MIke travis on How the Internet Has Changed Executive Search –
And Why Clients Should Care

The Internet has changed everything in the last ten years, including the executive search business.  Here’s what I think has changed in our industry, and why it matters to clients.

It wasn’t so long ago that recruiters could make a fine living by selling their access to potential candidates.  Most firms, ours included, made a big deal of their proprietary databases and their personal contacts.  Search consultants would make the clichéd boast “I’ve got a great Rolodex.”

Today, that statement is as dated as the Rolodex itself.  Of course contacts still matter, but the explosion of third party databases and other recruiting tools on the Internet has made identification of candidates a commodity – anyone can do it.  The change has decimated mid and low range recruiters (usually working on contingency) who provide candidate resumes but few other services.  At the high-end, it has crushed weak retained search firms that charge high prices without providing great service.

In contrast, the best high end executive search firms - including Travis & Company - continue to do well.  That’s because they focus on the consulting aspects of recruiting, and provide value that goes far beyond identifying candidates. 

All successful recruiters have excellent contacts, but that alone is not what makes them successful.  Great recruiters succeed because they operate like a temporary member of the client’s management team, and get to know the company and executives intimately.  Armed with deep knowledge of the client, they sell opportunities in a compelling way (thus bringing more candidates to the table), and provide insightful assessments of candidates.  The best search firms charge high fees, and deliver a solid return on their client’s investment by recruiting executives who increase the value of the companies they join.

What does that mean for companies that wish to engage an executive search firm?  Here are a few suggestions for maximizing the value of an executive search relationship:

• Demand in-depth knowledge of your industry.  This enables the consultant to quickly understand your business and present it with fluency to potential candidates.
• Ask pointed questions about the level of service you will receive.  Secure a commitment that the person you hire will actually do the work on the search.  This is critical, because if the project is offloaded to someone who does not know your company you will get inferior results.  One way to assess this is by asking how many other projects the consultant is working on.  If it is a big number, there will be little time for you.
• Speak to former clients who can tell you about their experiences.
• Look for high intelligence and great communication skills.  Without them, the consultant won’t be able to sell your company credibly, or provide candidate assessments you trust.

Finally, discount the inevitable claim “I know everyone in the industry.”  All of us have great contacts, and today it matters less than ever.  Look for a smart, proven search consultant who commits his personal time and effort to making your search a success.