While listening to clients we were told that the search industry is becoming increasingly commoditized and seldom adds value. This was also the conclusion from a Harvard Business Review article [1] that cites that only one out of five externally hired executives are viewed as ‘high performers’ at the end of their first year. A similar conclusion from a McKinsey article [2] states that almost half of external hires are regarded as failures or disappointments after two years.

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In most cases, the failures are attributed to the lack of ‘cultural fit’. That is certainly a cause in some situations despite the use of increasingly sophisticated assessment products. In some cases this is probably also related to the fact that a number of organizations are not aware of, or open about, their own ‘real’ culture.

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However, in our view, the main reason for failure with external searches is the lack of understanding and alignment of the required business outcomes for the role going forward.

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Most traditional search firms are happy to accept a short briefing from the CHRO and/or the CEO and then ‘cut & paste’ an existing Position Document so that they can go to market quickly.

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Whilst such an approach covers the typical requirements for a CEO position and other functional roles, it is one which we strongly disagree with, as we believe the key success factor for most projects is a crystal clear and aligned view on the desired business outcomes.

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We, therefore, embark on our searches and leadership succession initiatives with a consultative approach to obtain a profound understanding of the desired business outcomes including sector dynamics, business challenges to be addressed for successful strategy execution, the wider team dynamics and stakeholder alignment. 

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Although our approach is initially time consuming for both our clients and us, we both benefit substantially:

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• Rather than an extensive list of boilerplate requirements, we gain a clear understanding of the desired business outcomes that really matter and the actual meaning of the requirements. This will ensure perfectly aligned business and human capital strategies to create value

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• Rather than singular input on requirements, we capture the value of diverse views from multiple stakeholders before looking into capabilities and seek full alignment on what we will be looking for

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• Rather than only understanding the requirements for a specific role and getting a simple snapshot of the culture, we gain an appreciation of the team dynamics. In many cases we also benchmark the organizational design for specific roles with high-performance organizations

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• Rather than a standard ‘cut & paste’ job description with company information from the website and a long laundry list of standard requirements, we develop a highly compelling Position Brief not only describing the company and key requirements, but also the specific sector dynamics and how the chosen candidate will add strategic value. The latter is often a determining factor to get the most desired candidates to the table. In our experience, this has also contributed to our outstanding track record of placing diversity candidates

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• Rather than looking for more of the same within the sector, the desired business outcomes will take the candidate sourcing strategy to a different level and not limit the approaches to the ‘usual suspects.’ Not only will that ensure we get candidates who can deliver on the desired business outcomes but expand the talent pool to include lateral and diversity candidates significantly

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• Rather than ‘mathematically’ matching candidates with a long list of ‘boilerplate’ requirements and as a side-effect, eliminating great candidates with some imperfections, the desired business outcomes will make it easier to evaluate candidates on what really matters 

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Whilst we feel strongly about reimagining search, it also comes with the necessity to deliver on such a promise. We believe we are uniquely positioned to do so given:

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• A highly successful pre-search career in consulting working with some of the world’s most successful organizations on transforming their businesses

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• A personal experience of working not only in senior executive roles but also as a Non-Executive for listed corporations enables us to appreciate the views from both the executive and non-executive management

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• A strong affinity for how technology will continue to accelerate business transformations for years to come through an entire career working closely to both ‘large tech’ and the current wave of thrilling entrepreneurial start-ups disrupting most sectors

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[1] Martin, J ‘For Senior Leaders, Fit Matters More than Skill.

https://hbr.org/2014/01/for-senior-leaders-fit-matters-more-than-skill

[2] Keller, S & Meaney, M ‘Successfully transitioning to new leadership roles’. https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/successfully-transitioning-to-new-leadership-roles

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About Board and Technology

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Board and Technology is a purpose driven Talent Strategy and executive search firm committed to optimize the alignment of business and talent strategies for sustainable value creation. They have, collectively, some 30 years working globally at the highest level of Executive Search across a spectrum of sectors, functions and geographies for some of the world’s most prominent organizations. 

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