0001066605-24-000008 | 10-K | XBRL Viewer | Heidrick Struggles International INC

Stock-Based Compensation and Common Stock (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Share-based Payment Arrangement, Expensed and Capitalized, Amount

A summary of information with respect to stock-based compensation is as follows:


	December 31,
	2023		2022		2021
Salaries and employee benefits (1)	$	10,633	$	14,651	$	20,081
General and administrative expenses	1,013		810		345
Income tax benefit related to stock-based compensation included in net income	3,220		4,263		5,539

(1) Includes $0.8 million of expense, $1.2 million of income, and $7.8 million of expense related to cash settled restricted stock units for the years ended December 31, 2023, 2022, and 2021, respectively.

Schedule of Share-based Payment Arrangement, Restricted Stock Unit, Activity

Restricted stock unit activity for the years ended December 31, 2023, and 2022 is as follows:


	Number of Restricted Stock Units	Weighted- Average Grant-date Fair Value
Outstanding on December 31, 2021	727,651	$	31.32
Granted	287,954	34.05
Vested and converted to common stock	(273,565)	32.29
Forfeited	(13,755)	34.63
Outstanding on December 31, 2022	728,285	31.97
Granted	276,227	26.91
Vested and converted to common stock	(292,078)	31.08
Forfeited	(25,693)	31.54
Outstanding on December 31, 2023	686,741	$	30.33

Schedule of Performance Stock Unit Activity

Performance share unit activity for the years ended December 31, 2023, and 2022 is as follows:


	Number of Performance Stock Units	Weighted- Average Grant-date Fair Value
Outstanding on December 31, 2021	232,857	$	39.88
Granted	97,379	49.59
Vested and converted to common stock	(69,784)	52.91
Forfeited	—	—
Outstanding on December 31, 2022	260,452	40.02
Granted	103,916	34.14
Vested and converted to common stock	(124,743)	31.51
Forfeited	—	—
Outstanding on December 31, 2023	239,625	$	41.91

Schedule of Share-Based Compensation, Phantom Shares Award Outstanding Activity

Phantom stock unit activity for the years ended December 31, 2023, and 2022 is as follows:


						Number of Phantom Stock Units
Outstanding on December 31, 2021						348,863
Granted						95,675
Vested						(119,333)
Forfeited						(4,050)
Outstanding on December 31, 2022						321,155
Granted						—
Vested						(115,180)
Forfeited						(18,674)
Outstanding on December 31, 2023						187,301

Restructuring - Narrative (Details) - USD ($)	1 Months Ended	12 Months Ended
Restructuring - Narrative (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Restructuring and Related Activities [Abstract]
Restructuring charges		$ 0	$ 0	$ 3,792,000
Early termination agreement payment	$ 11,700,000
Lease liability associated with surrendered office	$ 17,400,000
Gain on early termination agreement				5,700,000
Restructuring reserve		$ 0	$ 3,422,000	$ 8,394,000	$ 23,265,000

Goodwill and Other Intangible Assets - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 7,780
2025	5,971
2026	2,525
2027	1,534
2028	897
Thereafter	2,135
Total	$ 20,842	$ 6,333

Consolidated Statements of Comprehensive Income - USD ($) shares in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue
Revenue before reimbursements (net revenue)	$ 1,026,864,000	$ 1,073,464,000	$ 1,003,001,000
Reimbursements	14,318,000	10,122,000	5,473,000
Total revenue	1,041,182,000	1,083,586,000	1,008,474,000
Operating expenses
Salaries and benefits	656,030,000	737,430,000	717,411,000
General and administrative expenses	156,494,000	132,678,000	130,749,000
Cost of services	109,039,000	70,676,000	52,785,000
Research and development	22,698,000	20,414,000	0
Impairment charges	7,246,000	0	0
Restructuring charges	0	0	3,792,000
Reimbursed expenses	14,318,000	10,122,000	5,473,000
Total operating expenses	965,825,000	971,320,000	910,210,000
Operating income	75,357,000	112,266,000	98,264,000
Non-operating income (expense)
Interest, net	11,617,000	5,337,000	302,000
Other, net	1,697,000	(2,367,000)	7,463,000
Net non-operating income	13,314,000	2,970,000	7,765,000
Income before income taxes	88,671,000	115,236,000	106,029,000
Provision for income taxes	34,261,000	35,750,000	33,457,000
Net income	54,410,000	79,486,000	72,572,000
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment	4,810,000	(8,457,000)	(1,890,000)
Net unrealized gain (loss) on available-for-sale investments	83,000	(41,000)	0
Pension gain (loss) adjustment	(575,000)	2,634,000	148,000
Other comprehensive loss, net of tax	4,318,000	(5,864,000)	(1,742,000)
Comprehensive income	$ 58,728,000	$ 73,622,000	$ 70,830,000
Weighted-average common shares outstanding
Basic (in shares)	20,029	19,758	19,515
Diluted (in shares)	20,766	20,618	20,296
Earnings per common share
Basic (in dollars per share)	$ 2.72	$ 4.02	$ 3.72
Diluted (in dollars per share)	2.62	3.86	3.58
Cash dividends paid per share (in dollars per share)	$ 0.60	$ 0.60	$ 0.60

Leases

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Leases

The Company's lease portfolio is comprised primarily of operating leases for office space and equipment. The majority of the Company's leases include both lease and non-lease components, which the Company accounts for differently depending on the underlying class of asset. Certain of the Company's leases include one or more options to renew or terminate the lease at the Company's discretion. Generally, the renewal and termination options are not included in the right-of-use assets and lease liabilities as they are not reasonably certain of exercise. The Company regularly evaluates the renewal and termination options and when they are reasonably certain of exercise, includes the renewal or termination option in the lease term.

As most of the Company's leases do not provide an implicit interest rate, the Company utilizes an incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The Company has a centrally managed treasury function and therefore, a portfolio approach is applied in determining the incremental borrowing rate. The incremental borrowing rate is the rate of interest that the Company would have to pay to borrow on a fully collateralized basis over a similar term in an amount equal to the total lease payments in a similar economic environment.

Office leases have remaining lease terms that range from less than one year to 11.8 years, some of which also include options to extend or terminate the lease. Most office leases contain both fixed and variable lease payments. Variable lease costs consist primarily of rent escalations based on an established index or rate and taxes, insurance, and common area or other maintenance costs, which are paid based on actual costs incurred by the lessor. The Company has elected to utilize the available practical expedient to not separate lease and non-lease components for office leases.

As part of the Company's 2020 Plan (as defined below), a lease component related to one of the Company's offices was

abandoned and the useful life of the associated right-of-use asset was shortened to correspond with the cease-use date. As a result of the change in useful life, approximately $8.7 million of right-of-use asset amortization was accelerated and recorded in Restructuring charges in the Consolidated Statements of Comprehensive Income and Depreciation and amortization in the Consolidated Statements of Cash Flows during the year ended December 31, 2021. In September 2021, the Company entered into a termination and surrender agreement for this lease component. Under the terms of the agreement, the Company made a one-time payment of $11.7 million to release the Company from all remaining obligations under the lease. At the time of payment, the Company had accrued approximately $17.4 million of lease liabilities related to future payments under the remaining lease term. Upon making the one-time payment, the lease liabilities were relieved, resulting in a gain on termination of approximately $5.7 million, which is recorded in Restructuring charges in the Consolidated Statements of Comprehensive Income for the year ended December 31, 2021.

Equipment leases, which are comprised of vehicle and office equipment leases, have remaining terms that range from less than one year to 4.9 years, some of which also include options to extend or terminate the lease. The Company's equipment leases do not contain variable lease payments. The Company separates the lease and non-lease components for its equipment leases. Equipment leases do not comprise a significant portion of the Company's lease portfolio.

Lease cost components included within General and Administrative Expenses in our Consolidated Statements of Comprehensive Income for the year ended December 31, were as follows:


	December 31,
	2023		2022
Operating lease cost	$	19,587	$	17,408
Variable lease cost	9,225		6,116
Total lease cost	$	28,812	$	23,524

Supplemental cash flow information related to the Company's operating leases for the year ended December 31, is as follows:


	December 31,
	2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	20,856	$	18,865
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	34,982	$	18,055

The weighted average remaining lease term and weighted average discount rate for our operating leases as of December 31, is as follows:


	December 31,
	2023		2022
Weighted Average Remaining Lease Term
Operating leases	7.3 years		6.3 years
Weighted Average Discount Rate
Operating leases	4.82	%	3.48	%

The future maturities of the Company's operating lease liabilities for the years ended December 31, is as follows:


	Operating Lease Maturity
2024	$	21,095
2025	16,384
2026	14,997
2027	14,698
2028	11,225
Thereafter	43,008
Total lease payments	121,407
Less: Interest	21,705
Present value of lease liabilities	$	99,702

The Company has an obligation at the end of the lease term to return certain offices to the landlord in its original condition, which is recorded at fair value at the time the liability is incurred. The Company had $3.3 million and $2.8 million of asset retirement obligations as of December 31, 2023, and 2022, respectively, which are recorded within Other current liabilities and Other non-current liabilities in the Consolidated Balance Sheets.

Stock-Based Compensation - Schedule of Restricted, Performance, and Phantom Stock Activity (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning balance (in shares)	728,285	727,651
Grants (in shares)	276,227	287,954
Vested (in shares)	(292,078)	(273,565)
Forfeited (in shares)	(25,693)	(13,755)
Ending balance (in shares)	686,741	728,285
Weighted- Average Grant-Date Fair Value
Beginning balance (in dollars per share)	$ 31.97	$ 31.32
Granted (in dollars per share)	26.91	34.05
Vested (in dollars per share)	31.08	32.29
Forfeited (in dollars per share)	31.54	34.63
Ending balance (in dollars per share)	$ 30.33	$ 31.97
Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning balance (in shares)	260,452	232,857
Grants (in shares)	103,916	97,379
Vested (in shares)	(124,743)	(69,784)
Forfeited (in shares)	0	0
Ending balance (in shares)	239,625	260,452
Weighted- Average Grant-Date Fair Value
Beginning balance (in dollars per share)	$ 40.02	$ 39.88
Granted (in dollars per share)	34.14	49.59
Vested (in dollars per share)	31.51	52.91
Forfeited (in dollars per share)	0	0
Ending balance (in dollars per share)	$ 41.91	$ 40.02
Phantom Share Units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning balance (in shares)	321,155	348,863
Grants (in shares)	0	95,675
Vested (in shares)	(115,180)	(119,333)
Forfeited (in shares)	(18,674)	(4,050)
Ending balance (in shares)	187,301	321,155

Income Taxes - Schedule of Reconciliation of Provision for (Benefit from) Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Statutory U.S. federal income tax rate	21.00%
Income tax provision at the statutory U.S. federal rate	$ 18,621	$ 24,199	$ 22,266
State income tax provision, net of federal tax benefit	4,974	5,475	4,994
Nondeductible expenses, net	8,437	4,036	2,833
Foreign taxes (includes rate differential and changes in foreign valuation allowance)	4,158	1,647	1,910
Release of valuation allowance	(185)	0	(157)
Additional U.S. tax on foreign operations	(300)	436	242
Other, net	(1,444)	(43)	1,369
Total provision for income taxes	$ 34,261	$ 35,750	$ 33,457

Changes in Accumulated Other Comprehensive Income - Schedule of Changes in Accumulated Other Comprehensive Income by Component (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	$ 410,646
Other comprehensive income (loss) before classification, net of tax	4,318
Ending Balance	462,278
Available- for- Sale Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(41)
Other comprehensive income (loss) before classification, net of tax	83
Ending Balance	42
Foreign Currency Translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(4,163)
Other comprehensive income (loss) before classification, net of tax	4,810
Ending Balance	647
Pension
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	15
Other comprehensive income (loss) before classification, net of tax	(575)
Ending Balance	(560)
AOCI
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(4,189)
Ending Balance	$ 129

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

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+ Details

Stock-Based Compensation - Narrative (Detail) - USD ($)		12 Months Ended
Stock-Based Compensation - Narrative (Detail) - USD ($)	May 25, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Feb. 11, 2008
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional shares authorized (in shares)	1,060,000
Awards issued to date (in shares)		4,166,113
Awards forfeited to date (in shares)		784,325
Shares available for future awards (in shares)		1,028,212
Shares issued for services (in shares)		16,134	11,850
Stock repurchase program, authorized amount					$ 50,000,000
Repurchase of common stock (in shares)		36,000	0
Repurchase of common stock		$ 904,000
Total shares acquired to date (in shares)		1,074,670
Total shares acquired to date		$ 29,200,000
Remaining authorized repurchase amount		$ 20,800,000
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued for services (in shares)		23,620	11,850
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized		$ 5,900,000
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized, period for recognition		2 years 1 month 6 days
Allocated share-based compensation expense		$ 800,000	$ 1,200,000	$ 7,800,000
Restricted Stock Units \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance stock units vesting period		3 years
Restricted Stock Units \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance stock units vesting period		4 years
Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized		$ 4,600,000
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized, period for recognition		1 year 9 months 18 days
Performance Stock Units \| Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance stock units vesting period		3 years
Performance Stock Units \| Minimum \| Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance stock units, variation percentage		0.00%
Performance Stock Units \| Maximum \| Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance stock units, variation percentage		200.00%
Phantom Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance stock units vesting period		4 years
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized		$ 1,000,000
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized, period for recognition		2 years 3 months 18 days
Allocated share-based compensation expense		$ 800,000	$ 1,200,000	$ 7,800,000

Credit Losses (Tables)

12 Months Ended

Dec. 31, 2023

Credit Loss [Abstract]

Schedule of Accounts Receivable, Allowance for Credit Loss

The activity in the allowance for credit losses on the Company's trade receivables is as follows:


	December 31,
	2023		2022		2021
Balance at January 1,	$	6,643	$	5,666	$	6,557
Provision for credit losses	9,574		7,938		4,991
Write-offs	(9,275)		(6,830)		(5,730)
Foreign currency translation	12		(131)		(152)
Balance at December 31,	$	6,954	$	6,643	$	5,666

Schedule of Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value

At December 31, 2022, the fair value and unrealized losses on available for sale debt securities, aggregated by investment category and the length of time the security has been in an unrealized loss position, were as follows:


	Less Than 12 Months				Balance Sheet Classification
Balance at December 31, 2022	Fair Value		Unrealized Loss		Cash and Cash Equivalents		Marketable Securities
U.S. Treasury securities	$	194,056	$	56	$	11,918	$	182,138

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

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-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

+ Details

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets attributable to:
Operating lease liability and accrued rent	$ 15,490	$ 16,693
Foreign net operating loss carryforwards	11,658	14,528
Accrued compensation and employee benefits	12,678	20,776
Deferred compensation	19,245	17,994
Foreign tax credit carryforwards	7,820	5,522
Other accrued expenses	10,515	6,257
Deferred tax assets, before valuation allowance	77,406	81,770
Valuation allowance	(22,233)	(20,724)
Deferred tax assets, after valuation allowance	55,173	61,046
Deferred tax liabilities attributable to:
Operating lease, right-of-use, assets	11,715	13,020
Goodwill	17,731	9,493
Depreciation on property and equipment	2,731	3,449
Other	1,393	1,592
Deferred tax liabilities	33,570	27,554
Net deferred tax assets	$ 21,603	$ 33,492

Leases - Schedule of Future Maturities for Operating Leases (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Leases [Abstract]
2024	$ 21,095
2025	16,384
2026	14,997
2027	14,698
2028	11,225
Thereafter	43,008
Total lease payments	121,407
Less: Interest	21,705
Present value of lease liabilities	$ 99,702

Summary of Significant Accounting Policies - Schedule of Estimated Useful Life of Property and Equipment (Details)	Dec. 31, 2023
Office furniture, fixtures and equipment \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life of assets	5 years
Office furniture, fixtures and equipment \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life of assets	10 years
Computer equipment and software \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life of assets	3 years
Computer equipment and software \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life of assets	7 years
Leasehold improvements \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life of assets	3 years
Leasehold improvements \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life of assets	10 years

Credit Losses - Schedule of Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items]
Fair Value	$ 242,270	$ 312,080
U.S. Treasury securities
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items]
Fair Value		194,056
Unrealized Loss		56
Cash and Cash Equivalents \| U.S. Treasury securities
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items]
Fair Value		11,918
Marketable Securities \| U.S. Treasury securities
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items]
Fair Value		$ 182,138

Income Taxes - Schedule of Sources of Income (Loss) before Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
United States	$ 52,572	$ 57,274	$ 68,122
Foreign	36,099	57,962	37,907
Income before income taxes	$ 88,671	$ 115,236	$ 106,029

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
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-URI https://asc.fasb.org//1943274/2147479557/942-235-S99-1

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 25
-Paragraph 1
-SubTopic 20
-Topic 940
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481913/940-20-25-1

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

Leases - Schedule of Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease cost	$ 19,587	$ 17,408
Variable lease cost	9,225	6,116
Total lease cost	$ 28,812	$ 23,524

Income Taxes - Narrative (Detail) - USD ($) $ in Thousands	12 Months Ended
Income Taxes - Narrative (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Operating Loss Carryforwards [Line Items]
Valuation allowance	$ 22,233	$ 20,724
Several statutes of limitation expected to close	12 months
Minimum
Operating Loss Carryforwards [Line Items]
Losses carried forward	five years	five
Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Net operating loss carryforward	$ 93,300	$ 103,400
Net operating loss carryforward subject to valuation allowance	58,300	64,000
Deferred tax assets, tax credit carryforwards	7,800	5,500
Tax credit carryforward, valuation allowance	$ 7,800	$ 5,500
State Tax Authority \| Minimum
Operating Loss Carryforwards [Line Items]
Income tax examination, year under examination	2020
State Tax Authority \| Maximum
Operating Loss Carryforwards [Line Items]
Income tax examination, year under examination	2022
Federal Tax Authority \| Minimum
Operating Loss Carryforwards [Line Items]
Income tax examination, year under examination	2019

Other Current Liabilities - Schedule of Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Earnout accruals	$ 0	$ 36,010
Other	21,823	20,006
Other current liabilities	$ 21,823	$ 56,016

Guarantees (Details) $ in Millions	Dec. 31, 2023 USD ($)
Guarantees and Product Warranties [Abstract]
Guarantor obligations, maximum exposure, undiscounted	$ 4.5

Segment Information - Narrative (Details) $ in Thousands	12 Months Ended
Segment Information - Narrative (Details) $ in Thousands	Dec. 31, 2023 USD ($) operatingSegment	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Segment Reporting Information [Line Items]
Revenue before reimbursements (net revenue)	$ 1,026,864	$ 1,073,464	$ 1,003,001
Long-lived assets	250,600	260,600
United States
Segment Reporting Information [Line Items]
Revenue before reimbursements (net revenue)	$ 602,600	$ 703,700	$ 650,900
Operating Segments
Segment Reporting Information [Line Items]
Number of reportable segments \| operatingSegment	5

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Other Current Liabilities (Tables)

12 Months Ended

Dec. 31, 2023

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of Other Current Liabilities

The components of other current liabilities are as follows:


	December 31, 2023		December 31, 2022
Earnout liability	$	—	$	36,010
Other	21,823		20,006
Total other current liabilities	$	21,823	$	56,016

Schedule of Other Non-Current Liabilities

The components of other non-current liabilities are as follows:


	December 31, 2023		December 31, 2022
Earnout liability	$	38,601	$	—
Other	3,207		5,293
Total other non-current liabilities	$	41,808	$	5,293

Financial Instruments and Fair Value - Narrative (Details) - USD ($)	3 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Option, Quantitative Disclosures [Line Items]
Aggregate cost basis for investments		$ 37,200,000	$ 29,100,000
Earnout accruals		0	36,010,000
Earnout liability		38,601,000	0
Impairment		7,246,000
Heidrick Consulting Reporting Units
Fair Value, Option, Quantitative Disclosures [Line Items]
Impairment	$ 7,200,000	7,200,000
Fair Value, Inputs, Level 3 \| Current and Other Current Liabilities \| Acqusition Earnout Accruals
Fair Value, Option, Quantitative Disclosures [Line Items]
Earnout accruals		0	36,000,000
Fair Value, Inputs, Level 3 \| Non-Current and Other Non-Current Liabilities \| Acqusition Earnout Accruals
Fair Value, Option, Quantitative Disclosures [Line Items]
Earnout liability		38,600,000	0
Fair Value, Inputs, Level 3 \| Current Accrued Salaries and Benefits \| Contingent Compensation
Fair Value, Option, Quantitative Disclosures [Line Items]
Earnout accruals		6,000,000	1,500,000
Fair Value, Inputs, Level 3 \| Non-Current Accrued Salaries and Benefits \| Contingent Compensation
Fair Value, Option, Quantitative Disclosures [Line Items]
Earnout liability		$ 12,900,000	$ 6,700,000

Leases - Schedule of Weighted Average Information Related to Leases (Details)	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Weighted Average Remaining Lease Term	7 years 3 months 18 days	6 years 3 months 18 days
Weighted Average Discount Rate	4.82%	3.48%

Property and Equipment, net - Narrative (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation	$ 9,113	$ 7,394	$ 7,150
Restructuring and related cost			$ 900

Financial Instruments and Fair Value

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Financial Instruments and Fair Value

Cash, Cash Equivalents and Marketable Securities

The Company's investments in marketable debt securities, which consist of U.S. Treasury bills, are classified and accounted for as available-for-sale. The Company classifies its marketable debt securities as either short-term or long-term based on each instrument's underlying contractual maturity date. Unrealized gains and losses on marketable debt securities classified as available-for-sale are recognized in Accumulated other comprehensive income in the Consolidated Balance Sheets until realized.

The Company's cash, cash equivalents, and marketable securities by significant investment category are as follows:



	Amortized Cost		Unrealized Gains		Fair Value		Cash and Cash Equivalents		Marketable Securities
Balance at December 31, 2023
Cash							$	221,980	$	—

Level 1(1):
Money market funds							13,906
U.S. Treasury securities	242,228		42		242,270		176,732		65,538
Total Level 1	242,228		42		242,270		190,638		65,538




Total	$	242,228	$	42	$	242,270	$	412,618	$	65,538



	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value		Cash and Cash Equivalents		Marketable Securities
Balance at December 31, 2022
Cash									$	247,198	$	—

Level 1(1):
Money market funds									62,338
U.S. Treasury securities	312,121		15		(56)		312,080		45,911		266,169
Total Level 1	312,121		15		(56)		312,080		108,249		266,169

Total	$	312,121	$	15	$	(56)	$	312,080	$	355,447	$	266,169

(1)Level 1 – Quoted prices in active markets for identical assets and liabilities.

Investments, Assets Designated for Retirement and Pension Plans and Associated Liabilities

The Company has a U.S. non-qualified deferred compensation plan that consists primarily of U.S. marketable securities and mutual funds. The aggregate cost basis for these investments was $37.2 million and $29.1 million as of December 31, 2023, and December 31, 2022, respectively.

The Company also maintains a pension plan for certain current and former employees in Germany. The pensions are individually fixed Euro amounts that vary depending on the function and the eligible years of service of the employee. The Company’s investment strategy is to support its pension obligations through reinsurance contracts. The BaFin—German Federal Financial Supervisory Authority—supervises the insurance companies and the reinsurance contracts. The BaFin requires each reinsurance contract to guarantee a fixed minimum return. The Company’s pension benefits are fully reinsured by

group insurance contracts with ERGO Lebensversicherung AG, and the group insurance contracts are measured in accordance with BaFin guidelines (including mortality tables and discount rates) which are considered Level 2 inputs.

The following tables provide a summary of the fair value measurements for each major category of investments, assets designated for retirement and pension plans and associated liabilities measured at fair value on a recurring basis:


			Balance Sheet Classification
	Fair Value		Other Current Assets		Assets Designated for Retirement and Pension Plans		Investments		Other Current Liabilities		Retirement and Pension Plans
Balance at December 31, 2023

Measured on a recurring basis:
Level 1(1):
U.S. non-qualified deferred compensation plan	$	47,287	$	—	$	—	$	47,287	$	—	$	—

Level 2(2):
Retirement and pension plan assets	12,394		1,289		11,105		—		—		—
Pension benefit obligation	(14,416)		—		—		—		(1,289)		(13,127)
Total Level 2	(2,022)		1,289		11,105		—		(1,289)		(13,127)





Total	$	45,265	$	1,289	$	11,105	$	47,287	$	(1,289)	$	(13,127)


			Balance Sheet Classification
	Fair Value		Other Current Assets		Assets Designated for Retirement and Pension Plans		Investments		Other Current Liabilities		Retirement and Pension Plans
Balance at December 31, 2022

Measured on a recurring basis:
Level 1(1):
U.S. non-qualified deferred compensation plan	$	34,354	$	—	$	—	$	34,354	$	—	$	—

Level 2(2):
Retirement and pension plan assets	12,584		1,252		11,332		—		—		—
Pension benefit obligation	(13,951)		—		—		—		(1,252)		(12,699)
Total Level 2	(1,367)		1,252		11,332		—		(1,252)		(12,699)





Total	$	32,987	$	1,252	$	11,332	$	34,354	$	(1,252)	$	(12,699)

(1)Level 1 – Quoted prices in active markets for identical assets and liabilities.

(2)Level 2 – Quoted prices in active markets for similar assets and liabilities, or other inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.

Contingent Consideration

The former owners of certain of the Company's acquired businesses are eligible to receive additional cash consideration based on the attainment of certain operating metrics in the periods subsequent to acquisition. Contingent consideration and compensation are valued using significant inputs that are not observable in the market, which are defined as Level 3 inputs pursuant to fair value measurement accounting. The Company determines the fair value of contingent consideration and compensation using using a variation of the income approach, known as the real options method. The significant unobservable inputs utilized in the real options method include (1) revenue forecasts; (2) operating expense forecasts; (3) the discount rate; and (4) volatility.

The following table provides a reconciliation of the beginning and ending balance of Level 3 liabilities for the year ended December 31, 2023:


	Earnout		Contingent Compensation
Balance at December 31, 2022	$	(36,010)	$	(8,192)
Purchase accounting (see Note 8, Acquisitions)	(36,266)		—
Earnout accretion	(1,554)		—
Compensation expense	—		(11,934)
Payments	35,946		2,038
Foreign currency translation	(717)		(790)
Balance at December 31, 2023	$	(38,601)	$	(18,878)

Earnout accruals of zero and $36.0 million are recorded within Current liabilities - Other current liabilities as of December 31, 2023, and 2022, respectively, and earnout accruals of $38.6 million and zero are recorded within Non-current liabilities - Other non-current liabilities as of December 31, 2023, and 2022, respectively. Contingent compensation accruals of $6.0 million and $1.5 million are recorded within Current liabilities - Accrued salaries and benefits as of December 31, 2023, and 2022, respectively, and contingent compensation accruals of $12.9 million and $6.7 million are recorded within Non-current liabilities - Accrued salaries and benefits as of December 31, 2023, and 2022, respectively.

Goodwill

Goodwill represents the difference between the purchase price of acquired companies and the related fair value of the net assets acquired, which is accounted for by the acquisition method of accounting. The Company performs assessments of the carrying value of goodwill at least annually and whenever events occur or circumstances indicate that a carrying amount of goodwill may not be recoverable. During the three months ended June 30, 2023, an interim goodwill impairment evaluation was conducted to determine the fair value of the Company's reporting units. As a result of this evaluation, the Company recorded an impairment charge of $7.2 million in the Heidrick Consulting reporting unit. During the 2023 fourth quarter, the Company conducted its annual goodwill impairment evaluation as of October 31, 2023, to determine the fair value of the Company's reporting units. As of October 31, 2023, the fair value of each reporting unit exceeded its carrying value. Goodwill is valued using significant inputs that are not observable in the market which are defined as Level 3 inputs pursuant to fair value measurement accounting. The Company determines the fair value of its reporting units using discounted cash flow models.

The following table provides a reconciliation of the beginning and ending balance of Level 3 assets for the year ended December 31, 2023:


	Goodwill
Balance at December 31, 2022	$	138,361
Acquired goodwill	69,444
Impairment	(7,246)
Foreign currency translation	1,693
Balance at December 31, 2023	$	202,252

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Summary of Significant Accounting Policies - Narrative (Detail) $ in Thousands	1 Months Ended	3 Months Ended	12 Months Ended
	Apr. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2023	Dec. 31, 2023 USD ($)	Dec. 31, 2023 reporting_unit	Dec. 31, 2023	Dec. 31, 2023 unit	Dec. 31, 2022
Goodwill [Line Items]
Cash and cash equivalents maximum maturity period			3 months
Concentration risk, customer			no					no
Number of reporting units					5		5
Acquired goodwill				$ 69,444
Impairment				7,246
Vesting period of deferred cash bonuses			3 years
Variation percentage of deferred cash bonuses						15.00%
Additional vesting period after deferral date for bonus payment			3 years
Heidrick Consulting
Goodwill [Line Items]
Impairment				7,246
Businessfourzero
Goodwill [Line Items]
Acquired goodwill		$ 7,100		7,073
Businessfourzero \| Heidrick Consulting
Goodwill [Line Items]
Acquired goodwill	$ 7,100			$ 7,073

Stock-Based Compensation

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

On May 25, 2023, the stockholders of the Company approved an amendment and restatement of the Company's Third Amended and Restated 2012 Heidrick & Struggles GlobalShare Program (as so amended and restated, the "Fourth A&R Program") to increase the number of shares of common stock reserved for issuance under the 2012 program by 1,060,000 shares. The Fourth A&R Program provides for grants of stock options, stock appreciation rights, restricted stock units, performance stock units, and other stock-based compensation awards that are valued based upon the grant date fair value of the awards. These awards may be granted to directors, selected employees and independent contractors.

As of December 31, 2023, 4,166,113 awards had been issued under the Fourth A&R Program, including 784,325 forfeited awards, and 1,028,212 shares remained available for future awards. The Fourth A&R Program provides that no awards can be granted after May 25, 2033.

The Company measures its stock-based compensation costs based on the grant date fair value of the awards and recognizes these costs in the financial statements over the requisite service period. The Company analyzes historical data of forfeited awards to develop an estimated forfeiture rate that is applied to the Company's stock-based compensation expense; however, all stock-based compensation expense is adjusted to reflect actual vestings and forfeitures.

A summary of information with respect to stock-based compensation is as follows:


	December 31,
	2023		2022		2021
Salaries and employee benefits (1)	$	10,633	$	14,651	$	20,081
General and administrative expenses	1,013		810		345
Income tax benefit related to stock-based compensation included in net income	3,220		4,263		5,539

Restricted Stock Units

Restricted stock units granted to employees are subject to ratable vesting over a three-year or four-year period dependent upon the terms of the individual grant. Compensation expense related to service-based restricted stock units is recognized on a straight-line basis over the vesting period.

Non-employee members of the Board of Directors may elect to receive restricted stock units or shares of common stock annually pursuant to the Fourth A&R Program as part of their annual compensation. Based on their respective elections, the Company issued 23,620 and 11,850 restricted stock units for services provided by the non-employee directors during the years ended December 31, 2023, and 2022, respectively. Restricted stock units issued to non-employee directors remain unvested until the respective non-employee directors retire from the Board of Directors.

Restricted stock unit activity for the years ended December 31, 2023, and 2022 is as follows:


	Number of Restricted Stock Units	Weighted- Average Grant-date Fair Value
Outstanding on December 31, 2021	727,651	$	31.32
Granted	287,954	34.05
Vested and converted to common stock	(273,565)	32.29
Forfeited	(13,755)	34.63
Outstanding on December 31, 2022	728,285	31.97
Granted	276,227	26.91
Vested and converted to common stock	(292,078)	31.08
Forfeited	(25,693)	31.54
Outstanding on December 31, 2023	686,741	$	30.33

As of December 31, 2023, there was $5.9 million of pre-tax unrecognized compensation expense related to unvested restricted stock units, which is expected to be recognized over a weighted average of 2.1 years.

Performance Stock Units

The Company grants performance stock units to certain of its senior executives. The performance stock units are generally subject to a cliff vesting at the end of a three-year period. The vesting will vary between 0% - 200% based on the attainment of certain performance metrics and market conditions over the three-year vesting period. Half of the award is based on the achievement of adjusted operating margin thresholds and half of the award is based on the Company's total shareholder return,

relative to a peer group. The fair value of the awards subject to total shareholder return metrics is determined using the Monte Carlo simulation model. A Monte Carlo simulation model uses stock price volatility and other variables to estimate the probability of satisfying the performance conditions and the resulting fair value of the award. The performance stock units are expensed on a straight-line basis over the three-year vesting period.

Performance share unit activity for the years ended December 31, 2023, and 2022 is as follows:


	Number of Performance Stock Units	Weighted- Average Grant-date Fair Value
Outstanding on December 31, 2021	232,857	$	39.88
Granted	97,379	49.59
Vested and converted to common stock	(69,784)	52.91
Forfeited	—	—
Outstanding on December 31, 2022	260,452	40.02
Granted	103,916	34.14
Vested and converted to common stock	(124,743)	31.51
Forfeited	—	—
Outstanding on December 31, 2023	239,625	$	41.91

As of December 31, 2023, there was $4.6 million of pre-tax unrecognized compensation expense related to unvested performance stock units, which is expected to be recognized over a weighted average of 1.8 years.

Phantom Stock Units

Phantom stock units are grants of phantom stock with respect to shares of the Company's common stock that are settled in cash and are subject to various restrictions, including restrictions on transferability, vesting and forfeiture provisions. Shares of phantom stock that do not vest for any reason will be forfeited by the recipient and will revert to the Company.

Phantom stock units are subject to vesting over a period of four years and certain other conditions, including continued service to the Company. As a result of the cash-settlement feature of the awards, the Company classifies the awards as liability awards, which are measured at fair value at each reporting date and the vested portion of the award is recognized as a liability to the extent that the service condition is deemed probable. The fair value of the phantom stock awards on the balance sheet date was determined using the closing share price of the Company's common stock on that date.

The Company recorded phantom stock-based compensation expense of $0.8 million, $1.2 million of income, and $7.8 million of expense for the years ended December 31, 2023, 2022 and 2021, respectively.

Phantom stock unit activity for the years ended December 31, 2023, and 2022 is as follows:


						Number of Phantom Stock Units
Outstanding on December 31, 2021						348,863
Granted						95,675
Vested						(119,333)
Forfeited						(4,050)
Outstanding on December 31, 2022						321,155
Granted						—
Vested						(115,180)
Forfeited						(18,674)
Outstanding on December 31, 2023						187,301

As of December 31, 2023, there was $1.0 million of pre-tax unrecognized compensation expense related to unvested phantom stock units, which is expected to be recognized over a weighted average of 2.3 years.

Common Stock

Non-employee members of the Board of Directors may elect to receive restricted stock units or shares of common stock annually pursuant to the Fourth A&R Program as part of their annual compensation. Based on their respective elections, the Company issued 16,134 and 11,850 shares of common stock for services provided by the non-employee directors during the years ended December 31, 2023, and 2022, respectively.

On February 11, 2008, the Company's Board of Directors authorized management to repurchase shares of the Company's common stock with an aggregate purchase price of up to $50 million (the "Repurchase Authorization"). From time to time and as business conditions warrant, the Company may purchase shares of its common stock on the open market or in negotiated or block trades. No time limit has been set for completion of this program. During the year ended December 31, 2023, the Company purchased 36,000 shares of common stock for $0.9 million. There were no purchases of shares of common stock in 2022, and prior to the 2023 purchase, the most recent purchase of the Company's shares of common stock occurred during the year ended December 31, 2012. As of December 31, 2023, the Company has purchased 1,074,670 shares of its common stock pursuant to the Repurchase Authorization for a total of $29.2 million and $20.8 million remains available for future purchases under the Repurchase Authorization.

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows - operating activities
Net income	$ 54,410	$ 79,486	$ 72,572
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	18,508	10,603	19,560
Deferred income taxes	11,900	7,088	(7,481)
Stock-based compensation expense	10,830	16,689	12,760
Accretion expense related to earnout payments	1,554	820	486
Impairment charges	7,246	0	0
Loss (gain) on marketable securities	(2,918)	(2,406)	(1)
Loss on disposal of property and equipment	209	392	135
Changes in assets and liabilities, net of effects of acquisitions:
Accounts receivable	6,913	4,522	(36,819)
Accounts payable	(131)	(5,731)	(332)
Accrued expenses	(145,118)	32,892	230,177
Restructuring accrual	0	0	(5,061)
Deferred revenue	2,035	(7,237)	12,783
Income taxes recoverable (payable), net	(6,692)	(13,606)	11,377
Retirement and pension plan assets and liabilities	7,493	(479)	1,145
Prepaid expenses	1,233	(2,850)	(2,776)
Other assets and liabilities, net	5,736	(895)	(37,124)
Net cash provided by (used in) operating activities	(26,792)	119,288	271,401
Cash flows - investing activities
Acquisition of businesses, net of cash acquired	(49,858)	0	(33,518)
Capital expenditures	(13,433)	(11,134)	(6,240)
Purchases of available for sale investments	(140,982)	(269,824)	(2,323)
Proceeds from sale of available for sale investments	337,872	1,359	20,822
Net cash provided by (used in) investing activities	133,599	(279,599)	(21,259)
Cash flows - financing activities
Cash dividends paid	(12,537)	(12,466)	(12,377)
Payment of employee tax withholding on equity transactions	(4,141)	(3,219)	(3,140)
Repurchases of common stock	(904)	0	0
Acquisition earnout payments	(35,946)	0	0
Net cash used in financing activities	(53,528)	(15,685)	(15,517)
Effect of exchange rates fluctuations on cash, cash equivalents and restricted cash	3,850	(13,774)	(5,855)
Net increase (decrease) in cash, cash equivalents and restricted cash	57,129	(189,770)	228,770
Cash, cash equivalents and restricted cash at beginning of period	355,489	545,259	316,489
Cash, cash equivalents and restricted cash at end of period	412,618	355,489	545,259
Cash paid for
Income taxes	$ 22,137	$ 41,910	$ 28,623

Credit Losses - Narrative (Details)	Dec. 31, 2023 position	Dec. 31, 2022 investment
Credit Loss [Abstract]
Number of positions in unrealized loss	0	1

Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule of Lease Cost

Lease cost components included within General and Administrative Expenses in our Consolidated Statements of Comprehensive Income for the year ended December 31, were as follows:


	December 31,
	2023		2022
Operating lease cost	$	19,587	$	17,408
Variable lease cost	9,225		6,116
Total lease cost	$	28,812	$	23,524

Supplemental cash flow information related to the Company's operating leases for the year ended December 31, is as follows:


	December 31,
	2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	20,856	$	18,865
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	34,982	$	18,055

Schedule of Weighted Average Information Related to Leases

The weighted average remaining lease term and weighted average discount rate for our operating leases as of December 31, is as follows:


	December 31,
	2023		2022
Weighted Average Remaining Lease Term
Operating leases	7.3 years		6.3 years
Weighted Average Discount Rate
Operating leases	4.82	%	3.48	%

Schedule of Future Maturities for Operating Leases

The future maturities of the Company's operating lease liabilities for the years ended December 31, is as follows:


	Operating Lease Maturity
2024	$	21,095
2025	16,384
2026	14,997
2027	14,698
2028	11,225
Thereafter	43,008
Total lease payments	121,407
Less: Interest	21,705
Present value of lease liabilities	$	99,702

Other Current Liabilities - Schedule of Other Non-Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Earnout liability	$ 38,601	$ 0
Other	3,207	5,293
Total other non-current liabilities	$ 41,808	$ 5,293

Basis of Presentation	12 Months Ended
Basis of Presentation	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Heidrick & Struggles International, Inc. and subsidiaries (the "Company) is a human capital leadership advisory firm providing executive search, consulting and on-demand talent services to businesses and business leaders worldwide to help them to improve the effectiveness of their leadership teams. We help our clients build leadership teams by facilitating the recruitment, management and development of senior executives. The Company operates globally, including Executive Search operating segments in the Americas, Europe and Asia Pacific. The consolidated financial statements include Heidrick & Struggles International, Inc. and its wholly owned subsidiaries and have been prepared using accounting principles generally accepted in the United States of America (“GAAP”). The preparation of these financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses. Significant items subject to estimates and assumptions include revenue recognition, allowances for deferred tax assets and liabilities, and the assessment of goodwill, other intangible assets and long-lived assets for impairment. Estimates are subject to a degree of uncertainty and actual results could differ from these estimates.

Segment Information - Schedule of Segment Reporting Information, by Segment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Revenue before reimbursements (net revenue)	$ 1,026,864	$ 1,073,464	$ 1,003,001
Total revenue	1,041,182	1,083,586	1,008,474
Adjusted EBITDA	125,617	120,878	128,988
Depreciation and amortization	18,508	10,603	19,560
Capital expenditures	13,433	11,134	6,240
Total Segments
Segment Reporting Information [Line Items]
Adjusted EBITDA	202,285	199,376	183,655
Depreciation and amortization	15,787	9,622	19,099
Capital expenditures	5,753	4,930
Executive Search Segment
Segment Reporting Information [Line Items]
Adjusted EBITDA	206,674	206,156	193,748
Depreciation and amortization	5,411	6,075	16,044
Capital expenditures	4,796	4,070	5,068
On-Demand Talent
Segment Reporting Information [Line Items]
Adjusted EBITDA	1,434	(336)	4,592
Depreciation and amortization	8,197	2,669	2,010
Capital expenditures	398	732	0
Heidrick Consulting
Segment Reporting Information [Line Items]
Adjusted EBITDA	(5,823)	(6,444)	(14,685)
Depreciation and amortization	2,179	878	1,045
Capital expenditures	559	128	174
Research And Development Segment
Segment Reporting Information [Line Items]
Adjusted EBITDA	(20,535)	(19,965)	0
Depreciation and amortization	2,073	524	0
Capital expenditures	7,170	4,878	0
Global Operations Support
Segment Reporting Information [Line Items]
Adjusted EBITDA	(56,133)	(58,533)	(54,667)
Depreciation and amortization	648	457	461
Capital expenditures	510	1,326	998
Service
Segment Reporting Information [Line Items]
Revenue before reimbursements (net revenue)	1,026,864	1,073,464	1,003,001
Service \| Executive Search Segment
Segment Reporting Information [Line Items]
Revenue before reimbursements (net revenue)	780,045	901,922	868,760
Service \| On-Demand Talent
Segment Reporting Information [Line Items]
Revenue before reimbursements (net revenue)	152,506	91,349	66,636
Service \| Heidrick Consulting
Segment Reporting Information [Line Items]
Revenue before reimbursements (net revenue)	94,313	80,193	67,605
Reimbursements
Segment Reporting Information [Line Items]
Revenue before reimbursements (net revenue)	14,318	10,122	5,473
Americas \| Executive Search Segment
Segment Reporting Information [Line Items]
Adjusted EBITDA	173,358	164,193	154,087
Depreciation and amortization	3,092	3,498	12,843
Capital expenditures	2,351	1,890	4,487
Americas \| Service \| Executive Search Segment
Segment Reporting Information [Line Items]
Revenue before reimbursements (net revenue)	522,988	612,881	581,440
Europe \| Executive Search Segment
Segment Reporting Information [Line Items]
Adjusted EBITDA	22,246	22,150	20,219
Depreciation and amortization	1,343	1,451	1,802
Capital expenditures	1,827	683	372
Europe \| Service \| Executive Search Segment
Segment Reporting Information [Line Items]
Revenue before reimbursements (net revenue)	166,379	176,275	170,312
Asia Pacific \| Total Segments
Segment Reporting Information [Line Items]
Capital expenditures			5,242
Asia Pacific \| Executive Search Segment
Segment Reporting Information [Line Items]
Adjusted EBITDA	11,070	19,813	19,442
Depreciation and amortization	976	1,126	1,399
Capital expenditures	618	1,497	209
Asia Pacific \| Service \| Executive Search Segment
Segment Reporting Information [Line Items]
Revenue before reimbursements (net revenue)	$ 90,678	$ 112,766	$ 117,008

Revenue

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Revenue

Executive Search

Revenue is recognized as performance obligations are satisfied by transferring a good or service to a client. Generally, each executive search contract contains one performance obligation which is the process of identifying potentially qualified candidates for a specific client position. In most contracts, the transaction price includes both fixed and variable consideration. Fixed compensation is comprised of a retainer, equal to approximately one-third of the estimated first year compensation for the position to be filled, and indirect expenses, equal to a specified percentage of the retainer, as defined in the contract. The Company generally bills clients for the retainer and indirect expenses in one-third increments over a three-month period commencing in the month of a client’s acceptance of the contract. If actual compensation of a placed candidate exceeds the original compensation estimate, the Company is often authorized to bill the client for one-third of the excess compensation. The Company refers to this additional billing as uptick revenue. In most contracts, variable consideration is comprised of uptick revenue and direct expenses. The Company bills its clients for uptick revenue upon completion of the executive search, and direct expenses are billed as incurred.

The Company estimates uptick revenue at contract inception, based on a portfolio approach, utilizing the expected value method based on a historical analysis of uptick revenue realized in the Company’s geographic regions and industry practices, and initially records a contract’s uptick revenue in an amount that is probable not to result in a significant reversal of cumulative revenue recognized when the actual amount of uptick revenue for the contract is known. Differences between the estimated and actual amounts of variable consideration are recorded when known. The Company does not estimate revenue for direct expenses as it is not materially different than recognizing revenue as direct expenses are incurred.

Revenue from executive search engagement performance obligations is recognized over time as clients simultaneously receive and consume the benefits provided by the Company's performance. Revenue from executive search engagements is

recognized over the expected average period of performance, in proportion to the estimated personnel time incurred to fulfill the obligations under the executive search contract. Revenue is generally recognized over a period of approximately six months.

The Company's executive search contracts contain a replacement guarantee which provides for an additional search to be completed, free of charge except for expense reimbursements, should the candidate presented by the Company be hired by the client and subsequently terminated by the client for performance reasons within a specified period of time. The replacement guarantee is an assurance warranty, which is not a performance obligation under the terms of the executive search contract, as the Company does not provide any services under the terms of the guarantee that transfer benefits to the client in excess of assuring that the identified candidate complies with the agreed-upon specifications. The Company accounts for the replacement guarantee under the relevant warranty guidance in ASC 460 - Guarantees.

On-Demand Talent

The Company enters into contracts with clients that outline the general terms and conditions of the assignment to provide on-demand consultants for various types of consulting projects, which consultants may be independent contractors or temporary employees. The consideration the Company expects to receive under each contract is dependent on the time-based fees specified in the contract. Revenue from on-demand engagement performance obligations is recognized over time as clients simultaneously receive and consume the benefits provided by the Company's performance. The Company has applied the practical expedient to recognize revenue for these services in the amount to which the Company has a right to invoice the client, as this amount corresponds directly with the value provided to the client for the performance completed to date. For transactions where a third-party contractor is involved in providing the services to the client, the Company reports the revenue and the related direct costs on a gross basis as it has determined that it is the principal in the transaction. The Company is primarily responsible for fulfilling the promise to provide consulting services to its clients and the Company has discretion in establishing the prices charged to clients for the consulting services and is able to contractually obligate the independent service provider to deliver services and deliverables that the Company has agreed to provide to its clients.

Heidrick Consulting

Revenue is recognized as performance obligations are satisfied by transferring a good or service to a client. Heidrick Consulting enters into contracts with clients that outline the general terms and conditions of the assignment to provide succession planning, executive assessment, top team and board effectiveness and culture shaping programs. The consideration the Company expects to receive under each contract is generally fixed. Most of the Company's consulting contracts contain one performance obligation, which is the overall process of providing the consulting service requested by the client. The majority of our consulting revenue is recognized over time utilizing input methods. Revenue recognition over time for the majority of our consulting engagements is measured by total cost or time incurred as a percentage of the total estimated cost or time on the consulting engagement.

Contract Balances

Contract assets and liabilities are reported in a net position on a contract-by-contract basis at the end of each reporting period. Contract assets and liabilities are classified as current due to the nature of the Company's contracts, which are completed within one year. Contract assets are included within Other current assets on the Consolidated Balance Sheets.

Unbilled receivables: Unbilled receivables represents contract assets from revenue recognized over time in excess of the amount billed to the client and the amount billed to the client is solely dependent upon the passage of time. This amount includes revenue recognized in excess of billed executive search retainers and Heidrick Consulting fees.

Contract assets: Contract assets represent revenue recognized over time in excess of the amount billed to the client and the amount billed to the client is not solely subject to the passage of time. This amount primarily includes revenue recognized for upticks and contingent placement fees in executive search contracts.

Deferred revenue: Contract liabilities consist of deferred revenue, which is equal to billings in excess of revenue recognized.

The following table outlines the changes in our contract asset and liability balances for the years ended:


	December 31,
	2023		2022		Change
Contract assets
Unbilled receivables, net	$	15,318	$	13,940	$	1,378
Contract assets	16,774		21,348		(4,574)
Total contract assets	32,092		35,288		(3,196)

Contract liabilities
Deferred revenue	$	45,732	$	43,057	$	2,675

During the year ended December 31, 2023, we recognized revenue of $39.4 million that was included in the contract liabilities balance at the beginning of the period. The amount of revenue recognized during the year ended December 31, 2023, from performance obligations partially satisfied in previous periods as a result of changes in the estimates of variable consideration was $19.9 million.

Each of the Company's contracts with clients has an expected duration of one year or less. Accordingly, the Company has elected to utilize the available practical expedient related to the disclosure of the transaction price allocated to the remaining performance obligations under its contracts. The Company has also elected the available practical expedients related to adjusting for the effects of a significant financing component and the capitalization of contract acquisition costs. The Company charges and collects from its clients, sales tax and value added taxes as required by certain jurisdictions. The Company has made an accounting policy election to exclude these items from the transaction price in its contracts.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

Segment Information

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Segment Information

The Company has five operating segments. The executive search business operates in the Americas, Europe (which includes Africa) and Asia Pacific (which includes the Middle East), and the Heidrick Consulting and On-Demand Talent businesses operate globally.

In 2023, the Company changes its measure of segment profitability from operating income to Adjusted EBITDA. The following tables include Adjusted EBITDA, which is the measure of segment profitability reported to the chief operating decision maker for purposes of allocating resources to the segments and assessing their performance. For segment purposes, reimbursements of out-of-pocket expenses classified as revenue and other operating income are reported separately and, therefore, are not included in the results of each segment. The Company believes that analyzing trends in revenue before reimbursements (net revenue), analyzing operating expenses as a percentage of net revenue, and analyzing Adjusted EBITDA, and Adjusted EBITDA margin more appropriately reflect its core operations.

The Company evaluates performance and allocates resources based on the chief operating decision maker’s review of (1) net revenue and (2) net income before interest, taxes, depreciation and amortization, as adjusted, to the extent they occur, for

earnout accretion, earnout fair value adjustments, contingent compensation, deferred compensation plan income or expense, certain reorganization costs, impairment charges and restructuring charges ("Adjusted EBITDA"). Adjusted EBITDA margin is defined as Adjusted EBITDA as a percentage of revenue in the same period.


	December 31,
	2023			2022			2021
Revenue before reimbursements (net revenue)	$	1,026,864		$	1,073,464		$	1,003,001

Net income	54,410			79,486			72,572
Interest, net	(11,617)			(5,337)			(302)
Other, net	(1,697)			2,367			(7,463)
Provision for income taxes	34,261			35,750			33,457
Operating income	75,357			112,266			98,264

Adjustments
Depreciation	9,113			7,394			7,150
Intangible amortization	9,395			3,209			2,898
Earnout accretion	1,554			820			486
Earnout fair value adjustments	—			(464)			11,368
Acquisition contingent consideration	11,934			3,885			1,973
Deferred compensation plan	6,132			(6,232)			3,057
Reorganization costs	4,886			—			—
Impairment charges	7,246			—			—
Restructuring charges	—			—			3,792
Total adjustments	50,260			8,612			30,724

Adjusted EBITDA	$	125,617		$	120,878		$	128,988
Adjusted EBITDA margin	12.2		%	11.3		%	12.9		%

The revenue, adjusted EBITDA, depreciation and amortization, and capital expenditures, by segment, are as follows:


	December 31,
	2023		2022		2021
Revenue
Executive Search
Americas	$	522,988	$	612,881	$	581,440
Europe	166,379		176,275		170,312
Asia Pacific	90,678		112,766		117,008
Total Executive Search	780,045		901,922		868,760
On-Demand Talent	152,506		91,349		66,636
Heidrick Consulting	94,313		80,193		67,605
Revenue before reimbursements	1,026,864		1,073,464		1,003,001
Reimbursements	14,318		10,122		5,473
Total revenue	$	1,041,182	$	1,083,586	$	1,008,474

Adjusted EBITDA
Executive Search
Americas	$	173,358	$	164,193	$	154,087
Europe	22,246		22,150		20,219
Asia Pacific	11,070		19,813		19,442
Total Executive Search	206,674		206,156		193,748
On-Demand Talent	1,434		(336)		4,592
Heidrick Consulting	(5,823)		(6,444)		(14,685)
Total segments	202,285		199,376		183,655
Research and development	(20,535)		(19,965)		—
Global Operations Support	(56,133)		(58,533)		(54,667)
Total adjusted EBITDA	$	125,617	$	120,878	$	128,988

Depreciation and amortization
Executive Search
Americas	$	3,092	$	3,498	$	12,843
Europe	1,343		1,451		1,802
Asia Pacific	976		1,126		1,399
Total Executive Search	5,411		6,075		16,044
On-Demand Talent	8,197		2,669		2,010
Heidrick Consulting	2,179		878		1,045
Total segments	15,787		9,622		19,099
Research and development	2,073		524		—
Global Operations Support	648		457		461
Total depreciation and amortization	$	18,508	$	10,603	$	19,560

Capital expenditures
Executive Search
Americas	$	2,351	$	1,890	$	4,487
Europe	1,827		683		372
Asia Pacific	618		1,497		209
Total Executive Search	4,796		4,070		5,068
On-Demand Talent	398		732		—
Heidrick Consulting	559		128		174
Total segments	5,753		4,930		5,242
Research and development	7,170		4,878		—
Global Operations Support	510		1,326		998
Total capital expenditures	$	13,433	$	11,134	$	6,240

Identifiable assets, and goodwill and other intangible assets, net, by segment, are as follows:


	December 31,
	2023		2022
Current assets
Executive Search
Americas	$	360,111	$	566,015
Europe	139,803		82,935
Asia Pacific	92,071		104,445
Total Executive Search	591,985		753,395
On-Demand Talent	37,224		20,237
Heidrick Consulting	53,334		47,154
Total segments	682,543		820,786
Global Operations Support	10,671		3,033
Total allocated current assets	693,214		823,819
Unallocated non-current assets	225,283		207,125
Goodwill and other intangible assets, net
Executive Search
Americas	91,762		91,434
Europe	1,589		1,665
Asia Pacific	—		15
Total Executive Search	93,351		93,114
On-Demand Talent	126,707		51,580
Heidrick Consulting	3,036		—
Total goodwill and other intangible assets, net	223,094		144,694
Total assets	$	1,141,591	$	1,175,638

The only country to account for more than 10% of the Company's net revenue and total long-lived assets is the United States. Net revenue in the United States for the years ended December 31, 2023, 2022, and 2021 was $602.6 million, $703.7 million, and $650.9 million, respectively. Total long-lived assets in the United States as of December 31, 2023, and 2022 were $250.6 million and $260.6 million, respectively.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Property and Equipment, net (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment

Property and Equipment

Property and equipment are stated at cost. Depreciation is computed using the straight-line method over the estimated useful life of the asset or, for leasehold improvements, the shorter of the lease term or the estimated useful life of the asset, as follows:


Office furniture, fixtures and equipment						5–10 years
Computer equipment and software						3–7 years

The components of the Company’s property and equipment are as follows:


	December 31,
	2023		2022
Leasehold improvements	$	45,050	$	40,829
Office furniture, fixtures and equipment	14,775		14,322
Computer equipment and software	38,798		30,085
Property and equipment, gross	98,623		85,236
Accumulated depreciation	(62,871)		(55,029)
Property and equipment, net	$	35,752	$	30,207

Pension Plan and Life Insurance Contract - Schedule of Amounts Recognized in Balance Sheet (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Retirement Benefits [Abstract]
Current liabilities	$ 1,289	$ 1,252
Non-current liabilities	13,127	12,699
Total	$ 14,416	$ 13,951

Income Taxes - Schedule of Reconciliation of Amounts of Gross Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Unrecognized Tax Benefits Reconciliation [Roll Forward]
Gross unrecognized tax benefits at January 1,	$ 0	$ 0	$ 416
Gross increases for tax positions of prior years	0	0	6
Gross decreases for tax positions of prior years	0	0	(14)
Settlements	0	0	(408)
Gross unrecognized tax benefits at December 31,	$ 0	$ 0	$ 0

Segment Information (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment


	December 31,
	2023			2022			2021
Revenue before reimbursements (net revenue)	$	1,026,864		$	1,073,464		$	1,003,001

Net income	54,410			79,486			72,572
Interest, net	(11,617)			(5,337)			(302)
Other, net	(1,697)			2,367			(7,463)
Provision for income taxes	34,261			35,750			33,457
Operating income	75,357			112,266			98,264

Adjustments
Depreciation	9,113			7,394			7,150
Intangible amortization	9,395			3,209			2,898
Earnout accretion	1,554			820			486
Earnout fair value adjustments	—			(464)			11,368
Acquisition contingent consideration	11,934			3,885			1,973
Deferred compensation plan	6,132			(6,232)			3,057
Reorganization costs	4,886			—			—
Impairment charges	7,246			—			—
Restructuring charges	—			—			3,792
Total adjustments	50,260			8,612			30,724

Adjusted EBITDA	$	125,617		$	120,878		$	128,988
Adjusted EBITDA margin	12.2		%	11.3		%	12.9		%

The revenue, adjusted EBITDA, depreciation and amortization, and capital expenditures, by segment, are as follows:


	December 31,
	2023		2022		2021
Revenue
Executive Search
Americas	$	522,988	$	612,881	$	581,440
Europe	166,379		176,275		170,312
Asia Pacific	90,678		112,766		117,008
Total Executive Search	780,045		901,922		868,760
On-Demand Talent	152,506		91,349		66,636
Heidrick Consulting	94,313		80,193		67,605
Revenue before reimbursements	1,026,864		1,073,464		1,003,001
Reimbursements	14,318		10,122		5,473
Total revenue	$	1,041,182	$	1,083,586	$	1,008,474

Adjusted EBITDA
Executive Search
Americas	$	173,358	$	164,193	$	154,087
Europe	22,246		22,150		20,219
Asia Pacific	11,070		19,813		19,442
Total Executive Search	206,674		206,156		193,748
On-Demand Talent	1,434		(336)		4,592
Heidrick Consulting	(5,823)		(6,444)		(14,685)
Total segments	202,285		199,376		183,655
Research and development	(20,535)		(19,965)		—
Global Operations Support	(56,133)		(58,533)		(54,667)
Total adjusted EBITDA	$	125,617	$	120,878	$	128,988

Depreciation and amortization
Executive Search
Americas	$	3,092	$	3,498	$	12,843
Europe	1,343		1,451		1,802
Asia Pacific	976		1,126		1,399
Total Executive Search	5,411		6,075		16,044
On-Demand Talent	8,197		2,669		2,010
Heidrick Consulting	2,179		878		1,045
Total segments	15,787		9,622		19,099
Research and development	2,073		524		—
Global Operations Support	648		457		461
Total depreciation and amortization	$	18,508	$	10,603	$	19,560

Capital expenditures
Executive Search
Americas	$	2,351	$	1,890	$	4,487
Europe	1,827		683		372
Asia Pacific	618		1,497		209
Total Executive Search	4,796		4,070		5,068
On-Demand Talent	398		732		—
Heidrick Consulting	559		128		174
Total segments	5,753		4,930		5,242
Research and development	7,170		4,878		—
Global Operations Support	510		1,326		998
Total capital expenditures	$	13,433	$	11,134	$	6,240

Reconciliation of Assets from Segment to Consolidated

Identifiable assets, and goodwill and other intangible assets, net, by segment, are as follows:


	December 31,
	2023		2022
Current assets
Executive Search
Americas	$	360,111	$	566,015
Europe	139,803		82,935
Asia Pacific	92,071		104,445
Total Executive Search	591,985		753,395
On-Demand Talent	37,224		20,237
Heidrick Consulting	53,334		47,154
Total segments	682,543		820,786
Global Operations Support	10,671		3,033
Total allocated current assets	693,214		823,819
Unallocated non-current assets	225,283		207,125
Goodwill and other intangible assets, net
Executive Search
Americas	91,762		91,434
Europe	1,589		1,665
Asia Pacific	—		15
Total Executive Search	93,351		93,114
On-Demand Talent	126,707		51,580
Heidrick Consulting	3,036		—
Total goodwill and other intangible assets, net	223,094		144,694
Total assets	$	1,141,591	$	1,175,638

Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill

The Company's goodwill by segment (for the segments that had recorded goodwill) is as follows:


	December 31, 2023		December 31, 2022
Executive Search
Americas	$	91,740	$	91,383
Europe	1,494		1,449

Total Executive Search	93,234		92,832
On-Demand Talent	109,018		45,529



Total goodwill	$	202,252	$	138,361

Changes in the carrying amount of goodwill by segment for the years ended December 31, 2023, 2022, and 2021 were as follows:


	Executive Search
	Americas		Europe		Asia Pacific		On-Demand Talent		Heidrick Consulting		Total
Goodwill	$	91,643	$	24,475	$	8,495	$	—	$	—	$	124,613
Accumulated impairment losses	—		(24,475)		(8,495)		—		—		(32,970)
Balance at December 31, 2020	91,643		—		—		—		—		91,643

BTG acquisition	—		—		—		45,529		—		45,529
Finland acquisition	—		1,532		—		—		—		1,532
Foreign currency translation	(180)		—		—		—		—		(180)
Balance at December 31, 2021	91,463		1,532		—		45,529		—		138,524

Foreign currency translation	(80)		(83)		—		—		—		(163)
Balance at December 31, 2022	91,383		1,449		—		45,529		—		138,361

Atreus acquisition	—		—		—		62,371		—		62,371
businessfourzero acquisition	—		—		—		—		7,073		7,073
Impairment	—		—		—		—		(7,246)		(7,246)
Foreign currency translation	357		45		—		1,118		173		1,693

Goodwill	91,740		25,969		8,495		109,018		7,246		242,468
Accumulated impairment losses	—		(24,475)		(8,495)		—		(7,246)		(40,216)
Balance at December 31, 2023	$	91,740	$	1,494	$	—	$	109,018	$	—	$	202,252

In February 2023, the Company acquired Atreus and recorded $62.4 million of goodwill related to the acquisition in the On-Demand Talent operating segment. In April 2023, the Company acquired businessfourzero and recorded $7.1 million of goodwill related to the acquisition in the Heidrick Consulting operating segment. In April 2021, the Company acquired Business Talent Group ("BTG") and recorded $45.5 million of goodwill related to the acquisition in the On-Demand Talent operating segment. In October 2021, the Company acquired H&S Finland, and recorded $1.5 million of goodwill related to the acquisition in the Europe operating segment.

During the three months ended December 31, 2023, the Company conducted its annual goodwill impairment evaluation as of October 31, 2023, in accordance with ASU No. 2017-04, Intangibles - Goodwill and Other. The goodwill impairment test is completed by comparing the fair value of a reporting unit with its carrying amount. An impairment charge is recognized for the amount by which the carrying value of the reporting unit exceeds its fair value; however, the loss recognized is not to exceed the total amount of goodwill allocated to that reporting unit.

The impairment test is considered for each of the Company’s reporting units that has goodwill as defined in the accounting standard for goodwill and intangible assets. The Company operates five reporting units: Americas, Europe (which includes Africa), Asia Pacific (which includes the Middle East), On-Demand Talent, and Heidrick Consulting. As of October 31, 2023, only the Americas, Europe, and On-Demand Talent reporting units had recorded goodwill.

During the impairment evaluation process, the Company used a discounted cash flow methodology to estimate the fair value of each of its reporting units with goodwill. The discounted cash flow approach is dependent on a number of factors, including estimates of future market growth and trends, forecasted revenue and costs, capital investments, appropriate discount rates, certain assumptions to allocate shared costs, assets and liabilities, historical and projected performance of the reporting unit and the macroeconomic conditions affecting each of the Company’s reporting units. The assumptions used in the determination of fair value were (1) a forecast of growth in the near and long term; (2) the discount rate; (3) working capital investments; and (4) other factors.

Based on the results of the impairment analysis, the fair values of the Americas, Europe, and On-Demand Talent reporting units exceeded their carrying values by 258%, 3% and 6%, respectively. The results of the impairment test are sensitive to the assumptions used in the determination of fair value of the reporting units and the fair value of a reporting unit may deteriorate and could result in the need to record an impairment charge in future periods. The Company continually monitors for potential triggering events including changes in the business climate in which it operates, the Company's market capitalization compared to is book value, and the Company's recent operating performance. Any changes in these factors could result in an impairment charge.

During the three months ended June 30, 2023, the Company acquired businessfourzero and recorded approximately $7.1 million of goodwill in the Heidrick Consulting reporting unit. Due to the inclusion of goodwill in a reporting unit with a pre-existing fair value shortfall, the Company evaluated the recent and anticipated future financial performance of the Heidrick Consulting reporting unit and determined that it was more likely than not that the fair value of the reporting unit was less than its carrying value. As a result, the Company identified a triggering event and performed an interim goodwill impairment evaluation during the three months ended June 30, 2023.

Based on the results of the impairment evaluation, the Company determined that the goodwill within the Heidrick Consulting reporting unit was impaired, which resulted in an impairment charge of $7.2 million to write off all of the associated goodwill. The impairment charge is recorded within Impairment charges in the Consolidated Statements of Comprehensive Income for the year ended December 31, 2023, and the Consolidated Statements of Cash Flows for the year ended December 31, 2023. The impairment was non-cash in nature and did not affect the Company's current liquidity, cash flows, borrowing capability or operations, nor did it impact the debt covenants under the Company's credit agreement.

Other Intangible Assets, net

The Company’s other intangible assets, net by segment, are as follows:


	December 31, 2023		December 31, 2022
Executive Search
Americas	$	22	$	51
Europe	95		216
Asia Pacific	—		15
Total Executive Search	117		282
On-Demand Talent	17,689		6,051
Heidrick Consulting	3,036		—
Total other intangible assets, net	$	20,842	$	6,333

In February 2023, the Company acquired Atreus and recorded customer relationships short-term, customer relationships long-term, software and trade name intangible assets in the On-Demand Talent operating segment of $6.0 million, $5.3 million, $5.4 million, and $2.5 million, respectively. The combined estimated weighted-average amortization period for the acquired intangible assets is 6.7 years with estimated amortization periods of 5.0, 14.0, 3.0 and 3.0 years for the customer relationships short-term, customer relationships long-term, software and trade name, respectively. In April 2023, the Company acquired businessfourzero and recorded customer relationships and trade name intangible assets in the Heidrick Consulting operating segment of $3.5 million and $0.5 million, respectively. The combined estimated weighted-average amortization period for the acquired intangible assets is 8.3 years with estimated amortization periods of 9.0 and 3.0 years for the customer relationships and trade name intangible assets, respectively.

The carrying amount of amortizable intangible assets and the related accumulated amortization were as follows:


		December 31, 2023						December 31, 2022
	Weighted Average Life (in years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Client relationships	9.9	$	26,195	$	(11,443)	$	14,752	$	10,720	$	(6,164)	$	4,556
Trade name	3.0	5,067		(3,069)		$	1,998	2,406		(1,925)		481
Software	3.0	8,629		(4,537)		4,092		3,110		(1,814)		1,296
Total intangible assets	7.9	$	39,891	$	(19,049)	$	20,842	$	16,236	$	(9,903)	$	6,333

Intangible asset amortization expense for the years ended December 31, 2023, 2022, and 2021, was $9.4 million, $3.2 million and $2.9 million, respectively.

The Company's estimated future amortization expense related to intangible assets as of December 31, 2023, for the years ended December 31, is as follows:


2024	$	7,780
2025	5,971
2026	2,525
2027	1,534
2028	897
Thereafter	2,135
Total	$	20,842

Restructuring - Schedule of Restructuring Charges by Segment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 0	$ 0	$ 3,792,000
Restructuring and related cost	56,164,000
Employee related
Restructuring Cost and Reserve [Line Items]
Restructuring charges			(183,000)
Restructuring and related cost	32,597,000
Office related
Restructuring Cost and Reserve [Line Items]
Restructuring charges			3,962,000
Restructuring and related cost	22,872,000
Other
Restructuring Cost and Reserve [Line Items]
Restructuring charges			13,000
Restructuring and related cost	695,000
Corporate, Non-Segment
Restructuring Cost and Reserve [Line Items]
Restructuring charges			(224,000)
Restructuring and related cost	3,795,000
Corporate, Non-Segment \| Employee related
Restructuring Cost and Reserve [Line Items]
Restructuring charges			62,000
Restructuring and related cost	1,416,000
Corporate, Non-Segment \| Office related
Restructuring Cost and Reserve [Line Items]
Restructuring charges			(296,000)
Restructuring and related cost	1,819,000
Corporate, Non-Segment \| Other
Restructuring Cost and Reserve [Line Items]
Restructuring charges			10,000
Restructuring and related cost	560,000
Heidrick Consulting \| Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges			355,000
Restructuring and related cost	5,012,000
Heidrick Consulting \| Operating Segments \| Employee related
Restructuring Cost and Reserve [Line Items]
Restructuring charges			(44,000)
Restructuring and related cost	2,589,000
Heidrick Consulting \| Operating Segments \| Office related
Restructuring Cost and Reserve [Line Items]
Restructuring charges			399,000
Restructuring and related cost	2,352,000
Heidrick Consulting \| Operating Segments \| Other
Restructuring Cost and Reserve [Line Items]
Restructuring charges			0
Restructuring and related cost	71,000
Americas \| Executive Search \| Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges			3,882,000
Restructuring and related cost	34,361,000
Americas \| Executive Search \| Operating Segments \| Employee related
Restructuring Cost and Reserve [Line Items]
Restructuring charges			20,000
Restructuring and related cost	16,226,000
Americas \| Executive Search \| Operating Segments \| Office related
Restructuring Cost and Reserve [Line Items]
Restructuring charges			3,859,000
Restructuring and related cost	18,101,000
Americas \| Executive Search \| Operating Segments \| Other
Restructuring Cost and Reserve [Line Items]
Restructuring charges			3,000
Restructuring and related cost	34,000
Europe \| Executive Search \| Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges			(97,000)
Restructuring and related cost	8,506,000
Europe \| Executive Search \| Operating Segments \| Employee related
Restructuring Cost and Reserve [Line Items]
Restructuring charges			(97,000)
Restructuring and related cost	8,256,000
Europe \| Executive Search \| Operating Segments \| Office related
Restructuring Cost and Reserve [Line Items]
Restructuring charges			0
Restructuring and related cost	226,000
Europe \| Executive Search \| Operating Segments \| Other
Restructuring Cost and Reserve [Line Items]
Restructuring charges			0
Restructuring and related cost	24,000
Asia Pacific \| Executive Search \| Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges			(124,000)
Restructuring and related cost	4,490,000
Asia Pacific \| Executive Search \| Operating Segments \| Employee related
Restructuring Cost and Reserve [Line Items]
Restructuring charges			(124,000)
Restructuring and related cost	4,110,000
Asia Pacific \| Executive Search \| Operating Segments \| Office related
Restructuring Cost and Reserve [Line Items]
Restructuring charges			0
Restructuring and related cost	374,000
Asia Pacific \| Executive Search \| Operating Segments \| Other
Restructuring Cost and Reserve [Line Items]
Restructuring charges			$ 0
Restructuring and related cost	$ 6,000

Changes in Accumulated Other Comprehensive Income (Tables)

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Schedule of Changes in Accumulated Other Comprehensive Income by Component

The changes in Accumulated other comprehensive income (“AOCI”) by component for the year ended December 31, 2023, are summarized below:


	Available- for- Sale Securities		Foreign Currency Translation		Pension		AOCI
Balance at December 31, 2022	$	(41)	$	(4,163)	$	15	$	(4,189)
Other comprehensive income (loss) before classification, net of tax	83		4,810		(575)		4,318



Balance at December 31, 2023	$	42	$	647	$	(560)	$	129

Financial Instruments and Fair Value - Schedule of Unrealized Gain (Loss) on Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 412,618	$ 355,447	$ 545,225
Amortized Cost	242,228	312,121
Unrealized Gains	42	15
Unrealized Losses		(56)
Fair Value	242,270	312,080
Marketable Securities	65,538	266,169
Cash
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents		247,198
Marketable Securities	0	0
Fair Value, Inputs, Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	190,638	108,249
Amortized Cost	242,228	312,121
Unrealized Gains	42	15
Unrealized Losses		(56)
Fair Value	242,270	312,080
Marketable Securities	65,538	266,169
Fair Value, Inputs, Level 1 \| Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	13,906	62,338
Marketable Securities
Fair Value, Inputs, Level 1 \| U.S. Treasury securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	176,732	45,911
Amortized Cost	242,228	312,121
Unrealized Gains	42	15
Unrealized Losses		(56)
Fair Value	242,270	312,080
Marketable Securities	65,538	$ 266,169
Cash
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 221,980

Line of Credit - Narrative (Detail) - The Credit Agreement - Line of Credit - USD ($)	Feb. 24, 2023	Dec. 31, 2023	Feb. 23, 2023	Dec. 31, 2022
Revolving Credit Facility
Line of Credit Facility [Line Items]
Borrowing amount under term loan facility	$ 200,000,000		$ 175,000,000
Expansion borrowing capacity	75,000,000
Outstanding borrowings		$ 0		$ 0
Letter of Credit
Line of Credit Facility [Line Items]
Borrowing amount under term loan facility	25,000,000
Bridge Loan
Line of Credit Facility [Line Items]
Borrowing amount under term loan facility	$ 10,000,000

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2023
Audit Information [Abstract]
Auditor Firm ID	49
Auditor Name	RSM US LLP
Auditor Location	Chicago, Illinois

Other Current Liabilities

12 Months Ended

Dec. 31, 2023

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other Current Liabilities

The components of other current liabilities are as follows:


	December 31, 2023		December 31, 2022
Earnout liability	$	—	$	36,010
Other	21,823		20,006
Total other current liabilities	$	21,823	$	56,016

The components of other non-current liabilities are as follows:


	December 31, 2023		December 31, 2022
Earnout liability	$	38,601	$	—
Other	3,207		5,293
Total other non-current liabilities	$	41,808	$	5,293

Pension Plan and Life Insurance Contract - Schedule of Assumptions Used (Detail)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Retirement Benefits [Abstract]
Discount rate	3.45%	4.09%	1.03%
Rate of compensation increase	0.00%	0.00%	0.00%
Measurement date	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021

Goodwill and Other Intangible Assets - Schedule of Goodwill by Segment (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Goodwill [Line Items]
Goodwill	$ 202,252	$ 138,361	$ 138,524	$ 91,643
Executive Search
Goodwill [Line Items]
Goodwill	93,234	92,832
Executive Search \| Americas
Goodwill [Line Items]
Goodwill	91,740	91,383	91,463	91,643
Executive Search \| Europe
Goodwill [Line Items]
Goodwill	1,494	1,449	1,532	0
On-Demand Talent
Goodwill [Line Items]
Goodwill	$ 109,018	$ 45,529	$ 45,529	$ 0

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

Segment Information - Schedule of Assets by Segment (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Goodwill And Identifiable Intangible Assets [Line Items]
Total allocated current assets	$ 693,214	$ 823,819
Unallocated non-current assets	225,283	207,125
Total goodwill and other intangible assets, net	223,094	144,694
Total assets	1,141,591	1,175,638
Total Segments
Goodwill And Identifiable Intangible Assets [Line Items]
Total allocated current assets	682,543	820,786
Executive Search
Goodwill And Identifiable Intangible Assets [Line Items]
Total allocated current assets	591,985	753,395
Total goodwill and other intangible assets, net	93,351	93,114
On-Demand Talent
Goodwill And Identifiable Intangible Assets [Line Items]
Total allocated current assets	37,224	20,237
Total goodwill and other intangible assets, net	126,707	51,580
Heidrick Consulting
Goodwill And Identifiable Intangible Assets [Line Items]
Total allocated current assets	53,334	47,154
Total goodwill and other intangible assets, net	3,036	0
Global Operations Support
Goodwill And Identifiable Intangible Assets [Line Items]
Total allocated current assets	10,671	3,033
Americas \| Executive Search
Goodwill And Identifiable Intangible Assets [Line Items]
Total allocated current assets	360,111	566,015
Total goodwill and other intangible assets, net	91,762	91,434
Europe \| Executive Search
Goodwill And Identifiable Intangible Assets [Line Items]
Total allocated current assets	139,803	82,935
Total goodwill and other intangible assets, net	1,589	1,665
Asia Pacific \| Executive Search
Goodwill And Identifiable Intangible Assets [Line Items]
Total allocated current assets	92,071	104,445
Total goodwill and other intangible assets, net	$ 0	$ 15

Restructuring - Schedule of Restructuring and Related Costs (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Restructuring Charges and Related Cash Payments [Line Items]
Restructuring reserve, beginning balance	$ 3,422,000	$ 8,394,000	$ 23,265,000
Restructuring charges	0	0	3,792,000
Cash payments	(3,516,000)	(4,853,000)	(14,453,000)
Non-cash write-offs		(34,000)	(4,146,000)
Exchange rate fluctuations	94,000	(85,000)	(64,000)
Restructuring reserve, ending balance	0	3,422,000	8,394,000
Employee related
Schedule of Restructuring Charges and Related Cash Payments [Line Items]
Restructuring reserve, beginning balance	3,422,000	8,394,000	22,312,000
Restructuring charges			(183,000)
Cash payments	(3,516,000)	(4,853,000)	(13,702,000)
Non-cash write-offs		(34,000)	44,000
Exchange rate fluctuations	94,000	(85,000)	(77,000)
Restructuring reserve, ending balance	0	3,422,000	8,394,000
Office related
Schedule of Restructuring Charges and Related Cash Payments [Line Items]
Restructuring reserve, beginning balance	0	0	953,000
Restructuring charges			3,962,000
Cash payments	0	0	(738,000)
Non-cash write-offs		0	(4,190,000)
Exchange rate fluctuations	0	0	13,000
Restructuring reserve, ending balance	0	0	0
Other
Schedule of Restructuring Charges and Related Cash Payments [Line Items]
Restructuring reserve, beginning balance	0	0	0
Restructuring charges			13,000
Cash payments	0	0	(13,000)
Non-cash write-offs		0	0
Exchange rate fluctuations	0	0	0
Restructuring reserve, ending balance	$ 0	$ 0	$ 0

Changes in Accumulated Other Comprehensive Income

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Changes in Accumulated Other Comprehensive Income

The changes in Accumulated other comprehensive income (“AOCI”) by component for the year ended December 31, 2023, are summarized below:


	Available- for- Sale Securities		Foreign Currency Translation		Pension		AOCI
Balance at December 31, 2022	$	(41)	$	(4,163)	$	15	$	(4,189)
Other comprehensive income (loss) before classification, net of tax	83		4,810		(575)		4,318



Balance at December 31, 2023	$	42	$	647	$	(560)	$	129

Consolidated Statements of Changes In Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Treasury Stock	Additional Paid in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Beginning balance (in shares) at Dec. 31, 2020		19,586,000
Beginning Balance at Dec. 31, 2020	$ 267,602	$ 196	$ (8,041)	$ 231,048	$ 40,982	$ 3,417
Beginning balance (in shares) at Dec. 31, 2020			226,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	72,572				72,572
Other comprehensive loss, net of tax	(1,742)					(1,742)
Common and treasury stock transactions:
Stock-based compensation	12,760			12,760
Vesting of equity, net of tax withholdings (in shares)		11,000	213,000
Vesting of equity, net of tax withholdings	(3,140)		$ 7,570	(10,710)
Re-issuance of treasury stock (in shares)			(8,000)
Re-issuance of treasury stock	345		$ 280	65
Cash dividends declared ($0.60 per share)	(11,708)				(11,708)
Dividend equivalents on restricted stock units	(669)				(669)
Ending balance (in shares) at Dec. 31, 2021		19,597,000
Ending Balance at Dec. 31, 2021	336,020	$ 196	$ (191)	233,163	101,177	1,675
Ending balance (in shares) at Dec. 31, 2021			5,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	79,486				79,486
Other comprehensive loss, net of tax	(5,864)					(5,864)
Common and treasury stock transactions:
Stock-based compensation	16,689			16,689
Vesting of equity, net of tax withholdings (in shares)		269,000
Vesting of equity, net of tax withholdings	$ (3,219)	$ 3		(3,222)
Repurchase of common stock (in shares)	0
Re-issuance of treasury stock	$ 0
Cash dividends declared ($0.60 per share)	(11,857)				(11,857)
Dividend equivalents on restricted stock units	$ (609)				(609)
Ending balance (in shares) at Dec. 31, 2022	19,861,207	19,866,000
Ending Balance at Dec. 31, 2022	$ 410,646	$ 199	$ (191)	246,630	168,197	(4,189)
Ending balance (in shares) at Dec. 31, 2022	5,080		5,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 54,410				54,410
Other comprehensive loss, net of tax	4,318					4,318
Common and treasury stock transactions:
Stock-based compensation	10,830			10,830
Vesting of equity, net of tax withholdings (in shares)		261,000
Vesting of equity, net of tax withholdings	$ (4,141)	$ 2		(4,143)
Repurchase of common stock (in shares)	36,000		36,000
Repurchase of common stock	$ (904)		$ (904)
Clawback of equity awards (in shares)			10,000
Clawback of equity awards	(344)		$ (307)	(37)
Re-issuance of treasury stock (in shares)			(46,000)
Re-issuance of treasury stock	0		$ 1,292	(1,292)
Cash dividends declared ($0.60 per share)	(12,043)				(12,043)
Dividend equivalents on restricted stock units	$ (494)				(494)
Ending balance (in shares) at Dec. 31, 2023	20,122,792	20,127,000
Ending Balance at Dec. 31, 2023	$ 462,278	$ 201	$ (110)	$ 251,988	$ 210,070	$ 129
Ending balance (in shares) at Dec. 31, 2023	5,080		5,000

Goodwill and Other Intangible Assets - Schedule of Changes in Carrying Amount of Goodwill by Segment (Details) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended	12 Months Ended
	Apr. 30, 2023	Feb. 28, 2023	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Goodwill [Roll Forward]
Goodwill, beginning balance				$ 138,361	$ 138,524	$ 91,643
Acquired goodwill				69,444
Impairment				(7,246)
Foreign currency translation				1,693	(163)	(180)
Goodwill, ending balance				202,252	138,361	138,524
Goodwill, gross				242,468			$ 124,613
Accumulated impairment losses				(40,216)			(32,970)
BTG
Goodwill [Roll Forward]
Acquired goodwill						45,529
Finland
Goodwill [Roll Forward]
Acquired goodwill						1,532
Atreus
Goodwill [Roll Forward]
Acquired goodwill				62,371
Businessfourzero
Goodwill [Roll Forward]
Acquired goodwill			$ 7,100	7,073
Executive Search
Goodwill [Roll Forward]
Goodwill, beginning balance				92,832
Goodwill, ending balance				93,234	92,832
On-Demand Talent
Goodwill [Roll Forward]
Goodwill, beginning balance				45,529	45,529	0
Impairment				0
Foreign currency translation				1,118	0	0
Goodwill, ending balance				109,018	45,529	45,529
Goodwill, gross				109,018			0
Accumulated impairment losses				0			0
On-Demand Talent \| BTG
Goodwill [Roll Forward]
Acquired goodwill						45,529
On-Demand Talent \| Finland
Goodwill [Roll Forward]
Acquired goodwill						0
On-Demand Talent \| Atreus
Goodwill [Roll Forward]
Acquired goodwill		$ 62,400		62,371
On-Demand Talent \| Businessfourzero
Goodwill [Roll Forward]
Acquired goodwill				0
Heidrick Consulting
Goodwill [Roll Forward]
Goodwill, beginning balance				0	0	0
Impairment				(7,246)
Foreign currency translation				173	0	0
Goodwill, ending balance				0	0	0
Goodwill, gross				7,246			0
Accumulated impairment losses				(7,246)			0
Heidrick Consulting \| BTG
Goodwill [Roll Forward]
Acquired goodwill						0
Heidrick Consulting \| Finland
Goodwill [Roll Forward]
Acquired goodwill						0
Heidrick Consulting \| Atreus
Goodwill [Roll Forward]
Acquired goodwill				0
Heidrick Consulting \| Businessfourzero
Goodwill [Roll Forward]
Acquired goodwill	$ 7,100			7,073
Americas \| Executive Search
Goodwill [Roll Forward]
Goodwill, beginning balance				91,383	91,463	91,643
Impairment				0
Foreign currency translation				357	(80)	(180)
Goodwill, ending balance				91,740	91,383	91,463
Goodwill, gross				91,740			91,643
Accumulated impairment losses				0			0
Americas \| Executive Search \| BTG
Goodwill [Roll Forward]
Acquired goodwill						0
Americas \| Executive Search \| Finland
Goodwill [Roll Forward]
Acquired goodwill						0
Americas \| Executive Search \| Atreus
Goodwill [Roll Forward]
Acquired goodwill				0
Americas \| Executive Search \| Businessfourzero
Goodwill [Roll Forward]
Acquired goodwill				0
Europe \| Executive Search
Goodwill [Roll Forward]
Goodwill, beginning balance				1,449	1,532	0
Impairment				0
Foreign currency translation				45	(83)	0
Goodwill, ending balance				1,494	1,449	1,532
Goodwill, gross				25,969			24,475
Accumulated impairment losses				(24,475)			(24,475)
Europe \| Executive Search \| BTG
Goodwill [Roll Forward]
Acquired goodwill						0
Europe \| Executive Search \| Finland
Goodwill [Roll Forward]
Acquired goodwill						1,532
Europe \| Executive Search \| Atreus
Goodwill [Roll Forward]
Acquired goodwill				0
Europe \| Executive Search \| Businessfourzero
Goodwill [Roll Forward]
Acquired goodwill				0
Asia Pacific \| Executive Search
Goodwill [Roll Forward]
Goodwill, beginning balance				0	0	0
Impairment				0
Foreign currency translation				0	0	0
Goodwill, ending balance				0	$ 0	0
Goodwill, gross				8,495			8,495
Accumulated impairment losses				(8,495)			$ (8,495)
Asia Pacific \| Executive Search \| BTG
Goodwill [Roll Forward]
Acquired goodwill						0
Asia Pacific \| Executive Search \| Finland
Goodwill [Roll Forward]
Acquired goodwill						$ 0
Asia Pacific \| Executive Search \| Atreus
Goodwill [Roll Forward]
Acquired goodwill				0
Asia Pacific \| Executive Search \| Businessfourzero
Goodwill [Roll Forward]
Acquired goodwill				$ 0

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Accounts receivable, allowance for credit loss, current	$ 6,954	$ 6,643
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	10,000,000	10,000,000
Preferred stock, issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	100,000,000	100,000,000
Common stock, issued (in shares)	20,127,872	19,866,287
Common stock outstanding, (in shares)	20,122,792	19,861,207
Treasury stock (in shares)	5,080	5,080

Financial Instruments and Fair Value (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Unrealized Gain (Loss) on Investments

The Company's cash, cash equivalents, and marketable securities by significant investment category are as follows:



	Amortized Cost		Unrealized Gains		Fair Value		Cash and Cash Equivalents		Marketable Securities
Balance at December 31, 2023
Cash							$	221,980	$	—

Level 1(1):
Money market funds							13,906
U.S. Treasury securities	242,228		42		242,270		176,732		65,538
Total Level 1	242,228		42		242,270		190,638		65,538




Total	$	242,228	$	42	$	242,270	$	412,618	$	65,538



	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value		Cash and Cash Equivalents		Marketable Securities
Balance at December 31, 2022
Cash									$	247,198	$	—

Level 1(1):
Money market funds									62,338
U.S. Treasury securities	312,121		15		(56)		312,080		45,911		266,169
Total Level 1	312,121		15		(56)		312,080		108,249		266,169

Total	$	312,121	$	15	$	(56)	$	312,080	$	355,447	$	266,169

(1)Level 1 – Quoted prices in active markets for identical assets and liabilities.

Schedule of Fair Value, Separate Account Investment


			Balance Sheet Classification
	Fair Value		Other Current Assets		Assets Designated for Retirement and Pension Plans		Investments		Other Current Liabilities		Retirement and Pension Plans
Balance at December 31, 2023

Measured on a recurring basis:
Level 1(1):
U.S. non-qualified deferred compensation plan	$	47,287	$	—	$	—	$	47,287	$	—	$	—

Level 2(2):
Retirement and pension plan assets	12,394		1,289		11,105		—		—		—
Pension benefit obligation	(14,416)		—		—		—		(1,289)		(13,127)
Total Level 2	(2,022)		1,289		11,105		—		(1,289)		(13,127)





Total	$	45,265	$	1,289	$	11,105	$	47,287	$	(1,289)	$	(13,127)


			Balance Sheet Classification
	Fair Value		Other Current Assets		Assets Designated for Retirement and Pension Plans		Investments		Other Current Liabilities		Retirement and Pension Plans
Balance at December 31, 2022

Measured on a recurring basis:
Level 1(1):
U.S. non-qualified deferred compensation plan	$	34,354	$	—	$	—	$	34,354	$	—	$	—

Level 2(2):
Retirement and pension plan assets	12,584		1,252		11,332		—		—		—
Pension benefit obligation	(13,951)		—		—		—		(1,252)		(12,699)
Total Level 2	(1,367)		1,252		11,332		—		(1,252)		(12,699)





Total	$	32,987	$	1,252	$	11,332	$	34,354	$	(1,252)	$	(12,699)

(1)Level 1 – Quoted prices in active markets for identical assets and liabilities.

Schedule of Reconciliation of Level 3 Assets and Liabilities

The following table provides a reconciliation of the beginning and ending balance of Level 3 liabilities for the year ended December 31, 2023:


	Earnout		Contingent Compensation
Balance at December 31, 2022	$	(36,010)	$	(8,192)
Purchase accounting (see Note 8, Acquisitions)	(36,266)		—
Earnout accretion	(1,554)		—
Compensation expense	—		(11,934)
Payments	35,946		2,038
Foreign currency translation	(717)		(790)
Balance at December 31, 2023	$	(38,601)	$	(18,878)

Schedule of Changes in Carrying Amount of Goodwill by Segment

The following table provides a reconciliation of the beginning and ending balance of Level 3 assets for the year ended December 31, 2023:


	Goodwill
Balance at December 31, 2022	$	138,361
Acquired goodwill	69,444
Impairment	(7,246)
Foreign currency translation	1,693
Balance at December 31, 2023	$	202,252

Changes in the carrying amount of goodwill by segment for the years ended December 31, 2023, 2022, and 2021 were as follows:


	Executive Search
	Americas		Europe		Asia Pacific		On-Demand Talent		Heidrick Consulting		Total
Goodwill	$	91,643	$	24,475	$	8,495	$	—	$	—	$	124,613
Accumulated impairment losses	—		(24,475)		(8,495)		—		—		(32,970)
Balance at December 31, 2020	91,643		—		—		—		—		91,643

BTG acquisition	—		—		—		45,529		—		45,529
Finland acquisition	—		1,532		—		—		—		1,532
Foreign currency translation	(180)		—		—		—		—		(180)
Balance at December 31, 2021	91,463		1,532		—		45,529		—		138,524

Foreign currency translation	(80)		(83)		—		—		—		(163)
Balance at December 31, 2022	91,383		1,449		—		45,529		—		138,361

Atreus acquisition	—		—		—		62,371		—		62,371
businessfourzero acquisition	—		—		—		—		7,073		7,073
Impairment	—		—		—		—		(7,246)		(7,246)
Foreign currency translation	357		45		—		1,118		173		1,693

Goodwill	91,740		25,969		8,495		109,018		7,246		242,468
Accumulated impairment losses	—		(24,475)		(8,495)		—		(7,246)		(40,216)
Balance at December 31, 2023	$	91,740	$	1,494	$	—	$	109,018	$	—	$	202,252

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
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-Name Accounting Standards Codification
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-Paragraph 24
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

Pension Plan and Life Insurance Contract

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

Pension Plan and Life Insurance Contract

The Company maintains a pension plan for certain current and former employees in Germany. The pensions are individually fixed Euro amounts that vary depending on the function and the eligible years of service of the employee.


	2023		2022
Benefit obligation at January 1,	$	13,951	$	19,594
Interest cost	555		181
Actuarial gain (loss)	769		(3,361)
Benefits paid	(1,296)		(1,257)
Cumulative translation adjustment	437		(1,206)
Benefit obligation at December 31,	$	14,416	$	13,951

The benefit obligation amounts recognized in the Consolidated Balance Sheets are as follows:


	December 31,
	2023		2022
Current liabilities	$	1,289	$	1,252
Non-current liabilities	13,127		12,699
Total	$	14,416	$	13,951

The components of and assumptions used to determine the net periodic benefit cost are as follows:


	December 31,
	2023			2022			2021
Net period benefit cost:

Interest cost	$	555		$	181		$	150
Amortization of net loss	—			195			211
Net periodic benefit cost	$	555		$	376		$	361
Weighted average assumptions
Discount rate (1)	4.09		%	1.03		%	0.72		%
Rate of compensation increase	—		%	—		%	—		%

Assumptions to determine the Company’s benefit obligation are as follows:


	December 31,
	2023		2022		2021
Discount rate (1)	3.45	%	4.09	%	1.03	%
Rate of compensation increase	—	%	—	%	—	%
Measurement date	12/31/2023		12/31/2022		12/31/2021

(1)The discount rates are based on long-term bond indices adjusted to reflect the longer duration of the benefit obligation.

The amounts in Accumulated other comprehensive income as of December 31, 2023, and 2022, that had not yet been recognized as components of net periodic benefit cost were $1.4 million and $0.7 million, respectively. As of December 31, 2023, an insignificant amount of the accumulated other comprehensive income is expected to be recognized as a component of net periodic benefit cost in 2024.

The Company’s investment strategy is to support its pension obligations through reinsurance contracts. The BaFin—German Federal Financial Supervisory Authority—supervises the insurance companies and the reinsurance contracts. The BaFin requires each reinsurance contract to guarantee a fixed minimum return. The Company’s pension benefits are fully reinsured by group insurance contracts with ERGO Lebensversicherung AG, and the group insurance contracts are measured in accordance with BaFin guidelines (including mortality tables and discount rates) which are considered Level 2 inputs (See Note 7, Financial Instruments and Fair Value). The fair value at December 31, 2023, and 2022, was $12.4 million and $12.6 million, respectively.

Since the pension assets are not segregated in trust from the Company’s other assets, the pension assets are not shown as an offset against the pension liabilities in the Consolidated Balance Sheets. These assets are included in the Consolidated Balance Sheets at December 31, 2023, and 2022, as a component of Other current assets and Assets designated for retirement and pension plans.

The benefits expected to be paid in each of the next five years, and in the aggregate for the five years thereafter are as follows:


2024	$	1,289
2025	1,267
2026	1,239
2027	1,206
2028	1,168
2029 through 2033	$	5,103

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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+ Details

Goodwill and Other Intangible Assets - Narrative (Detail) $ in Thousands	1 Months Ended				3 Months Ended	12 Months Ended
	Apr. 30, 2023 USD ($)	Feb. 28, 2023 USD ($)	Oct. 31, 2021 USD ($)	Apr. 30, 2021 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2023	Dec. 31, 2023 USD ($)	Dec. 31, 2023 reporting_unit	Dec. 31, 2023	Dec. 31, 2023 unit	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Apr. 01, 2023 USD ($)	Feb. 01, 2023 USD ($)
Goodwill And Other Intangible Assets [Line Items]
Acquired goodwill							$ 69,444
Number of reporting units								5		5
Impairment							7,246
Weighted Average Life (in years)						7 years 10 months 24 days
Intangible amortization							9,395				$ 3,209	$ 2,898
Client relationships
Goodwill And Other Intangible Assets [Line Items]
Weighted Average Life (in years)						9 years 10 months 24 days
Software
Goodwill And Other Intangible Assets [Line Items]
Weighted Average Life (in years)						3 years
Trade name
Goodwill And Other Intangible Assets [Line Items]
Weighted Average Life (in years)						3 years
Atreus
Goodwill And Other Intangible Assets [Line Items]
Acquired goodwill							62,371
Weighted Average Life (in years)		6 years 8 months 12 days
Atreus \| Client relationships
Goodwill And Other Intangible Assets [Line Items]
Finite-lived intangibles acquired														$ 11,300
Atreus \| Software
Goodwill And Other Intangible Assets [Line Items]
Finite-lived intangibles acquired		$ 5,400
Weighted Average Life (in years)		3 years
Atreus \| Trade name
Goodwill And Other Intangible Assets [Line Items]
Finite-lived intangibles acquired		$ 2,500												$ 2,500
Weighted Average Life (in years)		3 years
Atreus \| Customer Relationships, Short-Term
Goodwill And Other Intangible Assets [Line Items]
Finite-lived intangibles acquired		$ 6,000
Weighted Average Life (in years)		5 years
Atreus \| Customer Relationships, Long-Term
Goodwill And Other Intangible Assets [Line Items]
Finite-lived intangibles acquired		$ 5,300
Weighted Average Life (in years)		14 years
Businessfourzero
Goodwill And Other Intangible Assets [Line Items]
Acquired goodwill					$ 7,100		7,073
Weighted Average Life (in years)	8 years 3 months 18 days
Businessfourzero \| Client relationships
Goodwill And Other Intangible Assets [Line Items]
Finite-lived intangibles acquired	$ 3,500												$ 3,500
Weighted Average Life (in years)	9 years
Businessfourzero \| Trade name
Goodwill And Other Intangible Assets [Line Items]
Finite-lived intangibles acquired	$ 500												$ 500
Weighted Average Life (in years)	3 years
Executive Search \| Europe
Goodwill And Other Intangible Assets [Line Items]
Percentage of fair value excess by carrying value									3.00%
Executive Search \| Americas
Goodwill And Other Intangible Assets [Line Items]
Percentage of fair value excess by carrying value									258.00%
On-Demand Talent
Goodwill And Other Intangible Assets [Line Items]
Percentage of fair value excess by carrying value									6.00%
Impairment							0
On-Demand Talent \| Atreus
Goodwill And Other Intangible Assets [Line Items]
Acquired goodwill		$ 62,400					62,371
On-Demand Talent \| Businessfourzero
Goodwill And Other Intangible Assets [Line Items]
Acquired goodwill							0
On-Demand Talent \| Business Talent Group
Goodwill And Other Intangible Assets [Line Items]
Acquired goodwill				$ 45,500
Heidrick Consulting
Goodwill And Other Intangible Assets [Line Items]
Impairment							7,246
Heidrick Consulting \| Atreus
Goodwill And Other Intangible Assets [Line Items]
Acquired goodwill							0
Heidrick Consulting \| Businessfourzero
Goodwill And Other Intangible Assets [Line Items]
Acquired goodwill	$ 7,100						7,073
Executive Search \| Europe
Goodwill And Other Intangible Assets [Line Items]
Impairment							0
Executive Search \| Americas
Goodwill And Other Intangible Assets [Line Items]
Impairment							0
Executive Search \| Asia Pacific
Goodwill And Other Intangible Assets [Line Items]
Impairment							0
Executive Search \| Atreus \| Europe
Goodwill And Other Intangible Assets [Line Items]
Acquired goodwill							0
Executive Search \| Atreus \| Americas
Goodwill And Other Intangible Assets [Line Items]
Acquired goodwill							0
Executive Search \| Atreus \| Asia Pacific
Goodwill And Other Intangible Assets [Line Items]
Acquired goodwill							0
Executive Search \| Businessfourzero \| Europe
Goodwill And Other Intangible Assets [Line Items]
Acquired goodwill							0
Executive Search \| Businessfourzero \| Americas
Goodwill And Other Intangible Assets [Line Items]
Acquired goodwill							0
Executive Search \| Businessfourzero \| Asia Pacific
Goodwill And Other Intangible Assets [Line Items]
Acquired goodwill							$ 0
Executive Search \| H&S Finland \| Europe
Goodwill And Other Intangible Assets [Line Items]
Acquired goodwill			$ 1,500

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Cash and Cash Equivalents

The Company considers all highly liquid instruments with an original maturity of three months or less to be cash equivalents.

Marketable Securities

The Company’s marketable securities consist of available-for-sale debt securities with original maturities exceeding three months.

Concentration of Risk

The Company is potentially exposed to concentrations of risk associated with its accounts receivable. However, this risk is limited due to the Company’s large number of clients and their dispersion across many different industries and geographies. At December 31, 2023 and 2022, the Company had no significant concentrations of risk.

Accounts Receivable

The Company’s accounts receivable consists of trade receivables. The Company’s expected credit loss allowance methodology for accounts receivable is developed using historical collection experience, current and future economic and market conditions, and a review of the current status of customers' trade accounts receivables. These factors may change over time, impacting the allowance level. See Note 4, Credit Losses.

Fair Value of Financial Instruments

Cash equivalents are stated at cost, which approximates fair value. The carrying value for receivables from clients, accounts payable, deferred revenue and other accrued liabilities reasonably approximates fair value due to the nature of the financial instruments and the short-term nature of the items.

Property and Equipment


Office furniture, fixtures and equipment						5–10 years
Computer equipment and software						3–7 years

Leasehold improvements are depreciated over the lesser of the lease term or life of the asset improvement, which typically range from three to ten years.

Depreciation is calculated for tax purposes using accelerated methods, where applicable.

Other Intangible Assets and Long Lived Assets

The Company reviews its other intangible assets and long-lived assets, including property and equipment and right-of-use assets, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. Recoverability of asset groups to be held and used is measured by a comparison of the carrying amount of an asset group to estimated undiscounted future cash flows expected to be generated by the asset group. If the carrying amount of an asset group exceeds its estimated future cash flows, an impairment charge, equal to the amount by which the carrying amount of the asset group exceeds the fair value of the asset group, is recognized.

Leases

The Company determines if an arrangement is a lease at inception. Operating leases are included in Operating lease right-of-use assets, Current liabilities - Operating lease liabilities and Non-current liabilities - Operating lease liabilities in our Consolidated Balance Sheets. The Company does not have any leases that meet the finance lease criteria.

Right-of-use assets represent the Company's right to use an underlying asset for the lease term and lease liabilities represent the Company's obligation to make lease payments arising from the lease. Operating lease right-of-use assets and liabilities are recognized on the commencement date based on the present value of lease payments over the lease term. As most of the Company's leases do not provide an implicit rate, an incremental borrowing rate based on the information available at the commencement date is used in determining the present value of lease payments. The operating lease right-of-use asset also includes any lease payments made in advance and any accrued rent expense balances. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the option will be exercised. Lease expense for lease payments is recognized on a straight-line basis over the lease term.

The Company has lease agreements with lease and non-lease components. For office leases, the Company accounts for the lease and non-lease components as a single lease component. For equipment leases, such as vehicles and office equipment, the Company accounts for the lease and non-lease components separately.

Investments

The Company’s investments consist primarily of available-for-sale investments within the U.S. non-qualified deferred compensation plan (the “Plan”).

Available-for-sale investments are reported at fair value with changes in unrealized gains (losses) and realized gains (losses) recorded as a non-operating expense in Other, net in the Consolidated Statements of Comprehensive Income.

Goodwill

The goodwill impairment test compares the fair value of a reporting unit to its carrying amount, including goodwill. The Company operates five reporting units: Americas, Europe (which includes Africa), Asia Pacific (which includes the Middle East), On-Demand Talent and Heidrick Consulting. The goodwill impairment test is completed by comparing the fair value of a reporting unit with its carrying amount. The fair value of each of the Company’s reporting units is determined using a discounted cash flow methodology. An impairment charge is recognized for the amount by which the carrying value of the

reporting unit exceeds its fair value; however, the loss recognized is not to exceed the total amount of goodwill allocated to that reporting unit.

On October 31, 2022, the Company conducted its annual goodwill impairment evaluation, which indicated that the carrying value of the Heidrick Consulting reporting unit was less than its fair value. During the three months ended June 30, 2023, the Company acquired businessfourzero and recorded approximately $7.1 million of goodwill in the Heidrick Consulting reporting unit. Due to the inclusion of goodwill in a reporting unit with a pre-existing fair value shortfall, the Company evaluated the recent and anticipated future financial performance of the Heidrick Consulting reporting unit and determined that it was more likely than not that the fair value of the reporting unit was less than its carrying value. As a result, the Company identified a triggering event and performed an interim goodwill impairment evaluation during the three months ended June 30, 2023.

During the impairment evaluation process, the Company used a discounted cash flow methodology to estimate the fair value of each of its reporting units. The discounted cash flow approach is dependent on a number of factors, including estimates of future market growth and trends, forecasted revenue and costs, capital investments, appropriate discount rates, certain assumptions to allocate shared costs, assets and liabilities, historical and projected performance of the reporting unit, and the macroeconomic conditions affecting each of the Company’s reporting units. The assumptions used in the determination of fair value were (1) a forecast of growth in the near and long term; (2) the discount rate; (3) working capital investments; (4) macroeconomic conditions; and (5) other factors.

Based on the results of the impairment evaluation, the Company determined that the goodwill within the Heidrick Consulting reporting unit was impaired, which resulted in an impairment charge of $7.2 million to write-off all of the associated goodwill. The impairment charge is recorded within Impairment charges in the Consolidated Statements of Comprehensive Income for the year ended December 31, 2023, and the Consolidated Statements of Cash Flows for the year ended December 31, 2023. The impairment was non-cash in nature and did not affect the Company's current liquidity, cash flows, borrowing capability or operations; nor did it impact the debt covenants under the Company's credit agreement.

Restructuring Charges

The Company accounts for restructuring charges by recognizing a liability at fair value when the costs are incurred.

Revenue Recognition

See Note 3, Revenue.

Cost of Services

Cost of services consists of third-party contractor costs related to the delivery of various services in the Company's On-Demand Talent and Heidrick Consulting operating segments.

Research and Development

Research and development consists of payroll, employee benefits, stock-based compensation, other employee expenses and third-party professional fees associated with new product development.

Reimbursements

The Company incurs certain out-of-pocket expenses that are reimbursed by its clients, which are accounted for as revenue and expense in its Consolidated Statements of Comprehensive Income.

Salaries and Benefits

Salaries and benefits consist of compensation and benefits paid to consultants, executive officers, and administrative and support personnel, of which the most significant elements are salaries and annual performance-related bonuses. Other items in this category are expenses related to sign-on bonuses, forgivable employee loans and minimum guaranteed bonuses (often incurred in connection with the hiring of new consultants), restricted stock unit, phantom stock unit and performance share unit amortization, payroll taxes, profit sharing and retirement benefits, and employee insurance benefits.

Salaries and benefits are recognized on an accrual basis. Certain sign-on bonuses, retention awards, and minimum guaranteed compensation are capitalized and amortized in accordance with the terms of the respective agreements.

Historically, a portion of the Company’s consultants’ and management cash bonuses were deferred and paid over a three-year vesting period. The portion of the bonus was approximately 15% depending on the employee’s level or position. The compensation expense related to the amounts being deferred was recognized on a graded vesting attribution method over the requisite service period. This service period began on January 1 of the respective fiscal year and continued through the deferral date, which coincided with the Company’s bonus payments in the first half of the following year and for an additional three-year vesting period. The deferrals are recorded in Accrued salaries and benefits within both Current liabilities and Non-current liabilities in the Consolidated Balance Sheets.

In 2020, the Company terminated the cash bonus deferral for consultants and, in 2021, terminated the cash bonus deferral for management. The Company now pays 100% of the cash bonuses earned by consultants and management in the first half of the following year. Consultant and management cash bonuses earned prior to 2020 and 2021, respectively, were paid under the terms of the cash bonus deferral program. The deferrals are recorded in Accrued salaries and benefits within both Current liabilities and Non-current liabilities in the Consolidated Balance Sheets. The final cash bonus deferrals were paid during the year ended December 31, 2023.

Income Taxes

Deferred tax assets and liabilities are determined based on the differences between the financial statement and tax basis of assets and liabilities, applying enacted statutory tax rates in effect for the year in which the tax differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.

Earnings per Common Share

Basic earnings per common share is computed by dividing net income by weighted average common shares outstanding for the year. Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted. Common equivalent shares are excluded from the determination of diluted earnings per share in periods in which they have an anti-dilutive effect.

The following table sets forth the computation of basic and diluted earnings per share:


	December 31,
	2023		2022		2021
Net income	$	54,410	$	79,486	$	72,572
Weighted average shares outstanding:
Basic	20,029		19,758		19,515
Effect of dilutive securities:
Restricted stock units	580		644		587
Performance stock units	157		216		194
Diluted	20,766		20,618		20,296
Basic earnings per share	$	2.72	$	4.02	$	3.72
Diluted earnings per share	$	2.62	$	3.86	$	3.58

Translation of Foreign Currencies

The Company generally designates the local currency for all its subsidiaries as the functional currency. The Company translates the assets and liabilities of its subsidiaries into U.S. dollars at the current rate of exchange prevailing at the balance sheet date. Revenue and expenses are translated at a monthly average exchange rate for the period. Translation adjustments are reported as a component of Accumulated other comprehensive income (loss).

Restricted Cash

Periodically, the Company is party to agreements with terms that require the Company to restrict cash through the termination dates of the agreements. Current and non-current restricted cash is included in Other current assets and Other non-current assets, respectively, in the Consolidated Balance Sheets.

The following table provides a reconciliation of the cash and cash equivalents between the Consolidated Balance Sheets and the Consolidated Statement of Cash Flows as of December 31, 2023, 2022 and 2021:


	December 31,
	2023		2022		2021
Cash and cash equivalents	$	412,618	$	355,447	$	545,225

Restricted cash included within other non-current assets	—		42		34
Total cash, cash equivalents and restricted cash	$	412,618	$	355,489	$	545,259

Recently Issued Financial Accounting Standards

In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU) No. 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures." The standard is intended to expand the disclosure requirements for income taxes, specifically related to the rate reconciliation and income taxes paid. The guidance is effective for annual periods beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of this guidance on its financial statement disclosures.

In November 2023, the FASB issued ASU No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” The standard is intended to improve reportable segment disclosure requirements for public business entities primarily through enhanced disclosures about significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”) and included within each reported measure of segment profit (referred to as the “significant expense principle”). This guidance is effective for annual periods beginning after December 15, 2023, and for interim periods beginning after December 15, 2024. The Company is currently evaluating the impact of this guidance on its financial statement disclosures.

In March 2020, the FASB issued ASU No. 2020-04, "Reference Rate Reform (Topic 280): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The guidance was intended to provide temporary optional expedients and exceptions to the guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate ("LIBOR") and other interbank offered rates to alternative reference rates. This guidance is effective March 12, 2020, and the Company may elect to apply the amendments prospectively through December 31, 2024. The new guidance is not expected to have a material effect on the Company's financial statements.

Pension Plan and Life Insurance Contract - Additional Information (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Retirement Benefits [Abstract]
Defined benefit plan amounts in accumulated other comprehensive income not yet recognized in net periodic benefit cost	$ 1.4	$ 0.7
Retirement and pension plan assets	$ 12.4	$ 12.6

- Definition

Amount of asset segregated and restricted to provide benefit under defined benefit plan. Asset includes, but is not limited to, stock, bond, other investment, earning from investment, and contribution by employer and employee.

+ References + Details

Financial Instruments and Fair Value - Schedule of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 138,361	$ 138,524	$ 91,643
Acquired goodwill	69,444
Impairment	(7,246)
Foreign currency translation	1,693	(163)	(180)
Goodwill, ending balance	$ 202,252	$ 138,361	$ 138,524

- Definition

+ References + Details

Line of Credit	12 Months Ended
Line of Credit	Dec. 31, 2023
Debt Disclosure [Abstract]
Line of Credit	Line of Credit On February 24, 2023, the Company entered into the Second Amendment (the “Second Amendment”) to the Credit Agreement, dated as of October 26, 2018 (the “Credit Agreement” and, as amended by the First Amendment to Credit Agreement, dated as of July 13, 2021, and the Second Amendment, the "Amended Credit Agreement") by and among the Company, Bank of America, N.A., as administrative agent, and the lenders party thereto. The Second Amendment changed the interest rate benchmark, from LIBOR to the Secured Overnight Financing Rate (“SOFR”). At the Company's option, borrowings under the Amended Credit Agreement will bear interest at one-, three- or six-month term SOFR, or an alternate base rate as set forth in the Amended Credit Agreement, in each case plus an applicable margin. Additionally, the Second Amendment provided the Company with a committed unsecured revolving credit facility in an aggregate amount of $200 million, increased from $175 million as set forth in the Credit Agreement, which includes a sublimit of $25 million for letters of credit and a sublimit of $10 million for swingline loans, with a $75 million expansion feature. Other than the foregoing, the material terms of the Amended Credit Agreement remain unchanged. The Amended Credit Agreement matures on July 13, 2026. Borrowings under the Credit Agreement may be used for working capital, capital expenditures, permitted acquisitions, restricted payments and for other general corporate purposes of the Company and its subsidiaries. The obligations under the Credit Agreement are guaranteed by certain of the Company’s subsidiaries. As of December 31, 2023, and 2022, the Company had no outstanding borrowings. The Company was in compliance with the financial and other covenants under the Amended Credit Agreement and no event of default existed.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Income Taxes

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Income Taxes

The sources of income before income taxes are as follows:


	December 31,
	2023		2022		2021
United States	$	52,572	$	57,274	$	68,122
Foreign	36,099		57,962		37,907
Income before income taxes	$	88,671	$	115,236	$	106,029

The provision for income taxes are as follows:


	December 31,
	2023		2022		2021
Current
Federal	$	12,009	$	13,405	$	21,200
State and local	4,644		6,748		9,341
Foreign	12,721		8,813		9,802
Current provision for income taxes	29,374		28,966		40,343

Deferred
Federal	2,996		3,702		(3,373)
State and local	1,334		1,113		(1,825)
Foreign	557		1,969		(1,688)
Deferred provision (benefit) for income taxes	4,887		6,784		(6,886)
Total provision for income taxes	$	34,261	$	35,750	$	33,457

A reconciliation of the provision for income taxes to income taxes at the statutory U.S. federal income tax rate of 21% is as follows:


	December 31,
	2023		2022		2021
Income tax provision at the statutory U.S. federal rate	$	18,621	$	24,199	$	22,266
State income tax provision, net of federal tax benefit	4,974		5,475		4,994
Nondeductible expenses, net	8,437		4,036		2,833
Foreign taxes (includes rate differential and changes in foreign valuation allowance)	4,158		1,647		1,910
Release of valuation allowance	(185)		—		(157)
Additional U.S. tax on foreign operations	(300)		436		242


Other, net	(1,444)		(43)		1,369
Total provision for income taxes	$	34,261	$	35,750	$	33,457

The deferred tax assets and liabilities are attributable to the following components:


	December 31,
	2023		2022
Deferred tax assets attributable to:
Operating lease liability and accrued rent	$	15,490	$	16,693
Foreign net operating loss carryforwards	11,658		14,528
Accrued compensation and employee benefits	12,678		20,776
Deferred compensation	19,245		17,994
Foreign tax credit carryforwards	7,820		5,522
Other accrued expenses	10,515		6,257
Deferred tax assets, before valuation allowance	77,406		81,770
Valuation allowance	(22,233)		(20,724)
Deferred tax assets, after valuation allowance	55,173		61,046

Deferred tax liabilities attributable to:
Operating lease, right-of-use, assets	11,715		13,020
Goodwill	17,731		9,493

Depreciation on property and equipment	2,731		3,449
Other	1,393		1,592
Deferred tax liabilities	33,570		27,554
Net deferred tax assets	$	21,603	$	33,492

The recognition of deferred tax assets is based on management’s belief that it is more likely than not that the tax benefits associated with temporary differences, net operating loss carryforwards and tax credits will be utilized. The Company assesses the recoverability of the deferred tax assets on an ongoing basis. In making this assessment, the Company considers all positive and negative evidence, and all potential sources of taxable income including scheduled reversals of deferred tax liabilities, tax-planning strategies, projected future taxable income and recent financial performance.

The valuation allowance increased from $20.7 million at December 31, 2022, to $22.2 million at December 31, 2023. The valuation allowance at December 31, 2023 was related to foreign net operating loss carryforwards, foreign tax credit carryforwards, and certain foreign deferred tax assets. The Company intends to maintain these valuation allowances until sufficient evidence exists to support their reversal.

At December 31, 2023, the Company had a net operating loss carryforward of $93.3 million related to its foreign filings. Of the $93.3 million net operating loss carryforward, $58.3 million is subject to a valuation allowance. Depending on the tax rules of the tax jurisdictions, the losses can be carried forward for periods ranging from five years to indefinitely. The Company also had a foreign tax credit carryforward of $7.8 million subject to a valuation allowance of $7.8 million.

At December 31, 2022, the Company had a net operating loss carryforward of $103.4 million related to its foreign tax filings. Of the $103.4 million net operating loss carryforward, $64.0 million is subject to a valuation allowance. Depending on the tax rules of the tax jurisdictions, the losses can be carried forward for periods ranging from five years to indefinitely. The Company also had a foreign tax credit carryforward of $5.5 million subject to a valuation allowance of $5.5 million.

As of December 31, 2023, and 2022, the Company does not have any unrecognized tax benefits, due to the settlement of all previous unrecognized tax benefits.

A reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits is as follows:


	December 31,
	2023		2022		2021
Gross unrecognized tax benefits at January 1,	$	—	$	—	$	416
Gross increases for tax positions of prior years	—		—		6
Gross decreases for tax positions of prior years	—		—		(14)
Settlements	—		—		(408)

Gross unrecognized tax benefits at December 31,	$	—	$	—	$	—

In many cases, the Company’s uncertain tax positions are related to tax years that remain subject to examination by the relevant tax authorities. The statute of limitations varies by jurisdiction in which the Company operates. Years 2020 through 2022 are subject to examination by federal and state taxing authorities. The years 2019 and prior are subject to examination in certain foreign and state jurisdictions.

The Company is currently under audit by some jurisdictions. It is likely that the examination phase of several of these audits will conclude in the next twelve months. No significant increases or decreases in unrecognized tax benefits are expected to occur by December 31, 2024.

Estimated interest and penalties related to the underpayment of income taxes are classified as a component of the provision for income taxes in the Consolidated Statements of Comprehensive Income.

The Company has elected to account for Global Intangible Low-Taxed Income ("GILTI") tax in the period in which it is incurred, and therefore has not provided any deferred tax impacts of GILTI in its consolidated financial statements for the year ended December 31, 2023.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Summary of Significant Accounting Policies - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income	$ 54,410	$ 79,486	$ 72,572
Weighted average shares outstanding:
Basic (in shares)	20,029	19,758	19,515
Diluted (in shares)	20,766	20,618	20,296
Basic earnings (loss) per share (in dollars per share)	$ 2.72	$ 4.02	$ 3.72
Diluted earnings (loss) per share (in dollars per share)	$ 2.62	$ 3.86	$ 3.58
Restricted stock units
Weighted average shares outstanding:
Effect of dilutive securities:	580	644	587
Performance stock units
Weighted average shares outstanding:
Effect of dilutive securities:	157	216	194

Financial Instruments and Fair Value - Schedule of Fair Value, Separate Account Investment (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Retirement and pension plan assets	$ 12,400	$ 12,600
Pension benefit obligation	(14,416)	(13,951)	$ (19,594)
Total	45,265	32,987
Other Current Assets
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total	1,289	1,252
Assets Designated for Retirement and Pension Plans
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total	11,105	11,332
Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total	47,287	34,354
Other Current Liabilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total	(1,289)	(1,252)
Retirement and Pension Plans
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total	(13,127)	(12,699)
Fair Value, Inputs, Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
U.S. non-qualified deferred compensation plan	47,287	34,354
Fair Value, Inputs, Level 1 \| Other Current Assets
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
U.S. non-qualified deferred compensation plan	0	0
Fair Value, Inputs, Level 1 \| Assets Designated for Retirement and Pension Plans
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
U.S. non-qualified deferred compensation plan	0	0
Fair Value, Inputs, Level 1 \| Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
U.S. non-qualified deferred compensation plan	47,287	34,354
Fair Value, Inputs, Level 1 \| Other Current Liabilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
U.S. non-qualified deferred compensation plan	0	0
Fair Value, Inputs, Level 1 \| Retirement and Pension Plans
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
U.S. non-qualified deferred compensation plan	0	0
Significant Other Observable Inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Retirement and pension plan assets	12,394	12,584
Pension benefit obligation	(14,416)	(13,951)
Total	(2,022)	(1,367)
Significant Other Observable Inputs (Level 2) \| Other Current Assets
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Retirement and pension plan assets	1,289	1,252
Pension benefit obligation	0	0
Total	1,289	1,252
Significant Other Observable Inputs (Level 2) \| Assets Designated for Retirement and Pension Plans
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Retirement and pension plan assets	11,105	11,332
Pension benefit obligation	0	0
Total	11,105	11,332
Significant Other Observable Inputs (Level 2) \| Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Retirement and pension plan assets	0	0
Pension benefit obligation	0	0
Total	0	0
Significant Other Observable Inputs (Level 2) \| Other Current Liabilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Retirement and pension plan assets	0	0
Pension benefit obligation	(1,289)	(1,252)
Total	(1,289)	(1,252)
Significant Other Observable Inputs (Level 2) \| Retirement and Pension Plans
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Retirement and pension plan assets	0	0
Pension benefit obligation	(13,127)	(12,699)
Total	$ (13,127)	$ (12,699)

Acquisitions	12 Months Ended
Acquisitions	Dec. 31, 2023
Business Combinations [Abstract]
Acquisitions	Acquisitions On February 1, 2023, the Company acquired Atreus Group GmbH ("Atreus"), a leading provider of executive interim management in Germany. The Company paid $33.4 million in the first quarter of 2023, with a subsequent purchase price adjustment payment of $12.1 million in the fourth quarter of 2023. The former owners of Atreus are eligible to receive additional cash consideration, which the Company estimated on the acquisition date to be between $30.0 million and $40.0 million, to be paid in 2026 based on the achievement of certain revenue and operating income milestones for the period from the acquisition date through 2025. When estimating the present value of future cash consideration, the Company accrued an estimated $32.0 million as of the acquisition date for the earnout liability. The Company recorded $11.3 million for customer relationships, $5.4 million for software, $2.5 million for a trade name and $62.4 million of goodwill. Goodwill is primarily related to the acquired workforce and strategic fit and is not deductible for tax purposes. Included in the Company's results of operations for the year ended December 31, 2023, are $70.4 million of revenue, and $7.9 million of operating loss, from the acquired entity. On April 1, 2023, the Company acquired businessfourzero, a next generation consultancy specializing in developing and implementing purpose-driven change. In connection with the acquisition, the Company paid $9.5 million in the second quarter of 2023 with a subsequent purchase price adjustment payment of $2.2 million paid in the third quarter of 2023. The former owners of businessfourzero are eligible to receive additional cash consideration, which the Company estimated on the acquisition date to be between $4.0 million and $8.0 million, to be paid in 2026 based on the achievement of certain revenue and operating income metrics for the period from the acquisition date through 2025. When estimating the present value of future cash consideration, the Company accrued an estimated $4.3 million as of the acquisition date for the earnout liability. The Company recorded $3.5 million for customer relationships, $0.5 million for a trade name, and $7.1 million of goodwill. The goodwill is primarily related to the acquired workforce and strategic fit. Included in the Company's results of operations for the year ended December 31, 2023, are $11.2 million of revenue, and $11.0 million of operating loss, primarily reflecting goodwill impairment of $7.2 million in the Heidrick Consulting reporting unit, from the acquired entity.

Pension Plan and Life Insurance Contract - Schedule of Changes in Projected Benefit Obligations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation at January 1,	$ 13,951	$ 19,594
Interest cost	$ 555	$ 181	$ 150
Defined Benefit Plan Net Periodic Benefit Cost Credit Interest Cost Statement Of Income Or Comprehensive Income Extensible List Not Disclosed Flag	Interest cost	Interest cost
Actuarial gain (loss)	$ 769	$ (3,361)
Benefits paid	(1,296)	(1,257)
Cumulative translation adjustment	437	(1,206)
Benefit obligation at December 31,	$ 14,416	$ 13,951	$ 19,594

Leases - Schedule Of Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating cash flows from operating leases	$ 20,856	$ 18,865
Right-of-use assets obtained in exchange for lease obligations:	$ 34,982	$ 18,055

Goodwill and Other Intangible Assets - Schedule of Indefinite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Total other intangible assets, net	$ 20,842	$ 6,333
Executive Search
Finite-Lived Intangible Assets [Line Items]
Total other intangible assets, net	117	282
On-Demand Talent
Finite-Lived Intangible Assets [Line Items]
Total other intangible assets, net	17,689	6,051
Heidrick Consulting
Finite-Lived Intangible Assets [Line Items]
Total other intangible assets, net	3,036	0
Americas \| Executive Search
Finite-Lived Intangible Assets [Line Items]
Total other intangible assets, net	22	51
Europe \| Executive Search
Finite-Lived Intangible Assets [Line Items]
Total other intangible assets, net	95	216
Asia Pacific \| Executive Search
Finite-Lived Intangible Assets [Line Items]
Total other intangible assets, net	$ 0	$ 15

Pension Plan and Life Insurance Contract - Schedule of Net Benefit Costs (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Retirement Benefits [Abstract]
Interest cost	$ 555	$ 181	$ 150
Amortization of net loss	$ 0	$ 195	$ 211
Defined Benefit Plan Net Periodic Benefit Cost Credit Amortization Of Gain Loss Statement Of Income Or Comprehensive Income Extensible List Not Disclosed Flag	Amortization of net loss	Amortization of net loss	Amortization of net loss
Net periodic benefit cost	$ 555	$ 376	$ 361
Weighted average assumptions
Discount rate	4.09%	1.03%	0.72%
Rate of compensation increase	0.00%	0.00%	0.00%

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill by Segment

The Company's goodwill by segment (for the segments that had recorded goodwill) is as follows:


	December 31, 2023		December 31, 2022
Executive Search
Americas	$	91,740	$	91,383
Europe	1,494		1,449

Total Executive Search	93,234		92,832
On-Demand Talent	109,018		45,529



Total goodwill	$	202,252	$	138,361

Schedule of Changes in Carrying Amount of Goodwill by Segment

The following table provides a reconciliation of the beginning and ending balance of Level 3 assets for the year ended December 31, 2023:


	Goodwill
Balance at December 31, 2022	$	138,361
Acquired goodwill	69,444
Impairment	(7,246)
Foreign currency translation	1,693
Balance at December 31, 2023	$	202,252

Changes in the carrying amount of goodwill by segment for the years ended December 31, 2023, 2022, and 2021 were as follows:


	Executive Search
	Americas		Europe		Asia Pacific		On-Demand Talent		Heidrick Consulting		Total
Goodwill	$	91,643	$	24,475	$	8,495	$	—	$	—	$	124,613
Accumulated impairment losses	—		(24,475)		(8,495)		—		—		(32,970)
Balance at December 31, 2020	91,643		—		—		—		—		91,643

BTG acquisition	—		—		—		45,529		—		45,529
Finland acquisition	—		1,532		—		—		—		1,532
Foreign currency translation	(180)		—		—		—		—		(180)
Balance at December 31, 2021	91,463		1,532		—		45,529		—		138,524

Foreign currency translation	(80)		(83)		—		—		—		(163)
Balance at December 31, 2022	91,383		1,449		—		45,529		—		138,361

Atreus acquisition	—		—		—		62,371		—		62,371
businessfourzero acquisition	—		—		—		—		7,073		7,073
Impairment	—		—		—		—		(7,246)		(7,246)
Foreign currency translation	357		45		—		1,118		173		1,693

Goodwill	91,740		25,969		8,495		109,018		7,246		242,468
Accumulated impairment losses	—		(24,475)		(8,495)		—		(7,246)		(40,216)
Balance at December 31, 2023	$	91,740	$	1,494	$	—	$	109,018	$	—	$	202,252

Schedule of Indefinite-Lived Intangible Assets

The Company’s other intangible assets, net by segment, are as follows:


	December 31, 2023		December 31, 2022
Executive Search
Americas	$	22	$	51
Europe	95		216
Asia Pacific	—		15
Total Executive Search	117		282
On-Demand Talent	17,689		6,051
Heidrick Consulting	3,036		—
Total other intangible assets, net	$	20,842	$	6,333

Schedule of Acquired Finite-Lived Intangible Assets by Major Class

The carrying amount of amortizable intangible assets and the related accumulated amortization were as follows:


		December 31, 2023						December 31, 2022
	Weighted Average Life (in years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Client relationships	9.9	$	26,195	$	(11,443)	$	14,752	$	10,720	$	(6,164)	$	4,556
Trade name	3.0	5,067		(3,069)		$	1,998	2,406		(1,925)		481
Software	3.0	8,629		(4,537)		4,092		3,110		(1,814)		1,296
Total intangible assets	7.9	$	39,891	$	(19,049)	$	20,842	$	16,236	$	(9,903)	$	6,333

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The Company's estimated future amortization expense related to intangible assets as of December 31, 2023, for the years ended December 31, is as follows:


2024	$	7,780
2025	5,971
2026	2,525
2027	1,534
2028	897
Thereafter	2,135
Total	$	20,842

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

+ Details

Leases - Narrative (Details) - USD ($)	1 Months Ended	12 Months Ended
Leases - Narrative (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Lessee, Lease, Description [Line Items]
Restructuring charges		$ 0	$ 0	$ 3,792,000
Early termination agreement payment	$ 11,700,000
Lease liability associated with surrendered office	$ 17,400,000
Gain on early termination agreement				5,700,000
Asset retirement obligation			$ 3,300,000	2,800,000
Office Leases
Lessee, Lease, Description [Line Items]
Restructuring charges				$ 8,700,000
Maximum \| Equipment Lease
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contract		4 years 10 months 24 days
Building \| Minimum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contract		1 year
Building \| Maximum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contract		11 years 9 months 18 days

Restructuring

12 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

Restructuring

During the year ended December 31, 2020, the Company implemented a restructuring plan (the "2020 Plan") to optimize future growth and profitability. The primary components of the 2020 Plan included a workforce reduction, a reduction of the Company's real estate expenses and professional fees, and the elimination of certain deferred compensation programs. The Company continued to incur charges related to the 2020 Plan during the year ended December 31, 2021, which primarily related to finalizing a reduction of the Company's real estate footprint.

The Company did not incur any charges under the 2020 Plan during the years ended December 31, 2022, and 2023, and does not anticipate incurring any future charges under the 2020 Plan.

Restructuring charges (reversals) for the year ended December 31, 2021, by type of charge (reversal) and operating segment are as follows:


	Executive Search
	Americas		Europe		Asia Pacific		Heidrick Consulting		Global Operations Support		Total
Employee related	$	20	$	(97)	$	(124)	$	(44)	$	62	$	(183)
Office related	3,859		—		—		399		(296)		3,962
Other	3		—		—		—		10		13
Total	$	3,882	$	(97)	$	(124)	$	355	$	(224)	$	3,792

Restructuring charges incurred to date under the 2020 Plan, which are solely comprised of prior period charges, by type of charge and reportable segment are as follows:


	Executive Search
	Americas		Europe		Asia Pacific		Heidrick Consulting		Global Operations Support		Total
Employee related	$	16,226	$	8,256	$	4,110	$	2,589	$	1,416	$	32,597
Office related	18,101		226		374		2,352		1,819		22,872
Other	34		24		6		71		560		695
Total	$	34,361	$	8,506	$	4,490	$	5,012	$	3,795	$	56,164

As part of the Company's reduction in real estate expenses under the 2020 Plan, a lease component related to one of the Company's offices was abandoned. In September 2021, the Company entered into a termination and surrender agreement for this lease component. Under the terms of the agreement, the Company made a one-time payment of $11.7 million to release the Company from all remaining obligations under the lease. At the time of payment, the Company had accrued approximately $17.4 million of lease liabilities related to future payments under the remaining lease term. Upon making the one-time payment, the lease liabilities were relieved, resulting in a gain on termination of approximately $5.7 million, which is recorded in Restructuring charges in the Consolidated Statements of Comprehensive Income (Loss) for the year ended December 31, 2021.

Changes in the restructuring accrual for the years ended December 31, 2023, 2022, and 2021 were as follows:


	Employee Related		Office Related		Other		Total
Accrual balance at December 31, 2020	22,312		953		—		23,265
Restructuring charges	(183)		3,962		13		3,792
Cash payments	(13,702)		(738)		(13)		(14,453)
Non-cash write-offs	44		(4,190)		—		(4,146)
Exchange rate fluctuations	(77)		13		—		(64)
Accrual balance at December 31, 2021	8,394		—		—		8,394
Cash payments	(4,853)		—		—		(4,853)
Non-cash write-offs	(34)		—		—		(34)
Exchange rate fluctuations	(85)		—		—		(85)
Accrual balance at December 31, 2022	$	3,422	$	—	$	—	$	3,422
Cash payments	(3,516)		—		—		(3,516)
Exchange rate fluctuations	94		—		—		94
Accrual balance at December 31, 2023	$	—	$	—	$	—	$	—

Income Taxes - Schedule of Provision for (Benefit from) Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current
Federal	$ 12,009	$ 13,405	$ 21,200
State and local	4,644	6,748	9,341
Foreign	12,721	8,813	9,802
Current provision for income taxes	29,374	28,966	40,343
Deferred
Federal	2,996	3,702	(3,373)
State and local	1,334	1,113	(1,825)
Foreign	557	1,969	(1,688)
Deferred provision (benefit) for income taxes	4,887	6,784	(6,886)
Total provision for income taxes	$ 34,261	$ 35,750	$ 33,457

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 412,618	$ 355,447
Marketable securities	65,538	266,169
Accounts receivable, net of allowances of $6,954 and $6,643, respectively	133,128	126,437
Prepaid expenses	23,597	24,098
Other current assets	47,923	40,722
Income taxes recoverable	10,410	10,946
Total current assets	693,214	823,819
Non-current assets
Property and equipment, net	35,752	30,207
Operating lease right-of-use assets	86,063	71,457
Assets designated for retirement and pension plans	11,105	11,332
Investments	47,287	34,354
Other non-current assets	17,071	25,788
Goodwill	202,252	138,361
Other intangible assets, net	20,842	6,333
Deferred income taxes, net	28,005	33,987
Total non-current assets	448,377	351,819
Total assets	1,141,591	1,175,638
Current liabilities
Accounts payable	20,837	14,613
Accrued salaries and benefits	322,744	451,161
Deferred revenue	45,732	43,057
Operating lease liabilities	21,498	19,554
Other current liabilities	21,823	56,016
Income taxes payable	6,057	4,076
Total current liabilities	438,691	588,477
Non-current liabilities
Accrued salaries and benefits	52,108	59,467
Retirement and pension plans	62,100	48,456
Operating lease liabilities	78,204	63,299
Deferred income tax liability - non-current	6,402	0
Other non-current liabilities	41,808	5,293
Total non-current liabilities	240,622	176,515
Total liabilities	679,313	764,992
Commitments and contingencies (Note 20)
Stockholders’ equity
Preferred stock, $0.01 par value, 10,000,000 shares authorized, no shares issued at December 31, 2023 and 2022.	0	0
Common stock, $0.01 par value, 100,000,000 shares authorized, 20,127,872 and 19,866,287 shares issued, 20,122,792 and 19,861,207 shares outstanding at December 31, 2023 and 2022, respectively	201	199
Treasury stock at cost, 5,080 shares at December 31, 2023 and 2022, respectively	(110)	(191)
Additional paid in capital	251,988	246,630
Retained earnings	210,070	168,197
Accumulated other comprehensive income (loss)	129	(4,189)
Total stockholders’ equity	462,278	410,646
Total liabilities and stockholders’ equity	$ 1,141,591	$ 1,175,638

Cover - USD ($)	12 Months Ended
Cover - USD ($)	Dec. 31, 2023	Mar. 01, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	0-25837
Entity Registrant Name	HEIDRICK & STRUGGLES INTERNATIONAL, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-2681268
Entity Address, Address Line One	233 South Wacker Drive
Entity Address, Address Line Two	Suite 4900
Entity Address, City or Town	Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60606-6303
City Area Code	(312)
Local Phone Number	496-1200
Title of 12(b) Security	Common Stock, $.01 par value
Trading Symbol	HSII
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 427,408,808
Entity Common Stock, Shares Outstanding		20,122,792
Documents Incorporated by Reference	Portions of the registrant’s definitive Proxy Statement for its Annual Meeting of Stockholders to be held on May 23, 2024, are incorporated by reference into Part III of this Form 10-K.
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Entity Central Index Key	0001066605

Pension Plan and Life Insurance Contract (Tables)

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

Schedule of Changes in Projected Benefit Obligations


	2023		2022
Benefit obligation at January 1,	$	13,951	$	19,594
Interest cost	555		181
Actuarial gain (loss)	769		(3,361)
Benefits paid	(1,296)		(1,257)
Cumulative translation adjustment	437		(1,206)
Benefit obligation at December 31,	$	14,416	$	13,951

Schedule of Amounts Recognized in Balance Sheet

The benefit obligation amounts recognized in the Consolidated Balance Sheets are as follows:


	December 31,
	2023		2022
Current liabilities	$	1,289	$	1,252
Non-current liabilities	13,127		12,699
Total	$	14,416	$	13,951

Schedule of Net Benefit Costs

The components of and assumptions used to determine the net periodic benefit cost are as follows:


	December 31,
	2023			2022			2021
Net period benefit cost:

Interest cost	$	555		$	181		$	150
Amortization of net loss	—			195			211
Net periodic benefit cost	$	555		$	376		$	361
Weighted average assumptions
Discount rate (1)	4.09		%	1.03		%	0.72		%
Rate of compensation increase	—		%	—		%	—		%

Schedule of Assumptions Used

Assumptions to determine the Company’s benefit obligation are as follows:


	December 31,
	2023		2022		2021
Discount rate (1)	3.45	%	4.09	%	1.03	%
Rate of compensation increase	—	%	—	%	—	%
Measurement date	12/31/2023		12/31/2022		12/31/2021

(1)The discount rates are based on long-term bond indices adjusted to reflect the longer duration of the benefit obligation.

Schedule of Expected Benefit Payments

The benefits expected to be paid in each of the next five years, and in the aggregate for the five years thereafter are as follows:


2024	$	1,289
2025	1,267
2026	1,239
2027	1,206
2028	1,168
2029 through 2033	$	5,103

Stock-Based Compensation and Common Stock - Schedule of Share-based Payment Arrangement, Expensed and Capitalized, Amount (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Income tax benefit related to stock-based compensation included in net income	$ 3,220	$ 4,263	$ 5,539
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	800	1,200	7,800
Salaries and benefits
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expensed and capitalized amount	10,633	14,651	20,081
General and administrative expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expensed and capitalized amount	$ 1,013	$ 810	$ 345

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Publisher FASB
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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Reference 27: http://www.xbrl.org/2003/role/disclosureRef
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Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Property and Equipment, net

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment, net

The components of the Company’s property and equipment are as follows:


	December 31,
	2023		2022
Leasehold improvements	$	45,050	$	40,829
Office furniture, fixtures and equipment	14,775		14,322
Computer equipment and software	38,798		30,085
Property and equipment, gross	98,623		85,236
Accumulated depreciation	(62,871)		(55,029)
Property and equipment, net	$	35,752	$	30,207

Depreciation expense for the years ended December 31, 2023, 2022, and 2021, was $9.1 million, $7.4 million and $7.1 million, respectively.

As part of the Company's 2020 Plan (as defined below), property and equipment located at certain of the Company's offices was abandoned and the useful life of the assets were shortened to correspond with the cease-use date. As a result of the change in the useful life, approximately $0.9 million of depreciation expense was accelerated and recorded in Restructuring charges in the Consolidated Statement of Comprehensive Income and Depreciation and amortization in the Consolidated Statement of Cash Flows for the year ended December 31, 2021

Property and Equipment, net - Schedule of Property and Equipment (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 98,623	$ 85,236
Accumulated depreciation	(62,871)	(55,029)
Property and equipment, net	35,752	30,207
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	45,050	40,829
Office furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	14,775	14,322
Computer equipment and software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 38,798	$ 30,085

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation The Company has contingent liabilities from various pending claims and litigation matters arising in the ordinary course of the Company’s business, some of which involve claims for damages that are substantial in amount. Some of these matters are covered by insurance. Based upon information currently available, the Company believes the ultimate resolution of such claims and litigation will not have a material adverse effect on its financial condition, results of operations or liquidity.

Pension Plan and Life Insurance Contract - Schedule of Expected Benefit Payments (Detail) $ in Thousands	Dec. 31, 2023 USD ($)
Retirement Benefits [Abstract]
2024	$ 1,289
2025	1,267
2026	1,239
2027	1,206
2028	1,168
2029 through 2033	$ 5,103

Consolidated Statements of Changes In Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Cash dividends per share (in dollars per share)	$ 0.60	$ 0.60	$ 0.60

Credit Losses

12 Months Ended

Dec. 31, 2023

Credit Loss [Abstract]

Credit Losses

The Company is exposed to credit losses primarily through the provision of its executive search, consulting, and on-demand talent services. The Company’s expected credit loss allowance methodology for accounts receivable is developed using historical collection experience, current and future economic and market conditions and a review of the current status of customers' trade accounts receivables. Due to the short-term nature of such receivables, the estimate of amount of accounts receivable that may not be collected is primarily based on historical loss-rate experience. When required, the Company adjusts the loss-rate methodology to account for current conditions and reasonable and supportable expectations of future economic and market conditions. The Company generally assesses future economic conditions for a period of sixty to ninety days, which corresponds with the contractual life of its accounts receivables. Additionally, specific allowance amounts are established to record the appropriate provision for customers that have a higher probability of default. The Company’s monitoring activities include timely account reconciliation, dispute resolution, payment confirmation, consideration of customers' financial condition and macroeconomic conditions. Balances are written off when determined to be uncollectible.

The activity in the allowance for credit losses on the Company's trade receivables is as follows:


	December 31,
	2023		2022		2021
Balance at January 1,	$	6,643	$	5,666	$	6,557
Provision for credit losses	9,574		7,938		4,991
Write-offs	(9,275)		(6,830)		(5,730)
Foreign currency translation	12		(131)		(152)
Balance at December 31,	$	6,954	$	6,643	$	5,666

There were no investments with unrealized losses at December 31, 2023. At December 31, 2022, the fair value and unrealized losses on available for sale debt securities, aggregated by investment category and the length of time the security has been in an unrealized loss position, were as follows:


	Less Than 12 Months				Balance Sheet Classification
Balance at December 31, 2022	Fair Value		Unrealized Loss		Cash and Cash Equivalents		Marketable Securities
U.S. Treasury securities	$	194,056	$	56	$	11,918	$	182,138

The unrealized loss on one investment in U.S. Treasury securities at December 31, 2022, was caused by fluctuations in market interest rates. The contractual cash flows of these investments are guaranteed by an agency of the U.S. government. Accordingly, it is expected that the investments would not be settled at a price less than the amortized cost basis. The Company does not intend to sell the investments and it is not more likely than not that the Company will be required to sell the investments before the recovery of the amortized cost basis.

Guarantees	12 Months Ended
Guarantees	Dec. 31, 2023
Guarantees and Product Warranties [Abstract]
Guarantees	Guarantees The Company has utilized letters of credit to support certain obligations, primarily for office lease agreements and business license requirements for certain of its subsidiaries in Europe and Asia Pacific. The letters of credit were made to secure the respective agreements and are for the terms of the agreements, which extend through 2033. For each letter of credit issued, the Company would have use cash to fulfill the obligation if the subsidiary defaults on a lease payment. The maximum amount of undiscounted payments the Company would be required to make in the event of default on all outstanding letters of credit is approximately $4.5 million as of December 31, 2023. The Company has not accrued for these arrangements as no event of default exists or is expected to exist.

- Definition

The entire disclosure for each guarantee obligation, or each group of similar guarantee obligations, including (a) the nature of the guarantee, including its term, how it arose, and the events or circumstances that would require the guarantor to perform under the guarantee; (b) the maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee; (c) the current carrying amount of the liability, if any, for the guarantor's obligations under the guarantee; and (d) the nature of any recourse provisions under the guarantee, and any assets held either as collateral or by third parties, and any relevant related party disclosure. Excludes disclosures about product warranties.

+ References + Details

Goodwill and Other Intangible Assets - Schedule of Acquired Finite-Lived Intangible Assets by Major Class (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life (in years)	7 years 10 months 24 days
Gross Carrying Amount	$ 39,891	$ 16,236
Accumulated Amortization	(19,049)	(9,903)
Net Carrying Amount	$ 20,842	6,333
Client relationships
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life (in years)	9 years 10 months 24 days
Gross Carrying Amount	$ 26,195	10,720
Accumulated Amortization	(11,443)	(6,164)
Net Carrying Amount	$ 14,752	4,556
Trade name
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life (in years)	3 years
Gross Carrying Amount	$ 5,067	2,406
Accumulated Amortization	(3,069)	(1,925)
Net Carrying Amount	$ 1,998	481
Software
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life (in years)	3 years
Gross Carrying Amount	$ 8,629	3,110
Accumulated Amortization	(4,537)	(1,814)
Net Carrying Amount	$ 4,092	$ 1,296

Financial Instruments and Fair Value - Schedule of Reconciliation of Level 3 Assets and Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Recurring Basis Unobservable Input Reconciliation Liability Gain Loss Statement Of Income Extensible List Not Disclosed Flag	Compensation expense	Compensation expense
Fair Value Recurring Basis Unobservable Input Reconciliation Liability Gain Loss Statement Of Other Comprehensive Income Extensible List Not Disclosed Flag	Foreign currency translation	Foreign currency translation
Acqusition Earnout Accruals
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at December 31, 2022	$ (36,010)
Purchase accounting (see Note 8, Acquisitions)	(36,266)
Earnout accretion	(1,554)
Compensation expense	0
Payments	35,946
Foreign currency translation	(717)
Balance at December 31, 2023	(38,601)	$ (36,010)
Contingent Compensation
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at December 31, 2022	(8,192)
Purchase accounting (see Note 8, Acquisitions)	0
Earnout accretion	0
Compensation expense	(11,934)
Payments	2,038
Foreign currency translation	(790)
Balance at December 31, 2023	$ (18,878)	$ (8,192)

Summary of Significant Accounting Policies - Schedule of Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Cash and cash equivalents	$ 412,618	$ 355,447	$ 545,225
Restricted cash included within other non-current assets	0	42	34
Total cash, cash equivalents and restricted cash	$ 412,618	$ 355,489	$ 545,259	$ 316,489

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Cash and Cash Equivalents

The Company considers all highly liquid instruments with an original maturity of three months or less to be cash equivalents.

Marketable Securities

The Company’s marketable securities consist of available-for-sale debt securities with original maturities exceeding three months.

Concentration of Risk

Accounts Receivable

Fair Value of Financial Instruments

Property and Equipment


Office furniture, fixtures and equipment						5–10 years
Computer equipment and software						3–7 years

Leasehold improvements are depreciated over the lesser of the lease term or life of the asset improvement, which typically range from three to ten years.

Depreciation is calculated for tax purposes using accelerated methods, where applicable.

Other Intangible Assets and Long Lived Assets

Leases

Investments

The Company’s investments consist primarily of available-for-sale investments within the U.S. non-qualified deferred compensation plan (the “Plan”).

Goodwill

reporting unit exceeds its fair value; however, the loss recognized is not to exceed the total amount of goodwill allocated to that reporting unit.

Based on the results of the impairment evaluation, the Company determined that the goodwill within the Heidrick Consulting reporting unit was impaired, which resulted in an impairment charge of $7.2 million to write-off all of the associated goodwill. The impairment charge is recorded within Impairment charges in the Consolidated Statements of Comprehensive Income for the year ended December 31, 2023, and the Consolidated Statements of Cash Flows for the year ended December 31, 2023. The impairment was non-cash in nature and did not affect the Company's current liquidity, cash flows, borrowing capability or operations; nor did it impact the debt covenants under the Company's credit agreement.

Restructuring Charges

The Company accounts for restructuring charges by recognizing a liability at fair value when the costs are incurred.

Revenue Recognition

See Note 3, Revenue.

Cost of Service

Cost of Services

Cost of services consists of third-party contractor costs related to the delivery of various services in the Company's On-Demand Talent and Heidrick Consulting operating segments.

Research and Development

Research and development consists of payroll, employee benefits, stock-based compensation, other employee expenses and third-party professional fees associated with new product development.

Reimbursements

The Company incurs certain out-of-pocket expenses that are reimbursed by its clients, which are accounted for as revenue and expense in its Consolidated Statements of Comprehensive Income.

Salaries and Benefits

Income Taxes

Earnings per Common Share

The following table sets forth the computation of basic and diluted earnings per share:


	December 31,
	2023		2022		2021
Net income	$	54,410	$	79,486	$	72,572
Weighted average shares outstanding:
Basic	20,029		19,758		19,515
Effect of dilutive securities:
Restricted stock units	580		644		587
Performance stock units	157		216		194
Diluted	20,766		20,618		20,296
Basic earnings per share	$	2.72	$	4.02	$	3.72
Diluted earnings per share	$	2.62	$	3.86	$	3.58

Translation of Foreign Currencies

Restricted Cash


	December 31,
	2023		2022		2021
Cash and cash equivalents	$	412,618	$	355,447	$	545,225

Restricted cash included within other non-current assets	—		42		34
Total cash, cash equivalents and restricted cash	$	412,618	$	355,489	$	545,259

Recently Issued Financial Accounting Standards

Employee Benefit Plans	12 Months Ended
Employee Benefit Plans	Dec. 31, 2023
Postemployment Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans Qualified Retirement Plan The Company has a defined contribution retirement plan (the “Plan”) for all eligible employees in the United States. Eligible employees may begin participating in the Plan upon their hire date. The Plan contains a 401(k) provision, which provides for employee pre-tax and/or Roth contributions, from 1% to 50% of their eligible compensation up to a combined maximum permitted by law. The Company matched employee contributions on a dollar-for-dollar basis per participant up to the greater of $6,000, or 6.0%, of eligible compensation for the years ended December 31, 2023, 2022, and 2021. Employees are eligible for the Company match immediately upon entry into the Plan. Those contributions vest annually, provided the employee is employed by the Company on the last day of the Plan year in which the match is made. The Plan also provides for employees who retire, die or become disabled during the Plan year to receive the Company match for that Plan year. The Plan provides that forfeitures will be used to reduce the Company’s contributions. Forfeitures are created by participants who terminate employment before becoming entitled to the Company’s matching contribution under the Plan. The Company also has the option of making discretionary contributions. There were no discretionary contributions made for the years ended December 31, 2023, 2022, and 2021. The expense that the Company incurred for matching employee contributions for the years ended December 31, 2023, 2022, and 2021, was $8.8 million, $7.8 million and $6.8 million, respectively. The Company maintains additional retirement plans in the Americas, Europe and Asia Pacific regions which the Company does not consider as material and, therefore, additional disclosure has not been presented. Deferred Compensation Plans The Company also has a deferred compensation plan for certain U.S. employees (the “U.S. Plan”) that became effective on January 1, 2006. The U.S. Plan allows participants to defer up to 25% of their base compensation and up to the lesser of $500,000 or 25% of their eligible bonus compensation into several different investment vehicles. These deferrals are immediately vested and are not subject to a risk of forfeiture. In 2023 and 2022, all deferrals in the U.S. Plan were funded. The compensation deferred in the U.S. Plan was $46.1 million and $33.4 million at December 31, 2023, and 2022, respectively. The assets of the U.S. Plan are included in Investments and the liabilities of the U.S. Plan are included in Retirement and pension plans in the Consolidated Balance Sheets as of December 31, 2023, and 2022. The Company also has a Non-Employee Directors Voluntary Deferred Compensation Plan whereby non-employee members of the Company’s Board of Directors may elect to defer up to 100% of the cash component of their directors’ fees into several different investment vehicles. As of December 31, 2023, and 2022, the total amounts deferred under the plan were $1.2 million and $1.0 million, respectively, all of which were funded. The assets of the plan are included in Investments and the liabilities of the plan are included in Retirement and pension plans in the Consolidated Balance Sheets at December 31, 2023, and 2022. The U.S. Plan and Non-Employee Directors Voluntary Deferred Compensation Plan consist primarily of marketable securities and mutual funds, all of which are valued using Level 1 inputs (See Note 7, Financial Instruments and Fair Value).

Revenue - Narrative (Details) $ in Millions	12 Months Ended
Revenue - Narrative (Details) $ in Millions	Dec. 31, 2023 USD ($)
Deferred Revenue Arrangement [Line Items]
Revenue, performance obligation, description of timing	six months
Deferred revenue recognized	$ 39.4
Contract with customer, performance obligation satisfied in previous period	$ 19.9

Credit Losses - Schedule of Accounts Receivable, Allowance for Credit Loss (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at January 1,	$ 6,643	$ 5,666	$ 6,557
Provision for credit losses	9,574	7,938	4,991
Write-offs	(9,275)	(6,830)	(5,730)
Foreign currency translation	12	(131)	(152)
Balance at December 31,	$ 6,954	$ 6,643	$ 5,666

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Schedule of Property and Equipment

Property and Equipment


Office furniture, fixtures and equipment						5–10 years
Computer equipment and software						3–7 years

The components of the Company’s property and equipment are as follows:


	December 31,
	2023		2022
Leasehold improvements	$	45,050	$	40,829
Office furniture, fixtures and equipment	14,775		14,322
Computer equipment and software	38,798		30,085
Property and equipment, gross	98,623		85,236
Accumulated depreciation	(62,871)		(55,029)
Property and equipment, net	$	35,752	$	30,207

Schedule of Earnings Per Share, Basic and Diluted

The following table sets forth the computation of basic and diluted earnings per share:


	December 31,
	2023		2022		2021
Net income	$	54,410	$	79,486	$	72,572
Weighted average shares outstanding:
Basic	20,029		19,758		19,515
Effect of dilutive securities:
Restricted stock units	580		644		587
Performance stock units	157		216		194
Diluted	20,766		20,618		20,296
Basic earnings per share	$	2.72	$	4.02	$	3.72
Diluted earnings per share	$	2.62	$	3.86	$	3.58

Schedule of Cash and Cash Equivalents


	December 31,
	2023		2022		2021
Cash and cash equivalents	$	412,618	$	355,447	$	545,225

Restricted cash included within other non-current assets	—		42		34
Total cash, cash equivalents and restricted cash	$	412,618	$	355,489	$	545,259

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Sources of Income before Income Taxes

The sources of income before income taxes are as follows:


	December 31,
	2023		2022		2021
United States	$	52,572	$	57,274	$	68,122
Foreign	36,099		57,962		37,907
Income before income taxes	$	88,671	$	115,236	$	106,029

Schedule of Provision for Income Taxes

The provision for income taxes are as follows:


	December 31,
	2023		2022		2021
Current
Federal	$	12,009	$	13,405	$	21,200
State and local	4,644		6,748		9,341
Foreign	12,721		8,813		9,802
Current provision for income taxes	29,374		28,966		40,343

Deferred
Federal	2,996		3,702		(3,373)
State and local	1,334		1,113		(1,825)
Foreign	557		1,969		(1,688)
Deferred provision (benefit) for income taxes	4,887		6,784		(6,886)
Total provision for income taxes	$	34,261	$	35,750	$	33,457

Schedule of Reconciliation of Provision for Income Taxes

A reconciliation of the provision for income taxes to income taxes at the statutory U.S. federal income tax rate of 21% is as follows:


	December 31,
	2023		2022		2021
Income tax provision at the statutory U.S. federal rate	$	18,621	$	24,199	$	22,266
State income tax provision, net of federal tax benefit	4,974		5,475		4,994
Nondeductible expenses, net	8,437		4,036		2,833
Foreign taxes (includes rate differential and changes in foreign valuation allowance)	4,158		1,647		1,910
Release of valuation allowance	(185)		—		(157)
Additional U.S. tax on foreign operations	(300)		436		242


Other, net	(1,444)		(43)		1,369
Total provision for income taxes	$	34,261	$	35,750	$	33,457

Schedule of Deferred Tax Assets and Liabilities

The deferred tax assets and liabilities are attributable to the following components:


	December 31,
	2023		2022
Deferred tax assets attributable to:
Operating lease liability and accrued rent	$	15,490	$	16,693
Foreign net operating loss carryforwards	11,658		14,528
Accrued compensation and employee benefits	12,678		20,776
Deferred compensation	19,245		17,994
Foreign tax credit carryforwards	7,820		5,522
Other accrued expenses	10,515		6,257
Deferred tax assets, before valuation allowance	77,406		81,770
Valuation allowance	(22,233)		(20,724)
Deferred tax assets, after valuation allowance	55,173		61,046

Deferred tax liabilities attributable to:
Operating lease, right-of-use, assets	11,715		13,020
Goodwill	17,731		9,493

Depreciation on property and equipment	2,731		3,449
Other	1,393		1,592
Deferred tax liabilities	33,570		27,554
Net deferred tax assets	$	21,603	$	33,492

Schedule of Reconciliation of Amounts of Gross Unrecognized Tax Benefits

A reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits is as follows:


	December 31,
	2023		2022		2021
Gross unrecognized tax benefits at January 1,	$	—	$	—	$	416
Gross increases for tax positions of prior years	—		—		6
Gross decreases for tax positions of prior years	—		—		(14)
Settlements	—		—		(408)

Gross unrecognized tax benefits at December 31,	$	—	$	—	$	—

Revenue (Tables)

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Schedule of Changes in Contract Asset and Liability

The following table outlines the changes in our contract asset and liability balances for the years ended:


	December 31,
	2023		2022		Change
Contract assets
Unbilled receivables, net	$	15,318	$	13,940	$	1,378
Contract assets	16,774		21,348		(4,574)
Total contract assets	32,092		35,288		(3,196)

Contract liabilities
Deferred revenue	$	45,732	$	43,057	$	2,675

Revenue - Schedule of Changes in Contract Asset and Liability (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Contract assets
Unbilled receivables, net	$ 15,318	$ 13,940
Contract assets	16,774	21,348
Total contract assets	32,092	35,288
Contract liabilities
Deferred revenue	45,732	$ 43,057
Change in contract assets
Unbilled receivables, net	1,378
Contract assets	(4,574)
Total contract assets	(3,196)
Change in contract liabilities
Deferred revenue	$ 2,675

Restructuring (Tables)

12 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

Schedule of Restructuring Charges by Segment

Restructuring charges (reversals) for the year ended December 31, 2021, by type of charge (reversal) and operating segment are as follows:


	Executive Search
	Americas		Europe		Asia Pacific		Heidrick Consulting		Global Operations Support		Total
Employee related	$	20	$	(97)	$	(124)	$	(44)	$	62	$	(183)
Office related	3,859		—		—		399		(296)		3,962
Other	3		—		—		—		10		13
Total	$	3,882	$	(97)	$	(124)	$	355	$	(224)	$	3,792

Restructuring charges incurred to date under the 2020 Plan, which are solely comprised of prior period charges, by type of charge and reportable segment are as follows:


	Executive Search
	Americas		Europe		Asia Pacific		Heidrick Consulting		Global Operations Support		Total
Employee related	$	16,226	$	8,256	$	4,110	$	2,589	$	1,416	$	32,597
Office related	18,101		226		374		2,352		1,819		22,872
Other	34		24		6		71		560		695
Total	$	34,361	$	8,506	$	4,490	$	5,012	$	3,795	$	56,164

Schedule of Restructuring and Related Costs

Changes in the restructuring accrual for the years ended December 31, 2023, 2022, and 2021 were as follows:


	Employee Related		Office Related		Other		Total
Accrual balance at December 31, 2020	22,312		953		—		23,265
Restructuring charges	(183)		3,962		13		3,792
Cash payments	(13,702)		(738)		(13)		(14,453)
Non-cash write-offs	44		(4,190)		—		(4,146)
Exchange rate fluctuations	(77)		13		—		(64)
Accrual balance at December 31, 2021	8,394		—		—		8,394
Cash payments	(4,853)		—		—		(4,853)
Non-cash write-offs	(34)		—		—		(34)
Exchange rate fluctuations	(85)		—		—		(85)
Accrual balance at December 31, 2022	$	3,422	$	—	$	—	$	3,422
Cash payments	(3,516)		—		—		(3,516)
Exchange rate fluctuations	94		—		—		94
Accrual balance at December 31, 2023	$	—	$	—	$	—	$	—

Segment Information - Adjusted EBITDA (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Revenue before reimbursements (net revenue)	$ 1,026,864,000	$ 1,073,464,000	$ 1,003,001,000
Net income	54,410,000	79,486,000	72,572,000
Interest, net	(11,617,000)	(5,337,000)	(302,000)
Other, net	(1,697,000)	2,367,000	(7,463,000)
Provision for income taxes	34,261,000	35,750,000	33,457,000
Operating income	75,357,000	112,266,000	98,264,000
Depreciation	9,113,000	7,394,000	7,150,000
Intangible amortization	9,395,000	3,209,000	2,898,000
Earnout accretion	1,554,000	820,000	486,000
Earnout fair value adjustments	0	(464,000)	11,368,000
Acquisition contingent consideration	11,934,000	3,885,000	1,973,000
Deferred compensation plan	6,132,000	(6,232,000)	3,057,000
Reorganization costs	4,886,000	0	0
Impairment charges	7,246,000	0	0
Restructuring charges	0	0	3,792,000
Total adjustments	50,260,000	8,612,000	30,724,000
Adjusted EBITDA	$ 125,617,000	$ 120,878,000	$ 128,988,000
Adjusted EBITDA margin	12.20%	11.30%	12.90%
Service
Segment Reporting Information [Line Items]
Revenue before reimbursements (net revenue)	$ 1,026,864,000	$ 1,073,464,000	$ 1,003,001,000

Acquisitions (Details) - USD ($) $ in Thousands			3 Months Ended				12 Months Ended
Acquisitions (Details) - USD ($) $ in Thousands	Apr. 01, 2023	Feb. 01, 2023	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Apr. 30, 2023	Feb. 28, 2023	Dec. 31, 2020
Business Acquisition [Line Items]
Payments to acquire businesses, gross							$ 49,858	$ 0	$ 33,518
Goodwill			$ 202,252				202,252	$ 138,361	$ 138,524			$ 91,643
Impairment							7,246
Heidrick Consulting Reporting Units
Business Acquisition [Line Items]
Impairment					$ 7,200		7,200
Atreus
Business Acquisition [Line Items]
Payments to acquire businesses, gross			$ 12,100			$ 33,400
Future consideration, minimum		$ 30,000
Future consideration, maximum		40,000
Goodwill		62,400
Revenue of acquiree since acquisition							70,400
Operating loss of acquiree since acquisition							7,900
Atreus \| Acqusition Earnout Accruals \| Fair Value, Inputs, Level 3
Business Acquisition [Line Items]
Acquisition earnout accrued		32,000
Atreus \| Client relationships
Business Acquisition [Line Items]
Finite-lived intangibles acquired		11,300
Atreus \| Software
Business Acquisition [Line Items]
Finite-lived intangibles acquired		5,400
Atreus \| Trade name
Business Acquisition [Line Items]
Finite-lived intangibles acquired		$ 2,500									$ 2,500
Businessfourzero
Business Acquisition [Line Items]
Payments to acquire businesses, gross				$ 2,200	$ 9,500
Future consideration, minimum	$ 4,000
Future consideration, maximum	8,000
Goodwill	7,100
Revenue of acquiree since acquisition							11,200
Operating loss of acquiree since acquisition							$ 11,000
Businessfourzero \| Acqusition Earnout Accruals \| Fair Value, Inputs, Level 3
Business Acquisition [Line Items]
Acquisition earnout accrued	4,300
Businessfourzero \| Client relationships
Business Acquisition [Line Items]
Finite-lived intangibles acquired	3,500									$ 3,500
Businessfourzero \| Trade name
Business Acquisition [Line Items]
Finite-lived intangibles acquired	$ 500									$ 500

Employee Benefit Plans - Narrative (Detail) - USD ($)	12 Months Ended
Employee Benefit Plans - Narrative (Detail) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Minimum amount of employee contributions	$ 6,000	$ 6,000	$ 6,000
Defined contribution plan, employer matching contribution, percent of match	6.00%	6.00%	6.00%
Discretionary contribution amount	$ 0	$ 0	$ 0
U.S. Plan
Defined Benefit Plan Disclosure [Line Items]
Percentage to defer up base compensation of employees, effective from January 1, 2006	25.00%
Amount to defer up bonus compensation of employees, effective from January 1, 2006	$ 500,000
Percentage to defer up eligible bonus compensation, effective from January 1, 2006	25.00%
Amount of compensation deferred in plan	$ 46,100,000	33,400,000
Percentage to Defer Up Cash Component of Director's Fees for Non-employee
Defined Benefit Plan Disclosure [Line Items]
Percentage to defer up directors' fees	100.00%
Non-Employee Directors Voluntary Deferred Compensation Plan
Defined Benefit Plan Disclosure [Line Items]
Amount of compensation deferred in plan	$ 1,200,000	1,000,000
Qualified Plan
Defined Benefit Plan Disclosure [Line Items]
Percentage for employee pre-tax and/or after-tax contributions, minimum	1.00%
Percentage for employee pre-tax and/or after-tax contributions, maximum	50.00%
Defined contribution plan, cost	$ 8,800,000	$ 7,800,000	$ 6,800,000