AESC Executive Search in Transition
Findings from this 2010 AESC report indicate the professional service industry is undergoing changes as client demands broaden on a global scale and the industry adjusts to the impact of the internet. The trends are expected to continue and may become a more significant part of executive search revenue and practice in the future.
Key conclusions of the report show:
- Demand for retained executive search services has grown significantly in the past 10 years due to globalization, industry restructurings and the shortage of executive talent created by changing demographics and demand from the emerging markets.
- Executive Search is today a globally based professional service as search firms expand their coverage into more than 70 countries.
- Search consultants have become more specialized, with industry and functional practices now common.
- The level of assignments have become more senior as the lower end of the market has become commoditized due to the internet and social media.
- Many search firms have been asked for, and provide, a variety of leadership consulting services which include assessment, executive coaching, succession planning and board advisory.
- Executive search is now a mature profession which has established itself as a critical management tool to enhance organizational effectiveness and competitiveness.