Don Patrick of Sanford Rose Associates–Norcross Featured in “Recruitment: Firms Get Fewer, Complex Cases”
10/29/2013 | Dallas, Texas
By Katjusa Cisar, Contributing Writer
Less work isn’t necessarily less work — or revenue — in the executive search industry. As companies hire search consultants less and keep more searches in-house, the industry reported an 8.9 percent dip in the number of new searches started during second-quarter 2011 compared with second-quarter 2012. In the same period from 2012 to 2013, these numbers plummeted 11.5 percent.
At the same time, revenues have crept up.
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This leaves the independent search consultants competing for fewer, but increasingly more lucrative and challenging, jobs. The rise of social media has helped open up the playing field between in-house and independent searchers by dumping online an avalanche of information about potential candidates. “Some people know how to mine that, some people don’t,” said Don Patrick, president of Sanford Rose Associates – Norcross. More information than ever is available on senior executives in particular, he added.