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Executive Search February 2011 Arunesh Chand Mankotia


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Executive Search February 2011 Arunesh Chand Mankotia

  1. 1. 1 Korn Ferry2 Spencer Stuart3 Heidrick & Struggles4 Egon Zehnder International5 Russell Reynolds6 Odgers Ray Berndtson 2
  2. 2. Leading Global Search Firms Worldwide AT Kearney  Egon Zehnder International Accord Group  Globe Partnership Amrop Hever  Heidrick & Struggles Boyden  Horton International Christian & Timbers  IIC partners DHR International  ITP Worldwide 3
  3. 3.  Intersearch  Spencer Stuart Korn/Ferry International  Stanton Chase Penrhyn International  Hudson Highland Partners Russell Reynolds  Transearch International Association  Whitehead Mann Group Signium International 4
  4. 4. When to engage a headhunterSooner rather than later! Only engage a headhunter if:  You really like his consulting skills  The person is an expert on your market  He can show evidence of a quick, accurate, effective delivery  He can tell you something you don’t already know!  He can assess which candidates are really open to the offer 5
  5. 5.  Global firm or specialised boutique? Integrated firm or network? Public or private firm? Retained or contingency firm? Other important selection criteria… 6
  6. 6. Consolidation of the search industry into:  Big global firms (Korn Ferry, Heidrick, Egon Zehnder)  Small, specialized boutiques (finance, legal, technical, human resources) 7
  7. 7.  Integrated firms can have dedicated global key account teams to insure maximum client service Networks must work harder to achieve effective, seamless cross border search with the same consistent quality standards worldwide Headhunters must avoid arguing over fees 8
  8. 8. Public vs Private Ownership  Stock market listed (Korn Ferry, Heidrick, Whitehead Mann)  Private Firms (Egon Zehnder, Spencer Stuart, Russell Reynolds) 9
  9. 9. Retained executive search:  Work exclusively for their clients on an ongoing basis  Targeted at senior and non-executive management  Dedicated consultants who know the sector well  High average compensationContingency search:  Fee is paid ONLY if the search is completed successfully  Targeted at middle to upper middle management  Lower average compensation*** retained search is based on a more comprehensive process including: upfront detailed market knowledge and candidate analysis *** 10
  10. 10.  The ideal search firm can do multi-country, seamless cross border search Look for a global compensation system that motivates consultants to assist their colleagues in other markets Look for dedicated sector, industry, functional specialists who know your market sector as well as you do 11
  11. 11. Dedicated teams of consultants organized by:  Industry sector (entertainment, media, energy, biotech)  Function (legal/compliance, CFOs, human resources, marketing)  Geographic region (Middle-East or CEE specialists) 12
  12. 12. Diversification into new services  Non-executive board search  Management assessment  Executive coaching  HR outsourcing/project management (Korn Ferry’s RPO - recruitment HR outsourcing) 13
  13. 13. Focus on quality of delivery  Most important criteria  Expertise  Reputation  Ambassadorial ability  Speed  Communication 14
  14. 14. *** How many of youwould regard your use of a search firm as successful? *** 15
  15. 15. “a headhunter can crash your competition… He canbe your guerilla mercenary”  When there is empathy between the client and the consultant  When they have a thorough knowledge of the client. Are well briefed, know the market and candidate pool well, and have the time to be thorough and systematic  When they take the time to find valuable references  When they establish a vigorous time frame and stick to it  When they can devote the time because they don’t have too many other assignments. 16
  16. 16. Search firms must transform themselves fromtransaction based vendors to trusted advisors anddevelop close personal relationships with theirclients…Advice to clients:  Be focused with a clear idea of what you want to achieve  Be decisive about relevant candidates  Develop a real partnership based on openness and trust  Ensure that there is good communication between those who will decide who to hire, human resources and the consultant 17
  17. 17. Advice to clients:  Show sincere interest in the search and do not simply outsource it to the headhunter  Give the headhunter plenty of access to your management team  Give prompt and thorough feedback to the candidate  Use only one search firm for the assignment  Reach hiring decisions quickly  Keep on top of the headhunter, but do not be overbearing. Ask for updates and progress reports  Involve the headhunter in your succession planning meetings  Only by being totally involved can he think strategically about your client needs 18
  18. 18.  A mechanism for building trust, not for cutting costs Encourages an in-depth global relationship with a client Frame agreement for a long term relationship Ideally not a procurement driven process 19
  19. 19. Client audit is essential  Recruitment expenditure  Time to hire  Candidate retention and job success 20
  20. 20. Thank YouArunesh Chand Mankotia 21