Aware of Change
The magnitude of change within the business community in the past ten years has created a new standard of required excellence for executive search firms. There has been an increase in industry consolidation. The general belief within the search industry is that the top ten retained search firms represent only one-third of the total industry revenue stream, underscoring the importance of building and growing stronger, broader and deeper client relationships. Those relationships are essential for client companies when they reach out to employ a firm to find that critical professional needed within their organization. Clients need to know that the process and integrity of the firm they are using is beyond question.
Finding the one individual who stands out from the rest, whose unique skills and qualifications position him or her to be the linchpin for success within a department, division, or the organization as a whole, is the key to an executive search. No longer can search firms depend upon past knowledge, conjecture or trial and error.
As the face of business enterprise becomes more complex, organizations will continue to redefine and expand success competencies. As human resource needs are scrutinized and reevaluated, standards are raised and critical success factors fine-tuned, search firms must remain on the cutting edge of the fast-paced and challenging marketplace if they hope to provide responsible and professional search efforts for their clients.
The search process relies upon two fundamental deliverables: time and information. The client/consultant/culture match becomes the most critical factor in choosing a search firm. The selection of a firm to assist with the talent acquisition task should, therefore, be performed with care and consideration.