When embarking on an executive search for a senior, niche, sensitive or business-critical position, it’s vital you make the right decision first time. Search firms can offer invaluable support in this respect, lending their expertise and access to their network to help you find a suitable candidate.
An established search firm will help you get in front of high calibre candidates within the desired timeframe, assigning a search consultant who aligns to your business goals, values and culture.
At Leathwaite, we approach every executive search assignment in this way, to become your ambassador in the market. We can make judgements and recommendations on your behalf, as if we are based in your office.
Our Executive Search Process
- 1. Briefing
- It’s vital to dedicate sufficient time and energy to the briefing stage of an executive search. This allows us to understand why you feel the required talent does not currently reside within your firm, what the new hire needs to bring, and what criteria they must meet to be judged a success in their first year.
Where possible, Leathwaite advocates spending time with as many stakeholders as possible during this stage, to build a true picture of your soft and hard skill requirements, company culture, and the qualities a successful candidate would possess.
- 2. Market Research & Candidate Identification
- The ability to combine speed with depth of research is a Leathwaite hallmark. Having agreed a selection of target organisations and geographies, we deploy our research function to build a picture of where the talent lies.
Rather than taking a traditional longlist/shortlist approach, we prefer to introduce two “benchmark” candidates after two-three weeks. Both should be capable of performing the role to a high standard.
- 3. Benchmarking & Approaching Candidates
- Following these interviews, we use your feedback to fine-tune the rest of our research. We will meet comparable candidates in person, “drip-feeding” them through to you while moving benchmark candidates through the process.
Our executive search consultants report back to you on a weekly basis, giving you a “real time” update on our progress to avoid costly mistakes and lost time, whilst making our process transparent and accountable.
- 4. Interviews & Feedback
- We will move candidates that fit the brief and benchmark feedback through the process as swiftly as possible. Our competency-based interviews and careful matching to the culture of your organisation ensure that you find the perfect candidate for the role.
We can advise on interview panel composition, and are happy to form part of this should you feel it appropriate for your executive search.
- 5. Offer Management & Resignation
- Once you have identified a preferred candidate, we will do our utmost to bring them into your organisation. Our track record of success in closing senior candidates is second to none.
However, to insure against the possibility of not securing a candidate, we also line up strong candidates as second and third choices, who would also be capable of performing the role to a high standard.
- 6. 90-Day Review
- We know that a candidate’s first 90 days within a new role and organisation are critical to their integration and success. To help mitigate any potential “transition risk,” we have developed the 90-day review.
This allows the candidate an opportunity to give feedback on all aspects of their new role to a third party. Coupled with our own written assessment of their speed of integration, this review offers an invaluable tool to help you manage their early-stage career.
Our client is a global bank, currently navigating a period of significant business and structural change, along with growing pressure amongst shareholders to reduce costs. In light of this, they identified a need to consolidate inefficient operations and technology functions into a single global utility.
Lacking the change skills and seniority internally to lead a combined function of this scale, the organisation came to Leathwaite for their executive search. They recognised we could deliver a discreet and professional service, give a global market overview, and ultimately secure a head who would define the strategy, implement a new model and manage a consolidated function.
We leveraged our global network and in-house research function to map the market across financial and non-financial services firms, while also providing market intelligence about operations models at competitor organisations.
Using our “benchmarking” methodology, we were able to introduce candidates from a range of sectors, allowing the client to refine their need and determine their preferred skillset. Through meeting non-financial services candidates, the client concluded that industry experience was essential for success in the role, and thus on-going research was refined to focus purely on the financial services sector.
Within eight weeks, the client identified a preferred candidate who matched the role and company culture, with two back-up possibilities. The client was able to offer the preferred candidate, who accepted, and began a highly successful process of structural change and cost saving.
To discuss our executive search services, please click here to contact our team