Executive Search Services Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 10/21/2024
SIC Codes: 7361
NAICS Codes: 561312
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Executive Search Services Industry Profile

Companies in this industry search, recruit, and place executives and senior managers for business and government clients. Major companies include Heidrick & Struggles International, Korn Ferry, Spencer Stuart, and Russell Reynolds (all based in the US), as well as Egon Zehnder (Switzerland) and The Caldwell Partners International (Canada).

The global executive search services industry generated an annual revenue of about $40 billion in 2022, according to Statista. Many large executive search companies serve clients worldwide and have offices in numerous countries. More companies are seeking experienced executives who can operate effectively on a global scale, driving growth for the industry. North America remains the top market for the industry, followed by the Europe/Middle East/Africa (EMEA) region, the Asia/Pacific region, and Latin America.

The US executive search services industry includes about 6,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $7 billion.

COMPETITIVE LANDSCAPE

Job growth drives demand for the executive search industry. The profitability of individual companies depends on good marketing, development of a loyal client base, and effectiveness at identifying and recruiting qualified candidates. Large firms, especially those with an international footprint, can take advantage of multinational corporations’ need to find qualified executives worldwide. Small companies can compete successfully by specializing in recruiting for an industry or a job function. The US industry is fragmented; the 50 largest firms account for about 40% of revenues.

 
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