Insights
2011 AESC Mid-Year Outlook Report
OPTIMISTIC MID-YEAR OUTLOOK FOR EXECUTIVE SEARCH
High Demand Expected to Continue in Emerging Markets and Energy/Natural Resources
Executive search professionals gave a 66% positive prediction for their industry in the second half of the year with the greatest optimism coming from consultants in Asia Pacific and the Americas, according to the Association of Executive Search Consultants’ (AESC) latest Outlook Report.
Executive search consultants predict that China, Brazil and India will see the greatest shortage of executive talent in the second half of 2011, while the Energy/Natural Resources sector is set for the biggest growth in senior hiring.
AESC President, Peter Felix, commented, “I am delighted to see that confidence within the executive search industry remains at a high level on a worldwide basis, in spite of continuing economic uncertainty in many countries. It is no surprise to see the emerging markets of Brazil, India and China showing the greatest talent shortage, but it is most encouraging to see a sustained resurgence of demand in the United States and other Asia Pacific markets. Europe remains the softest of regions but nevertheless has significant strengths in Germany and the UK.”
The General Management/CEO/COO function is expected to see the greatest shortage of talent worldwide in the second half of 2011, followed by Business Development and then Engineering. In order to keep up with the demand, over half the search firms surveyed plan to hire more consultants and researches from July to December 2011.
Felix continued, “All this points to the re-emergence of executive talent scarcity and the critical need for organizations to find top quality leaders in the new dynamics of world markets. The executive search profession looks forward to strong demand for its services in helping clients to plan and execute their talent management strategies for the future.”
The Association of Executive Search Consultants (AESC) Member Mid-Year Outlook Survey of June 2011 totaled 196 responses from AESC executive search consultants worldwide, including 51% from EMEA, 30% from the Americas and 13% from Asia Pacific.