Europe Executive Search (Headhunting) Market Size By Product(Retainer Firms, Contingency Firms, Other Firms), By Application(Industrial, IT, FMCG, Healthcare, Automotive, Retail), By Geographic Scope And Forecast

Europe Executive Search (Headhunting) Market Size And Forecast

Europe Executive Search (Headhunting) Market size was valued at USD 4.862 Billion in 2024 and is projected to reach USD 11.551 Billion by 2031, growing at a CAGR of 10.46% during the forecast period 2024-2031.

The booming IT and telecom industry and the adoption of Executive Search (Headhunting) solutions are fueling the market growth. The Europe Executive Search (Headhunting) Market 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.

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Europe Executive Search (Headhunting) Executive Summary

Executive search (headhunting) is a sort of specialist recruitment that involves luring highly skilled senior management personnel to an organization. It mostly entails hiring for jobs like CEO, CFO, HRD, CIO, and COO. Executive search, often known as recruiting recruiters, may specialize in a given industry and have skill in locating market-leading or difficult-to-fill talent. It is often referred to as the proactive method. It does not use standard methods to find candidates, particularly junior candidates. Employers approach the firm with the need for senior or highly skilled talent and the professional focus solely on the placement. The recruiter searches for possible candidates based on talent and character as specified by the customer.
The Europe Executive Search (Headhunting) Market is segmented into three major classes, Retainer Firms, Contingency Firms, and Other Firms, based on product. The Retainer Firms segment is holding the largest share of the market due to higher demand. However, the Contingency Firms segment is growing with the highest CAGR of 13.71% during the forecasted period. Moreover, the Europe Executive Search (Headhunting) Market is segmented into seven application segments, Industrial, IT, FMCG, Healthcare, Automotive, Retail, and Others. The Industrial segment is holding the highest market share of 30.09% in 2021. While the IT segment is growing with the highest CAGR of 13.89% during the forecasted period.

The Europe Executive Search (Headhunting) Market is witnessing significant growth owing to various driving factors such as growing recruitment of executives and senior-level personnel, growing demand for Executive Search (Headhunting) software, and potential benefits of Executive Search (Headhunting), among others. Executive Search (Headhunting) software is simple to source candidates and clients from many sources directly into executive search software. The software can parse resumes from emails, send emails, and request updated resume versions. Executive Search (Headhunting) software offers a convenient interface to client companies; thus, the demand for the software is growing during the forecasted period. With many capabilities, it manages candidates, clients, resumes, emails, and everything in between effectively and efficiently.

However, certain drawbacks of executive search services, data security issues, and the rest of other factors might strangle the growth of the Europe Executive Search (Headhunting) Market over the forecasted period. Moreover, the booming IT and telecom industry, a higher number of recruitment start-ups across the region, and other factors are creating new opportunities for the Europe Executive Search (Headhunting) Market to grow soon.

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Europe Executive Search (Headhunting) Market Outlook

The booming IT and telecom industry and the adoption of Executive Search (Headhunting) solutions are fueling the market growth. Information technology and the telecom industry is booming due to rising demand across different industry verticals including retail, entertainment, education, and healthcare, amongst others. Also, the pandemic outbreak had been a catalyst in the growth of the IT industry. The industries such as manufacturing, retail, education, and the rest of the others were severely impacted by the pandemic, on the other hand, the IT companies managed their success through distributed IT development, remote IT operations, and remote maintenance.

Furthermore, growing industrialization and developments in various industries such as IT, Healthcare, Automobile, and the rest of others are driving the growth of employment around the European continent. Out of total employment, senior level employment is higher across the European industries as compared to the lower level one. European industries are offering lots of potential opportunities for EU as well as international candidates. Thus, growing percentage of the European population employed at senior levels is fueling the growth of the Executive Search (Headhunting) Market across Europe. Executive Search (Headhunting) software is simple to source candidates and clients from many sources directly into executive search software. The software can parse resumes from emails, send emails, and request updated resume versions. Due to various advantages over on-premises software, the demand for cloud-based Executive Search (Headhunting) software is rising. Cloud-based Executive Search (Headhunting) software allows enterprises to utilize the virtual technology hosted by the service provider offsite. Cloud-based Executive Search (Headhunting) software provides enterprises access to applications anytime and anywhere. It is affordable and doesn’t require upfront costs. Furthermore, monthly payment packages include software licenses, maintenance and support services, upgrades, support, and daily back-ups. Moreover, Executive search (headhunting) offers easy access to an extensive database of candidates in the job market. Executive search firms focus on those specific areas, devoting effort to networking and marketing to build a large database of highly qualified applicants. And, because they have access to high-level industry contacts, they can cast a wide net, reaching candidates who would otherwise be unaware of the post.
Furthermore, the Executive search (headhunting) services are carried out with the application of a comprehensive process to pick the right candidate who can perfectly match the position. An executive search agency conducts extensive interviews with key stakeholders before the commencement of the recruitment process to determine the culture of an organization and the assignment needs. This data is then combined into a profile, which specifies the personality traits and talents to look for in candidates. The search agency produces bespoke interview questions based on the candidate’s profile to screen for the appropriate skills and qualities. Organizations can avoid selecting applicants whose culture does not mesh with the organization or the community it serves by engaging in such a thorough process.

Moreover, Executive search (headhunting) services offer various lucrative benefits to organizations. However, some drawbacks of the services might strangle the growth of the Europe Executive search (headhunting) Market during the forecasted period. Moreover, headhunting services are not free, the corporation must measure the cost required to pay for headhunting firms. Perusing hundreds of CVs can be a time-consuming activity that is not a beneficial use of time. Head hunters will undertake a lot of the work, saving companies time, and a better quality recruit can enhance profitability in the long run.

Europe Executive Search (Headhunting) Market: Segmentation Analysis

The Europe Executive Search (Headhunting) Market is segmented on the basis of Product, Application, and geography.

Europe Executive Search (Headhunting) Market by Product

• Retainer Firms
• Contingency Firms
• Other Firms

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Based on Product, the market is segmented into Retainer Firms, Contingency Firms, Other Firms. The Europe Executive Search (Headhunting) Market is experiencing a scaled level of attractiveness in the Product segment. The Retainer Firms segment holds the highest share of the global market in 2021. It is anticipated to account for the highest market share by 2030. Retained search firms operate on a “retained basis,” which means that the client pays the recruiter up front for the search to be conducted. This kind of executive search firm works exclusively, so the recruitment firm will be the only one to fill the position. For each position, retainer firms conduct a thorough executive search and present the company with a short list of candidates before the start of interviews. Retained search, also known as “headhunting,” is a proactive recruiting strategy. This indicates that the majority of candidates are not actively searching for jobs because they are already employed in similar positions. In this kind of executive search, the client and consultant work together to identify the best and most qualified candidates

Europe Executive Search (Headhunting) Market by Application

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

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By the basis of Application, the market is segmented into Industrial, IT, FMCG, Healthcare, Automotive, Retail, and Others. The Industrial holds the highest share of the global market in 2021. It is anticipated to account for the highest market share of 23.97 % by 2030. Furthermore, the Retail and Healthcare segment is also growing at the fastest pace. The industrial sector is arguably one of the most dynamic and difficult business environments in the world. For many multinational corporations, finding, luring, and keeping top leadership talent in this field continues to be a top priority. The emergence of this sector, the scaling of business, and the new industrial trends all call for very different types of executives. To guide your business into the future, these new leaders must possess a set of specialized, distinctive, and futuristic skills. A wide range of economic activities involved in the creation of goods and services are included in the industrial sector, from obtaining raw materials (metals/mining) to manufacturing, distribution, and construction. Finance, strategic sourcing, skilled tradespeople, sales and marketing, and logistics are just a few of the many areas covered by recruiters for industrial firms

Europe Executive Search (Headhunting) Market by Geography

• Germany
• U.K.
• France
• Spain
• Italy
• Switzerland
• Portugal
• Rest of Europe

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On the basis of regional analysis, the Europe Executive Search (Headhunting) Market is classified into Germany, U.K., France, Spain, Italy, Switzerland, Portugal and Rest of Europe. The Europe Executive Search (Headhunting) Market is experiencing a scaled level of attractiveness in Germany. Germany has a prominent presence and holds the highest share of the global market. It is anticipated to account for the highest market share by 2030. The region is projected to grow at a CAGR of 6.24% between 2023 and 2030.

Europe is one of the significant regions driving the growth of the Executive Search (Headhunting) Market in the region. Europe has strong economies that can lead to increased capital investment capabilities across the market. The increasing adoption of Executive Search (Headhunting) solutions is driving the growth of the Executive Search (Headhunting) Market in the European region. The adoption of Executive Search (Headhunting) solutions across different application industries around the region is growing as Headhunting offers various benefits. The application of Headhunting solutions across the industrial application is the highest accounting for a 30.09% share of the Europe market. However, the demand from the IT sector is growing during the forecasted period as the application across the IT sector is growing with the highest CAGR of 13.89%.
Also, the presence of prominent players including Egon Zehnder, Hays PLC, KPMG, Morgon Philip Group, and Alhambra International, amongst others are fueling the growth of the market across the region. Furthermore, many scholars and professional working people migrate to the continent for work purposes; driving the growth of the market. Therefore, the factors such as the presence of new start-ups, rising adoption of Executive Search (Headhunting), investments, rising number of immigrants including skilled workers, and higher employment rates across the region, amongst others are driving the growth of the Europe Executive Search (Headhunting) Market over the forecasted period.

Key Players

The major players in the market are; include Boyden, Alhambra International, EGON ZEHNDER, McKinsey & Company, Hays PLC, Morgon Philip Group, KPMG, Korn Ferry, Heidrick & Struggles International, Inc., Spencer Stuart, and amongst others. This section provides company overview, ranking analysis, company regional and industry footprint, and ACE Matrix.

? Company Market Ranking Analysis

The company ranking analysis provides a deeper understanding of the top 3 players operating Europe Executive Search (Headhunting) market. VMR takes into consideration several factors before providing a company ranking. The top three players for the Europe Executive Search (Headhunting) market are Korn Ferry, Heidrick & Struggles International Inc., and Egon Zehnder. The factors considered for evaluating these players include company’s brand value, product portfolio (including product variations, specifications, features and price), company presence across major regions, product related sales obtained by the company in recent years and its share in the total revenue. VMR further study the company’s product portfolio based on the product adopted or new strategies undertaken by the company to enhance their market presence globally or regionally. We also consider the distribution network (online as well as offline) of the company that helps us to understand the company’s presence and foothold in various Executive Search (Headhunting) Markets.

? Company Regional/Industry Footprint

The company’s regional section provides geographical presence, regional level reach, or the respective company’s sales network presence. For instance, Starbucks corporations has its presence i.e., in Germany, France, UK, Italy, Spain, Portugal, Switzerland, and Rest of Europe.
Apart from this, the industrial footprint section provides a cross-analysis of industry verticals and market players that gives a clear picture of the company landscape concerning the industries they serve their products. The product portfolio of the companies is classified in terms of their diversification as well as the number of products/services that are available. The geographic reach and the market penetration are determined considering the penetration of the company’s products and services in various geographical regions and industries.

? Ace Matrix

This section of the report provides an overview of the company evaluation scenario in the Europe Executive Search (Headhunting) market. The company evaluation has been carried out based on the outcomes of the qualitative and quantitative analyses of various factors such as the product portfolios, technological innovations, market presence, revenues of companies, and the opinions of primary respondents.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Europe Executive Search (Headhunting) Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

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