Trusted Advisors in Executive Search for over 60 years

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Trusted Advisors in Executive Search for over 60
years
Challenges Opportunities for a Search Firm ERA
National Convention, 2005
Dinesh Mirchandani Director, Asia
Pacific February 17, 2005
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Sidney Boyden founded Boyden Associates and the
retained executive search industry in 1946 in New
York City
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Boyden global executive search
Our Mission To help our clients gain and sustain
competitive advantage. Our Objective To enhance
our clients success through the recruitment,
assessment, and development of high impact
leaders and management teams. Our Core
Values Delivery of leaders through global
co-operation High Touchpersonal
relationships Uncompromising integrity and
professionalism Entrepreneurial spirit
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Why Executive Search?

At senior levels in industry, the best
professionals are not actively seeking a
change. They will not respond to an ad, email, or
other passive solicitation nor put their CVs
on-line. Many do not even have a CV. Executive
search is an engagement process by which the most
suitable professionals are identified,
approached, evaluated, and subsequently
transformed into candidates worthy of filling a
critical senior position in a corporation. Many
of these candidates exceed expectations, some
actually create enormous value for their
employers. A catalyst that unlocks value and
rejuvenates the economy.
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Market Information
The US40bn global recruitment industry consists
of Recruitment Agencies (60), Job Boards (e.g.
Monster), Contingency, and Retained search
firms Retained Search at least 5,000 firms
globally, market size US5-8Bn and highly
fragmented. Virtually Zero Barriers to Entry.
AESC Association of Executive Search
Consultants (170 members) is the leading industry
association for retained search firms AESC
Survey 80of over 274 Search Firms say that the
outlook for retained search is positive for 2005
Banking Finance, Technology, and Pharma tops
in growth.
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Challenges Faced

The King Makers? Many Executive Searchers project
the image of Smooth Superiority knowing the
movers and shakers and high professionalism and
ethics But focus groups tell us that many
clients see searchers as arrogant
unprofessional cant be trusted to deliver
Many candidates find us unaccessible or
unhelpful But we exist to find candidates for
companies not jobs for candidates
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Challenges Faced

• Articulating the Value Proposition of Retained
  Search
• Cost-effectiveness vs. other options
• Retained vs. Contingency Search
• A highly structured, robust, time-tested process
• Delivers a slate of candidates for comparative
  evaluation
• Backed by a performance warranty
• And off-limits protection for the organisation

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Boyden Search Methodology
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Challenges Faced

• Enhancing the Value Proposition of Retained
  Search
• Understanding the Clients unstated Need, and
  Culture, and the industry they operate in better
• Setting the right expectations we dont do
  cloning - yet!
• Executing the search flawlessly and repeatedly
• Closing off the search filled/cancelled
  getting feedback
• Industry Specialisation Geographical
  Specialisation
• Raising your own game continuously quality,
  communication, training, ethical practices

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Challenges Faced

• The Candidate
• Accessing the finest talent requires research,
  preparation, and finally, an impeccable
  reputation
• The prima donna syndrome
• Qualifying for this position no re-cycling
  allowed!
• Crawling around in his head what makes him
  tick?
• Negotiations values at work making the offer
  stick.
• Confidentiality the real test of a successful
  search

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Challenges Faced

• The Profession (Industry?)
• A highly fragmented profession, often personality
  led, that could see some consolidation
• Poised for explosive growth but unprepared
• Attracting top-notch talent is a challenge
• Certified Search Consultant dream or reality?
• Executive search is easy to do but is very hard
  to do it well

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Opportunities for Search

• To locate, qualify and attract the finest Human
  Capital to clients that lack the ability to do it
  themselves.
• Indian family-controlled, and professional
  businesses
• Small to mid-cap MNCs
• Indian companies expanding globally
• Expanding Indian economy Offshoring,
  Manufacturing, Pharma, IT, Non-Profit
  opportunities are global!
• Other Products Interim Management, Management
  Assessment, Board Level Searches, emerging in
  India
• Evolving into an industry from a profession
  certification

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Thank you for your time
Bangalore, Mumbai, Pune and over 65 cities
worldwide!
Dinesh Mirchandani Boyden global executive
search 2nd flr Phoenix House A Wing, 462
Senapati Bapat Road, Mumbai 400013, India. Ph
91-22-5660-SRCH (5660-7724) Fax
91-22-5660-7731 search_at_boydenindia.com www.boyden.
com