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Step 1
A Brief Buying Guide: Executive Search Service
First --- Define what you want the hired candidate to actually accomplish once she or he is hired. This is not a job description---rather, it is a "to do" list "by when". If you are seeking a new President, CEO, CFO, etc., I would suggest that you take out a piece of paper and begin by making a short list of what you want the hired candidate to accomplish by when. Don't worry about required attributes or years of experience....yet. Simply jot down: 6 -12 and 24 month horizons.....and then list specific deliverables below each time horizon. You will be amazed how much this will help focus the discussion around your real needs. A good search firm will work with you to prepare a first rate Position Description to explain the content of the job, company vision and historical performance, culture, hired candidate experience, attributes, work style and other important factors designed to help market the job in an effective manner. But you, as the hiring executive or search committee chair, must supply the "Deliverables-By When" component. The candidates really appreciate this kind of information since it helps them visualize what they must do -by when, to succeed in the job. This is a KULPER & COMPANY innovation that we have not seen elsewhere---It could easily be incorporated into any position spec---Suggest it to your firm and see what the principals tell you or please contact us. -
Step 2
Second---Ask your friends and colleagues for recommendations of search firms who they think can help you find a candidate who can produce the deliverables you are seeking to fulfill....show your friends the list of "Deliverables-By When". You can supplement this effort with an internet search of executive search firms with expertise in your industry or geographic region. When you call the search firm -share the deliverables with the firm and see what the response is. Certain deliverables are harder to fulfill ---some are fairly routine...This kind of information is so much more useful to both the firm and the client since some firms will bow out early based upon what they perceive as the degree of difficulty and likelihood of success for the search. Make sense?
I think the most important thing to try to understand is how the search will be executed-once you have a short list of potential search firms in mind. This presumes that you have already discussed the search fee, out pocket expense reimbursement expectations and other cost elements that are routinely articulated in the Consulting Agreement. So, before signing the Consulting Agreement it is very important to understand the work process utilized to get the assignment done.
Each step of the process is important and can have a positive or negative impact on the outcome. Listen to how clearly the principal describes the steps of the search process. Show the principal your list of deliverables -by when and then sit back and listen. The principal may start the conversation by talking about the firm's specific experience handling a search like you have in mind----Who does what in the process? Research is a key element because it is during these very first conversations that the candidate learns about the hiring company and the deliverables of the job----Who handles that first conversation? Is it the lead consultant directing the search, a "researcher" with plenty of experience or a first year staff member? Who would you rather speak with if it were you receiving the call from the search firm? Follow that sort of step by step discussion and you will learn a lot about the quality of the firm-how well they know their business and how professional they sound on the phone. -
Step 3
References: All Important -but often overlooked
A very key element that can often be given too little consideration by the client and the search firm is the Reference Report completed for the finalist candidate prior to making the verbal or written job offer. Newspapers are rife with stories of embarrassed clients who had to terminate a recent hire upon learning that he or she falsified an academic or work credential.....very unfortunate and easily avoided by a search firm that does a thorough job of verifying academic or employment credentials. Ask about this kind of due diligence effort as it can save you a great deal of time and expense when properly handled by an experienced search firm and their agents.
Wrap up your discussion by asking the "acid test" question. What is the success rate of the search firm? Ask about any failed searches and why the search failed. You will learn a lot about the integrity and experience of the search professional by his or her responses to your questions about failed assignments. For example, was the client "blamed" for the failure? If so, why? You might learn a lot about how not to behave-as a client! Or you might learn that the big name firm you are checking out is more about "name brand flash" and less about solid performance and first rate outcomes. After all, no one got fired for hiring IBM to implement their computing solution.....that is, not until the worst happened and the project went awry. No one on the board is impressed with a big name provider who doesn't get the job done well at the end of the project.....so do your homework and choose well.
Options are important---try to talk with at least three or four search firms before deciding on who to utilize....Ask to see the document that describes the search process, as well as information about specific completed searches similar to the one(s) you need to have completed. See if the firm offers to show you an example of a Position Description for a recently completed assignment---you will learn a lot from reading that over. How well written is the document? It is presented in a clear -creative and compelling manner? Would you be interested in talking with the hiring team (if the shoe were on the other foot) after reading it? How does the search professional who would handle and oversee your assignment sound to you on the phone---enthusiastic, professional, experienced, upbeat? These are all important considerations.
