More and more companies are realizing the benefits of using retained executive recruiters from search firms to fill a variety of positions, including senior executives and other essential corporate positions. According to a report released by the Association of Executive Search and Leadership Consultants, North America has experienced an increase of 11.3% for executive searches.
In 2013, for example, 5.9% of the companies surveyed reported that they utilized recruiting services for their external hires. In addition to being nearly double the amount of positions filed through recruiting firms during 2012, it also represented the most positions filed by this means in over 10 years.
Due to utilizing recruiting services, it took the following average time periods to fill these types of positions:
- Temporary: 6 days
- Contract: 8 days
- Permanent: 32 days
There are other signs that growth is occurring within the executive search field. The increase in agency workers, which includes both retained executive recruiters as well as contingent recruiters, has demonstrated this. According to the most recent data released from the U.S Bureau of Labor Statistics, there were 41,400 individuals employed within this field. Given that a few years have passed since this data was released, it is likely that there are even more recruiters employed by various agencies.
In 2013, the primary sources for qualified candidates came from a pool of existing applicant tracking systems along with referrals and social media platforms. The results of a 2014 survey, however, showed that 71% of employers in various sectors experienced a shortage of skilled candidates. This was a slight decrease from 2013, when they experienced a 76% shortage.
Contingent and retained executive search firms can provide a variety of valuable services to employers in various industries. They can providing recruiting services for these and other types of positions within the public and private sectors:
- Internet of Things
- Military transition
- Sales and marketing
- Solutions architects
- Technical service engineers
If you have skilled positions that need to be filled, consider the benefits of working with a recruiting firm. In addition to screening applicants on behalf of your company, they will also be able to streamline the overall hiring process.