- The global headhunting services market to grow at a CAGR of more than 4% by 2020 owing to the growing need for suitable executive talent.
Procurement market intelligence analysts have announced the latest market research report on headhunting services for the period 2016-2020. This market analysis discusses the major drivers and key emerging trends that will influence the growth of the global headhunting services market during the forecast period. Some of the key vendors in this market include Korn Ferry, Spencer Stuart, Egon Zehnder, Russell Reynolds Associates, and Heidrick & Struggles.
In terms of geographical analysis, Europe accounts for over 43% of the global market revenue, with the UK being the major revenue generator. Much of the market’s growth is due to economic importance of London which has augmented the demand for headhunting services to meet the requirements across industry sectors.
Click here to request a free sample of this report
According to Angad Singh, a category specialist at Technavio for research on category spend intelligence, “The global demand for headhunting services is expected to increase during the forecast period due to the growing business activities. The requirement for executive talent and specialized positions in the emerging countries such as China and India is high due to the expansion of businesses by large international firms worldwide. Moreover, the demand for cross-border executive search is also increasing, thanks to the growing need for high-quality leadership and the growth of global businesses.”
For report customization, click here.
The headhunting industry witnessed an increase of around 28% in global revenue by 2015 due to high adoption of efficient assessment and screening processes by suppliers that help in identifying passive candidates that are appropriate for the positions they are hiring for, but are not actively looking out for a change. Increase in online presence of candidates has made it easy for headhunters to access both active and passive candidates, resulting in an increase in the use of social networking platforms for identifying suitable talent.
The headhunting market is witnessing rapid changes in its operating model. Vendors are adopting latest technologies to improve operations, and are employing proprietary assessment tools to assess and identify suitable candidates. The headhunting market is witnessing organic engagement between end-users and players. Such kind of engagement enhances recruitment efficiency by lowering TATs. The headhunting service providers have adopted a result-oriented approach of processes, especially while hiring candidates for senior-level positions. Headhunters are also in demand as they can fulfill difficult requirements such as confidential searches and cross-border searches.
A more detailed analysis is available in the procurement market intelligence report titled, ‘Global Headhunting Services – Procurement Market Intelligence Report 2016’.
