Question · Q2 2026
Sami Nasir asked if the current strength in new business for executive search would offset the typical seasonal step-down in the third quarter, which usually sees a ramp in the fourth quarter.
Answer
CEO Gary Burnison stated that the company's guidance does not imply a different seasonality, as the holiday season is expected to impact the entire business for about two weeks, which is already factored into the forecast. Regarding consulting, Mr. Nasir questioned the flat margins despite strong bill rates and asked about the remaining runway for the mix shift towards higher-value engagements, as well as potential higher costs capping margin upside. Mr. Burnison responded that there is substantial opportunity and upside in the consulting solution, describing the transformation from selling 'vitamins' (small transactions) to being in the 'health and wellness business' (larger engagements). CFO Bob Rozek added that the current uncertain environment benefits the firm as clients seek help navigating new challenges, leading to strong demand for larger, transformational org strategy engagements.
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