SpendEdge Forecasts a Spend Growth of over USD 3 Billion for the Headhunting Services Industry
LONDON--(BUSINESS WIRE)--Nov 20, 2019--
SpendEdge, a global procurement market intelligence firm, has announced the release of its Global Headhunting Services Industry - Procurement Intelligence Report.
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Global Headhunting Services Industry Procurement Intelligence Report. (Graphic: Business Wire)
While organizations are expanding their geographic footprint, the growing scarcity of skilled labor is casting a telling impact on the productivity of such organizations. This is creating an urgent requirement for professionals who can scale up to the newer and unique business needs. Such a requirement is driving large-scale cross-border executive recruitments and will serve as one of the primary growth drivers in the global headhunting services industry. It is expected to drive the spend momentum in this industry at a CAGR of more than 4% between 2018-2023.
“ Stark decline in the corporate tax rates is enabling government, construction, financial services, healthcare, and professional services companies to expand their business locally and generate job opportunities in the US. This will work in favor of the spend growth in the headhunting services industry in the US,” says SpendEdge procurement expert Anil Seth.
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Despite predictions of spend growth, dynamism in the service price structure in this industry will render procurement complex and costly for buyers.
What do the headhunting services price trends indicate?
- The price of headhunting services is expected to increase during the forecast period majorly due to the trend of outsourcing recruitment for CxO positions to capitalize on the resources and networks of leading headhunting service providers.
- Focus on reducing TAT and enlarging the customer base will drive suppliers to invest more in technologies such as ATS, predictive analytics, and cloud-based marketing platforms. This will have an inflationary impact on the procurement price in the headhunting services industry.
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What are the scopes of optimizing procurement spend in the headhunting services industry?
Strategic supplier selection is the key to optimizing procurement spend in the headhunting services industry. In view of this, this report has enlisted the key suppliers selection criteria, the leading supplier names, the SLA terms, among others that will aid buyers to make the most of their partnership and achieve cost-savings during the contract tenure with the suppliers.
- It is advised that buyers secure replacement guarantee from the headhunting services suppliers to repeat executive search at no additional cost. The industry standard for replacement guarantee can vary from six months to one year. Any commitment by the supplier that is not within the limits of industry standards is indicative of the low quality of search processes and the non-suitability of candidates supplied.
- It is crucial for buyers to ensure that suppliers do not have any prior engagements with their competitors. Buyers can use suppliers’ off-limit restriction details to identify such information.
Try before you buy this report. Download the free sample of this headhunting services industry procurement intelligence report and know how insights and strategies recommended in this report will add value to your business.
Some of the key topics covered in this report are:
- Headhunting services market spend segmentation by region
- Total cost of ownership analysis in the headhunting services market
- Regional spend opportunity for headhunting services suppliers
- Headhunting services suppliers cost structure
- Headhunting services suppliers selection criteria
- Headhunting services suppliers under coverage
- Procurement best practices
- Category management objectives
- Cost saving opportunities in the headhunting services market
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PUB: 11/20/2019 09:47 AM/DISC: 11/20/2019 09:47 AM