Recently the Association of Executive Search Consultants (AESC) reported that global executive searches have fallen by 35% during the first quarter of 2009. In light of this, The GrapevineOnline spoke to William Guy, CEO of Cornerstone, to find out his thoughts on the state of the market at the moment.
He confirmed that Cornerstone “have seen a sharp drop in activity in virtually all sectors and geographical markets throughout the six primary continents we serve.”
Elaborating on this, he explains: “Our clients are loyal, they are not going to anyone else for their recruiting needs, but very few are recruiting. And if they are recruiting, they may tend to do it themselves to save money, because money is very tight is this slow economy.”
In light of rising unemployment levels in America, Guy said that Cornerstone have proposed a plan to action to the Government: “Cornerstone has proposed a practical solution to Washington DC for re-employing a significant number of the newly unemployed. This solution will help our entire retained search industry because it will entail using a number of the recruiters who are currently in idle.”