Executive search consultants are dying out! This is the thesis of numerous discussion forums and expert articles in the industry. The various innovations in the field of recruiting should lead to companies increasingly establishing their own HR competencies in the future and thus being less (or even no longer) dependent on external HR consultants and executive recruiters.
But that is only half the truth. It is precisely these recruiting innovations that make external executive search consultants all the more indispensable.
Why? Let us take a brief look into the future.
Not the industry is changing, but the environment
It is obvious that the executive search consulting industry is currently undergoing rapid change. Nevertheless, it is not really the industry itself that is changing.
Instead, numerous developments are taking place in its environment and among companies, which in turn are having an impact on the headhunting industry:
- Recruiting is evolving rapidly due to digitization and is migrating to new channels like social media.
- Demographic change is driving the shortage of skilled workers. For companies, this poses new challenges to their employer branding and recruiting strategies in order to find, attract and retain sufficient highly qualified specialists.
- However, Generation Y, also known as “digital natives”, brings with it changed values and desires. They can no longer be lured by companies by means of material values. Rather, they are looking for meaning in their work, for a good work-life balance, personal responsibility, flexibility and a good work-life balance.
- The trend is away from long-term employment relationships towards frequent job changes and “patchwork” resumes. Companies must therefore become more flexible and develop more creative strategies to strengthen the loyalty of their employees as well as the employee-employer bond.
- The competition for skilled workers is becoming increasingly fierce. Professional recruitment and retention must be completely redefined, re-structured and established in many companies.
- The classic “Post and Pray Recruiting” and the simple job advertisement in the daily newspaper have had their day. Recruiting is becoming more and more of a challenge that can only be mastered with the perfect mix of know-how and creativity.