U.S. Executive Search (Headhunting) Market Size By Type (Retainer Firms, Contingency Firms), By Application (Industrial, Healthcare, IT), And Forecast

U.S. Executive Search (Headhunting) Market Size And Forecast

U.S. Executive Search (Headhunting) Market size was valued at USD 6,350.7 Million in 2023 and is projected to reach USD 9,806.3 Million by 2030, growing at a CAGR of 6.28% from 2024 to 2030.

There are several drivers and trends, that are reshaping the executive search industry. Technology integration, particularly artificial intelligence (AI) and data analytics is revolutionizing how executive search companies locate, evaluate, and interact with potential candidates. The U.S. report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

U.S. Executive Search (Headhunting) Market Definition

Executive search (headhunting) is are recruiting service that helps businesses in locating and selecting the top executive talent they require. Executive recruiters, usually referred to as professional headhunters, are employed to find and evaluate applicants for senior roles inside an organization. To discover the best applicant for the position, the procedure includes investigating businesses and sectors as well as focusing on a specific group of people. Before offering a candidate to a hiring business, headhunters will get in touch with them to learn more about their qualifications. They will then offer input on the applicant’s suitability for the position, assisting businesses in selecting the best candidate. Executive search, often known as headhunting, is a specialized sector that calls for an understanding of the business and proficiency in recruiting services to ensure effective appointments.

U.S. Executive Search (Headhunting) Market Overview

The executive search industry, also known as “headhunting,” focuses on finding, assessing, and placing top executive talent into organizations across many industries. The Executive Search (Headhunting) Market is positioned for tremendous development and evolution as the global corporate environment rapidly changes. Given the multinational character of the corporate world today, executive recruitment is fundamentally global. Regardless of their size or sector, organizations understand the value of having visionary and competent leaders to lead them through difficult situations and exciting possibilities. As a result, executive search firms work on a worldwide scale, seeking talent from various geographic regions to meet their client’s changing demands in terms of leadership.

There are several drivers and trends, that are reshaping the executive search industry. Technology integration, particularly artificial intelligence (AI) and data analytics is revolutionizing how executive search companies locate, evaluate, and interact with potential candidates. Candidate matching is improved by AI-powered algorithms, and data-driven insights guide strategic hiring choices. Building diverse leadership teams that represent the backgrounds and viewpoints of a global workforce is becoming increasingly important. To assist organizations in achieving this aim, executive search companies are putting more and more emphasis on DEI activities. For leadership positions, many sectors, like technology and healthcare, are severely short on talent.

To fill these personnel gaps, executive search agencies discover top executives who have the necessary specialized expertise. However, in some industries, finding competent executive talent is still difficult, which has created rivalry among search agencies. Search businesses must address ethical issues including the proper use of AI in applicant selection and the reduction of biases in the hiring process. Faster placements, a variety of applicant pools, and strategic insights are just a few of the things that organizations now want from their executive search partners. Many organizations are competing for customers and the best candidates in the fiercely competitive executive search market.

Success requires specialization and distinction. Nevertheless, industry experts are optimistic about the future of executive search. The requirement for visionary leadership becomes more and more important as organizations continue to struggle with the complexity of a world that is changing quickly. In addition to candidate discovery, executive search companies are becoming strategic talent partners by providing data-driven insights, DEI expertise, and advising services. The industry’s expansion will be fueled by the incorporation of technology, a dedication to diversity, and moral hiring procedures.

U.S. Executive Search (Headhunting) Market Segmentation Analysis

The U.S. Executive Search (Headhunting) Market is segmented on the basis of Type and Application.

U.S. Executive Search (Headhunting) Market, By Type

• Retainer Firms
• Contingency Firms
• Others

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Based on Type, the market is bifurcated into Retainer Firms, Contingency Firms, and Others. Retainer Firms accounted for the largest market share of 48.93% in 2022, with a market value of USD 2,908.17 Million, and is projected to grow at a CAGR of 6.70% during the forecast period. Contingency Firms was the second-largest market in 2022, valued at USD 2,328.84 Million in 2022; it is projected to grow at a CAGR of 5.99%.

U.S. Executive Search (Headhunting) Market, By Application

• Industrial
• Healthcare
• IT
• FMCG
• Retail
• Automotive
• Others

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Based on Application, the market is divided into Industrial, Healthcare, IT, FMCG, Retail, Automotive, and Others. Industrial accounted for the largest market share of 26.08% in 2022, with a market value of USD 1,550.12 Million and is projected to grow at a CAGR of 6.12% during the forecast period. Healthcare was the second-largest market in 2022, valued at USD 1,175.04 Million in 2022; it is projected to grow at a CAGR of 7.16%.

Key Players

The “U.S. Executive Search (Headhunting) Market” study report will provide valuable insight with an emphasis on the market. The major players in the market are Korn Ferry, Heidrick & Struggles International Inc., Egon Zehnder, Spencer Stuart, Hays, Russell Reynolds, Randstad, Manpower Group, Boyden, Transearch International, Signium, and MRI Network (Acquired by HireQuest Inc. ).

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis.

Key Developments

• January 2023Korn Ferry disclosed that it had already signed a binding contract to acquire Salo, LLC.
• April 2021Heidrick & Struggles International, Inc. announced it has closed the acquisition of Business Talent Group (BTG), a leading marketplace for high-end independent talent on demand. With this acquisition, the company becomes the first global leadership advisory firm to offer the full spectrum of executive and high-end talent solutions – from on-demand, independent professionals to interim executives to permanent placements.

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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