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We hope you find that the information presented here is helpful in meeting the challenges you face every day in the ongoing management of talent (recruiting, retention, and market trends). Your suggestions for topics AND your feedback on topics/blog posts are always welcome!

Archive for May, 2010

Is Your Organization Positioned to Use Retained Search?

Tuesday, May 25th, 2010

Over the past few months, we have seen a tremendous uptick in retained search – and have performed a number of successful searches for a range of client organizations. We have used existing networks, identified new networks likely to yield winning candidates, pre-qualified likely candidates, encouraged still cautious applicants, performed reference checks, and have positioned the ‘upside’ of the client organization and open opportunity to currently employed leaders. We have celebrated and congratulated our clients who have worked closely with us to successfully recruit strong, capable and sometimes guarded new candidates. Over the past 14 years in the retained search field, we have been able to distill a few thoughts about the most successful searches and why they have worked exceptionally well.

Some things work better than others

In general, search works best when you (as the talent management or functional leader) have developed a realistic game plan taking into account your organization’s overall reputation, financial standing and ability to offer a competitive package and compelling reason to join your organization:

  • a pre-approved budget for search
  • positive, concrete ideas about the role it seeks to fill and about the kinds of background and experience that will work well in the position
  • analyzed your and other leader’s networks and professional contacts and understand where it can be helpful to your retained search firm
  • internal politics have been reconciled before initiating a search
  • salary, benefits and relocation have been fully discussed and agreed upon
  • you provide direct, clear and uncensored feedback to the search firm through out the process – with a clear emphasis on getting candidate feedback

Feedback please

Have you worked with a retained search firm of late? What worked for you and what didn’t? Could the search process have been more efficient/effective had you reviewed and followed the list above?

Let us know – david@abelnmagy.com or rick@abelnmagy.com

Unemployment by Education Level

Friday, May 14th, 2010

We all know the number – 9.9% is the national unemployment rate for April 2010. We also all know that the ‘number’ is not a perfect calculation. It is, however, a relative number – higher than 7% and lower than 12%. Some of us know the State of Minnesota rate – 7.4% (it is the March number; they need a longer period of time to come up with the April number). A few of us know the Minneapolis-St. Paul-Bloomington rate – 7.8% (also the March number).

What if you have a Bachelor’s degree or higher?

This is where the numbers get interesting. We have always talked about the importance of education. In each search we have conducted (459 and counting!), the importance of education and continuing education is discussed. Without going back to count, I will venture to guess that over 95% of our clients require a bachelor’s degree; many want more.

What is FULL employment?

When I studied macro economics in college, my instructor was Walter Heller. He had been (MANY years earlier) the Chairman of the Council of Economic Advisors for President John F. Kennedy (no age jokes here please!). While I can NOT say that I remember everything from that class, I do remember that he stated that full employment was between 3.0% and 5.0% unemployment. His point at that time was that you needed some unemployment for a healthy economy – assuring some room for movement.

Government websites – are they ever easy to read?

Check out http://www.bls.gov/news/release/empsit.t04.htm. This is the website that breaks down the unemployment rate by education level (for the age 25+ population). The conclusion is clear if you are advising people about going to/finishing college.

From a search perspective, it continues to support the trend we are seeing – that candidates for senior level positions are in great demand as the general economy slowly improves. We mentioned last week that we are seeing candidates considering multiple opportunities and getting multiple offers. This data may help further our understanding of why.

What a Difference a Year Makes

Friday, May 7th, 2010

As mentioned on my LinkedIn page, I just returned from the International Association for Corporate and Professional Recruitment Conference (IACPR). The spring conference is called the Small Search Firm Forum. It brings together the principals of small search firms from around the U.S. and Canada. (The fall conference adds the heads of talent acquisition from large corporations such as Google, Kodak and Colgate-Palmolive as well as the principals of the international search firms.)

Incremental improvement in the economy

These are the words that seem to best describe what we all are hearing, seeing and reading. Nothing monumental – but incremental and in a positive direction. While search professionals are notoriously optimistic people, there are actually multiple sources for the information.

Executive Hiring on the Upswing

  • This is one of the headlines from the recent ExecuNet RecruitSmart Today e-mail (May 6, 2010). They are reporting an upturn in executive hiring. Their 18th annual report represents a survey of 3,636 participants including executives, search firm consultants and corporate human resource professionals.

CEO Survey

  • A special thanks to Clark Waterfall, one of the other members of the planning committee for the IACPR conference referenced above. He conducted a Q2 2010 CEO Survey. From his survey, he states that “CEO sentiment from our last survey has demonstrably shifted, with almost 75% of CEO’s indicating that the economy has either bottomed out, or is recovering” (see his firm’s Blog at www.bostonsearchgroup.com/blog/ to see the entire survey).

Multiple offers?

  • While not the final indicator, many candidates for varying searches in multiple industries and functions are being considered for multiple positions and in two recent cases, received other offers during their consideration by our clients.

This is something we as an industry have not seen for over a year. (Interestingly, our industry is considered a leading economic industry.)

We’ll end as we began:

  • What a difference a year makes!

Stay tuned – the next Blog entries will also be ‘learnings’ from the conference.