September/2012
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BOB Newsletter
Executive Search & Management Consulting Since 1979 
In This Issue
HOW EXECUTIVE SEARCH REALLY WORKS
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SEARCHES

Please think of the excellent people you know who might be interested in hearing about these outstanding opportunities.

 

Our Searches  

 

President

Aerospace Components

 

Chief Technology Officer

Aerospace & Defense Manufacturer

 

Senior Vice President of Operations

Aerospace Metals Company

 

Vice President of Engineering

Designer of Critical Test Instrumentation and Tracking Systems

 

Vice President of Operations

Manufacturer of Complex Machined Aerospace Components

 

Vice President of Sales & Marketing

Aerospace & Defense Electronic Components Manufacturer

 

Vice President of Business Development - Commercial OEM's

Aerospace Component Provider

 

Senior Executive (VP Level)

Textile Conversion for the US Military

 

Director of Quality

Defense Textile Manufacturer

 

Director of Environmental/Health/Safety/Risk

Manufacturer of Aerospace Products

 

Meet The Principals

Mark Bregman

CEO 

Mark Headshot

 
Michael Boyle
President

 

 Mike Headshot
 
Keith Ogata
Principal

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 US HIRING CHALLENGES

Hiring managers are frustrated. There are more applicants than ever for each position, and it is harder than ever to separate excellence from mediocrity.

 

Check out our Infographic on U.S. Hiring Challenges below!

HIRING CHALLENGES

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Greetings!

In this issue we talk about How Executive Search Really Works.  Before you read on we wanted to share a few words in remembrance of 9/11.  This year is the 11th anniversary of the September 11th tragedies.  Our nation faces a season of political turmoil, economic uncertainty and polarization that drives factions apart.  On September 11th we come together in strength.  Individual strength that comes from how we rise to meet our own challenges, how we reach deep to access our highest and best resources at the times we need them most.  We come together in strength as a country, with pride and honor for our freedoms, and what we stand for at home and abroad.    We wish you peace today and a safe and secure tomorrow.

HOW EXECUTIVE SEARCH REALLY WORKS

CURTAIN   

 We did not play golf last week with the ideal candidate for your job. Sorry, we are also not having lunch today with such a person. Many employers are fascinated by the mystique of the executive search business, and many also have misconceptions. The largest misconception is that the right candidate is already in our hip pocket - that we already know the person you want to hire. We might know that person, but the odds are, we need to plan and execute a methodical process to find the right person. Executive Search is an Art and a Science. When done well, it yields an "A" Player who can produce tangible results, and probably, someone that the employer would not have had access to on their own.

 

"Begin with the End in Mind." - Steven Covey's Habit #2, The Seven Habits of Highly Effective People

 

To get the right outcome, you have to begin with two things: A precise definition of the "must haves" for the candidate, and a road map of how to find the right prospects. Most employers use a job description focused on responsibilities, background and experience - mostly focused on the past. However, the "must haves" are actually about the future - what you need the candidate to accomplish in the job - precise tangible, measurable, performance objectives. Only by defining such goals can an employer and search firm partner to find someone they can predict will produce the required outcomes. You could hire lots of people who look like they've had the right experience, and have had similar responsibilities, but can they DO the job? To answer that, we have to define clear objectives.

 

The second thing is a road map to find the prospects:   Rather than searching a file drawer or a data base for who kinda looks like your candidate (then using a "shoehorn" approach to getting you to see that person), a good search firm sources for the position from scratch. We ask you for companies you regard as competitors, adjacencies to your niche, how closely do you want the experience to fit? From this detailed analysis, we identify more companies, and then the right positions within the right companies that might fit. The candidates we identify as prospects are "passive" - they have their heads down, doing a good job, and are NOT looking for another position. They do not have their resume on Monster and Career Builder, they are not networking with the people in your personal rolodex, and your HR department is very unlikely to find them. Access to excellent "passive" candidates is a primary benefit of executive search.

 

So that's the science:   A precise, forward-looking job description focused on performance objectives, and a precise list of targets that will yield someone who is a great fit. Now what?

 

If you have cast a wide-enough net, the initial target list for an executive position will include 150-200 people. Working people. Busy people. It takes about 4-5 outbound calls, 2-3 voice mail messages and 2 emails to connect with 60-70% of this list. That is 1000+ attempts, to reach about 100-120 people. It takes a relentless communication campaign.

 

Next, the basics: Is the person interested?   We have to develop a sincere understanding of what would motivate someone to consider a change, and make sure it aligns with what the employer offers. Qualified? We have to provide just enough info to allow the person to consider the opportunity, and we have to gather enough info to see if this individual meets the basic requirements - right industry, right functional experience, etc.   It is during this initial phase of contact that most candidates are ruled out: Either they are not qualified, or not interested, or both. Part of the art of executive search is making sure we get referrals to other qualified prospects from everyone that gets ruled out.

 

Now the fun starts. Now we have people who appear interested and qualified - perhaps 20-25 out of the 100-120. There is extensive give and take between the recruiter and the candidate to get more detailed information, to probe for reasons for job changes, to discover initiatives and real accomplishments, and very importantly, to get the candidate engaged and excited about the opportunity. Interestingly, the performance objective screening process not only provides clean, clear data on capability, but also actually serves as an excellent recruiting tool. Employed candidates who don't need a new job are very interested in learning the challenges that would be set before them in the potential new position. As they sort through their experiences, and see what would apply, what will enable them to be effective in the new role, their interest level increases. This screening process usually cuts the field in half again, as we discover glitches in track record, lack of alignment with new objectives, or simply lack of fit in your culture.

 

The short list of 10-12 people is further refined to discover who will be the best fit. This gets into subtleties like personality traits - does the candidate have the leadership potential you need? What is the likelihood of the candidate accepting - how is their current comp and other perks compared to what you can offer? How likely is a move - what obstacles might there be in relocating? References - what will past employers say about them? And with all the objective data in our possession (the science), what is our intuitive feeling (the art) that this is the right person for you?

 

After all this, the slate is presented to the employer - usually 3-5 people. If everyone goes well, if the profile was accurate at the start, a selection is made (see the image below for an example of what this looks like). A good executive search firm participates actively in the offer, pre-closing on all non-monetary issues first, then presenting, negotiating and closing the candidate. We also assist the candidate in the transition process - advising them how to resign and ensuring there are no last minute surprises.

 

Funnel 

 

Most people think that what executive search people do is very cloak and dagger, filled with secrets. You might be surprised to learn that the vast majority of our communication is very transparent. We will show our employer clients anything they want to know about what companies and people we are pursuing. Unless we are engaged on a confidential replacement search, we can typically give candidates lots of information about the employer and the position.

 

So that is how it really works. It requires precision, in defining the role and the target prospects. It is a bit of a numbers game - you need enough prospects to ensure a good selection of candidates. Executive search requires a certain relentlessness in reaching enough people, and a rigorous screening process to separate excellence from mediocrity. We often play therapist to both employer and candidate to truly understand their needs, fears and frustrations. Our quality control must be uncompromising.

 

That is how excellent hiring gets done.

 

 
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