Secrets of the Executive Search Experts
By Christian Schoyen and Nils RasmussenPart I Executive Search Research Methodology 1
Chapter 1 Beginning the Search and Defining the Job 3
Defining the Job 7
Chapter 2 Identifying the Candidate Sources 13
Selecting Likely Industries 13
Identifying Target Companies 14
Sourcing for Specific Individuals 15
Time Schedule 17
Chapter 3 Identifying Specific Candidates 19
Sourcing 20
Documentation (Recording Information) 29
Modern Electronic Search Systems 35
Candidate Backgrounds (Resumes ) 40
Chapter 4 Interviewing and Screening 42
Basic Screening 42
Candidate Development 43
The Face-to-Face Interview 44
Written Presentation of Candidates 52
Chapter 5 Reference Checks 61
Resume Inflation 62
Preliminary Reference Check 63
Regular Reference Check 65
Reference Report 67
Chapter 6 Closing the Search 73
Closing Out Candidates and Sources 73
Closeout File 74
Part II The Executive Search Profession 79
Chapter 7 Working With an Executive Search Firm 81
Categories of Recruiting Firms 81
How Much Will It Cost? 83
How to Select an Executive Search Firm 84 Working With the Executive Search Firm 87
Your Role in the Search Process Versus
the Executive Search Firm's Role 88
Chapter 8 Interview With the Experts 90
Henrietta Dacis, Research Director
Korn/Ferry International 90
Justin Carpenter, Research Manager
A. T. Kearney Executive Search 92
Doug Smith, Managing Director
Ward Howell International 96
Acknowledgments
This book has been made possible thanks to important contributions and guidance from several people in the field of executive search. We especially want to thank Research Director Henrietta Davis and partner Andrew Knox at Korn/Ferry International in Century City, California; ResearchManager Justin Carpenter at A. T. Kearney Executive Search in London; and Practice Leader for Ward Howell International's Automotive Group, Doug Smith.
In addition we want to thank the 145 researchers and associates world- wide who have also contributed valuable information on how they each conduct research. These professionals work in a total of thirty countries in three of the leading executive search firms in the world:
▲ Korn/Ferry International
▲ Ward Howell International
▲ A. T. Kearney Executive Search
Thanks to the insight of all these experienced people we have been able to create an easy-to-use and extremely efficient and professional model for executive search research.
Introduction
The goal of this book is to provide human resource professionals and managers with a unique tool that explains how the leading executive search experts work. This book combines the long-kept secrets of the modern executive search experts with today's user-friendly information technology, in a domestic and global perspective. By understanding this work model, you can improve your own routines for hiring new executive, managerial, and professional staff by applying some or all of the methods yourself or you can simply better understand your search firm and thereby be able to work with them for optimal results.The recruiting methods described in this book are based on executive search methodology, proven to be the most effective and thorough way to recruit the best talents. Executive search aims at tracking down and recruiting people who are doing a great job in their current companies. Because of their superior performance, they are usually well respected and integrated into their existing work environment, and therefore not actively looking for new jobs. These individuals do not regularly read the job ads in the classifieds and therefore need to be identified and then approached on a direct, individual basis.
Executive search has long traditions, going all the way back to the1920s in the United States, and with time, the work models have changed from being mysterious to becoming a structured process that can be learned by any qualified person. This change has now opened up a new door in terms of finding the best way to recruit executives, managers, and professionals. In theory, you should always be able to fill your open positions with the best possible talents, as long as you have something attractive to offer them and an effective recruiting strategy.
The focus of this book, executive search research--also called the back- bone of executive search--is to identify and screen highly qualified candidates. Throughout time, the profession of executive research has under- gone dramatic changes. So far, three distinct phases have taken place. They Introduction are referred to as first-generation, second-generation, and third-generation research. In the early days, first-generation research depended largely on personal contacts within the headhunter's limited personal network, also referred to as "the old-boys' network." Later, second-generation research was supplemented by the use of published secondary sources and circulation lists of particular business companies and alumni. Third-generation research is now practiced in most modern search firms, and involves a systematic and creative cross-checking of a variety of sources through various directories (published and online), cold-calling, and telephoning existing contacts. Due to the dramatic changes in research and how it is being conducted, the sources of the names on the target list (list of potential candidates and sources) have to a great extent changed. As the target list contains the names to be contacted in the search, it also becomes the parameter by which the historical changes in research can be measured.
In the 1950s, during the early days of organized headhunting, all the names on the target fist came from the old-boys' network. Recent surveys show that as many as 85 percent of the names on certain target lists now evolve from original research and published information (names originating from research and not a personal network), and only 15 percent from the old- boys' network. Figure 1 shows the evolution of executive search research in the United States, the most competitive and advanced headhunting market in the world.
Figure 1 The evolution of executive search research in the United States Today's information society enables modern executive search re-searchers, consultants, and other recruiting specialists to work in a borderless world, with access to information on prospects and target companies at the click of a button. In earlier years, it was necessary to use different interfaces and access gates, but today most information databases can be reached through the Internet. This breakthrough in advanced and user- friendly technology has resulted in faster searches and a broader coverage of markets in a shorter period of time. The challenge that remains, in order to come up with the best available and interested candidates, is to take full advantage of all the opportunities that the information society offers. When we do so, we can expect the first part of the search process to require less time. At the same time, the value of the old-boys' network used for candidate identification decreases.
The new executive search process, also referred to as "fourth-generation research," is strongly technology-driven, something that will become increasingly evident within the next few years. Fourth-generation research will require more interpersonal and technical skills and a more structured way of working than in previous generations of research and, unlike earlier old-boys' headhunting, the techniques can be learned. As a client you will, by watching and learning how to conduct fourth-generation research, realize that modern executive search is not mysterious anymore, but rather a very effective way to recruit based on a proven, logical step-by-step process supported by the effective use of new information technology.
How This Book Is Structured
Part I, "Executive Search Research Methodology," consists of six chapters that explain in detail how to complete a candidate search. The various chapters cover both the basic steps and the written documentation produced. The executive search research process is divided into seven major steps. These steps are explained in detail hn the six chapters, which take the process from step one, defining the job, all the way to the final steps,placing the candidate and closing the files. The resources for actual company and candidate research (steps 2 and step 3) are found in Part III,"Online Research." For specific countries that you are working on, please refer to the company profiles in Part IV. In Part II, "The Executive Search Profession," Chapter 7 explains what to look for when you have decided to use an executive search firm. In addition, you learn what to expect during the recruitment process in terms of follow-ups, written documentation, and quality of candidates. You also get insight to your role during the course of the search and how you and the executive search firm can work together for optimal results. Chapter 8 presents three superior professionals from three of the world's leading executive search firms--Korn/Ferry International, A.T. Kearney Executive Search, and Ward Howell International--who answer the most frequently asked questions relating to their specific areas of expertise. The whole executive search process is described in detail. The four chapters that make up Part Ⅲ, "Online Research," describe a wide variety of online research resources in detail. Part Ⅲ starts with an overview of the major categories of resources, helping you to select the best tools for each information search. Then, it explains six recommended steps for online research, followed by a selection of the thirty-two most popular business research databases, with a short description of each. The book explains how the two leading commercial online services (America Online and CompuServe) can be used in research and provides an in-depth description of research on the Internet. The latter goes into detail on how to search for information in the Cyberspace jungle and contains an overview of numerous exciting and helpful new research tools that have become available for Internet research.
The country profiles in Part IV give you unique and detailed information to be used in both domestic and international searches. In addition to describing the key directories and databases in several major countries worldwide, each country profile also gives you inside information on cultural factors affecting executive search. The "Culture" section gives information about legal constraints that apply when asking questions of candidates and sources. Information is also provided regarding what countries that are similar so you can broaden your search for candidates. The country profiles also contain a geographic map, a list of major city centers and industries, and key country facts.
Finally, the appendix contains a list of technology and industry terms, Internet statistics, and access providers, and a list of codes for sorting and storing resumes (curricula vitae, or CV). The most common terms used in executive search and within this particular recruitment industry are explained in the glossary. And a listing of human resources and technology books that cover different aspects of the recruitment process can be found in the bibliography.
Part I
Executive Search Research MethodologyBeginning the Search and Defining the Job
To be a good hunter in the recruitment process, you must be both a good judge of character and a good researcher. For research is the backbone of the search process, involved in almost every step. The focus of this book is on research and the resulting written documentation.
The research techniques described in this book apply throughout the world, but sometimes must be adapted to suit the cultural differences in different countries. These differences (and how to deal with them) are explained in each country's "Culture" section in the country profiles in Chapter 13. Also, the directories you use to compile information about companies and people will, of course, be different from country to country (with exception of the global directories provided by companies such as Dun & Bradstreet, Wards, and Gayle Research, which cover almost all countries on just one CD-ROM).
At some executive search firms the recruitment consultant personally does all the research, while other firms have professional researchers who assist in the process. In some firms, researchers participate in every step of the process, while at others they just make target lists, and might not even speak to the potential candidates or sources on the telephone. In some executive search firms, there might be a hierarchy of people involved in the process--research analyst, junior researcher, senior researcher, associate, principal, consultant, and such--with each person having specific duties.
In other places there might be just one consultant who does everything. While who does what may differ from firm to firm, the steps presented here are universal, so rather than get involved in division of tasks, we focus on the process itself.
The methodology presented in this book is based on search. As the target group in search is usually higher level executives who, in most cases, are not looking for jobs, the challenge of tracking down Mr. or Ms. Right is a big one. To be successful at executive search research, you must be determined to crack each problem, using all the initiative and imagination at your disposal. If you knock on the front door and get turned away, you should not feel that you are stuck---you just have to climb through the kitchen window. To be successful you have to be persistent, very creative, quick, and extremely professional in your approaches and conduct. Also, keep in mind that research is an art and not a science. While gathering information you must speak to many people--both potential sources and candidates. You must remember to treat everyone you speak to with courtesy and decency, as you never know where you might run into your contacts again. The ultimate goal is to find a sufficient number of qualified and interested candidates, and to complete the process both quickly and professionally. Therefore, it is important that you follow certain basic steps to select the best available candidates.
The flow and logical sequence of the various activities in the executive search research process are shown in Figure 1.1. The way the flowchart works is very simple: The flow keeps going down until the search is filled (search is closed). A key rule is to keep working on finding candidates
Figure 1.1 The executive search process
Beginning the Search and Defining the Job until the final candidate has accepted and signed. If all the people on the target list have been contacted, new sources and candidates must be identified. If everyone rejects the position for the same reason--for example, too low a salary--it might be necessary to make changes by increasing the salary or lowering the requirements and thereby revising the position specification (see Figure 1.2).
Figure 1.2 The key areas in executive search research
Basic Steps
Documentation Created
1. Defining the job.
Situation Analysis. Meeting of minds between client and consultant regarding what they are looking for.
2. Identifying candidate sources.
Making a task plan regarding the time frame for the search, where to look for the right candidate, selecting industries, what companies to look into, and what individuals to speak with.
3. identifying specific candidates.
The process of identifying potential candidates is called sourcing, which is best accomplished by speaking to key people who are in the target group and asking them for "assistance."
4. Telephone interview and screening.
Interviewing potential prospects on the telephone and obtaining the information to decide
A written document, the position specification describing the full picture--company, position, and requirements. At the same time a template with only the requirements is made, which is later used for screening. An alphabetic target list with the names of companies and people you are going to source. The list should be sorted according to company, and alphabetized according to potential candidates last names. In this format, the calling list can be utilized as a "log."
During sourcing, the comments made by the people being contacted should be recorded in the log, with dates and correct "code." This means if a source, for example, becomes a candidate, the coding and group that this particular individual belongs to will change.
Use the template you made in Step 1 and compare it with the prospect's background. it is also
Continued)
Figure 1.2 (Continued)
Basic Steps
Documentation Created whether they remain on the list. If the candidates remain on the list, begin gathering more information.
5. In-person interview and screening.
Verification of facts concerning a candidate by face-to-face interview
Getting a sense of the personality.
Finding out more about the candidate through questions and your own judgment to determine whether the person fits and moves to the next level.
6. Preliminary and regular reference check.
Preliminary checking of a candidate is conducted before the client interview by discreetly speaking to a few people for an insider idea of the person. A regular reference check is conducted after the client interview. At this stage, there is extensive questioning of several people whom the candidate is working or has worked for.
7. Closing the search (closeout).
After a successful placement of the candidate, all sources and unsuccessful candidates are contacted to tie up the loose ends.
All the necessary documentation is placed in the closing file. helpful to have prospective candidates explain to you how they feel their background fits your position specifications. if it is still not clear whether the prospects are on target, then you can go through the template with them over the phone. These notes should be stapled to the resume
Those candidates who are on target should be written up in an extensive report describing persona traits, work history, and personal observations made by the interviewer. The documentation regarding the work history is called a career brief. The documentation portraying a more personal picture of the candidate is called the appraisal. This document seeks to explain where the person is coming from, why certain choices were made in life, strengths and weaknesses, and the interviewer's assessment.
The questions being asked during the regular reference check are basically the same for everyone. A the replies from the references are recorded, as stated, in a reference report.
The various people that you have closely interacted with during the search get a letter stating the appreciation for their time and/or interest in the search or position.
These acknowledgment letters are called closeout letters.
Beginning the Search and Defining the Job
Defining the Job
The first major activity in the search process is defining the job. This step sets the tone for all that follows. Preparing a job description is where all the discussions between client and consultant (if the company has decided to use outside help) about job requirements, organizational relationships, and cultural issues are crystallized. So that it does not give people the wrong picture, the job description must be accurate and well written. It is always important to gather information from all parties involved: (1) the person leaving the position; (2) the person that the new employee will report to; (3) coworkers; and (4) people reporting to the new employee. By gathering the necessary information from these four groups, you ensure that the picture of the situation is accurate.
The job description is a written document that should be extensive enough to give potential sources and candidates a clear and informative picture of the company, the position to be filled, and the requirements.
Written documentation is a tool for everyone in the process: the company with the recruitment need, the consultant and researcher (if you are using outside help), the client, sources, and potential candidates. It is very important to conduct sufficient research so that you are able to write the documentation, answer questions from sources and candidates, and conduct an extensive search in the market. Keep in mind that even though you might know all the answers to the different topics, you still have to cover everything. The first documentation, which is based on the following required information, is called situation report documentation:
The Company
▲ Historical background, development▲ Plant and office locations, affiliations, number of employees
▲ Organizational structure (organization chart)
▲ Product lines, sales volume, market share
▲ Profitability; past, current, and projected rate of growth
▲ Strengths and weaknesses of the company
▲ What is the company culture like?
▲ Why has the vacancy arisen?
▲ If a person was previously in this position, where did he or she go?
▲ What background did this person have?
▲ Why has the position not been filled internally?
▲ Is there something unusual about this position?
- What efforts have been made to fill the position and why have they failed?
The Position
▲ Title of position▲ Responsibilities, functions, duties, and accountabilities
▲ Objectives and time frames in which to achieve them
▲ Organization charts of whole company and relevant department or division (showing functional as well as hierarchical relationships)
▲ The challenge and attractions of the job (including compensation package)
▲ What company policies and practices will affect the jobholder?
▲ What are the personalities of the people with whom the jobholder will be in contact?
▲ What are the future opportunities for the person appointed, and over what time scale?
▲ Supervisor and subordinates and their qualifications and experience
▲ Geographic restraints
The 1deal Candidate (Identify the ideal candidate's qualities on two levels: essential and desirable)
▲ Education and paper qualifications
▲ Experience
▲ Language requirements
▲ Personal qualities
▲ Skills required
- What type of company culture would you expect the person to come from (or not to come from)?
Target Companies and Positions: Where Might This Person Be Found?
▲ Names and divisions of companies
▲ Geographic locations
▲ Sales volume
▲ Standard Industrial Classification (SIC) and function codes
▲ Number of employees
▲ Possible title(s)
▲ Possible level(s)
Beginning the Search and Defining the Job
Important: Until everything is completely clear, continue to go back to the involved parties to get your questions answered. Make sure that every requested piece of information on the foregoing list is covered.
By now, your understanding of the situation should be good enough for you to write the position specification/candidate profile (see Figure 1.3).
Figure 1.3 Position specification and candidate profile
DIRECTOR, MANAGEMENT INFORMATION SYSTEMS
THE COMPANY
Our client is one of the leading manufacturers of belt buckles in the world and is a publicly held company (NYSE). The company sells its premium products exclusively through its own network of stores. With more than a century-long history of making belt buckles, the company has successfully built a strong reputation in the market- place for being the highest caliber manufacturer of its type.
The company is headquartered in Chicago and owns a total of thirty stores throughout the United States and abroad, all situated in metropolitan cities, with a total of 3,000 employees. The buckles are manufactured at the company's own production and distribution site in Florida. The company also has a mail-order facility based in Chicago. Currently annual sales are reported at one billion dollars (1995), with a high growth rate. The U.S. stores are responsible for 20 percent of the company's sales, while mail order consist of 10 percent, and international of 70 percent.
The company has a 70 percent market share.
Our client's biggest challenge is to remain the market leader by being innovative and delivering the highest possible quality, with minimal expenses, and the highest degree of service to its customers.
THE POSITION
LOCATION
Chicago, Illinois
THE POSITION
The Director of MIS will be in charge of managing a team providing the company with strategies, development, and implementation of information systems that are cost-effective, efficient, with current and emerging technologies to support decision- making requirements, goals, and plans. A major focus will be to improve and maximize the use of a newly installed system, which links Inventory, Finance, Sales, and Manufacturing.
The Director of-MIS will have a staff of five and report to the Vice President,
Finance and Administration.
RESPONSIBILITIES
▲ Develop and manage the implementation of the company's high-tech information systems.
▲ Determine and recommend for approval information systems policies, standards, practices, and security measures that ensure effective and consistent information processing and the safeguarding of the information resources,
▲ Research and direct the continual upgrading of the information system staff, equipment, and procedures to maintain pace with technological progress, economic change, and business needs.
▲ in an emerging outsourcing environment, manage the relationship with the out- sourcing partners.
- Create special assignments and projects based on needs of teams from multi iocations.
EXPERIENCE AND BACKGROUND REQUIRED
▲ A minimum of ten years business experience with a broad understanding of allbusiness functional areas and their relationships to information systems.
▲ A proven track record of systems project management experience with a blend of technical and business skills.
▲ Knowledge of structured analysis and design to conduct system reviews. Such are view would consider the accuracy and completeness of deliverables in each development phase.
▲ Knowledge of data communication capabilities in order to understand line types, protocols, and equipment used so those characteristics could be considered in system design.
▲ Must have experience in successfully implementing a computer system in a multi-site environment that centralized the functions of inventory and finance.
EDUCATION
An undergraduate degree is required, preferably in one of the computer or information technology sciences. An MBA is very desirable, although not required.
COMPENSATION
A highly competitive base compensation plus 50 percent bonus opportunity in addition to client's executive level stock option and benefits programs.
PROCEDURE FOR CANDIDACY: Send resumes or nominations as soon as possible
to:
Peter Smith
ABC Headhunting, Inc.
270 N. Canon Drive, Suite 1166
Beverly Hills, CA 90210
Ph.: 310-999-2222
Fax: 310-999-5199
Beginning the Search and Defining the Job
This written documentation, which you will share with potential sources and candidates, should not cover all the information that you put into the situation report documentation. Sometimes you do not want to use the company name in the written documentation that you mail out. It is difficult to conduct this mail-out yourself with full discretion if you are not using an executive search firm. Also keep in mind when creating the document that readers want something that is short and to the point, yet contains enough information to interest them (or screen them out if they do not have the right background). As a rule you should never send out written documentation that contains confidential information. To prevent mistakes and at the same time ensure that you are on the right track, the documentation must always be approved by the new employee's superior before it can be sent out to any potential sources or candidates.
Frequently a search changes direction. Be prepared to change the course if necessary. Keep in mind that anything can change during a search: new reporting relationships, a new compensation scheme, or a new set of performance objectives for the position. You therefore have to be flexible so you can resolve new recruitment issues.
From the situation report you need to make a template for the search, which helps you to screen people (see Figure 1.4). With this simplified form, all you need to do when speaking to people you want to screen is to go down the items and write yeses and nos. Getting all yeses meansyou are on target.
Executive Search Research Methodology
Ten Years Business information Systems
Experience
Systems Experience
UNIX Based
Wang Equipment
Cobol Generation Tools
Novell Networks Tools
LAN
WAN
Gateway Experience
EDI Experience
MFG/PRO Experience
Installation/implementation
Project/Team Management Experience
Change Experience
Outsourcing Management Experience
Industry Experience
Types of Companies
Education
Compensation
Identifying the Candidate
Sources
It is important to prepare a formal task plan to guide yourself through the search for Mr. or Ms. Right. This plan serves as a road map in developing the proper approach to conducting research suitable to the particular assignment. The task plan need not be voluminous or complicated. Its purpose is to define the various activities and sources of information to be used in completing the research.
Most task plans consist of at least four major elements:
1. Selecting likely industries
2. Identifying target companies
3. Sourcing for specific individuals
4. Time schedule
Selecting Likely Industries
The first step is to select likely industries. You should look first at competitors of the company for which you are recruiting. But keep in mind that other related industries or, in some cases, totally unrelated industries can also be likely sources for the talent(s) that you are seeking. These should be discussed with all parties involved in the search. A wide selection of target industries will broaden the pool of potential candidates. But focusing on more than just one industry can be very time-consuming. To best under-stand where to look for candidates, it is helpful to think of circles representing places to look. This idea, called the logic of concentric circles, is represented in Figure 2.1. As the main goal is generally to find the best possible candidates in the shortest period of time, when selecting likely industries, it is best to concentrate on the center of the logic of concentric circles where direct competitors are located, then similar or parallel industries. Finally,States, directories exist that list all of the associations in the country, while in smaller countries such as Norway or Sweden, you must look in the yellow pages of the telephone book.
After the target industries have been selected, you must identify specific companies where potential candidates can be found. It is important to understand how the company size affects the search and at what level your target person is located. If the company with the recruitment need is looking at a target company of the same size, the target person in this company should be located one level down. On the other hand, if your target company is smaller than the company for which you are recruiting, you can focus on the same-level position. When the company for which, you are recruiting is extremely popular to work for, such as Harley David- son, these rules do not necessarily apply. Normally the thinking is that you approach people to whom you can offer something better. In other words, put yourself in the shoes of the candidates. Why change jobs? What is the catch? Keep in mind that the various companies might be using different titles for the same position. If you are dealing with just a few companies, be careful not to contact too many people in the same company without some pre-research.
If possible, all target industries should be identified with the Standard Industrial Classification (SIC) code. For a complete breakdown and explanation of each SIC-code group, consult the Standard Industrial Classifications Manual, published by National Technical Information Service (NTIS). It is also important to keep in mind that certain industries or segments are so specialized that you will not be able to find the exact SIC code. In that case, you have to go for the parent group and then do a manual sorting.(Note: At this writing, the SIC codes are being replaced with NAICS North American Industry Classification System codes. Manuals for both SIC and NAICS codes can be obtained through the NTIS Web site at www.ntis.gov / sic and www.ntis.gov/naics , respectively.) As a rule, the more selective you are in your search, the more selective (specific) your results will be.
In order to be specific, you should, if possible, know:
▲ SIC code (industry code; found by looking up the company forwhich you are recruiting)
▲ Size of the company (range)
▲ Geography (location of target company)
important: When looking for target companies, use more than just one directory or source. Keep in mind that one directory might be missing important information that you can find in another directory.
Identifying the Candidate Sources
All countries have published directories with key information on the major companies in the respective country (there is an extensive listing with description in each country profile in Chapter 13). The information providers in each country sometimes offer a variety of media where you can access their company information. The most common media are:▲ CD-ROM
▲ Books
▲ Internet
In addition, sometimes the providers offer manual consulting services, meaning that for a certain cost they can do the search job for you (finding companies).
Time Schedule
The fourth element is the time schedule. Every step of the process must be completed as quickly as possible. But, it is still important to set goals as to when you should complete each step. The faster you get going, the better you feel. A fast start-up is the goal. It is important to concentrate on compiling the target list before you start the calling, as this will save you time. Then, if you plan to undertake a mailing, it should be done immediately. If you plan to ease up, it should not be until after the mailing.
Figure 2.2 Time schedule
┏━━━━━━━━━┳━━━━━━━━┳━━━━━━━┳━━━━━━━┳━━━━━━━┓
┃ Search ┃ ┃ ┃ Candidate ┃interviews ┃
┃Definition ┃Target List ┃Sourcing ┃Development ┃and Closing ┃
┃ (2 days) ┃ (2 days) ┃(10 days) ┃ (6 days) ┃ (ongoing) ┃
┣━━━━━━━━━╋━━━━━━━━╋━━━━━━━╋━━━━━━━╋━━━━━━━┫
┃Activities: ┃Activities: ┃Activities: ┃Activities: ┃Activities: ┃
┃Interview key ┃Create list of ┃Contact ┃Follow-up ┃Interviews by ┃
┃ people at ┃ all the ┃ everyone on ┃ and ┃ consultant ┃
┃ the client ┃ companies ┃ target list. ┃ development ┃ and client, ┃
┃ company to ┃ and people ┃ Leave a ┃ of prospects ┃ then closing ┃
┃ get an ┃ you are ┃ maximum of ┃ (including ┃ of search ┃
┃ accurate ┃ going to ┃ two ┃ rejections) ┃ when ┃
┃ picture of ┃ source. ┃ messages. ┃ ┃ candidate ┃
┃ what to look ┃ (1/2day of ┃ ┃ ┃ accepts. ┃
┃ for. ┃ ┃ ┃ ┃ ┃
┃ ┃ directory ┃ ┃ ┃ ┃
┃ ┃ search, 1 1/2 ┃ ┃ ┃ ┃
┃ ┃ days of ID ┃ ┃ ┃ ┃
┃ ┃ work) ┃ ┃ ┃ ┃
┗━━━━━━━━━┻━━━━━━━━┻━━━━━━━┻━━━━━━━┻━━━━━━━┛
The average time frame for each step in the search process is shown in Figure 2.2.
Note: In every search it is important to work backward from the completion date. This means that if you are using an external executive search consultant and he or she has promised that you will be presented with a candidate four weeks after the start of the search, the executive search consultant should meet that person at the latest three days before that date. This in turn means that the individual must have been identified and fully developed seven days earlier (telephone interview before the face- to-face interview). in order to meet this goal you must have approached all the people on the target list at least once in less than two weeks from the start of the search. Only in the first parts of the search do you have full control over time and process. it is harder to control the activity that goes on after the prospect has been interviewed face-to-face, because this is when the major decisions for both parties have to be made. it is always difficult to predict how much time people need to think things over, and how many people you need to see before you make a decision. Also, the negotiations between your company and the candidate regarding terms
can sometimes be lengthy.
Identifying Specific Candidates
The executive search method requires you to find a small group of out- standing individuals who have interest in pursuing the opportunity that you are presenting to them. It is important that the search is comprehensive. You must utilize various sources of information, including all avail- able published directories relevant to the search, as well as industry contacts. You should also conduct extensive original research.The first place you should start looking is in your file of previous searches. These sources may identify as many as several hundred potential candidates. But, only a small number of these people will be interviewed in person. The goal when making calls is to find quality; the bottom-line goal is to come up with the best possible candidates. How many you call or interview is less important than who you come up with. It is therefore of great importance to make quality calls. Your goal should be to come up with no more than five qualified and interested candidates at the final round. However, in order to get these numbers, you have to interact with many people.
Documentary sources are the starting point in this process. If you use an executive search firm, it should have its own extensive libraries of directories, trade journals, and publications in order to target companies and potential sources and prospects. Be aware that almost all of this information can also be found at a modern library. The higher the level of the search, the more likely you are to find a good amount of published material (directories) that will be of great help. The rule when using published material is that people high up on the corporate ladder are the easiest to identify.
Often you will find that no published material exists about your prospect--you will not even find the person's name in the listings. The best (and only reliable) way to get what you want is by picking up the phone.
This process of identifying candidates is called ID work (identification work).
ID work can be time-consuming, and thus demands persistence and a high level of creativity. A good starting point is company directories. In most cases you succeed in finding the companies through these directories.
The information that you often lack is the name or even the correct title of the person you are seeking. How long the name search will take depends very much on whom you are seeking and what codes or rules the receptionist or secretary has to follow. If you are seeking the director of manufacturing or director of human resources (HR), it will be a straight shoot. But if you try to map out a sales department, it will be trickier. To avoid wasting time, always try for the easy names first. This means you should start out with the line, "Who is the director of HR?" Do not represent yourself; just ask the question. If you are asked why you want the information, just say that you do not know yourself, as you are just an employee who has been told to do a job. This plain, straightforward approach should get you as many as 80 percent of the missing names on your list. If you focus you should be able to get the appropriate names and titles of as many as sixty to eighty people a day. For the remaining 20 percent, just try a day later with a new tack such as, you are sending a letter from your boss who is traveling and you can not remember the name and title of the person to whom you are to send the letter. On this second round, you should be able to obtain most of the remaining names. If you still have not gotten everybody, on day three you can try something like: You are calling from a consulting company and you are putting together a list of speakers for a particular symposium, and you have been told that a particular person at company X is a terrific guy, but you are not sure of his name and title.
By now you should have gotten all the names.
Sourcing
Sourcing is the process of locating names of possible candidates by referral from others (or themselves, when contacted). You generally have to contact many people to obtain names. Some of these may be found unsuitable quickly because they do not meet the job description requirements.Sourced names that seem to be suitable are added to a list of potential candidates for further investigation.
The first people to telephone in your source search are those who know about relevant industries and companies, such as association executives, academics who have specific knowledge about industries and key companies, accountants, attorneys, investment bankers, journalists, and
Identifying Specific Candidates business acquaintances. Or they may be people brought to your attention by third parties.
Sourcing calls are made primarily to obtain names of individuals who appear to meet the qualifications for the job that you are seeking to fill.
Sometimes you call an executive you have reason to believe may be a potential candidate. Other times, the sourcing call's purpose is to obtain the names of as many potential candidates as possible. It is also a good idea to try to get additional source names from individuals called.
After making a sufficient number of sourcing calls, you should have obtained the names of potential candidates (who will be further investigated), as well as additional sources. Names of five or more potential candidates might be obtained with a single source call, along with the names of one or two additional sources. After a number of calls have been made, you should have a network of names.
Sourcing calls make up a good deal of the workload in the search assignment. It is important to note clearly on the call list which potential sources have been contacted, so that future work when needed, can proceed based on leads not followed up the first time. It is up to your own professional judgment when enough sourcing calls have been made.
Sourcing in Small Versus Big Markets
For maximum efficiency, small markets and large markets call for different methods. One reason for this is that you usually have many more target companies to hit in a large market. tn a small market, often with just a handful of target companies, you cannot afford to do many wrong source calls in a company, or stir things up. You have to hit your target right away if possible. Wrong calls can make the word go around, and your target can easily lose interest because he or she does not feel special. Sourcing techniques must be adjusted according to the marketplace, the existing culture, and the situation at the time. Likewise, the most efficient way to conduct research in larger markets such as the United States, Germany, and the United Kingdom is the straightforward approach explained in this book, where you concentrate first on finding candidates who are qualified, and you do not conduct reference checking until much later. This method often includes extensive use of mailing before calling.
In smaller markets such as Ireland, Norway, and Sweden, a helpful way to source is by careful reference checking, as you not only want names, but also would like to know beforehand who the best candidates are. In this method, it is helpful to speak to someone who just left your target company, and who happened to work in the department you were targeting for prospects or potential candidates. The goal should be to find some-one (source) who is one level above your potential target's, if this source is helpful, he or she can provide you with quality names. This method of tracking down candidates is generally too time-consuming to use in larger markets.
Both approaches are being mixed in small and big markets, although there is a tendency to lean toward a certain way to conduct the search in the specific market as explained.
Finding Sources Who Left the Company
Talking to people who recently left the target company can help you tell the rising stars from the falling ones early in the search process. Keep in mind that it is important who your source is: A statement from a boss who recently left the company usually has a lot more validity than one from a secretary. There are two basic methods you can use to find your source:1. Cross-check directories. Look at the executives listed in a current directory, and compare them with those listed in an earlier edition of the same directory. Names that were previously listed but are not in the newest edition are good potential sources. Next, phone the company and ask for the missing people. Pretend that you think they are still there. Tell the switchboard operator or the person in the department that you are speaking to that you used to be friends with the person, but you lost touch over the years. Keep in mind that if you get the HR department on the line the game is over, because they generally will not give out a forwarding number.
2. Connect with someone in the department that you are targeting. Tell the person at your target company that you are looking for someone that you met a while back who had told you he used to work with the target company until recently, but had recently started elsewhere. If he or she asks you why you want to know, say that it is very personal and out of respect for the person in question you do not wish to disclose any further information on the matter.
You are not 100 percent sure about the name, but you think that it may be Jim or Peter. In most cases the person will try to help you out by giving you different names of people who have left if you just keep probing. This method should only be used if nothing else works.
You should always use your real name and the company that you are calling from, if you are asked. Never pretend that you are someone else, as you can get involved in legal complications. Be persistent, polite, quick, and positive.
Mailings and Source Letters
Mailing the position specification to potential sources and candidates is a practice that both private companies and several executive search firms stick to religiously, while others ban it. Even some of the most prestigious executive search firms with top-notch positions do mail-outs. To obtain the best possible results, certain basic rules should be followed:1. Protect the confidentialit