Q2 2014 State of the Industry Report
Executive Search Activity Continues Upward Trend
Revenue growth continues, while the number of searches also rises for the first time in a year
In its second quarter report on the worldwide executive search industry, data from the Association of Executive Search Consultants (AESC) indicates quarter on quarter revenue growth of almost 10% and a year on year growth of 11%. The number of search assignments have also increased – by 4% both year on year and quarter on quarter – representing a reversal in the recent trend of fewer assignments albeit of greater value.
Sector trends highlighted particular growth in the number of new searches started within the Industrial sector, up 15.2% quarterly from Q1 2014 to Q2 2014 and 5.9% yearly from Q2 2013 to Q2 2014. Life Sciences/Healthcare also saw positive quarterly (5.3%) and yearly growth (1%) in new executive searches.
AESC President Peter Felix commented: “It is very encouraging to see continued improved demand for senior executives both on a regional and sector basis. This positive trend is indicative of economic recovery in the major economies of North America and Europe and the desire by Boards of Directors and top management to more actively engage in the search for the best talent to achieve growth and strategic development. We expect this positive trend to continue as the emerging markets of the world enjoy faster economic growth, and competition for the best executives gathers pace.”
The EMEA, Asia Pacific and North American regions all recorded strong annual and quarterly growth, while the Central and South American region recorded a drop in quarterly activity of 1.6%.
The AESC State of the Executive Search Industry Report is quarterly research carried out by the Association of Executive Search Consultants (AESC) since 2004 on trends in the global retained executive search and leadership consulting industry. Data for the report is collected from a consistent sample of AESC member search firms representing the activity of 1,430 executive search consultants in 46 countries worldwide. AESC access to retained executive search data positions this report as a leading indicator of the future worldwide management employment market and a barometer of hiring trends for top-level and seldom advertised positions in key market sectors.