In the first ten months of 2018, the leading executive search company Amrop Estonia’s revenue grew by 45% compared to the same period last year and amounted to 492 231 euros, thus already exceeding the total revenue of 2017. Shortage of executives in Estonia and Amrop’s successful pan-Baltic operation are seen as the main factors behind headhunter’s rapid growth.
“2018 is the most successful year in the 25-year history of Amrop in Estonia. In only ten months we have exceeded the 12-months result of 2017, which was 480 541 euros, and this year for the first time ever we will pass the 500 000 euros milestone in annual revenue,” says Amrop Estonia managing partner Aiga Ārste-Avotiņa, who attributes success to two main reasons: shortage of talent - particularly executives - in Estonia as well as Amrop’s strategy of building strong regional operation.
According to Ārste-Avotiņa, 36% of employers globally experience talent shortages and difficulties finding the employees – especially managers and top executives - with the required skills. “In the Baltics with our tough demographic situation and growing economies such shortage of talents just becomes more evident. Most successful Estonian businesses realize that in order to grow they must expand internationally - and to make this happen they need suitable executives. Local startups and privately-owned companies often look for specific industry expertise that is difficult to find in a small market, so they require a cross border search to find managers. Amrop with our solid international presence in almost 50 countries and especially strong research teams is excellently positioned to find candidates with specific expertise wherever they are”, Ārste-Avotiņa said.
Compared to twenty or even ten years ago the executive search business in Estonia has gone through multiple changes. “We see our firm getting more specialized. Technology, digitalization, retail, manufacturing, infrastructure and industrial solutions are sectors where we have gathered strong competence & credentials and what we see developing even further. There is also strengthening the cross-border cooperation between international offices, offering chances for Estonian companies to enlarge talent pool and bringing more talents on local market from outside. Already now around 20% of our searches in Baltics are regional assignments”, Ārste-Avotiņa added.
Amrop advises the world’s most dynamic, agile organizations on identifying and positioning Leaders For What’s Next - adept at working across borders, in markets around the world. Established in 1977, Amrop operates in Asia, EMEA and the Americas. With approximately 80 offices in almost 50 countries, Amrop is one of the world’s largest retained executive search partnerships.
Amrop Estonia was established in 1993. Amrop Estonia’s clients include Ekspress Grupp, Eesti Raudtee, Baltic Workboats, HKScan, R-Kiosk Estonia, PKN Orlen, Circle K, Riigi Kinnisvara, Tallinna Sadam and many others.