cfo search firms

 Research firms provide an ideal analysis of industry, comparable to corporate espionage but with the focus on human talent and their strategic roles. Oh and it's entirely legal - Put simply if you're the VP of a personal equity firm and you wanted to know how a high ranking competitor had organised their team, who they had recruited, in what roles, how these were performing you then might speak to a research firm. Talent mapping at it's very best can allow an organisation to emulate a competitors success and avoid it's costly pitfalls - invaluable information particularly if it's a fresh venture or an unfamiliar marketplace for the client in question.cfo search firms

Research firms operate differently from an executive search consultant or a generalist recruiter in they don't manage the recruitment process. There's a great deal of informal referencing and they might analytically take apart the utmost effective performers on the market, speak to the key players and identify who'd be ready to accept an approach but unlike Executive search they won't hold your hand as you make that initial approach. Consider them as a consultancy and you won't go far wrong.

They paint you an image of industry built up through painstaking research which takes place over a far longer time period, usually 90 days minimum. Obviously many executive search firms have their very own in-house researchers. Essentially the business is won by the executive search consultant or firm who maintained the connection - often juggling many similar relationships with clients on a single sector. The search itself then farmed out to the resource function. The study function would then carry out the specific search, taking the role to promote and identifying suitable candidates for the client.

Some researchers could have the mandatory skills to work directly with a corporate client, but would they contend with the all-round service and extensive networks that an established executive recruitment firm offers? The study function has long existed to aid executive search firms making use of their workload. Traditionally, it was the work of the researcher to spot potential candidates who're not merely looking for a new position, but also who match a client's profile.

The study industry has grown steadily, and firms that operate independently from recruitment consultancies have seen significant growth, especially during times of economic crisis. Natalie Jacobs, Commercial Director at research firm Seren PSG explains: "Research thrives in a poor economic climate, as HR strive to obtain VFM while achieving operational targets. During the last recession, research companies increased their market share. As businesses fight to survive, it's more important than ever to recruit and retain more of the right talent, so the intelligence that research companies can gather is invaluable."

Based on Katherine Moody, MD of The Research Bank, the recession has led to an alteration in the way clients work: "Generally, clients who've needed our help have asked us to work to much tighter deadlines and have needed information even faster than previously. In recent weeks, due to our networks, numerous clients have asked us to track down candidates who've experienced, or are likely to experience, redundancy. We certainly feel that in these historic and tough economic times all clients will look at cutting expenses and hence demand a lot more from suppliers. Good research firms should therefore be able to capitalise with this new environment."

The study function is essential to the recruitment process, but does it prove far better to work directly with a research firm rather than recruitment consultancy?

Jason Hassall, Managing Director of executive research firm Hassall Gill, believes that when it comes to the two, it is important to remember the pros and cons of every "Whilst employing a research company provides significant cost savings, this could be a false economy with the client interviewing a greater percentage of individuals who, whilst they look great in writing, do not need the soft skills required for the role or have the right fit culturally. Additionally, most researchers are not equipped to offer the advanced strategic input of a research consultant." Hassall continues to explain that one of the very most significant advantages of using research over search is cost, an all-important factor in recent times: "The existing economic downturn is going to have a substantial impact how search is conducted with more and more corporate firms looking to drive down costs. Search firms is going to be chasing fewer assignments, fees is going to be cut and inevitably purse strings will tighten. I do believe another several years might find more research firms change their business model and work more and more with direct corporate clients or face going out of business." It could seem like a nice-looking, cost-effective option but can research firms really contend with recruitment consultancies in working directly with a customer? If time is of the essence and a candidate becomes necessary quickly, a research firm will have a way to draw on its established networks and resources to fulfil the requirement.

Tracey Alper, Director of Business Development for executive recruitment firm WH Marks Sattin, states: "If your client's CFO is leaving and they want an alternative quickly, perhaps someone who is able to start within 90 days or less, you haven't got time and energy to start headhunting folks from scratch. You have to work to your client's time scale and by the time you've found someone, approached and met them, then arranged meetings with the client, you're out of time.

But when you're working with somebody in the team here, who spent some time working at the right level in the sector for quite a while, they know the right visitors to approach straight away." Another problem that will arise when working directly with research firms is that the client knows what a recruitment firm does, but may not be entirely acquainted with the investigation process. "What this means is researchers are experiencing to use and educate HR and line management on the nuances of managing search candidates," says Hassall. "As a result, you see a greater amount of candidates dropping out or being 'bought back' by their current employers. How could you understand and influence a candidate if you have never even met them?" Kirk explains: "The main area of the process is understanding the client's real requirements, above and beyond the role specification. You can only find the correct candidates if you are fully briefed concerning the skills, experience and qualities that the employer is looking for."

Ross Crook, Head of Executive Resourcing, UK Retail Bank, Barclays believes that research firms can provide invaluable support to an in-house team: "When considering working with a research firm we wondered whether it would require additional time and involvement from myself and my resourcing to team to develop and manage candidates. Used the amount of service has felt no different. The main difference has been the flexible transparent approach, added value market intelligence, time and energy to hire reduction and significantly reduced cost."cfo search firms

So should recruitment firms feel challenged by the rise of research firms working directly with clients? It appears their reign may be threatened by firms like Seren PSG, who demonstrate that they're "equally proficient at executive search and strategic talent planning, which will be exactly what companies should do to ride the tide of recession."