| July 28, 2003 Hunt-Scanlon Forecasts Flat Growth for Executive Recruiting Industry In 2003; Firms Poised For Future Growth Stamford, CT, July 28, 2003 - After enduring one of the worst two-year periods ever in the history of the recruiting profession, the retained executive search industry has stabilized and is now poised for growth. According to Hunt-Scanlon Advisors, a market research firm and online information provider to the human capital and executive recruiting industries, fees for the search profession will be flat in 2003 and will then be followed by single-digit growth in the next several years as worldwide fees for retained and contingency search consulting reach the $16 billion mark in 2007. These projections appear in Hunt-Scanlon's recently released 2003 State of the Executive Search Industry report. "While we don't see search industry revenue levels reverting to the Internet era, there are several positive signs in the marketplace that provide a framework for healthy growth," said Brian P. Lee, chief market strategist at Hunt-Scanlon. "Improved corporate earnings, combined with staff reductions within corporate HR departments has created pent-up demand for human capital consulting tools such as executive recruiting. At some point we will experience an uptick in hiring activity since employers can no longer achieve further productivity gains with their existing workforce and therefore need to begin focusing on top-line growth." The majority of search firms polled in Hunt-Scanlon's annual industry report echoed this sentiment as they currently expect 2003 will be a year of flat to moderate revenue growth. In fact, 61 percent of the survey participants anticipate they will either add more search consultants or upgrade their existing talent pool in the next 12 to 18 months. Search industry projections, as well as key performance metrics on cycle time, fee structures and industry assignment mixture, appear in Hunt-Scanlon's 2003 State of the Executive Search Industry report. Click here to obtain further information on this report. ABOUT HUNT-SCANLON Hunt-Scanlon Corporation is a leading market research firm and online data provider to the executive recruiting and human capital industries. The firm publishes market intelligence, including: industry rankings, online research, real time electronic newswires, three monthly newsletters (Executive Search Review, Online Recruiting Strategist and Diversity Monitor), directories of executive recruiters and senior executives, online database products, and also provides advisory services. The firm's online recruitment portals for senior executives connect buyers and sellers of recruiting and human capital services worldwide. Hunt-Scanlon produces executive-level conferences on human capital management, senior-level recruiting, staffing technology, diversity and talent acquisition strategies for CEO's, senior human resource executives and recruiting professionals. Contact Information:
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