executive search industry. introduction content background operations interview i interview ii ...

Executive Search Industry

Introduction

Content

BackgroundOperationsInterview IInterview IIConclusion

Background

• 1000% in business in two decades

• In 1999, US$6.7 billion for worldwide executive search

Working area– Executive search– Human resources– Career training

Only one firm in an industry

Only for executives’ salaries over 1.5million per year

Reason for hiring a headhunter firm (employee)

• Help to find the perfect match

• BUT:

–This is NOT going to work!!!!!!!!!

Why Employers hiring headhunter firms?

• Cost-effective– Information– Time share

Charges & Ranking

• 25-35% of the first year salary

• Ranking of companies worldwide:

1 Korn/Ferry International

2 Heidrick & Struggles

3 A. T. Kearney

Expertise Areas

• Consumer Industry/ Retail

• Financial Services

• Industrial

• Technology

How to become consultant

• Extensive knowledge of an industry

• Specialist knowledge

effectively qualify suitable candidates

• prior experience in human resources, personnel or recruiting

• Two paths to become a consultant

1. Specialist in an industry

2. Researcher for a consultant

Executive Search vs.

Recruitment Agency

Executive Search

– International

– Charges on Employer

– Employer Decision

Recruitment Agency

– Local

– Charges on Job Seeker

– Agent decision

Operations

• Job Specification

• Research

• Interview

• Presentation

• Decision

• Report

Interview WorldWide Human Capital Consulting

WorldWide Human Capital Consulting

• Established November 2002

• Scope of Services– Executive Search– Executive Development & Education– Career Management– Outsourcing

Cont’d

• Industries

– Retail

– Banking & Finance

– Technology & Communications

– Commerce & Industry

Interview IMr Armstrong Lee

Personal Background

• Director& Management consultant

• Advising renowned local & international companies

e.g. re-engineering, market studies, financial planning, strategy formulation and execution.

• Executive positions at leading companies in Retail, IT and Insurance industries.

Keys to be a successful Consultant

A. Services business• Quality

• Industry knowledge: competitive advantages

• Banking, Building Installation Equipment, Construction Materials, Fast Moving Consumer Goods

B. Business network

• Valuable asset: relationship establishment

• Branch out network

• Referral • Creativity

• Frequent contributor to major publications and media

e.g. SCMP, Hong Kong Economic Times, Metro Broadcast, TVB News, etc.

Interview II Ms Carrie Lau

Personal Background

• Managing Director

• First job: Executive Search Associate – Promoted to a consultant after 3 months

• Worked for a number of Executive Search Organization

• Started her business

Personal Background

• Majoring in Psychology

– Identify personality of people

– Helps knowing more about candidates and clientsselect the most suitable candidates

Qualities of a good consultant

• Objective and Non-biased

• Selling Skills

• Negotiation Skills

• Analytical Mind

• People-oriented

Comments on Fresh Graduates

Before Interview

• Well-preparation

- In-depth studies on company and industries industry search, especially for Multinational Corporations

• Compensate limited experiences

During interview- How they view candidates within 10

minutes?• Communication skills• Eye contact• Answering skills -relevancy of answers, reasons

behind the answers

Employers’ Comments

Working attitude

not hard working enough

Too calculative on wages and working hours

Too much sick leaves

• Preference on Secondary graduates: better attitude, loyalty and potential

Conclusion

Conclusion

• Stable

• Competitive

• Drawbacks on Local Search Firm in

Development