Industry Statistics and Trends
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 2.4 % over the past five years, to reach an estimated £1.8bn in 2024.
Trends and Insights
Companies can handle their recruitment
- Social media and LinkedIn have transformed companies' ability to use their in-house HR recruitment teams, leaving external recruitment agencies out in the cold.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
M&A activity will continue to drive executive search activity
- Data from Brokerage house, Peel Hunt reveals the rate of M&A accelerated towards the end of 2023 and is set to continue into 2024. Greater activity means restructuring and opportunities for a change in leadership.
Biggest companies in the Executive Search Recruiters in the UK
| Company | Market Share (%)
2025 | Revenue (£m)
2025 |
|---|---|---|
Odgers Group Ltd | 122.4 | |
Russell Reynolds Associates Ltd | 121.3 | |
Harvey Nash Ltd | 119.7 |
To view the market share and analysis for all 5 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Retained search, Delimited or engaged search and Contingent search. Retained search is the largest segment of the Executive Search Recruiters in the UK.
Trends and Insights
Retained search has been hurt by client's taking recruitment into their own hands
- An upfront fee (retainer) is received, and recruiters get hired exclusively. A second instalment can be paid when the client receives a shortlist of candidates and then a final fee is paid once a suitable candidate is employed.
- More insights available in the full report
Table of Contents
About this industry
Industry definition
Executive search recruiters, known informally as head hunters, specialise in the recruitment of senior or executive personnel on behalf of clients. Services include targeted research and identification; candidate approach and vetting; and facilitation of the recruitment and assimilation processes.
What's included in this industry?
Retained searchDelimited (engaged) searchContingent searchAssessmentAdvisoryConsultingCompanies
Odgers Group LtdRussell Reynolds Associates LtdHarvey Nash LtdPurchase this report to view all 5 major companies in this industry.
Related Terms
C-LEVELLINKEDINRETAINERCONTINGENTIndustry Code
SIC 78.1 - Executive Search Recruiters in the UK
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Economic uncertainty has plagued recruiters. The COVID-19 pandemic forced businesses to freeze hiring plans over 2020-21, causing revenue to plummet. Then in the last few yea...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Retained search are the industry’s most expensive service. Clients are increasingly moving the recruitment process in-house in an attempt to reduce costs. Retained searches a...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
London is the centre of financial markets. Therefore, recruiters are heavily based in the capital to service these clients. The city is also home to many top UK companies, so...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each region in 2024
- Number and share of revenue each region accounts for in 2024
- Number and share of wages each region accounts for in 2024
- Number and share of employees in each region in 2024
Detailed analysis
- Geographic spread of the industry across Europe, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Boosting competitiveness through merger and acquisition. Larger recruitment firms are increasingly buying smaller boutique consultancies that have successfully made their mar...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Odgers dealt with COVID-19 disruption well. The company continued to complete work uninterrupted by adapting its search and additional services so work could continue online....
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Odgers Group Ltd's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Russell Reynolds Associates Ltd's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Harvey Nash Ltd's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for 2 additional companies
Detailed analysis
- Description and key data for Odgers Group Ltd, and factors influencing its performance in the industry
- Description and key data for Russell Reynolds Associates Ltd, and factors influencing its performance in the industry
- Description and key data for Harvey Nash Ltd, and factors influencing its performance in the industry
- Description, key data and performance trends for 2 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
The number of recruitment businesses is rising. As more businesses pop up and existing businesses expand, recruitment of new executives increases. This presents an opportunit...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Profit has been under pressure. Competition has forced recruiters to lower their fees, and firms have expanded service offerings, pushing up costs and constraining profit. Pr...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Liquidity Ratios (2018-2022)
- Coverage Ratios (2018-2022)
- Leverage Ratios (2018-2022)
- Operating Ratios (2018-2022)
- Assets (2018-2022)
- Liabilities (2018-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Top Questions Answered
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Executive Search Recruiters in the UK industry in United Kingdom in 2024?
The market size of the Executive Search Recruiters in the UK industry in United Kingdom is £1.8bn in 2024.
How many businesses are there in the Executive Search Recruiters in the UK industry in 2024?
There are 229 businesses in the Executive Search Recruiters in the UK industry in United Kingdom, which has grown at a CAGR of 1.0 % between 2019 and 2024.
Has the Executive Search Recruiters in the UK industry in United Kingdom grown or declined over the past 5 years?
The market size of the Executive Search Recruiters in the UK industry in United Kingdom has been growing at a CAGR of 2.4 % between 2019 and 2024.
What is the forecast growth of the Executive Search Recruiters in the UK industry in United Kingdom over the next 5 years?
Over the next five years, the Executive Search Recruiters in the UK industry in United Kingdom is expected to grow.
What are the biggest companies in the Executive Search Recruiters in the UK market in United Kingdom?
The biggest companies operating in the Executive Search Recruiters market in United Kingdom are Odgers Group Ltd, Russell Reynolds Associates Ltd and Harvey Nash Ltd
What does the Executive Search Recruiters in the UK in United Kingdom include?
Retained search and Delimited (engaged) search are part of the Executive Search Recruiters in the UK industry.
Which companies have the highest market share in the Executive Search Recruiters in the UK in United Kingdom?
The company holding the most market share in United Kingdom is Odgers Group Ltd.
How competitive is the Executive Search Recruiters in the UK industry in United Kingdom?
The level of competition is moderate and increasing in the Executive Search Recruiters in the UK industry in United Kingdom.
Related Industries
Widen your competitive advantage with related industries
Competitors
- Management Consultants in the UK
- Employment Placement Agencies in the UK
- Temporary-Employment Placement Agencies in the UK
Complementors
- Advertising Agencies in the UK
International industries
- Global HR & Recruitment Services
- Online Recruitment Sites in the US
- Healthcare Staff Recruitment Agencies in the US
- Casting Agencies in the US
- Executive Search Recruiters in the US
View all industries in United Kingdom
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the UK include:
- Office for National Statistics
- Office for Budget Responsibility
- Bank of England
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
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