From: www.Heidrick.com | Heidrick & Struggles | Building high-performance boards
The best search firms offer related services such as professional development and executive assessment to support a new executive’s integration into a client’s organization
The best executive search firms do not treat engagements as stand-alone assignments to be dispatched hastily. Each search should enhance client leadership and build on prior additions, creating over time a continually strong leadership team that helps our clients not only to compete in today’s marketplace, but also to win.
The pace of change in business has accelerated dramatically over the past decade, and promises to continue on its present course. During this time we all have become familiar with the speed at which a company’s well-being and leadership needs can chang as new competitors arise, customer preferences shift, and alternativetechnologies emerge.
The search for an executive can either intensify the potentially destabilizing effects of today’s business climate or provide the opportunity to turn them around for competitive advantage. The difference depends upon the ability to accurately assess the current leadership gap and to fill this gap within the context of longer-term organizational needs, structure and culture. This skill is powerful when it emanates from a long-term partnership between executive search firm and client. It is, in fact, the chief reason for their alliance.
Building Leadership Teams
The best executive search firms do not treat engagements as stand-alone assignments to be dispatched hastily; nor should a client organization consider the search firm an entity hired only to perform a single task and make its exit. Throughout our history, Heidrick & Struggles has practiced a consultative approach to executive search. Both parties are best served by fostering a long-term relationship with the mutual goals of securing the best candidate for the current opportunity and of building strong leadership teams over time – teams from which competitive advantages can emerge.
To accomplish these immediate and longer-term goals, every executive search demands satisfaction of unique requirements and points of emphasis. Still, most searches progress through five general phases. Each phase presents an opportunity for client and search firm to share and integrate their own perspectives and best practices into the process.
Organizational review
The initial consultative phase is arguably the most important in executive search engagements. A thorough due diligence and needs assessment on the client organization is vital to achieving a positive and successful search outcome. During this phase, the search team meets with search committee members, select board directors, senior management, departmental directors, and/or other relevant stakeholders to gather information on the company’s goals, strategies and culture. The search consultant and client then partner to create specifications for the desired position. A good search firm leverages its experience with previous engagements to assist the client in assessing the demands, qualifications and expectations of the position in light of marketplace realities.
Further, expectations regarding the candidates’ backgrounds, abilities and competencies,potential compensation arrangements and related information are discussed in depth. Finally,industry segments likely to yield appropriate candidates are identified and reviewed. At this time, viable internal candidates may be identified and included in the evaluation phase.
Candidate identification and review
Based on the position specifications and the client’s stated criteria and preferences, the search firm then identifies an initial slate of qualified candidates from among its network of executives. It may also survey its own global consultancy for input on appropriate and potentially interested candidates,or candidates who are content in their current situation but who might be willing to consider another opportunity. Each candidate is considered for pertinent experience, skills and cultural fit. Suitable candidates are approached by the search firm, directly and confidentially, to gauge interest and career goals. A high level of familiarity and access to the market’s most talented and experienced individuals provide a clear advantage here, for a candidate’s response to a recruiter’s call and receptiveness to an opportunity are key. Many search firms claim this level of access and influence; only a few can actually deliver.
During this time – and throughout the engagement – the client should contact the search firm if additional or different information concerning the position emerges. The most capable search firms can adjust their approach accordingly with impressive alacrity. Upon conclusion of this phase, the search firm typically delivers a full status report to the client.
Candidate interview and presentation
This phase of an executive search is where a search firm and its consultants add the most value. Gleaning the knowledge about the client company, and drawing from years of experience in assessing executives’ credentials, their ability to transfer skills, and their capacity to positively impact a business, the search’s lead consultant now embarks upon a series of extensive interviews with internal and external candidates, assessing in detail the skills, interest level and cultural fit of each. Only the most qualified candidates may be presented to the client, or the client may choose to review all assessments. In either case, a select group of candidates is invited to meet with the client.
Top-tier search firms facilitate interview scheduling and handle logistics such as travel arrangements. It is during this phase when the time frame of a search is most affected since interviews are subject to client and candidate availability.
Candidate selection and presentation of offer
Client participation is always important. But at this stage, client input and decisions are paramount. The search consultant helps the client work through the decision-making process, but the final decision ultimately rests with the client. The client shares with the consultant all interview feedback, which the consultant augments with an analysis of each candidate’s strengths and ability to meet the company’s current and future needs. If additional candidates are desired, the search firm identifies and presents them on an accelerated schedule. Educational credentials are verified before candidates are presented; as soon as a clear choice emerges, formal reference checks are performed and reported by the search firm. Top-notch search firms also provide input on a candidate’s desired compensation, and assist the client in formulating an offer, presenting it to the candidate, and negotiating its acceptance.
Should extensive, complex negotiations be required, the client and search firm may choose to tap an external compensation consultant until an agreement is reached.
Transition, closure and follow-up
This final phase includes assistance from the search firm in transition planning and executive integration, if needed. Most search firms also conduct a closing review to gauge the client’s perceptions and level of satisfaction. As part of a consultative approach to executive placement, follow-up can continue through whatever time frame is mutually acceptable. The best search firms also offer related services such as professional development and executive assessment to support the new executive’s integration into the client’s organization. Professional coaching – or “on-boarding” – during the executive’s first 100 days, for example,increasingly is chosen by companies as a way to protect their investment in the new executive.
Heidrick & Struggles: the value we provide
We are rigorous throughout the search process to ensure that we maintain high standards of excellence. An emphasis on quality is at the forefront of every search we conduct.
Our reputation as the world’s premier resource for executive search and leadership consulting services is based on the value we provide to clients through a consultative and professional approach. Access and knowledge A global network of consultants possessing geographic, functional and industry expertise. Skill A demonstrated ability to assess and recruit executives across all industries. Resources: comprehensive analysis An objective analysis of the required skills and competencies for a given position using state-of-the-art assessment tools, proven interview techniques, appropriate sourcing and professional referencing.
Solutions: insight and judgment
An intrinsic understanding of the values and critical success factors required to successfully complete each assignment as well as to build upon for a long-term, mutually beneficial partnership.
Mexico Executive Search Executive Recruiters, Heidrick & Struggles, Mexico Executive Search
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