Whilst Norman Broadbent Plc (LON:NBB) Executive Search team successfully closes 95% of assignments, the market average amongst traditional competitors is as low as 60%. And of that 60%, the time from instruction to start date ranges from 9-12 months. There are many reasons why ‘traditional’ search firms fail to deliver and why the process takes so long. These range from average (or no) in-house research capability, a limited understanding of the role and/or market, lack of candidate engagement due to poor brand recognition, or quite simply a lack of imagination and going beyond the obvious to identify more diverse or hidden talent.
In the last year, around 50% of assignments managed by Norman Broadbent Interim Management have been the result of another Search firm failing to deliver. Driven by a need to meet commercial objectives, or to relieve the pressure on a heavily burdened management team, hard-pressed clients cannot wait up to 12 months for critical talent. With businesses now facing increasingly complex and time-sensitive issues, clients need urgent people solutions which deliver value and outcomes quickly, often within days.
But how are business critical Interim appointments made so quickly without there being any dilution in quality of candidate, process or due diligence?
- We have built up dynamic talent networks which are the foundation of our Interim business. We do not advertise, nor do we rely on social media to ‘scrape’ anonymous data. We know from experience that quality talent operates via trusted discreet networks such as ours
- We are able to tap into a hidden market of high calibre professionals. They are often available for a variety of positive reasons and will not be easily accessed by traditional research methods as they are no longer attached to an organisation
- When shortlisting, we do not rely on a LinkedIn profile as others do, but instead seek references based on personal experience. Such recommendations from other professionals are vital as they give genuine, meaningful insight into the skills and experience of shortlisted candidates.
Respected and recognised by senior professionals and business leaders, we are a trusted brand. For those who are exploring new possibilities or seeking market advice, we are the firm of choice. This enables us to engage with, and get access to, exceptional talent who, in many cases, have made a conscious decision to explore new opportunities or have taken professional time out. Such talent often drops off the radar and is disregarded by traditional Search firms who focus on the more obvious candidates. We recently helped a client in the retail sector who had been let down by one of the larger Search firms. After waiting for 10 months, our client instructed us to introduce an Interim to help the CEO with his increasingly busy workload. Having successfully introduced the Interim within days of being instructed, the successful candidate said “I’m not sure why I was missed by the first Search firm. I knew them very well and was a client of theirs, but that is now a year ago and before I took my sabbatical.”
Finally, as an Interim Provider, we meet many Career Interims who are committed to this particular professional lifestyle, which sees them move from one assignment to another. However, this is only one of the many diverse talent pools we tap into. As the world of work changes, we meet those who are between roles, women who are returning to work, candidates wanting to change sectors and those relocating to the UK.
Markets wait for no one. If your business is suffering because of a delayed Executive Search and you feel opportunities are passing you by, we could have the solution.