Archive for category Executive Search
How to recruit a CFO
Posted by Frank Mortimer in CFO Jobs and Careers, Executive Search on July 30, 2010
For (almost) CFO’s: an interesting article on what companies should look at when trying to recruit you..
With no control over a turbulent global economy, organizations are focused on executing an effective business strategy to enable them to survive and strive in what most economic commentators agree is the most challenging and complex business environment in the post-war period. Developing this strategy is one thing, delivering it is another and demands an individual to partner the CEO in driving the business towards its goals: step up the CFO.
The role of a chief financial officer has changed dramatically in recent years. Once perceived as the chief bean-counter within the organisation, some 75 percent of today’s CFOs are now assuming a greater role in management strategy, according to a recent CFO Survey conducted by Deloitte Consulting. Having redefined their traditional role CFOs have become firmly positioned as the most important person in the organization after the CEO prompted by- and in reaction to- the Enron debacle and accelerated by the recent recession.
So, when your organization is on the lookout for a new CFO, how do you find the right person to serve as your CFO? Here are a few tips to help you:
1. Does your business really need a CFO and do you understand what their role will be?
Not all businesses need a CFO and there is no hard or fast rule, but there are certain signs that your organization requires one: when the business’s top-line revenue breaks through the £5 million mark; when you need a formal audit; when the company is contemplating going public or engaging in mergers or acquisitions; or when staffing levels exceed 30 employees and the business looks to maximize and monetize all financial opportunities, as was the case when Twitter recruited Ali Rowghani as CFO earlier this year.
Once you have decided that your business needs a CFO you need to understand exactly what their role will be. More than just a glorified bookkeeper, a CFOs role is one of strategic planner who will advise the board and other key stakeholders on how to drive growth, protect the company’s bottom line, streamline operations to increase efficiencies, reduce costs without hurting the organization’s ability to grow profitably, and unearth new opportunities. On top of all that, your new CFO is expected to play a leading role in restoring corporate trust and business integrity – especially in the wake of the Enron scandal – through compliance with new regulations such as the Sarbanes-Oxley Act of 2002 and IAS.
2. What qualifications and experience should you look for?
“Selecting a winning CFO is one of the most important aspects of a CEO’s job,” says Amy Errett, a partner at venture capital firm Maveron in the US with experience in recruiting several CFOs in her various businesses. “A great CFO must be a strategic thinker, strong manager, have a strong business sense and have excellent finance skills.” The key skills you might seek in your next CFO, include:
• Leadership – are they experienced at leading teams and managing people from a range of different disciplines, such as merchandising, manufacturing or sales?
• Experience within a specific industry – do they have an in-depth working knowledge of your industry and understand the challenges faced? How many years of experience do they have in a similar role overseeing the financial health of the company?
• Relevant qualifications – the finance sector in both the UK and North America is simply huge and there has been a push for a global standard of accounting in recent years. An MBA and/or an accounting qualification combined with certified status are pretty much the norm.
• Communication and presentation skills – do they have strong negotiation and persuasive skills which can be used to drive forward their ideas, instil confidence and encourage buy-in from the board of directors or outside investors? Can they present complex information in a way that can be understood by stakeholders, potential investors and Jo Public?
3. What candidate attraction strategy works best?
The route you take will depend on two things: cost and urgency. If you need to fill the position sooner rather than later and the business can afford to absorb the cost associated with using an external agency, it makes sense to utilize the services of a head-hunting consultancy with expertise and a proven track record in making senior executive placements for their clients.
“The top 10 percent of any organization tends to be so well looked after by their current employer that they are not responding to adverts, registering with recruiters or putting their CVs on job boards,” says Anna Davidson, senior executive headhunter and associate director of the UK’s only Headhunter Training Academy. “Using a headhunter will give you access to the best people in the industry and really make them sit up and listen to an opportunity.” They will proactively target individuals who meet your selection criteria, approach them on your behalf, screen them to verify their suitability and provide you with a shortlist of the ‘best’ talent around.
But don’t put all your eggs in one basket. Consider advertising in trade publications and websites, job boards and other specialist media. And maximise the opportunities to reach out to potential candidates via online social networks, such as LinkedIn, Twitter and Facebook. According to the Jobvite Social Recruiting Survey 2010, 73 percent of employers currently use online social networks or social media sites to support their recruiting efforts.
4. Interviewing candidates
This is a buyer’s market and you are in the fortunate position of being able to cherry-pick the person you feel best meets your organisation’s needs. But as Davidson reminds us, “good CFO’s are always in demand.” So it’s down to you to ask the right questions that will help you identify the best candidate. Can they do the job? What have been their major achievements during their career to date and what could they bring to your organization? How well will they fit in with your corporate culture?
Give candidates a real-life financial problem to evaluate. Challenge them to provide solutions and opinions on their recommendations as to the most effective course of action while looking out for the candidate who thinks logically, strategically and considers the bigger picture.
5. Trust your gut
OK, so you’ve interviewed some great candidates and all references and background searches have checked out, but what does your gut instinct tell you about your new choice of CFO? In his book, Blink, Malcolm Gladwell said that “decisions made very quickly can be every bit as good as decisions made cautiously and deliberately”. So no matter how great your chosen candidate’s references may be is this person someone with whom you can establish a strong working relationship and rapport with – the key ingredients to a successful working partnership? As Errett say, “You are inviting someone into your family, your sandbox, and having to integrate them well is very important.”
The image of a CFO as simply being the most senior finance person within the organisation is an antiquated one. Today their role has grown in stature and influence as a strategic thinker rather than financial controller or number cruncher. And although the CEO retains the role of leader the CFO must be positioned as a senior player and representative of the future direction for the company. The more the CEO establishes their resolute support for the CFO, the greater the chance for success and collaboration with the rest of the organisation. After all, you can’t whistle a symphony; it takes an orchestra to play it.
Source: Execdigital
Current Headhunter approach is out of date
Posted by Frank Mortimer in CEO jobs, Executive Search, Uncategorized on February 11, 2010
Finding a new chief executive or chairman has become a transactional process. The mechanics are well established but the search touches only a fraction of the available talent pool.
Unfortunately, today’s headhunters are professional interviewers who do not understand how chief executives work in practice. Top chief executives focus on winning by hiring strong leaders with the right personal qualities. In contrast, their headhunters rely too much on narrow job briefs. There are more fundamental, structural problems within the industry. Headhunting firms are staffed by highly experienced and dedicated professionals, but their incentivisation, approaches and leadership are out of date.
Individual search consultants earn low base salaries, with bonuses driven by the number of searches they sell and execute. This means that they are heavily incentivised to get as many searches done as quickly as possible. Ideally, a client would want a search across as many geographies and industries as possible. In contrast, consultants cut their own pay if they share the work widely with other partners.
With a pressure to transact searches, and client relationships in the hands of individuals and not firms, knowledge growth is slow, built case by case. What they should do is proactively identify the best leaders and emerging leaders wherever they are in the world. Search consultants typically charge a third of the successful candidate’s estimated first-year package, irrespective of whether the chief executive search is successful. It is not surprising that clients hate this.
The search industry must move towards much lower retainers, a success fee for completed searches and far more significant upside if they place a highly successful boss.
We need firms that understand the different types of chief and how they work. A winning firm is a proactive talent scout constantly building a base of the best global leaders.
It transacts fantastically still, but now shares richly in success and is not paid for failure.
We need to move from a passion for clients and fees to a passion for clients and global leaders and a firm belief that fees follow good work. Imagine, a headhunting firm that clients love and employees are proud to be part of and whose candidates create the next generation of global companies. What a prospect.
Extraction of an article by S. Tappin, The Times.
How recruiters select headhunters
Posted by Frank Mortimer in Executive Search, Finding A Headhunter, Uncategorized on February 7, 2010
How recruiters select headhunters, tells you a lot about how headhunters and recruiters from larger companies select candidates. De following a list of questions recruiters are suggested to use to select a headhunter. Bear in mind that the list is made by a headhunter from Signium international.
1. What is your firm’s industry focuses – who are some of your current clients?
This determining factor allows a hiring organization to assess a firm’s market and functional knowledge relevant to their specific situation and need. One must have confidence that the consultant knows where to look for the top talent, and how to engage and recruit them. This confidence will support a cohesive and functional client/consultant relationship throughout the course of the project.
2. Who will be doing the work; how is your firm structured?
Given the consultative nature of search, it is critical to determine how involved and engaged the lead consultant will be during the course of the project. Will the consultant who sells or ‘pitches’ the assignment do the majority of the work? Is the research and candidate development conducted in-house, or outsourced to a third party? Does the firm have the appropriate project management and communication tools to ensure timely and accurate feedback? Who, exactly, will be accountable for your specific project?
3. How many searches does the consultant handle simultaneously?
Here is a good question to ask as a follow up to the previous discussion. A consultant handling over six or seven projects at one time is average. You need to be comfortable that your project is going to receive the time and attention needed to be a success.
4. What percentages of searches are successfully completed? Is there a guarantee should the placement fail?
The industry average for completing projects is between 65% and 70%. This is partially a result of cases when specifications and/or business conditions change, organizations restructure, or the skill set you seek does not exist. While there are many variables that can affect this number, a reliable number should be in the 75% – 90% range. The key here is to be wary of the consultant who tells you that they have a 100% completion rate. This is not realistic!
Most firms offer at least a one year replacement guarantee, and will replace a candidate who does not work out for expenses only.
5. What are the timing and key milestones of the process?
In most cases, executive level searches take between 90 and 150 days to complete. Most professional and competent firms/consultants will be able to provide you a well defined and detailed outline of their process and timeline. Typically, you should expect a detailed progress review, including a list of pre screened and qualified candidate backgrounds between weeks four and six, and begin to see candidates face to face between weeks six and eight.
Note: Often times searches are lengthened because of candidate availability and scheduling conflicts, especially for those candidates currently employed.
6. What are the firms current “off limits,” i.e., where is a firm blocked from recruiting candidates based on existing client relationships?
This is a critical question to ask either large firms with specialty practice groups, or smaller firms focused on specific functions or market sectors. Firms typically cannot recruit from an existing client for one to two years after an assignment. If a large number of target companies (those where the majority of potential candidates are currently employed) are blocked, your ability to access a strong candidate pool could be severely limited.
You must also ensure that there is agreement with your chosen firm as to the length of time they may not recruit from your organization. Be careful not to let the fox into the hen house.
7. How is candidate quality assured?
The lead consultant needs to have a clear understanding of the performance metrics and evaluation tools that will be used by you and your organization to judge candidates. It is important to have confidence in their abilities to understand both your organization’s culture and the scope and requirements of the position to be filled. The search consultant must function as your agent in the market to both engage and recruit the best available talent. They must have the ability to recruit the best candidate for the job, not the best candidate looking for a job.
8. How and when are references conducted?
This has continually been a key issue and one that is fraught with pitfalls. Consultants must be able to reach beyond just career history and focus references on discussing competency, character and potential. References should be sequenced into the process. We recommend that at least two are done before you decide on a final candidate. This will go a long way in eliminating the possibility of costly and potentially embarrassing problems later in the process! Final references should be checked with a combination of supervisors, peers, and subordinates, and with individuals other than those provided by the candidate. Keep in mind that while you may want to do ‘backdoor’ references yourself, in order to protect a candidate’s privacy, all references should be coordinated through your search consultant.
9. What is the firm’s role in candidate negotiations and closing?
This is a crucial step in the recruitment process, one in which a professional search consultant should be both comfortable and experienced. He/she must be able to effectively negotiate and communicate with both parties to achieve successful outcomes.
10. What are fees and expenses?
Retained firms typically bill between 30% and 33% of a candidate’s first years total cash compensation, paid in three equal installments over the first three months of a search. Most firms bill you for all expenses directly attributable to conducting the search, and some firm’s bill for non-itemized, or communication expenses. Upon request, firms may agree to a flat fee, or a discount based on volume of work. In some cases, firms will tie the timing of their invoices to their successfully attaining specific stage gates during the search process, including linking a portion of the professional fee to the completion of the assignment.
11. Is your firm accredited, are you a member of an Industry Association?
There are several key industry associations for retained Executive Search Firms, the most visible and important being the AESC (Association of Executive Search Consultants). AESC members comprise an elite group of top tiered retained Executive Search Firms. All members agree to abide by the Associations Code of Ethics and Professional Practice Guidelines, and meet strict membership criteria. Membership in the AESC is the only form of quality accreditation that exists for retained executive search consulting. The other key organization is the IACPR (International Association for Corporate & Professional Recruitment) whose mission is to provide the senior-level recruitment community with opportunities to network, share best practices and build cutting-edge expertise within a collaborative environment, and whose members are comprised of both corporate recruiters and executive search consultants
Judging the headhunter
Posted by Frank Mortimer in Executive Search, Finding A Headhunter, Interviews on February 7, 2010
Headhunters earn their living by finding and evaluating job candidates for the benefit of their clients. Some are better at this than others, and you should know what distinguishes a good headhunter from a not-so-good one — at least from the standpoint of the job hunter. This will help you avoid (a) wasting your time, (b) divulging confidential information to the wrong people, and (c) developing false hopes.
There are a lot of headhunters out there, and they tend to come in two types:
Those who get into the business because the cost of entry is low. They’re looking for a quick buck. They’re in a big rush to close deals, and they aren’t very concerned about what anyone thinks about how they’re doing it. That’s not to say they’re all dishonest; just that they aren’t taking the long view. You’ll get pretty frustrated working with them because of the way they treat their clients, their professional community, and their job candidates.
Those who are building a business based on reputation, relationships and trust — and on making a contribution to their professional community. They’re in less of a rush, are more willing to take time to establish long term relationships, and they seek to establish their credibility as much as to earn a buck. This doesn’t mean they’ll take anyone’s call, just that they’ll act responsibly.
How does a job hunter separate a knowledgeable, trustworthy, conscientious, effective headhunter from the rest? Assess him (or her) on these four attributes:
Knowledge
A good headhunter will have tons of valuable information about the company he or she is representing, about the job, the manager and his team, about why the job is open, and about the technology (if applicable). He’ll be able to tell you about the interview itself: how the manager evaluates candidates, how his team will be involved and how the selection process will play out. Most important, the headhunter will be able to coach you in a way that will maximize your chances of winning an offer.
Even good headhunters don’t have all the answers. But the good ones will tell you when they don’t know something.
Ask the headhunter thoughtful questions about the position he or she called you about. Don’t just focus on the title and salary — get into the work itself. A good headhunter will share lots of his knowledge and in doing so give you enough information to help you make a decision about whether you want to pursue the job (or recommend someone else). A not-so-good headhunter will quote you the title and the salary, but will be in a rush to get off the phone so he can call the next person on his list.
Integrity
A trustworthy headhunter is proud of his business and glad to talk about it. His success depends on you trusting him. So, ask him thoughtful questions about himself and his work. How many years has he been in the business? What areas does he specialize in? Who are his client companies? What specific positions does he usually recruit for?
The answers matter, of course, but what you’re really looking for is an indication that the headhunter is forthright and willing to tell you about himself. A headhunter who’s in the business for a quick buck won’t have much of a story to tell because he’s operating on the fringes, picking up fees wherever he can. A good headhunter will demonstrate that he has good clients who respect him, and that he knows the in’s and out’s of the industry he recruits in.
A good headhunter also reveals his trustworthiness by keeping his or her promises. Don’t let a headhunter slide on this point — you’ll wind up wasting your time in the long run. Does the headhunter call when he promises to call? If he says he’ll call you early next week that means Monday or Tuesday of next week — not Friday at 6:00PM or two weeks later.
Does he return your calls? Once you’ve established a relationship, a good headhunter always returns your calls, just as you should return his. However, if you made the first contact and the headhunter didn’t show any real interest, don’t expect he’ll talk to you again in the near future. He’s not being rude, but he’s also not in business to help you manage your career. Either way, you should expect the headhunter to honor his commitments and to treat you considerately.
Conscientiousness
A good headhunter tries to locate and separate out the best qualifed talent for his client company. That’s why he won’t take cold calls or waste time with people who want a “job handout”. His focus is on the companies and people who will help him do his job. When he’s working on a search that has led him to you, he will be 100% attentive to you.
A good headhunter won’t just ask for your resume. He’ll do his research by taking the time to ask you the tough, detailed questions that will reveal whether you fit the company, the manager, the job and the technology. (Some headhunters will have a researcher on their staff handle this preliminary discussion. Expect the researcher to be as professional as the headhunter, and insist on talking to the headhunter himself if the discussion seems to indicate you’re a potential candidate.)
To a good headhunter, your resume is a follow-up, a kind of background material. It isn’t his objective when he calls. If a headhunter just asks for your resume and says, “I’ll get back to you”, you know you’re dealing with a guy who’s too busy dialing for dollars and not taking the time to do a great job for his client.
By investing the time to get to know you, a headhunter demonstrates his conscientiousness. So, pay attention to the questions the headhunter asks you: he’s revealing himself as much as he’s probing you.
Effectiveness
A good headhunter finds the right candidate and fills the job. That’s his business. To accomplish this, he has to gain the respect of the people he is recruiting, and he must demonstrate his ability to be right. If he makes a few “wrong” placements, his reputation is shot.
When people get frustrated because a headhunter won’t talk to them, it’s often because the headhunter is very good at what he does. And talking to just anyone isn’t his job. A good headhunter usually does not have the time to spend with individuals who contact him unless they happen to have expertise in the exact assignment he’s currently working on. (I’ve gotten such “lucky” calls only twice in eleven years.) My own specialty is the semiconductor industry, which means I cannot help the vast majority of the people who find me in the phone book.
What does all this mean to you? If you are actively looking for a job, then take control of your own job search, because the good headhunters won’t talk to you. That seems contradictory, but it makes perfect sense when you consider what we’ve said about the headhunter’s business: he can’t be an effective headhunter if he starts acting like a career counselor. If you’re the person the headhunter is looking for, he prefers to find you himself. Believe it or not, this is one of the best ways to recognize a good headhunter: he’s the one who calls you.
But to judge him properly, evaluate the headhunter carefully on all four of the attributes described above. When you encounter a good headhunter, do your best to help him with his search. Because there’s one last attribute you should know about: a good headhunter remembers.
J.Borer, Headhunter
Best headhunter Deutschland. Headhunter top 10
Posted by Robert Jan Veenstra in Executive Search, Executive Search Deutschland on February 3, 2010
Headhunter top 10 Deutschland (umzats)
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| Aus: Ranking der Top 15 Personalberatungen in Deutschland |
| Der wichtigsten Headhunter in und top personalberatungen in Deutschland : www.headhunterindeutschland.de |
Senior executive hiring market has turned a corner
Posted by Frank Mortimer in Executive Search on January 24, 2010
Slowely better news is creeping in: Ninety-one per cent of executive search consultants hold a neutral to positive outlook for the executive search business in 2010, revealing renewed confidence as the senior recruitment industry gains momentum following the downturn.
According to the 2010 Association of Executive Search Consultants (AESC) Member Outlook Survey of December 2009, 77% of those surveyed expect revenues to increase in 2010 and over half plans to hire more consultants this year.
Healthcare/life sciences and energy/natural resources industries are predicted to see the most growth this year. And China was considered to have the greatest demand for talent regionally, followed by India in second place.
AESC president Peter Felix said: “These outlook results for 2010 indicate very strongly that the executive search business, and thus the senior executive hiring market, has turned a corner. It is indicative of a new spring in the step of top management of organisations and a realisation that with a new environment decisions about the quality of executive teams are of paramount importance.” “I am very pleased to know that our member firms, representing the highest quality in the worldwide executive search profession, are again able to view their market place with a degree of optimism.”
Felix adds that: “There is a discernible change in the attitude of senior executives as they compare and evaluate opportunities within their existing workplace against new opportunities elsewhere. It is often in turbulent times that unusual career openings occur for talented executives and those willing to consider a move can be highly rewarded.”
The research encompasses the opinions of 268 executive search consultants worldwide.
source: Recruiter & The Gapelineonline, January 21, 2010
IT and Cleantech hot growth sectors in 2010?
Posted by Frank Mortimer in Executive Search, Uncategorized on January 19, 2010
Polachi, a provider of Access Executive Search™ services to technology, clean tech, venture capital and private equity clients released its top trend predictions for executive recruiting in 2010. As the economy pulls out of a recession, the job market is changing with information technology and clean technology gaining speed.
Although the job market will take time to stabilize, the economy is turning and economists are optimistic about 2010. “At Polachi, we have taken aggressive steps to meet the anticipated demands. We recently added Sean Carroll as a Partner based in the New York metropolitan area, specializing in situating C-level technology executives in the software, digital media and technology enabled services sectors,” said Peter Polachi, Partner.
Information Technology and Clean Technology Sectors To Grow: As 2010 approaches, there will be significant growth in the clean technology and information technology sectors. With an increasing demand for C-level executives in technology and a shortage of talent, there are a number of opportunities. “Since Labor Day, we have seen a dramatic increase at the executive level in start-ups to publically traded companies in the information technology and clean technology sectors”, said Charley Polachi, Partner.
New demand for a Chief Sustainability Officer – The new Environmental Chief: President Obama’s administration is dedicating a substantial amount of money towards energy efficiency. Polachi believes that based on this major push for corporations to become more green that companies will have the need to create a new executive level position for a Chief Sustainability Officer. According to Jim Poe, Partner, “In the next 5 years the demand for a CSO will dramatically accelerate as companies will need a CSO who is accountable to both the owner and share holders.”
Diversity at Larger Companies: “All companies are especially putting on a big push for diversity,” says Brigid Siegel, Partner. “They recognize that having a more multicultural representation leads to improved products and services for the ever-expanding minority and international markets.”
Innovation is key ingredient: Innovation is vital to today’s economy as it will create business, and in turn create jobs. “We see with our west coast clients that the west coast is climbing a little bit quicker than the east coast, but the tech market is gaining a lot of strength at the executive level in both general management and sales,” said Charley Polachi.
Decline in Venture Capital: As the economy rounds the corner, the 2010 executive job market will see a shift. “Although there is still money to be made in Venture Capital, it will not be at the same rate we have historically seen,” adds Rebecca Foreman Janjic, Partner.
Global Interest from PE Industry: “An increasing number of private equity firms will progressively seek international exposure,” said Karen Burke D’Agostino, Partner. “There is a particularly high level of interest in China and India. We are well positioned to address these levels of interest through our Access Search Partners™ partnership.”
Overall, the Polachi team remains bullish on demand for high caliber executives across all of its practice area sectors.
Polachi. December ‘09
How to get headhunted in 2010
Posted by Frank Mortimer in Executive Search, Finding A Headhunter on January 13, 2010
Below an article from Efin.careers. Quite all right although you could add a lot of other stuff to it: P.e. make sure you’re listed in the relevant social networks. Also the time that a candidate waits until he or she is approached by an executive search firm is long past us.
In this day and age candidates are actively involved in managing their next steps and professional online tools are available also to high end candidates (p.e. www.lintberg.com) to get in touch with head hunters and to be informed of new opportunities. Anyway for what it’s worth:
1) Put yourself about
Most articles on how to get yourself headhunted (and there are many), suggest you need to get your name out there. And how better to do this than to become known as a great authority on your subject? This can be achieved via appearances at conferences and frequent citations in the media.
Such things tend to have a snowball effect: once you’ve appeared at a conference or in the press once, you’re more likely to be asked to speak or provide a quote in the future. With luck, headhunters and their researchers will then spot you, add you to their databases and call you when a suitable opportunity presents itself.
2) Frequent the company of respected professionals
If putting yourself about publicly is helpful, putting yourself about in the right circles privately is crucial. All the headhunters we spoke to for this article told us they source candidates through recommendations from people already known to them.
“Most of our people come from referrals,” says Alex Tracey at Clifden Partners. “You need to make sure you have a big network of people who like and rate you.”
“It’s all about the company you keep,” says Ray Baptiste of search firm Marlin Hawk. “Good people recommend good people. Everyone understands that the people they put forward reflect on their own reputation.”
3) Let your frustrations be known
As well as knowing ‘good people,’ you need to let those people know that you’re ripe to be headhunted. This carries the risk that your boss may become aware of your frustrations. However, it also makes it more likely that your name will crop up if one of your esteemed friends is headhunted themselves.
“The most effective way of getting someone to call you is to let your friends know that you’re actively looking and are open to conversations,” says Tracey. “The best referrals we get are those where someone recommends Bob Smith because he’s fed up and will be receptive to a call.”
4) Ensure your clients rate you
As well as asking peers in the market for recommendations, headhunters and line managers will also ask clients for names.
“If we want to hire someone, we simply phone our most friendly clients and ask them who their favourite people in the space are,” says the head of research at one brokerage firm. “We then tip the headhunter off. The same applies for any client facing role.”
5) Be a big earner
This may be a slight chicken and egg situation, but you’re more likely to be headhunted if you earn lots of money and are at VP level or above than if you’re an analyst or associate.
This is because headhunters are paid a percentage fee according to first year total compensation of the person they’re placing. The incentive to move a lowly paid analyst is therefore minimal. However, headhunters do exist to ferret out top analyst/associate talent for private equity funds.
6) Fall into a minority group
Needless to say, you will have little control over this, but your allure to headhunters may be increased if you fall into a minority group. “Most of our shortlists are full of white, upper class males,” says the director of one financial services search firm. “If we find someone who can do the job and who doesn’t fall into this category, they make the shortlist more diverse.”
Predictions for 2010 by Top Headhunters
Posted by Frank Mortimer in Executive Search on January 13, 2010
Paul Hammond, managing partner, Hammond Partners
• There WILL be consequences from the supertax and the new higher rate of income tax. Increasingly, top people in global banks will be asking whether they can relocate. Could lead to a long term shift in emphasis to Asia/HK/Singapore.
• There will be increasing upward pressure on base salaries.
• Banks will have to think carefully about what they do to retain the very best performers, beyond just cash or near cash compensation.
Adrian Ezra, chief executive, Execuzen
• Banks will make a lot more effort to retain existing staff this year – expect a lot of buybacks
• There will be more team moves as hirers look to bring in “complete solutions.”
• There will be greater emphasis on staffing local European offices in countries like Italy and Switzerland.
Ken Brotherston, chief executive, Kinsey Allen International
• There will be significant demand for regulatory risk skills, especially in the light of a potential change in government and its impact on the tripartite regulatory regime.
• There will be focused build-outs of selected areas to ensure genuine global coverage. Capital markets hiring activity is already well underway – expect to see much increased activity in investment banking/M&A hiring. Geographically, Asia will be especially active.
• There will be further changes to the compensation structures of major investment banks as the recent changes have been rushed through.
David Reynolds, managing director Scott Reynolds
• There will be a lot of movement in the rates business if bonus expectations for 2009 aren’t met.
• Last year’s big story was BarCap’s equities build out, this year expect to see more hiring at Morgan Stanley and Merrill BofA as it seeks to rebuild a fixed income business.
• Rising bank share prices will tie people in and make it increasingly difficult and costly to move senior staff in 2010.
Michael Karp, chief executive, Options Group
• Investment banking and M&A in particular will be a major growth area.
• Electronic trading will be at the forefront of equities growth. As markets develop globally and exchanges go electronic, all major financial institutions and investors will look to acquire talent in this field. Technology will play a key role and banks will look for innovative technologist’s to develop their electronic strategies. Hedge funds are getting into the high frequency business as well and as they bid up talent competition in 2010 will increase massively for people with these skills.
• Emerging markets will be a focus for all major financial institutions. EM is a growth opportunity for all and we expect that there will be a free for all in this sector. We have seen massive increasing in hiring in BRIC countries and are seeing hedge funds position in these markets as well. Besides the BRIC countries we see countries like Vietnam, Indonesia and South Korea scoring very well in 2010.
Guy Roberts, chief executive, Pelham Search International
• Equity derivatives has been significantly downsized over the past eighteen months and at some point will need to be rebuilt.
• Banks will continue upgrading and expanding across all other areas.
* Experienced and connected Chinese bankers will remain in strong demand across private banking and corporate finance roles.
Source: Efin.careers
The Lintberg Index: What are your chances for a 100k+ job
Posted by Frank Mortimer in 100K+ job index, CEO jobs, Executive Search, Finding A Headhunter, Uncategorized on August 17, 2009
With courtesy of Lintberg, as of this month we will publish the monthly Lintberg Index of the Netherlands on Huntedhead.com
The Lintberg Index is a monthly analysis of developments in the top 2% of the labour market
The index is a weighted index based on the number of running vacancies, the number of new vacancies, the positions advertising period and the total the number of application on Euro100K+ jobs in the Netherlands based on the input of the market leader Lintberg (www.lintberg.com). A higher index indicates an improved labour market for professionals in the 100k+ segment.
The Lintberg Index for July is 86, risen from 83 in June.
This indicates only a slight improvement compared to June but does show that the growth since the very low April index (63) seems stable.
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