Jun 15 2010
BlueSteps: What happened to executive search in Spain during the Recession of 2008-2009?
Luis Truchado: "Executive Search in Spain has suffered from the crisis and recession as have the vast majority of other countries across the world. 2008 saw hiring slow down, but in our view, negative effects were even more remarkable in 2009."
BlueSteps: In Terms of executive hiring, what is happening in Spain right now?
LT: "Many companies and organizations are in sleep mode. They are awaiting some good news (labor reform, stock markets, debt reduction, or elections, etc.) that can recover confidence in order to undertake executive search projects that are currently frozen."
BlueSteps: What do you think is on the horizon for the rest of 2010 and beyond in Spain?
LT: "The second half of the year will depend on the news that takes place and the confidence generated. In addition, the re-launch of the U.S., Germany, UK, etc., will fuel improve global markets as a whole and spur executive search in Spain."
The stalling of hiring due to market conditions is a very problematic situation - without hiring new executive talent, organizations will be less able to implement innovative strategies to navigate through the extended effects of the economic downturn. The caution however, is certainly justified. As Herman Van Rompuy, president of the European Union recently told the Financial Times, ‘the markets are sanctioning bad policies, sometimes excessively, disproportionately and based on rumours and prejudices’. The same rumours and prejudices that are sending the markets into fluctuations are greatly affecting business strategy and confidence in hiring new executive talent. In such a volatile environment, it is understandable that adding to labour costs is a decision being stalled - albeit not necessarily the correct way to secure long and short-term success.
Executive Jobs in Spain and Worldwide
Luis Truchado’s uncertain outlook for the immediate future suggests that senior executives currently in transition or searching for executive jobs in Spain should widen their search. Of course hiring is still occurring and there will always be organizations opening new executive positions Spain, but making yourself globally accessible will increase your ability to land an executive job that truly fits your career goals, rather than compromising due to location (easier said than done with family etc.).
Executive search in Spain relies on the stabilisation of international markets and hopt that business leaders will gain confidence in a sustained recovery period. However, the outlook across the executive search market worldwide is fairly positive - the AESC mid-year executive search industry outlook is positive according to the majority of consultants, with confidence rising 11% from the start of 2010. The findings released today by Association of Executive Search Consultants (AESC) reveal that 67% of search consultants expect to see revenue growth in the second half of the year, while 27% predict revenues will stay the same. In total 94% are confident that they will see no decrease in demand for the remainder of the year.
Habla español? Más información sobre Executive Search en España.
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