News Archive

15 de December de 2014

The Renaissance of the Executive Search profession

Cumbre_Europea_de_Executive_Search

 

The 18th European Conference of the AESC, Association of Executive Search Consultants, was successfully held in Madrid, with a great organization and participation from senior executives.

Renaissance was the central topic of the Conference. Certainly, in view of the data presented, the global turnover of the sector increased to USD 11bn, regaining the figures previous to the global economic crisis.

AESC was founded in the United States in 1959 and introduced in Europe in the late `90s. In Spain, there are 17 members admitted after a rigorous audit of good professional practice and adhesion to its code of ethics. Globally, their members are present in over 75 countries.

By sector, over 26% of the missions are performed for all kind of industrial companies. 21% for Financial services, 17% for Consumer / Retail, 13% in Technology and a further 13% in Biosciences / Health. It is remarkable the growing use of Executive Search services by non-profit or public organizations currently reaching 5% of the world total.

In a profession where our daily work involves executives’ careers, making them align with the diverse needs of clients (growth, profitability, diversification, turnaround, etc.), apart from remunerations, ambitions, frustrations, etc., it is increasingly necessary the insight of a consultant that provides value to the whole process. Despite high unemployment rates, it is surprising how the shortage of talent in many senior, specialized and international positions is still present and becomes crucial to “sell” the opportunity of a new challenge to an executive –whom at that time- may not be considering a change.

The Executive Search profession has been given up for dead on several occasions (internet, Linkedin, E-recruitment…) and has finally been reinforced. In short: if you can Google it, do not hire anyone to do so. Or from another viewpoint: in the long run, all jobs that machines can do will not be carried out by humans.

And a small personal reflection from Spain, considering the result of some appointments in public or semi-public organization: if registered executive search firms were to be used, the taxpayer would save money, rather than appointing fellows from the same college, public examinations, political party, etc. for key positions. Pope Benedict did it as one of his latest decisions and the current Ukrainian government is doing so too.