Building capability 2012 - Exec Search Techniques & Methodology
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Caroline Grayson from Coke and Carol O'Driscoll from Archer Search run a session on exec search techniques and methodology at our Building Capability Conference 2012
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Building capability 2012 - Exec Search Techniques & Methodology
- 1. Executive Search Techniques and Methodology Presented by: Carol OâDriscoll, Director, Archer Search Caroline Grayson, Head of External Talent Sourcing, The Coca-Cola Company The FIRM Conference September 2012 Classified - Internal use
- 2. Overview of Session ⢠When to use executive search - how it differs from other recruitment strategies and the benefits ⢠Overview of the search process - search methodology - case study ⢠Q&A session Classified - Internal use 2
- 3. When to use executive search Classified - Internal use 3
- 4. The Market Today ⢠Challenging economic times; negative economic news around globe. ⢠Reduced talent demand globally causes increase in talent supply. ⢠Current realities cause individuals to believe talent is easier to find and attract. If focus remains only on active job seekers, we miss half the market for talent Classified - Internal use Source: Building Talent Pipelines, Recruiting Roundtable
- 5. The best talent is often the hardest to find & attract Prospect Types Difficulty Value Recruiting Tactics (1) Active - Unemployed Easy ď´Riskiest to hire, may have left ď´Internet postings and actively seeking a previous role truly on own accord position or may be a potential performance ď´Networking and referrals issue. (2) Passive - Employed Moderate ď´Prospect willing to explore other ď´Internet postings but open to a position opportunities ď´Networking and referrals ď´Prospect may be disenchanted with current employer ď´Contingent and Retained Search Firms (3) Relationship Difficult ď´Any companyâs most prized ď´ Contingent & Retained Search Firms Focused- Employed, employees and typically the high happy, & not seeking potentials ď´ Networking and referrals external opportunities ď´ Internal Executive Search Classified - Internal use 5
- 6. The Value of Internal Search External Search Firms vs. Direct Sourcing Model Consultant managing multiple clients Dedicated internal expert Limited/Narrow exposure to Coca-Cola Understanding of the Coca-Cola system and culture Restricted by off-limits policies Unrestricted access to worldwide talent pool Market intelligence reused for other clients External market intelligence âownedâ by Coca-Cola Short term motivation Long term motivation Build own firm reputation Build Coca-Cola employer brand Motivated to fill immediate hiring needs Pipeline building ahead of Open Requisitions 6 Classified - Internal use
- 7. Overview of the search process Classified - Internal use 7
- 8. Client Briefing Target List Long List Short List Client Spec Interviews Identification Callibration Interviewing Definition with Client Formal Establish Sourcing Due Diligence Referencing Third party timelines and Approaching references Hire deliverables Classified - Internal use
- 9. Leads to the best candidates â not just good candidates Enables a focussed fast start â likely to produce a strong short list- less likely to lead to second and third slate of candidates Better use of time â be most productive Reassures the client that you have a plan that matches their strategy Archer Search Limited Classified - Internal use 9
- 10. Archer Search Limited Classified - Internal use 10
- 11. ⢠Structured and prioritized list of target organizations ⢠Prioritized roles within the target companies ⢠Focus on Organisational structures ⢠Client agreement and buy in from the outset Archer Search Limited Classified - Internal use 11
- 12. Clear focus on targets Helps build Transparency network for of market future coverage Clear Road map if the Client search hits reassurance problems Archer Search Limited Classified - Internal use 12
- 13. Industry Sector Geographic Ownership Scope Size and Complexity Culture Products Off Limits Archer Search Limited Classified - Internal use 13
- 14. Archer Search Limited Classified - Internal use 14
- 15. Search firm does Can lead to Pressure for fast not meet client unclear briefing at start Does not have search firm â˘starts work without chance to: â˘Not enough time clear brief â˘Consultant thinks â˘Lack of focussed ⢠get feel for client telepathically target list need/culture â˘Too many calls â˘Does not know all the â˘Chance to ask answers â but wonât â˘Good but not the best research related reveal this! candidates questions â˘Search takes too long â˘Team lacks calibration â˘Describe client points to ensure on â˘Restart needed effectively on calls spec candidates Archer Search Limited Classified - Internal use 15
- 16. Search firm takes Agree Target List with Initiative Client ⢠Does background research on ⢠Agree on âconcept candidatesâ client ⢠Identify relevant sources and ⢠Identifies market trends/issues prospects quickly ⢠Identifies âconcept ⢠Make targeted calls candidatesâ â to calibrate with ⢠Report feedback to Consultant client quickly ⢠Suggests and agrees timeline ⢠Flag any potential with Client issues/challenges Archer Search Limited Classified - Internal use 16
- 17. Archer Search Limited Classified - Internal use 17
- 18. Reason for the Key responsibilities Key Challenges of role? for the role the role ⢠New role ⢠P&L ⢠Turnaround? ⢠Internal ⢠Management ⢠Growth Agenda? restructuring? remit ⢠Replacement â if ⢠Reporting so why? Structure ⢠Functional remit? â marketing/sales ⢠Business Development? ⢠Years of experience needed ⢠Progression Opportunities Archer Search Limited Classified - Internal use 18
- 19. Geographic Responsibilities Concept Candidate ⢠Area covered ⢠Does the client have an ideal ⢠Amount of travel required profile in mind? ⢠Personality fit with the Client- ⢠Relocation? what personality would fit best with the team? ⢠Which companies does the client admire â or not? Education/Professional Specific Competencies Qualifications? ⢠Leadership ⢠MBA ⢠Strategy ⢠Cultural Awareness ⢠Cert Eng ⢠Executing for Results ⢠FCA ⢠Driving change ⢠Languages? ⢠Functional Knowledge Archer Search Limited Classified - Internal use 19
- 20. Archer Search Limited Classified - Internal use 20
- 21. Archer Search Limited Classified - Internal use 21
- 22. Centre target direct competitors Companies who interface with the client Lateral sources of candidates Archer Search Limited Classified - Internal use 22
- 23. Allianz Boots Glaxo SmithKline Coca Cola Diageo Heinz Unilever Procter & Gamble Colgate Palmolive Reckitt Benckiser Gillette Tesco Apple Google Visa Ikea Archer Search Limited Classified - Internal use 23
- 24. Geographic Scope Scale Of company Financials Of role People Geographic Breakdown Profitability Where are key challenges? Size of division Size of parent company Ownership Culture Publicly Quoted Hierarchy v Matrix Private Equity Academy Companies Family owned Consensus building? What would be best fit? Which does the client admire? Archer Search Limited Classified - Internal use 24
- 25. Sector Products Market Leader Core products Competitor Companies Related Products -Competition clauses? Brand Profile Lateral thoughts International brands Off Limits To client To Search Firm Archer Search Limited Classified - Internal use 25
- 26. Archer Search Limited Classified - Internal use 26
- 27. Complete identification Targeted within target Agree target sourcing to companies prospects with Make approach establish most Consultants and calls Via ID/desk relevant who calls who research and prospects sourcing Archer Search Limited Classified - Internal use 27
- 28. Ensure you connect all the pieces Use teamwork to make it happen! Archer Search Limited Classified - Internal use 28
- 29. Always use a well defined search strategy When search goes Use the search astray, revisit the strategy criteria and search strategy framework Define prioritized Develop a list of target roles within target segments and target organizations organizations Ensure search strategy is agreed by consultant and client Archer Search Limited Classified - Internal use 29
- 30. Responsibilities Attraction Reason for the ⢠Total ⢠Compensation role revenues/budget (base, bonus, ⢠Reason for vacancy ⢠Reporting lines equity, pension) ⢠Confidentiality (solid and dotted ⢠Career progression ⢠Impact of company line) ⢠Title strategy âM&A? ⢠Total number of ⢠Location ⢠Internal candidates people reporting to ⢠Broadening him/her skillset/experience ⢠Geographic Scope ⢠Key challenges Archer Search Limited Classified - Internal use 30
- 31. Business Organization History Organizational Structure Other Issues Financials Direct Reports Off limits to client Subsidiaries and Search Firm Management team Place in the Culture Current Company market Strategy/News Diversity policy Future plans Key competitors Products/Brands Strategy Ownership Archer Search Limited Classified - Internal use 31
- 32. Archer Search Limited Classified - Internal use 32
- 33. Archer Search Limited Classified - Internal use 33
- 34. ď Conferences ď Professional ďĄ Speakers Organisations ďĄ Companies ďĄ Member companies ďĄ Sponsors e.g. â50 Golden Brandsâ Marketing Society ďĄ Committee Professional organisations can be a quick Members Source of relevant sources and prospects ďĄ Award Winners ďĄ Market Themes and Issues Archer Search Limited Classified - Internal use 34
- 35. ď Know your market ď Brainstorm ď Peer Listing from resources e.g. OneSource, Dow Jones Companies and Executives ď Competitor Intelligence Reports ďĄ Market Research ďĄ Analyst Reports ď Newspaper Stories quoting market leaders ďĄ e.g. Guardian Media reports ď Lateral Thinking ďĄ Similar or related markets which could produce âleft field â prospects Archer Search Limited Classified - Internal use 35
- 36. ď Thinkabout the sources of information ď What are the sources of the information ďĄ Are they credible? ďĄ Can they be verified ďĄ Is there a political/hidden twist? ď Document potential challenging issues for due diligence to follow up Archer Search Limited Classified - Internal use Archer Search Limited 36
- 37. Overview of the search process â Coca-Cola Case Study Classified - Internal use 37
- 38. Research to determine search strategy and target list âŚ.both Coca-Cola and Pepsi-Cola saw current value sales decline in non-cola carbonates and other product areas due to strong price competition from economy brands and private label productsâ Leading domestic players such as Maspex also began to invest more in new product development and marketing towards the end of the review period. Euromonitor. Soft Drink Market Poland In-house advantage! Access to industry reports Classified - Internal use 38
- 39. Marketing Activation Director Poland Draft Target Company List The search strategy covers 2 main areas: Leading multinational fmcg companies with significant operations in Poland. Leading domestic players in Poland. In these companies I will target executives who also have experience in navigating a complex international organisation. In addition, I will search for Polish expats who are open to relocate back to their home country. FMCG Multinationals Domestic players Carlsberg FPH Marwit Colgate Palmolive Herbapol Danone (Zywiec Zdroj) Hoop Kraft (+ Wedel) Maspex LâOreal Naleczow Zdroj Mars Nestle Pepsico Philip Morris Procter & Gamble Reckitt Benckiser Unilever Classified - Internal use 39
- 40. Identify sources and prospects When calling sources try have some names to prompt them. In-house advantage! Source our own employees Notes on size /scale market positioning etc Classified - Internal use 40
- 41. How to find sources & prospects Speaker lists from conferences Press releases Classified - Internal use 41
- 42. Present shortlist and observations Classified - Internal use 42
- 43. Questions? Classified - Internal use 43
Hinweis der Redaktion
- 45 mins sessionWho we are â quick run through of the sessionPlease note down questions and weâll open the floor at the end
- Exec search is not the right strategy for all positions however we do know that traditional recruiting only reaches 50% of the labour market -- the active job seekers.Passive talent does not always take advantage of networking opportunities like LinkedIn -- only 14%Those employed are staying at current companies in the uncertain economic times (talent harder to recruit).Additional interesting point is that acticve job seekers continue this behaviour and are more likely to become active job seekers in the future, leading to higher staff turnover.
- So we use a number of different recruitment strategies to fill our open positions. And where we have senior, critical roles (for KO this is marketing) where we know that the prospects are relationship focussed we use exec search as I guess many of you do â we just happen to have built a global inhouse search this capability.
- Our internal search team gives us a number of benefits vs a search firm.Of course there are occasions, maybe a niche role, issues of confidentiality where we still use search firms and the methodology we use (given that our team all have search industry experience from the likes of RRA, KFI, SS) is exactly the same.So carol, who has trained many in the art of search over the years is going to now explain the methodology and afterwards Iâll share a real life example from Coke.
- Too many hand offs:Within client organization, e.g. from the line to HR, from one region to anotherWithin search firm e.g. across offices or from Partner to Executing Associate.Too many or wrong targets
- Illustrate with what client typically thinkingWhat consultant typically thinking â BD, fees, strengthen relationshipResearchers should go prepared to briefing meeting with consultant â do background on potential client, read any internal documentation re business pitches etc. Researchers should go prepared with at least 3 key (ethical) questions to ask
- Ideal candidates= Branson, knows what customers want- branding, Oprah, diversity, successful, Stephen Fry â intelligent, diversity, Dalai Lama- integrity- trustworthy? Madonna- visionary, reinvention, new thingsDefine the spec but try and be realistic and guide the client accordingly
- Free v other information resourcesLogicon and brand channel provide conferencesEuromonitor speciality sourceMessage is use a mix of different sources to pull together information
- Reference to Guardian means stories listing leading companies in market- also mention other broadsheets eg Daily Telegraph. Make point that Times and FT charge for content
- Example of Indian office using unverified Wikipedia information for BD visit â need to verify sources of information. Critical Awareness.
- Case studyOpen position â marketing dir poland â â wanted a local so looking external for talent - fix briefing call with hiring managerBefore briefing did some basic research on the market in Poland â who are major players etc Euromonitor reports â software , consumer goods etc â which your company may already subscribe to (industry insights part of M&A at KO)after briefing define target list â so again using reports and web research I built target list by reading market reports â in-house advantage! Also looked at the websites of the target coâs for additional info â some list exces on their site too.
- Built target list of both multinationals and domestic players.In Poland we have a great reputation
- This my own working doc â donât share this with the HM â a structured way to make sure Iâve covered every company.Methodically work through each company â finding sources , propsects â other relevant info.Always useful to remember scale/size etc of target coâs â so if the target co is the market leader, maybe Iâd target a marketing mgr not marketing Director or in a smaller local player maybe a marketing dir would see a MM role at KO as a step up.
- Use linkedin more now that Iâm in-house and donât have an established database â but we are building our own.Call not inmail â engage in conversation â build network - learn about market -