Executive Search Rebounds with Rapid Quarterly Growth
Executive Search Rebounds with Rapid Quarterly Growth - According to AESC Report
Q2 2010 Reveals Renewal in Executive Search Activity around the Globe
NEW YORK--(August 17, 2010)--The second quarter of 2010 revealed the highest quarterly rise in executive search industry revenues since the low point in the recession only 15 months ago. Building upon already strong quarters in the second half of 2009 and early 2010, the latest report from the Association of Executive Search Consultants (AESC) shows a quarter-on-quarter 12 per cent growth rate in net revenue worldwide and substantial year-on-year growth in the number of search mandates started across most industries and regions. Highlights include a 42 per cent year-on-year rise in industry-wide revenues and a 38 per cent year-on-year increase in the number of new executive searches started globally.
Executive searches within the Financial Services industry witnessed the greatest year-on-year growth, rising 50 per cent from Q2 2009. This growth was closely followed by increased search activity within Technology, up 43.5 per cent year-on-year, and then Industrial (+39%) and Consumer (+37%).
AESC President, Peter Felix, commented, "The critical issue now is whether the next two quarters will hold up in the face of continuing uncertainty about a double dip recession. On the bright side, however, is the realization that the shortage of talent, already evident before the recession, is reasserting itself strongly. Companies have begun to think strategically again and in looking for growth are seeking out those executives who can offer both operational strength but also practical leadership in taking organizations and teams forward. The retained search profession sees this as a challenging but exciting time in partnering with clients as they seek new growth in a much changed world."
Based on quarterly regional trends, from Q1 2010 to Q2 2010, North America is emerging from the recession first and strongest, followed by Asia Pacific and other emerging markets.
A full copy of the Q2 2010 AESC State of the Executive Search Industry report is available upon request to the 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.
Eryn Feinsod, 212-398-9556 x235
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