White Paper: 2024 Top Trends in Executive Search Technology

Anticipate new business

Experts that innovate stay ahead

Once again, Cluen has collected survey results from search professionals around the world, informing our work and keeping you up to date. In the evolving landscape of executive search, the strategies that experts use to place top candidates vary from firm to firm. What’s clear is that staying on top of cutting edge of technology isn’t just an advantage—it’s a necessity. As generative Artificial Intelligence (GAI)  continues to reshape industries, the ability to proactively integrate these innovations into your workflow is the key to outpacing the competition.

How does a forward-thinking executive search professional like yourself ensure your firm is positioned for maximum success? Are you familiar and equipped with the tech tools your peers are using? What are the secrets behind how top firms are securing clients, sourcing and nurturing candidate pipelines, harnessing data, all while speeding up every aspect of their process? 

As the industry continues to evolve, leveraging cutting-edge technologies is more crucial than ever to thrive in this new era. Cluen’s research provides a comprehensive look at these trends, empowering you to innovate and stay ahead in a rapidly changing market.

In this white paper, you will uncover the upcoming technology trends in the executive search space based on Cluen’s 2024 industry surveys.

Process Automation

What tasks do you spend the most time on?

Take a moment to assess your current process. Are you harnessing the newest AI tools to save 
you time? Are you looking to improve team efficiency and effectiveness? Is data kept organized and secure? Are client relationships collaborative enough to prevent miscommunication? Is Business Development closely monitored so that all new opportunities can be attained?

If one step in your process typically follows another, you may be looking for some balance and ease through process automation. More search teams than ever are turning to the latest technology to automate their workflows. Any manual process repeated across the team and over time is a good target to review. While no automation is flawless, the time saved—even with the occasional imperfection—often outweighs the manual effort, which is still susceptible to human error. This is particularly useful for tasks that are frequently neglected due to time constraints.

Top systems like Cluen’s Encore Max, with proper configuration to your exact processes, minimize time wasted and allow for automation of data entry, client reporting, email outreach and more so you can we effectively win and complete more searches.

Automation Techniques

Workflows

Eliminate repetitive tasks by automating your workflows. One complete task triggers the next task, working for you behind the scenes.

AI Hub
As the pioneer in executive search technology, Cluen is providing features that empower you to build your own best practices for incorporating AI into Encore Max, or your recruiting process. Stay at the forefront of AI technology in recruiting, with some of Encore Max’s AI Features evolving in each update.

This is all done using a secure version of OpenAI's GPT module. When using this feature through Encore, Open AI doesn't store the info and won't be used in further iterations, whereas if you were to use public ChatGPT directly, your inputs would be used in future iterations of the AI.

Data Visualization

Consolidate executive search data analysis in automated “push” visualizations. Why rely on support team(s) to generate your key information analyses, when smart systems can have the results ready for you at all times?

Rules-based Sequencing
Using built-in tools (continuously evolving) and available integrations Cluen customers can reduce time and generate new business.

Integrations
You can now work with Encore Max data directly from each contact’s LinkedIn page with our latest LinkedIn Plug-in partnership. New Data Connector and Web Menu services allow for linkage to thousands of other systems. If you’re ever dreamed of reducing the number of open tabs, you can now add new records and manage your candidate pipelines and much more, all without leaving LinkedIn.

Email Marketing
Track email analytics natively when you use Encore Max’s “Email Blast” tool, integrated with your Microsoft or Google mailbox. Connect with the contacts who are most likely to be receptive at the right time, automate data updates, and flag new actions in real-time.

The majority of survey respondents are using Microsoft Outlook to email their contacts in bulk, but without built-in performance metrics, they are unable to report on the analytics behind the email “clicks" and "opens." This would be an invaluable time saver to help you keep a close eye on the most engaged contacts.

Status Reporting 
Setting automation rules and pre-set templates lets you create branded, customized client status report templates in one click–or rely on rules-based automation for real-time web 
reporting portal(s) with zero clicks.

Automated Compliance

Stay in compliance with GDPR and your local regulations through fully automated sequences with updates reflected across the system

What email blasting tools does your firm use?

Seamless Data Entry
The power of Artificial Intelligence (AI) does the heavy lifting for you. By automatically connecting the dots between data from tools like LinkedIn with your team’s email communications, search execution efforts, and documents all in one hub, you leverage more insight with less effort. Updating Search Status just got easier with Encore Max’s simple Kanban-style drag-and-drop workflow on candidate pipelines found in “Card View."

Self-identification Survey
Encore Max's ”Survey” tool lets you send out surveys and see results directly in the database. Save your precious time from tedious data collection and entry and instead engage with your clients and candidates. For example: Send a set of executives a confidential compensation survey to market trends with potential clients. Bonus: you're also nurturing your existing contact relationships for future engagement.

Generative AI and Executive Search

Maximize Efficiency

As generative AI continues to revolutionize various industries, expert executive search professionals have started applying it to their strategies. Different from previous artificial intelligence tools that are designed to support specific tasks based on their "deep learning" on large sets of examples (like language translation, resume parsing, facial recognition, etc.), the Large Language Models of generative AI are built to create new content based on more generalized training. This allows for broader adoption and application to solve new problems without as much specific training.

If you can’t find deeper insights in data, quickly and at scale, your competitors will. Last year, Forbes predicted an annual growth in the use of generative Artificial Intelligence of 37.3% from 2023 to 2030. This year, a Capgemeni report recorded a widespread increase of 80% of organizations investing in generative AI, which is 6% more than 6 months ago. This demonstrates the growing confidence and reliance on AI within executive search and the power it has to transform productivity on a global scale. Cluen's newest functions powered by OpenAI are continuing to pave the way for the best practices of executive search utilization of generative AI. 

What Generative AI products is your firm using?
While there are other tools in the market, in 2024, more executive search professionals use ChatGPT or “nothing" than any of the other primary tools available today. With effective prompting, some fact-checking and quick edits, you can get something that is presentation-ready and acceptable for business use. 

For what business processes might you use AI?

Generative AI is here to disrupt and revolutionize the process executive search professionals have in place to maximize efficiency, increase flow of candidates and take their placement portfolios to a new level. Staying proactive about learning new technology will save you a lot of time as you simultaneously build better competitive intelligence to stay ahead of new trends and strategies. Cluen’s survey data highlights your peers’ experiences and opinions that can reshape your strategy and set you apart.

GAI Advantages, Risks and Challenges                      

Are you using the latest AI safely and effectively?

Like with any adoption of newer technology, the integration of generative AI in executive search has also brought forth the need to identify its advantages, risks and challenges. It is always a great practice to question the safety and effectiveness of generative AI as it develops. For example, when a meeting is being summarized by an in-meeting AI assistant, how likely is it that the candidate, client or search 
consultant are being their authentic selves, or holding back sensitive opinions? The human 
role on relationship nurture cannot be perfectly duplicated.

The following are some of the tasks that are being facilitated with GAI today. Feel free to contact your Cluen representative or JulieT@Cluen.com for more information about the advantages and risks of each. 

• Client Meeting

• Job Profile Description
• Candidate Search
• Candidate Assessment
• Presentation to Client
• Interview Facilitation
• Negotiation and Offer
• Post-Placement Follow-Up

AI Training Courses                                                                       
Will your firm be taking any of these AI training courses?
More than 40% of Cluen’s survey respondents said they already have an AI policy in place, and 55% said their firm is planning to take AI training courses. Take a look at some of the AI training courses your peers are actively enrolled in.

What concerns, if any, do you have regarding the ethical implications of AI usage in Executive Search?
Surprisingly, 27% of survey respondents said they have no concerns regarding the ethical implications of AI usage in Executive Search. The other 73% of respondents hold some concern around privacy issues, bias in candidate selection, and other general wariness for accuracy.

Trending Tools

Business Development
To win new business, having key data at your fingertips is crucial. Experts are now adopting the latest integrated system for business development that allows them to balance research projects while maintaining a full sales funnel. By leveraging these insights, you can make smarter decisions and drive continuous growth, all with minimal effort.

While Win-Loss rates for Business Development are one of the most important reporting metrics, trends and KPIs, 40% of survey respondents are not managing new Business Development relationships in their executive search database. Lacking this tool and process could result in missed opportunities.  

Since Cluen introduced its BD Insights panel in 2021, through continuous improvements, we have seen even more payback for firms that manage their business development opportunities from within their core search management system. 

Encore Max’s “BD” dashboard allows you to:

 ✓ Focus on the most important prospects 
✓ View a pipeline of potential business
 ✓ Forecast revenues by consultant, practice or whole team
 ✓ Support your internal BD reporting and team meetings

Research tools
These are the top tools executive search professionals are using to conduct third party research to supplement their process. Where do your tools rank against your peers? 

Document Storage
These are the top tools executive search professionals are using to keep their documents safely stored and organized, as well preferred communication tools both for internal and external use. 

Candidate Assessment
These are the top tools executive search professionals are using to assess their candidates. Year over year, the Hogan Assessment ranks as widely used. Check out the other tools your peers are using and perhaps learn of a new one you’d like your firm to start using. 

Internal & External Communication
Finally, we have the communication tools that different firms are using both internally and externally. Teams and Zoom have ranked as most widely used for both efforts, year over year. 

Conclusion                                                                                        

Key Takeaways

Now that you’ve gotten familiar with the industry trends from your peers, we hope you will feel confident implementing at least one new idea to increase your team’s effectiveness in the coming year. By identifying the technology and tools innovators like yourself are implementing in their process, you can rest assured you have positioned yourself and your firm ahead of the curve. The need to stay on top of the most recent technology in a rapidly changing market becomes more crucial as new trends emerge in the executive search space. Now, you can ensure that you are employing the best resources, strategies and tools to get ahead of your competition. Search firms that leverage technology to move faster will win the battle for the future.

Who we are: Cluen