Central Europe Executive Search Market Outlook 2024

This report calls on IIC Partners search consultants from five countries in Central Europe (Germany, Austria, Switzerland, Czech Republic and Slovakia) to discuss the executive search industry outlook, along with other HR trends.

Despite a challenging market environment characterized by high energy prices, elevated interest rates, and geopolitical risks, the demand for executive search services remains robust. This resilience is a testament to the indispensable role of executive search firms in identifying and developing leadership teams that can navigate such complexities. Additionally, there is an increased demand for interim management solutions to meet the high demand for skilled labor and this will continue to grow through 2024.

The integration of new technologies over the last year, especially AI and data analytics, has revolutionized many HR and recruitment processes, increasing efficiency and enhancing data-driven insights. The adoption of AI tools has begun at a measured pace in Executive Search organizations as many in the sector are rightly cautious about data privacy, bias in datasets, and retaining the relationship-based focus of our work.

However, as tools mature and data privacy guidelines and protections increase, our industry is set for an incredible transformation over the months and years ahead. As outlined in this report, the "human element" will always be firmly centered by our consultants as we adapt and innovate without compromising quality.

Diversity, equity, and inclusion (DEI) continues to be a central focus for HR leaders and many of our member firms are supporting client transformations in this space by advocating for diversity-focused recruitment strategies and launching new services and training. The adoption of agile-working methods, learning and development software, and employer branding tools are also taking center stage for HR departments.

When it comes to compensation, there has been a significant shift from focusing solely on high compensation to more creative, holistic approaches that place increased importance on non-monetary incentives and broader definitions of employee satisfaction.

This report offers insights into these dynamic trends, preparing us to navigate the uncertainties and harness the opportunities of 2024. As your trusted executive search and leadership consulting partner, we remain committed to guiding you through these evolving market conditions and ensuring the right talent is in place to lead your organization into an inclusive and sustainable future.

Read the full report here