Talent Catalysts: Executive Search Service

Executive search agents are a propelling force in the talent arena that catalyses changes in today’s VUCA business world. However, the Executive Search function does not have a century long history; rather it has gradually grown and taken up a prominent place in the last five decades gone by. Today, Executive Search Services extend around the world and in China alone there are already more than 50,000 headhunting firms. Apart from International firms like Egon Zehnder International, Boyden, Tran search, Cornerstone International, Heidrick & Struggles there are firms like Hudson, China Headhunters and Bo Le Associates which are regional specialists in Asia. In India too, the Executive Search industry has been growing. India Inc. boasts of several top executive search agencies.

Today, retained executive search business generates revenue of more than US$10 billion a year around the world. Like any other industry, the Executive Search industry too has faced pressing challenges. Some triggered by the financial crisis in 2008 and radical changes in communication have also occurred due to the rise of social media among professionals. The changes in technology and communication mediums make change imperative for Search industry too.

Firms that are able to control costs while delivering more will successfully win over clients. The ability to accomplish this feat requires a sharp focus on relationship building with clients and great domain knowledge. In order to deliver client-oriented services, commitment and expertise from both the company as well as the consultants are a pre-requisite.

The raging war for talent is only getting tougher as human capital is now the foundation in building a company's future and in gaining a sustainable competitive advantage. The growth of Human Capital Centric Organisations has brightened the spotlight on “Talent”. The rules of success and must-have attributes for business leaders are being re-written. CEOs must venture out of the boardroom and into the frontline as change begins at grassroots level. Apart from Business acumen, emotional intelligence and resilience have become the hallmark of great leadership.

The emergence of social media is another phenomenon which taken in an Appreciative Inquiry sense can only help the Search profession. In comparison to clients, headhunters have to master every tool available faster and better; consultants must multitask and possess savoir faire.

Today’s work force expects total rewards from an organization which includes not just monetary rewards but also training and development opportunities and nurturing environment. Candidates are now more mobile than before and work-life balance is increasingly becoming one of the main concerns. As an advisor and mentor to candidates, headhunters must provide objective analysis for candidates who are making important and critical career moves.

The mission of Executive Search remains to recruit the best possible candidates to accomplish critical jobs successfully. It requires skills and knowledge to say the least. One of the biggest satisfactions is attained when successful candidates achieve excellence for companies and become crème-de-le crème and meet their social responsibility. Thus Executive Search agents continue to play a critical role in fetching and placing talent.