According to the Association of Executive Search Consultants (AESC), the executive search industry is experiencing a significant increase in overall revenues. Despite numerous trouble spots and pitfalls remaining within the global economy, we are optimistic that we may be experiencing the beginning of a recovery. We are seeing new search assignments in both the U.S. and Mexico.
QualiFind and AgriFind Executive Search has weathered other recessions (although not as severe as this one) and we are hopefully optimistic that what the AESC is reporting is a bellwether of what is happening in the broader global economy.
The AESC reported in January 2010 that executive search industry revenues in the U.S. rose by 10.5% from July to September 2009 over the prior three months. Also, the AESC reported that executive search assignments increased by 11% over the prior three months and the revenue per search consultant increased by 12%.
Another positive economic indicator that our agribusiness search practice (AgriFind) mirrored was a small quarterly increase (+1%) in the number of search consultants employed by executive search firms on a global basis. AgriFind just added a new partner and practice leader due to increased opportunities available in both the U.S. and Mexico.
The AESC report suggested an end to the massive downsizing experienced by search and recruitment firms since late 2008. These numbers and our own small increase in building our internal talent resources is expected to bode well for a pending recovery.
However, the AESC report also urged caution due to the large year-on-year declines that are still prevalent across all regions and industry sectors. Their report indicated that revenues for the search industry dropped as much as 34% from Q3 2008 to Q3 2009. Let’s hope the recovery continues…
Warren Carter is an Executive Recruiter in Qualifind, Inc. You can share your responses with Warren by e-mail at: wcarter@quali-find.com
Qualifind, Inc. provides professional and executive search services for specific disciplines and industries throughout the U.S. and Mexico. We are a U.S. based firm with our corporate offices in San Diego, California. We have branch offices and recruiting staff in the U.S. (i.e Chicago, Austin) and Mexico (i.e. Monterrey, Mexico City).
