Insights
Q2 2005 State of the Industry Report
GLOBAL EXECUTIVE SEARCHES INCREASE OVERALL SINCE Q1, INDICATOR OF JOB MARKET GROWTH
According to the latest AESC State of the Executive Search Industry report released today by the Association of Executive Search Consultants (AESC), the number of executive searches conducted in Asia/Pacific rose by ten percent from Q1 to Q2, while searches in Europe decreased by four percent in the same period. Searches in the U.S. also increased, by four percent.
The AESC report also revealed that the financial and industrial sectors realized the largest increases in number of executive searches, up nine percent and three percent respectively from Q1 to Q2.
Peter Felix, AESC President, noted, "These figures underline the resurging strength of the retained executive search business and the robustness of the worldwide economy. Organizations are recognizing that the time is now to develop bench strength in their management teams and to seek out executive talent that can help implement their strategic plans for the future."
Felix added, "We may not yet be back to the heady days of the War for Talent in 2000; nevertheless, there are indications that our members are as busy as they have ever been - that can only mean dynamic growth and the gearing up of the economy."
Gross executive search industry revenues from the previous quarter increased by over eight percent, despite the fact that the number of search assignments started only increased by one percent, thus indicating a higher income value of individual search assignments.
The data was collected from a sample of AESC member search firms representing the activity of over 1,200 executive search consultants in 215 offices located in 42 countries worldwide. AESC access to job search data positions this Report as a leading indicator of the future worldwide job market and a barometer of hiring trends in key market sectors.