of the appropriate department in a firm you… Explore alternative careers Apply to free job postings on Internet(e.g. Indeed, Monster,… Contact recruiters Pursue new skills and certifications to enhance resume Attend professional association networking events (e.g. PDMA,… Very successful Somewhat successful Not very successful Unsuccessful Source: 2011 New Product Development Professionals Survey connections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 33

Job search tactics common themes • “Best tactic is network and former colleagues” • “Networking while volunteering for non-profit organizations has been helpful” • “LinkedIn and recruiters are my top choices when being successful in job search…” • “Increasing my exposure on social networking sites (LinkedIn) has resulted in some unsolicited recruiter contact with fruitful results.” • “Reaching out to individual companies via any of the standard portals (e.g. HR or corporate websites) has had very poor results.” • “Social networking and writing articles, blogs in a requirement for any professional, not specific to a job search.”Source: 2011 New Product Development Professionals Surveyconnections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 34

Summary / takeaways • Little change in salaries for NPD professionals – Growing dissatisfaction with compensation • Trends indicate improved outlook for NPD job seekers – More NPD professionals employed in 2011 – Time to find a job has decreased – More employed professionals willing to look for new positionSource: 2011 New Product Development Professionals Surveyconnections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 35

Contact information Kathy Morrissey kmorrissey@npdrecruiting.com Partner 312-212-3140 NPD Recruiting Mike Napier mnapier@npdrecruiting.com Principal 414-702-7088 NPD Recruiting www.npdrecruiting.comconnections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 36

Increase in female participants Gender Gender 2010 2011 21.2% 27.8% 78.8% 72.2% Female MaleSource: 2011 New Product Development Professionals Surveyconnections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 39

Study participant’s residenceSource: 2011 New Product Development Professionals Surveyconnections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 40

Study participant’s company size What is the size of your current or last employer? (Total company sales) 50% 40% 30% 2010 2011 20% 10% 0% $0-10 $11-100 $101-500 $501-1,000 Over $1,000 Not sureSource: 2011 New Product Development Professionals Survey Sales in Millionsconnections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 41

Study participant’s job tenure How many consecutive years have you worked for your current or last employer? 35% 30% 25% 20% 2010 2011 15% 10% 5% 0% Less than 1 1-3 4-6 7-9 10-15 16-25 More than 25Source: 2011 New Product Development Professionals Surveyconnections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 42

Study participant’s time unemployedSource: Economic News Release Table A-12. Unemployed persons by duration ofunemployment, seasonally adjusted August 5, 2011Source: 2011 New Product Development Professionals Surveyconnections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 43

Study participant’s educationSource: 2011 New Product Development Professionals Surveyconnections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 44

Study participant’s salarySource: 2011 New Product Development Professionals Surveyconnections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 45

Study participant organizations outlook 0% 20% 40% 60% 80% 100% My organization is committed to me My organization is concerned about retaining NPD talent There will be a high level of turnover with our NPD talent over the next year My organization reduced NPD positions in the past 12 months My organization increased NPD positions in the past 12 monthsI expect my organization to recruit talent in 2010 at a lower compensation than in previous years Strongly Agree Agree Not Sure Disagree Strongly Disagree Source: 2011 New Product Development Professionals Survey connections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 46

Tactics for finding new employees Please rate the effectiveness of each of the following candidate recruitment tactics, based on your own experience: % tried 0% 20% 40% 60% 80% 100% tactic Utilize my network 93% Recommendations from current employees 99% Hire a retained search firm 71% Free job posting sites (e.g. LinkedIn) 74% Commercial job posting sites (e.g. Six Figures, Monster) 83% Search social networking sites (e.g. LinkedIn, Facebook) 71% Professional association job boards (e.g. PDMA, PMI, ASME) 65% Work with contingency recruiters 75% Attend professional association networking events 79% Own corporate website job posting 85% Search paid commercial resume databases (e.g. Six Figures, Monster) 68% Attend meetings of networking organizations 75% Rely on our human resources department 93% Alumni job boards 60%Search professional association resume databases (e.g. PDMA, ASME) 60% Search alumni resume databases 58% Newspaper ads 66% Attend job/career fairs 59% Very successful Somewhat successful Not very successful Unsuccessful Source: 2011 New Product Development Professionals Survey connections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 47

Tactics for finding a job Please rate the effectiveness of these job search tactics based on your own experience % tried 0% 20% 40% 60% 80% 100% tactic Utilize my network 95% Contact former colleagues for leads 85% Increase your visibiity on social networking sites like Linked-In and Facebook 85% Contact friends and family for leads 77% Contact the manager of the appropriate department in a firm you would like to… 63% Explore alternative careers 52% Apply to free job postings on Internet(e.g. Indeed, Monster, LinkedIn) 93% Contact recruiters 84% Pursue new skills and certifications to enhance resume 56% Attend professional association networking events (e.g. PDMA, PMI) 57% Apply to job postings on corporate websites 95% Attend meetings of networking organizations (e.g. Gray Hair Management,… 46% Increase your visibility by writing articles for publication in magazines 29% Utilize services of the career development office at your alma mater 44% Hire professional career help/coach/mentor 30% Apply to job postings as member of a paid service (e.g. Six Figures, Ladders) 51% Apply to job postings on alumni job boards 54% Contact the Human Resources department of firms you would like to work for 55% Post resume in a professional association resume bank (e.g. ASME) 55% Post resume in a paid commercial resume bank (e.g. Six Figures, Ladders) 47% Utilize paid resume distribution service (e.g Monster myResumeAgent) 29% Attend job fairs 44% Post resume in a free commercial resume bank (e.g. Monster) 77% Apply to job postings in newspapers 46% Post resume in an alumni resume bank 49% Very successful Somewhat successful Not very successful UnsuccessfulSource: 2011 New Product Development Professionals Surveyconnections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 48

9 tips for interviewing • Tip 1: Do your homework – Research the company, and the people you will meet at the interview (Google, LinkedIn) • Tip 2: Role Play – Once you finished studying, rehearse and be concise • Tip 3: Eye Contact – Maintain eye contact with your interviewer • Tip 4: Be positive – In particular, avoid negative comments about anything (employers/teachers etc.) • Tip 5: Relate – Relate your answers to the interviewer and focus on achievements relevant to the position and company – use what you found in your research (Tip 1)connections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 50

9 tips for interviewingcontinued • Tip 6: Honesty is the best policy – Be honest about your income, a lot of companies are asking for a candidates last pay stub/tax return • Tip 7: Use snail mail – Send a thank you email right away, then a handwritten thank you note to your interviewers, it really sets you apart from the crowd • Tip 8: Be prepared – Most companies now conduct psychological and drug testing • Tip 9: Play it close to the vest – Avoid revealing too much personal information (health, family, etc.) and clean up your online presence (facebook, etc.)connections © 2011 Strategy 2 Market, Inc.® dba NPD Recruiting® 12/6/2011 All rights reserved | www.NPDRecruiting.com 51

How New Product Development Professionals Succeed in Today's Job Market 2011

by NPD Recruiting on Dec 15, 2011

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How New Product Development Professionals Succeed in Today’s Job Market 2011 — Presentation Transcript

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