Search-Lites: Notes and News of Interest

June 2012

This quarterly publication is designed to highlight trends and information of interest from executive search and in the business sectors in which my practice is built.

Over the last several months I have had several clients ask about our capability in Mexico. Boyden has offices in over 40 countries, but I have had more occasions to partner with our Mexico City office on assignments in which our U.S. clients are expanding and upgrading their presence in Mexico. Boyden has a great team in Mexico City, so please contact me if expansion into Mexico is in your plans. And, of course, should you have any recruiting needs here in the U.S., please let me know.

-Doug Ehrenkranz

State of the Search Industry

In a recent industry study, 37% of executive search consultants surveyed held a positive outlook for the industry, 49% were neutral, and 14% negative. Sectors predicted to see the most growth are Energy/Natural Resources, Technology, and Healthcare/Life Sciences. The biggest source of weakness is in the Financial Services sector, specifically in investment banking. Globally, demand is strongest in North America, followed by Latin America, with Europe and Asia markets falling behind.

According to ExecuNet’s 2012 Executive Job Market Intelligence Report, Consumer Products and Industrial executive hiring trends continue to climb. The prediction for this year is holding, with Industrial climbing to #3 behind Healthcare and Technology. Consumer Products continues to grow, jumping up to #7.

Access the Boyden Executive Outlook

Nothing Trumps Integrity

The last 90 days have brought a barrage of press about alleged issues at Chesapeake Energy, Yahoo!, Best Buy, Green Mountain Coffee, and Diamond Foods. In some cases, even search firms were swept into the discussion. Couple that with the notable insider trading cases unfolding and it sure makes you stop to reflect. Without commenting on the specifics, it reminds all of us just how important integrity is in everything we, and our organizations, do. Period.

Hire People Who Fit Your Team's Culture

While a very high percentage of candidates we recruit succeed and do well in their new company, it is not always the case. In those situations in which a new recruit does not work out, incompatibility with the company’s culture is, many times, the culprit. Knowing your company's culture is the first step to hiring promising candidates. Marty Parker, a human capital consultant, suggests taking quality time to think about the core values your organization holds dear, then working to only hire the people who will thrive in that culture.  Read more here.

So You Think Recruiting Looks Easy......?

People often joke with me about how simple my job must be. I have to tell you, I truly enjoy recruiting, and it’s a good thing…because it is definitely not “simple."

Taking two subjects I’ve referenced above (culture and integrity) is part of what makes recruiting especially important and challenging. Finding the “hard-wired” skill set is normally not the challenge; but determining, for example, cultural fit with the company, individual fit with a given hiring executive or management team, and, in many cases compatibility with existing direct-reports are where a good recruiter adds value. Miles Jennings, Co-Founder and CEO of Recruiter.com says recruiting “involves the deep study of companies, products, markets, assessment, and professions coupled with a kind of brute force stamina to doggedly pursue the talents of other people."

I think you’ll enjoy the article below from Recruiter.com.

Click Here to Access the Article

Making Sense of Social Media

Most every company I know continues to wrestle with social media. The link below considers “how to realize the potential of nebulous, hard-to-measure, consumer controlled media." McKinsey partners David Court, Roxane Divol, and David Edelman discuss how to harness social media to create interest in your brand, the importance of driving traffic to your online presence and who is doing the job well.

Watch McKinsey's Video Series Here

The Boyden Thought Leadership Series - Yours Anytime

I am also including a link to Boyden’s complete Thought Leadership Series, which covers a broad range of topics you may find interesting.

Click Here to Access Boyden's Thought Leadership Series