Executive Search Builds Momentum, Asia Pacific Sees Most Growth, According to AESC
Quarter One Data Reveals 48.3% Yearly Increase in Executive Searches Started in Asia Pacific
NEW YORK--(May 11, 2010)--The first quarter of this year showed further positive signs of recovery for the senior executive search industry around the world with annual growth of 30.2 per cent in new executive search mandates and a 22 per cent rise in revenues - revealed new data from the Association of Executive Search Consultants (AESC).
The Asia Pacific region experienced the most significant year-on-year rise in new search mandates in Q1 this year (+48.3%) followed by North America (+29%) and Europe (+26%). The Asia Pacific region also increased its market share by 2.5 per cent in Q1 to represent 17.5 per cent of the global executive search market.
All industry sectors included in the survey enjoyed annual and quarterly increases in new search activity with the most significant annual growth witnessed in the Financial (+39.2%) and Technology (+37.3%) sectors.
AESC President Peter Felix commented, "While the global search industry statistics from first quarter are in themselves encouraging, what is more so is the cumulative growth since our industry turned the corner in the third quarter of last year. While momentum has been slow in coming, growth is now tangible and the rate of growth is increasing."
Mr. Felix added, "This indication of renewed hiring at the senior executive level will give greater confidence to executives who are in transition or considering career changes. Our recent BlueSteps.com survey suggested that 41 per cent of executives are dissatisfied with their present positions and would respond positively to a new opportunity. The underlying trends of talent shortage - caused by changing demographics and the clear demand from emerging markets - will continue to feed the demand for exceptional talent in the years ahead."
A full copy of the Q1 2010 AESC State of the Executive Search Industry report is available to AESC members and press.
The Association of Executive Search Consultants (AESC) represents the best retained executive search consulting firms around the world and promotes the highest professional standards in the industry. Visit www.aesc.org for more information about AESC, The International Executive Search Directory or BlueSteps, the career management service for senior executives.
Theresa Semackor, +1 212-398-9556 x227
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