Headhunters are optimistic about the executive market
The Valor Economico article, "Headhunters are optimistic about the executive market," quoted Russell Reynolds Associates Consultant Pedro Goenaga on the prosperity he predicts for businesses in 2019. A translated excerpt of the article is below.
Pedro Goenaga, Consultant for Russell Reynolds Associates in Brazil, claims that the reaction of the market made it necessary to expand his team. Executive recruitment and consulting firms are optimistic for 2019. From what Valor has heard, last year had started somewhat slow, but the end presented quite a positive balance for all recruitment firms, and they believe projects will continue.
Signs of improvement started to be felt particularly in the second quarter of 2018 and escalated once the political scenario was defined. Exec, for instance, attained a billing record in November. Typically, this is not such a good month, because companies are planning for the following year and vacation time is about to begin, so companies resist hiring at this time.
"I believe this indicates a positive post-election feeling, and an economy that is starting to warm-up. The executive recruitment business is a reflex of expectations, so the movement starts before the actual growth," states André Freire, a partner of the consulting company.
In 2018, his company experienced growth of 25%, and 80% of the positions they filled were replacements of executives. In 2019, Freire believes there will be an increase in new positions. "We see that companies are starting to structure new areas and divisions. It seems 2019 will be a historical year," he states.
Russell Reynolds Associates, which has an office in São Paulo, is also very optimistic with the year that has just begun. So much so that they hired four new consultants in 2018, for a total of ten. "The market is reacting, and we brought in specialists in complementary areas, such as technology, healthcare and financial services," states Pedro Goenaga, Consultant for Russell Reynolds Associates in Brazil. "If in 2016 and 2017 the companies had to cut costs, now they are investing once again in positions, in order to take advantage of market opportunities." In 2018, Russell Reynolds had a 60% increase in revenue, in Brazil.
The entire article in its original Spanish can be found here.