AESC Member Login
FOR IMMEDIATE RELEASE
Natasha Renton
+32 2 733 3631
nrenton@aesc.org
FINANCIAL SERVICES, IT & BIOTECH TO DRIVE RETAINED EXECUTIVE SEARCH IN 2006
27.4% of Global Retained Executive Recruiters Predict Scarcity of Diverse Talent to Impact Industry in 2006, According to Association of Executive Search Consultants Survey
BRUSSELS — FEBRUARY 13, 2006 - According to a recent survey of 221 senior retained search firm executives worldwide, 66 percent predict that the financial services sector will dominate global executive search activity in 2006. In addition, respondents predict the information technology (53%) and biotech (55%) industries to be strong in 2006. The annual AESC Outlook Survey was conducted by the Association of Executive Search Consultants from November 18 - December 13, 2005.
27.4% of respondents also say that lack of diverse senior talent will be an issue for the industry in 2006.
"Over three-quarters of retained executive search consultants are optimistic about the industry's outlook for 2006. They're expecting continued growth in the financial services industry, but are also looking for a rebound in the global technology sector to drive business," said AESC president Peter Felix. "Our members are saying that companies are committed to increasing diversity in the senior management ranks. This will be a significant factor in the search industry through 2010."
Full results of this survey as compared to results in 2005 show that:
- Retained executive search consultants are equally as optimistic about industry growth for 2006 (77.1%) as they were for 2005 (76.9%).
- Respondents expect increased search activity in 2006 vs. 2005 in professional services, government, hotels/tourism, transportation and publishing.
- Respondents expect less search activity in 2006 vs. 2005 in manufacturing, consumer products, retail, marketing/advertising/communications and media/entertainment.
Detailed results from the 2006 survey of 221 retained executive search consultants include:
Is your outlook for the executive search business over the next year on the whole positive, negative, or neutral?
- Positive 77%
- Negative 2%
- Neutral 21%
What is your outlook over the next year for your search practice?
- Positive 78%
- Negative 1%
- Neutral 21%
In which sector(s) do you expect to see the most growth in 2006? (Choose up to 3 sectors.)
- Banking/Financial Services — 56.3%
- Information Technology — 34.4%
- Healthcare — 27.9%
- Pharmaceuticals/Biotech — 27.0%
- Consumer Products — 26.5%
- Professional Services — 26.0%
- Manufacturing — 21.9%
- Telecommunications — 16.3%
- Retail — 10.7%
- Government — 10.2%
- Media/Entertainment — 7.0%
- Hotels/Tourism — 6.5%
- Non-Profit — 6.1%
- Transportation — 5.1%
- Mktg/Advertising/Comm — 5.1%
- Education — 4.2%
- Publishing — 1.4%
Within which function(s) do you expect to see a scarcity of talent in the next 12 months? (Choose up to 3 functions.)
- General Mgmt/Board of Dir — 35.1%
- Finance/Accounting/CFO — 33.2%
- Professional Services — 28.4%
- Diversity — 27.4%
- Engineering — 22.6%
- Medical/Healthcare — 20.2%
- Sales/Mktg/Public Relations — 19.2%
- Information Technology/CIO — 19.2%
- Research and Development — 18.8%
- Human Resources — 17.8%
- Manufacturing — 16.8%
- Materials Management — 13.9%
- E-Commerce — 9.1%
Respondents were from the following parts of the world:
- Europe — 44.3%
- North America — 33.5%
- Asia Pacific — 13.6%
- Latin America — 5.9%
- Africa — 1.4%
- Other — 1.4%
About The Association of Executive Search Consultants
The Association of Executive Search Consultants is the worldwide professional association for the retained executive search industry. The AESC's mission is to promote the highest professional standards in retained executive search consulting, broaden public understanding of the executive search process, and serve 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, go to www.aesc.org.