Executive Recruiters Facing Big Shift;
Finding Digital Leaders Explosive New Mandate
July 10, 2013 – A new 160-page report, Executive Search 2013: State of the Industry Report (U.S./Americas), commissioned by HSZ Media, LLC and released last week, predicts a vast realignment in the talent acquisition and executive search field over the next five years, highlighting ongoing challenges facing executive recruiters. “We have to pay close attention to how executive recruiters grapple with a host of pressures that are building within their industry,” said Scott A. Scanlon, one of the report’s lead editors. “From weak hiring markets and burgeoning social media technologies to growing competition from clients – we see a confluence of destabilizing forces that will create one of the most significant paradigm shifts in the history of executive recruiting.” HSZ Media predicts that rising competition between executive recruiters and their corporate talent acquisition clients will cost the search industry $650 million in recruiting revenue in 2013 as companies like Sears and W.R. Grace scale back their talent budgets in favor of spearheading these recruiting efforts in-house. HSZ Media’s report examines advances in social media technologies that are driving the industry’s reshaping – making it easier, more efficient and substantially more cost-effective for corporate hiring professionals to do their own hiring. “Social media is the biggest competitive threat to executive recruiting,” said Mr. Scanlon. “This report provides valuable insight to any business leader interested in gaining or maintaining their competitive advantage through acquiring top talent,” said Michael Aloupis, vice president – human resources officer, at JGWPT Holdings, who said that talent acquisition should be the centerpiece of every corporate business plan. “This is an important and insightful study for the talent business.” HSZ Media’s report shows how recruiters are racing to engage their clients by offering a broadening array of advisory services. Many search firms, like Korn/Ferry International, seem to be making headway in these efforts the report concludes, but pressures are mounting especially for the publicly-traded search firms. The report finds one other bright spot for recruiters: the hunt for digital leaders. “This is a relatively new mandate for the industry and it is exploding,” said Mr. Scanlon. “Helping companies cross the digital divide by identifying great leaders who can inspire and direct companies in the digital age has the potential to make up some of the revenue that’s being chipped away from the industry.” Those interested in purchasing a copy can call (203) 252-7302. A 20 percent discount offer of $475 per copy is available to all interested in purchasing the study through July 15, 2013.
