The mid-year executive search industry outlook is positive according to the latest findings recently released by the Association of Executive Search Consultants (AESC). The report indicates that the majority of consultants’ confidence has risen by 11% from the start of 2010. In fact, 67% of search consultants expect to see revenue growth in the second half of the year, while 27% predict revenues will stay the same. In total, 94% are confident that they will see no decrease in demand for the remainder of the year.

Nearly half the respondents plan to hire more consultants in the second half of the year, while 43% plan to maintain the same number of consultants.

China, India and Brazil are expected to see the greatest scarcity of talent in the latter half of 2010. Functions continuing to see the greatest talent shortage are Chief Executive, Chief Operating Officers and General Managers.

AESC President, Peter Felix, commented: “The latest results are indicative of an industry regaining strength following the downturn. Client organizations are beginning to think more strategically and are working with our member search firms to draw senior executive sourcing plans for the future. Once again there is talk of a talent shortage in certain industries and functions, even though unemployment levels remain high.  This is encouraging for candidates and our executive search consultants report that candidates are increasingly willing to consider career moves (from 21% in 2009 to 45% in 2010) despite concerns about market instability and the state of the economy.”

Healthcare/Life Sciences and Energy/Natural Resources are reported to be the strongest two sectors at the mid-year point and are expected to see the most growth in the second half of 2010, followed closely by the Industrial and Financial Services sectors.

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