Business organizations are now coming to terms on how the COVID-19 pandemic has become the greatest catalyst of workplace transformations of our lifetime.
In retrospect, what many business organizations did not envision was the extent to which employees would be working remotely from homes, and scrambling across back-to-back virtual meetings, while juggling the competing demands of home schooling. This evolution of work-life and the workforce has consequently impacted how HR professionals manage recruitment and talent acquisition. One of the more pronounced effects has been the increasing reliance on digital recruitment/search platforms (such as LinkedIn, JazzHR, Workable, Zoho Recruit, etc.) to source for viable candidates as fear of physical interactions through face-to face engagement peaks.
Is this true or just a perceived mental model in the post-COVID world? To answer this question, one needs to start with the endgame in mind. It is undeniable that the advent of technology will transform the way recruiters conduct searches on the way forward.
Artificial intelligence has been proven to be a capability multiplier in many aspects of work transformation. As a case in point, technology has made job search a little easier to publish and search for employee resumes, facilitating virtual interviews online, breaking down geographical separation, and allowing HR professionals to cast their net wider. However, before one is led to believe that technology can replace the “man-in-the-loop” in talent acquisition, it is important to appreciate the limits of the current state of technology and the nuances of executive retained search.
The search for C-suite level and senior executives is fundamentally a people-centric process; something that search platforms alone cannot adequately fill. Correct job fit is not based merely on CVs and past work experience alone. There are tacit work characteristics such as personality match, cultural fit, team dynamics and personal aspiration alignment. To find that best candidate, current technology (even with AI and data science) cannot adequately address those information gaps.
In essence, retained Executive Search services involve a meticulous process of human interaction that taps on the deep expertise of professional interviewers, whose skills and “gut-feel” have been honed over the years.
Securing candidates for top or strategic management roles (CEO, CFO, COO, CMO, GM, board member, etc.) requires the “feel” for the candidate in that specific organization, industry, and market. It is very different from conventional recruitment and requires a human mind that appreciates beyond titles and responsibilities – someone who knows the market and the context in which the respective candidates worked, who can read between the lines, who understands the challenges, opportunities, and trends in the industry.
We pride ourselves in being a market leader in the above methodology of retained search for the following reasons:
We are one of the leading global consulting practices specializing in financial services and digital-age technological hires with 30+ years of experience in solutions for Fortune 500 companies worldwide aimed at retaining, developing, and advancing next generation technological breakthroughs.
We have an impeccable and consistent track record of delivering top talents that have been a perfect fit for advanced technology firms, global IT companies and start-ups. This is possible because of our proven methodology of precise job profiling and multi-level deep investigative search.
We have breadth and depth. We have a team of experts and global networks with extensive market domain knowledge to help our clients secure top revenue generators, product developers, market leaders and investors; talents that are key to securing your next cycle of growth. With experts in every area of people and organizational development worldwide, we can help you envision, design, and build a truly inclusive organization.
Janet Tweed and Richard Khee Loon Foo
The energy transition was born in Germany in the 1980s and is now well known with the word “Energiewende”.
It has now become a global megatrend with the growing necessity to transform energy generation and reduce carbon emissions. In 2015, France implemented the "Energy Transition Law" aimed at developing a new energy model, "Green Growth", and so contributing more effectively to the fight against climate change.
The targets appear clear accelerated by the current situation in Ukraine: Reduce fossil fuels and transform the entire energy systems to a carbon neutral generation with renewable energies and hydrogen.
To achieve the European Climate Deal targets by 2050, France's objectives are to increase the use of renewable energies from 12% to 32% of final consumption, to reduce final energy consumption by 50% and to diversify electricity production, in particular by reducing the share of nuclear power (40% to date). The main efforts will have to focus on housing and transport, which together consume 80% of national energy.
As this example from France shows, this global and progressive transformation will of course affect us all, including with the emergence and development of new professions. Generally speaking, for the past 10 years, global renewable energy employment has been booming:
In the solar sector, employment in France will rise from 18.000 in 2020 to 25.000 in 2028. One reason companies are recruiting so much is because they have to cope with the exponential growth in demand for equipment.
The 250 main players have hiring plans for 2022 and this seems to be only the starting point. That is 40 to 100 jobs to be created per company. In demand are engineers, financial engineers, project managers, IT experts with relevant skills and executives, who are able to lead an energy transition on a large scale.
In France, ENEDIS, the EDF subsidiary, is seeking to recruit 2,000 people, has set up recruitment hubs in many French cities in order to attract talent directly on the ground. But also the large Oil companies such as BP, Shell, Exxon and Total, and in Germany RWE and E.ON are desperately seeking a talented executive workforce to orchestrate this energy transition.
From the point of view of the economy this is critical as there is clearly competition for the best talents and companies tend to search for employees with a ready to start skillset. As a consequence companies are trying to hunt for talent from their competitors. An increase of salary level is to be expected as companies tend to pay retention bonuses to avoid “bloodletting” of their competencies. Experience from our own international executive research shows that currently the willingness to change jobs has focused on expert levels but also executive levels have significantly decreased.
Not only from the perspective of the EU economy, but it makes sense elsewhere to attract excellent talent from other industries which are also in transformation but with less future certainty, such as automotive industry.
Bearing this in mind it makes sense for the energy, engineering and manufacturing sectors to put effort into reducing their carbon footprint and to elicit support from a trusted international Executive Search partner - one who has an in depth knowledge of the market and relevant industry networks.
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Members are given the opportunity to share an important moment or dilemma in their professional / managerial lives.
The first such conversation was undertaken by Zoltán who discussed why he decided to put himself forward for the international position of Chair of Friisberg earlier this year.
"It took immense courage actually to decide to run. I have been a member of Friisberg's Executive Committee for a number of years in an international Business Development role and so I understood how the different global markets operated, the way the local offices were run and of course I knew my colleagues well. Even so, to take on this role was a big decision. I knew it would take time, a great deal of personal commitment and of course I am still extremely busy in my own local market of Hungary!"
The Friisberg Partners overwhelmingly voted for Zoltán in July 1, 2021,
"It was a huge honour to be elected and I am committed to growing Friisberg, to strengthening our presence across international markets and to providing all our clients with unrivalled service."
We have all encountered a similar situation that required us to step out of our normal world and to push our borders further. Zoltán's success is instructive for many of us.
The onlyCEO Club is a unique community of business leaders – a meeting place for key leaders from various industries.
This International Women's Day we would like to celebrate the talented and determined women of Friisberg.
This year’s theme is #breakthebias which encourages us all to strive for a gender equal world.
We are proud that Friisberg & Partners International has been a long term champion of equality achieving 50-50 representation and ensuring women are fairly represented at all levels of the business.
It is a business-imperative and something that is increasingly seen as a differentiator in client relationships.
To attract and retain top female talent, we need approachable role models. Current and future talent demand it and, if it’s not authentically experienced in the workplace, that talent will vote with their feet and businesses will simply fail.
International Women's Day gives us a chance to focus on gender balance - the magic ingredient to make a team great to work in, and great to work with.
The Metaverse is a virtual world, one to which we will connect using a range of devices to make us think that we are really inside it - interacting with all its elements. It will be like actually teleporting to a whole new world through virtual reality glasses and other accessories.
We have experienced them for decades in the videogames' industry, where by creating a character you can live adventures through your computer. However, the metaverse is not looking to be just a fantasy world, but perhaps now a kind of an alternative reality in which we can do the same things we do everyday, but without leaving our room.
Facebook and other companies are betting on the creation of a parallel, but completely virtual, universe, accessed via virtual and augmented reality devices, so we can interact with each other 'realistically'.
The key to this metaverse is that we can be fully immersive in it - or at least much more than the current and rather basic virtual reality that exists today. We might initially need to use glasses similar to those currently available, but additionally we will use sensors to capture our physical movements enabling our 'avatar' to have a fully immersive experience.
Devices to enable interpretation of facial expressions will mean that our avatar in the metaverse can recreate us, and other people with whom we are interacting can understand how we feel. Body language will be imperative for these virtual interactions to feel 'real'.
We will continue to analyse how can we can utilise new technologies in our everyday professional lives - might we soon be able to evaluate candidate competencies through their behaviour in the metaverse?
Javier Uruburu
Partner, Spain
It represents a practical assignment where differences in experience and personality emerge clearly. The case also provides an objectivised basis for comparing and ranking candidate presentations.
We see, even with experienced executives, that proposed solutions vary sharply in terms of the ability to shed light on the specific case, to prioritise core issues, and to apply their own experience and expertise.
In their initial meeting with the client, the candidates learn about the business, its strategies and the people involved.
The client learns about each candidate’s experience, motivation and ambitions. In this round, three-four candidates normally stand out with a relevant background, good motivation for changing jobs, personal ambitions and potential cultural fit.
In the next round, we want to develop the dialogue further. We will become better informed about how candidates approach relevant company issues. Together with the client, we therefore develop a case which gives all the candidates the same starting point for the next meeting.
The case will reflect commercial issues at the client and is formulated in a sufficiently open way that the candidates can be invited to make their own assumptions, delineate and prioritise
Candidates receive the case two days before the meeting in order to see how they apply their knowledge and experience rather than how much time they are able to devote to preparations
Candidates are free to choose the form of their presentation
The candidate will use 20 minutes to present their solution, followed by 40 minutes of questions, elaboration and discussion.
Benedikte Stiff / Hild Kinder
Partners Oslo
In nearly every conversation we’ve had recently with executives across industries, we keep hearing that great people are harder to find and it’s increasingly difficult to convince them to make a move.
Many companies realise they would benefit from the knowhow, experience and connections of an Executive Search firm, but often have misconceptions about the way we work.
When talking with a prospective client, we are often asked whether we would consider a contingency search model without exclusivity. Sometimes it is because a client has not experienced retained search before and on the surface the main difference appears to be simply an issue of how the fee is paid.
But that difference drives a completely different approach to assignments and it often necessitates an explanation.
While we believe there are merits of both, a clear understanding of the differences is critical to making the right decision for a specific search.
At first consideration, the non-exclusive contingency model may seem better for the client - there is no perceived risk because there is no upfront payment and engaging more firms casts a wider net to elicit faster and better results? This thinking, while common, actually works against the clients’ interests, it will seldom ensure access to the best talent and can create damage in many ways.
It is important to realise that the contingency model makes the provider to work with a large number of positions at the same time and to focus on the roles that are most likely to be filled quickly. Though high speed can be a good thing, quality and service will be compromised and the client will get CVs of the most easy to reach candidates who are currently available, yet not always the best for the role. A contingent search means that when the recruiters get bored, frustrated or tired, they can quit, there is no commitment from any side.
While contingency firms would ideally like to create a positive candidate experience, the focus will be on the transaction - just getting a number of suitable resumes in the door first. But because the best candidates are generally passive, busy, usually just casually looking at online opportunities (if at all), they will seldom respond and apply, except those actively searching for a job and that is only about 5% of all potentials.
To get the attention of passive candidates, a search requires careful engagement strategies and personalised presentation of the company and opportunity, therefore many great candidates will be missed because the contingency search is under pressure to present candidates quickly. These are the experiences that often give the recruitment professionals a poor reputation and the unfortunate negative perception among candidates.
One big recruitment myth is that recruiters will work harder when they have to compete with other search firms. That never guarantees success, it actually creates chaos in communication among all parties, high activity at the beginning of the assignment and a rush to make a referral before anyone else.
There is lack of research, assessment, commitment and guarantees from the non-exclusive contingent search.
If exclusivity for one firm is not agreed, candidates will be approached by several recruiters for the same position. This may completely put off many passive candidates because it is perceived negatively, it diminishes the importance of the position and candidates may be concerned about confidentiality.
What works best for attracting the senior candidates is a committed partnership where there is an accountability to find the right fit – something that definitely benefits the client.
In today’s candidate-driven market, it is extremely important to tune into what candidates are looking for in their next roles. Lockdowns gave people time to reflect, they look for purpose, work-life balance and are extremely careful about confidentiality.
The candidate experience should be a priority for a retained firm.
The assurance of importance, exclusivity and confidentiality will elevate the client brand and can persuade candidates to open up and consider opportunities at times they would not be actively looking. Most experienced leaders recognise that executive search professionals can be very valuable advisors and are honest and open with them in ways they can not be directly with an employer. This is also helpful in managing future career expectations, negotiating salary and contract terms.
If you want to ensure you get the very best talent, and not just an immediately available hire for the key positions, exclusive retained search is the best choice.
Retained search is better for everyone involved: the client, the candidate, as well as the search firm.
Andrea Chládková
Partner, Prague
In the US, retailers will reap $20 billion in sales by the time the holiday is over and in the UK £1.37 billion.
Valentines Day however dates back to the Roman pagan festival of Lupercalia when people would honour the gods of agriculture and fertility. During Lupercalia women were whipped and animals were sacrificed - thankfully the event has evolved somewhat!
We spoke with our Friisberg people around the world and it seems they all have their own traditions to celebrate love.
The Feast of San Dionisio is celebrated on 9th October in Valencia. Much like Valentine’s Day (which is also celebrated in Spain as El día de San Valentín), the Feast of San Dionisio is a celebration of love and romance in the name of the patron saint of lovers and has been observed since around the 18th century. Gifting scarves full of marzipan is a sweet custom (Mocaorà) Women who receive this gift should keep all of their scarves to show how long the couple has been together.
The tradition of Gaekkebrev - the sending of a humorous love poem - is still very much alive in Denmark and Norway. They are written on hand-decorated cards or letters that resemble paper snowflakes and are sent anonymously. If the recipient of the poem can guess who sent it, then the sender must buy them with a chocolate egg for Easter. If, however, the sender remains undiscovered, then the recipient must buy a gift for them when their identity is revealed!
In Norway, rather than roses, friends and sweethearts exchange pressed white flowers - Snowdrops.
It's been said that the first Valentine's Day card originated in France when Charles, Duke of Orleans, sent love letters to his wife while imprisoned in the Tower of London in 1415.
Today, Italians celebrate Valentine's Day with gifts and romantic dinners. One of the most popular Valentine's Day gifts in Italy is Baci Perugina, which are small, chocolate-covered hazelnuts wrapped with a romantic quote printed in four languages.
Finland and Estonia opt for a friendlier celebration called Ystävän Päivä in Finnish and Sõbrapäev in Estonian instead. Here, February 14 is all about celebrating friendship, and people exchange presents and cards with the greeting ‘Happy Friends Day’.
Since 2016, Friisberg & Partners International has been represented by Qualia Executive Search in Romania, a well-known executive search company on the local market.
After 6 years, Floriana Enescu, the Managing Director of Qualia Executive Search, has formed a new company, Friisberg & Partners International, Romania, and to end her collaboration with Qualia Executive Search. She said,
“I am grateful for all the experiences I had at Qualia Executive Search in the last 17 years. It meant a lot for my personal and professional growth, and for that I deeply thank my clients and my colleagues, especially to my colleague & co-founder, Ionut Balintoni, from whom I learned so many things that brought me to what I am today.
"Sometimes, after so many years, it is better for friends & partners to follow different paths. I am sure that Ionut will lead Qualia Executive Search to continue to offer the best services to its clients and partners, in the most ethical way.
"I started this new journey with a lot of enthusiasm and I thank my Friisberg & Partners colleagues for all their support. The world around us is changing and it embodies our deep dedication to client success and relationships, wherever our clients do business. Friisberg has a determination to never stop leading the way in innovation and thought leadership, so recognising that we were already so well aligned philosophically with Friisberg, we are genuinely delighted to now be Friisberg Romania.”
Zoltan Petho, Chair of Friisberg & Partners International, welcomed the opening of the new office. “Despite a global pandemic and economic crisis, Friisberg remains focused on its strategy to expand and innovate to connect clients to talent, internationally. We have made it our purpose to grow with our clients, as individuals and as a team, and Romania further strengthens our already significant presence in Central & Eastern Europe.”
Floriana Enescu is a psychologist with 20 years’ experience in recruiting and Executive Search.
Over the last 17 years, Floriana has coordinated searches for clients such as: Heineken, Beiersdorf, Allianz Partners, Phillip Morris, Danone, BNP Paribas Real Estate, Lagardere Group, Carrefour, Ikea, CB Richard Ellis, Hipp International, Coldwell Banker, Marks & Spancer, PayU, Signal Iduna, Tractebel, Siemens, Cushman & Wakefield, Vastint, Bionorica, Syngenta, Interbrands Orbico, Pinebridge, and Delamode.
Having strong and quality leadership has proved to be a major asset in recent turbulent times. It is not a secret that companies who invest in leadership development perform better than those that do not and they are much more adaptable in periods of crisis.
Quality leadership is a combination of skills, traits, attitudes, and mindset - things not typically innate and therefore necessitating fine tuning.
One of the indicators of how valuable quality leadership is to an organization is the time the company invests in training and development for their leaders. The observations on the local market show that those companies who do invest usually dedicate between 12 and 30 minutes per month - in medium-sized businesses, and about 5 hours per month in larger organizations. The approaches vary from short online chunk sessions, through specialized development programs and individual coaching. The predominant focus is on first-line managers and aspiring leaders and much less on top executives.
Typically, outcomes are based on improved relationship between manager and direct reports. Much research though, indicates that more beneficial impact is on organizational outcomes. That’s why all leadership deserves to be developed. Every level of management in the organization needs to build, master, and nurture the relevant leadership skills in order to be prepared, resilient and alert.
A wide-ranging leadership and management development program includes offerings for all levels of leaders: new, middle, and senior.
Although focusing leadership development is always a good idea, there are some typical situations and stages in the life cycle of the company in which it becomes a must:
When a company cares about their leadership, it actually provides the opportunity for leaders to invest their time and energy back into the organization.
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