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In its second quarter report on the worldwide executive search industry, data from the Association of Executive Search Consultants (‘AESC’) indicates quarter-on-quarter revenue growth of +9.1% and a year on year growth of +11.2%. The number of search assignments have also increased by +4% from Q2 2013 to Q2 2014, representing a reversal in the recent trend of fewer assignments albeit of greater value.
Sector trends highlighted particular growth in the number of new searches started within the Industrial sector, up +15.2% quarterly from Q1 2014 to Q2 2014 and +5.9% yearly from Q2 2013 to Q2 2014. Life Sciences/Healthcare also saw positive quarterly (+5.3%) and yearly growth (+1%) in new executive searches.
The EMEA, Asia Pacific and North American regions all recorded strong annual and quarterly growth, while the Central and South American region recorded a drop in quarterly activity of -1.6%.
AESC President Peter Felix commented: “It is very encouraging to see continued improved demand for senior executives both on a regional and sector basis. This positive trend is indicative of economic recovery in the major economies of North America and Europe and the desire by Boards of Directors and top management to more actively engage in the search for the best talent to achieve growth and strategic development. We expect this positive trend to continue as the emerging markets of the world enjoy faster economic growth, and competition for the best executives gathers pace.”