Executive search leaps ahead
THE search for executive talent has increased. This is an indicator of continued global growth, says a report from The Association of Executive Search Consultants. In the last quarter, the executive search industry’s revenues increased by 20 per cent over the same period last year, the report says. ‘‘ Senior level executive search activity is always an indicator of growth, of change and of strategic development,’’ says AESC president Peter Felix. ‘‘ In the past four years, we have witnessed the unusual phenomenon of major forces coming together to create an unprecedented demand for executive talent around the world. Organisations concerned to seek out the best talent now recognise that the worldwide shortage created by demographic changes, the expansion of emerging markets, such as India, China and Russia, and changes in attitudes and motivation of executives are all contributing to a ‘ perfect wave’ of demand.
‘‘ To compete for the best talent they recognise the need for retained executive search consultants to represent them in the market. These are heady days for the executive search profession.’’
Out of the total executive search market, the US represented more than 40 per cent, Europe 34 per cent, AsiaPacific 16 per cent and South America 7 per cent.