A RecruitSmart survey conducted by ExecuNet.com reveals most executive recruiters are anticipating a significant increase in assignments from clients following a disappointing 2001.
According to the survey, recruiters are forecasting an 18% increase in search assignments for 2002 when compared with 2001 - a year in which search firms reported a 17% decline in the number of assignments received from clients.
The top five industries expected to drive much of this executive demand include:
1. Biotechnology/Pharmaceuticals
2. Healthcare
3. Financial Services/Banking
4. High Tech
5. Manufacturing
ìAfter years of unprecedented revenue growth, 2001 was obviously a tough year for the search industry,î says Dave Opton, CEO and founder of ExecuNet.com. ìIn the first two months of 2002, however, we have noticed an increase in the number of assignments recruiters are listing. If this trend continues, recruiters, particularly those in the fastest growing industries, will see revenue growth return.î
Most recruiters anticipate the recovery will begin in the second (53%) or third (40%) quarters of 2002. Just 7% are expecting a significant increase in executive demand in the first quarter and 3% believe the turnaround will start in the fourth quarter. A small percentage (5%) of search consultants think the rebound will be delayed until 2003.
Results are based on a nationwide survey of 385 executive recruiters.
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