Executive Search (Headhunting) Software Market: Introduction
- Executive search, also known as headhunting or executive recruiter, refers to an individual or company that provides services for recruiting and tracking qualified candidates for various senior positions across public and private sectors. It also includes finding talent and locating candidates who meet the specific job requirement. Recruiters operate within a particular sector for sourcing market talent. Executive search firms and employment agencies are all valuable tools in the job search arsenal.
- The COVID-19 pandemic is quickly changing how every organization is attracting, recruiting, and retaining employees on their virtual teams. Recruiting systems, applicant tracking systems (ATS), and talent management systems are used to recruit the right candidates during the pandemic outbreak as Human Resource Management (HRM) are facing problems of not being able to scale a right candidate.
- Furthermore, executive search (headhunting) software is an important tool as it helps various organizations or industries to select the right candidate for their company during the COVID- 19 crisis.
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Global Executive Search (Headhunting) Software Market: Dynamics
Global Executive Search (Headhunting) Software Market:
- Growing recruiting executives and other senior personnel for client companies in various industries is expected to boost the executive search (headhunting) software market.
- The rising need to meet current market demands such as specific knowledge of the area, and typically operate at the most senior level of executive positions is expected to drive the executive search (headhunting) software market.
- Growing usage of executive search (headhunting) software throughout the hiring process, conducting detailed interviews, and presenting candidates to clients selectively is expected to fuel the market.
- Growing adoption of cloud-based services, such as Artificial Intelligence (AI), and Machine Learning (ML) for executive search (headhunting) software is expected to drive the demand for the software, in order to find the highest quality matches for open positions in real-time. Machine Learning is helpful in pattern matching, which can save recruiters thousands of hours of drudgery by immediately spotting the highest quality matches for open positions.
- Slowdown of the hiring process during the COVID-19 outbreak, especially in service sectors such as BFSI, retail, and logistics, where a lot of frontline hiring takes place, is one of the factors restraining the executive search (headhunting) software market.
North America to Account for Major Share of the Global Executive Search (Headhunting) Software Market
- In terms of region, the global executive search (headhunting) software market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- North America is anticipated to lead the global executive search (headhunting) software market, due to rising number of open management positions and current executives continuing to move freely from one company to another. Besides, North America is expected to lead this market due to well established companies such as Korn Ferry and Spencer Stuart. These companies help clients by developing strategies and attracting suitable candidates that fit the cultural and professional characteristics of the business.
- The executive search (headhunting) software market in Asia Pacific is expected to hold significant share due to increasing number of job opportunities anticipated in the coming years. This in turn is expected to fuel the growth of the market across the region.
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Global Executive Search (Headhunting) Software Market: Competitive Landscape
Key Players Operating in the Global Executive Search (Headhunting) Software Market
Local, regional, and international players are active in the executive search (headhunting) software market. The market is highly consolidated, with top manufacturers accounting for approximately 35%–40% of the market share. Key players operating in the global executive search (headhunting) software market are:
- Agency Central Ltd.
- Alhambra International
- Edward Drummond & Co Ltd.
- Egon Zehnder.
- Heidrick & Struggles
- Korn Ferry
- Morgan Philips SA
- Odgers Berndtson
- Phoenix Executive bvba/sprl
- PRIM Software.
- Stanton Chase
- Starhunter GmbH
- Turbohire Technologies Pvt. Ltd
Global Executive Search (Headhunting) Software Market: Research Scope
Global Executive Search (Headhunting) Software Market Segmentation, by Component
- On- premise
- Training and Consulting
- Integration and Deployment
Global Executive Search (Headhunting) Software Market Segmentation, by Application
- Exploratory Meetings
- Sourcing & Analysis
- Candidate Evaluation
- Pre- Selection Process
- Evaluation & selection
- Offer Management
Global Executive Search (Headhunting) Software Market Segmentation, by End-user
- Government & Law Enforcement
- Life Science (healthcare, pharmaceutical, biotech)
- Media & Communication
- Human Resources
- Engineering & Manufacturing
- Property & Construction
- IT & Telecommunication
- Others (Logistic, FMCG, Sales, etc.)
Global Executive Search (Headhunting) Software Market Segmentation, Enterprise Size
- Large Enterprise
- Small & Medium Enterprise
Global Executive Search (Headhunting) Software Market Segmentation, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.