While reluctant to proclaim it too loudly, executive recruiters believe a lean period in their industry may finally be coming to an end.
The major recruitment firms report a reasonable stream of new assignments across a range of industries. Irish plcs are leading the charge, although small high-tech firms are also looking to pull in talent
The Executive Selection Consultancies Association (ESCA)*, which comprises leading names in executive recruitment, is upbeat about the year ahead, even if some sectors such as IT continue to languish in relation to recruitment at the top level.
Looking back at last year the leading recruiters say high-level recruitment in the private sector was quiet.
"While 2003 was a marginally better year than 2002 for activity in the sector, opportunities for senior executives in the private sector were limited," says Mr Eugene O'Neill, director of executive resourcing at PricewaterhouseCoopers and currently chairman of ESCA.
"By contrast, recruitment at chief executive level in the public sector held up well. The academic sector was particularly active," he adds.
Mr O'Neill says a malaise in the economy generally has had another effect on the recruitment sector.
"There appears to be a significant pool of experienced executives available either through restructuring, downsizing or outright closure. However, this does not seem to have resulted in a substantial cohort of unemployed executives, as happened in the early and mid-1990s. Temporary assignments seem to keep the majority busy. Nevertheless, there is likely to be strong competition for senior opportunities arising in 2004," he says.
Mr John McCullough of KPMG concurs. "Our practice is primarily private-sector focused and 2003 assignments generally did not arise from strategic growth but rather from the replacement of departing or retiring lower-level executives.
Sentiment was subdued despite the relatively healthy business environment, with a general mood of uncertainty overhanging the market for senior executives. But we feel this is lifting and we have had an encouraging start to 2004."
According to Mr Michael Lenehan of P-E Consulting, the demand for HR professionals see-sawed in 2003.
"Senior executive appointments in the private sector declined in 2003 as uncertainty grew during the year. Demand for senior HR professionals with good IR experience, originally strong in anticipation of a breakdown in the partnership process, lessened once that threat had receded."
He is reluctant to make a clear prediction that the good times are back. "While 2004 has started well, it is too early to predict whether this is the January 'hockey stick' - or seasonal sharp rise - in demand or whether the buoyancy will be sustained."
All the recruiters have noted the extent of private sector interest in senior public sector jobs.
"However, the rigidity in public sector remuneration arrangements does present a barrier to mobility from the private to the public sector," according to Mr O'Neill.
Meanwhile, Mr Brian Ward of MERC saw a good level of activity in 2003 across all sectors. "An encouraging start to 2004 seems to augur well and that appears to be the experience of most of their major recruiters," he says.
