How global executive search firms in India work?

Each and every global executive search firms in India  has its own unique methods, process and tools for helping the companies dealing in different genres get the employee they are looking for. Hence, the candidates who are taking the services of such search firms must have a clear understanding about its working methodology as well as hiring process. If they get acquainted with the process, they can easily make their mark in front of the companies which comes for the purpose of hiring. Let's have a look at the working of global executive search firms in India:

 

1.      Client Meeting

The process starts with hiring a client company meeting the search firm and outlining its search requirements, organisational strategy, corporate culture and other key aspects. The search company, then delves deeper into the company's structure and search for lucrative job opportunities and then define a candidate profile which aptly matches with the needs of the organisation.

2.      Market Analysis

The search firm indulges in a deeper analysis of the market and create a job profile after considering all the factors. The purpose of doing market analysis is to get the nerves of the market and the competitive environment. The candidate specification document created at this stage is used in the entire recruitment process.

3.      Search

At this stage the search firms explore each and every strategy and source to grab the top talents available in the market place by delving deeper into the market. The various databases are collected and analysed by team members. They make a judicious use of social media tools to get the necessary talent. Through this a list of potential clients is created which is called talent mapping. After talent mapping, search firm starts identifying whether the candidates are suitable for this particular job profile or not.

4.      Creation of a short list

The executive search firms conduct a number of internal meetings and interviews with the candidates to identify the potential candidates. A number of client companies give their own shortlisting formulas to the search firms, else they do it on their own. Once short listed, the executive search firms conduct a basic background checking of the candidate and verify the credentials. The shortlist is then presented to the client company.

5.      Further narrowed list

The client company then works with search consultants for further narrowing down the list presented by search firm; by focusing on reference checks and SWOT analysis of the candidate. Then the remaining candidates are called for an exhaustive interview with the people from the client company.

6.      Offer

If the client company selects a candidate, then offer and negotiation talks take place. The search consultants make sure that during the negotiation the needs of both the parties are satisfactorily met.

​Business Advisory Services

At Cornerstone International Group in India we feel that the process of renovation, change and improvement should be a constant at any organization that aims at maximizing growth. While the primary goals of the Organization may remain unchanged, the context in which the goals are to be achieved has to be seen in a continuous state of flux. Change is perhaps the only constant. In our experience across the globe, we have witnessed cyclical rounds of new change proposals emerge in companies either conceptually or as a conscious effort at the corporate level. However, at the operational level, less contentious and less visible, though not necessarily less important changes are implemented more often keeping in mind the importance of continuity and a need to ward off any disruption to normal routine business activity.

 

Cornerstone International Group – India provides advice and support to clients working in different industries and verticals to help manage complex and diverse organizations through these periods of significant change, driving service improvements and delivering creative solutions. Business Advisory Services for us are focused on achieving the singular goal of organizational excellence through its most precious asset, the people, and the systems that support their work. The Organizational Excellence work stream brings together all of our activities which help to improve the way our clients operate in areas such as HR, organization design, processes and systems. Our work with clients is largely focused on helping them prepare and continue to adapt to a rapidly changing business environment.

 

One of the key impediments in fostering a culture of innovation is the burden of carrying on with traditional hierarchical decision-making structures. This is particularly discouraging to younger staff members. We can state this almost as a truism that hierarchical structures are contrary to efficient work processes and impact morale. For example, in one instance of any organization we helped transform, in one department alone, analytical information on products went through as many as six to nine layers of review before arriving at a cogent plan of action. This is not only unnecessary; it directly impacts bottom-lines adversely. CIG deploys proprietary tools to flatten decision-making structures and make work genuinely more collaborative as opposed to hierarchical.

 

Business advisory services these days may require a different business model from that of traditional services delivery models characterized by a ‘one size fits all’ philosophy. For example, we recognize that business advisory services may be better suited to a business model based on selling of products and services that strives to continually progress up the value chain.

 

The achievement of our interventions through a Business Advisory Plan usually results in five key deliverables:

1.            Enhancing Trust and Confidence: Towards a more stakeholder and client-oriented organizational culture;

2.            Engaging Staff: A globally focused, dynamic, adaptable, meritocratic and physically & emotionally secure work force;

3.            Improving Working Methods: A more open and accountable organization with streamlined procedures;

4.            Rationalizing structures and functions: Optimal locations, common services and expanded partnerships.

5.            Embracing technology to operate more efficiently, reduce costs, and offer additional value-added services.

Understanding the Importance of Company Culture in Ensuring Successful Retained Executive Search

The constantly changing business landscape has also changed the manner in which employees choose prospective organizations. Professional executive search consultants understand that for ensuring better employee retention an organization’s company culture plays an extremely critical role.  That is why most businesses today have adapted a participatory process that focuses on evolving the inherent qualities and skills of the employees to achieve business goals.  

 

About Company Culture

The company culture is many times also referred to as the work culture of an organization and is generally defined as the set of shared values and practices of the work force of the organization. It consists of the general attitudes, values and objectives of the employees in a collective manner. The company culture often helps HR consultants and even prospective employees to determine the future growth of the organization.

 

Importance of Positive Culture

Businesses today are operated and managed in an entirely different manner from the way things were done only a few decades back. In the modern day work culture, employees seek a work environment where they are assured to get ample opportunities for sustained professional as well as personal growth. In this respect a positive company culture is extremely critical to help organizations reduce the employee turn out rate and ensure better retention of skilled workforce. A work culture that helps enhance their skills and motivates them to grow is definitely what most professionals seeking better career opportunities look for.

 

Factors That Ensure A Growth Oriented Company Culture

Before hiring professional HR consultants for carrying out retained executive search, it is important for organizations to make sure that their company culture offers the following.

·         Focus on enhancing teamwork, information sharing and empowerment of employees

·         Availability of speedy information systems that simplify the process of data acquisition and knowledge sharing for ensuring a competitive advantage

·         A growth oriented work environment that encourages innovation

·         Leaders that lead by example and encourage openness and co-operation between team members.

Executive search firms in India – Need of the Business

The success of any company depends on the people working for it. And every company wishes to hire the best executive to accomplish the tasks. However, the wish becomes reality only when the HR (Human Resource) manager of the company is able to hunt the right talent required.

 

With so many opportunities in the market, the employee turnover ratio has increased over a period of time. As a result the need for hiring right man at the right position for the right task has increased. In such a scenario, the executive search firms in India have achieved a unique position in the market.

 

Executive search firms use their expertise to understand the business requirements and provide the top executive suited to the business. Though such firms play a role of an intermediary, they carry a huge responsibility on their shoulders towards the business.

 

As a background check is necessary for potential life partner, same way a credential check is required for engagement of potential executive search firms. Choosing the right firm for the business is as critical as choosing a right life partner. If a mistake takes place at this stage, it is indeed that company will have to suffer in longer run. While selecting the firms it is essential to carefully scrutinize the credentials of the various firms in consideration and then take the final decision.

 

The firms which have achieved a top place in India is due to their commitment towards deliverance of quality service to their clients. Even companies hiring such firms have made a vital inclusion of clause of quality of service in the legal agreements. When rewards are directly proportionate to the quality of service, responsibilities are fulfilled with high level of accuracy.

Why you should work with an Executive Search Firm?

Ask any HR Manager and he will tell you what his biggest worry is. It is managing the consequences of a wrong hiring decision. And why is it so? Because the cost of a poor hiring decision has a long term adverse impact on the business itself. Recognizing this concern, most professional organizations today choose to engage an Executive Search Firm rather than carry out the task themselves. It is widely acknowledged that a good search consultant knows well his/her marketplace or industry and his/her job is to constantly connect with talent and opportunities even if there is no immediate mandate to work on. Networking with the right professionals is an end in itself and may become a means later on. This is the reason why a top-notch search consultant can be an excellent business partner too. He brings the insight of an outsider but with an impartial understanding of the wider market.

 

It is not surprising therefore that a large number of organizations choose to hire the services of an established executive search firm when faced with a critical hiring need. We see this trend getting more and more pronounced even in organizations where a separate talent acquisition team may already be in place. This bears testimony to a growing realization that Executive Search is a discipline by itself, more of an art than a science, and that an external agency to conduct critical searches is as much a necessity today as having an expert doctor on your panel over and above a very efficient primary care nurse in-house.

 

As a highly specialized branch of management consulting, retained Executive Search Firms and the consultants who work for them are experts in assisting clients with the critical and challenging task of bringing the best professional talent into their organizations. Whereas knowing the benefits of working with an executive search firm is essential since hiring the best executives and board members is vital to the success of any business, identifying which executive search firm will deliver the best candidate for a particular organization may be a difficult task. One often hears complaints from HR Managers that their searches with executive search firms did not yield the desired result. More often than not, this is a consequence of choosing the wrong firm. Unfortunately, many organizations fail to properly qualify Executive Search Firms often with disastrous results. Therefore, understanding how to evaluate a search firm’s capabilities up front is crucial.

 

Given the criticality of hiring the right person, every organization has the right to demand the highest     standards of service from an executive search firm one may choose to work with. And, it is the contractual obligation of the executive search firm to deliver the best possible service. It is in this context that recognition and membership of an industry association becomes highly crucial in checking the credentials of an executive search firm.

 

There are several key industry associations for retained Executive Search Firms, the most visible and important being the AESC (Association of Executive Search Consultants). AESC members comprise an elite group of top tiered retained Executive Search Firms. All members agree to abide by the Association’s Code of Ethics and Professional Practice Guidelines, and meet strict membership criteria. Membership in the AESC is the only form of quality accreditation that exists for retained executive search consulting.