With almost 25 years of experience in retained executive search, I am often asked about what we are seeing in the market and what I expect to see moving forward. I feel as though I can speak for the search industry, not just McDermott + Bull, as I have relationships with many individuals across our various global search competitors. In this piece, I summarize what we’ve seen in the executive recruiting space over the last 24 months and make predictions for 2023.
As I believe most are keenly aware, what we have experienced with executive recruiting over the past two years has been historic in nature. Most firms within the search industry have been at or, in many cases, over capacity since Q4 2020.
The drivers for this activity include:
Some changes we should expect to see in 2023 are:
I’m always available to discuss what’s been presented here. We should feel fortunate that – with all of the readily available information shared by professional economists – the outlook for the 2023 American marketplace is something we can all digest and navigate. Here’s to the close of 2022. We wish you the best over the holiday season, and throughout the year ahead.
Co-Founder + Managing Partner
Chris brings over 20 years of experience in retained executive search. He has a strong track record of success partnering with client organizations to deliver best-in-class talent with private and public companies, private equity firms, and their operating companies. As a trusted advisor to the clients in which they serve, McDermott + Bull has become one of the fastest-growing executive search firms in North America with offices located both domestically and internationally.