Recruiting Industry ‘Marginally Affected’ by Global Concerns

November 6, 2011 – Third quarter data just released by the Association of Executive Search Consultants (AESC) shows that despite economic turbulence and a quarter-on-quarter reduction in the number of new executive searches started (-8.1 percent), overall revenue levels have been sustained continuing the momentum of the past two years which has returned the industry close to its all time revenue high of 2008. The year-on-year trend, from Q3 2010 to Q3 2011, revealed a five percent increase in the number of new search mandates and an 8.3 percent rise in revenues. The average value of executive search assignments was also on the rise, in this case both quarterly and annually. “Given the extraordinary volatility in global economic confidence during the third quarter, due to the European debt crisis and uncertainty in the United States, it is no surprise that executive search activity has been affected,” said AESC president, Peter Felix. “However, while search starts are down in most sectors and regions of the world, revenues have only been marginally affected due to the increased average fee per assignment.”