“The past few weeks have provided a sample of better news about the executive search profession. The market seems to be easing and most search colleagues I speak to assure me of a stronger pipeline, of management now taking decisions, of replacement and upgrading and of strategic thinking. In other words, management are now back in the driving seat and are confident enough to be taking critical, longer term decisions about their senior executive talent.

We are all aware that there has been a sea change and that the world post-recession will look unlike that pre-recession, at least for the foreseeable future. America needs to become a nation of savers, not spenders; China needs the reverse. Western financial institutions will be under the eye and thumb of the regulators until they mend their ways. Globalization has continued imperceptibly and as we surface from the gloom we find that the balance of power has changed: G7 to G20.

Going forward, many hiring companies will have cut too deep or will not have acted strategically, so the help of trusted advisers will be of great value to them. These advisers will come in the form of executive search consultants; not only by discovering the best executive talent, but consulting on where they should be placed. Therefore, as budgets are allocated for these crucial new positions, senior executives must ensure that they are building relationships with those who are in a position to fill these vast talent gaps.

As we begin to taste the new mood, my bet is that the tipping point has arrived.”

This is an edited version of AESC President Peter Felix’s letter to AESC Member Firms

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