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BREAKING NEWS

UNCG Athletic Director Search Completed by Carrick

LDR Team Completes Design of Executive Assessment Center

Brinkley Completes LMC President and CEO Search

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STRATEGIC SHIFT:
A CASE HISTORY

A $300 million distribution company retained Coleman Lew to transform the business from a traditional sales representative model to a consultative sales model. Over the next seven years, Coleman Lew recruited nearly 40 consultants who strengthened the company’s customer relationships and measurably improved sales and profits. The net result of the shift increased revenues from $300 million to nearly $1 billion and market share from 40 percent to over 60 percent. This division — already the most profitable within the corporation — increased profitability every year following the transition. The sales manager was ultimately promoted to division president of another operating division and subsequently enlisted Coleman Lew to manage a redesign of that business. Over the next 10 years, Coleman Lew recruited 70 executives in all functional areas. Seven of those recruits later became division or company presidents and successful business owners.

IN THIS ISSUE

>> Breaking News     >> Why Searches Fail
>> Higher Education Practice     >> Strategic Shift: A Case History

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WHY SEARCHES FAIL

Even organizations that are knowledgeable users of retained search have experienced a “failed” search. While the definition of a failed search can be debated, a few common reasons for these failures include:

>> Inadequate Candidate Pool  Reasons can range from the search firm’s ineffectiveness at finding qualified candidates to the client’s position specifications and search timeline, which may be unrealistic. In the first scenario, the search firm should be able to engage additional resources to achieve the desired results for the client. In the second situation, the client must be willing to recognize and accept the realities of the marketplace and adjust accordingly.

>> Lack of Communication  When the search consultant initially meets with the client to gain an understanding of the client organization and its leadership needs, it is important that open, candid, and clear communication be established. This communication includes listening. Throughout the search, both parties should openly and candidly communicate with each other so that feedback is timely and the possibility of surprises is minimized.

>> Inadequate Interview Skills  If the search consultant provides the appropriate service, clients should have extensive background information on each candidate prior to the interview. At that point, interviewers need to spend their time delving deeper into the candidate’s background, experience, and interests to obtain a better overall picture of the candidate and his/her potential as a leader. Many times however, client interviews turn into more of a selling session than an interview. Additionally, less experienced interviewers may tend to concentrate more on a candidate’s current position and experience rather than the broader, more comprehensive view of leadership ability and potential. Consequently, candidate evaluations may not be as thorough as necessary.

>> Lack of Sense of Urgency  Good candidates are often lost because of the time it takes organizations to move 3 or 4 candidates through the interview sequence. The majority of candidates presented by the search consultant likely are not seeking employment; they are being proactively recruited. A lengthy interview process can cause interest to wane. The search needs to be a priority and taking the time necessary to interview and communicate with candidates can increase the success rate of the search.

>> Focus on Compensation  After an extensive search, interviews, and the selection of a finalist candidate, the search reaches the negotiation and offer stage. At this point, often the candidate and/or client begin to focus only on finances and forget the other reasons that both parties reached this final stage. Many times, this financial focus is centered on a relatively small amount of compensation when one considers the broader picture, including career possibilities, opportunity cost of a continuing search, etc.

This list highlights several of the reasons that searches may fail. A good client / search consultant partnership, with candid communication, can significantly minimize the possibility of a failed search.

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SPOTLIGHT ON: OUR HIGHER EDUCATION PRACTICE

Coleman Lew began its search practice 30 years ago, specializing in the retail and wholesale industries. Although these industries offered diversity through several broad sub-categories, the firm decided to further expand. During the 1990’s, Coleman Lew became a generalist search firm, marketing its services to, and acquiring clients within, industries such as banking, manufacturing, construction, utilities, and non-profit organizations.

Approximately 5 years ago, the firm decided to expand its practice to include higher education. This strategic decision was based upon several factors:

Coleman Lew has provided our clients in higher education with the same level of experience, quality, and hands-on service as that provided to our clients in the business community. We have successfully recruited presidents, vice presidents, deans and directors for both public and private colleges and universities. We look forward to continuing to partner with our higher education clients as they seek to recruit superior executive leadership.

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Coleman Lew & Associates, Inc., founded in 1979 and headquartered in Charlotte, NC,
is a retained national executive search firm that recruits board members, officers, and senior level executives for national and international companies, academic institutions, and non-profit organizations. The firm also provides customized leadership development services to organizations seeking to maximize corporate performance.