search-consult Issue 38 by margaret jaouadi

2010 / ISSUE 38

The International Executive Search Magazine Published by Dillistone Systems

The 2010 Executive Search Consulting Conference September 15, 2010 - Chicago Full details and EARLY BIRD offer inside!

Executive Search: The Current Cleantech Climate ExecuNet Report: State Of The Executive Search Industry How To Make A Successful Hire Market Perspective: Eastern Europe Recruiting In The Energy Sector

FREE BREAKFAST BRIEFINGS

LEARN HOW RETAINED EXECUTIVE SEARCH FIRMS ARE LEVERAGING THE INTERNET TO IDENTIFY AND RESEARCH COMPANIES, SOURCES AND POTENTIAL CANDIDATES Successful events have already taken place in Chicago (USA), London (UK) and Hong Kong (SAR). Feedback from past delegates can be read at www.dillistone.com/events “Some of the techniques you shared were truly great. Can’t wait to try them out on the projects that have recently been giving me considerable headache. Thanks!” Ruzanna Tantushyan / Cook Associates (Chicago)

“Very good introduction and well presented. The event was very useful and showed me functions that I never knew was possible for internet search.” Peter Lee / Kinsey Allen International (Hong Kong)

During these free briefings you will learn techniques you can use immediately to: Search press releases and news aggregators to identify and research senior executives Search corporate websites and business information sites for information on target companies Use Google to find more candidates in social networks Track new appointments and resignations at your key clients All of these techniques will be taught in a way which will enable you to use them immediately – for free!

“Terrific, interesting, and delivered with excellent pace, timing and humour. We learned some refined new ways of researching which I will be trying out immediately. Left wondering what other “secrets” there might be if there had been more time. Thank you.” Kerene Begg / Banister International (Hong Kong)

“One of the most to-the-point, effective, knowledge-rich presentations I have ever taken place in. Absolutely relevant content, excellent organization. 5 out of 5. Well done!” Sandor Fuleki / SpenglerFox (London)

Book now to join us at our events in: NEW YORK, NY - June 8 AMSTERDAM - June 9 TORONTO - June 15 ZURICH - June 23 SAN FRANCISCO, CA - July 1

In-house session? Contact us!

“Arguably some of the most useful information I’ve seen helping recruiters and researchers get to most valuable information. Thank you thank you for helping us all do better.” John Dugan / J.H. Dugan & Company (Chicago)

SINGAPORE - August 26 CHICAGO, IL - September 14 DALLAS, TX - October 5 HOUSTON, TX - October 6 ATLANTA, GA - October 7 LONDON - November 11 Additional dates to be announced

Email events@dillistone.com or visit www.dillistone.com/events to book your place TODAY! USA: +1 (201) 653-0013 • Australia/Asia: +61 2 8221 8860 UK / Other Europe: +44 (0)20 7749 6100 • Germany: +49 (0)69 27 40 15 807 sales@dillistone.com • www.dillistone.com

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Joseph Daniel McCool is the author of Deciding Who Leads, named “one of the best business books of 2008,” and principal of The McCool Group LLC, which partners with corporate Human Resources and Talent Acquisition leaders on the most effective global sourcing, assessment, selection, engagement and performance score-carding of executive and board search consultants and related management succession issues. Reach him at Joe@TheMcCoolGroup.com.

MANAGING DIRECTOR Jason Starr jason@search-consult.com EDITORIAL Pilar Gumucio editorial@search-consult.com PRODUCTION Margaret Jaouadi margaret@search-consult.com

ADVERTISING/SUBSCRIPTIONS/REPRINTS UK and Europe North and South America South East Asia and Australia Yann Le Leyour enquiries@search-consult.com or log on to www.search-consult.com

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search-consult is published quarterly by Dillistone Systems Limited, Third Floor, 50-52 Paul Street, London EC2A 4LB and designed by Mr. Bloom Ltd, Sopot, Poland, www.mrbloom.com.pl. Periodical Postage PAID at Jamaica, NY. POSTMASTER: Send change of address changes to Dillistone Systems Inc., 50 Harrison Street, Suite 201A, Hoboken, NJ 07030. All statements, opinions, and expressions are the sole responsibility of the authors and the Publishers reserve the right to amend/alter articles as necessary. The Publishers cannot be held responsible for any loss or damage, however caused, of any materials supplied. Any materials supplied may not always be returned. No part of this publication may be reproduced in any format without prior written consent of the Publishers.

Decision Time

Now is likely a critical tipping point for your executive search practice. That’s because two things will predetermine your recruiting success in the ‘new normal’ global business environment shaped by uncertainty, risk management and what is becoming continual value assessment. The first is the extent to which corporations understand and value retained executive search consulting and how they choose to identify, assess, engage and measure their external search partners. This, at a time when they’re seeking cost savings, expanding their own talent acquisition teams, using technology and social networking sites as a surrogate for retained search, developing more leaders internally and believing the deep pool of unemployed executives will render the top talent they need to grow. The second is how you position your search practice as a solution to new and emerging corporate strategy and challenges, and how you differentiate your practice in what remains a very competitive although somewhat leaner market of executive search consultants. If you’re inclined to focus on the opportunity over which you have the most control, you’ll concentrate on this second issue. You alone will decide, from this point forth, how, what and when clients and prospective clients will think of your services, based on your ability to add value to a wide range of business discussions and decisions that might extend far beyond the execution of your next search assignment for that organization. Waiting for the tide to raise the level of every boat in the harbor (in effect, a return to business as usual) is indeed one option. But I, for one, would suggest this could be hazardous to the long-term strength and value of client relationships. Today, it’s imperative to understand exactly how your clients and prospects are emerging from the global economic recession. Much like your search practice, they are now awakening – at least from an executive hiring perspective – a different organization than you may have known before the trials of the past two years. What’s new about their business strategy moving forward? How does that change their leadership needs? How has their culture changed? What pressures are their search decision-makers facing? And what can you do to stand out – in their eyes? These are the questions that you must overlay on each client relationship and new business development campaign. They should reveal a new set of corporate priorities, practices and performance measures. And this, in turn, begs the question of exactly how your view of the talent market has changed, what you’re doing to build and connect with a dynamic and increasingly opportunity-seeking talent pool and what you’re doing to reduce risk and add value to each of your engagements. So, what exactly are you doing that’s new, and perhaps innovative, to achieve those new corporate objectives? I’m not preaching. I’m actually taking the same medicine. My consulting practice, The McCool Group LLC, is now focused on “Driving Better Decisions About Executive Recruiting and Board Succession.” I’m tackling the first challenge I reference above, that is, by advising corporations globally about how to most effectively identify, assess, engage and partner with executive and board search consultants worldwide. Let’s together help companies get the very best from the process that delivers their most visible, their most costly, and their most consequential new leaders!

Joseph Daniel McCool Joe@TheMcCoolGroup.com

Joseph Daniel McCool is one of the speakers at The 2010 Executive Search Consulting conference taking place on September 15 in Rosemont, Chicago, IL. See pages 4-5 for details.

ISSUE 38 2010 search-consult

As the global economy continues its shift from recession to recovery, and now to business growth, Executive Search consultants are optimistic about the demand for executive talent and companies are recruiting to pursue new market opportunities and upgrade their management bench. Exceptional executives, too, are increasingly exploring new career options, but with a heightened sense of caution and fundamentally re-set compensation expectations. If anything is clear about the future of the Executive Search consulting business, it’s that the business needs to evolve and deliver more consistent results as client needs and expectations elevate, along with new applications of technology, business networking and marketing resources. Join a gathering of peers from retained Executive Search consulting firms, executive talent acquisition leaders from corporations, and noted authors and consultants on new business development, client-centric selling and reputation building to gain new insights and actionable advice on how to position your practice for the road ahead. This event is co-located with The Onrec Global Recruiting Expo. Attendees will enjoy complimentary access to the Onrec Tradeshow floor and will have the opportunity to network with over 500 Corporate Recruiting professionals who are expected to attend that event. AGENDA: 8:30am - 9:30am

REGISTRATION / CONTINENTAL BREAKFAST / EXPOSITION

9:30am - 9:40am

WELCOME - OPENING REMARKS: “BUILDING ON WHAT WE KNOW” Jason Starr, Editor, search-consult and President, Dillistone Group Plc.

9:40am - 10:40am KEYNOTE ADDRESS: “THE TRAIN SWERVED AND HIT ME - THINGS TO CONSIDER WHEN YOUR SEARCH PRACTICE IS SITTING ON THE TRACKS” Truman E. “Rick” Cobb, Executive Vice President, Challenger, Gray & Christmas, Inc. 10:40am - 11:30am “MAXIMIZING YOUR UNIQUE BUSINESS OPPORTUNITY IN A VOLATILE ECONOMY” Mark Anderson, President and Chief Economist, ExecuNet 10:30am - 12:00pm COFFEE BREAK / EXPOSITION 12:00pm - 1:00pm “HOW TO ATTRACT NEW CLIENTS, KEEP THE ONES YOU REALLY WANT—AND MAINTAIN YOUR SANITY” Michael W. McLaughlin, Principal - MindShare Consulting LLC, Author - Winning The Professional Services Sale 1:00pm - 2:15pm

LUNCH / EXPOSITION

2:15pm - 3:30pm

SEARCH FIRM PANEL DISCUSSION: “WHAT SEARCH FIRMS MUST DO NOW TO GROW AND SUSTAIN MARKET SHARE” Panelists: - Robert M. Callan Jr., Partner, Callan Associates, Ltd. - Donna Gaines, President & CEO, Gaines International - Mary Kier, Vice Chairman, Cook Associates, Inc. - John Poracky, VP, AIMS International and Partner, M. Wood Company

3:30pm - 4:15pm

“RAIN MAKING TRENDS FOR THE NEW DECADE” Gary Pines, Principal, Harding & Company

4:15pm - 5:30pm

CORPORATE PANEL DISCUSSION: “HOW EXECUTIVE SEARCH CONSULTANTS CAN WIN MORE ASSIGNMENTS & REDEFINE CORPORATE RELATIONSHIPS” Moderated by Joseph Daniel McCool, Principal, The McCool Group LLC and Author, Deciding Who Leads Panelists: - Bob Boles, Senior Vice President, Human Resources, PPM America Inc. - Kay McCabe, Executive-in-Charge, Recruitment, Crowe Horwath LLP - Melissa McMahon, Senior Director, Talent Acquisition, CDW - J. James O’Malley, Managing Director, Huron Consulting Group

5:30pm - 7:00pm

CLOSING REMARKS / COCKTAIL RECEPTION / EXPOSITION

Agenda and speakers are subject to change

www.search-consult.com/Chicago

Mark Anderson President and Chief Economist ExecuNeta

Kay McCabe Executive-in-Charge, Recruitment Crowe Horwath LLP

Robert Boles Senior Vice President, Human Resources PPM America Inc.

Joseph Daniel McCool Principal, The McCool Group LLC Author Deciding Who Leads

Robert M. Callan Jr. Partner Callan Associates Ltd

Michael W. McLaughlin Principal MindShare Consulting LLC

Truman E. “Rick” Cobb Executive Vice President Challenger, Gray & Christmas, Inc.a

Melissa McMahon Senior Director, Talent Acquisition CDW

Donna Gaines President & CEO Gaines International

J. James O’Malley Managing Director Huron Consulting Group

Mary Kier Vice Chairman Cook Associates, Inc.

Gary Pines Principal Harding & Company

John W. Poracky Vice President AIMS International Senior Partner M. Wood Company

OPTIONAL EVENTS: September 14, 2010 - 4pm-5:30pm - FREE TO ATTEND Join this event on “INTERNET RESEARCH TECHNIQUES FOR RETAINED EXECUTIVE SEARCH” LinkedIn to network During this free briefing attendees will learn techniques they can use immediately to: with delegates and • Search press releases and news aggregators to identify and research senior executives, speakers. • Search corporate websites and business information sites for information on target companies, • Use Google to find more candidates in social networks, and • Track new appointments and resignations at your key clients Successful briefings already took place in major cities around the world. To read testimonials from past attendees visit: www.dillistone.com/events September 16, 2010 - 8:30am - Noon - EARLY BIRD OFFER US$295 / UK£195 / €225 (valid until July 16) “THE CRITICAL MEASURES OF PARTNERSHIP BETWEEN HIRING ORGANIZATIONS AND THEIR BEST EXECUTIVE SEARCH PARTNERS” Join Joseph Daniel McCool, the former editor of Executive Recruiter News, for a look at what’s important to his corporate clients and how companies are working more effectively to get consistently better results from their investments in executive management talent. Key Audience Takeaways: • Gain a fresh perspective on how the recession and now, the economic recovery, is changing the search for world-class executive talent • Learn what companies want now from their external search partners, and what they want more of when it comes to raising their recruiting outcomes • Take away practical advice for how to effectively differentiate and put client results at the core of your search practice • Challenge the presenter’s outlook on the executive search business, and reassess your own as well as the decisions and opportunities that lay ahead • Receive your own signed copy of “Deciding Who Leads”

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MEDIA SPONSOR

For a detailed agenda and to book please visit www.search-consult.com/chicago search-consult Events +1 (201) 653-0013 or +44 (0)20 7749 6102 or via email: events@search-consult.com COST: Early Bird Rate US$500 / UK£325 / €375 (Full price US$695 / UK£455 / €525) per delegate (available until July 16, 2010) www.search-consult.com/Chicago

Discou nted flig availab hts le AMERIC with A AIRLIN N E

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Executive Search:

TheCurrent

Cleantech

Climate By Andrew Kris and Els De Cremer

ontrary to popular belief, Clean Technology – or Cleantech – is not a new phenomenon. Thanks in large part to regulatory pressures and political hype, it has simply transformed from being a collection of disparate measures within individual corporate programs into a “mainstream” sector in its own right. In fact, the very word “Cleantech” has only been part of the finance and business community’s vocabulary for the last 10 years, though the practices of, for example, recycling, waste reduction, energy efficiency and emissions cutting have been present in manufacturing communities for much longer. Take incineration. Thirty years ago, no one would have considered incineration to be a clean technology, and yet incineration is one of the cleanest ways to recycle and return generated energy back to oil equivalents. Let’s also look at Cleantech investment. Formerly no one ever spoke of “Green Investments” or “Socially Responsible Investments”, and yet investments in clean technologies were most definitely being made – sometimes as part of corporate R&D programs, and other times as part of governance and quality management initiatives. Longestablished companies in the chemical industry, for instance, have been driving clean technology for decades.

search-consult ISSUE 38 2010

So now that Cleantech has carved its own identity and is widely talked about thanks to social, political, and commercial pressures, several trends are emerging that have a direct impact on the kinds of executive talent being sought to fill Cleantech positions. MEETING NEW ENERGY NEEDS As a 2009 Clean Edge trend report indicates, high energy costs are making products such as insulation, geothermal heat pumps, low-wattage lighting, etc, attractive options for meeting new energy needs. As a result, energy efficiency companies are seeing a healthy ROI and are in full growth mode. Secondly, the utilities industry is facing a potential labor shortage as they struggle to attract a younger workforce. Furthermore, that industry is under tremendous commercial pressure to adapt business models in order to embrace ‘alternative’ energy sources such as wind, solar, geothermal…. Thirdly, governments across the globe are investing in Cleantech-related education programs, which are designed to produce a new generation of candidates degreed in subjects ranging from renewable energy and green chemicals to agrosciences and wind turbine manufacturing. Cleantech manufacturing activities are also moving nearer to end-use markets thanks to financial incentives, carbon

constraints and efforts to reduce transport costs. The wind and marine energy industries are prime examples. Many of these companies are closing up shop and laying people off in one region, only to create jobs in other locations where the market growth potential is more promising. Lastly, the Smart Grid industry (delivering electricity from suppliers to consumers using two-way digital technology to save energy and reduce costs) is seeing an influx of IT executives who are abandoning traditional tech posts for leadership roles at emerging Smart Grid start-ups. An example of such a move (cited in the Clean Edge report) is Judy Lin’s step from Cisco Systems, where she was senior vice president of the company’s Ethernet switching technology group, to Silver Spring where she is now chief product officer. With traditional industries increasingly implementing clean technologies, companies aggressively expanding corporate sustainability programs and governments creating incentives for adopting these new technologies, there is, of course, a battle to nab the most talented executives who’ll guide companies – large and small, old and new – operating in Cleantech. Just as for most other sectors, there is a high demand and short supply of

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industry in its own right working closely with the large corporations that build the turbines.

Andrew Kris

Els De Cremer

experienced senior executives with successful track records in growth companies. While it may be tempting to turn to the legions of academics, scientists and researchers who are versed in the study of clean technologies, they’re not necessarily the people best equipped to handle their commercialization.

executives, senior scientists and heads of engineering used to working in a corporate environment and who will thrive within, for example, an entrepreneurial start-up. They bring a potent combination of scientific and corporate/commercial expertise. It’s the responsibility of an executive search firm to find and attract candidates with the right combination of skills, background and personal qualities to succeed. The executive suites in Cleantech companies demand exceptional leaders who are able to forge new markets and inspire innovation. As in other sectors, the leadership of a Cleantech start-up needs to have the skills and experience to steer the company from concept development through to manufacturing and on to marketing and servicing. Executives leading start-ups will also need to have the savoir-fair to be able to eventually work with larger, “traditional” corporations, if not as suppliers then potentially as partners or even as acquirers. To balance, they must also possess a high degree of entrepreneurial flair and the creativity to carve out unique niches within the sector. If, for example, you look at the companies that make blades for wind turbines, that niche business has become a substantial

THE ROLE OF A SEARCH FIRM Our executive search firm has sector expertise in Cleantech; we use a broader term, Environmental Technologies, which goes beyond Cleantech to encompass a range of technologies that are rapidly becoming integrated into the everyday operations of many of our industrial clients. When engaged by a client, we often look within “traditional” related sectors that have been active historically in researching and implementing clean technologies in order to improve their own manufacturing capabilities. The moniker Cleantech may be new, but its activities have been embedded in sectors such as Life Sciences, Process and Converting Industries and even Food Processing for years. That’s why at Borderless we’ve chosen to specialize in these sectors. We recognize that they have overlapping skills, requirements, challenges and opportunities. We’re, therefore, looking for

LOOKING TO THE FUTURE Today Cleantech has a ‘soft’ image and there’s plenty of goodwill going around. In reality, however, these are tough businesses with talent, regulatory, manufacturing and market challenges not unlike those experienced in other longstanding sectors. This is why many of these new businesses rely on the well-established executive search firms like ours. Cleantech has not suddenly appeared. It’s just enjoying a higher profile under a brighter spotlight. As always, the talent is out there. But it’s important to know where to look and, crucially, to know who you’re looking for. Andrew Kris is a Co-Director of Borderless Executive Search. His earlier experience includes senior executive positions on the Management Boards of one of the world’s largest industrial companies. Andrew led international units in life sciences, chemicals, plastics and construction products. He has lived and worked in the UK, France, South Africa, Switzerland and Benelux. He is the co-author of Shared Services „Shared Insights, Shared Services: mining for corporate gold and Shared Services and BPO: an executive briefing.” He is an advisor on business transformation to Executive Boards of global corporations. Els De Cremer, Co-Director of Borderless Executive Search, focusing on international search assignments in the chemical and life sciences sectors. She has concluded a series of seniorlevel assignments in pharma, medical devices, food ingredients and packaging sectors. Before joining Borderless, Els worked for 12 years in management roles in the chemical industry. As a Human Resources Manager she covered roles in the Netherlands and Belgium, before moving to Switzerland, where she focuses on employee and organizational development. Els subsequently became the leader of one of the company’s largest chemical businesses in Europe. Els holds a Master in Psychology and a Master in Business Administration. Borderless Executive Search searches globally for executive talent for Process & Concerting Industries, Life Sciences, Food Processing and Environmental Technologies sectors, finding and attracting leaders for roles in general management, finance, human resources, administration, marketing and sales, operations, logistics and R&D, as well as a range of specialist positions.

www.search-consult.com For more information visit: Web: www.borderlessexecutive.com

ISSUE 38 2010 search-consult

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The Benefits Of Using

In-House Recruiters For Internal Executive Mobility O

nce the economic recovery is in full steam ahead, companies will face increased movement in and out of the organization. According to the results of a recent 2010 Conference Board survey, employees in every age group and income level are at a 22 year low in job satisfaction. The data from another 2009 study by Execunet/Finnegan Mackenzie reported that 87% of VPs and 89% of Manager/Director level employees would definitely accept or strongly consider a better career opportunity within the next 30 days. These surveys are depicting the enormous amount of dissatisfaction executives are experiencing as they begin to look at moving on. This will increase the talent turnover rates, which can be extremely costly for an organization when these job openings are taking place at the executive ranks. Furthermore, organizations that have a strong brand and best practices have become a breeding ground of strategic talent for their competitors. This article will look at the practice

search-consult ISSUE 38 2010

By Marguerite Granat of integrating internal executive mobility with executive recruitment. Management at M.D. Anderson Cancer Center and Research In Motion (RIM), the maker of BlackBerry smartphones, analyzes the companies recruitment strategies and made a strategic decision to proactively engage their internal executive recruiting function in the business of internal mobility. Each of these organizations has a sophisticated internal recruiting function that is responsible for recruiting the best person for its top executive level positions, regardless of whether the candidate is internal or external. HOW DOES INTERNAL MOBILITY WORK? Internal mobility is usually the accountability of either a Talent Management or a Human Resources business partner. There are variations from company on company in how the top employees are selected for either lateral or promotional moves. The

process is driven by the organization’s needs combined with the data on the employees’ performance results, 360 assessments, development plans and other internal measures. Recruitment methods vary across organizations. What successful organizations have in common is greater transparency, more objectivity, increased professionalism in how internal candidates are approached, and the openness that results in including internal talent early on in the process. This approach to internal executive mobility is improving retention, employee engagement and maximizes the use of its resources to make the best hiring decision for the top roles in an organization. Most internal executive recruitment functions are externally focused and do not have involvement with the internal executive mobility of the organization. The most sophisticated groups function exactly like a retained executive search firm. These recruiters usually have backgrounds in retained

search prior to moving to the corporate side. In fact, the leader of executive recruitment at MD Anderson came from Russell Reynolds Associates. Usually an employee is approached by his or her manager, or by the HR function with a specific assignment in mind. In certain organizations, the employee is offered an opportunity without the employee’s input early on in the process. Depending on the culture of the organization, turning down an assignment may diminish opportunities in the future. “The candidate, whether internal or external, is put through the same exact process with the same level of care and professionalism,” describes Paula Strickland, Director of Executive Recruitment at MD Anderson. At Anderson, Strickland explains: “Every internal candidate approached has a choice. There are no consequences to not exploring an opportunity.” ASSESSING CANDIDATES In most organizations, there is no objective calibration between the internals and externals because the two are not being assessed using the same criteria. The internal recruitment function’s assessment capabilities ensure objectivity when calibrating the internal and external talent simultaneously. Shibu Varghese, Vice President of Human Resources for MD Anderson, reports how comparing both types of candidates with the same criteria has provided an additional benefit. “By comparing our internal talent to what the external market has to offer, we can determine whether our internals are competitive, and if not, what we would have to do to get them there.” This has been an enormous boost, especially when there is a widely accepted perception by the majority of employees that the best opportunities are being reserved for external talent. As a result, key employees will start thinking about leaving the organization

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since they no longer feel committed, nor see the company’s future tied to theirs.

Marguerite Granat

When Dan Fontaine, MD Anderson’s SVP of Business and Regulatory Affairs, realized how devastating this perception was for the organization, he was determined that something had to change. Fontaine has championed Anderson’s internal recruitment team and believes the function’s involvement in internal mobility has definitely increased executive retention. He describes how “the internal recruitment process is not only about filling open positions, but it allows us to recognize the inventory of internal human capital and to continue to invest in our internal pool. The happiest employees are those who feel recognized.” RIM also looks at internal recruitment strategies to help retain and develop top talent within the organization. Rodney Moses, Vice President of Global Recruitment at RIM, looks at both internal and external candidates to fill strategic roles within the company. “In addition to traditional recruiting methods, we also take a close look at who internally may be a

great fit for a role. Sometimes the best person for a position is someone who is already working at the company and is looking for new growth opportunities.” In supporting RIM’s 14,000 global employees, internal career growth and mobility has become an important role for RIM’s internal recruitment team. Through internal mobility programs, RIM continues to provide opportunities for employees’ personal career plans and growth. “The company culture really encourages and embraces internal mobility. We place a high importance on discovering, developing and retaining top talent within the organization,” added Moses. Internal recruitment functions at these organizations are in charge of facilitating the process from initial discussions with the internal candidate and are completely accountable for all mobility, whether internal or external. The internal candidates at these organizations are reacting positively to this approach because it is more transparent since all the candidates are being compared against the same criteria - regardless of the source. It is too soon to tell whether using an internal recruitment function to handle the executive internal mobility will become commonplace. For these organizations, this approach is proving beneficial. Nevertheless, only time will really be able to tell. Marguerite Granat has expertise in recruitment with a mix of in-house and retained executive search. Most recently, she ran a profitable retained executive search firm serving a variety of organizations and industries. Marguerite speaks Spanish, French and English fluently. Her multicultural and Global background enhances her ability to attract diverse candidates into organizations.

www.search-consult.com For more information contact: Email: marguerite.granat@q.com

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Executive Search:

StateOf

The

Industry

xecutive recruiters’ confidence in the U.S. executive employment market reached a 22-month high in April, with 64 percent of 186 search firm respondents expecting more senior-management hiring over the next six months, according to just-released research by ExecuNet, the private membership network for senior business executives and those who recruit them. ExecuNet’s benchmark Recruiter Confidence Index reached 64 percent in April, matching the tally recorded in June 2008. The confidence level was more pronounced among retained executive search consultants, indicating an increasing number of U.S. employers are investing in or expected to soon commit to strategic executive hires as the American economy improves. Introduced in May 2003, ExecuNet’s Recruiter Confidence Index is based on a monthly survey of executive search firms and recognized as a leading indicator for the U.S. economy and the executive job market. A reading above 50 percent indicates recruiters are “confident” or “very confident” the number of executive search assignments launched

search-consult ISSUE 38 2010

By Lauryn Franzoni

by employers in the next six months will increase. “Search consultants are clearly expecting companies to increase management hiring in the second and third quarters, and with a variety of economic indices reflecting economic growth, the positives are starting to overwhelm the negatives,” says Mark Anderson, President and Chief Economist of ExecuNet, based in Norwalk, Connecticut. “The U.S. economic recovery isn’t yet broadbased, but the confidence expressed by executive recruiters here should signal to management job seekers that while some clouds remain, we’re seeing evidence of sunlight after the storm.” The April data set confirmed the promising results of ExecuNet’s 2010 Executive Job Market Intelligence Report, its 18th annual look at the dynamics shaping the executive management recruiting and employment markets across the United States. According to this year’s just-published report, which is based on simultaneous surveys of 3,636 participants including executives, executive search consultants and corporate human resource

professionals, 21 percent of corporations are adding new executive-level jobs. It also revealed that untapped opportunity is hidden in another hiring pocket, as 56 percent of corporations are “trading up” to improve the quality of their management bench by making new hires to replace underperforming executives in existing senior-management roles. Recruiter Confidence in the U.S. Executive Employment Market

Source: ExecuNet.com “We’re very encouraged to see nearly four-out-of-five U.S.-based employers either adding executive management roles or hiring somewhat more surgically and opportunistically to upgrade the quality of their management team,” says Lauryn Franzoni, vice president and executive director of ExecuNet.

How users of most Executive Search Systems research target companies online:

How users research target companies online:

Leave the database.

Open the Research Zone.

The Research Zone will search the web and present the results in its integrated browser in less than a second, with typically just 3 clicks.

Open a browser.

Enter the search area.

Manually build a search.

Try to fit the browser and the database on the screen.

Drag and drop the information you want into FILEFINDER, and click to research the next company.

Manually copy/paste data between them.

No typing. No manually building new searches.

Manually build a new search for the next target.

Repeat...

Executive Recruiters in 58 countries have made the right choice already... have YOU? To learn more, email sales@dillistone.com TODAY and mention search-consult magazine!

USA: +1 (201) 653-0013 • Australia/Asia: +61 2 8221 8860 UK / Other Europe: +44 (0)20 7749 6100 • Germany: +49 (0)69 27 40 15 807 sales@dillistone.com • www.dillistone.com

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“The recent trend lines and U.S. search consultants’ outlook are positive, but it’s also important to acknowledge that we’re also seeing continued caution and employers taking more time to make critical leadership decisions,” Franzoni adds. “The longer-term momentum for the executive recruiting market in the United States should reveal itself in the next few months, and based on what we know anecdotally about the recent growth in search activity, our market indicators suggest slow but sustained growth.” ExecuNet’s annual market study, produced for the third consecutive year in partnership with search-consult publisher Dillistone Systems, confirms that the beginning of 2010 heralded the upturn of executive job creation as U.S.-based companies found ways to survive, adapt and now grow amidst deep recession. The report shows the Healthcare, Clean/Green Technology, and High-Tech industries are poised to lead this recovery in U.S. management hiring in the year ahead. Other industries expected to generate the most executive job growth in 2010 are the Pharmaceutical, Medical, Biotech, Energy and Utility markets. The latest ExecuNet research also confirms that networking remains the best method for companies, management-level job candidates and executive recruiters to connect, with U.S. hiring organizations reporting they advertise only 10 percent of their open, executive-level positions online with publicly accessible job boards. “Our latest data only confirm what we’ve documented for many years, and that’s that the overwhelming majority of U.S. employers don’t expect to fill their top management roles by advertising them on job boards,” Franzoni says. “Rather, they rely on executive search consultants, management referrals, private executive networks and their own talent sourcing resources to attract and hire high-performing leaders for their missioncritical leadership roles.” ExecuNet research also confirms that total executive compensation, on average, decreased 12 percent in 2009, with pay

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for U.S. chief executive officers showing the biggest drops. Across all seniormanagement functions, just 22 percent of executive compensation packages negotiated in the past 12 months featured guaranteed severance, lasting an average of nearly nine months. Perks, including company cars, club memberships, housing, and favorable loans, dropped from being incorporated into 39 percent of all executive compensation packages in 2008 to just 28 percent in 2009. Other highlights from ExecuNet’s 2010 Executive Job Market Intelligence Report reveal a shifting career-oriented attitudes among executives, who likewise continue to express increasing confidence in their own prospects, as revealed in this data: • Despite the economic downturn, fewer than 10 percent of job seeking executives are willing to accept the first offer they receive from any prospective employer. • 85 percent of executives report they are committed to their organization and their work is engaging and a source of pride, yet 82 percent would return calls from executive recruiters in hopes of building a relationship that could lead to a new position. • Networking accounts for more than two-thirds (68 percent) of career options uncovered by executives, and more than half (53 percent) of candidates begin as unknowns to recruiters. Further, 80 percent of corporate talent managers are concerned about management retention and how the departure of key performers might impact corporate productivity and profitability in the second-half of the year. “As more companies shift from survival mode to growth mode, it’s not

surprising that their talent leaders would begin to assess not only the gaps in their existing management teams but also the risk of losing top executives, which may only accelerate their plans for hiring at the executive level,” Franzoni says. “Our research demonstrates that high numbers of executives are engaged in their work, but nearly an equal number are also beginning to leverage their networks to see what opportunities are out there and what executive recruiters might bring to their table.” For more information on these topics and others including the fastest growing U.S. management functions and executive hiring by region, the most effective networking strategies, and top professional priorities, a summary of the 2010 Executive Job Market Intelligence Report is available at www.execunet.com/marketreport. Mark Anderson, President and Chief Economist, ExecuNet is a speaker at The 2010 Executive Search Consulting conference. See page 4-5 for details.

Published annually for the past 18 years by ExecuNet, a private membership network for senior business executives and those who recruit them, the Executive Job Market Intelligence Report provides senior-level executives, talent management leaders and executive search firm professionals with proprietary market data, best practices, and timely analysis of executive-level career development, recruitment and retention issues. Executive-level denotes professionals at the Director/Vice President/C-level with total annual compensation of $150,000 or greater. The report was produced with strategic partner organizations: Forbes; Financial Executives International (FEI); the Marketing Executives Networking Group (MENG); and Dillistone Systems, publishers of search-consult. The surveys, which ExecuNet has conducted online annually for the past 18 years, seek to determine trends and best practices in executivelevel career development and candidate search, hiring and retention.

www.search-consult.com For more information visit: Web: www.execunet.com

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A Comparison:

SuccessOn

Field The And In

Executive Search

ll of us look for the most promising way to success, but there seems to be no patent medicine available. This is true in every discipline. In fact, as a former Olympic Champion, I can find common similarities between being extremely successful in sports as well as in executive search. I was a member of the renowned German Field Hockey Team that won various world championships and now I am an executive search consultant for AIMS International, which is considered to be among the top five search firms worldwide. Until 2001 Germany had never won the World Cup in field-hockey, which had been dominated by India and Pakistan for decades. After Germany finished 5th in the 2000 Olympics in Sydney, a change had to be made if we were determined to win the gold. To achieve this objective we established key principles that we adamantly followed, allowing us to begin our impressive run of successfully winning Championships.

By Christian Schulte These key principles have been fundamental in allowing me to be a successful athlete, and today, these same principles are allowing me to be a successful executive search consultant. In fact, there are three crucial elements to consider if you want to achieve success: • Clearly define your vision and then subsequent goals/action plan, • Adopt a team approach, • Prepare to conquer the challenges and difficulties that lay ahead. A CLEAR VISION After Sydney, the German fieldhockey team had established clear action plans to obtain the gold in 2008. Our first objective was to be World Champions in 2002 and thus win this title for the first time in history. Our second goal was to continue “our wins” by becoming European Champions in 2003. We then focused on attaining the World Championship in 2006, and finally, we set our sights on becoming Olympic Champions in 2008.

We added action goals to make this vision tangible. For example, our shortcorner specialists said they wanted to shoot 800 short-corners per week. This meant that as a goal keeper, I had to exercise 600 stick safes weekly to have the greatest possible chances of being effective in blocking this key move. Twice a day – every day - in every training session, we were reminded of our action goals. And at least a thousand times a day, we came to grips with our vision. Throughout the day, from the moment we woke up, got dressed, ate, trained, and even the last thought before we went to sleep was focused on our vision. Make sure you have clearly defined your vision from the very beginning. For example, for the Olympics in 2004, we had been indecisive; we envisioned our team reaching the semi-finals, but because we were hesitant and unsure of our performance, we decided to wait and let the winner to be defined at the Olympics. The end result was that we finished with a bronze medal. This was

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extremely disappointing, especially since we had the opportunity to have gone further. Nevertheless, it taught us the importance of always having a clear and definite vision from the very start. In the search industry, something similar happens. I have seen a great deal of executives that produce complicated visions, taking into consideration a great number of components. Clients need to understand and to be able to communicate exactly what they want. It is important to remember that the more details you try to cluster into your vision, the more people will mix them up. If you want it to be successfully implemented, keep the vision simple. Have management discuss and determine what the vision is, and then prepare the action plans to implement the vision within the time period agreed upon. Make sure every employee understands the vision, and especially their role in obtaining these objectives. As an executive search consultant, this may mean you have to shift your mindset. You may also have to change: the way you conduct a search, the way you attain prospects, the way you assess candidates, the way you work with your clients and even the way you cooperate with your colleagues. A successful executive search consultant is someone who is able to work from the start with the client in helping define the client’s wishes in detail before the search even begins. It is like a customer sending a consultant to the bakery to get a cake. The consultant comes back with a white cake, but the customer is unhappy because he likes chocolate. The consultant then goes out and brings back a chocolate cake, but the customer is still unhappy because he also wanted cream on it. This goes on for several hours until the customer finally gets what he wants; but, because it was late both he and the consultant

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are both frustrated and angry with all the time wasted. Had the consultant gotten a better description from the customer about the of cake, ingredients and purpose, the consultant could have found a bakery that would have been able to bake a chocolate cake, with cream on the side, with the inscription on top of the cake “Happy 45th Birthday Jane” written in vanilla icing, ensuring that the cake doesn’t contain nuts because

Christian Schulte

Jane has a nut allergy, and having the cake delivered before Jane arrives at 5pm. Not only would the customer and the consultant both been happy, but also Jane, who would have given her husband a big kiss for not forgetting her birthday. The consultant faced challenges. He first called all of the bakeries he knew and found out that either timing was a problem or the bakery was missing one of the ingredients. The consultant then tried the bakeries he didn’t know in the yellow pages, with no luck. However, one of the bakers he contacted told the consultant about a restaurant he knew that might be able to bake a cake like the consultant was

looking for. The consultant called the restaurant and was then able to get the precise cake at the exact time the client requested. Make sure you are as determined – whether as an athlete or a search consultant - to do your job effectively. ADOPT A TEAM APPROACH It is critical for success that everybody brings their personal strengths, skills and experiences to the team. In the German Olympic field-hockey team we needed all kinds of personalities to have a successful team. There also has to be a balance between the offensive and defensive stars; each working individually and yet at the same time working together to attain their objectives. The coach and every member of the team must understand their roles, and work together to collectively achieve success – this mindset is extremely important! To understand the importance that every player had on the German field-hockey team, we worked with a sports psychologist. One of the effective techniques he often used was: he asked us to gather in a circle, one behind the other, so that if you lean back you cannot fall because the man behind you is protecting you from falling. All the members of the circle can then sit on the knees of the backer since the circle enables everyone to do so. If one link in the circle is broken, all the players will then have to invest a lot of energy not to fall. Nevertheless, in the end, they will all fall; the exercise demonstrated the importance of working together as a team, relying on each other for support and how one broken link can easily destroy obtaining your objectives. On the field, in the battle for the glory, you will need every team member to do their best to beat their toughest opponents. If the players really have understood this lesson, they will work hard during their preparation

to minimize their weaknesses and build upon their strengths to successfully attain their respective goals. Now, in the executive search industry, if you want to be a successful consultant you must understand that everybody who takes part in your business needs to be involved, add value, continue to grow and support each other during the good and bad times. This implies much more than just your colleagues that work for the same executive search firm that you do, but include key external partners, such as contact personnel from client companies, candidates that you placed on the short-list and partners that provided your firm and your clients with complementary services, such as behavioral assessment, M & A advise, etc. This can be especially challenging during cross-border searches since cultural differences mean you often have to invest more in finding the appropriate way to involve your crossborder partners and appease your clients’ concerns. My previous experience as an athlete has been fundamental in opening my mindset to working effectively with various cultures since my first international tournament was at 14 years of age. I quickly learned that the more exposed you are to different nationalities and cultures, the better you can recognize, accept and deal with these cultural differences. When searching for international companies, it is not only important to be aware of the culture of the country, but also the company, as well as if the hiring manager is from somewhere else. This is especially critical when assessing a candidate’s fit. As the demand for cross border searches continues to increase, consultants, who previously used to work on single-country, must adapt their focus and learn to work, fulfilling the needs of the whole global team and not just the local office’s.

BE READY FOR ANYTHING Preparation is fundamental for success as those who do not prepare themselves effectively will certainly fail. In field-hockey, to win a major tournament you will always be confronted with lots of difficulties. For example, what happens if one of your star players gets injured? If you wait until this happens to react, it will be too late. You must prepare for this situation beforehand. In the case of the injured player, we knew exactly who could cover the empty space of the missing leader because we had discussed these possibilities before each tournament. A funny situation was when we realized that there would be no bananas available in Malaysia (World Cup 2002) and some of the players swore they needed them to be at their best. How did we resolve this? We imported a whole mountain of bananas. It was essential that we anticipated potential problems and then created solutions so that we were never caught off guard. We built upon our strengths and worked on our weaknesses instead of simply pushing the ball into the circle, hoping something good would occur. As you can see, sports are full of challenges, as is the executive search business. None of your clients, projects, candidates, nor your colleagues are the same. Each must be treated differently, based on their individual circumstances. One of the most simple and most effective ways to help your client is by really discussing their situation and challenges – taking into consideration their perceptions, potential candidate’s perceptions as well as your own assessment. What do they want to achieve with the new executive? Is it simply filling an existing job or creating a new position? Also it is important to know what the consequences are for the client by not having the position

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filled with the right candidate by the time the client had requested. Although in business we cannot have a detailed playback of the game to evaluate our performance, we still have to assess our performance after the project has ended. We have to ask ourselves: “What did I do well? Where did I fail? What could I have done better?” We should also ask our clients and candidates: “What did they like about us? Where do they feel that we could improve?” These types of questions are vital in sports as well as in executive search. This will help us as we review our objectives, strategies and tactics. We should review them individually as well as a team. We should compare them with our clients as well as our competitors? We should then make the necessary adjustments and prepare ourselves for the next challenge- whether it is another game or search project. Always strive for the gold, strive to achieve your best!

Christian Schulte - International Business Development Manager at AIMS International. While having a successful career as an athlete, a core member of the German field-hockey team that won the European, World and Olympic Championships, Schulte also managed to attain a university degree in Business Administration. He has worked for over a year with AIMS International, focusing on obtaining potential clients as well as servicing and developing existing clients. Previously, he worked for close to 4 years as a Consultant at Mercuri International. You can contact him at christian.schulte@ aims-international.net. AIMS International is an international search organization of independently owned and managed executive search firms who work collaboratively to execute senior level searches around the world. AIMS International is represented by over 350 consultants in 90 offices in over 50 countries throughout five continents. www.search-consult.com For more information visit: Web: www.aims-international.net

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ABrief History

Of Executive Search

Technology By Jason Starr

1980: 1990: 2000: 2005:

The Executive Search Database is actually a little black book. Researchers cut articles out of newspapers and everything is written by hand. Most Executive Search Firms have databases. Suddenly it is possible to manage larger volumes of candidate information. Executive Search Management Systems are common. No longer just a database; systems developed for retained executive search help to manage the assignment process. The Internet is increasingly useful as a research tool. Information on the web may supplement information on the database - if it can be found.... All of these tools are used alongside the database.

TODAY:

- Executive Search Systems* are able to search the Internet for candidate and company information. - Executive Search Systems* are able to “read” LinkedIn profiles and convert them to database records without the need for retyping. - Executive Search Systems* may be accessed via mobile devices. - Executive Search Systems* are fully integrated with MS Outlook for sending emails and creating appointments and to-dos.

* Well, some are.

Since its launch in March 2009, over 250 Executive Search firms have implemented FILEFINDER 9 - Executive Search System from Dillistone Systems. The FILEFINDER 9 suite offers all of this functionality, and more. 16

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ver the last few weeks, I’ve had the very great pleasure of meeting with – literally – hundreds of retained executive search professionals at Dillistone Systems’ “Breakfast Briefings on Internet Research Techniques”. At one of the events – in Chicago – I was chatting to a senior researcher with a very large global Search business about the impact that technology had had on the industry. It got me thinking. Back in 1983, when David Dillistone wrote the first FILEFINDER, the vast majority of executive search firms would have had little in the way of technology. Back then, researchers would photocopy newspaper articles about executives, and keep them in scrapbooks... Resumés would fill filing cabinets, and search was a paper intensive process. When I joined the business some 15 years later, most firms were using databases, but they were just that – databases, with very basic journaling functionality. Some might have the ability to send a mail merge letter but very few users could remember the combination of CTRL and FN keys required to achieve that. At the turn of the century, technology had moved on again. By then, executive search software had added “Project Management” to the functionality on offer. It was only a few years later, however, that technology really began to impact on how search firms worked. At the height of the

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dotcom boom, I remember hearing a speaker at conference telling a suspicious audience that the Internet would “disintermediate” retained search. That Corporations would all be recruiting senior executives from the likes of Monster. Of course, that never happened. Rather, technology had a hugely positive impact on the search industry – email massively increased communication efficiency, the Internet allowed firms to operate internationally whilst technology such as “Résumé Extraction” allowed Search firms to reduce administrative overheads significantly. More recently, we’ve seen the arrival of sites such as LinkedIn. Huge databases of rich, valuable information which is available to pretty much anyone in the world. Search engines allow users to identify and research senior executives across the world in seconds - whether they are found on Corporate websites, press releases, the financial press – or pretty much anywhere else. Executive Search Software is now used as much to find information from outside the database as it is to find information within the system. Systems, such as our FILEFINDER software, are now used as much to search social networks and the web, as they are to search through records within the internal database. Research suggests that 80% of placed candidates are individuals found through fresh research such as this. So, what of the future? Well, the one thing that we can predict with confidence is that technology change

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is likely to get faster and faster. That’s why – despite the recession – we’ve increased our expenditure on product development, made no redundancies and actually have more people working on the development, implementation and support of FILEFINDER today than we have ever had. In the last year or so, we’ve launched an entirely new version of FILEFINDER – already implemented by over 250 firms across the globe; since then added new tools to extract information from LinkedIn profiles, to simplify the import of spreadsheets and resumes. Just this month, we’ve added a new facility to our “Research Zone” to automatically identify links between Directors of public boards. If your software supplier is not keeping up with the pace of technology, we’d welcome the chance to talk to you about how we might be able to assist. Please visit www.dillistone.com or email sales@dillistone.com. Otherwise, we hope to meet you at one of our upcoming “Breakfast Briefings”. Jason Starr is President of Dillistone Systems, publisher of search-consult magazine. He was the host of the Dillistone Systems breakfast briefings in Chicago, London and Hong Kong and will also be hosting a number of the upcoming events detailed on page 2.

www.search-consult.com For more information visit: Web: www.dillistone.com

INTERNET RESEARCH BRIEFINGS LEARN HOW RETAINED EXECUTIVE SEARCH FIRMS ARE LEVERAGING THE INTERNET TO IDENTIFY AND RESEARCH COMPANIES, SOURCES AND POTENTIAL CANDIDATES

Book a briefing for your company or a Partners’ Meeting TODAY! Email events@dillistone.com or visit www.dillistone.com/events ISSUE 38 2010 search-consult

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How To

Make

ASuccessful Hire

-A Post-Script M

y previous article, “How To Make A Successful Hire,” (found in issue 37 of search-consult magazine) provided tips for initiating a search, and setting up the search process. But as I noted then, even with the most organized, efficient and effective process, finding the right candidate for the job is not guaranteed. In today’s economic climate, with no shortage of candidates for each job, this “buyer’s market” poses challenges in sorting through all the resumes, deciphering out the strengths and weaknesses of each candidate, and determining if the best person on paper is really the right one for the job in real life. Assuming that the search is on, and the process is impeccable, what are the most effective ways to get to the heart of each candidate’s suitability? How can one best elicit information needed to ensure good cultural compatibility between the candidate and company: whether the candidate will address challenges at work creatively and thoughtfully, possess a sound work ethic and high levels of integrity, share the same temperament and personality as the company’s underlying culture, and inspire colleague and subordinates with the most effective management style? Knowing how to find these answers is key,

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so that the wrong candidate is not hired, and the right candidate is not too quickly dismissed. THE FIRST TWO MINUTES IMPORTANT BUT NOT THE WHOLE STORY There is nothing as immediate as one’s first impression of someone. We have all decided in a split second whether someone seems like “our” kind of person. And we establish these impressions from the simplest of things: Is the candidate dressed appropriately, neatly, and seemingly comfortable in his/her skin? Does the candidate look you in the eye, seem sincere and interested in meeting you? If the candidate has been waiting in a room before the interview begins, does he/ she stand up when they are approached? If (as sometimes happens) there’s been a delay to the meeting’s start, what’s the reaction? Gracious? Resentful? When I was General Counsel of a large entertainment company and pressures were high, I once rushed late into an initial interview with a prospective hire. Despite my apology, the candidate berated me about how her time was valuable and I had treated her unfairly. The impression she made, obviously, was that she would not fit in to the kind of “hurry

By Lisa Rothblum

up and wait” atmosphere of the company. The interview was canceled. What’s the candidate’s handshake like? Fishy or strong, loose or with conviction? I have been teaching my daughters how to look someone in the eye, offer their hand, and provide a firm grip when they meet people since they were six. It’s not just polite, but it provides the first marker to one’s credibility and confidence. Nonetheless, sometimes no one’s ever told the candidate to beef up their handshake. If after further discussion with a weak hand-shaker the candidate seems otherwise impressive, a simple suggestion to refine this habit going forward might be in order. A candidate who constantly interrupts, finishes your sentence, or talks over you might reflect a cockiness and inability to really hear what a client says, means or needs. If this tendency continues, your gut might be accurate. If it abates as the meeting continues, it could well be the candidate was just nervous, over eager and trying too hard to impress. While I do admonish clients to trust their instincts about their initial impression, I also believe they should be taken in perspective. These are red lights, but need not be non-starters. Just do not dismiss them if other warning signs appear.

CHOOSE THE SETTING - PICK THE AUDIENCE An interview can serve as a good backdrop for keen observation. It’s always a good idea to mix up the settings of what should definitely be several meetings (and with people at several levels in the company) throughout the search process. If the initial interview is held in one of the company’s offices -- the HR Department, a conference room, an office of one of the company’s employees -- the standard-issue setting should not be taken for granted as a potential barometer. Observe the candidate’s body language, eye contact, openness, whether they are avoiding a question or being vague in their answers. Do they have a sense of humor, or sense of entitlement? Are they defensive? Do they seem to suffer from “sour grapes” or tell-tale frustrations about their former employer? DO YOU LIKE THEM? If the interview process moves to the next step, it’s a good idea to change the setting. A meal in a restaurant is a great way to watch their rapport and manners with third people, their patience level, manners, ability to small talk and develop a connection, engage others in conversation, be comfortable with banter, and not squirm during lulls of conversation. “ACTIVE” VERSUS “PASSIVE: ASK THE RIGHT QUESTIONS The interview process is intended to discern how a candidate will approach the job, deal with thorny issues, communicate to the right people, and incentivize subordinates, colleagues and management to include trust, reliance and working well with him or her. A mere recitation of the candidate’s background and experience will not foretell whether he or she is a good match for the company. Rather, one needs to assess the manner in which the candidate will act, react, and lead or follow -- an assessment that is best made by asking what are commonly known as behavior-based questions. For example How have you dealt with a subordinate who is always late and misses deadlines?

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Lisa Rothblum

Tell me a situation where you were asked to perform a task that you felt illequipped to handle - due to knowledge, experience or resources - and how you handled that challenge? What sorts of accomplishments in your previous jobs are you most proud of? What provides the greatest sense of satisfaction? Have you had mentors, or been a mentor, in your other job(s)? If so, how did that relationship come about? How did it affect you? What’s the biggest mistake you have made in a job setting and how did you deal with it? What makes you best “tick” in a job setting? What irks you and discourages you most? What would your subordinates say about you? How would your colleagues perceive you? What would management say about you? Are their assessments accurate? Do they see you as you see yourself? A candidate’s answers to questions such as these provide insight into not only the type of employee the candidate has been in other jobs, but also whether the candidate will be likely to adapt well to and be compatible with the culture of the new company. Moreover, it has been my experience that when discussions

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include such behavior-based questions, the candidate, in turn, seems to ask more pointed questions about the company’s environment, culture and “personality.” In some circumstances, the dialog results in self-selection; for example, a candidate who acknowledges his or her preference for autonomy and frustration with bureaucratic approval processes is then hard-put to feign interest in a position that reports to a micromanager. Each candidate (and company) is complex, complicated and unique, as is the relationship between them. Therefore, it is imperative that sufficient time and effort be devoted to thoughtfully examine the expectations of each party and what similarities (or differences) exist between their personalities and cultures to gauge whether the fit will be good. Both sides should have the opportunity to share and exchange information and reveal as many dimensions about themselves as possible. The company that thoughtfully engineers the interview process to include a multitude of methods to gauge the suitability of a candidate stands the best chance of finding that right match. Lisa Rothblum is a Senior Director in the New York office of ELR LEGAL SEARCH, where she handles high-level in-house and law firm searches. Prior to her recruiting career, Lisa served as a lawyer in the Enforcement Division of the SEC, a litigation associate at a prestigious NYC law firm, and as Senior Vice President and General Counsel of PolyGram Holding, Inc. (now known as Universal Music Group) and then as Senior Vice President, General Counsel and Corporate Secretary of Atari, Inc. Before joining ELR, Lisa was a Managing Director of the In-House Practice Group of Major, Lindsey & Africa. Lisa can be reached at Lisa.Rothblum@elrsearch.com. ELR LEGAL SEARCH is a legal search firm offering professional, confidential attorney placement and search services. It is a team of experienced recruiters -- each of whom has been a practicing lawyer -- who share a common goal: to provide top-quality, client-focused legal placement services. With three offices throughout the US, ELR provides dedicated attention and deep market knowledge associated with a local recruiting firm, along with the scope and sophistication of a national market leader.

www.search-consult.com For more information visit: Web: www.elrsearch.com

ISSUE 38 2010 search-consult

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Market Perspective:

EasternEurope

he past two years have been difficult, especially in Russia and the CIS countries. Most organisations had to implement hiring freezes and concentrate on retaining the top talent within their organisations. During this period, some of the key developments in the region were: • Crisis did not hit all the countries in the same degree, while the GDP growth in Azerbaijan or Uzbekistan for 2009 was more than 7%, it fell in the Baltic countries of Latvia and Lithuania by 16% and 17% respectively; • Not all of the sectors were affected, e.g. Pharma remained strong, Telecommunications kept growing; however, Banking, Real Estate, Automotive and Professional Services suffered a great deal; • Demand for highly skilled executives slowed down significantly - recruitment has mainly been driven by replacement needs, as opposed to aggressive expansion seen in the previous ten years; • First wave of job cuts occurred in October-December 2008; however, a second and larger, surge transpired in March-April 2009. This wave did not impact high performers and strategic roles; • Worker “protectionism” has arrived, for crisis or political reasons;

search-consult ISSUE 38 2010

By Gautier Vasseur & Sergei Serdioukov

• In regards to compensation, benefits were cut in many firms, and the general preference to cut benefits before salary prevailed; • Golden parachutes offered during boom times proved expensive in 2009. In many countries, such as Ukraine or Kazakhstan, the local currencies decreased significantly; local businesses were badly impacted and as a result their managers began seeking positions within multinationals, often for significantly lower compensation packages. This trend also created new opportunities to develop production and shared services centres at lower costs, while also contributing to the diversification of the Eastern European economies. There continues to be, however, a shortage of highly skilled experienced managers: many young local executives were surprised by the speed and amplitude of the crisis, hence companies had to increase the seniority of their boards and strengthen their corporate governance structures. Over the years Pedersen & Partners has helped clients to attract expatriated talent back to their home countries, and to identify western directors with relevant language and intercultural management skills willing to live in Eastern Europe. During these turbulent times, there is, however, a reluctance to change jobs, as

candidates prefer to stay in the companies where they feel secure rather than venture into unchartered territories. HOW HAVE EXECUTIVE SEARCH FIRMS ADVISED CLIENTS DURING THE RECESSION? During these challenging times executive search firms have responded in many different ways; we have observed a mixture of the following: • start working on contingency when the client is not willing to pay retainers; • higher flexibility on fees and search methods; • continue same business model, but reduce costs; • focus on leadership development / human capital development services, especially focusing on helping clients reduce costs in smart ways (for example by offering outplacement services for employees made redundant); • start more broad management consulting services; • start interim management. At Pedersen & Partners we made a decision to not change our business model or launch new services in the middle of a crisis, but to stick to only retained executive search. Additionally, as the first flickers of the crisis were appearing in 2008, we also decided to act in a very swift and tough

Mastering LikedIn For Executive Recruiters - a series of webinars designed to show you how LinkedIn works, how to ensure you find who you want to and how to raise your profile in your market in order to win more business. Mark Williams is an experienced Recruiters and one of the best known independent LinkedIn Trainer. He spent 19 years in specialist recruitment in the UK operating as a Consultant, Manager and latterly Managing Director in the Sales, Financial and Supply Chain sectors. In 2008 Mark set up ETN Training, a niche training provider operating in the field of social media. Mark’s particular area of expertise is with LinkedIn. “I firmly believe that LinkedIn is one of the most exciting developments there has been in the recruitment industry for many years. It is now firmly established as a ‘must have’ tool for any recruiter yet so many are still unsure of how to use it effectively. My mission is to educate and inspire Recruiters to understand how to network effectively online”.

Mark Williams

Creating A Powerful LinkedIn Profile Building A Network And Using Groups; Account & Settings Searching, Approaching And Researching Clients And Candidates Recommendations, Running Your Own Group, Answers And RSS Feeds Applications Networking Online, How To Increase Your Visibility To Gain More Business

NEW DATES AVAILABLE ONLINE!

unts Disco able avail ltiple u for m kings boo

Each of these ONLINE TRAINING sessions lasts approximately 1 hour. Please check local times before booking.

For more information and to book please visit www.search-consult.com/LinkedIn Each session costs US$130 / UK£80 / €90 / HK$1010

Online payment facility as well as downloadable booking form available at

www.search-consult.com/LinkedIn

+44 (0)20 7749 6102

events@search-consult.com

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manner. Subsequently, by the end of 2008 Pedersen & Partners had reduced its costs, which included: headcount reductions, reductions of fixed compensations or reduction of office space, while still managing not to close any of our 37 offices. As a result, we managed to retain a strong profitability and cash position, despite falling revenue. Another area that played a critical role in the effective and streamlined management of operations is shared services. It has, for example, facilitated rapid optimisation of our support functions (Finance, Business Development, etc.) and related costs globally, providing effective services to our local offices. HOW AND WHY HAS THIS STRENGTHENED YOUR BUSINESS AND COMMITMENT TO THE CIS MARKET? We saw that last year most global executive search firms were prioritising their operations in Western markets. Pedersen & Partners, which already has a strong presence in Eastern Europe, decided to keep investing in our business in this region. During 2009, we began to gradually increase salaries, keep a strong team spirit and in the second half of 2009, systematically and successfully recruited strong fee earners from other executive search firms. In February 2010, Pedersen & Partners took over the Russian operations of EWK International, significantly strengthening our business and team in Russia, and our commitment to the CIS market. Through the take over, we attained top notch, experienced consultants with nearly 18 years of executive search experience in this region, adding value to our clients’ talent requirements. This has proven to be critical in a region abundant in opportunities, yet, still vulnerable to instability and its historical legacy. WHY CLIENTS ARE CHANGING? In order to develop business in a fast growing market, experience is not crucial. For many years in Eastern Europe it was

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enough to hire local talented managers, typically young and ambitious, with the energy and creativity to implement systems and develop operations faster than competition. The situation today is different because markets are maturing and becoming less predictable; there is less room for mistakes. Our clients need experienced managers who have the ability to analyse any situation from a top-down perspective for long-term decisions, and also have the emotional stability to avoid overreactions. Global companies are also imposing their market rules: for example, in the FMCG sector major chains have changed the distribution model in Eastern Europe and require more sophisticated Key Account Management or Trade Marketing; Financial companies are requesting more mature finance management; customers also expect better level of services - particularly in consumer banking, insurance or in after-sales. To stay competitive, our clients need to adapt to these changes by hiring executives who can prove their outstanding knowledge, be able to operate in the CIS market while taking the global context into consideration. Business executives in post-Soviet markets tend to stick to one plan. By sharing our experiences, Western practices and local labour market knowledge, we advise our clients to anticipate different scenarios, pro-actively prepare relevant alternatives and help them be able to respond faster. HOW TO ATTRACT LOCALS BACK HOME? We noticed that locals working abroad tend to underestimate the ongoing changes in the business environment of their home countries; however, a detailed description of the potential employers’ situation and a comprehensive job/mission description is usually enough to get their attention. In most cases, they realise that an offer to return to their native country is an attractive career step, with a unique opportunity to use their skills for the development of their

country and a chance to come closer to their family. Though the current environment remains uncertain, those companies who were able to quickly adapt and make tough decisions have survived the hardest times, and are now able to concentrate on their future. Today at Pedersen & Partners, we are proud of how our partnership has been able to turn the difficulties we faced, as a result of the crisis, into opportunities. We are now fortunate, having managed our way through, to be able to share our lessons so that others may also be able to find the light at the end of the tunnel.

Gautier Vasseur, Partner and Head of Russia and Central Asia Gautier Vasseur has been with the firm since 2003, first working in the Prague office, then out of Moscow. Mr. Vasseur has completed over 200 assignments for Senior, Board and Supervisory Board level across all sectors in CEE, Russia and CIS countries. He holds an MBA from Chambery Graduate Business School in France and a Specialised Master’s Degree in Intercultural Management. Mr. Vasseur speaks native French, fluent English and German and can communicate in Russian. Sergei Serdioukov, Partner and Country Manager for Russia Mr. Serdioukov has over fourteen years experience in executive search in Russia, and eight years of management consulting experience with Accenture and A.T. Kearney, including organisational design and change management for leading multinational and Russian companies. He has completed numerous senior level searches and leadership assessment projects for leading players in the Russian and CIS markets in the areas of consumer goods, financial services and professional services. Mr. Serdioukov speaks native Russian, and fluent English and Chinese (Putonghua). Pedersen & Partners is an international executive search firm operating 37 wholly owned offices in Almaty, Athens, Baku, Belgrade, Bratislava, Bucharest, Budapest, Chisinau, Dubai, Helsinki, Istanbul, Johannesburg, Kiev, Ljubljana, Minsk, Moscow, Munich, Nicosia, Prague, Riga, Sarajevo, Skopje, Sofia, St. Petersburg, Tallinn, Tashkent, Tbilisi, Tehran, Tel-Aviv, Tirana, Toronto, Ulaanbaatar, Vienna, Vilnius, Warsaw, Yerevan and Zagreb.

www.search-consult.com For more information visit: Web: www.pedersenandpartners.com

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Taking The Plunge:

Recruiting

In The

Energy Sector W

by Pablo del Amo Serrano

hile the war for talent has abated in many sectors due to the economic recession in various major world markets, the energy sector is an exception. This sector currently suffers from a shortage of qualified mid-level executives, which will have a significant impact on top executive talent in this sector in the near future. This is particularly worrisome taking into account that the energy sector is more technologically dependent than ever.

force, and consequently universities and technological institutes experienced a drop in enrollment. This, coupled with the fact that other industries were in full expansion (i.e. the technology sector) and therefore paying higher salaries, helps explain why today there is a shortage of talent in the energy sector. As the demand continues to outstrip the supply, salaries, bonuses and benefits have improved dramatically as a means of retaining and attracting a highly qualified work force.

LOOKING FOR OIL The Oil industry, in particular, is undergoing profound technological changes as it has to adapt to enormous water depths for the exploration and production of newly discovered, and to be discovered, deep-water fields. It has to use increasingly more sophisticated seismic techniques - Full Azimuth Reservoir Illumination and coil-shooting techniques - to map with accuracy of these new deep-water reservoirs. This is added to the extremely complex mathematical interpretation of that data once collected, making a properly trained workforce essential. This is not the first time a serious talent shortage takes place in this industry, as the problem seems to be recurrent and closely tied to oil and energy prices. Low energy prices during the 90s forced companies to downsize their work

RENEWING ENERGY SOURCES In similar terms, the renewable energy sector is expecting a future of exponential growth and an elevated need for talent, but is facing real challenges in terms of recruiting adequately trained staff. This sector will only flourish by adopting a long-term vision for recruiting, retraining and retaining key professionals. With wind power, solar power, nuclear energy, wave power and many other emerging new technologies coming into the equation, it is widely recognized that the renewable sector is currently suffering, and will continue to face, a skills shortage that directly affects its potential for growth. CREATING A GLOBAL WORKFORCE Unfortunately, there is no magic shortterm formula. But there is a lesson to learn for the future: because this sectorâ&#x20AC;&#x2122;s

volatility is so closely linked to the overall economic and industrial climate, this phenomenon will occur again. Consequently, since the energy sector is a global business, it should have a global workforce. While this fact might seem obvious, there are very few companies that know how to produce a truly global workforce. The proof is that very few executives in the major energy and oil companies around the world are from developing countries - where most of the production takes place and where complex negotiations with governments that greatly affect the success of the business, occur. Companies in the energy sector are increasingly recruiting more of their workforce from the developing countries where they operate, but the training and internal promotion of this workforce is clearly lacking; therefore, they contribute to increasing the talent pool, especially at the mid- and top executive levels. These developing countries produce large quantities of highly qualified engineers who are less sensitive to the volatility in energy prices and fluctuations in the sector, simply because in these countries there tends to be much less cross-sector opportunities than in other sectors, such as technology, that easily draw from the same talent pool in more developed economies. ISSUE 38 2010 search-consult

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We must not forget George Bernard Shaw’s famous words: “The reasonable man adapts to the conditions that surround him…the unreasonable man adapts surrounding conditions to himself… all progress depends on the unreasonable man” (and woman). Few companies have successfully implemented a global recruitment and professional development approach. However, one of the exceptions is the oil service giant Schlumberger Limited (SLB), who has been hiring people from the local markets in which it operates for many years, envisioning their longterm development with the company. By moving these people out of their respective countries (and with the intention of eventually returning them back to their home countries at some point in their careers), Schlumberger has achieved a unique company culture which pays high dividends in the long-run. This technique has its costs, but it has also proven to achieve exceptional results, among them a high ROI. Companies, in many cases, should start the implementation of a global approach by changing the composition of their Boards of Directors, that more often than not, are composed entirely by Europeans and North Americans, regardless of the primary geographic areas in which these companies operate. However, simply recruiting diverse nationalities is not enough. The challenge is to produce a diverse company culture, and this is not possible if management is all cut from the same cloth. WHAT LIES AHEAD? The challenge for executive search firms is to find those resources now. Obviously only those firms with a truly global reach in all the major geographic areas can find the appropriate talent, but more importantly, can help their clients prepare themselves for the challenges that are emerging. The complexities that executive talent faces, especially within the energy sector, requires the aid of executive search

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Pablo del Amo Serrano

consultants with proven expertise in the field, and those search firms that have top rated consultants will prove essential for successful searches when oil and other energy related companies knock at the door for talent. Areas like reservoir mapping, trace inversion, risk portfolio management, MWD (measurements while drilling), carbon capture expertise, all in the upstream area, and hydro-cracking and catalytic experts in the down stream, solar panels, photovoltaic experts, etc… all require a deep understanding of how this industry operates, the type of technology that is involved and the type of talent that is required to be able to properly execute these kinds of searches. Over the last few years a pattern of recruiting executives from industry service companies has emerged. This pattern is partially caused by the talent shortage within and around energy companies, but also by the outsourcing trends imposed in the late 90’s and the integrated contracts in which most industry service companies operated, facilitating a more global understanding of the industry compared to a more focused one that was perceived in the past. Unfortunately, this also means that some energy companies will start to see more senior level executives without the background and experience that these

higher ranking positions have been accustomed to in the past. Hopefully this will gradually change since the energy sector is now commanding high salaries, attracting highly qualified talent and motivating universities and technological institutes to graduate more students with these specialties. The cycles of recessions have taught us that those who slash investment in recruitment are left with an aging workforce dictating the market and the conditions of employment, commanding high salaries, and often on a contract basis. This has bred a culture where young, talented engineers chase shortterm high-value contract roles, which has cost the oil and gas sector dearly, and is a lesson from which the renewable sector should learn. Pablo del Amo Serrano, Partner responsible for the Energy and Natural Resources practice at Bao & Partners/Signium International in Madrid, Spain, has experience in emblematic companies of the energy and natural resources sectors. He has more than 30 years of experience in both technical and management positions in the Natural Resources and Energy sectors in Latin America, the United States, Europe, Africa and Asia, with a special focus on Human Resources. Most recently before joining Bao & Partners/Signium International, he was the Executive VP Human Capital Worldwide at Checkpoint Systems Inc, responsible for global corporate cultural transition. Previously he has worked as VP International Relations and HR Worldwide at YPF S.A (Argentina), and in various executive positions for companies such as Maxus Energy Corporation (USA), Schlumberger Limited, (USA, Indonesia, Mexico, Argentina, France, UK, South Africa). He was also the Managing Partner for the Energy sector at Heidrick & Struggles in Madrid. Pablo speaks Spanish, English, Catalan and French. Bao & Partners is a member firm of Signium International, one of the leading executive search firms worldwide with almost 60 years of international search experience. Signium International is present through its 43 offices across the globe in 26 countries. Ignacio Bao, President of Bao & Partners, is currently the Chairman. Signium International as a founding firm of the AESC (Association of Executive Search Consultants), and one of only two executive search firms to be a member of ASCRI (Spanish Association of Private Equity Entities).

www.search-consult.com For more information visit: Web: www.baopartners.es www.signium.com

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TheHare, TheTortoise

And TheSmart Money

nce upon a time… a fabled race occurred between a tortoise and a hare. Against all odds and conditions, the tortoise won. Ever since then, executive search consultants have had difficulty predicting performance. You really can predict the performance of people. Sophisticated psychological tools allow you to predict how a candidate will perform in a job. You can predict where and when that candidate will make mistakes and even predict if those mistakes will be ‘errors of consequence’, i.e. costly. Of course, you’re already probably doing a good job of evaluating candidates. The basic flaw—though not fatal—is that the standard process of evaluating candidates is non-scientific, time consuming, protracted and based heavily on personal intuition and interactions. That’s risky. But adding a little psychology into the mix lowers your risk while enhancing both the speed and accuracy of your evaluation process. That’s how you lift your search practice from mundane to remarkable, from good to great. Predicting performance isn’t mystical or magical; it’s psychological. Names vary: psych testing, personality profiling, psychological assessment, etc., but the accurate term is psychometrics. Psychometric means ‘measuring mental processes’ and it’s in the same category as spreadsheets, financial

Dr. Duff Watkins

models, , return on investment and discounted cash flow—all are standardized measures used to predict performance. Psychometric assessments just predict the performance of people. They reduce risk simply by increasing predictability. Actually, a psychometric assessment is just a highly condensed interview. It’s like a photograph: an accurate representation of a person. Its chief limitation is that it’s a snapshot, not a feature length film. But even an old photograph reveals the person, as do psychometrics. In 23 years as a search consultant I have used psychometrics routinely. Here’s what I’ve learned. RELAX! Psychometrics will never replace executive search, so don’t worry; you’ll always have a job. But make your job easier by applying commercial instruments that quickly, efficiently and scientifically assess the risk of your investment: your candidates. WORK FOR FREE? Want to work for free? You will be if you have to re-do your searches. Executive search is difficult enough without making it riskier. It’s far better to gather as much information as possible about candidates before presenting them, shortlisting them, or recommending them to clients. The average cost of a bad hiring decision for a company is $380,000 (AUD)/

$343,000 (US)/ €256,000 / £231,000 so clients may not soon forget your errors. ADAGIO OR CHORUS? Speaking of errors, nobody’s perfect. We all err. But would you rather perform an early adagio with psychometrics in order to prevent errors or sing a chorus of ‘mea culpa’ at the end when errors appear? (Hint: clients applaud the former, not the latter.) Candidates are not always who they appear to be - indeed, who is? Our Cornerstone assessments specifically differentiate the ‘real’ person from their projected ‘image’, but many other psychological tools also delineate the less visible, private aspects of a person. Since both the private and public parts of a candidate occupy a job, it’s wise to learn about both; especially if it optimises your chances of completing a search successfully. THE SURGEON, NOT THE SCALPEL It’s the skill of the surgeon, not the sharpness of the scalpel that determines the success of the surgery. Likewise, it’s not the psychological tool that matters as much as the competence of the search consultant using it. The skill of the consultant will always determine the success of a search. Researchers find candidates, but only you can recommend them. That’s why clients pay you. It’s why they need you. Still, even the best of surgeons requires good tools of trade. ISSUE 38 2010 search-consult

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In sum, psychometric assessments pay off for you and your client, in the short and long term.

FRONT OFFICE, NOT BACK ROOM Psychometrics is a back room task that produces a front office result. That’s why you don’t want to segregate it or offload it to a trainee psychologist working in a background role. It’s not for green graduates or organisational psychologists; it’s for experienced consultants. Back room roles may interpret the psychological data but the search consultant turns in it into commercially useful information for the client. Commercial experience is necessary to understand the significance of assessment results. FASTER, NOT SLOWER Business across the globe is speeding up, not slowing down. Business processes are getting faster, not slower. Executive search is no exception. If you’re using oldfashioned, time-bogged methods you’re getting left behind by speedier, updated competitors. INCREASING, NOT DECREASING International trends indicate that usage of psychometric assessments is increasing, not decreasing. Why? Because it does exactly what it purports to do: provides information by which you can predict a person’s performance. So if you’re not supplementing your executive search work with psychometrics, you are joining the minority. WHAT’S IN IT FOR YOU? The three benefits to you for using psychometrics are: 1. Speed: Assessments are compacted interviews. Given enough time, questions and sessions you might dredge up the same information that is captured by a psychometric assessment. But you won’t do it as quickly. As business becomes rapider, so must your searches. 2. Accuracy: Assessments succeed because they measure things that don’t change. Personality is stable after age 6, cognitive abilities are largely inherited, interpersonal styles are habitual and even your capacity for

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TOO GOOD TO BE TRUE? Here’s the catch: psychometrics predict performance accurately, but not perfectly. It isn’t foolproof, but there is strong scientific evidence that it adds incremental power to your search process. Sometimes the tortoise beats the hare. But smart money always rides on the hare.

By Dr. Duff Watkins

happiness is mostly genetic. These traits and characteristics are easily measured, and that’s why assessments are so accurate. Since these traits and characteristics are the basis on which your candidates succeed or fail, it’s astute to measure them. 3. Cost-efficiency: It’s simple math. A poorly performing senior executive costs an employer four times their total remuneration package. Assessments cost a small fraction of that. It’s the quickest, cheapest way to prevent errors in executive search. BUT, DOES IT PAY OFF IN DOLLARS? Let us count the ways. A review of 25 studies conducted by Profiles International quantified the commercial benefits of psychometrics: • average return on investment was $26.30 for every $1 invested; • average reduction in early failure rate was 46%; • average reduction in employee turnover was 47%; • average reduction in employee turnover in Sales was 71%; • where used within the sales team, sales increased in all cases; • average reduction in employee turnover was 60% and ROI was $33.33 for every $1 invested.

THE HARE & TORTOISE (….85 YEARS LATER) Some executive search consultants argue that psychological testing has little validation. That’s like saying gravity has little validation. HERE ARE THE FACTS: Psychometric assessments are 4 times more accurate than interviews when it comes to predicting a person’s success at work. Here’s proof: More than 231 studies1 in both the USA and Europe, over 85 years, confirm that psychometric assessments consistently predict job performance extremely well: • for men and women in all types of jobs; • better for management than nonmanagement roles; • for both the first few weeks of employment and up to 5 years later (the longest study ever done). Here’s the catch: psychometrics predict performance accurately, but not perfectly. Sometimes the tortoise beats the hare. But smart money always rides on the hare. Duff Watkins dw@execsearch.com.au) runs the Sydney office of the Cornerstone International Group a consortium of 100+ executive search firm positioned across the globe. His doctorate is in psychotherapy and he lives and works in Sydney and Sao Paulo.

www.search-consult.com For more information visit: Web: www.execsearch.com.au

The workshops are delivered by Francesca Lahiguera, a search professional with more than 12 years’ experience of retained executive search research and execution. Francesca was a Principal at Heidrick & Struggles in Paris and went on to work with boutique firms in Paris and London. She now provides research and search consultancy to London-based firms specialising in technology and not-for-profit. Originally from the USA, Francesca lives in London and speaks fluent French.

Research and Candidate Development Workshop London, UK - September 22, 2010

Research and Candidate Development Workshop - this one-day workshop is for researchers and for search consultants who are new to search. The three themes covered during the day are research skills, telephone techniques and administration and project management.

Search Execution and Client Management Workshop London, UK - September 23, 2010

Search Execution and Client Management Workshop - this one-day workshop is for search consultants and researchers involved in the search execution process. The course focuses on effective and successful client management and liaison, progress reporting, candidate screening and appraisals, referencing and salary negotiation.

• Maximum 16 attendees per workshop. • A working lunch and refreshments are included. • Training material will be provided.

For more information and to book, please visit www.search-consult.com/workshops or send an email to events@search-consult.com

So that’s exactly where we ﬂy. 250 cities. 40 countries. Book now on AA.com.

AmericanAirlines, We know why you ﬂy and AA.com are marks of American Airlines, Inc. oneworld is a mark of the oneworld Alliance, LLC.