The globalization of the executive search industry in Europe
Lead Research Organisation:
Loughborough University
Department Name: Geography
Abstract
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Organisations
Publications
Beaverstock J
(2009)
Professionalization, legitimization and the creation of executive search markets in Europe
in Journal of Economic Geography
Daniels Peter
(2006)
Knowledge-Based Services, Internationalization and Regional Development
David Clifford (Co-Author)
(2007)
Research briefing 3 : maintaining the industry's success... tactics for renewing the profession
Faulconbridge J
(2009)
The 'war for talent': The gatekeeper role of executive search firms in elite labour markets
in Geoforum
James Faulconbridge (author)
Professionalisation and executive search : reality or rhetoric?
Jonathan Beaverstock (author)
Transnational headhunting and the orchestration of elite, executive labour markets in the world economy
Jonathan Beaverstock (author)
Labour market intermediation : professionalization and the contemporary European executive search industry
Rose Lindsey (Co-Author)
(2007)
Research briefing 2 : the contemporary consultant... managing flows of elite labour
| Description | By executing a multi-dimensional research design (mapping firm-office change, content and discourse analyses of firm materials, and interviews with headhunters in Europe and the main professional bodies), we have generated three main results. 1. The globalization of Europe's executive search industry. (i) For the 30 largest firms, the total number of offices in Europe grew from 40 in 1980 to 870 by 2006, and this expansion occurred in three distinctive time-waves: 1980-1990, into key European capital cities; 1990-2000 into leading regional cities in Western Europe (e.g. Cologne); and post-2005, expansion into Eastern Europe (e.g. Prague). (ii) We have revealed the different ways the owned, network and hybrid firm forms were used to facilitate the expansion of executive search in Europe. (iii) We have showed that particular strategies are influenced by whether the firm is public (market-listed) or a private partnership, where the latter describes their search and selection techniques using metaphors of efficiency, rationality and scientific, and the former often promotes their professionalism, tacit skills and bespoke services with less emphasis placed on the development of aligned economies of scale. (iv) We revealed that degrees of local adaptation are significant because of the diverse national contexts for executive search in Europe. (v) We revealed that cultural-economic explanations are needed to fully explain the success of firms and the expansion of the industry into Europe as certain 'iconic individuals' and 'brand leaders' were highly-influential in the globalization of executive search in region. 2. The 'intermediary' role of executive search firms in elite, executive labour markets (i) By the early 2000s the role of executive search firms in the recruitment of elite executives has become institutionalised and an expected practice in Europe. Clients now range all private and public sectors of economy. (ii) Search firms now define who classifies as 'elite talent', thus determining the mobility potential of an individual in elite labour markets. We revealed that headhunters produce a model of the 'ideal candidate' and that this is innately geographical and exclusionary. (iii) The discourse of the headhunting three-way relationship (where clients buy into the need for headhunters, and where headhunters act as gatekeepers to elite labour markets for candidates who see search firms as a legitimate way to get a new job), are more sophisticated than many existing analysts suggest. 3. The regulatory nature of the executive search industry in Europe (i) The formal regulatory environment of the industry only exists in an indirect, self-regulatory sense, being regulated primarily by its professional associations. The Association of Executive Search Consultants 'regulates' the firm. The Executive Researchers Association (ERA) 'regulates' the individual. Both organizations operate worldwide, have low barriers to entry and are not guided by any one national legal regime. (ii) The 'regulation' of executive search is best understood through debates about the nature of the industry as a 'profession'. We conceptualise executive search as a 'new' profession as there entry is not formally restricted based on qualification or experience. Instead, firms view 'professional' status as something defined by the behaviour of staff and the knowledge-base of in-house search and selection methodologies. (iii) Legitimising the work of executive search firms continues to be difficult compared, for example, with the work of lawyers or accountants. Headhunters are, therefore, developing a model of the 'professional' persona and organization they wish to display so as to foster trust with clients and develop their European operations. |
| Exploitation Route | (i) The project has widened the theoretical discussions about the knowledge economy and encouraged critical engagement with contemporary ideas and discourses on globalization, organizational strategy, professional services, 'new professions' and 'professionalization'. (ii) The project has helped to broaden theoretical discussions of firms and individuals as labour market intermediaries. (iii) The project has generated new time-series data sets on executive search firm office change in Europe and the A8 countries of the EU, from 1980 onwards. (i) the research findings can inform the private and public sector of the value and use of executive search in labour recruitment; (ii) the research can inform policy makers of the significance of talent management in the knowledge and informational economy; (iii) the research can inform: executive search firms of internationalization strategies; whose who use executive search companies, the clients, of the benefits of executive search; and, the candidates, those searched, of the opportunities/pitfalls of engaging with 'third parties' in job search and hiring. (iv) the research can inform professional bodies of the opportunities and challenges of regulation and professional closure. |
| Sectors | Creative Economy,Digital/Communication/Information Technologies (including Software),Financial Services, and Management Consultancy |
| Description | The outputs have been used by the academic community, key industry actors and associated professional/trade bodies. |
| First Year Of Impact | 2007 |
| Sector | Financial Services, and Management Consultancy,Other |
| Impact Types | Economic |