search-consult Issue 28

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2006 / ISSUE 28

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The International Executive Search Magazine Published by Dillistone Systems

The Largest Search Firms in the World 2006 Strategy: Why it Takes a Village to Recruit a new CEO Joseph Daniel McCool Speaks at the Executive Search Practitioner Conference in London Limited places still available – more details inside

Market Review: Executive Search in France Coming of Age: Certification of the Search Profession

COMING UP IN FUTURE ISSUES:

www.search-consult.com Executive Search in India

HR Interview

Edward W Kelley Discusses the Future

Executives Online

SUBSCRIBE ON-LINE

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The Largest Search Firms …

• The Hunt-Scanlon Global 25 Search Firms1 between them use FILEFINDER in over 100 locations • The two largest international Executive Search networks, based on the search-consult list2, use FILEFINDER in 25 locations.

The Most Efficient Search Firms …

• The Kennedy Information ERN Top 20 US Search Firm3 with the highest revenue per Partner / Consultant relies on FILEFINDER.

The Highest Regarded Search Firms …

• 3 of the Top 5 Search Firms in Japan use FILEFINDER4 • 3 of the Top 4 Search Firms in Asia (excluding Japan) use FILEFINDER5

The Most Search Firms …

• 8 out of the Top 10 Small Search Firms in the UK, as defined by The Grapevine Magazine6, use FILEFINDER • Each of the search-consult Top 5 Search Firms in Europe2 use FILEFINDER in at least one country.

• 100s of Search Firms in 47 countries across the world use FILEFINDER

...Use FILEFINDER

Why would your business use anything else?

Source: 1 Hunt-Scanlon Advisors’ 17th annual recruiting industry survey, Executive Search Review, March 2006 • 2 search-consult Magazine’s The largest Search Firms in the World annual survey, September 2005 • 3 The Kennedy Information Executive Recruiter News’ annual market analysis, March 2006 • 4 Top 5 search firms in Japan refer to Asiamoney Headhunters Poll, February 2006, P49 • 5 Top 4 search firms in Asia (excluding Japan) refer to Asiamoney Headhunters Poll, February 2006, P48 • 6 Executive Grapevine market share survey 2004 – 2005, The Grapevine Magazine, October 2005

To find out how your business can benefit, book your FREE demonstration TODAY! USA: +1 (201) 653-0013 UK: +44 (0)20 7749 6100 Germany: +49 (0)69 27 40 15 807 Australia/Asia: +61 2 9006 1194 Other Europe: +44 (0)20 7749 6100 sales@dillistone.com www.dillistone.com U S A

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G E R M A N Y

A U S T R A L I A

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search-consult 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

search-consult.com Third Floor, 50-52 Paul Street, London, EC2A 4LB, United Kingdom Tel: +44 (0)20 7749 6102 Fax: +44 (0)20 7729 6108 www.search-consult.com

For manuscript/ photographic submissions, please e-mail our Editorial department or write to the address above to obtain author/ photographic guidelines.

search-consult is published by Dillistone Systems Ltd, Third Floor, 50-52 Paul Street, London, EC2A 4LB, United Kingdom and printed by Mr. Bloom Ltd, Sopot, Poland, www.mrbloom.com.pl.

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.

© Copyrights 2006 Dillistone Systems Ltd

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Executive Search Events 2006 IRC Recruitment Board Conference Boyden 60th Anniversary Celebration IESF Global Conference ER Expo Boyden EMEA Conference World Search Group Annual General Meeting

SEPTEMBER: 4-5 7 6-9 12-14 14-17 20-23 OCTOBER: 4-6 10-11

IIC Partners' Annual General Meeting Executive Search Workshops “The Executive Search Practitioner” Conference 12 For more information visit www.search-consult.com/events Dillistone Systems FILEFINDER Global User Conference 13 IRC Recruitment Annual Conference 12-13 Boyden Asia/Pacific Conference 14-16 IACPR Global Conference 15-17 Hunt Scanlon Leadership Forum 18-19 Alexander Hughes Business Managers Meeting 20 Kennedy Information Executive Search Summit 26-27 Boyden Americas Conference 28-30 NOVEMBER: Stanton Chase International Partners’ Meeting 2-4 Recruiting 2006 Conference & Expo 8-9 Executive Search Workshops 9-10 Executive Search Workshops 13-14 FEBRUARY 2007: Executive Search Workshops 8-9 Executive Search Workshops 21-23 MARCH 2007: Executive Search Workshops 27-29 APRIL 2007: Executive Search Workshops 17-18

Düsseldorf, Germany London, UK Moscow, Russia Miami, FL, USA St. Petersburg, Russia Chicago, IL, USA Rio de Janeiro, Brazil London, UK London, UK

London, UK Shanghai, China Goa, India New York, NY, USA New York, NY, USA London, UK New York, NY, USA Miami, FL, USA Sydney, Australia New York, NY, USA New York, NY, USA Chicago, IL, USA San Francisco, USA Sydney, Australia Brussels, Belgium London, UK

- see FILEFINDER at this event. Tell us about your events: editorial@search-consult.com

"The Executive Search Practitioner" Conference 12 October 2006 London, UK Limited availability - book TODAY! For details and how to book turn to page 13-16 or visit www.search-consult.com/events

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Talent Acquisition and Development Worlwide

www.aims-international.net

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Identify the right talent

O

Motivate and develop talent

Copyright Š AIMS International 2006, all rights reserved.

ith a global organization of over 80 offices focused on Search and Selection, we are able to target and approach the most appropriate talent.

ur 350+ consultants provide the most appropriate HR solutions to meet your company’s business objectives; these include Assessment, Career Transition, Change Management, Climate Surveys, Coaching, Compensation & Benefits Surveys, Development Centres, HR Audit, Interim Management, Leadership Development, Performance Management, Remuneration Consulting, Succession Planning andTraining.

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Build strong relationships

e build strategic partnerships with our clients by delivering the best solution in a timely and responsive manner.

For further information, please contact AIMS Marketing and Sales at ms@aims-international.net

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TheLargest

Search Firms

in theWorld 2006 S

earch-consult is proud to present “The Largest Search Firms in the World 2006”. Overall, this year the search industry remains positive and eagerly optimistic, as revenues have continued to increase worldwide. According to the AESC’s most recent report, there has been an overall global increase of 9% in new searches.

Additionally, a year over year comparison showed that average net revenues were 13% higher this year.

As the 'War for Talent' intensifies, the need for top talent continues to increase as clients are increasingly looking to search firms to not only find them talented executives but also ensure long lasting and perfect matches.

At the same time, they are no longer just looking for local talent, but as expanding their operations globally. Therefore, they are requesting specific skills and expertise be sourced from various countries, or even globally.

Clients are requesting for search firms to be able to provide a profound understanding of the headquarters’ local business culture and legal framework as well as in each country where an office will operate, ensuring that their search provider fully comprehend the latest regional and global trends that affects their businesses. As a result, client relationships are evolving from a single transaction into more of a trusted adviser and strategic partner.

At the same time, a shortage in supply has widened the scope of choices candidates can select from as they are becoming more actively involved in the entire search process.

They are demanding quicker decisions to be made, they are thoroughly researching the prospective companies and they are

determining for themselves if the opportunity presented are compatible with their personal and professional objectives. These are exciting times for search consultants as they must work extremely hard to make meaningful interactions with both the candidate and the client, expanding their scope to be effective on an international scale.

As globalization deepens, this survey becomes paramount in identifying which firms are really going global. The objective of this annual ranking is to measure and to compare a firm’s international reach, based on the number of offices that provide retained executive search services to clients. This approach, therefore, excludes lower-level recruiters that ‘dabble’ in retained search, looser networks that provide services beyond human resources and most of the management consulting firms.

Although our primary aim is to provide a macro panorama of the number of retained executive search firms that operate on a global basis, this survey also allows us to provide a more detailed regional focus, identifying specific firms that are stronger in certain parts of the world.

The survey methodology is to ask firms to provide a breakdown of offices on this basis. search-consult then randomly checks a sample of these responses. For those firms who do not provide data, we endeavor to verify the information sourced elsewhere.

AND THE WINNER IS….

Now back to the results. A drum-roll please as we proceed to announce that the world’s largest retained executive

By Pilar Gumucio organization for 2006 is AIMS International, with a grand total of 88 offices.

Compared with last year’s ranking, AIMS International has opened up 20 new offices this year alone, with offices opening in Latvia, Germany, Brazil, Venezuela, Korea, Greater China, India and the United Arab Emirates, to name just a few. These offices have been strategically opened, depicting the firm’s strong commitment to be able to serve their clients on an international scale more effectively.

Roger M. Cater, President of AIMS International, said he was delighted that it had achieved the number one had achieved the number one position in search-consult’s global ranking. He was particularly pleased that the increase in the number of offices worldwide had directly resulted in a significant increase in the amount of crossborder business between Partners.

He added: “The challenge now is to ensure that the high level of service currently provided to clients is maintained.”

Cater also confirmed that the AIMS International Board had recently taken a strategic decision to significantly expand the organization’s activities in both North America and Asia Pacific. “This process has already started with three new Partners about to be appointed, two in the USA and one in Australia. Further appointments will be made in the USA later in 2006."

IESF and InterSearch have particularly improved their overall ranking. In last year’s ranking IESF had been 5th, with 62 offices, and today this leading network has moved up the ranks to 2nd place, with a total of 86 offices. Meanwhile, InterSearch, which was

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The Largest Executive Search Firms in the World - 2006.

NO NAME 1. AIMS 2. IESF 3. InterSearch 4. The Amrop Hever Group 5. Boyden 6= Korn/Ferry 6= EESN 7. Egon Zehnder International 8. Heidrick & Struggles 9. TRANSEARCH International 10. IIC Partners 11. Stanton Chase International 12= The Taplow Group 12= Ray & Berndtson 13= EMA Partners 13= Spencer Stuart 14. INAC 15. IMD International 16= DHR International 16= AEA International 17. IRC Recruitment 18. World Search Group 19. Russell Reynolds Associates 20. CFR Consulting Group

N AMERICA OTHER AMERICA EUROPE SE ASIA OTHER 7 11 53 11 6 6 24 28 27 1 12 9 45 11 8 10 11 42 16 3 16 6 30 19 2 22 8 24 15 3 0 0 70 1 1 13 6 28 11 3 18 7 22 11 1 10 5 32 9 2 12 6 25 14 0 14 9 20 9 2 12 7 27 7 0 9 4 33 5 2 7 10 24 6 3 18 4 19 8 1 0 3 33 6 2 2 0 28 12 0 33 1 3 3 0 0 1 31 7 1 3 0 34 1 0 11 2 15 6 2 12 2 13 8 0 0 0 31 1 0

TOTAL 88 86 85 82 73 72 72 61 59 58 57 54 53 53 50 50 44 42 40 40 38 36 35 32

TABLE 1: AIMS leads globally

ranked 12th last year, today comes in 3rd place, with 85 offices.

Korn/Ferry and Heidrick & Struggles - in revenue terms usually found contending for the top slot - are in 6th and 8th place respectively. Egon Zehnder has maintained 7th position while Spencer Stuart has dropped a place to 11th this year. Russell Reynolds has dropped three places to 19th position.

These results are suggesting that the ‘Big 5 Global Search Firms’ by revenue are not necessarily those with the largest spread of offices. The networks are demonstrating truly global reach on this criteria.

TOP RANKS FOR THE AMERICAS In North America (which entails Canada and the United States) DHR International remains the largest search firm, with offices in 33 locations.

"After realizing revenue and net income growth in 2005, we feel that the firm is positioned for even greater results in 2006," stated David Hoffmann, Chairman and CEO of DHR. "We continue to expand our presence in the US and internationally with some of the most talented search consultants in the world in order to meet the increasing demands of our clients. By adding consultants like Gayle Mattson to run our CEO and Board Services practice group, we have increased both our visibility in the marketplace and the number of premier searches with Fortune 500 companies.”

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When asked about the firm’s growth prospects, David Hoffman said: “We strongly feel that the best growth prospects for DHR over the next several years will be the strengthening of our positioning in the US combined with the continued development of our international presence in Europe, Asia and Latin America. " He added: "We very much hope to change the US-centric perception of our firm and we are working diligently to do so. In the past 24 months, we have opened seven whollyowned international locations in order to better serve our clients. Our strategic growth plans call for the continued expansion of DHR into new and emerging international locations over the next 24 to 36 months. We hope to double our current international coverage within the aforementioned timeframe through organic and acquisitive growth."

Following DHR is Korn/Ferry, with 22 offices. Spencer Stuart has moved up the survey to tie with Heidrick & Struggles for 3rd place, both having 18 offices. Boyden has moved up a place to 4th position boasting 16 offices in this region, while Stanton Chase International is 5th and has 14 offices in North America.

The top spot in Other America, which consists of offices based in Central and South America, goes to IESF (International Executive Search Federation), with 24 offices.

IESF Joint President, Andrew Walker, who is based in London, comments: "We are delighted to see IESF leading the field in Other America through its wide spread of partner offices. Our development policy two years ago was specifically designed to grow IESF coverage in the BRIC group of countries with local professionals. Our next step is to use these as hubs for further growth in surrounding countries, providing us with further local knowledge and global reach.

Not only does this enable our clients to extend their operations, but also gives us access to the real management talent that exists in the developing world."

The Amrop Hever Group, who had previously held this top slot for two consecutive years, now ties with AIMS International for 2nd place, both having 11 offices. EMA Partners takes 3rd place, with 10 offices in this region. InterSearch and Stanton Chase International tie for the 4th position, both having 9 offices. Korn/Ferry takes 5th place, with 8 offices in this category.

Networks and global firms continue to fiercely compete in North and South America, as the winners have proven that opening strategic offices here, coupled with hiring top quality consultants, is providing them an edge.

EUROPE’S TOP SPOT EESN (European Executive Search Network) takes the top spot in Europe, with a total of 70 offices. The name itself hints at where this organization’s strengths are. This leading network boasts a first-rate reputation that is based on local boutiques cooperating together under a trustworthy brand, partnering with clients so that they are able to succeed in their local environment as well as in every country that they expand their businesses.

Sebastian Steinbach , Chairman of EESN, comments: "Size does matter: With every consultant we increase the market knowledge within Europe, and can deliver a better service to our customers. There are no 'white spots' on our European map, which enables us to advice very profoundly on each recruitment challenge. But we are still a young organization. Transnational projects still only account for about 10% of the total volume of EESN. Our growth potential is

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Leading Executive Search Firms in Respective Regions.

NO NAME 1. DHR International 2. Korn/Ferry 3= Heidrick & Struggles 3= Spencer Stuart 4. Boyden 5. Stanton Chase International

N AMERICA OTHER AMERICA EUROPE SE ASIA OTHER 33 1 3 3 0 22 8 24 15 3 18 7 22 11 1 18 4 19 8 1 16 6 30 19 2 14 9 19 8 1

TOTAL 40 72 59 50 73 51

Table 2: DHR International leads in North America NO NAME 1. IESF 2= AIMS 2= The Amrop Hever Group 3. EMA Partners 4= InterSearch 4= Stanton Chase International 5. Korn/Ferry

N AMERICA OTHER AMERICA EUROPE SE ASIA OTHER 6 24 28 27 1 7 11 53 11 6 10 11 42 16 3 7 10 24 6 3 12 9 45 11 8 14 9 19 8 1 22 8 24 15 3

TOTAL 86 88 82 50 85 51 72

Table 3: The IESF leads in Central & South America NO NAME 1. EESN 2. AIMS 3. InterSearch 4. The Amrop Hever Group 5. IRC Recruitment

N AMERICA OTHER AMERICA EUROPE SE ASIA OTHER 0 0 70 1 1 7 11 53 11 6 12 9 45 11 8 10 11 42 16 3 3 0 34 1 0

TOTAL 72 88 85 82 38

Table 4: EESN leads in Europe NO NAME 1. IESF 2. Boyden 3. The Amrop Hever Group 4. Korn/Ferry 5. IIC Partners

N AMERICA OTHER AMERICA EUROPE SE ASIA OTHER 6 24 28 27 1 16 6 30 19 2 10 11 42 16 3 22 8 24 15 3 12 6 25 14 0

TOTAL 86 73 82 72 57

Table 5: IESF leads in the Asia Pacific region

connected to a rising percentage of these projects - this leading position in size is only the precondition to increasingly winning market shares. If you think about recruiting somewhere in Europe (or China) - think EESN." Following EESN is AIMS, who moves up a place from last year’s ranking to take 2nd place with 53 offices. InterSearch, with 45 offices, takes third place. The Amrop Hever Group drops down a place to 4th, having 42 offices. IRC Recruitment takes 5th place, with a total of 34 offices in Europe.

In previous years, Europe focused on Western Europe. As Eastern Europe grows more competitive, many businesses are opening offices there as search firms are mirroring their clients and setting up offices there as well. This is definitely a trend that will continue, as we wait to see which search firms can continue to be strong here.

1ST PLACE IN ASIA PACIFIC IESF, once again, takes 1st place in South East Asia, which entails the countries that make up Asia Pacific, boasting 27 offices in

this region. This prominent network is strongly committed to the principle of one member firm per country, allowing the IESF to service their international clients with the utmost professionalism while avoiding conflicts of interest that may otherwise arise.

IESF Joint President, Mark Geary, who is based in Hong Kong, comments: "The IESF is delighted to learn that it is confirmed again as the No. 1 executive search and selection partnership in Asia Pacific and No. 2 globally by search-consult."

He added: "What has spurred the growth in IESF partner firms is our wide geographic coverage, which has encouraged leading country-based executive search firms to want to join IESF as they can see it is sincere about working with developing countries and these new partners will not lose their identity in one of the corporatized groups. We have also found that our clients are wanting a single provider of recruitment services in those regions of the world that are developing most rapidly - China, India, Russia, Eastern Europe and South America."

Following IESF is Boyden, who moves up

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the ranks three positions from last year, to take 2nd place with 19 offices. The Amrop Hever Group and Korn/Ferry remain in 3rd and 4th place, with 16 and 15 offices respectively. IIC Partners takes 5th place with 15 offices in South East Asia.

This region continues to attract foreign investment and businesses, as a few of the top emerging markets can be found here.

The shortage of top talent in this region has intensified the ‘War for Talent’, as search firms must compete fiercely to attract and attain outstanding executives for their clients, aggressively sourcing local and international candidates.

At the same time, these same sets of challenges can be found on a global scale as the results of the “Largest Search Firms in the World” depicts how dynamic and proliferated executive search really is.

This survey has clearly identified that for 2006, once again, the networks are demonstrating their global reach, based on the total amount of offices that provide retained executive search. The fact that networks can upscale more quickly, adding existing reputable and local businesses, is definitely an important factor that comes into play.

Another interesting point to highlight is that no firm this year appeared on all four of the regional rankings, depicting how diversified and competitive each region really is. The Amrop Hever Group and Korn/Ferry came closest, appearing within the three of the four regional surveys.

As competition continues to heat up firms must analyze how to best service their clients, especially on an international scale. The options are endless. What is definite is that - just like this year’s results - many changes will take place as the search industry continues to be vibrant.

Can the top firms consolidate their place for another year? We will have to wait and see. In the meantime, congratulations to all the firms that have appeared within this year’s top rankings, showing their regional and/or global edge. www.search-consult.com For more information visit: Web: www.search-consult.com

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Why ItTakes

aa

Village To Recruit New CEO

ar too many multinational organizations leave the recruitment of a new CEO – and, for that matter, most key executive hires – solely in the hands of an executive search consultant.

That’s a big mistake, for a lot of reasons.

First, consider the investment your company is making. Executive search consultants don’t come cheap, nor should they. While legions of human resource professionals may protest about how an executive search may skew the organization's “cost-per-hire,” remember that when you’re recruiting for executive leadership, you’re recruiting for value creation. The best executive recruiters can detail the financial performance of client organizations after they’ve placed a new executive, and especially in the case of a new CEO hire, millions or, yes, even billions worth of increased shareholder value over that executive’s tenure can make the executive search fee seem, in retrospect, rather paltry.

The executive search consultant will undoubtedly render an informed, marketoriented opinion on the job specifications and requirements for your next executive hire. But the task of benchmarking your organization’s remuneration policies, and, at least on a one-off basis for this anticipated executive hire, an executive compensation consultant should be engaged to help your

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organization create an attractive pay and benefits package, and calibrate the advice of the executive recruiter. A well-planned enticement package will help separate a talented candidate from the anxiety they – or their spouse and/or children – may be feeling about leaving the comfort of their current high-paying job and current social environment.

Once you’ve started leaning toward the selection of an external candidate to fill your organization's vacant or newly created executive-level post should come the job of engaging a handful of external advisors who can help you judge the candidate’s “fitness” for the job.

Enter the professional employment background-screening consultant. However well qualified to conduct the executive search assignment, executive search consultants are generally not paid for, nor should be relied upon, to produce a detailed report on an executive-level job candidate’s background that would pass most “due diligence” litmus tests, including a detailed report on a candidate’s credit history, educational credentials, employment history, and criminal record, if there is one.

The failure to thoroughly screen and otherwise substantiate a candidate’s own claims, or the truthfulness of stories that have contributed to their 'reputation', has led to embarrassment and ruin for many

by Joseph Daniel McCool companies and CEOs around the world.

Before you (and more importantly, the media and financial analysts) find out a key executive you hired “invented” his or her advanced degrees from Oxford, Harvard, or INSEAD or failed to pay child support or filed for personal bankruptcy on several occasions or was convicted of a crime, consult with an expert in employmentbackground screening, many of whom themselves have backgrounds in law enforcement. Enough said.

Once you’ve established exactly who your favoured candidate really is, it’s time to call the employment lawyer. The truth of the matter is that your organization needs expert counsel relating to the disengagement of your favoured candidate from any noncompete agreement, non-solicitation agreement or other restrictive covenant they may have signed with their current employer.

The candidate may also need to be coached about the best wording of a resignation letter, the files they can and cannot legally take with them to your premises, and the legal obligations of their former employer after they announce their departure to your organization.

An often-overlooked perspective that may be equally critical in the recruitment of an executive from outside your current Organization Chart is that of the medical doctor. The value of a complete medical

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report on an executive job candidate’s physical fitness, especially given the rigors of life for a 21st Century CEO or other strategy-minded leaders, should not be overlooked. An externally recruited executive’s health is, in part, an important factor because of the failure of many European organizations to develop a coherent leadership succession plan. In this regard, European multinationals share a common problem, and one that could be remedied if only more boards of directors and sitting CEOs devote the resources to put such a plan in place. Will your organization be prepared if the CEO dies suddenly of a heart attack?

Last, but certainly not the least of these valuable outside advisors is the executive on-boarding consultant. Typically experienced in the fields of psychological assessment, market research, executive coaching, and/or organizational development, these consultants also bring a valuable, outside perspective to the external recruitment of a talented executive.

When I was interviewed recently by The Times of London, I described the support and feedback that comes from executive on-boarding as perhaps the best single insurance policy on an external search for world-class executive talent.

A widely circulated report from the Harvard Business Review found that two in every five new executive hires fail within 18 months of assuming the job. So who to blame? The executive search consultant makes an easy scapegoat, for sure. So too does the executive who “failed,” and who most often feels the stabbing though often uninformed rebuke of the media as well as disgruntled shareholders. But what of the organization's failure to help integrate the externally recruited executive?

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Joseph Daniel McCool

I continue to be amazed at the vast majority of organizations in Europe and around the world that fail to provide a form of transition assistance so that the newcomer executive is smoothly introduced to the organization's underrated cultural climate and its undocumented but very real structure of social diplomacy (internal politics). That is, stated more succinctly, a process of introducing the new executive to “the way we do things around here.”

An executive hired to be an agent of significant change and perhaps one whose mandate is to orchestrate a cultural transformation of the organization must fully understand its current organizational identity – from inside and outside points of view in order to conceptualize, evangelize and execute the move toward a new strategic destination.

On-boarding provides the recently hired executive valuable feedback about their performance during their first 90 or 100 days on the job from a variety of constituencies,

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perhaps including the board, the CEO, key shareholders, lateral peers and subordinates.

The intent is to provide the executive with actionable information to gauge the organization's early read on his or her management style, rectify any problems or misconceptions about their intentions and priorities, and otherwise accelerate progress on strategic goals that are aligned to the interests of the board, the CEO and other key stakeholders.

The business of hiring at the executive level is serious business. Getting it right costs much less than getting it wrong.

Partnering with executive search consultants is part of the solution, as is developing executive talent from within, and realizing that, even under the best of circumstances, the best strategy for hiring the right executive at the right time requires a team of specialist consultants, each adding valuable perspective to the process. That’s why, when it comes to making critical leadership decisions, it really does take a village.

Joseph Daniel McCool is an internationally respected writer, speaker and independent consultant on executive recruiting and corporate management succession best practices. He is also a senior contributing editor for ExecuNet, the leading executive networking community, and its RecruitSmart Insider, and is currently writing a book on the business of leadership recruiting and succession.

Mr. McCool is the former longtime editor of Kennedy’s Executive Recruiter News and The International Directory of Executive Recruiters, and remains a much sought-after event speaker, having presented to the American and European conferences of the AESC and other search firm meetings around the world. He will be present at SearchConsult’s inaugural Executive Search Practitioner Conference in London on October 12. Mr. McCool can be reached in the United States at 603-532-4143, and via e-mail at jdmccool@adelphia.net .

www.search-consult.com For more information contact: Email: jdmccool@adelphia.net

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Cartesis:

“Executive Search

is

theOnly

Often Way to Attain

World-Class Talent”

By Pilar Gumucio lobalization means strong and fierce competition. This means that companies, especially small sized firms, must move forward alongside their customers and partners to be global players, attracting and retaining world-class talent.

Cartesis is a perfect example. Founded in 1990, this company is the largest Business Performance Management software specialist in the world, providing trusted solutions for driving Global 2000 companies’ financial and business performance. It has more than 1,300 corporate customers and partners in 44 countries worldwide, growing 25% annually for the past six years.

In fact, one in four Fortune Global 100 companies rely on Cartesis’ deep financial expertise and standard-based technology for compliance, financial consolidation, management reporting, planning, budgeting, forecasting, and intercompany reconciliation across multiple geographies and business segments.

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A SMALL FIRM THAT CATERS TO GIANTS This prominent firm’s offerings are of tremendous value to a wide range of top customers and partners. Yet Cartesis is still

considered a small sized company because it only has 600 employees and operates in 8 countries.

“Cartesis is a small firm that caters to the needs of giant companies,” says Philippe Alloing, the firm’s Head of Human Resources & Internal Communication.

As a result, executive search is instrumental for the company to attain and retain top quality talent. Cartesis requires

Philippe Alloing

“A” players that have functional excellence in Finance. This means that they have to be able to compete to attract first-rate executives, searching an extremely specialized niche talent pool.

“This pitches us against all the key players in Finance, such as auditors, specialized consultancies as well as our own clients to attract and retain top quality talent,” reports Alloing.

“Therefore, we require people with a high degree of maturity and experience, and that is hard to find in companies this small,” he states.

According to the HR executive of Cartesis, “Executive search is often the only way to approach the staff we need, and then to hook them with our story and strategy.”

TURNING A NEGATIVE INTO A POSITIVE Alloing admits that the main drawbacks for some candidates are the limited size of the company and the fact that Cartesis is headquartered in Paris.

This is the main reason why Cartesis prefers to commission a search so that the consultant can present these potential challenges as advantages, attracting only

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those top-level executives that would perceive them as such.

He remembers that when the current management took over Cartesis early in 2004, the company lacked the appropriate managerial talents and only had a few raw talents to develop.

“Despite this, we have an unwavering internal mobility policy which has allowed us to staff approximately 50% of the key jobs with internal candidates. This, coupled with intensive training, remains our primary development tool,” notes Alloing.

The first task was to build the executive team with world-class professionals who were acclaimed in their respective fields.

“We used them as magnets for ambitious younger people,” he states.

Since then, Cartesis has continued to attract and retain its most senior positions by utilizing executive search and its network of referrals as the primary means of executive recruitment.

SELECTING THE RIGHT SEARCH PROVIDER Cartesis has had to be very selective when choosing an executive search partner.

Alloing reports that the main criteria he uses to select search firms are their industry expertise, completion rates and being “business savvy”.

The off-limits policy is also fundamental.

The Head of Human Resources & Internal Communication for Cartesis explains that the executives the company is looking to attract are already in limited supply. The off-limits policy of a search firm can further restrict the search, which ultimately hinders their ability to obtain the best candidate for that role.

He recalls: “At some stage I was looking for an EVP and the entire potential talent pool, based on the definition we made, consisted of 20 candidates worldwide. We didn’t want to sign up a search firm that would avoid approaching 6 or 7 of these candidates because they worked with those executives’ firms in the last few months.”

As a result, Alloing prefers to “work competitively for the difficult jobs with a reputable niche boutique.” He clarifies that the boutiques Cartesis works with are not local. “They must have research capabilities

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covering several countries, often several continents.”

Alloing explains that another reason he prefers boutiques is because these firms provide his company with a real partnership, tailoring their services to fit his firm’s needs.

As a client, he wants to deal directly with the owners of the firm. “It is easier to keep them directly abreast with what is going on and where we want the search to go.”

Furthermore, he doesn’t have to wonder if the consultant he has grown accustomed to dealing with has decided to move on to another firm. He doesn’t have to worry “where the next conversion of the political game will leave” his company.

In addition, Alloing is confident that the service he receives is top quality since the firm’s reputation is based solely on the quality of its managing consultants, providing his firm with a trustworthy partner that will provide Cartesis with real added value.

He elaborates: “My boss thought we should really look at people that might be available from our main competitor in the US. The search provider told me not to bother since the company was constantly changing its people and would be in disarray for the next few years. As a result, it would be unlikely that we would find someone up to our standards and that would make a good fit with what we were looking for”.

Instead of just providing Cartesis with a comprehensive short list, the search consultant supplied them with invaluable intelligence that, through their industry contacts, they were able to later confirm.

This is the type of added value that clients are increasingly expecting from their search providers.

WHAT IS EXPECTED? “We are a small firm and the highest cost of a search is the management time my colleagues and I have to spend on that job rather than on something else,” explains Alloing.

Since the HR executive of Cartesis does not have the luxury to hold the search provider's hand throughout the entire process, it is vital that he have complete

confidence in his search providers, making sure that they supply him a weekly written report and talk to him if the need arises.

More importantly, Alloing expects his search providers to only send him a shortlist of proven candidates to interview and assess, after having vetted them thoroughly.

He reports how the search providers he works with will perform “structured interviews, reference checks and anything else they think is necessary to assess which is the right candidate for the post. Then, I will get as many of my colleagues to conduct structured interviews to assess which one has the best fit.”

Partnering with niche boutiques has been productive for Cartesis, as Alloing believes that small can often be more effective. As small companies continue to compete with larger firms on a global scale, executive search is becoming an invaluable tool that can help these companies attain world-class talent.

According to Alloing, what counts is being able to deliver a “shortlist of proven candidates”, without having to worry that the search firm’s “no-go areas” are impeding your firm from reaching the best candidate for the job. The ones that can continue to do so will succeed, as they continue to adapt to today’s current dynamics.

In his position as Head of Human Resources & Internal Communication, Philippe Alloing plays a pivotal role as Cartesis accelerates its development towards leadership of the global Business Performance Management market.

Philippe joined Cartesis after spending the last four years as "VP People Organization" for Novell Europe, Africa and the Middle East where he was responsible for the management of the people function, organizational development & governance, knowledge management and training. In addition he has also held senior management roles at BP Nutrition where he led the worldwide HR function, at Carnaud Metal Box where he was in charge of HR and a member of the Group Executive Committee, and at Arthur D Little, where he grew the European HR function in a fast growing consultancy environment.

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

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Executive Search

Practitioner

Conference

HMS President, Victoria Embankment, London, 12 October 2006 Bookings already received from North and South America, the Middle East, Australasia, East and West Europe - Book now while places remain!

Sponsors:

www.search-consult.com SUBSCRIBE ON-LINE

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The Global Executive Search industry is no longer purely the US, Germany and the UK. Today, retained executive search services are provided in at least 47 countries worldwide – and by an estimated 11,000 firms, small and large.

A global industry needs a global event; an event where practitioners from around the World can meet, learn about trends and new concepts in Search.

The Executive Search Practitioner is that event. A packed day focussing on three specific themes – Global Trends in the Search Market; Operational Issues in running a successful Search business, and Implementing Global Assignments.

Christopher Beale is Founder of Christopher Beale Associates; a well regarded UK Search Firm. From 2001-2006 Christopher was also Chairman of the Institute of Directors – the UK’s Professional Body of Business Leaders.

Nancy Garrison-Jenn, Author of The Economist Intelligence Unit Books on the Search Industry.

In addition to her writing, Nancy consults for groups such as AIG, Chanel, Coca-Cola, Diageo, Estée Lauder, Goldman Sachs, KAO, KPMG, LVMH, Philips, Viacom on how to use Search firms.

Joseph Daniel McCool is an internationally respected writer, speaker and independent consultant on executive recruiting and corporate management succession. He is also a senior contributing editor for ExecuNet and is currently writing a book on the business of leadership recruiting and succession. Mr. McCool is the former longtime editor of Kennedy’s Executive Recruiter News and The International Directory of Executive Recruiters, and a much soughtafter speaker, having presented to the American and European conferences of the AESC and other search firm meetings around the world.

Simon Stephenson is President of Stephenson Research Associates, which specialisys in senior level executive research, and also Co-Chair of the Executive Research Association – Europe’s leading professional association for Researchers. He has also developed a training team which provides research development for a variety of in-house and independent researchers and consultants.

He has written widely about the research process and the future direction of the industry.

Helen Haddon, Director of Quality and Process, Odgers Ray & Berndtson Helen has worked in the Executive Search industry for 9 years. Since January 2005 she has been responsible for Quality at Odgers Ray & Berndtson. Prior to this she was Head of Global Information Management and Support at Egon Zehnder International.

Caroline Mills, European Research Co-ordinator, Edward W Kelley & Partners Caroline joined Edward W Kelley & Partners at the beginning of 2001 having previously been with Heidrick & Struggles as Head of Information for the UK and latterly for Europe.

Caroline acts as Data Controller for Edward W Kelley & Partners and represents the firm on the Association of Executive Search Consultants Data Protection Committee. Caroline is a winner of the H.W. Wilson prize for services to the Information Industry.

Christopher Mill, Founder, Christopher Mill & Partners / Penrhyn International. A winner of the Gardner Heidrick Award for outstanding contribution to the profession and former Chair of the International Committee of the AESC, Christopher is recognized for the International nature of his work. He has filled positions throughout Europe, in Asia, in North America, Australia and in Africa and rarely undertakes a single country assignment.

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Conference Agenda 8.30

REGISTRATION

9.00

Welcome

STATE OF THE INDUSTRY

State of the Industry Christopher Beale, Founder of Christopher Beale Associates Christopher will track the industry - on both sides of the Atlantic, from its early beginnings up to the present time. Search firms all confront the challenges faced by business at the outset of the 21st Century - challenges which develop with increasing rapidity and which bear little relation to those of a decade past. He will pose some, perhaps uncomfortable questions, as he holds a mirror to the world of Executive Search and asks the industry to reflect upon the degree to which it is truly proactive; whether its much vaunted client focus really does stand up against self interest and whether the Search practitioners of today pay any heed to a history, sometimes less than glorious, that may be irrelevant - or on the other hand, just as likely to repeat itself.

Global Trends in Executive Search Nancy Garrison-Jenn, Author of The Economist Intelligence Unit Books on the Search Industry Nancy’s wide ranging presentation will cover all aspects of the industry – from the key players and the key markets, through the importance of branding and marketing, opportunities for diversification and offshoring all the way to consistency of standards and training within the industry. This presentation will be followed up by a questions and answers session which will provide delegates with the rare opportunity to discuss the industry with an impartial and unbiased, expert observer.

BREAK Networking and visit to sponsors

OPERATIONAL ISSUES

The End of Executive Recruitment As We Know It Joseph Daniel McCool, Senior Editor, ExecuNet The business of executive search consulting has changed little since its birth within some of the world’s top management consulting firms more than 80 years ago. Today, the demands of corporate leadership are at an all-time high, while executive tenure has hit a record low. Those are just two of the market dynamics that should move retained search firms to adapt to shifting client priorities, elevate their performance, and convert more senior management candidates into clients. Join the world’s leading analyst of the global executive search business and its role in leadership succession for a provocative look at what your search firm must do to remain relevant and reinvent both the client and candidate experience.

The Search Value Chain Simon Stephenson, President of Stephenson Research Associates and Co-Chair of the Executive Research Association Simon will talk us through the Search value chain and will discuss how Search firms create value for clients. He will then go on to discuss how this value chain can be broken up – and the opportunities that this can create for both the Client and the Search Firm.

Sponsor Presentation FILEFINDER from Dillistone Systems Quality in Search Helen Haddon, Director of Quality and Process, Odgers Ray & Berndtson Helen believes that quality in the Search process is achieved by design, not accident. Whether you are a small or large organization, there is no doubt that having a well managed and maintained database is a key tool. However to achieve a consistently high-level of quality across your business, quality needs to be built into all your processes and dealings with candidates, sources and clients.

This presentation will explore at the key links in the quality chain with the goal of helping you identify your weakest link.

LUNCH Networking and visit to sponsors

GLOBAL SEARCH

Legal and Ethical Issues in Global Search Caroline Mills, European Research Co-ordinator, Edward W Kelley & Partners Caroline will cover the legal and ethical issues involved in undertaking international assignments. Her session will cover issues such as candidate rights, confidentiality issues, reference checking and discrimination – this highly interactive presentation will provide delegates with a practical overview of what you can and can not do and say in different markets.

Global Search - Practicalities of Working Internationally Christopher Mill, Founder, Christopher Mill & Partners / Penrhyn International Having completed assignments on every continent, Christopher will use practical case studies to look at the issues involved in doing a Search in another country, in another country for a client in a third country, or a global Search. He will consider the alternative approaches and discuss the benefits and pitfalls of each. Even Consultants experienced in international work will find that this casebased presentation will have a lot to offer.

16.15

Closing Remarks, Drinks Reception on Deck (weather permitting – otherwise in bar area) Networking and visit to sponsors

For up-to-minute information on the Executve Search Practitioner Conference please visit our website www.search-consult.com/events of send an email to enquiries@search-consult.com

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"The Executive Search Practitioner" Conference 12 October 2006 DELEGATE BOOKING FORM If you would like to attend the Executive Search Practitioner Conference, please complete and send this booking form accompanied by the payment to the following address: search-consult Third floor 50 – 52 Paul Street London EC2A 4LB Or if paying by credit card, please FAX it back to us on +44 (0)20 7729 6108 or +1 (201) 221-7518 Yes, I would like to attend the Executive Search Practitioner Conference - 12 Oct 2006 First Delegate @ £249 / $435 / €365 = £249 / $435 / €365 ..............................................................……. (number of people attending)

x £125 / $218 / €183 = ............................................…….

Delegate(s) name(s), job title(s) and dietary requirements: .………………………………………………………………………………………….……………............. ……………………………………………………………………………………………………………………………………………………………………………………………………………… ……………………………………………………………………………………………………………………………………………………………………………………………………………… ……………………………………………………………………………………………………………………………………………………………………………………………………………… ………………………………………………………………………………………………………………………………………………………………………………………………………………

+ VAT (17.5%) = ............................................…….

Total = .............................................…….

I am a FILEFINDER software user and would like to attend the User Conference on October 13th at no extra charge.

I enclose a cheque (made payable to: search-consult ) for the above amount.

Please charge my:

Visa

MasterCard

Card Number: .................................…..............................………….. Exp: .............…............ Security Code: ...................….........

(Last 3 digits from the signature strip)

Name: .............................................................................................................…………… Company: ...................................................................................................................................…………….

Job Title: ..............................................................................................................................................................................................................................................................................................

Address: ..............................................................................................................................................................................................................................................................................................

City/ State/ Zip: .............................................................................. Post Code: .............................................................................. Country: ..............................................................................

Phone: ........................................................................................................ E-mail: .....................................................................................................................................................................................

Signature: .............................................................................................................................................................................................................................................................................................................

PLACES ARE STRICTLY LIMITED. PLEASE NOTE THAT ONLY BOOKINGS ACCOMPANIED BY PAYMENT ARE VALID. Terms and Conditions: 1. Conference cancellations must be received in writing up to 1 September 2006 and will be subject to an administration fee of £50/$90/€70 + VAT per event.

2. We regret that conference cancellations received after this time cannot be accepted and will be liable for the full fee.

3. Conference delegate replacements can be made at any time, however we do require confirmation of the new attendee’s name for security reasons.

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Coming of Age:

Certification of theSearch Profession

By Christopher Clarke President and CEO, Boyden World Corporation

S

ixty years ago, Sid Boyden left his job as a management consultant in Chicago to establish the world’s first international executive search firm in New York. In 1946, business leaders rarely moved from one company to another. If they did, it was often the result of personal relationships rather than through a rigorous search process performed by a company. Sid Boyden decided to introduce a more systematic and professional approach. He developed processes and set standards and approaches to executive search, many of which are still used today by all search firms.

Today, Boyden global executive search boasts 73 offices in 40 countries.

Sid Boyden’s vision launched an entirely new industry, growing to more than 5,000 retained search firms around the world today.

While the size of the search industry has expanded rapidly, its evolution as a true profession has been somewhat less impressive. Despite the techniques, systems and standards originated by Sid Boyden and adopted by most large firms, today virtually anyone with a phone and a laptop can claim to be a search consultant. Many do.

In other professions ranging from law and medicine to accounting and architecture, members are required to achieve specific goals, acquire critical knowledge and demonstrate competency before joining the ranks as an accepted member. In many professions, without proper credentials, they cannot legally practice. Training and certification serve as proof to the public and regulators that each professional has the qualifications to perform specific services.

By contrast, search is at best an aspiring profession in which the definition of quality is still debated.

Caveat emptor too often substitutes for client service, and rank is determined by revenue instead of any measurable evidence of excellence. While some firms have adopted the techniques, systems and ethics originated by Boyden 60 years ago, search as an industry has not yet established the universal standards in training, knowledge, and qualifications required to become a consistently well respected profession.

If the challenge for early pioneers in the industry was to create a market for retained search services, clearly, the

challenge today is to establish search as a categorically imperative service and profession that our clients can count on to find the men and women who will collectively lead them, driving companies and economies, forward. To that end, we all have our work cut out for us.

Client companies are increasingly value savvy and quality oriented when evaluating search services and net results. Thus, they often become increasingly frustrated by an industry in which companies with only an 80 percent placement rate claim that this is good.

After all, how confident would anyone be hiring a doctor who bragged that only 20 percent of his patients died? Or an architect who boasted that 80 percent of her buildings didn’t fall down or fall short in the design department? Who would hire a professional in any field who could not or would not define his or her performance in any meaningful, measurable way? Yet that is precisely what many search firms ask their clients to do. No wonder some surveys suggest that over 50 percent of all search clients are dissatisfied with the experience. As a profession, even an aspiring one, we must do better defining quality and achieving it.

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Recruitment.

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Boyden’s growth over the past several years has required a great deal of recruiting for our own business. This process provides worrying insight into some major search firms. We have been both shocked and appalled at the lack of training and education the vast majority of firms offer their associates and consultants. It is not uncommon for a “search professional” with even three or four years of “experience” at a major global search firm to admit he or she has had no formal training whatsoever in the profession of executive search. Many had been hired for industry expertise and left to figure the rest out, as though search were an innate talent with no specific skills required. In fact, several large firms cut back their training programs as a cost-saving measure during the industry downturn earlier in the decade. Others have them; but training is offered, not required.

Apparently, like quality and other things important to clients, training is too often featured more prominently in glossy marketing materials than in actual experience. This is simply unacceptable to anyone committed to search as a profession.

The future of the search industry must be built at the intersection of quality and service, a landmark established by skilled search consultants and firms that are determined to define search as a noble profession of significant value. At Boyden we are proud of our legacy of leadership and innovation in the industry, and are committed to continuing to lead the way forward in the evolution of the search profession, by establishing a professional certification program for all Boyden associates around the world.

This new program creates the first global, uniform standard of training and skill development, and mandates that every associate achieve it.

After initial induction training, all of our new associates must complete an intensive curriculum within their first year of employment, including six online courses as well as in-person training sessions at regional conferences. The training delivers in-depth instruction in

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Chris Clarke

search methodology, candidate development and candidate assessment techniques as well as due diligence in background and reference checking.

The certification program guarantees each associate has the depth of knowledge and demonstrable skills required to execute a search successfully and professionally in keeping with Boyden’s high standards.

The program also assures both clients and colleagues that every Boyden associate anywhere in the world will apply the same proven techniques, professional approach and standardized procedures to each search. While we have multiple offices across the globe, there is only one standard of excellence, and the certification is proof that an associate has achieved it.

Boyden certification is designed to set the benchmark for professional search education, which will raise the bar beyond the currently accepted standards in the industry. It also is a guarantee clients will receive the promised net results and comprehensive care they deserve for every engagement.

In the search profession, quality cannot be a promise, it must be a guarantee. Boyden’s Quality Assurance Program is a cycle that starts with recruiting first-rate individuals with the talent and commitment required for success. We use a set of standard

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metrics to ensure all interviewers measure candidates against the same criteria. All associate candidates must interview with at least two members of our Board of Directors before an offer is extended. Once hired, the certification program ensures associates meet the challenges of the profession and needs of the clients. We also pair new associates with experienced mentors so they will learn the “real world” of search from the best of the best.

The quality assurance cycle includes ongoing feedback from both clients and candidates via a convenient online process, as well as regular assessment of measurable performance metrics.

Additionally, our Board members visit at least one third of the offices each year to ensure quality standards are achieved.

Today, clients put a premium on integrity, not just in the candidates they hire, but also in the search firms that represent them. Executives and board members in client companies are held accountable for performance. In turn, clients expect the same accountability and partnership from the search firms helping build their company ’s management team. Boyden has answered this demand with a commitment to quality and professional standards that are visible, measurable, non-negotiable and backed by the proper education and training.

We are proud to take the lead on issues that must be addressed to encourage the evolution of executive search from a loosely defined industry to a uniformly elevated profession whose members adhere to self-imposed standards and whose clients unfailingly value and trust our services. In years to come the whole industry must follow other professions with appropriate training and certification of all professionals to ensure the quality and integrity of this industry. www.search-consult.com For more information visit: Web: www.boyden.com

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The Changing Face

Search ofExecutive in France

By Eric Verney & Yvan Coquentin o understand the current face of the executive search market in France, we must consider what was on offer in the past and how it has steadily evolved in very recent times. We must also consider how the client and his requirements have changed in recent years, and how this affects the executive search firm and what they now face. In turn, we also look at how the executive search consultant has evolved. Finally, we have to look at the changing attitudes towards the executive search consultant.

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The current momentum facing the French market include a number of key issues such as: • The baby boom generation will begin to retire from this year onwards, which will have a large impact on business. There will, therefore, be a gap in company needs and a potential gap in the ability of the market to fill these needs.

• The Recruitment process itself has changed. We now have different tools, such as the Internet and networking that were not previously part of the process.

In addition, the implication of the HR role has changed considerably. HR managers are younger, have a different outlook to their predecessors and even have a more, shall we say, Anglo-Saxon outlook and methodology than the pure francophone approach. They focus more on HR development, the structure of an

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organization, and the needs of the overall company so as to meet outlined strategic plans. As a result, they are not focusing as much on the actual recruitment itself, preferring to outsource this function. Ten years from now in France all recruitment will be external. Previously we can say that 30-40% of this recruitment was through search or headhunting, this figure is now changing to a higher and higher percentage each year.

the client was previously only offered a noresult obligation, which meant that the search firm had only to present a shortlist of candidates to the client and did not necessarily follow through until the end.

Nowadays, search firms are offering a complete service, from sourcing the best on the market to seeing the candidate settled in. Both the candidate and client are followed up 6 months and 12 months later to see how the match is progressing.

This all implies that there will be more business for headhunters in the coming years, providing they can offer the approach and service our clients now demand.

Our clients are also more aware of what it takes to get the right people and are more conscious of what they need from us. French companies now deem it essential to get: • Proper advice on drawing up the right profile to fit into their organization • A full understanding of their company culture and organization • Accurate and regular reports during the entire search, interviews and retention • Demand more involvement in the process

HOW IS THE MARKET CHANGING? Previously our business sold the ability to reach people. Nowadays, it is so much easier to reach and find people through the various tools such as Internet, journals, networking etc; the search consultant is now selling the ability to a) interest, b) seduce, c) recruit and d) retain senior professionals on behalf of our clients. In addition, we are selling more and more an actual consultancy service, whereas we find up to 80% of other recruitment firms are selling staffing solutions. There is an enormous difference between these two options and our clients are becoming more aware of the distinction.

One of the key changes recently implemented in the French market is that

While this is obvious on other markets, we must remember the French market has been driven by tradition and a very definite culture.

The French search consultant must now sell exhaustively; that is, we must search the entire market or markets for all feasible candidates, whether they are sitting in France or internationally. Ultimately we have to find the best we think will fit into the French

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The Trainer: Jill Dillistone – arguably the Retained Search industry’s leading trainer with over 20 years experience of conducting research for a number of premier search firms in the UK and Europe as well as delivering training courses internationally for major search firms such as Russell Reynolds, Heidrick & Struggles and Whitehead Mann.

BOOK NOW FOR:

London

New York San Francisco San Francisco Chicago

Sydney

Brussels

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EXECUTIVE SEARCH TRAINING WORKSHOPS a series of 1-day training seminars for Retained Search Professionals

"Excellent day, putting some theory behind our practice!"

Kirsty Weston, Korn/Ferry, UK "Very clear and articulate presentation, easy to follow and understand" Angela Biss, BOS Executive Search, Australia "It was a very good workshop. I can't say that there are any points of improvement."

Christian Mikkelsen, Wingmanager, Denmark "It was excellent: well planned & organised with solid tips" Candy Wong, Eastwood Consultants, Hong Kong

THE WORKSHOPS:

Research and Candidate Development Workshop: 2006: London 10 & 16 October, New York 9 November, Chicago 13 November 2007: San Francisco 8 February, Sydney 21 February, Brussels 27 March, London 17 April

This 1-day workshop is for less experienced researchers and consultants. The three themes covered during the day are research skills, telephone techniques and administration and project management.

You will learn: How to be creative in solving your search • Five techniques to screen candidates effectively • How better to set priorities and manage your time • The secrets of getting to the best candidates fast

Search Execution and Client Management Workshop: 2006: London 10 & 16 October, New York 9 November, Chicago 13 November 2007: San Francisco 9 February, Sydney 22 February, Brussels 28 March, London 18 April This 1-day workshop is for professionals involved in the search execution process and focuses on effective and successful client management and liaison (including progress reporting), candidate interviewing and referencing and the preparation of candidate reports and package negotiation.

You will learn: How to get the real story behind the CV • Five techniques to add value in the search process • How better to manage client meetings • The secrets of developing long term client relationships

Interview Skills Workshop: 2007: Sydney 23 February, Brussels 29 March

This 1-day workshop covers an introduction to compentency-based interviewing and an exercise in critical-incident based interviewing. The benefits of the day include the opportunity to improve your skills in candidate evaluation; practice different questioning techniques in role plays and learn about different approaches to interviewing.

You will learn: How to match candidates to clients' requirements • Five techniques to improve your interview skills • How better to get the detail behind the CV • The secrets of presenting the right candidates

Maximum 16 attendees per workshop.

For rates and to book, please complete the booking form available online at www.dillistone.com/workshops and send it with the payment to one of the addresses provided. (please make cheques payable to Dillistone Systems Ltd) If paying by credit card, please fax it back to us on +1 (201) 221 7518 or +44 (0)20 7729 6108.

Refreshments will be provided throughout the day.

For more information, please visit our website www.dillistone.com/workshops or send an email to marketing@dillistone.com

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DUBAI Senior Consultants/Consultants Research Manager Research Associates

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nterSearch in the Gulf is a partner firm in InterSearch, which is among the top dozen largest global retained search firms. We are based in Dubai and cover the whole of the Middle East region, as well as North Africa, from here.

The high oil price, as well as the increasing acceptance of retained search in Dubai, has resulted in a rapid and continuing expansion of our business here. We have doubled our business every year for the last three years and we intend to continue that rate of growth for the next three or four years and beyond.

We are looking for additional professionals at all levels of our business.

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ou will already be successful in a retained executive search firm and will be looking for further career opportunities in a market-leading firm in Dubai.

Consultants/Senior Consultants will be graduates and will have extensive experience as a retained search Consultant in at least one of the following sectors: Banking & Financial Services, Oil & Gas, Private Equity, Aluminium, Manufacturing, Real Estate Development, Engineering, Auto or Hospitality.

Research Associates will be graduates in Psychology, Business, Commerce, or HR with at least two years experience as a Researcher in a

leading generalist retained search firm. You must also have prior experience in Filefinder 6 or higher versions.

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e offer an excellent working environment that is professional, challenging, demanding, lively and friendly. Many of our Researchers have gone on to be Consultants with us, and many of our Consultants have gone on to be Partners. Our business plan calls for opening additional offices in Qatar, Kuwait, Bahrain and Oman over the next eighteen months and Partners will be appointed from Dubai for all of these new businesses.

Dubai is a fantastic place to live and our people are among the highest earners in this region.

If you are interested then email a resume in complete confidence to:

John Robinson Managing Director Middle East InterSearch in the Gulf Email: jr@intersearch.ae

In the Gulf

A worldwide organisation of executive search and human resource consulting firms.

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organizational structure, based on our time with the HR teams. As the French firm evolves and becomes more international, it now becomes vital that the best fit be both a French national who understands this complex culture but also someone who has had international experience that he/she can bring into the company culture (including, of course, English). Adapting to these dynamics, a search firm that operates as a global network will obviously have a much wider scope to offer their client than a Frenchbased or franchised operation.

A TRADITIONAL CULTURE: CAN IT ADAPT? The French market was always renowned, and to a certain extent still is, for its French only culture. Nevertheless, most positions now demand international experience as well as English. Gone are the days of surviving on French alone. This in itself will mean the search consultant must be able to look outside of France, as they may not find the best fit that has all the skills the client requires – again remembering that the French culture has focused on tradition.

Dilemmas the search firm must face include: Is the client working with local or international headhunters? Clients’ budgets are tighter so they prefer to go to a local firm that they assume will be cheaper than an international firm. As search consultants, it is our role to educate the client and explain that pricing structures are not based on local versus international but on quality of service and the ability to obtain the best fit.

According to the Guide des conseils en recrutement (a Cercomm publication), there are approximately 1,250 recruitment firms in France and 25% of recruitment is done by specialist firms. How does your firm fit into this number – what can you offer that differentiates you from the thousands of others ?

SpenglerFox, when it launched in the French market in 2003, designed its pricing policy very carefully. It is based on full research of the market, its current status, its past and, most importantly, its future evolvement. As with many other locations, we must respect the cultures of our market, but we must also work with, advise and almost coach our client partners into the

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new 21st century for them to be competitive, both locally and internationally.

Within the French market, it has traditionally been frowned upon to headhunt because it was perceived as inappropriate to make money from ‘selling people’. Search consultants are trying to change this image and help clients understand that search is not about selling people, but selling a consultancy service.

The criteria in France were also considerably snobbish than in the surrounding countries. For example, having you attend the right school is vital, along with your background, family and friendship.

These factors are often regarded as more important than perhaps your ability or potential to actually fit into the company culture and be an invaluable asset.

Nevertheless, these ideas are beginning to change, but we still have a long way to go.

SpenglerFox promotes this change in attitudes and encourages different perceptions, showing the client that someone different can make all the difference to their company culture, the role, the success, etc.

This also means that the typical French CV will begin to change, which is important for French professionals to consider when looking to making a change in their careers.

In the UK, the role of advertising for top positions in the key ‘prestigious’ newspapers on behalf of your client and as part of the search process is perceived as acceptable.

This has never been a part of French culture, but, again, we see a very small change with search firms looking at the likes of Les Echos, Le Monde, L’Equipe, Le Figaro as potential journals for attracting a wider audience.

THE EVOLUTION OF THE SEARCH CONSULTANT Previously, the typical executive search consultant in France was always someone coming towards the end of his career; older, established, an expert in one particular sector or company, and very Franco-French.

Now the market is becoming more dominated by equally excellent consultants who are born and bred into this business.

It’s all they know. They have studied the business or have a business qualification.

Our profiles, for example, did not exist in this business 15-20 years ago. We are a new

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species who are more broad-minded, creative and bring an international focus to our clients and their changing markets. We can bring something new to the French company and culture.

A key issue for the market is that the more traditional, older, top search consultants are now about to retire, leaving a wider market for the new, younger and more dynamic search consultant. How this will evolve is yet to be seen?

In perhaps typical French fashion, the search consultant is seen as having a very sexy role and, at the same time, people are slightly nervous when dealing with us. Many are not fully aware of what we do exactly.

Others tend to forget that we evaluate the best fit for our clients. As part of our consultancy practice, we aim to help people understand our role and the benefit we bring to our client’s organization. We are working together with the new breed of HR managers in France to update French companies with global modern structures.

Eric Verney has joined the SpenglerFox network from Mercier & Partners where he was Principal, Senior Consultant. In this role he participated in shaping the company into an esteemed international boutique dedicated to delivering leadership capital and business consulting services to the technology and professional services industries.

He began his career in the recruitment business in 1997 and has led numerous high profile regional assignments all over Europe for an international Recruitment Agency. He has held positions such as Manager of the Tax & Legal Department, Manager of International Finance Service in addition to being in charge of business development for Poland.

Eric Verney holds a Master Degree in Law (LL.M.) in McGill U. (Canada) and a D.E.A. in Paris Pantheon-Sorbonne. In addition to his native French, Eric speaks fluent English, German and basic Polish. He can be contacted at everney@spenglerfox.com Yvan Coquetin joined the SpenglerFox network in 2005. Yvan specializes in the recruitment of corporate officers and has extensive experience in corporate finance and the LBO fund sector. Prior to joining SpenglerFox, he worked in Paris for KornFerry International and Michael Page.

Yvan set up his own company, an ecommerce financial platform on the web in 1997 before beginning his career in executive search.

Yvan graduated from Sc Po Paris and holds a Masters in Finance. He speaks French, English, and Spanish. He can be contacted at ycoquentin@spenglerfox.com

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

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of ASnapshot Executive Search in France

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rance is the 3rd largest economy in Europe, and has a fairly central position in Europe. Therefore, this country is attractive for multinationals and locals alike as business is a vital component. Despite France’s unfavourable social and tax laws, companies are setting up offices, expanding and looking to hire the best-suited candidates to help their respective companies remain competitive.

The market is solid and expanding reasonably. There are some signs of growth, but the market is still not buoyant. It does seem to picking up as French companies seem to having a more positive attitude.

Executive search is still not as generally accepted as it is in other countries, such as the UK. In fact, many of the top executive positions are still made without using search.

Between 30-40% of the top managers are recruited through search while in the UK this figure would be closer to 70%. But it is a practice that is gradually gaining more momentum.

The most dynamic search areas in France are FMCG, Industry, Financial Services and Life Sciences. IM and Board Services are also developing quite a lot recently.

THE CHALLENGES THAT LAY AHEAD Our greatest challenge in France is to demonstrate our added value, especially when you compare us to selection businesses that say they sell the same service at a fraction of the cost. Our value proposition is in assessing a handful of top-quality candidates that will fit in with our client’s company and culture.

We tend to find ourselves first entering into a supply and demand relationship as clients approach us after first trying other means of obtaining the right candidate because they are trying to save the fees that we charge. For these clients, search is often used as a last resort. As a result, they place a great deal of pressure on us because they have already

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Marc Lamy

wasted valuable time, usually 6 months, beforehand. This, in turn, does affect the way we present search because we are simply producing candidates instead of entering into a real partnership with our clients. Therefore, we spend a great deal of time explaining to these clients how our process affects their specific needs. We also have to provide them with more identifying reports to show that we have looked at the entire spectrum of candidates.

French executives are more interested in the challenges of the new role and the experience it will provide them versus just the salary increase. As a result, search consultants have to be extremely persuasive when presenting job opportunities to these candidates.

In France, the consultant and the business are still very much intertwined. Obviously companies will look at firm’s global brand and credibility, but the main factors that underlie why a company selects your firm over another is based on the consultant’s success rate, the quality of delivery and the trust that forms

By Marc Lamy between that search consultant and the client.

In building client relationships, we have to be able to demonstrate that our added value is based on our team effort and not just based on one person’s selling ability. To be able to consistently and effectively perform, we must invest in the proper tools and resources to fulfill our clients’ requests.

Clients are increasingly demanding more assurance that search consultants are conducting a thorough and high quality job.

They want to be more involved and they want to be regularly updated on how the process is unravelling. Clients are also asking us to be more creative and find candidates that they would not normally have approached. Diversity is becoming an important issue as clients are asking us to include more women candidates on the shortlist. Clients are also asking for candidates that have international exposure, which means broadening our scope to include more cross-border candidates.

Once we have demonstrated our exceptional quality, we can then deliver more value than just being a ‘body broker’. On one hand, we are advising clients and entering into a real partnership, while on the other hand, we are providing candidates with enormous opportunities. This is what a real partnership entails as more and more companies in France are beginning to see the added value we can offer.

Marc Lamy joined Boyden, who is celebrating 60 years in business, in June 1993 as Managing Director of Boyden France and Head of Boyden’s Finance global practice group.

In 1994 he was elected member of the Board of Boyden World Corp. and has been re-elected by all the shareholders every two years since.

Marc Lamy is a founding member and Board Member of the French Institute of Directors (IFA) and Vice-Chairman of the French Finance Association (AFFI). Earlier this year Marc was also elected as a Board member of the AESC.

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

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Glimpse A of its Key Challenges

France:

By Alain Tanugi

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he French constitute the most brilliant and the most dangerous nation in Europe and the best qualified, in turn, to become an object of admiration, hatred, pity or terror but never indifference.” A young Alexis de Tocqueville describes his motherland in the early 19th century. His words still carry a haunting truth…

In every economy, it is crucial for companies, domestic or international, to manage operations, resources, and personnel effectively in order to grow in revenue and profits—and ideally both. In today’s uncertain economy, especially in light of increasing competition across industries, it is becoming more challenging to do so, especially when social and cultural issues influence the economic growth of the country. One of the challenges facing companies, and in turn executives search professionals, in France is when it comes to employee rights and protection.

During the past decade, French economic growth has been insufficient to bring down high and persistent unemployment (currently around 9%). The origins of poor labour market performance, a central challenge for French policymakers, can be found in a combination of measures themselves designed to protect workers.

One of most liberal and bureaucratic labour laws in the world has created a high minimum cost of labour and strict employment protection legislation, as well high tax wedges on labour.

For example: the average French employee is capped at a 35 hour week with full benefits (health, unemployment, pension, etc...) averaging 50% of one’s salary. All French fulltime employees have a contract and after an initial 6-month probationary period, it is an extremely difficult and lengthy process for him/her to be dismissed. Many companies are limiting their full-time permanent hiring and turning to interim, project, or temporary independent contractors. These individuals are not subject to the stringent regulations of

Alain Tanugi

regular employees - no contract, no 50% benefit cost, no severance/layoff cost, no legal or administrative hassle.

A further challenge facing not only executive search professionals in France but also globally is a trend that they have to illustrate real value to clients as opposed to just providing a search.

It is clear that a value-added service offering is the way forward. Success needs to be measured on the impact executive placements have had on organization's bottom line.

Executive search consultancy, by its nature, is a high-end professional service. The real challenge is demonstrating how the fees pale in comparison to the financial impact their executive hires deliver for their shareholders.

Is there a future for executive search in France in the light of restrictions in the labour market and competition? The answer is simple: Of course! Doing business in France makes money. France is a large market—in fact it is the seventh greatest industrial power in the world. It has a pro-business environment, an attractive financial market, and its net spending on R&D is the fifth in the world.

“A global organization not doing business in France is similar to a rainbow not having

one of its core colours”, noted one U.S. executive. According to the latest AESC ‘State of the Industry Report’: “the number of searches in France increased from Q4 2005 to Q1 2006 by 7 percent, following a previous quarterly drop of 4 percent. France accounted for a 10 percent share of total European market in Q1 2006.” Having said the above – it remains a challenge to do business in France, but search professionals will be able to run a successful business if they are able to navigate the regulatory hurdles.

Change, nevertheless, is still needed. In recent years France has undergone cosmetic reforms that have yielded few real changes.

It has also experienced internal turmoil that has implications beyond its own borders. Even though the French still seek to project influence through Europe, they will have difficulty doing this with all-consuming strife at home and while they still struggle to come to terms with Europe's internal market. There is a concern that the longer France struggles to reform and define a role for itself in the world, the more it might be tempted to retain its social model as its raison d'etre, and so hold on to a questionable set of guiding principles.

France has the choice. On the one hand, a bold effort at renewal that could set free the best in the French? Or, on the other hand, an obstinate defence of the existing order that will keep France an average world power in economic decline? The latter would inspire neither admiration, nor terror, nor hatred, nor indifference - just pity.

Alain Tanugi has over 30 years experience in Executive Search. Prior to co-founding TRANSEARCH, he was the Managing Director of a well-known French recruiting firm that he founded in 1975. Previously, he was Managing Director of a Paris-based firm dealing with career counseling, outplacement & training. Alain is Chairman of the Board of TRANSEARCH International Partners Plc and heads its global Board Practice. He is based in Paris.

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

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Technology Executive Search Company Name

Principal Search www.principalsearch.com

Website

London and New York

Location A brief description of your company and types of services offered

Executive search in financial services based in London and New York. Work on retained mandates for top tier investment banks, asset managers, hedge funds and commodity houses.

A brief summary of the executive search market in your country

A mix of providers offering a range of services from contingent recruiters to pure research-led search firms working on retained mandates only. A reasonably sophisticated market with a diverse and unregulated supplier base. Clients becoming increasingly demanding on fees and Terms and Conditions as the market becomes increasingly competitive.

Tell us how technology has helped your business

The whole process of search – in the way in which we operate - could not function without a sophisticated database. The FILEFINDER system ensures that assignments are run and monitored in an orderly and efficient manner, and anyone in the organization can track the progress of a search at any time. It is the researcher’s key tool in being able to carry out their job properly.

Company Name

ICAP – INAC Greece www.icapcareer.gr, www.inac-global.com

Website

Greece and the world

Location A brief description of your company and types of services offered

Middle to Senior level Executive search, focused on Technology, FMCG, Financial Services and Industry. As the Greek partner of INAC, we provide local, cross-border and global recruitment solutions.

A brief summary of the executive search market in your country

The Greek recruitment market is worth around 40M, of which Executive Search and Selection represents 27%. The private sector still accounts for the majority of work, but ICAP – INAC Greece sees a continuous growth of Public sector assignments, as Energy, Transport and Banking becomes more and more privatised attracting a wealth of foreign investment.

Greek firms are expanding to the Balkans and beyond, utilising our knowledge and proximity to these markets as well as the relatively cheap capital provided by a banking sector, which is thriving. This results into more cross-border assignments, and it allows for a freer flow of human and intellectual capital between Greece and its regional business partners.

Tell us how technology has helped your business

ICAP – INAC Greece faced an enormous challenge two years ago, when newer entrants to the market were threatening our position.

Our firm established an Executive Search practice in 1974; a pioneer in Greece, but our processes, our candidate management systems and our technology was obsolete at best. We decided to work with Dillistone UK, with a very simple brief in mind: ‘Become more efficient and gain competitive advantage via technology’.

For us it was a transformational piece of work. It enabled us to track better our Key Performance Indicators, and link them to rewards. It allowed us to manage our bottom line and delight our shareholders. It assisted us in reducing peaks and troughs in our consultants work, improving their work-life balance. It made our continuous ISO certification (something many clients demand), a doodle.

Our revenues grew by 100% last year and we expect a further 30% this year, with reduced headcount and improved margins, thankfully someone else has invented the wheel…

Brooke Chase Associates, Inc. www.brookechase.com

Website

Sarasota, FL; Chicago, IL; New York City, NY; San Rafael, CA; Charlotte, NC; Los Angeles, CA

Location A brief description of your company and types of services offered A brief summary of the executive search market in your country

Tell us how technology has helped your business

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Founded in 1980 by Joseph McElmeel, Brooke Chase Associates, Inc. is an international retained executive search firm specializing in the identification, recruitment, evaluation and placement of qualified industry professionals. Besides sourcing and recruiting candidates, Brooke Chase Associates, Inc. also provides psychological testing, corporate culture analysis, relocation studies, employee background checks, and wage & salary surveys.

Brooke Chase Associates, Inc. is an International Search Firm recruiting in the Building Materials and Kitchen & Bath Industries. Currently Brooke Chase Associates, Inc. has six office locations in the United States to serve clients in North America and Internationally. Our recruiting techniques are precise and direct. We utilize two guiding concepts; industry specialization and computerization. We have built one of the strongest databases in our industry. In addition, our strength in research permits us to go beyond our past contacts and target companies to identify potential candidates in any functional discipline. We make it a point to know the industries we serve and their most talented professionals.

The team at Brooke Chase Associates, Inc. takes great pride in the technology that is used to communicate with our clients and candidates.

We utilize broadcast emails to industry professionals on a bimonthly basis to apprise them of our active retained searches. This is a great communication tool that allows us to contact thousands of people instantly.

The use of Video Conferencing at Brooke Chase Associates, Inc. has greatly improved over the last couple of years providing us with the ability to quickly and professionally meet a person “face to face” without the additional expense of a recruiter flying across the country to meet with a candidate.

Remote access for our recruiters on the road provides them with the ability to stay in touch with the office while traveling. This technology continues to improve offering more options and easier access to information. In addition, we have five remote offices that need instant access to our database and corporate email. The technology we have developed for our remote users no longer limits what can and can not be done on the road or in the satellite offices.

The Dillistone FILEFINDER database system enables us to manage a number of search assignments at once. With this system, we are able to quickly access a client or candidate’s information and log every interaction. This allows our recruiters and researchers to instantly know the status of each search. One of the main features we continue to use is the reporting function which provides us with reports that help keep our clients informed about the progress of their search.

Technology is used in every facet of the search process for Brooke Chase Associates, Inc. so we continue to look for better ways to use technology to improve the search process and become even more effective in the competitive marketplace.

search-consult ISSUE 28 2006

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INTERNATIONAL EXECUTIVE SEARCH FEDERATION

GLOBAL REACH ... ... LOCAL KNOWLEDGE

EUROPE Austria Belgium Czech Republic Denmark France Germany Hungary Italy Netherlands Norway Poland Romania Russia Slovakia Spain Sweden Switzerland UAE UK

• Recruits superior executive talent • Understands local markets • Partnering for start up projects • Responsive and timely delivery

London Office:

Hong Kong Office:

Andrew Walker Joint President

Mark Geary Joint President

Tel: + 44 (0)20 7520 9047 Email: andrew@iesf.com

Tel: + 852 2530 0130 Email: mark@iesf.com

www.iesf.com

AMERICAS Argentina Brazil Canada Caribbean Chile Colombia Mexico USA ASIA PACIFIC Australia China Hong Kong India Japan Malaysia Singapore South Korea Sri Lanka Taiwan Thailand Vietnam

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