Search results

This chapter attempts to reinvigorate scholarly interest in executive scanning by outlining a model to guide future research on executive search within the context of international strategy. Executive scanning has received considerable empirical attention but only limited theoretical attention. Most of this research has studied scanning as the receipt rather than the search for information. Based on the application of learning theory, we outline a model advancing two broad categories of executive search exploitative and explorative, consisting of six specific search behaviors. We advance search as integral to managerial decisions relating to the various aspects of internationalization, notably choice of location, corporate strategy, and mode of entry. The implications for future research are presented.

The purpose of this paper is to explore the ways in which gender is “done” in executive search. The authors uncover how the ideal candidate for top management is defined in and through search practices, and discuss how and why women are excluded in the process.

The study is based on in‐depth interviews with male and female Austrian, Finnish and Swedish executive search consultants. The authors study the ways in which consultants talk about their work, assignments, clients, and candidates, and discern from their talk descriptions of practices where male dominance in top management is reinforced.

The ways in which gender is “done” and women are excluded from top management are similar across socio‐cultural contexts. In different societal conditions and culturally laden forms, search consultants, candidates and clients engage in similar practices that produce a similar outcome. Core practices of executive search constrain consultants in their efforts to introduce female candidates to the process and to increase the number of women in top management.

The study is exploratory in that it paves the way for more refined understandings of the ways in which gender plays a role in professional services in general and in practices of executive search in particular.

Unmasking how gender is woven into the executive search process may provide openings for “doing” gender differently, both for consultants and their clients. It may serve as a catalyst for change in widening the talent pool for top management.

Research on gendered practices in executive search is extremely rare. The study provides new insights into this influential professional practice and its outcomes.

To explore the importance of the board of director nomination process (that is, who nominates a given director for a position on the firm’s board) for the voting outcomes, disciplining of management, and overall monitoring quality of the board of directors.

We exploit a recent regulation passed by the US Securities and Exchange Commission (SEC) requiring disclosure of the board nomination process. In particular, we focus on firms’ use of executive search firms versus allowing internal members (often simply the CEO) to nominate new directors to serve on the board of directors.

We show that companies that use search firms to find board members pay their CEOs significantly higher salaries and significantly higher total compensations. Further, companies with search firm-identified independent directors are significantly less likely to fire their CEOs following negative performance. In addition, companies with search firm-identified independent directors are significantly more likely to engage in mergers and acquisitions (M&A) and see abnormally low returns from this M&A activity. We instrument the endogenous choice of using an executive search through the varying geographic distance of companies to executive search firms. Using this instrumental variable framework, we show search firm-identified independent directors’ negative impact on firm performance, consistent with firm behavior and governance consequences we document.

Given the recent law passage, we are the first to directly analyze the nomination process, and show a surprisingly large predictive effect of seemingly arm’s-length nominations. This has clear implications for thinking carefully through how independence is defined in the director nomination process.

The search for top executives is fraught with pitfalls. Understanding them will set the process off on a strong footing and maximize the chances of a sustainable hire. This chapter examines three aspects of the search dynamic: “stakeout,” “trust-building” and the search consultant’s “ambassador role.” We reveal nine important insights. Has digitization made headhunting any easier? We correct common misconceptions and reveal the difficulty of approaching top executives with role propositions, the building of trusted relationships with clients, and the ambassador role of the executive search consultant. We examine the need for empathy and deep discernment in reading candidates. We next go more deeply into the full search process: the selection of the search firm, the search itself, the presentation of the chosen candidate and onboarding. We reveal points of attention for clients and candidates that underpin best practice.

An earlier form of this chapter by the author was published in Dutch in “Bestemming Boardroom: over zoeken en gevonden worden” (Boom, Amsterdam, 2018).

The size structure of the executive recruitment consultancy industry is similar to that found in other business service industries in that the industry is predominantly comprised of small firms. This paper considers the reasons for small firm size in the industry and looks at the implications this has for expansion into Europe. The size structure of the industry is mainly due to the nature of the outcome, the service provision process and the barriers to growth which are a result of the particular client‐consultant relationship. Increased globalization of markets has led to an increase in the amount of international work carried out by executive recruitment consultancies. The larger international consultancies with branches in most European countries are in a strong position to take advantage of this. For the small consultancies wishing to offer international services, the main method adopted is to enter or establish an international network. © 1997 John Wiley & Sons, Ltd. and European Research Press Ltd.

The author suggests that executive search practitioners would be naïve to believe that the revolution being enacted within their clients’ businesses will not ultimately embrace them. More pointedly, it is argued that supporting the client’s quest to create value for its customer base will, of necessity, be the primary driving force of ongoing competitiveness. Finally, it is suggested that migrating up the value ladder has the effect of devaluing many of the characteristics of perceived differentiation that have been the wellspring of success for those in the search community.

Running an organization in a rapidly changing world is no easy task. Members of supervisory or executive boards must take the interests of all stakeholders into account. From shareholders, employees and suppliers, to customers, and beyond. Yet reaching the boardroom is equivalent to running a Spartan marathon. At a time when complexity is increasing and technological developments are hard to keep up with, the stakes for organizations and candidates are high. In this chapter, we explore the context of executive search: major trends, the profile of the executive search sector and the types of firms that operate in it. We de-mystify the process: the selection, search, presentation and accompaniment of candidates, looking at the responsibilities of the key players and the accompanying performance pressure and stress. Finally, we propose a vision for the future of executive search and potentially re-think about a professional code of conduct.

An earlier form of this chapter by the author was published in Dutch in “Bestemming Boardroom: over zoeken en gevonden worden” (Boom, Amsterdam, 2018) and in English (online) by the Amrop Partnership (2021) as “Destination Boardroom 1: Three Trends Redefining the Executive Talent Domain.”

As the economy re-shapes, so too must the modern organization and its governance. We examine corporate governance codes and their limits in predicting an executive’s performance. We look at the Code of Professional Practice of executive search consultants, the in-built factors that have prevented the sector from becoming a qualified profession, and how to move beyond them. We examine how sustainability is migrating to the heart of modern governance, and present eight reasons to change existing codes and a call for tolerant governance. Mining engineer Henri Fayol is considered the founder of corporate governance. Despite dramatic changes in management during the past 100 years, much of his theory still holds. We take a tour of Fayol’s thinking, how management has evolved, and examine the unstructured shape of things to come: an organic architecture, an emphasis on knowledge capital and an agile leadership culture. We conclude with “change ability” – an evolutionary leap for the chair, CFO, supervisory board and organizations as a whole. The executive search profession finally comes under a harsh spotlight. What’s next for the profession, in light of digitization, its representation on boards, its effect on diversity? And why do executive search firms need to walk the sustainability talk in the way they seek and position leaders?

An earlier form of this chapter by the author was published in Dutch in “Bestemming Boardroom: over zoeken en gevonden worden” (Boom, Amsterdam, 2018).

Managers and executives joining an organisation represent a significant investment, yet few organisations have developed processes that help an executive move successfully into the new role. Why allocating resources to integrating a newly hired executive is imperative is explored, together with key steps in the integration process; and a series of critical questions on which newly hired executives should reflect. Also a comprehensive model of the executive integration process is outlined. The latter covers the three basic stages in the integration: reality testing; building rapport; and defining success, as well as the critical constituencies; boss, team, organ‐isation, and wider community. The author′s experience of working with senior executives, initially as a consultant and currently as Vice President, Management Development, for the Lawson Mardon Group, a billion‐dollar international printing and packaging conglomerate based in Toronto, Canada is also drawn upon.