Renaissance in Executive Search
By Jeff Herzog and Steve Margalit
When you combine the increasing number of baby boomers entering retirement, the ‘great resignation’ from Corporate America and the pervasive skills gap for highly technical job functions, our economy is left with a major talent shortage. Many companies are finding it more challenging than ever to identify and hire top talent on their own, often turning to specialists in Executive Search to build their teams. In our fast-paced, technology driven world from artificial intelligence (AI) to the easy access social media platforms, it’s the emotional intelligence (EI), and human touch of specialized Executive Recruiters that are getting the deal done.
Let’s face it, advancements in technology have been a threat to the recruiting industry since internet access became widely available in the 1990’s. On its face, it would appear that companies can have access to everyone they’ll ever need, but it’s rarely as easy as it seems. This isn’t to say that the technology isn’t useful. Knowing how to connect with their target audience through social media and other outlets has allowed recruiters to develop relationships with key players in their industry. Additionally, and accelerated by the pandemic, video calls more so than phone calls have strengthened those relationships and increased networks. Companies are once again recognizing how valuable it can be to lean on their recruiting partners’ relationships to close the deal.
Growing companies always align themselves with independent partners to handle certain aspects of their business, you know, “the experts”. From Accounting firms handling books and records, to Finance firms for banking and raising capital, to Law firms for all their legal needs. Executive Search firms, experts in identifying top talent, are an equally critical independent partner for companies when it comes to growing and building a strong team. In today’s job market, candidate demand is heavily outpacing supply. A staggering 10,000 baby boomers reach retirement age every day! Education trends have not prepared enough of the current labor force with the proper skills to fill these jobs. Aligning with an industry specialized Executive Recruiter who has deep networks to help fill critical roles gives you a massive advantage over your less prepared competitors.
In fact, within the FPC Community, 2021 saw a huge increase in demand for our work. FPC’s overall revenue increased 59.7%, and placements were up 66.3% as companies capitalized on existing relationships and developed new ones with our specialized Executive Search offices. As the hiring process re-invented itself throughout the various stages of the pandemic, with heavy preparation to meet the need, our offices have been able to deliver to their clients in a timely and effective manner. If January is any indication, this year looks to be a continuation of last year!
If you are building a team and need an FPC recruiter to partner with, we are here to help. If you’re looking for your next great role or want to learn more about building your own Executive Search firm within the FPC Community, YOUR time is NOW! What are you waiting for? Capitalize on the great renaissance we are witnessing. Take back control of YOUR work/life balance and YOUR financial future. To learn more, reach out to email@example.com to set up an introductory call.