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Posted by on in Company Blog

Q: Should we negotiate a more favorable fee structure with our executive recruiting partner? and, if so, how do we do that?

Foto7.jpgA: This is what separates a true "partnership" from a typical outsourced arrangement. When a prospective client asks the question, we know they're serious. We love to engage in challenging tasks but we would like to be assured of being compensated. Notice, we didn't say how much. The takeaway here is that we'd be happy to reduce our fees (sometimes substantially) for an agreed upon exclusive right to hire. Bring it.

Q: How do you justify your fees (especially in the current business climate)?

A: Our fees are far less than huge global firms and perhaps the most competitive in the entire industry. We work hard to understand the nuances, cultural fit , and "X factor" required for a long term match, and expect the individual to make repeated contributions earning an impressive ROI for our client

Q: Why is your approach the best for us?

A: Because here you get the best ROI and the best experience, specific -- we deliver:

Better quality candidates (testimonials prove it)

Hires who stay longer (we've kept score)

More rigorous vetting (nobody does what we do in this case)

More accurate fits (presume their longer tenure proves this)

 

How we deliver a better client experience:

More trust due to highest integrity

Proven repeatable method - it just works

Worry free due to track record, and approach

 

Q: What happens during a retained search?

A: Here is an example of a retained executive search firm:

Discovery call with The Executive Search Group founder and CEO Tim McIntyre

Contract with The Executive Search Group for a specific search project

Meet vetted candidates who are proven, remarkable performers

Hire With Certainty -- higher return on investment

 

Q: What happens during a contingency search?

A: Here is an example of a contingency executive search:

Discovery call with The Executive Search Group founder and CEO Tim McIntyre

Receive summaries on top candidates who are proven, accomplished professionals/executives

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Executive Human capital, ahh. Everyone loves to talk about "gender diversity" and boardroom issues, surveys, why women leaders are leaving the workforce and talent acquisition, and all sorts of discourse, but in reality, very few are doing anything about really Targeting and Recruiting them.

fotolia_16150650_xs-resized-600.jpgFor example, our search firm has published (an almost) quarterly survey sent to thousands and thousands of corporate personnel, and while there is strong sentiment and responses, and continuous downloading of ebooks and other materials  when conversing with the head of diversity, or senior HR folks or heads of lines of businesses, clearly, these are academic pursuits for most,getting up to speed on the latest lingo for that upcoming meeting, or preparing to foist off on unsuspecting colleagues, bosses or watchful eyes the latest spin on "breaking the glass ceiling".

In fact, the conversations I've had with leading organizations prove that almost all of them are strictly giving lip service to recruitment of female leaders and executives. It seems to me, that if you are serious about finding talented executives, you simply budget for it, and get it done. Even if there's a shortage of skilled engineering or more technical talent, then you go in on the 'succession plan' modis operandi, and begin to recruit the most promising middle management folks you can and see if they'll bloom through mentorship. Is anybody other than JNJ or TIAA-CREF doing this?

Sites like theglasshammer.com list openings for a select few sponsors and prattle about gender diversity (with the best of intentions) but if those companies don't pony up the recruiting funds and get engaged, then really, how serious are they? Love to hear your comments. Thanks for reading. BTW, we always adhere to the philosophy "best person wins the job", and as recruiters its about finding a broader array of talent to level the playing field.

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Job Market Affects Executive Recruiting

Posted by on in Company Blog

Over three years ago USA Today asked, "Is the nation's stubbornly high unemployment caused by long-lasting structural changes to the job market or cyclical forces that should neatly resolve in a couple of years? Talent acquisition followup:

Fotolia 10061052 Xs Resized 600Two college professors who had recently won the Nobel Memorial Prize in Economic Sciences for their work on job searches differed on the question. The issue had divided top economists and had some in the executive recruiting industry wondering too.

Peter Diamond, 70, an MIT economics professor who had been nominated by President Obama to serve on the Federal Reserve, said the jobless rate, then 9.6%, should return to its normal rate, generally deemed to be 5% to 6%.

"I'm a believer in markets. I'm a believer in capitalism," Diamond said at a news conference. "I don't think that with suitable macroeconomic policies, there's any reason to think that in time we won't go back to a more normal level of unemployment."

Fellow Nobel laureate Dale Mortensen, 71, economics professor at Northwestern University, noted that job openings have risen even while unemployment remains high. "There are some structural issues there — a mismatch between jobs and workers that are available," Mortensen said at a separate news conference.

The two, along with Christopher Pissarides of the London School of Economics, won the award for "their analysis of markets with search frictions."

Why are employers and workers often unable to find each other even if wages are seemingly at ideal levels? Your thoughts?

Here's a state by state unemployment rate "look back" (seasonally adjusted):

State
Nov. 2009
Nov. 2010
Change
ALABAMA
10.9%
9.0%
-1.9
ALASKA
8.5%
8.0%
-0.5
ARIZONA
9.3%
9.4%
0.1
ARKANSAS
7.6%
7.9%
0.3
CALIFORNIA
12.3%
12.4%
0.1
COLORADO
7.4%
8.6%
1.2
CONNECTICUT
8.7%
9.0%
0.3
DELAWARE
8.6%
8.4%
-0.2
D.C.
11.6%
9.8%
-1.8
FLORIDA
11.6%
12.0%
0.4
GEORGIA
10.2%
10.1%
-0.1
HAWAII
6.9%
6.4%
-0.5
IDAHO
9.0%
9.4%
0.4
ILLINOIS
10.9%
9.6%
-1.3
INDIANA
9.8%
9.8%
0
IOWA
6.5%
6.6%
0.1
KANSAS
6.7%
6.8%
0.1
KENTUCKY
10.7%
10.2%
-0.5
LOUISIANA
7.3%
8.2%
0.9
MAINE
8.1%
7.3%
-0.8
MARYLAND
7.3%
7.4%
0.1
MASSACHUSETTS
9.2%
8.2%
-1
MICHIGAN
14.4%
12.4%
-2
MINNESOTA
7.6%
7.1%
-0.5
MISSISSIPPI
10.4%
9.9%
-0.5
MISSOURI
9.6%
9.4%
-0.2
MONTANA
6.6%
7.2%
0.6
NEBRASKA
4.6%
4.6%
0
NEVADA
12.9%
14.3%
1.4
NEW HAMPSHIRE
6.9%
5.4%
-1.5
NEW JERSEY
9.9%
9.2%
-0.7
NEW MEXICO
8.1%
8.5%
0.4
NEW YORK
8.9%
8.3%
-0.6
NORTH CAROLINA
10.9%
9.7%
-1.2
NORTH DAKOTA
4.3%
3.8%
-0.5
OHIO
10.8%
9.8%
-1
OKLAHOMA
6.8%
6.9%
0.1
OREGON
10.7%
10.6%
-0.1
PENNSYLVANIA
8.7%
8.6%
-0.1
RHODE ISLAND
12.5%
11.6%
-0.9
SOUTH CAROLINA
12.3%
10.6%
-1.7
SOUTH DAKOTA
4.7%
4.5%
-0.2
TENNESSEE
10.7%
9.4%
-1.3
TEXAS
8.2%
8.2%
0
UTAH
6.6%
7.5%
0.9
VERMONT
6.7%
5.7%
-1
VIRGINIA
6.8%
6.8%
0
WASHINGTON
9.2%
9.2%
0
WEST VIRGINIA
8.9%
9.3%
0.4
WISCONSIN
8.6%
7.6%
-1
WYOMING
7.5%
6.6%
-0.9
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Talent Acquisition At The Director Level

Posted by on in Company Blog
How do you distinguish who CAN deliver at the director level?

As an executive recruiting professional, I am here to tell you how tricky this playing field is. How do you distinguish who's got the 'chops' to deliver at the director level? I think playing in that space for a while provides some clues.

Success & failure rates

I mean, with C level hires you get a bit more transparency, with the facts and figures more readily available with due diligence -- hardly the same with executive directors.

If you look at statistics, people who fail in a new job (at this level) typically do so in the first year and it's because of the issue of fit. Are they not able to work well with the team to effectively? Can't get onboard or find the footing to help move the organization forward, perhaps?

Cultural fit

With new dynamics in executive recruiting, will the issue of cultural-fit be seen as just an added bonus, or is it as important as the specific skills and experience of the candidates? How can companies ensure that new hires match the culture of the company?

Cultural fit has definitely become paramount because companies are moving faster and have the need to build teams that work as a cohesive group. They want to bring in people who are like-minded and goal-oriented. Working with an executive recruiter gives companies an advantage because we only present candidates we feel strongly will be successful in that culture. The position as described on paper is one aspect, but the ‘x factor', or the connection the individual has with the interview team and the company, is also important.

Outside in

We've seen a trend toward looking at ‘out-of-the-box' candidates - so, when is hiring someone with a background outside your specific industry sector a good idea, and when should it be avoided? This is where crowdsourcing can potentially augment, not replace, referencing.

As an industry example, in the convergence of broadcast cable, radio and publishing, this has meant that it's almost standard operating procedure to hire someone from the publishing world into the cable network. Clients are looking for other industry experience and exposure, so they're not really considered ‘out-of-the-box' candidates anymore. Of course, there are certain functional areas that are not transferable and are more industry driven.

It's certainly a good idea to look outside the box when you're looking for creativity, new thinking or new ideas. Perhaps you have people who've been with the company for a long time and you would like to stimulate or challenge their views. However, when an organization is in a turnaround situation, it's probably not a good idea because you need people who can hit the ground running with very specific expertise and minimum risk to the talent acquisition strategy.

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In a fairly recent executive recruiting survey we did, the answers to our questions, posed to twenty thousand people proved insightful. Question was about obstacles to a gender diverse workplace as part of a talent acquisition strategy. A couple really interesting answers follow:

1foto.jpg"One of our biggest obstacles has been when we focus on gender diversity as a primary driver to finding a candidate. When we focus on finding the best candidate, regardless of race or gender, we tend to find great candidates. We are a very diverse team with less than 20% white males and the diversity has come naturally."

But I loved this one most:

"None, I work for the USAF and the opportunities are there for anyone who has the drive and dedication to their job."

Surprised? Okay, check this one out then:

Q: Overall, how do you rate your current employer as a gender diverse place to work compared to other places you've worked?

Eighty-five percent answered Excellent or Good.

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