Executive Search Industry

Introduction

Content  Background  Operations  Interview I  Interview II  Conclusion

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: 1Korn/Ferry InternationalKorn/Ferry International 2Heidrick & StrugglesHeidrick & Struggles 3A. T. KearneyA. 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 I Mr 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 clients  select 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

Attitudes towards Consulting Career Career prospects is more important than salary Be passionate Pressure Management Change Management Sense of self-awareness Sensitive to the surroundings

Conclusion

Stable Competitive Drawbacks on Local Search Firm in Development