CEOs rank workforce issues as among their most critical responsibilities. Recruiting, retention and workforce morale have become direct reflections of CEO effectiveness, and are increasingly viewed as sources of competitive advantage (or disadvantage).
Independent research demonstrates that CEO involvement in the purchase of Executive Search services is significant. Within companies that use Executive Search services, 88.4% of CEOs report being personally involved in at least one stage of the purchase decision. CEOs are most involved in the Final Stage of the purchase decision, during which firms are selected and approved, at 72.0%.
For 2013, 46.3% of CEOs anticipate spending on Executive Search Services, with an average spend of $383,000.
With the CEO’s personal involvement in procuring Executive Search Services, the likelihood is greatly increased that the organization will forward quickly in the evaluation and adoption process (+92.3%), it will become a priority that others in their organization will give serious consideration to and remove roadblocks in the evaluation process (+91.5%), and ultimately become a reality (+89.4%).
For data and research on other talent management issues, including Benefits, Insurance and Payroll Services, please see Benefits, Insurance and Payroll.
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