Stock-Market Slide Gives Headhunters An Opportune Wedge
ASIDE FROM the odd short seller, there aren't many people actively rooting for further stock-market declines. But executive recruiters admit they'd be happy to see the market stumble a bit more.</br></br>"I'm paid to uncouple employment deals and extricate the talent," says Peter Crist, of Crist & Partners, Chicago. Extrication was difficult when the bull was roaring and executives were getting rich on options. Now, some of that wealth is vanishing. "None of us wants a disastrous blow, but a little softening would give us some working room," Mr. Crist says. "If your options are underwater, you're more interested in listening to my overture."</br></br>The volatility of the stock market has created some interesting career quandaries for senior executives. Market gains aren't covering up mediocre results anymore, so underperformers are feeling the heat. Meanwhile, depressed stock prices can mean bigger profit potential on newly issued options, a potent selling point for recruiters attempting to entice star performers to jump ship.</br></br>Plenty of people are still tuning out the recruiters' siren song, confident that the bull will eventually return, confirming the wisdom of taking a long-range view. Others refuse even to acknowledge the market's role in career decisions, saying that job satisfaction and the potential for increased challenge mean more than money.</br></br>But let's face it: The best senior-level people aren't about to change jobs without a financial incentive. And stock options have become the velvet handcuffs of the compensation game.