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The Association of Executive Recruiters (AER), the group within the Recruitment and Employment Confederation (REC) that focuses on the executive search market, has launched a major research project to identify 'the future of executive search'.
The first of a three phase programme brings together all the existing information about the state of the executive recruitment market, both nationally and globally. The research identifies for the first time the value of the UK search market at 853 million Pounds, a significant contribution to the UK's private recruitment industry.
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.
TNS Research International was commissioned to undertake the survey, which is sponsored by the AER and News International.