search-consult issue 21

www.search-consult.comS U B S C R I B E O N - L I N E

20

04

/

I

SS

UE

2

1

COMING UP

IN FUTURE

ISSUES:Search To Search Board Diversity

in GermanyLife Sciences -

Part 2What Your

Clients Want?

The International Executive Search MagazineThe International Executive Search Magazine

Executive Search Associations

Talent in the Life Sciences SectorPart 1

Executive Searchin the Middle East

Focus on Interim Managementin Developing Countries

Executive Search Associations

Talent in the Life Sciences SectorPart 1

Executive Searchin the Middle East

Focus on Interim Managementin Developing Countries

Interviewwith Brian Sullivan,New CEOof Christian & Timbers

Interviewwith Brian Sullivan,New CEOof Christian & Timbers

US: +1 (201) 795 1202 UK & Europe: +44 (0)20 7749 6100 Germany: +49 (0)69 27 40 15 807Australia/Asia: +61 2 9006 1194 Rest of the World: +44 (0)20 7749 6100

[email protected] www.dillistone.com

USA • UK • GERMANY • AUSTRALIA

SPECIALIST SOFTWARE FOR EXECUTIVE RECRUITMENT

Executive Search. Executive Search. Executive Search. Executive Search.Executive Search. Executive Search. Executive Search. Executive Search.

Unlike most of our competitors,


we focus on the Executive Recruitment sector.


If your software supplier is more interestedin lower level recruitment than Search,


then reading between the lines,you may be better off with us.


Dear search-consult,

Your recent article “The Largest Search Firms in the World” correctly outlined some ofthe major trends developing within the search industry as we recover from probablythe worst decline in our history. The search and recruitment industry is seeking waysto respond to our clients need to reduce the number of search and recruitment suppliersto obtain economies of scale and obtain a uniform Level of Service. As the traditionalboundaries between “C” level search and specialist recruitment blur and traditionaltop level search methodologies are used for lower management and specialist positionsfew firms are able to respond to a clients full spectrum of requirements eitherby level of search/recruitment or by geographical coverage.

Our industry is even more poorly placed to respond to these needs when requirementsare multinational or even global. Most networks or even integrated firms who havegrown through acquisition or merger, in my opinion, fail to offer clients what they areseeking because of different cultures, traditions, methodologies, and projectmanagement tools just to mention a few of the most obvious difficulties. In additionthere are no search/recruitment organisations that have anything approaching doubledigit market share on a global basis. The current scrambling to put togetherinternational networks or groups does little to provide the solution our clients areseeking.

Is there an alternative? There are several franchised networks that can offer theadvantages of the traditional “boutique” while providing global capability. By farthe largest, longest established and best known is MRI – Management RecruitersInternational. This, almost 40 year old organisation (established 1965), currentlycomprises well over 1,000 offices in North America, Europe and Asia. Consistencyof methodology and training (and therefore to a considerable extent standards)is guaranteed by an award winning continuous training programme. This trainingis available at the desk level (using special internet and Centra based trainingprogrammes) in office (with qualified, full-time trainers plus videoconferencing) andat regional locations. The MRI training staff currently numbers over 25 full-timespecialists ensuring a high standardisation of training, process and delivery.

In addition MRI has established a specialised group - Global Talent Management -that monitors the specialisations and metrics of offices throughout the network.This enables MRI to determine which office or offices are best qualified to be involvedin a particular project, thereby ensuring that each project is allocated the most qualifiedMRI resource – thereby guaranteeing a high Level of Service. This has enabled MRIto handle projects for major international clients across many countries withcentralised billing and single point of contact at corporate level while allowing MRIstaff and client management to define the project and requirements at a local level.

MRI has not yet found the “golden bullet” but I believe we are well on our way to offerour clients the best combination of global delivery, standardised Levels of Service,local presence and sector specialisation. In short the art of Serving Globally whileWorking Locally.

Yours sincerely,John SteelePresident MRI Manserv AG

S E A R C H - L E T T E R T O T H E E D I T O R

3ISSUE 21 2004 search-consult

search-consult

MANAGING DIRECTORJason [email protected]

EDITORIALPilar [email protected]

PRODUCTIONMargaret [email protected]

ADVERTISING/SUBSCRIPTIONS/REPRINTS

UK and EuropeNorth and South AmericaSouth East Asia and Australia

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or log on towww.search-consult.com

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search-consult is published by Dillistone SystemsLtd, Calvert House, 5 Calvert Avenue, London, E27JP, United Kingdom and printed by Mr. Bloom Ltd,Sopot, Poland, www.mrbloom.com.pl.All statements, opinions, and expressions are thesole responsibility of the authors and the Publishersreserve the right to amend/alter articles asnecessary. The Publishers cannot be held responsiblefor any loss or damage, however caused, of anymaterials supplied. Any materials supplied maynot always be returned. No part of this publicationmay be reproduced in any format without priorwritten consent of the Publishers.

© Copyright 2004 Dillistone Systems Ltd

ostering client relationships isvital for a successful search andit is what motivates Christian &

Timbers, and especially Brian Sullivanas the new Chairman and CEO of thisorganization.

The newly appointed head ofChristian & Timbers has close to 20years of experience as a leader in theexecutive search industry, mostrecently as Vice Chairman at Heidrick& Struggles International, where heserved from November 1999 to March2004.

In 1988, Brian founded Sullivan &Company, a fast growing financialservices search firm that was acquiredby Heidrick & Struggles in 1999. Hewas appointed the first Global Head ofHeidrick & Struggles’ FinancialServices practice and in the short spanof a year doubled the size of thepractice to $150 million in annualrevenues, creating the largest everpractice in the executive searchindustry.

I n r e c o g n i t i o n o f h i saccomplishments, Brian was appointedVice Chairman in October 2001 andgiven responsibility for the firm’s majoraccount relat ionships across al lindustry practices. He also ran theHealth Care, Industrial and Consumerindustry practices, and the firm’sfunctional and focus practices, alongwith the diversity services effort.

Nevertheless, differences with thecorporate culture at Heidrick &Struggles persisted and Brian beganto contemplate establishing a newsearch firm or joining an established

one where he felt his core values andvision would be better suited.

THE PERFECT MATCH

Meanwhile, Christian & Timbers,considered among the top 10 searchf irms in the United States, wasestablished in 1980 as the first high-tech search f irm. The New Yorkheadquartered f i rm, which wasfounded in Cleveland, was sooncompleting significant top-tier searchwork nationally and internationally bythe late 80s and early 90s. From thatstrong base, the firm was tapped tobring Carly Fiorina to Hewlett-Packard.With these strong roots, this searchfirm is well positioned to be an evenmore s igni f icant global player.Christian & Timbers was looking for aleader with an outstanding reputationand the appropriate vision to take thefirm to the next level. As a result, theperfect match was established.

Brian Sullivan considers that thereis an alignment between his and thecompany’s philosophy. “The partnersand staff at Christian & Timbersdemonstrate in every assignment thededication to the principles that Ibelieve constitute an outstanding firm-- that is, relentless focus on servingclients, teamwork, unrivalled industryknowledge, flawless execution andtimely performance and completions.”

Mr Sullivan explains that whatattracted him to Christian & Timberswas the calibre of the people and theenormous potential he saw in thebusiness. “There is something hereand it is all because of the client

service, and I want to become part ofthat culture and I want to expand thatcul ture and use that as a corefranchise.”

BROADENING THE POSSIBILITIES When asked what h is main

objective as CEO is, Brian Sullivanresponded that his aim is to maximizethe assets of the organization and tomaximize the client relationships withinthe firm.

The CEO o f th is New Yorkheadquartered search firm describeshow the technological pract icehistorically has been NASDAQ sizecompanies. He now intends to movethe company forward by gravitatingtowards more of the Fortune 500 typecompanies and larger accounts.

Within this context, he explains thecurrent client profile is distributed:“less than 50% is sof tware andhardware. The remainder of thebusiness is industrial, healthcare andlife sciences, media and entertainment,telecommunications and financialservices.”

Over the long-term, Mr. Sullivanhopes Christ ian & Timbers wil lbecome a real generalist business. Forthe newly appointed CEO, “theinfrastructure is there. There are 1 to3 partners in each of those segments.”

“What is needed,” he adds, “isgeographic reach and once the firmachieves that, “we are going to have alot more impact in the marketplace andthen we are going to allow our clientsto dictate where they need us.”

Mr. Sul l ivan sees London as

4 search-consult ISSUE 21 2004

A CEO That Places The Client FirstBy Jason Starr and Pilar Gumucio

S E A R C H - F E A T U R E

F

Brian Sullivan

S E A R C H - F E A T U R E


strategic for the firm’s Europeanoperations and either Hong Kong orTokyo as crucial for anchoringbusinesses in Asia Pacific.

In the case of the UK’s capital, heexplains that Christian & Timberspresently have an agreement withRenoir Partners that works fantasticallyi n t h e t e c h n o l o g i c a l a r e a .Nevertheless, Mr. Sullivan considersthat it is very important to be able topresent clients with a broader offer.

For instance, “the financial servicescomponent will absolutely need aLondon operat ion ver y quicklybecause the cross border searchbusiness in financial services is verygenuine.” He adds that this will alsobe the case as the firm’s other industrysectors are built up.

As a result, Piers Marmion, who iscurrently Chairman of Renoir Christian& Timbers and was CEO of Heidrick& Struggles from 2001-2003, and BrianSullivan are exploring ways to deepenand formalize their current relationship.This should be decided within theupcoming months.

S T R E N GT H E N I N G C L I E N TRELATIONSHIPS

The role that executive search firmsplay with their clients is changing. Ithas moved from client-vendor to thatof partners for long-term growth.

Mr. Sullivan explains that in hisconversat ions wi th cl ients theyhighlight that as organizations arepreparing to start hiring again, theyhave indicated they are tired of thesame search firms, the same searchconsultants, the same processes andthe same frustration levels with howlong the entire process takes and howclients feel that they are not the firm’stop priority. They are demanding freshand creative thinking and especiallymore of a client-focused approach.

In fact, Christian & Timbers hasalready put in place a “40 day audit”.According to the firm’s new CEO, “thisis a great visionary tactic. I t issomething that works well for our firm,but could never be implemented in anyof the 4 or 5 big firms.”

This process requires that 40 daysafter the initiation of the search apartner from a different industry sector,and who is not involved with the searchor the client, will contact the respectiveclient. The partner, who has pre-arranged the call beforehand with theclient, will ask questions such as:

• How are you doing?• Are you seeing candidates?• Do you have the responsiveness from

the partner that you expected?• Do you feel good about the search

process so far?• Are we on track?• What adjustments do you think we

need to make?• Is there anything you want to tell me

about the search that is making youfeel uncomfortable? Because if so,we are only 40 days in and we canturn this search around?

Mr. Sullivan explainsthat this 40 day audit is

“unbelievable anda powerful tool for theclient because if thereis something that theyare not satisfied with,you can turn thingsaround immediately.”

At the same time, every partnerwithin Christian & Timbers knows thatthis is going to occur at every 40-daymark of every search so “they comeout of the block like a sprinter at theOlympics because they don’t want anyclient bringing some dissatisfactionwith their performance. They also knowthat these reports are going to cometo my desk and that if there is aproblem I will extract the partner fromthe search. As a result, this will notonly hurt his or her pride but since

there is enough of a subjectivecomponent to our compensation modelit is going to hurt his or her pocket.”

The new CEO of Christian &Timbers is adamant that he will reviewevery search that comes into this firmand he will personally ensure that theteam on each search is the best teamto execute that search. “The partnersat Christian & Timbers agree that thispart of my role and I will be overseeingeach and ever y one o f t h e seassignments. I am not sure if it is a bigdifferentiator but in the short term itwill avoid pot holes in the road and inthe long term we will forge much mores t r a t e g i c r e l a t i o n s h i p s w h e r eeverybody will benefit.”

For Brian Sullivan, “it is crucial thatevery client understands that searchis an art, not a science. There arescientific elements, such as periodiccal ls to discuss what is in themarketplace and to provide feedbacka s t o w h a t t h e r e a c t i o n f r o mprospective candidates are to the role,to the reporting relationship, to thecompensation offer and even to theclient itself.”

All of these factors are all key for aclient to be able to make an informeddecision. Yet according to Mr. Sullivan,“Clients still feel that they have to dragthis out from their search provider. We,at Christian & Timbers, are going torewrite these rules and make sure thatwe are partnering with them so that atthe end of a search, they not only havethe right candidate at the right level thatthey want, but that they also understandan awful lot of the perception ofthemselves in the industry sector andthe perception from other candidatesthat they could attract, couldn’t attractor didn’t want to attract - what theirreaction to the opportunity is as well.All this is valuable when you arebuilding an organization and when youare competing on a global level.”

www.search-consult.com

For more information, contact:

Web: www.ctnet.com

ssociation - An organized bodyof people who have an interest,activity, or purpose in common;

a society.

If applied to the Executive Searchcommunity, this definition can meanmany things. What would be thiscommon interest other than promotinga profession by nature so discreet thatit can seem cloaked in secrecy tooutsiders? What common purpose canbe found in an industry naturally soo v e r w h e l m e d b y c o m p e t i t i o n ?Why would a European Search firm bein teres ted to jo in a US-basedassociation rather than a local one?Speaking of which, is there a local oneat all? To try and answer thesequestions, search-consult conducteda survey of 10 Executive SearchAssoc ia t ions based in the USand Europe (see table on page 9).Ranging from the lesser known to themore famous, most claim to be differentin terms of membership criteria,benefits and value brought to theindustry. If all associations are aboutfinding a common ground betweenmembers, it certainly doesn’t mean theyhave the same views on how to getthere. Add different cultures andcountries to the mix, and the emerging

global picture is likely to be highlycontrasted!

Most of the surveyed associations

tend to serve a local market of Searchfirms. This is particularly true in Europe,where almost every single countryhosts its own organization. Howeverabout 50% of these associations do notrely on official offices or full-time staff,simply listing members along with theircurrent professional contact details. Asmall team of up to 3 people is the normfor those who choose to have full-timerepresenta t ion . There are twonoticeable exceptions: first, the BDUin Germany boasts 17 members of staffas a whole, but as we will see later thisis explained by the very nature of thisassociation which only counts RetainedSearch as part of a larger body ofManagement Consultant firms. Theother one is the Associat ion ofExecutive Search Consultants (AESC),with a team of 14 full-time staff, reflectsits position as the largest globalE x e c u t i v e S e a r c h a s s o c i a t i o n .Originating in the US, its success inattracting quality members led to theopening of a successful Europeanoffice in Brussels. The other big playeramong the associations surveyed wasthe Executive Search Roundtable

(ESR), another US-based organization.While also aiming for a global reach, itlacks a physical local presence inEurope.

CHART 1: AREAS SERVED

The ESR is also the only associationof those surveyed to accept bothindividuals and firms as members. Ahuge majority (70%) prefers to havemember firms only, while individualsfavored Stowarzyszenie DoradcówPersonalnych (SDP), aka the PolishExecutive Search Consultants Society;and the UK-based Executive ResearchAssociation (ERA). The ERA countsmany independent researchers asmembers, as does the ESR along withindependent search executives.

By Yann Le Leyour

A

S E A R C H - A S S O C I A T I O N S


60%20%

10%

10%

LocalGlobalAmericas onlyEurope only

forHuntingPerfection

Associations:


search-consult ISSUE 21 20048

CHART 2: FIRM / INDIVIDUAL

It remains true that apart from theAESC, who only accepts RetainedSearch firms, all other associations arekeen to accept quality members froma larger community of recruitmentfirms.

That includes Contingency Searchfirms in some cases. For instance, thesmaller US-based National Associationof Executive Recruiters (NAER), whilecounting 90% of i ts members asRetained, does not want to detersuccessful Contingency firms fromjoining.

There, a t t ract ing outs tandingmembers is seen as more importantthan focusing on a billing practice. Ingeneral, Retained Search will form thebulk of members (37%), followed byother Recruitment related firms, orManagement Consultancies offeringSearch as part of a larger range ofservices. This ref lects the factthat, outside the US, firms in generaltend not to restr ict themselvesto a particular type of recruitment and,in order to sur vive in a toughmarket, wil l of fer a solution foreveryone, with Search being part ofthe mix but more rarely as themain activity. This explains why theBDU in Germany counts 550 membersof which only 10% are RetainedSearch f irms, as the associationis first and foremost focusing onManagement Consu l t ing f i rms ,with a department devoted to Searchitself.

CHART 3: TYPE OF MEMBERS

As for the number of members, the

figures vary wildly. Not surprisingly,the AESC counts the most RetainedSearch members (256 at the time ofwr i t ing) . However, the la rges tassociation in terms of total number ofmembers remains the BDU, for reasonsseen above. Apart from that example,each country-specific association isnaturally smaller and some membersare also aff i l iated with a largerprofessional body. For instance, theBelgian Executive Search Association(BEXSA) has its own section on thelarger FEDERGON website (BelgianRecruitment and Search & SelectionAssociation). Each BEXSA member isalso a FEDERGON member and, insome cases, also belongs to the AESCvia the Brussels office.

In general , the proport ion ofRetained Search firms among allmembers is between 40% and 100%.

CHART 4: NUMBER OF MEMBERS

CHART 5: HOW MANY MEMBERSARE RETAINED SEARCH?

What does it take to become amember of one of these associations?To this open question, the three mostcommon answers are in line with thecorporate governance issues that havegripped the industry lately. They are,in order of importance: compliancewith the association’s code of ethicsand professional practice guidelines,followed closely by experience andreferences from both clients and fellowmembers. Turnover, although it mustclearly remain a factor, was only citedonce in our survey. The AESC goesone step further by requiring a full auditof prospective members. All in all, whatemerges is a th i rs t for e th ics ,accountability and responsibility.

CHART 6: MEMBERSHIP CRITERIA

Once it has qualified, the Searchfirm will be expecting benefits. Themost common is regular meetings orconferences, held at least once a year.S e c o n d i n t h e l i s t i s l e g a lrepresentation / political lobbying.

100

50

90

10 10

40

100 100

0

20

40

60

80

100

120

AESCESR

NAERERA

BDU

FEDERGON

BEXSASDP

Associations

%

37%

12%

27%

12%

12%

20%

20%

20%

40%

25%

20%

5%

30%

10%

5% 5%

Below 2526 - 5051 - 100over 101

ExperienceReferencesTurnoverCode of Ethics / PracticesReputationAuditInternational

FirmsIndividualsBoth

70%

20%

10%

Retained SearchContingency SearchOther RecruitmentOther ManagementOther



Name

AESCAssociation ofExecutiveSearchConsultants Region:Worldwide

ESRExecutiveSearchRoundtable Region:Worldwide

NAERNationalAssociation ofExecutiveRecruiters Region:Americas

ERAExecutiveResearchAssociation Region:UK, Europe

BDUGermanAssociation ofManagementConsultingFirms Region:Germany FEDERGONRecruitment,Search &Selection Region:Belgium

BEXSABelgianExecutiveSearchAssociation Region:Belgium

OAWS Region:Netherlands

SDPExecutiveSearchConsultantsSociety Region:Poland

APSCAssociation ofPersonnelSearchConsultants Region:Russia &CIS States

www.aesc.org [email protected]

www.esroundtable.org [email protected]

www.naer.org [email protected]

www.era-research.org.uk [email protected]

www.bdu.de [email protected]

www.federgon.be [email protected]

www.federgon.be/recruitment/fr/executive_search.htm [email protected]

www.oaws.nl [email protected]

www.sdp.org.pl [email protected]

www.apsc.ru [email protected]

URL / general email

US:+1 (212) 398-9556 Europe:+32 2 733 36 31

n/a

+1 (847) 885-5680

n/a

+49 228 91610

+32 2 203 38 03

+32 2 374 96 72

+31 35 54 27 519

+48 22 628 2165

+7 (095) 970 1203

Telephone

Americas, Asia Pacific:Nancy DeKovenDirector Membership& [email protected] Peter FelixPresident [email protected] Europe:Brigitte ArholdDirector of AESC [email protected]

Linda RushMembership [email protected]

Robert Patterson, Esq.Executive [email protected]

Lucy Cranmer BrownERA [email protected]

Jörg MurmannDeputy Managing [email protected]

Ann [email protected]

Robert BrodskySecretary [email protected]

Peter [email protected]

Maciej [email protected]

Michael Y. [email protected]

Contact(s)

256

Over 101

23

110

550

51-100

17

26-50

26-50

51-100

Retained Search Firms

Retained Search,Research, OtherRecruitment Firms &Individuals

Retained (90%)& ContingencySearch Firms

IndependentResearchers,Retained Search,Other Recruitment Individuals

Retained Search,OtherRecruitment,OtherManagementConsultancy Firms

Retained Search,Other Recruitment,OtherManagementConsultancy Firms Retained Search Firms

Retained &ContingencySearch,Other Recruitment Firms

Retained Search,Other Recruitment Firms

Retained &ContingencySearch, OtherRecruitment,OtherManagementConsultancy Firms

Membershiptype

- Regular meetings- Newsletters / magazines- Discounts on products and services- Training- Legal representation / Political lobbying- Worldwide and Regional representation

(Councils in North America, Europe and Asia Pacific)

- Annual conferences in North America and Europe, Reseachers’ Summits

- Forums for communities: Small FirmForum, Researchers Networking Group

- Referral program- Representation in AESC Online directory,

Search Connect- Research tools: BlueSteps, Exclusive use

of global database of senior executives

- Regular meetings- Newsletters / magazines- Discounts on products and services- Training- Marketing materials, eg Directory of

Independent Research & SearchConsultants

- Listserv email network between ESRmembers

- Regular meetings

- Regular meetings (6 times a year)- Training

- Regular meetings- Newsletters / magazines- Discounts on products and services- Training- Legal representation / Political lobbying

- Regular meetings- Newsletters / magazines- Training- Legal representation / Political lobbying- Informal meetings- Permanent helpdesk- Statistics - Regular meetings- Legal representation / Political lobbying- Regular information on the market, the

services, the legal obligations- Contacts with other parties- Transmission of legal documents- Special facilities for registration to the

authority controlling data protection

- Regular meetings- Newsletters / magazines- Discounts on products and services- Training- Legal representation / Political lobbying- Quality standards- Quality Award to certified firms

- Regular meetings- Legal representation / Political lobbying

- Regular meetings- Newsletters / magazines- Discounts on products and services- Training- Legal representation / Political lobbying- Access to and representation at

interactive, jointly promoted websitewww.apsc.ru

- Collective membership in Chamber ofCommerce and Industry of Russia andother organizations.

BenefitsNo ofmembers

Stanton Chase International providesexecutive search, organisational planningand recruitment consulting services. Ourseasoned consultants combine local insightwith specific industry expertise in eightdynamic sectors of the global economy:

Established in 1990, Stanton ChaseInternational has grown consistently to beranked among the top 1% of globalexecutive search firms.Our growth hasbeen built on solid performance, consistentdelivery and quality service, withlongstanding clients.Our forward thinking and long-termdedication to our clients set us apart. Nomatter where you are and whatever theneed, we can work with you to provideexecutive search and leadership capitalsolutions to foster the success of yourorganisation.To speak with an industry practice searchspecialist or find a location near you, go towww.stantonchase.com

www.stantonchase.com

56 offices in 36 countries

North America Latin America Europe/Middle East/Africa Asia /Pacific

Working in partnership with theleaders of today and tomorrow

• Board and Corporate Governance

• Consumer Products &Services

• Financial Services

• Healthcare &Pharmaceuticals

• Manufacturing &Engineering

• Professional Services

• Natural Resources &Energy

• Technology



Newsletters, magazines, training anddiscounts on products and servicesare all popular. Each associationsurveyed was offering other specificbenefits too. To name a few: the ESRoffers marketing materials such asdirectories of search and researchconsultants and an email network formembers. FEDERGON prefers to havemore informal meetings and has apermanent helpdesk. OAWS, the Dutchassociation, has high quality standardsand offers a quality award to certifiedfirms. The APSC in Russia (Associationof Personnel Search Consultants) hasa col lect ive membership in theChamber of Commerce and Industryof Russia and other organizations. TheAESC offers worldwide and regionalrepresentation with its Councils inNorth America, Europe and AsiaPacific. In addition to its annualconferences, it hosts a Researcher’sSummit and forums for communities,such as the Small Firm Forum or theResearchers Networking GroupReferral program. Finally, the use ofBlueSteps, its global database of seniorexecutives, as a research tool isanother major asset.

CHART 7 : MOST COMMONBENEFITS

The most surprising aspect of the

survey was the huge diversity of annual

membership fees, ranging from $100

to up to $2,500. The BDU bases its fees

on the prospective member’s turnover,

ranging from $1,400 to $9,300 fort u r n o v e r s u p t o $ 2 5 0 , 0 0 0 a n d$30,000,000 respectively. We took itsminimum fee into account for thefollowing chart. The AESC is notincluded as its fee is based on thenumber of consultants, in a regressiveway (the more consultants the lowerthe fee is per consultant).

CHART 8: ANNUAL MEMBERSHIPCHARGE (US$)

When asked what efforts they are

making to increase the number ofmembers, the usual response wasmarket ing , PR and network ingmeetings. Some rely on their websiteand word of mouth, while some havemore hands-on approach by activelycontacting new players or companiesthat they would like to see join theirranks. For instance, the NAER wantseach f i rm in the associat ion torepresent a single particular industryand will target firms of interest by cold-calling them. On the other hand, BEXSAalready has all the major players butone as members in Belgium and, as aresult, doesn’t prospect much. Anotherinteresting example is Russia’s APSC,which is setting up local recruiters’clubs, and has direct contacts and jointprojects with members of otherrecruiting communities. For that reasonthe APSC is widely regarded as a majorand active promoter of professionalconsultants’ interests. Its ambitiousgoal is to have 50% of the Russianmarket as members by 2010.

In conclusion, what value doassociations bring to the Recruitmentindustry? The overwhelming answer

is “improving our image”. Markettransparency has never been moreimportant and each association hash i g h e t h i c a l a n d p r o f e s s i o n a lstandards. Reputation is everythingand raising the profile of the industryis deemed the most important point.This can be achieved through bestp r a c t i c e s a n d p r o f e s s i o n a ldevelopment and frank discussionsamong members. Legal representationand political lobbying, as seen above,are also very important as associationsare generally involved in politicalnegotiations; for instance the AESCrepresents and protects the interestsof the profession worldwide on datap r i v a c y, s t a t e l i c e n s i n g a n demployment laws. The general pictureemerging from the results of this surveyis one of a changing industry. Localbranches of global firms are generallyadhering to both a local and aninternational US-based association,helping to promote both a culturalknowledge of their market as well asthe strength and resources associatedwith a multinational corporation.

The best players in each country arenow acting similarly, following suit togain international exposure andpossible future partnerships overseas.Again, the main issue seems to beimproving the overall quality of service.Transparency and ethics are now onthe front seat, and the common groundthat Search firms are finding by joiningan association seems to be a quest forquality, better services and deontology.In return, this “Quality Seal” helps themto prove their professionalism and theirethical way of conducting business tofuture clients. With such groups of like-minded professionals on the road,surely the Executive Recruitmentcommunity will be able to reach itsever-elusive Grail.

0

500

1000

1500

2000

25003000

ESRNAER

ERABDU

FEDERGON

BEXSA

OAWS

SDPAPSC

Associations

US$

24%

15%

12%17%

17%

15%

Regular meetingsNewsletters / MagazinesDiscountsTrainingLegal rep / LobbyingOther



Web: www.search-consult.com

S E A R C H - M A R K E T R E V I E W


a Market in Search of Good Health

n today’s competitive environment, lifesciences organizations are striving toshorten their research and

development cycle. At the same time theymust increase, improve and expedite theirproduct pipelines. They must explore howto better sell and market their products andmake strategic alliances with othercompanies in the hope of generating greaterrevenues.

These are examples that reflect how thelife sciences sector is undergoing massivestructural changes as globalization isaffecting the very nature of its business. Thelife sciences industry is considered thesecond largest worldwide (oil being thefirst). Therefore, it is very competitive.Moreover, the amount of players competingfor a share in their respective markets isintensifying as companies must adapt tothese challenges and see how to stay onestep ahead of their competitors. Within thiscontext, it is important to highlight the crucialrole talent has, and will have throughoutthese defining moments, for companies aswell as the industry as a whole.

As a result, matching the right talent withthe right company at the right time is nowfundamental. Moreover, companies mustunderstand the critical importance humancapital has, which means that the profile ofthe executive in life sciences is also beingredefined.

In the first part of this article we willanalyze the situation of the life sciencesmarket in executive search and the trendsthat are defining it.

A second part, which will be publishedin our next issue, will depict the profile ofthe executive that is emerging within thisdynamic industry, clients’ expectations, how

the search process is evolving and howsearch firms are responding to their clients’needs.

DIAGNOSING THE PATIENT:A GENERAL OUTLOOK Overall, executive search in life sciencesand healthcare is in good health.

In fact for some, such as Cheryl Buxton,Global Managing Director of the LifeSciences Market for Korn/Ferry International,“It is the most buoyant market we have hadin the past 3 years. Life sciences in NorthAmerica has continued to grow, Europe andAsia are now experiencing over 50% growthover 2003. Europe is seeing Biotechinvestment and our growth in Asia is fuelledby strong investment, particularly in Indiaand China. Pricing pressures andgovernment restrictions while concerning,haven’t had such a negative impact on the

market, as the upward demand is likely tocontinue.”

It is important to note that the level ofoptimism depends on where the consultantis based.

For instance, Steven P. Hochberg,President of Caliber Associates, which isbased in the US, explains how his firm has“experienced a significant upturn in businessat the senior management level within thelife sciences sector throughout all of 2004.After two years of flat activity, numerouscompanies have become more aggressivein their key strategic staffing needs. We seethis trend continuing through the first half of2005 although the capital markets couldcertainly stymie growth prospects.”

In Europe, however, consultants aremore cautious. For example, Dr. TonyChandler, Executive Chairman forTalentmark Search & Selection, explainsthat, “Big Pharma could hardly be describedas buoyant, but there are some strong greenshoots emerging amid mid-Cap and smallercompanies. European biotech is stilldepressed due to restricted funding, butwe’re seeing some good volume growth inthe medical instrumentation and diagnosticssectors.”

Christopher Seabourne, Vice-Presidentat A.T. Kearney Executive Search, and LisaGerhardt, Partner at Boyden, have similaropinions as they both describe the lifesciences market as steady.

When you compare this industry to othersin executive search, there are definitelyreasons to smile.

According to Marc Lewis, President ofNorth America at Morgan Howard, the lifesciences sector is ”relatively vibrant incomparison to less vibrant areas such as

by Pilar Gumucio

I

Lisa Geherdt

LifeSciences



manufacturing. There is fresh growth, similarto financial services. Yet less sophisticatedclientele since financial services clients areaccustomed to working the human capitalmarket through boom and bust cycles.”

The Association of Executive SearchConsultants' latest report reinforces thisstating that the life sciences and healthcaresectors experienced the largest increasesin number of executive searches, up 2%from last quarter, as revenue per consultantis also projected to increase from last year’srevenues.

For Denise DeMan-Williams, President& CEO of Bench International, the “lifesciences market is heating up, particularlywithin the mid-level, infrastructuresupporting commercialization, as well as inthe early clinical decision-making arena,facilitating faster, more targeted decisionsfor investing in drug development.”

Steven P. Hochberg states how his firmhas “seen significant growth in the specialtypharmaceutical sector and have continuedto see increased activity in clinicaldevelopment, regulatory affairs, businessdevelopment and board level searches.”

Dr. Tony Chandler agrees with thesecomments and also sees opportunities in“project management, veterinary pathology,biopharmaceutical validation, medicalaffairs, drug safety, experimental medicineand particular therapeutic specialties.” Healso expects a stronger demand for gateway

functions such as clinical pharmacogenetics. Dr. Richard Eidinger, Co-Head of the

Global Life Sciences Industry Group atHeidrick & Struggles, explains how “thesingle most difficult searches are in oncologywhere you must combine both business andmedical skills. There are also searches inregulatory affairs and those types of roles.There is a great deal of demand for rolesthat contribute to the commercialization ofproducts. Finance executives are also highin demand due to the Sarbanes-Oxley Act.One function for which there is increasingdemand is for project managers, and thiswill probably increase as clients try toaccelerate the approval process.”

Cheryl Buxton adds that the other majorarea of growth, which may seem obvious,stems from pharma companies who havebeen working hard to uncover unmetmedical needs – more lifestyle diseasetherapies, e.g. sexual dysfunction, and moreniche markets such as restless leg syndromeand overactive bladder syndrome. All callfor executives with a more creative approachto drug development, more creative deal-making experience with biotech companiesand very creative marketing capabilities.

EXAMINING PHARMA If we take a closer look at the main sectorsof this market, we can see that thepharmaceutical industry is currently themost dominant.

This sector is facing massive changesin the productivity of its research anddevelopment activities.

According to Michael Klingler, Partnerof RSVP Management Consultants, “Withthe ever increasing pressure involved inproduct development and launch costs aswell as governmental influences,pharmaceutical companies” are exploringstrategies to sustain profitability.

There is “a big move away from primarycare drugs and a big move into developingspecialty products to mitigate pricing andreimbursement issues,” Denise DeMan-Williams explains.

This sector has always been veryconservative, where the way to do businesswas very traditional: invent a blockbusterdrug (drugs with a sales revenue of $1 billion

plus) and sell it well in a market always inneed of this product. Lisa Gerhardt reportshow this business model was very effectiveand thus, big pharmaceutical companieswere extremely profitable in the past.

Today companies have to become moreefficient in a very fast moving market.Dr. Peter Woods, Group Managing Directorof Euromedica, describes the situation inmore detail: “If you look at the 10 toppharmaceutical companies worldwide, theyare losing patent protection on key productsand have had sales hit by genericalternatives. At the same time, R&D[Research and Development] costs areescalating… In an era of litigation, the FDA[Food Development Administration in theUS] approval process has becomeincreasingly rigid as drugs now must beextremely well researched, developed andregulated with regards to both efficacy andsafety. Companies must weigh up the risksand benefits very carefully and consider ifthe cost of approval is too great for thecommercial return.”

Furthermore, the expiration of patentsmeans “a rise in opportunity for genericdrug companies, a definite growth area,with products costing much less than theirbranded equivalents,” remarks LisaGerhardt.

Christopher Seabourne describes howgeneric companies, mostly based in

Peter Woods

Tony Chandler



developing countries, are expanding toEurope and North America. As a result, theopportunities for executive search areturning out to be very interesting.

Cheryl Buxton sees generic companieshaving gained enormous respectability overthe last five years. “At one time they couldonly attract B-level talent. Today they needto sustain huge growth numbers. M&Aactivity helps, but so does attracting A-classtalent. They demand it and now they canget it.”

According to Michael Klingler all thesefactors are “placing pressure on companiesto reduce their margin of profits, increaseinnovation and find faster ways of developingproducts and delivering health services.”

Christopher Seabourne reports that asa result of these factors, “life sciencesorganizations are looking for moresophisticated ways of management. This inturn, has increased the demand for searchesacross the border.”

Dr. Peter Woods explains that within thiscontext, specialists and technical executivesare always in constant demand. “Companiesare always updating, moving executivesinto new positions and looking for highcalibre individuals with new technologyskills. Since the start of 2003, there has beena definite pick up in R&D.”

Sales and marketing has depicted a“mixed picture as companies are awaitingthe approval of a new generation of drugs,“

adds the Managing Director of Euromedica.“The commercial sector is not as buoyantas it used to be in the past because of theregulatory issues and a slowdown in newproducts being approved. The large profitmargins of old are decreasing, whichimpacts on recruitment with selective hiringmore the norm. What companies arefocusing on is retention strategies, inparticular how to keep their best executivesincentivized.”

Christopher Seabourne comments howsome mid and smaller companies that aregrowing fast are hiring aggressively. As aresult, they are turning to executive searchto find them the most appropriate executives.

Cheryl Buxton explains that manyexecutives are seeking a higher degreeof autonomy, responsibil i ty andaccountability. They want to feel that theyhave left a legacy in a company. Big pharmais far less attractive than it used to be in thisregard, and this is to the advantage of thesmaller companies. Yet, this can change atanytime.

Steven P. Hochberg reports that, “asbiotech/pharmaceutical companies’portfolios mature and progress through thed e v e l o p m e n t p i p e l i n e t o w a r dcommercialization, those executives whocan bring a keen understanding of productlife cycle management will be increasinglyimportant and valuable to the industry.”

Jocelyn Dehnert, Managing Partner atHeidrick & Struggles, sums up the situationas she explains how the pressure of thegeneric component, the need to increaseefficiency in the production side of businessand the regulatory environment becomingmore demanding are all important factorsthat are currently influencing the life sciencesindustry worldwide.

EXAMINING OTHER SECTORS Another important sector within this industryis biotechnology, where firms must be ableto obtain funding for their clinical trials whileat the same time, be able to launch the bestdrug to the market before their competitors.

Although this sector is having a strongrecovery, Jocelyn Dehnert remarksthat, “there has been a downturn in thelast few years due to the decline in IT.

Venture capitalists are now increasingfunding and as a result, demand is pickingup pace. “

For Dr. Peter Woods, the greatest demandis in therapeutic products. “Companiesspecializing in platform technologies andspecializations such as proteomics are goingthrough a hard time.” He cautions that in2005, “venture capitalists will be moreselective in which companies they chooseto invest in the future. In turn, recruitersshould also be careful in which youngcompanies they choose as clients.”

Francis Rolland, Managing Partner atPeople In Health, agrees that second roundsof investment will become more selective.Nevertheless, he reports that there issubstantial activity in this sector. “In fact,there are many US and Canadian firmslooking to expand into Europe. Biotechcompanies are entering the clinical phase,which means they are now focusing ongetting their products into the market. As aresult, executives in sales and marketing aswell as business development in servicesare in high demand.”

The services sector, which pertains tothose functions that service healthcare, isalso showing signs of improvement. FrancisRolland describes how “these jobs areaffected by outsourcing, externalization, andconsolidation.” Therefore, the function thatis most sought after is in businessdevelopment.

Michael Klingler Francis P. Rolland

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Services, which traditionally have had astronghold in the US, are also beginning topick up in Europe. The Managing Partnerat People In Health explains that this is “partlyas a result of North American operationsexpanding into Europe and also partly as aresult of Europe developing private healthsystems.”

With the exception of Spain, ChristopherSeabourne explains that the demand inEurope for physicians is greater than thecurrent supply. As a result, searchconsultants must look outside their bordersto fill this void.

The area of medical devices, diagnosticsand distribution is growing thanks toescalating home healthcare services foraging populations, as well as by newtherapies, procedures and diagnostic tools.

Jocelyn Dehnert explains how “medicaldevices in Europe are performing extremelywell, especially with the emergence ofCentral and Eastern Europe as a source ofmanufacturing these products.”

Francis Rolland concurs, and perceivesincreasing assignments in sales, marketingand especially in executives that haveexperience in risk management ascompanies expand their operations intonew countries, regions and on a global basis.

LISTENING TO THE PATIENT

The changes in this market are beingexperienced at all levels, as traditional

pharmaceutical marketing is one moreillustration of how the pressures on thisindustry are constantly in motion.

Lisa Gerhardt reports that “while ethical(prescription) drugs are not advertised,there is a push to raise awareness of theconsumer through various sophisticatedtechniques. The consumers, particularly inthe US are better informed, have access toinformation via the Internet, and are pushingtheir choice of treatment to prescribingphysicians.”

She adds that, “the sales force or fieldforce effectiveness programmes are beingrolled out across most of the majorpharmaceutical businesses, and arefollowing in the medical device sector. Theeffect this is having on search is to increasethe level of sophistication required for seniorsales and marketing professionals. Newroles are also being created because of theneed for change management andinfluencing skills rather than the traditionalsales management.”

This new trend affects the entire businessas more and better expertise andcompetitive intelligence regarding customerinterface is required. Executives that candeliver real value to the costumer andimprove a company’s performance arehighly sought after.

MAKING THE PATIENT HEALTHIER

In the search for more efficiency, lifesciences companies are also looking atways to consolidate themselves or evengrow through associations.

Lisa Gerhardt explains, “With theestimated cost of bringing a drug to marketbeing in the region of $1.7 billion, includingthe commercialization, the need for ablockbuster potential is essential. Thepaucity in many company’s pipelines isdriving consolidation within the market, withpharmaceutical companies needing to addproduct and strong development pipelinesinto their portfolios.”

According to Michael Klingler, “Duringthe last 30 years life sciences organizationshave enjoyed two-digit growth. However,companies can no longer continueproducing 3 or 4 blockbusters. As a result,they are now looking for group alliances.

For example, most pharmaceuticalcompanies are contracting biotech firms toproduce their products.” This is occurringbetween the areas of pharmaceuticals,biotechnology, medical supplies/devicesand healthcare delivery.

Lisa Gerhardt reports how “theoutsourcing trend can be seen in drugdiscovery and development, “with ananticipated 36% of the market beingoutsourced in 2004.”

In fact, Francis Rolland describes howoutsourcing is spreading to countries thatare in development. “For instance,biometrics and clinical research havetraditionally been in-house operations. Now,in an effort to streamline, they are outsourcingthese jobs. This is a trend that is growingand will definitely have an impact on theindustry as well as recruitment in the future.”

The Managing Partner at People InHealth admits that this trend may not becurrently affecting the amount of seniorexecutives hired. “However, it is affectingthe way businesses are strategicallyorganized, and therefore, it is affecting thetype of executive hired.”

Michael Klingler reinforces this statementas he describes that as organizations arebecoming more global, the use of strategicalliances is increasing. As a result, morecomplex business models are beingcreated.

This Partner of RSVP ManagementConsultants reports, “The most successfulcompanies in life sciences will be those thatcombine their scale with global reach,creativity and entrepreneurial spirit. Withinthis context, it is vital that human resourcesbe a strategic partner and be highly involvedin overseeing the future of the company interms of recruitment, development,communication and retention.”

How is all this process affecting theexecutive profile? How are executive searchfirms responding to the latest trends withinthis market? We will explore these answersin our next issue.

Jocelyn Denhert



Web: www.search-consult.com

S E A R C H - C O M M E N T


enise DeMan Williams is the Founderof the oldest retained search firmexclusively dedicated to the

pharmaceutical and biotechnologyindustries. Bench International, establishedin 1974, has offices in Los Angeles, NewYork, and London. Denise is a memberand Hall of Fame Inductee of the NationalAssociation of Women Business Owners,and is the Membership Director for theWest Coast Chapter of the HealthcareBusinesswomen’s Association. She is theFounder of ALIGN, A ManagementForum™, a team building and human assetretention program, and Co-founder of theS*T*A*R Solution™ (Strategic TalentAcquisition and Retention), dedicated toidentifying, recruiting, and retaining top-tier talent among women and ethnicallydiverse populations.

It is likely that by writing this article I willbe drummed out of the inner sanctum ofretained search laureates. That’s going tohave to be okay with me, given that I’m aFounder and CEO of a retained search firmand happen to be a woman. The innersanctum likely, in my lifetime, would neverbe known to me.

After 30 years in the business, I havecome to realize my profession is broken. Few in our service sector will admit it. Wehave image, revenue, and our veryexistence to protect. Yet it is our own clientswho recognize that the system we have co-

conspirited to create is one of the least trulyclient-focused service industries in the for-profit world community.

In truth, where is the sanity in going toa high-end designer, purchasing a custom-designed suit, making 3 payments as it isbeing completed, and emerging from thetransaction with nothing, or, at best, anempty suit bag? The religious doctrine ofa traditional retained search has within itspro-forma commandments a paymentstructure of 1/3 upon contract execution,1/3 due 30 days later, and the final 1/3 due30 days after the second payment. So let’sbe clear: The customer often has paid 3/3

for something they have yet to receive.Is it then any wonder why we are brandedwith all sorts of interesting names, at timesto our faces, more often behind our backs? This whole model has always bothered me,which is why my firm offers performance-driven retained search as a way to mitigatethis. Still, I don’t think it’s enough. In orderfor performance standards and metrics tohave any fundamental impact on our clients,the “buyers,” would have to insist this beinstituted as an industry-wide practice.

Truth Time. No search firm – none,neither the large, multi-office global, northe “boutique” player – has all the answersor can do it all 100% of the time. My firmhas been a market leader in our own rathernarrow space of pharmaceuticals andbiotechnology for 30 years and, while weare very proud we hit the target better than95% of the time, there is that 5% that keepsme up at night!

So how does a truly client-focusedsearch firm protect its clients’ interestsduring that 1-in-20 times, hoping thisensures their bet? Many clients seek refugein using large multi-nationals. On a one-dimensional level, this would seem to belogical. I wish I could believe it was thateasy. The truth is that several of these arepublicly traded with their focus on thestockholder, not the “stakeholder,” aka theclient. Firms try not to air their own internallaundry; however, what lies beneath themystique of their “global” brand is more

Dby Denise DeMan Williams

Corporate Headhunterof aSecrets

“Nice Girl”

Denise DeMan Williams

often an internally competitive fight for bothcandidate and client control.

My Dad taught me, “A deal is never agood deal unless all parties are betteredby it once they leave the table.” In thecontext of retained search, clients deserveto have 100% of their retained searchesfilled, as long as everyone has agreed, upfront, that the searches are real and theyare fillable.

With that said, let’s look at 3 “what canbe” scenarios in favor of better serving theclient:

(1) “ I t ’s not about one deal ,it’s about a long-term relationship.”

This is where the readers may divide bygender, but, as an old-fashioned girl andbusiness founder, this is my thinking, forbetter or for worse. In this scenario, thereare times, given the intervention of humanfoible, that even the most well-intendedsearch firms can run dry on an assignment. Therefore, what measurement ensures theclients are served and get what they need?

In the pharmaceutical industry, losingmonths without pivotal hires can translateto a loss of time to market, revenue, and,more importantly, to loss of human livesand quality of life. In this scenario, youhave a search firm that has given its all, aclient company that has paid a dear price,and we’re still at a lose-lose. Does it reallyhave to mean, after exhausting all knownresources, a search firm is committing aform of relationship “hari-kari” if they taketheir client by the hand and open the doorto other options, including their owncompetition?

Far too many times, a client could bewell-served by being introduced tosomeone who is not a candidate of theretained firm’s. This usually means theclient goes unsatisfied or pays 2 fees. Whata pathetic and expensive barrier to achievewin-win. If what we are talking about hereis a long-term relationship and partnership,and not just a deal-by-deal focus, then is itreally a failure if the retained firm ultimatelyhas to share part of their fee with anotherin order to respond to the need of the client?

(2) “You can’t kiss everybodyand, if you do, you won’t be respected.”

(Yes, Gen-X, -Y, and future –Z’ers, this iswhat girls and boys were taught when Iwas a tween and a teen). Here’s the deal… All retained search firms have, in some way,committed to “hand’s-off” provisions. Ifthey have not, they are not in yourcompetitive space. What this means for aclient is that there are anywhere from ahandful to a long list of clients’ competitorswhere they can’t “poach” talent for theirclients. Therefore, little math has to becalculated to understand how limiting thiscan be for a client.

Free-think a possibility: What wouldhappen if a client were to say, “Go pickanother firm to partner with who hasdifferent hands off limitations from yours. You two work together and make sure youcover and deliver our candidate optionsfrom an entire market.” Some strategic-thinking client companies have done this,however, it has most often meant they’vehad to pay two fees. Would you be happypaying twice for the same item? I don’tthink your stockholders would, either.

So, what are the possible risks andrewards here? The risks are glaring andrequire an honest assessment of the client-service partner relationship. At the tableare issues around fear of revenue loss, lossof control, as well as being seen as havinglost one’s “edge”.

“It’s about the client, stupid.” The focus,from beginning, middle, to end must beabout the client’s needs. How fast searchfirms can get on the bus and learn to workin partnership for their client’s interests,including collaborating with other searchfirms where necessary to get the job done,directly determines when search firms willearn confidence and trust from their clientswho will know it is their best interests, notself-interest, that drives our industry.

There you have the difference betweenearning the name “partner” versus beingtreated as a “vendor.” Someone tell mehow anyone can find intrinsic reward,professional motivation, satisfaction,meaning, or legacy in the word “vendor”? As a culture, we have made humans andserving humans a commodity. Can anyonedefend this? Can you do it with pride? “Vendor,” “Vendor Management,”“Commodity,” “Purchasing”… These are

the words that keep those of us who loveand honor our profession up at night, as dothe machinations around them. Yet, if weearned client partnership and thencontinued to earn and deserve the title androle of “true partner,” can you even imaginehow much more of an ROI for search feesboth client and search firm would gain?

Here’s a third scenario:

(3) “Kiss me, respect me, and you canstill have everything you want andneed.”

At the end of the day, I am still an old-fashioned girl. My mother and husbandwill be proud. Our children will beembarrassed, because they still think interms of “either-or”. Old-fashioned is notcool. Yet, here I am, the Long-Term-Relationship Maven, preaching the darkside of walking hand-in-hand with a clientinto a relationship with a direct competitor. If it’s another search firm run by someonewho looks exactly like Meg Ryan or AshleyJudd, then even I might have a problem,but it won’t be about the deal or the client. Otherwise, it is my job and my responsibilityto my team and to our clients that I believemore in collective needs than in my own. Here’s what I mean: It is up to me, as theleader, to maintain the gift of generosity ofspirit, belief that the more you give, themore you effectively serve, the more joyand professional satisfaction you receive. It’s my job to teach it, to train it, tocommunicate it to my team, to our clients,and to live it. By sharing, by seeking, bytrusting, by growing up, and by losing - wegain, we grow, we enrich, we provide, werenew.

Will there come a time when thecorporate sector imposes limits on howsearch firms serve them? Of course theywill and they do! It’s already happening. Will there come a time when search firmschoose to earn and, therefore, deserve thehonorable title “Partner”? I hope so, and Ihope it is in my professional lifetime.

S E A R C H - C O M M E N T




Web: www.benchinternational.com

S E A R C H - M I D D L E E A S T


xecutive Search was first introducedto the Middle East (ME) during theoil boom years of the mid-70s to mid-

80s when multinational companies andbanks called upon Executive Search firmsout of Western Europe or the US to findthem top talent. At the time, most of thecandidates were expats and there were nosearch firms that operated in the MiddleEast. Twenty years on and Executive Searchis still a relatively new concept in the MEas there are only a handful of respectedsearch firms that operate here.

Today in the ME both multinational andlocal businesses are beginning to useExecutive Search. In fact, Rasd Ltdpioneered the introduction of this conceptto local companies in 1989. As we hadexpected, the demand for Executive Searchis growing much faster with native playersthan with multinationals. Currently, thebusiness community is hiring both expatsand local players, and this trend willcontinue as more locals prove their worth.

In fact, the economies of the ME havetremendous potential for growth, as thepressure for modernization is compelling.Changes are required to create dynamicand viable economies in the region. Thereare several catalysts for this change. Forexample, there is the impact of the WorldTrade Organization on the economies ofthe region, affected by the ensuing effectof modernization and the liberalization ofthe markets. Within this context, the privatesector and family-owned businesses willplay a vital role in the new Middle Easteconomies. Many family-held businessestoday are increasingly emerging asdeveloped and well-structured companies.They recognize the importance of sound

professional management in order to grow,develop in an increasingly competitiveenvironment, and in case of some of them,prepare their companies for the prospectof going public. This dynamic is expectedto create a strong demand for executiveleadership at various levels in MiddleEastern corporations.

The retainer Executive Search marketin the region is still virgin but has strongprospects for growth. The most promisingsectors for Executive Search in the MiddleEast are: a wide spectrum of financialservices, manufacturing industries as awhole and in particular the food industry,healthcare, retail and real estate.

There is strong potential for significantcommercial rewards from ExecutiveSearch in this region. Nevertheless, a lotof hard work is required to foster growthof this specialized profession and establishits effectiveness as one of the key elementsin the economic development of the MEmarkets.

UNDERSTANDING THE HARDSHIPSSeveral challenges face the Middle East

search business today. A large part of themarket is still a bit skeptical of an intricatespecialized consulting service it does nottruly understand. Large portions ofbusinesses are still unable to discern theutility of Retainer Executive Search versusconventional contingency recruitment.There is also the problem of contingencyrecruiters posturing as retained ExecutiveSearch consultants, further confusing clientfirms that are still trying to grasp the wholeconcept of Executive Search. Furthermore,the information structure in Middle Eastmarkets requires significant development.

As a result, research requires aconsiderable amount of time, which in turnreflects the length of time and costsrequired to complete a search and producethe desired results.

Information about the financial positionand the senior management structure formany of the family held businesses is notreadily available to the public. This posesa great challenge for the Executive Searchfirm, especially in target companyprioritization and candidate identification.At the same time, search consultants mustassist potential candidates in evaluatingthe new career opportunities presented.Within such a structure, the executivesearch firm has to rely on its informalnetwork of contacts as well as lessonslearnt from earlier contacts with seniorexecutives in a particular company to buildknowledge of key players & their respectivelevel of organizational development.

Let me say from the outset, that many ofthe ideas presented here could becharacterized as evident basics of retainerExecutive Search. While this is a validremark, it is also true that some of the mostobvious things are often taken for grantedand very frequently overlooked. In a virginsearch market like the ME, articulating theneeds of some clients and ensuring theiractive collaboration in search assignmentsrequires concerted and focused attention.

There are a number of fundamentalsthat in our view underscore the success ofExecutive Search in the ME markets. Firstof all, in order to succeed in penetratingthe ME market the retained ExecutiveSearch organization must understand thelanguage and recognize the cultural make-up and values of the region - in the general

By Nadim El Said

E

New BreakingNew BreakingGroundGround


community sense and in the specificbusiness sense. This is crucial since thebusiness culture is undergoingtransformation from conventional tradingto manufacturing and services.

For example, the Executive Search firmmust be aware of the legal restrictions thatimpact the movement of skills within keymarkets in the region. In some countriesin the region expatriate workers have tobe “sponsored” by their employers toobtain a work permit. Therefore, they wouldrequire approval from their employer torelocate to another job in the same countryor obtain a visit visa to travel for interviewswith a search firm or a new prospectiveemployer in a different country.

Secondly, the emerging searchprofession in the ME markets mustcommunicate to specific industry andservice sectors the added value of retainerExecutive Search and the significant impactit could bring to the success of the operationof any enterprise. It is a prerequisite thatorganizations within the ME marketunderstand the added value of theexecutive; it is incumbent upon the searchprofession to achieve such understandingin their endeavor to assist in creating andgrowing this specific market sector. It is especially difficult when the businesscommunity is skeptical about retainerfunding in (Executive Search) consultingwhile it is acceptable in, for example,medical care or the legal profession.We must educate the market about thesignificant value of the retainer approachas compared to the contingencyapproach.

In many cases, particularly withtraditional family held groups seeking tobuild a structured & developed organization,the Executive Search firm will have to spendconsiderable amount of time assisting theclient to clearly articulate their firms’requirements. Requesting information aboutdecision-making processes or financialinformation is sometimes viewed withskepticism. The search consultant must bevery tactful and diplomatic in persuadingthe owners/decision-makers that providingthis information is crucial to the success ofthe search assignment, and therefore, thesuccess of their own companies. We must

also deal with issues, such as how do youimpress upon your client that corporategovernance attracts high fliers butneglecting this issue can have the oppositeeffect.

Finally, the search firm must be awareof the intricacies of ME markets in order toidentify and introduce culturally matchingcandidates locally and internationally, whoseadaptability to the host client company canbe established and a relationship with whomcould be sustainable.

THE ROLE OF A CONSULTANT

The retained Executive Searchconsultant serves as a managementconsultant to the client; the relationshipmust be based on trust. This is vital to thesuccess of the search from the perspectiveof both the client and the consultant. Aclient will listen to a consultant’s counselonly if the latter is able to impress the clientwith their expertise, objectivity andcapability. The consultant must convincethe client that the best available talent canonly be secured if the consultant isappointed and adequately funded as acredible “ambassador” representing theclient in the marketplace. A consultantmust therefore possess and exercise alarge amount of professional integrity toachieve the necessary trust and thecapability to achieve the desired resultsswiftly and successfully.

Search consultants should: • Rally and persuade the client accordingly

during the pitching stage for a searchproject and then demonstrate addedvalue to search objectives during itsexecution.

• Carefully manage the client’sexpectations and establish clients’understanding of the deliverables andaccountabilities of the Executive Searchprocess.

• Encourage the client to manage theproject in a pragmatic manner andcounsel the client to deliberatelyevaluate the consequences of latter’sdecision relating to the criteria andparameters of the search.

• Persuade the client to recognize therealities of the market and the inherent

constraints and challenges of search. The search profession must impress

upon the client that to secure successfulresults from the retainer Executive Searchprocess the client should select a searchfirm that has bona fide credentials toundertake the mission; a firm that haspervasive knowledge of and network ofcontacts in ME markets and in which theclient can develop trust. The retainerExecutive Search model is only“economically feasible” if the position theclient is seeking to fill is a leadershipexecutive role. The client should alsoassure compatibility between the attributesand bench of candidates they seek withthe search firm’s ability to motivate & attractsuch executive/professional talent.

Paramount to the success of the searchis adequate and economically feasible“funding”. This is essential to achievesuccess for two reasons, (a) search projectsare tailor-made to fit each specific client’ssituation; and (b) when adequate fundingis assured, the search endeavor is focusedon success and sustainability of relationshipbetween client and selected candidate(s)rather than the uncertainty regardingadequacy and remittance of funding forproducing the best results.

BEYOND THE HORIZONS

The future of retainer Executive Searchin the Middle East is promising. Activeeconomies are modernizing as industriesand services continue to grow. MiddleEast societies are hungry for goods andservices in all sectors.

Companies in the Middle East will findthemselves competing for exceptionaltalent, for leaders that are capable ofbringing their organizations to new levels.Within this context, it our responsibility assearch consultants to search for, developand introduce outstanding talent to assistour clients in realizing their businessobjectives in an increasingly competitiveenvironment.



Web: www.amrop-me.com




Research by Peter Samaha

Written by Rosalyn Rahme

agdy El Zein and Jei Matt of

Dubai -based execut ive

search firms Morgan and

Banks Middle East and Synergy

Executive Search speak to search-

consult.

Executive search companies have

been operating in the Middle Eastsince the oil boom of the last centuryhowever the ‘obvious local choice’ forfirms seeking to recruit executive leveltalent across the Middle East is yet, ifever, to be established. With bankingand oil as the two major industriesrequiring search in the ME we mustrecognise that these industries drawand require an international talent pool,and as such many of the requirementsacross the Middle East are just as likely(and as easily) to be filled from asearch consultant in New York as inDubai or Beirut!

This article takes the experiencesof two leading search consultants inthe Middle East examining some of thehurdles they have overcome from theirinitial stages of development to thecurrent day and how these executivesearch companies are distinguishingthemselves from other availablerecruitment tools for the local businesscommunity.

Jei Matt of Synergy Executive Searchexplains that initially most MiddleEastern companies (as opposed to theinternational firms with ME offices)were not accustomed to the practiceof using executive search firms. Theyrel ied on the local market andn e t w o r k i n g . H o w e v e r , M a t temphatically states, “This has slowlybut definitely started to change.” Hegoes on to explain that employers arenow looking to hire a candidate whois a Strategic Fit to their requirementsand that employers are realising and

prepared to pay for the benefits that ahire can bring. Companies are usingExecutive Search firms with a clearvision of the person/candidate they arelooking to hire. However, Matt doeswarn that in the Middle East employersare very demanding with respect tothe competencies they are looking forin the i r prospect ive execut iveemployees.

Matt goes on to explain thatlocalization is evident to a certainextent, but not across all sectors. Inhis experience, cultural adaptabilityand industry specific experience arehighly valued and clients welcomeintroductions from outside the ‘local’candidate pool. As an illustration ofthis point, he provides the example ofa large local company looking to hirea General Manager for their TravelBusiness. They were looking to recruitan execu t i ve w i th a thoroughunderstanding of the travel industry aswell as the ability to seek and createopportunities in one of the world’s mostvibrant markets – Dubai. They foundthe successful candidate from one ofthe UK’s largest Travel Firms who didnot have one years’ Middle Easternexperience. The client hired him oversomeone with a strong Middle Eastbias mainly due to his completive

Rosalyn Rahme

in theM

Middle East

Executive Search

consult.

search-

outlook and his aggressiveness. Mattconcludes that sourcing candidatesglobally is accepted; it is just aquestion of what the key competencyrequirements are.

In an executive search market thatis still undergoing maturity El Zein saysthat although local firms tend to relyon their existing social and businessnetworks for potential candidates, oncethey try the [executive search] serviceand see the results they tend to stickwith it. Although the fees associatedwith executive search can be initiallydaunt ing to the local businessc o m m u n i t y ( e s p e c i a l l y w h e ncompared with those of contingencyrecruiters or adverting firms) thechallenge is to show the client who isunaccustomed to the pricing structurethe differences between the availableservices and the advantages/addedvalue of a search. Search consultantsmust show these local firms that theyadd the value of making what has oftenbeen an opportunistic hire into astrategic one.

Justifying the fees is an addedburden but part of the executive searchbusiness in the Middle East. However,Jai Matt says that this justification isquickly and easily accomplished - andneed only be done once. The fees arecomparable to the UK and US. In thecase of Morgan and Banks the fee forsuccessfully filling an assignment isan initial retainer fee followed by onethird of that candidate’s first year salaryand accommodation allowance. El Zeinalso concedes that the companies often“find it expensive to start with both thesize of the fee and the retainerelement”. Parting with some moneyupfront can meet with cultural/habitualbarriers but El Zein adds confidentlythat once the client is updated weeklyon the process and progress of thesearch, they begin to feel morecomfortable with the process and priceof the service.

Barriers to the Search service in theME do not stop at fees. El Zein pointsout that many would-be Middle Eastern

clients are unaware of the differencesin service between the executivesearch f i rms and con t ingencyrecruitment. He shares his owncompany experience in having had toeducate, clarify, distinguish andpromote his search company serviceover and above other recruitmentservices so that his client can decidewhether a requirement requires asearch or not.

There is the temptation to be “allthings to all men” in the executivesearch business in the Middle East. ElZe in adds , “ There are lo ts o fcompanies in the Middle East whocla im to do ever y th ing - f romadvertising, selection, Internet basedrecruitment to executive search andselection… if the decision maker of ac o m p a n y i s n o t a w a r e o f t h edifferences, they will go out and usean advertising company first. We spenda lot of time educating the market onthe advantages and benefits of theexecutive search process (whereneeded).”

El Zein explains that the market inthe Middle East is currently made upof no more than two serious MiddleEastern executive search firms, withthe rest of the market open to globalf irms. He goes on to say that acompetitive market would help toregulate the pricing structure of theindustry as well as draw much neededattention to the existing search firms. We are seeing an influx of search andrecruitment firms to the ME and inparticular to Dubai. Jei Matt points outthat some of the globally RenownedSearch Firms are setting up offices inthe hub of Dubai and are possiblylacking the sensitivity to the culturalconstrains, and in some cases theabili ty to understand the marketdynamics within the region. Many havealready set up and been daunted bythe ‘uphill task’.

Success for search firms in theMiddle East is on the ability to sell thevalue of the search process clearly andresponsibly. Future c l ients and

o p p o r t u n i t i e s l i e w i t h t h e i runderstanding and appreciation of thevalue of executive search and the roleit can play in the development ofbusinesses in all sectors. El Zeinbelieves that there is a definite futurefor the executive search industry in theMiddle East and is confident that it willfind its rightful place in the MiddleEastern business environment.

“This industry is

in the process of gaining

recognition, especiallyas the Middle Eastis becoming moreand more openand in touch withthe business dynamicsof Europe andNorth America.”

El Zein goes on to note that “Thereare certain economic reforms takingplace wi th which wi l l come aliberalisation of economies -- and theexecut ive search and select ionbusiness will become more and morea standard in the Middle Easternmarket place.”

Executive search needs recognitionand appreciation for the value it canoffer companies. How long this willtake is uncertain, but professionals likeEl Zein and Matt strongly believethat there is a great deal more ofopportunity and business to be donein the executive search market of theMiddle East.




Web: www.goldjobs.com


S E A R C H - T E C H N O L O G Y


By Jason Starrerhaps more than any otherbusiness, Executive Search isabout people. Good people in

the Search business tend to have strongpersonal skills – insight, judgment andso on. Compared to many industries,Search is one in which the role oftechnology is largely invisible.

Having said that, the fact is thatSearch firms today rely more ontechnology than ever before. Thedatabase has developed from the levelof being a ‘telephone list’ to being afundamental part of how a f irmoperates.

In practice, however, many of theexecutives at mainstream search firmshave little or no knowledge of howother firms use technology. Managersin the Search industry tend to beowners, and as such tend not to changefirms regularly. Therefore, they tend toonly be exposed to how other firms areus ing technology when a newresearcher or a consultant joins froma competitor.

The objective of this art icle,therefore, is to provide a briefinsight into just three ways in whichtechnology is being used in the Searchindustry.

CANDIDATE INTERACTION

Given my comments about theimportance of personal skills, it isperhaps surprising that technologyplays much of a par t in c l ientcommunications. In practice, however,technology has dramatically reducedthe overhead associated with managing‘write-ins’. Early examples of this werewebsites such as eKorn/Ferry whichallows candidates to register online.Today, however, this technology has

been surpassed in many countries by‘Résumé Extraction Technologies’. Inessence, this powerful technology willextract information from a résumé –everything from contact information toemployment history and educationalbackground – and use it to populate adatabase record without the need fortyping it in. This dramatically cuts thecost associated with data entry whilea lso increas ing the vo lume o fknowledge held (why not carry allemployment history, given the time ittakes to enter it is virtually negligible?)and without typing errors.

RESEARCH AID

Search is about knowledge, aboutnetworking and about depth ofknowledge. Modern search systemsare much more than repositories ofdata – modern products allow detailedanalysis of the relationships betweenpeople and companies. For example,with our FILEFINDER application, fromthe record of a person, it is a singleclick to draw up a list of people whothat candidate may know. This willinc lude people who may havementioned him, or been mentioned byhim, or even people who workedalongside him.

WORKING WITH THE CLIENT Most systems have been able toautomatically produce reports for manyyears. A number of Search firms today,however, go one step further andactually offer web-based access tocontrolled assignment information viathe Internet. Heidrick & Struggles firstintroduced the extranet concept butmany firms now offer similar facilities. And, the good news is, the fact that this

type of application has gone ‘massmarket’ means that the implementationcosts are extremely low.

RETURN ON INVESTMENT?

Putting these technologies togethercan make a big difference to yourbusiness. Here is an example of whata typical user of FILEFINDER can doin around 1 minute:

• Receive an electronic résumé for aperson not current ly on thedatabase.

• Create a validated, populated recordin FILEFINDER.

• Add the original résumé as a fullysearchable document.

• Produce a skeleton profile report,containing details from the originalresume, but in the ‘house format’.

• Ident i fy people who workedalongside the candidate, through hisor her employment history.

How much time would it take one ofyour staff to do this with your currentsystem? How many résumés do youreceive every year? The numbersquickly add up and many Search firmssee a return on investment within thefirst year of implementation.

J a s o n S t a r r i s P r e s i d e n tof Dillistone Systems, suppliers of themarket leading FILEFINDER executivesearch application. Dillistone Systemsis also publisher of search-consultmagazine.



Web: www.dillistone.com

P

Technology and Your Business

lacing high-level management staff -permanent or interim - in third worldcountries presents more than its fair

share of problems. For a start, not everyone wants to enjoy the

dubious benefits of potential political instability,health issues, the yawning gap betweenwestern cultures and those in developingcountries, the economic situation and the lackof home comforts, particularly if they can optfor the relative cushiness of a posting in theirhome countries. Okay, so it’s not quite asglamorous-sounding as working in Africa butat least a supermarket is only ever a five-minutedrive away. Educational establishments manyand varied, and from a social point of viewcolleagues and friends at least speak the samelanguage. And if you don’t get on with yourneighbours, well, the couple round the cornerwill share your interests.

But firstly, why would a third worldorganisation want to employ a western interimmanager anyway? The national hospital inAbuja, Nigeria is one such operation that, havingmade a disastrous beginning decided to callin experts on dealing with overseas hospitalsto help it claw its way out of the mess it hadmade.

The hospital was built in 1999 with the aimof being run to international standards. By 2002,it was running at a massive deficit. Medicalstaff were being used to handle the commercialand marketing side of the hospital – somethingfor which they were plainly not suited - whichhad the added disadvantage of taking awaymedical care from the patients. It neededa massive injection of medium term westernmanagement expertise to set it on an even keeland enable it to be self-managing withina few years. Cue International Hospitals Group(IHG), a specialist organisation that handles allareas of healthcare management for overseasclients.

Although IHG was appointed in the latespring of 2002, no funding was in place untilOctober at which point it wanted a team ofdirectors in place immediately. Having a teamof potential permanent employees waiting inthe wings isn’t feasible in these circumstances,making the appointment of a team of interimmanagers who are available at the drop of ahat the ideal option in the first instance. IHGuses a range of different suppliers for the variousspecialities required – one for healthprofessionals, another for IT experts and a third - Global Executives - for financial directors.

IHG has developed a strong relationshipwith Global Executives, which has a reputationfor supplying high-level interim managers foroverseas projects. Global Executivesunderstands how IHG works, the nature of theprojects it oversees in a host of third worldcountries, and the need for immediate top flight,culturally and linguistically fluent managers.

Ideally IHG was after a qualified accountantwith Nigerian and healthcare experience. “But,”explains Paul Llewellyn (the man appointed

through Global Executives as commercialdirector for the Abuja project), “that persondidn’t exist.”

It was vital that whoever was selected hadexperience of working in Africa as well as anexcellent track record in financial directorship.Global’s selection process involves shortlistinga number of carefully matched candidates, ofwhom a handful will be interviewed. Then it isdown to chemistry and personality betweenthe IM and the client company – another crucialingredient for a perfect match. Paul’s criteriaall fitted perfectly.

“I was in Nigeria for ten years in the 80sand 90s. IHG revised their requirements toinclude a qualified accountant with Nigerianexperience. I had spent ten years in Nigeriaand quite fancied the idea of returning.”

Paul implemented a number of strategiesthat helped streamline the commercial side ofthe hospital, including installing computerisedrecording systems and ensuring efficient billingprocedures and the hospital’s deficit wasreduced by 70% within the first year.

“Whatever I did had a significant impactquickly,” explained Paul. “That’s the key thingwith IM. There were four areas I had to look atfinancial, marketing, medical records and IT.These were all fairly crucial. One of the keyrequirements was that the hospital becamemore commercial in its approach and achievedfinancial stability. It was very important thatwhatever I did had a massive impact.”

“There were intangible benefits too suchas the installation of extensive computerisationand the integration of computer systems. Webought forty computers and printers andcomputerised a lot of processes. We can’tquantify the improvements in a finite way, butcan say, for example, that the chances of fraud,revenue not being recorded or making errorsare less. No statutory accounts had been madesince the hospital was opened. We introduced


Nigel Corby

S E A R C H - I N T E R I M M A N A G E M E N T

IMs Face Up ToThird World Challenges

By Nigel Corby

P

financial reporting. All these improvements arepretty intangible but further the aims of thehospital,” he added.

IHG Finance Director Milind Pradhanadded, “The hospital was running at a hugedeficit. There were issues over the quality ofpatient care. Very few patients were beingtreated so we looked at the problems. Weincreased the turnover by making sure patientswere billed properly, ensuring money wascollected correctly, that drugs were properlycharged for, that the hospital changed itsprocurement methods by going out to tenderrather than buying things as a one off. It wasrun by civil servants before. They were notnecessarily the best equipped to run a hospital.The doctors ended up running the hospital,which wasn’t right.”

Global Executives Managing Director NigelCorby explained, “Although there are a numberof people who could have handled the businessside of the operation, few could have tackledthe cultural side or handled the indigenousstaff in the effective and non-confrontationalway Paul did. Nigerian experience was critical.The knowledge of overseas culture is as vitalas the technical and managerial abilitiesrequired.”

One of the challenges for providing highlevel management staff for third world projectsis that the economic situation there is such thatthere is often a considerable time gap betweenappointing an organisation to supply managersto run the project and finding funding for it. Thismeans it’s not financially viable for a companyto have a bank of top managers waiting in thewings on the off chance a project might arise. Additionally, the skills required and the rangeof third world countries demanding suchexpertise are usually so precise and so diversethat having a team ready and waiting wouldnever provide precisely the right fit – in termsof management and sector expertise, andlinguistic and cultural match – which is whyIMs are a perfect solution all round.

“Lack of management expertise andexperience, political tensions and financialdifficulties mean operations in developingcountries are often uneconomic and inefficientlyrun. Western expertise is sometimes requiredto point them in the right direction, train upexisting staff and put new systems in place toenable the business to fund itself after a fewyears.”

”Working in a third world country – or indeedany country whose culture is alien to our own,is a tough call. Many people simply cannotcope with it and give it up,” explained Paul.

"It was important to be aware that whenworking in a team overseas, all the membersare foreigners abroad and expected to integratewith each other both in and out of the workplace.IMs working abroad need particular personalqualities such as patience, culturalunderstanding, and adaptability.

“For example, it’s normal in Nigeria forpeople to have a TV set or radio in the officeor collect their children from school duringworking hours. We don’t have this in the UKand it fazes a lot of people. This is a trivialexample but you would be seen to be imposingUK values on them unfairly if you tried to changethis. There are ways of getting round this, waysof introducing international business practiceswithout upsetting them. An IM needs to lookat situations in a flexible way that complementlocal cultures and working practices whilst atthe same time getting the job done.”

It's very important to be hands on,particularly in developing countries. You needthe ability to alternate from a high-level rolesuch as giving a presentation to governmentofficials to first level bookkeeping. IMs have tobe flexible and adaptable.

Another problem for many IMs is beingaway from your family. It is important to organisethings such as leave and regular phone callsto minimise the effect of being away from home.More so than in the UK it tends to be moredifficult to differentiate between work andpersonal time. It is therefore necessary to cometo terms with these issues quickly and early inthe assignment by focussing on the advantagesand positively managing the downsides.

When Paul left after around 15 months thehospital was heading towards sustainability.The deficit had been growing throughout 2002,was curbed during 2003 and was furtherreduced during 2004. Financial control of thehospital was handed back to its own managersand it is hoped that processes put in placeduring Paul’s tenure will point it in the rightdirection for future success.

S E A R C H - I N T E R I M M A N A G E M E N T




Web: www.globalexecutives.com

International Hospitals GroupIHG handles all aspects of healthcare

management for overseas clients inlocations such as Nigeria, Ghana, Angola,Libya and Kazakhstan from feasibilitystudies to project management,construction and management.

The IHG group whose sistercompanies are also involved in the leisureindustry, turned over £16 million last yearand employs around 250 staff.

IHG Finance Director Milind Pradhanexplained, “We don’t go to nice parts ofthe world. Recruitment is difficult althoughthe remuneration is good.”

Fo r m o r e i n f o r m a t i o n v i s i twww.ihg.co.uk

Global ExecutivesGlobal Executives’ unique European

focus is among three key areas setting itapart from other interim managementsupply companies. Its determination toconcentrate on supplying proactiveinterim managers exclusively, rather thanoffer a range of recruitment services,along with its personal and hands-onapproach, combines effectively with itsability to interpret a client’s problems anddeliver a workable executive solution inless than three weeks.

Global Executives supplies interimdirectors, executives and managersacross Europe, including the UK andbeyond and has a burgeoning worldwidedatabase. Nearly 50% of its work last yearcame from overseas with almost 90% ofthat in Europe. More than a third of theinterim managers on Global’s databaseare fluent in a second language, with 35%of those fluent in three or more languages.

Assignment locations so far includeRomania, Holland, Kosovo, France, Spainand Germany. Vietnam and Nigeria arefeatured in its worldwide operatinglocations. It is essential that companiesexpanding into other countries take onsomeone who is not only bilingual, butalso bicultural. Understanding the cultureof the people and how business practiceoperates in the host country is vital. Usingculturally aware and fluent speakersboosts credibility with customers, localemployees and peer group managers.

For more information call 01276 671535or visit www.globalexecutives.com

Boyden

Boyden...IndustryPractice specialistssince 1946

• Board Search

• Management Assessment

• Interim Management

• Financial Ser vices

• Global Risk Management & Security

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• Life Sciences

• Energy & Natural Resources

• Public Sector/Government

• Not for Profit

• Automotive

• E-Business

• Consumer Goods

• Transpor tation & Hospitality

• Professional & Business Ser vices

global executive search

Africa Asia/Pacific Europe Nor th America South America

62 Offices in over 40 countries and continuing to grow…visit a Boyden officenearest you via our website, www.boyden.com.

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search-consult issue 21

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