Destination Boardroom: Secrets of a Discrete Profession – Executive Search Unveiled

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.”

When it comes to discovering the leaders of the future, how can hiring organizations build a more sensitive talent radar to pick up signals of early-stage talent? What do upcoming leaders need to do to appear on that radar? What kind of search strategy is needed to find the exceptional candidate? Based on dozens of interviews with talent development specialists, we present 11 characteristics that emerge as keys to success. We present a case that illustrates why executive search is high stakes-game of responsible positions, and examine why talent alone is no guarantee of success.

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 2: The Talent Radar.”

Many in the private and public sectors see headhunting as a “necessary evil.” A tour of investors, business schools, executive and supervisory board directors throws up unflattering descriptions. Accusations of “opacity” are probably linked to the industry’s duty of discretion. Other observers signal a need for improvement: “pumping the same names around,” “emphasis on reputation, not merit,” “lack of quality” and “low innovation.” The battle to professionalize is underway. We look at the avenues ahead for executive hiring, the demise of the “old boys’ network” and the need for diversity and sustainability in modern organizations. We present the difficulties of running a headhunting firm, and distinguishing factors of the best players. We argue that selecting a headhunter demands the same rigor as choosing a lawyer, and six areas of improvement for executive search firms. Unpacking the Spartan marathon to the boardroom, we reveal the surprising estimates of the number of new high potentials entering the market annually. We conclude by looking at possible blind spots on both sides of the hiring equation that can undermine company interests, and continue to examine the march to professionalize the executive search industry.

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 3: Mapping the Executive Search World.”

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).

For a successful search, all members of the client–headhunter–candidate trio need to step up to the plate. How can clients better prepare for and engage in the search process? What are the current limits of client engagement and their rights vis-á-vis the headhunter? We explain why headhunting is different from recruitment, and why procuring executive search is as serious as other assets. We reveal the depth of questioning and bias management that it takes to reveal and attract the right candidate. We propose five points to build into the profile of the leader of the future. We next take a look at the clients of executive search firms – who come in all shapes and sizes. Van Eijck distinguishes four groups: multinationals, family businesses, private equity firms and public institutions. A tour signals points of attention for each group regarding a search process and some key points that apply across the spectrum – for example, how wildcard candidates can compromise a search process, the persistent problem of “no pay no cure” and why an appointment doesn’t always guarantee success. Finally, we move to the world of the executive candidate. Many make errors (also of judgment) when building their CVs. A seasoned headhunter can easily spot these. We present the keys to forging a robust story, working effectively with an executive search consultant and conclude with the features of the modern educational and work environment that can get in the way of a career.

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

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).