AER Launches UK's 1st Major Research Project Into Executive Search
A new research project has been launched to identify “the future of executive search”. The Association of Executive Recruiters (AER), a group within the Recruitment and Employment Confederation (REC), has launched a three-phase programme to clearly evaluate the state of the industry.
The first phase brings together all the existing information about the state of the executive recruitment market, both nationally and globally. The research has identified the value of the UK search market at £853 million.
The research highlights the intense pressure the executive search market has come under during the recession through reduced demand, pressure on margins and on factors such as more procurement involvement in contracts, more clients hiring their own their own internal search resources and greater use of technology and social media.
The next two phases of the research will gather data and insight from the clients and candidates so that the search industry can start to respond by improving standards and enhancing value creation. The business model for executive search is changing; clients expect more and candidates are not receiving the level of service anticipated.
Commenting on the research, Kevin Green, the REC’s Chief Executive, said: “This research signals the AER and REC’s intent to get seriously involved in executive search. As more search firms join, the AER and the REC will create a powerful voice about how to develop search firms so they can grow and add more value to their clients.
Derek Smart, Chair of the AER, said: “In the 15 years that I have worked within the Executive Search industry, I have not been aware of the total fee-earning market size, its main players or the impact of the sector within the whole recruitment industry. “This research is the first step to a greater understanding of the market. As the industry adjusts to the changes which are starting to reshape the search market, we can begin to direct our efforts towards the inevitable challenges which we will face.
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