Executive search firms must innovate to remain ahead of the competition, and leveraging AI will play a big part in creating a competitive advantage. Gene Allmark-Kent and Yaroslav Writtle of Wilton & Bain share their perspectives.
Executive search as an industry has long been driven by the need to reduce the risk in senior hires within organizations by introducing research-based search methodologies and due diligence mechanisms to identify and attract the best and the brightest. This has enabled executive decision makers to make more informed hiring decisions based on a reliable body of evidence to mitigate some of the risk.
The core purpose of an executive search firm has remained much the same. But with the advent of new technologies and shifting tides in global labor markets, the way in which search firms add value to their clients continues to evolve, according to a new report by London-based executive search firm Wilton & Bain.
“Twenty-five years ago, the industry was characterized by information asymmetries, local/regional labor pools and a reliance on consultant’s Rolodexes to both identify and access talent in the market”, said Gene Allmark-Kent, a Partner at Wilton & Bain. “Client organizations sought to protect their best talent by keeping individuals hidden from the outside world and it was generally harder to get noticed”.
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