Professional Services - End Products

Transcript

1. 1 Professional Development for Research Team Sanitized End Products - Professional Services Firm January 2018
2. Executive Summary WHAT ROCKS: CLIENT has a culture and business model that creates a great place to start a career and enables researchers to thrive • CLIENT Research is seen as the training grounds for a great recruiter. Researchers are known to be smart, driven, and outgoing – all of which allow for fast progression. CLIENT differentiates itself in internal hiring by lacking the red tape and strict timelines that hinder progression among the big firms. • CLIENT also differentiates itself based on its culture. The Research team is well integrated in the firm, interacting with members of all levels and tenures. This open and collaborative environment allows for a better working environment as well as a more direct learning process. WHAT WE COMMIT TO: Research is vital to the continued growth of the firm the team is committed to improving the function • Given the current relative stability of the function, there is an opportunity to align on the priorities and expectations of a researcher as they progress to the Research Manager role as well as codifying and developing training materials that help the researchers meet those expectations • There is an opportunity for the research team to take a more active role in “owning” the culture, strategy & positioning of the firm. Given they are often the gatekeepers to presentations and different information, the research team should look to be more proactive in helping consultants share CLIENT’ story and its best internal materials WHAT WE NEED HELP WITH: The support we need to continue improving the function: • More collaboration from consultants during search process so that our learning compounds and we can have more of an impact on further searches • Laptops and technology to support to enable more flexibility in work location and to continue to keep the best talent • Support that efforts to continue to improve the function will be taken into account in evaluation of performance • Alignment on who should own CLIENT Perspectives going forward
3. Structured Recommendations Category Issue Recommendations & Actions Priorities Research team is not always clear on where it should focus its energy • Decide what tasks research should prioritize and be evaluated on. • Determine which strategic projects the research team should drive and how those are created Some consultants have different expectations on what the research team should be doing • Share finalized research expectations with consultants and help the recruiter-researcher relationship evolve around these new priorities Research has been in flux over last 2- 3 years (a stepping stone rather than a core function of the business) and has not built a strong operating rhythm • Continue to address training gaps & develop training materials • Reward research managers in performance reviews for establishing processes & standardizing roles Training & Development Current researchers are early-tenure and trying to balance learning with execution • Codify training materials & identify experts to coach and develop people. Create more formalized process in first two weeks Lack of intro to search process within first month of training • To develop mock search training for incoming researchers Lack of standardized materials • Current research managers to create more physical materials for next generation on research team, including both RA and RM training materials Flexibility There is an opportunity to embrace more flexibility in role to compete with other top executive search firms • In line with the current culture, embrace a work from home model where people can be trusted to make decisions on where to best get the job done. • Acquiring 1-2 PC laptops to be used as a shared resource for working remotely
4. CLIENT should continue to focus on building capabilities and honoring the spirit of trusting, empowering & promoting people early in tenure and career. Areas to continue to focus: • Training & Development: Continue to improve & develop structured training & development during onboarding and throughout the first 1-2 years. (e.g. Industry and functional exposure) • Mentorship: Introduce an informal mentorship program to ensure that Researchers are continuously learning, to increase job satisfaction, and to foster connections between new and old members of the firm • Creative Projects: Researchers should be encouraged to pursue activities such as content creation for CLIENT Perspectives and internal initiatives that interest them • Flexibility: Explore supporting more “flexibility” for the research roles, which can be very data-intensive (e.g. more openness with work from home) #1 Career Path & Research Role Given the size and lower growth rates of big 5, they have a hard time offering fast and challenging career paths to researchers and do not have a clear path to consultant early in career. While not feasible at the moment, as CLIENT continues to grow, we should re-explore leveraging proven outsourcing providers such as WNS. For now, we need to put more emphasis on Encore collaboration within the firm: • Data Quality: Updating Encore in an efficient way (e.g. fill out / update past entries) • More Alignment Internally: If the firm wants to increase use of Encore, will need to identify opportunities to incentivize the use of Encore among recruiters (notes, contact info, resumes) Structured & Detailed Insights From Interviews #2 Technology & Databases Top tier executive search firms leverage proprietary databases and outside resources. CLIENT should invest more in the use of Encore as well as leverage external technology providers
5. Category Competitor 1 CLIENT Takeaway Structure • Hired into sector • Not all teams have RAs, so Associates (who make calls) do a lot of own research (takes ~3.5 yrs to get to this level) • Report to Regional Manager, who is in charge of ~90 ppl, not someone RA’s work with directly • Work across sectors • Two levels of research, not much overlap with Consultant • RA’s report to RM’s that they interact with daily • CLIENT has advantage of being able to promote faster and with an appropriate reporting structure, which helps with job satisfaction • Research is a shared resource for the company, which helps EXs succeed • These elements are structural advantages that the firm should maintain Databases & Technology • Heavily rely on proprietary database, new profiles are added even if not a candidate for specific search • Hoovers, Avention (similar to Hoovers) for target list creation • Internal team managing database, not usually Researchers? • Encore is used but is often not where research begins; encore has incomplete information • Hoovers is used, but is not regarded as essential • Database is managed by interns and RA’s when they have time • There is room to improve the usefulness of Encore before looking for new resources to implement • Encore should be the first step in the resource process, reducing the time spent on LinkedIn Engagement • Researchers split time pretty evenly between candidate identification and BD/other research • Diverse industry / functional experience; constantly learning • Mentorship program for new hires; assigning a “buddy” • Work is highly skewed towards candidate identification • Diversification of industry / functional experience depends on new searches • Informal mentorship from forming relationships independently • In order to keep Research engaged, learning about functions and industries via talks led by EMs and EXs should supplement search- related learning • CLIENT should explore introducing an informal mentorship program that ensures all RA’s experience these relationships Firm Strategy • Unclear mission / strategy • Partnership and teamwork is important; uses cultural assessments • Being an advisor to companies rather than just a recruiter • No clearly defined mission statement, but firm is aligned on finding better candidates more quickly for its clients • Also markets as a consultant or advisor • There is an opportunity to use an internal assessment for people to gain a deeper understanding of their styles and to be more transparent with others Example: Client Benchmarking
6. Is Candidate ID the primary responsibility of research? • How much time should be spent on Candidate ID vs. other projects at the RA level? • Candidate ID, Perspectives Articles, Data/Statistics, Business Development Materials, Other External/Internal Projects • Should Candidate ID be frontloaded (largely finished in the first two weeks) or consistent throughout the search? • Expectations around research identifying the successful candidate Decide priorities of the research team. • Mock search: to expose new RA’s to the search process from start to finish • RA Knowledge Binder: to be used throughout entire time in research as a reference for processes, forms and other resources • Search checklist from open to close • Guidelines for using Google Drive and creating research documents • List of recent searches categorized by industry and function and where to find this living document • 6-month review criteria • Functional/Industry references from internal seminars • List of internal experts on different areas of business • LinkedIn, Encore and F-drive best-practices • Guidelines for updating internal statistics & more • RM Knowledge Binder: Resource for transitioning to Research Manager • Instructions for internal hiring • Review criteria/expectations for RM and RA • General best practices for training and running the research team Example: Priorities/ Expectations of the Researcher Codify and Develop Training Materials
7. 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 • Is working on multiple searches with different consultants • Has an understanding of the basic elements of a good interview • Have a strong understanding of the basic functions of an organization and the differences between different titles (manager, director, VP, etc…) • Is able to expertly and efficiently use systems (Encore, LinkedIn) to support searches • Starts to identify and share strong candidates with consultants based on calibration and feedback • 1-on-1 coaching • Guides on interview practices, approach and questions • Structured feedback loop on quality of candidates presented • Specialty / function discussions with internal experts 6 Months • Understand what qualifies as a good candidate for most roles (experiential criteria and soft/leadership skills) • Is able to develop a very good target list of companies and functions to target • Is able to work confidently with all levels of consultant • Is able to produce thorough and accurate research for non-search related requests • 1-on-1 coaching • Training on research scoping • Training on what information is useful for BD meetings, where to find it, and how to present it 12 Months • Can begin to proactively scope issues with consultants including target companies, candidates and role descriptions • Able to translate specifications to a CLIENT role description with minimal editing from all levels of consultant • Can begin to confidently “push back” on consultants when the role description is not clear or instructions for research support are not clear • Training / guidelines on role description best practices Example: Skills Matrix & Expectations By Role
8. Example: Best Practices / Process Driven 8 Researcher ❑ Ask detailed and knowledgeable questions about the spec/function/industry/client ❑ Complete Position Description within first week of search kick-off and get approval from EX & EM ❑ Present candidates and calibrate with consultant quickly and often Consultant ❑ Include researcher on kick-off call and all preliminary discussions ❑ Get Position Description materials from client and share with researcher and provide guidance on content Researcher ❑ Continue to calibrate and ask for updates on search process and strategy ❑ Actively seek new channels for candidates ❑ Identify sources and contact information when appropriate Consultant ❑ Include researcher on all status calls ❑ Conduct weekly check-ins with researcher and inform of all changes to spec and strategy ❑ Give timely feedback on candidates ❑ Input all notes and relevant material into encore Researcher ❑ Prepare for offer-rejection; where will research go next? ❑ Debrief with consultant on outcome of search Consultant ❑ Prepare for offer-rejection; is further research needed/realistic? ❑ Involve research in negotiation process ❑ Debrief with researcher on the outcome of the search and lessons to be learned START OF SEARCH SEARCH EXECUTION SEARCH CLOSE
9. Example: Mapping Of Internal Expertise 9 Research Skills or Topics Internal “Go-To” Experts & Resources Research Associate Industry Overviews • NAME, NAME, NAME Search Process • NAME, NAME, NAME Encore • NAME, NAME, NAME History of CLIENT • NAME, NAME, NAME Organizational Roles & Hierarchy • NAME, NAME, NAME Compensation • NAME, NAME, NAME Interviewing Others • NAME, NAME, NAME CLIENT Perspectives & External Image • NAME, NAME, NAME Research Manager Managing Others • NAME, NAME, NAME Communication & Presentation Skills • NAME, NAME, NAME Organizational Decisions • NAME, NAME, NAME Influencing and “Managing Up” • NAME, NAME, NAME