Executive Search Revenues Rise In Third Quarter
Third quarter 2013 data released by the Association of Executive Search Consultants (AESC) reveals a global increase in the value of senior executive search assignments, reflecting the second quarter trend of an industry focused on recruiting C-level and senior management positions.
The average fee per executive search assignment increased quarter-on-quarter and year-on-year in the third quarter of 2013 (+4.4% and +6.4% respectively), while the number of new executive search starts declined (-6.6% quarterly and -11.2% yearly).
However, the declining search volume is also set against a strong rise in year-on-year revenues of +11.7 per cent from Q3 2012 to Q3 2013.
“The third quarter results, building on the trends of the last year, clearly reflect client demand is focused on higher level searches as opposed to the volume associated with more middle level recruiting,” said Peter Felix, President of AESC. “The retained search firms are gaining momentum at the top level of the executive suite, where more complex, confidential and global assignments are often standard. Given the world economy is steadily reawakening and the talent shortage is still severe in many markets, we believe the outlook is promising for the industry as a whole.”
The third quarter market share outlook revealed that financial services and consumer products both held small year-on-year increases in market share. Life sciences/healthcare had no change in its market position, while the industrial and technology sectors slowed modestly compared to greater comparative gains in financial services and consumer new search starts.
search-consult is published by Dillistone Systems, supplier of FileFinder Executive Search software. Dillistone Systems is part of Dillistone Group Plc, as are Voyager Recruitment Software and FCP Internet, supplier of the Evolve Recruitment Software SaaS system.