Check_In_Document_2_Professional_Services.pdf

Transcript

1. Strategy & Research Capability Building Project Check-In Paul Millerd – December 18th 2017
2. To discuss 1. Review current status of project, confirm process direction 2. Review slide templates and CLIENT “story” 3. Discuss high level research findings & next steps (page 8) 4. Identify 1-2 project opportunities (developing storyline & template and coaching/training with research team – date TBD) 5. Capture Insights From Other Firms (see summary of findings slide x) Raise the key things I want to discuss from beginning
3. Timeline Interviews & Define Research Role & Responsibilities Refine & Finalize Roles & Responsibilities and Priorities Coaching, Training & Support November 6th – 19th November 20th – December 8th December 9th – 31st ✓ Kick-off call with PRESIDENT ✓ Align on overall timeline and deliverables ✓ Finalize list of interviewees ✓ Create draft interview guide and get feedback from PRESIDENT, Madison & Allison ✓ Conduct interviews (video, if possible) ✓ Develop initial draft of findings ✓ Develop an initial draft of the roles & responsibilities of the research function, including short and long- term priorities. (see pages 22-24) ✓ Added: Develop story around CLIENT strategy and culture and incorporate into updated overview deck ✓ Iterate with research team, PRESIDENT and other relevant stakeholders ➢ Work with PRESIDENT and research managers to take actions on recommendations to re-shaping research function (to discuss today) ➢ Identify 1-2 hands-on projects to work collaboratively ➢ 1) Story & Presentation deck ➢ 2) Coaching with client pitch with research team ➢ With a clear definition of the roles and expectations, work with the current research team to prioritize goals and opportunities and translate to their day to day roles (in progress) • Conduct one-on-one or team trainings around fundamental consulting skills, presentation development and overall time management/managing up skills (date TBD) IN-ACTION ITEMS IN GREEN
4. DRAFT DOCUMENTS FOR FEEDBACK
5. Understanding the “Strategy” of CLIENT -Where Is the Firm Going? SYNTHESIZED STORY POINT #1 • CLIENT is expanding it reach with a focus of serving the best people at top global companies by offering an attractive alternative to the current large executive search firms built on access, speed and quality • CLIENT consultants serve fewer clients, have limited or no “off-limits” policies and can find the best candidates much faster than competitors SYNTHESIZED STORY POINT #2 • CLIENT partners with leading institutions to offer customized and creative solutions to client problems • CLIENT approaches relationships with candidates and clients with a long-term mindset offering solutions to clients over decades, not months SYNTHESIZED STORY POINT #3 • CLIENT has built a team of driven high-performers that have the autonomy to build deep relationships and creatively solve client problems • CLIENT consultants spend more time to get to know candidates and clients at a human level and invest in coaching of candidates to help them succeed in their roles This is a 2nd or 3rd draft of a high level story I was developing with the client. I identified three key themes but wanted to get feedback from the client to see what resonated and what he might tweak/change
6. • Principled & High Integrity: The firm will focus on doing the right thing for its clients and employees even at a short-term financial cost • Point 2: Detailed written description of point 2 • Point 3: Detailed written description of point 3 • Point 4: Detailed written description of point 4 • Point 5: Detailed written description of point 5 • Point 6: Detailed written description of point 6 CLIENT ENABLES PEOPLE WHO ARE: Similar to the previous docume t – An early draft of one of the agreed-upon end products they wanted me to develop – here for feedback & tweaks
7. REVIEWING INITIAL FINDINGS
8. Research: Perception & Challenges Perception of Research • Valued Internally & Future of the Company: “If the research function disappeared the company would have very serious issues.” The researchers are seen as the “future of the company.” Consultants and senior leaders want the team to thrive – “when they succeed, it makes everyone else better.” They are currently seen as a “consultant training program” • Opportunity to Be More Proactive: Seen as the group that drives the process and “gets the names.” Some consultants would be open to them being more proactive and “drive” the process Top 3 Challenges Recommendations & Actions Challenge 1 summarized • Detailed recommendations and actions Challenge 2 summarized • Detailed recommendations and actions Challenge 3 summarized • Detailed recommendations and actions Findings Will be part of my final report but want to sanity check anything before presenting to larger team
9. Research Operates Against the Rhythm of the Firm Research Function Consultants / Rest of Firm • High volume • Low volume • Many stakeholders • Very focused on clients • Responsiveness > quality • Quality first • Limited training • Trained in research / other firms • No clear priorities or direction • Clear focus on one goal – find right person “STORY” FRAMEWORK This is a very simple framework I developed. I wanted to use it to frame the thinking about the research function to see if it highlighted some of the tensions we were finding
10. CLIENT Researchers Have a Larger Scope Compared to Big 5 Search Firms Research Team Top 5 Exec Search Firms CLIENT Knowledge Team Consultants • xxx • xxx • xxx • xxx • xxx • N/A
11. Research Priorities Candidate Identification Business Development Research, Data & Insights Consultant / Leadership Perspective Juggling all three: Researcher Perspective Candidate Identification above all else Candidate Identification Business Development Research, Data & Insights When there is time: Questions to Address: Does it make sense for Research to be focusing on research, knowledge & insights? If not, who should “own” this? Or is there a different type of skillset to hire? ANOTHER VISUAL FRAMEWORK “Juggling” of priorities. Used for reaction & discussion. In the convo I might say “does this resonate?”
12. Detailed Challenges & Issues Priorities & Expectations • Detailed findings (much more information than earlier summarized findings) Perception of Research • Detailed findings Career Path • Detailed findings Training and Onboarding • Detailed findings Role of Research: Knowledge & Insights Pieces • Detailed findings
13. Opportunities in Research Process Business Development Search Alignment Elements for Success • x Opportunities • x Elements for Success • x Opportunities • x MORE FRAMEWORKS This is a “here is how I think about what the employees are trying to do and here are some of the good things that are happening and some of the opportunities for improvement”
14. REVIEWING FINDINGS: BENCHMARKING
15. Executive Summary: Benchmarking DETAILED FINDINGS: • Training & Development: Continue to improve & develop structured training & development during onboarding and throughout the first 1-2 years. (e.g. Industry and functional exposure) • Finding 2: Details • Finding 3: Details • Finding 4: Details • Finding 5: Details #1 HIGH LEVEL FINDING 1 xxx #1 HIGH LEVEL FINDING 2 xxx DETAILED FINDINGS: • Training & Development: Continue to improve & develop structured training & development during onboarding and throughout the first 1-2 years. (e.g. Industry and functional exposure) • Finding 2: Details • Finding 3: Details • Finding 4: Details • Finding 5: Details
16. CLIENT & COMPETITOR 1 Category RRA CLIENT Takeaway Structure • Detailed findings (often not the most structured) • Two levels of research • Uses 360 reviews to capture a Researcher’s progress • Given CLIENT size, researchers cannot have as much focus on sector or geography • However, with less levels and hierarchy, CLIENT has advantage of being able to promote faster • CLIENT may miss out on deeper industry or functional knowledge Databases & Technology • Detailed observations • Detailed observations • ACTIONABLE INSIGHTS Engagement • Detailed observations • Detailed observations • ACTIONABLE INSIGHTS Firm Strategy • Detailed observations • Detailed observations • ACTIONABLE INSIGHTS ANALYSIS FRAMEWORK 1. Observations against a set framework (the four arears) 2. Potential next steps / takeaway (“heres why this matters or how to react to it…”
17. TO DISCUSS: ROLE RESPONSIBILITIES
18. Research Skills & Expectations –Research Associate Research Associate Training / Support Needed 1 Months • Has a strong understanding of the search process and the research role in that process • Has a high-level understanding of major industries and functions • Has basic ability to use systems (Encore, LinkedIn) to support searches • Is able to scope initial research requests by asking clarifying questions • 1-on-1 coaching • Initial in-depth training on the use of LinkedIn • Develop mock search for end-to-end search simulation 3 Months • Detailed expectations & responsibilities • ADDITIONAL SUPPORT NEEDED 6 Months • ADDITIONAL SUPPORT NEEDED 12 Months • ADDITIONAL SUPPORT NEEDED Based on the reflections of the current Research Managers DELIVERABLE Co-created a “responsibilities” matrix with client team members – iterative approach and presenting 80% completed draft to client during this call
19. Research Skills & Expectations –Training Resources Research Skills or Topics Internal “Go-To” Experts & Resources Research Associate Industry Overviews • X Search Process • X Encore • X History of CLIENT • X Organizational Roles & Hierarchy • X Compensation • X Interviewing Others • X CLIENT Perspectives & External Image • X Research Manager Managing Others • X Communication & Presentation Skills • X Persuasive Writing • X Influencing and “Managing Up” • X What else…? • X • x
20. Appendix: Key Quotes
21. Selected Quotes: Strategy Vision “to be the best executive search firm” “to offer the most value to our clients compared to competitors” “break up the monopoly of the big five” “do good work and be profitable” “we aspire to be the top 5% of executive search firms serving the top 5% of people at those firms” Growth “our mission is to grow and expand” “open offices and building team – repeat clients “scared about the future – is it scalable?” “more clients, more searches” “very focused on expansion…make it a powerhouse” Solutions “PRESIDENT says we provide solutions most commonly in the form of helping them build teams or individuals that can take the company to the apogee of their industry” “he wants us to think beyond search to solutions” Breaking the Tradeoff Between Quality and Focus “getting the best people as quickly as possible” “high touch, low volume” “we cap the # of searches” “no limits is not an issue” “less searches” “to close searches more quickly than other firms” A Team of People, Not a Firm “we need to sell our culture” “doing it as human beings” “relationships, not clients or candidates” “we are better at engaging with candidates and keeping them engaged throughout the process” ADDITIONAL INSIGHTS Anonymous quotes from employees. I picked once worth highlighting. This kind of showing the senior person whats happening in the org can be very valuable