Executive Search Industry on the Upswing, Sees Revenue Jump

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Things are looking up for executive search firms.

The first quarter of 2013 saw a 7% jump in the number of new executive searches started and a 28% increase in search industry revenues worldwide, according to the Association of Executive Search Consultants (AESC).

These results suggest a stabilization of demand for executive search services and an up-tick in overall revenues worldwide, AESC President Peter Felix told the press. As the American economy gets back on its feet, the more pronounced a shortage of executive talent becomes, according to Felix. Organizations are turning to executive search firms for help in replenishing this resource.

North America had the most regional executive search activity in the first quarter, according to the report. The growth in North America accounts for nearly 50% of the worldwide revenue for the search industry.

The biggest searches so far in 2013 include Industrial, Consumer, Financial, Technology, and Health Care searches.

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