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RECRUITMENT NEWS: UK executive search industry Net Fee Income up for third consecutive year!
Friday, August 8th, 2014 @ 09:51 am
Activity in the UK executive search industry is continuing to rise for a third year according to the latest annual report from Executive Grapevine (EG).
The Board & Leadership Market Report shows that the Net Fee Income (NFI) growth in executive search has risen by 8.5% like-for-like. This is the third consecutive year of growth for the industry.
Hiring for top roles paying £200,000 or above has seen double digit growth of 18.9%.
The report independently ranks the country’s leading firms, based on their NFI, across the sectors of: Board Search; Industrial; Consumer, Media & Healthcare; Technology & Telecoms; Pharmaceuticals & Life Sciences; Government & Not-For-Profit; Professional Services; Financial Services (FS); Global Banking & Markets and Retail Financial Services & Insurance.
Helen Fish, CEO of Executive Grapevine, says: “As organisations recover from the economic crisis, a surge of confidence seems to be carrying through to nearly every sector. Clients have come to accept search firms as an essential part of the hiring process whether they are sourcing leaders from within their own organisations or externally.
“The scrutiny facing corporate boards in their hiring processes means that the external perspective and knowledge a headhunter brings to the hiring of board members is essential. Very few board role hires, especially within listed companies, take place without using a headhunter.
“The role of the headhunter is as much about benchmarking, identifying potential leaders and ensuring that the right people come through within an organisation as it is about bringing on board external world class leadership.
“The effective use of the in-house recruiter has largely been for experienced hires. Competition between search firms and in-house recruiters is fierce in this area, especially within financial services and technology. However, the landscape is completely transformed when dealing with the board and roles above £200,000, where the difficulty of finding and moving talent, coupled with the increasing requirements of corporate governance, means headhunters now dominate placement at this level.”