NEW YORK & BRUSSELS--(BUSINESS WIRE)--Third quarter 2013 data released today 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.
A full copy of the AESC’s Q3 2013 State of the Executive Search Industry Report, which includes sector and regional breakouts, is available upon request to AESC members and credentialed media.
About the Quarterly State of the Industry Report
The AESC State of the Executive Search Industry Report is quarterly research carried out by the Association of Executive Search Consultants (AESC) since 2004 on trends in the global retained executive search and leadership consulting industry. Data for the report is collected from a consistent sample of AESC member search firms representing the activity of 1,430 executive search consultants in 46 countries worldwide. AESC access to retained executive search data positions this report as a leading indicator of the future worldwide management employment market and a barometer of hiring trends for top-level and seldom advertised positions in key market sectors.
About the Association of Executive Search Consultants
The Association of Executive Search Consultants (AESC) is the worldwide professional association for the retained executive search and leadership consulting industry. The AESC promotes the highest professional standards in retained executive search and leadership consulting, broadens public understanding of the executive search process, and serves as an advocate for the interests of its member firms. For more information, or to download the AESC Code of Ethics and Professional Practice Guidelines, please visit www.aesc.org.
The AESC also offers www.bluesteps.com, a career management service for senior executives, and www.executivesearchconnect.com, a free service for the HR community offering industry information and tools to assist with senior executive recruiting, including access to the AESC’s International Executive Search Directory.