Autumn Edition: September 2004 Print Version Who is the Next Generation of Executive Search? A look at AESC member search consultants under 40 The AESC recently surveyed member consultants under 40 to get a feel for the next gen- eration of executive search consultants: who they are, how they came into executive search, and where they see the industry headed. We received responses from 139 executive search consultants working for 45 different ﬁrms in 31 different countries worldwide. What is their background? Responses pertaining to background information reveal a global, well-educated, and expe- rienced group. Geography Education Previous professional experience The search consultants surveyed had had a wide variety of professional experience before joining the executive search profession. Only about 10% had come straight to the profes- sion after completing their education. Some of the most prevalent background experiences were: Sales and Marketing 16% HR 11% Corporate Management 10% Consulting 10% Banking/Finance 10% Recruiting 9% How did they get started in the profession? Discovering Executive Search Few 8 year olds say “I want to be an executive search consultant when I grow up.” Here’s how executive search consultants under 40 came across executive search and what they say attracted them to it: • 25% were initially candidates who ended up being recruited by the search ﬁrm in- terviewing them. • 25% said they “fell into it,” entered the profession “purely by chance” or “stumbled on it.” • 10% became familiar with the profession working as clients of executive search in corporate HR departments. • 7% really DID say “I want to be an executive search consultant when I grow up” - they had a parent in the business and followed in their footsteps. What They Said... “The attraction to working as an executive search consultant was, and is, that you work as a trusted advisor on top-level assignment, and you are a small part of a puzzle that makes companies more successful by assessing and/or searching for top performing teams or individuals.” Christop la Garde, Korn/Ferry International, Vienna, Austria. Specialty: Life Sci- ences Management Assessment “I was attracted to the combination of creativity, overall business knowledge, and sales and communications skills needed to be successful in the business.” Josh Wimberly, Korn/Ferry International, Atlanta, GA, USA. Specialty: Financial Services “At my previous position as a Technical Recruiter for a software manufacturer, I would watch the consultants from executive search ﬁrms come in to win senior searches. I came to know and respect these partners of ours and believed that I had the right background to excel in executive search.” Aileen Taylor, Eric Salmon & Partners Ltd., London, UK. Specialty: cosmetics, fra- grance and luxury goods industries Getting Started What They Said... “I was attracted by the the possibility of doing something that has the variety and freedom of consulting, but with a quality of life comparable to that of a ‘normal’ manager.” Massimo Canovi, Korn/Ferry International, Milan, Italy. Specialty: the Advanced Technology Sector “Like in any service industry, in executive search the concepts of business devel- opment, consultative selling, and negotiation, are well developed. This motivated me to look at it as a career option.” Nirmal Nair, Ray & Berndston, Mumbai, India. Specialty: the Consumer Products and Services sector Experience in Executive Search Industry A look at how long the younger crowd has been with us. What are their views? What Makes a Good Search Consultant? We asked respondents to tick up to 5 skills/characteristics they thought were the most im- portant for an executive search consultant to have from the list below. Each option shows the percentage of consultants who voted it one of the most important. Communication Skills 69% Interpersonal Skills 60% Integrity 58% Sales Skills 51% Persistence 47% Drive 44% Problem Solving Skills 41% Thoroughness/Detail Orientation 31% Analytical Skills 29% Creativity 28% Entrepreneurial Skills 27% Team/People Management 27% Organizational Skills 25% Diplomacy 21% Global View 17% Conceptual Skills 15% Financial Skills 1% Technological Aptitude 1% What traits are critical for tomorrow’s corporate leaders? We asked consultants As corporate culture and the business world continue evolve, what characteristics do you see becoming more important in corporate leaders of the future? • Integrity - about 50% of respondents singled out this characteristic as a crucial one for corporate leadership in the future. • The second most frequently mentioned characteristic was global awareness - one out of ﬁve respondents cited a global perspective and cultural sensitivity as critical leadership traits. • Other qualities that came up frequently were transparency, understanding of diver- sity and multiculturalism, ﬂexibility, open mindedness, and interpersonal skills. What They Said... “The ability to work across different cultures. As businesses become more global, leaders need to be able to motivate and inspire individuals quite different from themselves.” Elizabeth Sena, Hunt Howe Partners. New York, NY, USA. Specialty: strategy and corporate development “I think that they will need to understand how to manage a virtual work environ- ment. The rules change and policies shift and the upper levels of leadership need to know how to shape things accordingly.” Sarah Lloyd, A.T. Kearney. Chicago, IL, USA. Specialty: healthcare and life sci- ences “Integrity, people management and respect, sensitivity to all those issues that are not directly related to the business but on which corporations have a deep impact (i.e. environment, third world development etc.)” Massimo Canovi, Korn/Ferry International. Milan, Italy. Specialty: advanced tech- nology “Understanding and accepting that there are no permanent enemies, and locating opportunities where present competitors become partners!” Harsh Kapur-Pillai, Boyden. Pune, India. Specialty: Automotive, Engineering, Manufacturing, IT “Intercultural skills, communication skills, charisma, lack of prejudice.” Michael Ostervall, Ray & Berndston. Stockholm, Sweden “The courage to act and change ways of working and rules that seem “given” by the corporate culture or the social environment.” Jana Martinova, Accord Group ECE. Prague, Czech Republic. Specialty: manufac- turing What is most rewarding about working in the executive search profes- sion? What They Said... “My independence - I love it! And the portable nature of the business is a close second.” Debra Ryan, Bonell Ryan Inc. New York, NY, USA. Specialty: banking “Being involved in a myriad of different industries, at the forefront of their devel- opment.” Jed Van Voorhis, Boyden. Taipei, Taiwan. Specialty: IT and consumer banking “I get a kick out of ﬁnding the perfect ‘ﬁt’ - changing one individual’s career and life, while also adding huge value to an organization...one person DOES make such a difference!” Kathleen Yazbak-Chartier, Bridgestar. Boston, MA, USA. Specialty: non-proﬁt leadership “It’s so dynamic and stimulating. There is nothing like being able to work for top companies on exciting, newsworthy assignments. We work for some of the smart- est, most intriguing business people in the world. You can’t beat it.” Pepper Lunsford Binner, Korn/Ferry International. Washington, DC and New York, NY, USA. Specialty: corporate communications and investor relations executives “Successfully placing someone in their dream job.” Pauline Ng, Korn/Ferry International. Kuala Lumpur, Malaysia. Specialty: general- ist “Getting the client to realize that sometimes the right decision/course of action is a different focus to their original plan/thoughts. The buzz is seeing the outcome of our intervention - sometimes a while down the track.” Penelope Peebles. John Peebles Associates. Taipei, Taiwan. Specialty: Geographic - New Zealand and Australia What is most challenging about working in the executive search profes- sion? What They Said... “The competitiveness working in a very fragmented industry (large ﬁrms, bou- tiques, single practitioners, etc.)” Mark Mulvanerty, Korn/Ferry International. Philadelphia, PA, USA. Specialty: Fi- nancial Ofﬁcers Practice “Cold Calling - I work every day at trying to ﬁnd more effective cold calling tech- niques.” Masako Muramoto, Boyden. Tokyo, Japan “Dealing with the negative perceptions of ‘headhunters.’” Sarah Lloyd, A.T. Kearney Executive Search. Chicago, IL, USA. Specialty: Health- care and Life Sciences “Finding new, GOOD candidates. Average talent is easy to ﬁnd, but ﬁnding new, previously unidentiﬁed highly talented individuals, i.e. up and coming people, is much harder.” Alexander Acland, Odgers Ray & Berndston. London, UK. Specialty: education sec- tor “Maintaining a satisfying work/life balance given the time and energy demands of executive recruiting.” Susan Boyd, Russell Reynolds Associates. Atlanta, GA, USA. Specialty: ﬁnancial services industry and ﬁnancial ofﬁcers function “Convincing potential clients of how much value we can add to their business be- yond just hiring someone and why we are worth our fees.” Ildi Nielsen, Cromwell Partners. New York, NY, USA. Specialty: Financial Services What changes have you seen in the profession since you started? What They Said... “We are now seeing clients’ purchasing departments getting involved in executive search decisions. This results in the client focusing more on price, and not always giving as much attention to quality.” Denys Monteiro, FESA Global Recruiters - IIC Partners. São Paulo, Brazil. Special- ty: life sciences, media communications “Competition has deﬁnitely increased.” Johan Nyberg, Amrop Hever. Stockholm, Sweden. IT/telecom and media “It’s taking clients longer to decide when to start a search from a market timing and internal structuring standpoint. They are also having a harder time deciding on ﬁnal candidates. All in all, it’s taking more consulting and hand holding through the search process.” J.W. Ferneborg, Ferneborg & Associates. San Mateao, CA, USA. Specialty: tech, entertainment, consumer products, communications “Technology and availability of information, speciﬁcally the web, have been a boon for research. Database technology has also dramatically improved.” Matthew McGreal, Korn/Ferry International. Chicago, IL, USA. Specialty: board services “Because I only do board search, the changes have been dramatic. I now have a real dialogue with clients, whereas in the past it was much more transaction ori- ented.” Theodore Dysart, Heidrick & Struggles. Greenwich, CT, USA. Specialty: board of directors “All sectors are becoming increasingly international, which means it is important to have a global perspective.” Emanuela Aureli, Korn/Ferry International. London, UK. Specialty: technology “Knowledge of the client’s industry and what keeps them up at night is increas- ingly important.” Gilbert Carrara, Battalia Winston International What changes would you like to see come about in the profession? What They Said... “More transparency, more homogeneity in terms of fees/pricing, in order to try to defend a level of fees or pricing structure.” Pierre Buchsenschutz, Neumann International. Paris, France. Specialty: ﬁnancial services and all lesser known industries “More integrity and a higher barrier to entry into the profession.” Nick Woolf, Norman Broadbent. London, UK. Specialty: Legal “A real delineation in the external marketplace about the difference between Ex- ecutive Search ﬁrms and other forms of recruitment.” Curly Moloney, Moloney Search. London, UK. Specialty: generalist “More training for younger consultants.” Anna Koff, Rosexpert. Moscow, Russia. Specialty: industrial “I’d like to see less transaction orientation and more of a management consulting approach.” Dominik Falkowski, Korn/Ferry International. Warsaw, Poland. Specialty: manu- facturing “I would like to see the search industry become more regulated.” Corinne Klajda, Accord Group ECE. Warsaw, Poland Life Lessons Many consultants ﬁnd their experiences in search have taught them lessons that are use- ful outside of the ofﬁce as well. What They Said... “Never use money as your priority in making a decision.” Shirley Kwong, Korn/Ferry International. Kuala Lumpur, Malaysia. Specialty: in- dustrial, consumer, healthcare “The long term value of Integrity, conﬁdentiality and ethical behavior.” Jesus Castillo, Conteven, C.A. Caracas, Venezuela. Specialty: regional - Venezuela “I’ve learned the importance of integrity and of relationship building. Also it’s taught me that EQ is what matters the most - IQ may get you the job, but EQ gets you promoted.” Carolyn Chan, A.T. Kearney. Singapore. Specialty: Consumer Products, Profes- sional Services Country Managers, Sales and Marketing “It’s taught me how important it is to network well. People are the main key to successful endeavors.” Roy Soon-Tho, Heidrick & Struggles. Singapore. Specialty: Financial Services “Never compromise on integrity. Serve both sides of the table with the same at- titude.” Harald Kringlboton, Amrop Hever. Oslo, Norway. Specialty: CEO function “As a candidate, you need to really understand the company/industry to which you are marketing yourself and tailor your approach to reﬂect that. People can get a long way based on their approach (i.e., personality is just as important as com- petencies in many cases).” Lee Rennison, Ray & Berndtson/Tanton Mitchell. Vancouver, Canada. Specialty: generalist “Never judge a book by its cover and even after reading it something still niggles you, take up others views as a point of reference.” Ian Almond, Norman Broadbent. Birmingham, UK. Specialty: manufacturing, in- dustrial “It’s not all about WHAT you know, but WHO you know. It is crucial to constantly network with present and past colleagues to stay current and stay involved. Most jobs are found through a friend of a friend of a friend of a friend...” Samantha Shuller, CareerSMITH, Inc. El Dorado Hills, CA, USA Specialty: engi- neering & construction Dream Searches We asked consultants if they could perform any search, what would it be? Younger search consultants are a political group: nearly 40% of the dream searches were for government leaders. What They Said... “The next president of Iraq.” Johan Nyberg, Amrop Hever. Stockholm, Sweden. IT/telecom and media “The Controller of digital Radio 7 so that we could get rid of the Clitheroe Kid once and for all.” Aileen Taylor, Eric Salmon & Partners Ltd. London, UK. Specialty: cosmetics, fra- grance and luxury goods “The next board of government in Brazil (following Mexico’s example).” Renata Fabrini, FESA Global Recruiters. Sao Paulo, Brazil. Specialty: ﬁnancial ser- vices “J.Lo’s next husband. Anyone and everyone would be a candidate.” Andrew Hickman, Korn/Ferry International. Dallas, TX, USA. Specialty: technology “I wish I could have a say in the search of my future son-in-law...” Zheng Du, Korn/Ferry International. London, UK. Specialty: Life Sciences “The ﬁrst female President of the United States or female Australian Prime Minis- ter.” Debra Ryan, Bonell Ryan, Inc. New York, NY, USA. Specialty: Banking “The next Prime Ministers of India and Pakistan.” Preety Kumar, Amrop Hever Group. New Delhi, India “Ringmaster of the ‘Greatest Show on Earth’!” Laurie Wilder, Baker-Parker. Atlanta, GA, USA. Specialty: generalist “The Men’s Olympic Basketball Team. (I think the ﬁrm that performed that search should be ﬁred...)” Angie Salmon, EFL Associates. Kansas City, Kansas, USA. Specialty: generalist “A national head of education who could drive fundamental change, raise stan- dards and even the playing ﬁeld for all socio-economic groups.” Susan Boyd, Russell Reynolds Associates. Atlanta, GA, USA. Specialty: ﬁnancial services industry and ﬁnancial ofﬁcers function Closing Thoughts We gave the next generation the opportunity to “sound off” and have their closing thoughts immortalized in print. Here’s what some of them wanted to share: What They Said... “Everyone in executive search business should be an ‘Evangelist’ and promote the business with its positives and added values.” Svetlana Sastinska, Accord Group ECE. Slovakia. Specialty: IT, telecommunica- tions. “I learned very early how important our role is. One wrong move can bring bad consequences to the client company and to the candidate executive’s life. We have to have a commitment to quality and not push a project to an end unless you are absolutely sure it is a right move. We are co-responsible in a wrong decision and with its consequences - as much as with the success.” Marina Vergili, FESA Global Recruiters - IIC Partners. Rio De Janeiro, Brazil. Spe- cialty: Rio De Janeiro region, CIO’s, high tech industry. “In my experience, you can perform Executive Search successfully only if you truly love your job.” Boban Ilic, Neumann International. Belgrade, Yugoslavia. Specialty: Generalist. “Those in the profession need to do more to pool together and “educate” about the importance of our role. In Asia, an abundance of contingency players crowding and confusing the market about what and how we work. Would like to see more professionalism among all that want to play in this game.” Carolyn Chan, A.T. Kearney. Singapore. Specialty: Consumer Products, Profes- sional Services Country Managers, Sales and Marketing. “In question #11, I didn’t checkmark integrity as being important to a search consultant’s success. I did that for a reason... as it isn’t essential that consultants have this to succeed. I believe that integrity is the key difference between simple success & being successful.” J.W. Ferneborg, Ferneborg & Associates. San Mateao, CA, USA. Specialty: tech, entertainment, consumer products, communications. The Case for Volunteerism An Interview with Marian Rich, Consultant, Bonell Ryan Inc. The AESC is proud of the dedication our industry demonstrates towards volunteerism. The Case for Volunteerism highlights a different AESC member’s experience with volunteering in each issue of our newsletter. Q: When did you start volunteering, and what was your original motiva- tion for doing volunteer service? A: I started volunteering when I was in my late twenties. I am a “child of the 60s” and have always felt that there is too much injustice in the world, in our country and in our city – the glaring example being the distance between wealthy and predominantly white communities versus the poor and underserved, primarily Black and Latino communities. I wanted to do something to make a different, to build bridges between communities and diverse groupings of people. Q: Have your motives changed? Has your understanding of volunteerism changed? Why do you volunteer today? A: My motives haven’t changed - they’ve developed as I’ve matured but I’m still basically interested in helping to change the world and make it a better place for all of us. Today I volunteer because I continue to look around the world and here at home and see that there is still so much work to be done! Q: What volunteer organizations are you afﬁliated with and in what capac- ity? A: I volunteer with The All Stars Project, Inc. (ASP), a non-partisan, non-proﬁt 501(c)(3) organization dedicated to promoting human development through the use of an innova- tive performance and development based model. The ASP creates outside of school, edu- cational and performing arts activities for tens of thousands of poor and minority young people. It sponsors community and experimental theatre, develops leadership training and pursues volunteer initiatives that build and strengthen communities. The ASP actively promotes supplementary education and the performance learning model in academic and civic arenas. I have done many things over the years - I was one of the Producers of the All Stars Tal- ent Show Network - the ﬂagship program of the All Stars Project - working with inner city youth to train them to perform and produce talent shows in High School auditoriums in their neighborhoods as a way to build an environment in which they can grow, develop and lead. I am also a founder of the Castillo Theatre, a community-supported professional Off Off Broadway. I am performer, producer, and fundraiser. Q: What is the biggest beneﬁt you feel you have received from volunteer- ing? A: The joy of knowing that we have given hope to people, especially young people, whose lives are often hopeless - seeing young people develop into proud leaders of other young people. The kids give back an enormous amount to the program. We have also built so many bridges between our afﬂuent and middle class donors and the young people in the poor, inner city communities that we serve. I’ve had the pleasure of seeing very different people build with each other and in that process we all discover how much we can build with our differences. I also ﬁnd that when I fundraise for the programs I am giving people an opportunity to give - giving makes us all feel our humanity - that’s an added beneﬁt! Q: Have you had a mentor or role model or other contact you met through volunteerism that was inﬂuential in your life or career? A: Yes. Dr. Lenora Fulani, the co-founder of the All Stars Project - she is a wonderful men- tor and role model. Dr. Fulani is a developmental psychologist by training who has dedi- cated her life to creating environments where people can grow and develop, especially youth from the inner cities. Fulani is an untiring advocate for bridge-building and radical democracy. She (and the All Stars Project) was recently featured on the PBS/BBC docu- mentary called “America Beyond the Color Line with Henry Louis Gates, Jr.” I often think of Fulani when I’m being challenged to go beyond “my limits” - I’ll think of what she has accomplished, with all the odds against her as a Black woman who grew up poor, and then I’ll think “Gee, Marian, you’ve got it easy, all I have to do is meet the challenges posed by a hard search!” Q: Does your ﬁrm have employer-supported volunteerism, and what are your thoughts on employer-supported volunteerism? A: I work for a boutique, retained ﬁrm so we don’t have a formal employer-supported pro- gram but the President of Bonell Ryan, Debra Ryan, has been a wonderful supporter of my volunteerism - both as a contributor and as a friend who supports the volunteer work I do, which is essentially a second career for me! Q: Did you learn lessons or skills through volunteering that you were able to apply in your professional life? Have you discovered aptitudes or inter- ests you did not before know you possessed? A: The skills that I brought to Executive Search are all skills I learned as a volunteer do- ing community outreach, fundraising, and producing. I discovered that I could apply these skills to my professional career when I joined Bonell Ryan Inc. in 1996. The work I’ve con- tinued to do as a volunteer, especially fundraising, has only honed those skills - in fact my two “jobs” (paid and volunteer) continue to compliment each other. Q: Which have you found most valuable personally: Direct Service work, Committee work, or Board Member work? A: No doubt for me it is direct service work - there is nothing like performing a show for an audience made up of people who have never seen a live performance before, or ﬁnding supporters for these wonderful programs, or teaching a teenager from a poor and under- served community like Far Rockaway, Queens how to stage manage a show and develop into a leader of other young people. AESC European Conference Join us in Brussels on Nov 18 for our conference, “Getting Europe’s Business Dynamics Right: A critical challenge for the integrated market.” Visit http://www.aesc.org/conference/europe to view details and to register. E-mail Brigitte Arhold at firstname.lastname@example.org with any questions. We welcome your suggestions and comments about this newsletter! Please e-mail Patricia Korth-McDonnell at email@example.com. If you are having trouble viewing this newletter, you can view it in a web browser here: http://www.aesc.org/HTMLemails/newsletters/esearch/200409.html. Information contained in this communication is intended for AESC members only. Copy- ing, republishing, or redistributing information contained within is prohibited. For a copy of this report approved for release to non AESC members, including the press, please contact Patricia Korth-McDonnell, firstname.lastname@example.org 212.398.9556 x235.
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