Vishal Kothari

BIIB (Marketing) Roll No.-8108 Presentation on ± Executive search (Financial Services)

Executive search (informally headhunting) is the process of recruiting individuals to fill executive positions in organizations. Executive search may be performed by an organization's board of directors, by executives in the organization, or by an outside executive search organization. The executive search profession ranges in models from "Retained" search to "Contingency" searchRetained search firms are paid a retainer up front to start the search process, another
portion of the fee toward the middle of the process and the balance when the candidate begins work.

Contingency search firms, on the other hand, receive their entire fee at the
conclusion of the search process. Over the years, many contingency firms have begun receiving retainers while retained firms have expanded their models to include flat fees, capped fees, etc.

Executive Search should take Three P¶s into consideration‡ People ‡ Productivity ‡ Profitability

Types of executive search firms
‡ Global: These tend to cover numerous different sectors including financial
services, life sciences, automotive, consumer, energy, pharmaceutical, telecommunications, technology, and media companies, as well as other industries. Such executive search companies will have many offices all over the world and the consultants will typically be split by which sector they are expert in.

‡ Boutique: These tend to be more sector specific. That is to say that they will
cover only one sector and within this sector, they may only look at certain aspects. For instance, there are a number of boutique firms that operate within financial services and these companies tend to look at senior positions (MD, Director and Vice President) within Investment Banking (M&A, Corporate Finance), Capital Markets (ECM & DCM), Sales, Trading, Research, Interest Rates, Credit, Equities, Derivatives, hedge funds and long-only asset management.

Executive search services should be designed with the objective of finding suitable individuals for clients with unique skills and qualifications with following characteristicsExperienced Team Executive search agency with a team of highly experienced consultants, who work to ensure best fitting leadership solutions for each executive recruitment assignment Consultative Approach : Corporate leadership and governance are key factors of corporate strategy and hence have always striven hard to partner clients as a strategic adviser by providing judgment, market intelligence, and acumen. Sophisticated Technology : Key component to our executive search process is our proprietary technology a real-time and trans global industry database having rich information loaded with record number of candidates

Research & Specification : Thoroughly research and study the client's company, including their particular business needs and strategies, financial and market positions and work culture of the company. Development & Placement of Advertising : Discuss with client about the advertising copy giving information of the timing and placement of the advertisement. Rigrous Executive Search Follow Through : meet all the candidates and question comprehensively for rigorous checking of references.

Financial services and consulting industry requires high intellect and is Growing faster than ever before. With the boom in economy and industrial development, funds are rapidly changing hands, finding their ways through different banking and finance institutions for various reasons. Unlike executive selection, executive search does not depend on advertisements to attract candidates or database to reveal who have applied for job. An executive search process usually throws up candidates who are happy where they are, doing well and not actively looking for a change.

Scope of the Practice For financial services
‡ ‡ ‡ ‡ ‡ ‡ ‡ ‡ Corporate & Investment Banking Consumer & Commercial Banking Private banking Management, Mutual & Pension Funds, Trust & Trust Management Transaction and Operational Services. Real Estate Finance Corporate Finance - M&A and Leveraged Finance Private Equity

Lets revaluate the Costs involved in such Hiring
‡ ‡ ‡ ‡ ‡ ‡ ‡ Cost of taking the Access Cost of Recruiters Cost of Delay in Recruitment Cost of High Attrition Cost of extra Attrition Cost of Missed Excellent Employees Cost of Lost Business or Lost Contract or Dysfunctioning of a department Cost of Hiring through Consultants - Rs. 2 ± 3 Lacs PA - Rs. 3.5- 6 Lacs PA (X2) - Rs. 5 Lac PA. - Rs. 7- 15 Lacs - Rs 5 ± 10 Lacs PA - Rs 5 Lacs PA

- Rs 10 Lacs PA - Rs 3 Lacs PA

‡

Total Cost of Direct Hiring through Jobsites

- Rs 44- 65 Lacs PA

Cost benefit by hiring Consultant
‡ Consultants would have Charged: (Say if approx 25 Employees are hired) Rs 10 ± 12 Lacs Per Annum

‡

Saving: .

Rs 34- 53 Lacs Per Annum

Besides Few more advantages provided by the Consultants: 1) Zero Cost in recessionary times as you don¶t pay to Consultants in case you don¶t hire. 2) In Consultants search is guided and supervised by people Highly experienced in recruitment, this ensure just the right quality of profiles coming to you, rather than senior HR people spending time with their Internal Recruiters. 3) Branding: Consultants provide free Branding to Companies. A brandind Ad can cost you from few lacs to few Crores of rupees depending on the medium. As consultants spend lot of time with Candidate telling them positives about your company, it acts as free Branding for your Company. Even job mailers act as free Branding for your company.

Sign up to vote on this title
UsefulNot useful