What’s the most important search Heidrick & Struggles is working on? Perhaps it’s the one it’s doing for itself, replacing CEO Thomas Friel.
Meanwhile, Heidrick & Struggles was optimistic in a June 12 conference call with Wall Street analysts, reporting record results in Asia Pacific and results in Europe it hasn’t seen since June 2001.
Other notes from the call:
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In Europe, its strategy is “to hire individuals who have the right track [record] of background for the industry or functional gaps the company is looking to fill and who are pan-European in focus and attitude,” according to its own CFO, Eileen Kamerick.
Regarding new recruiters, Chairman and CEO Tom Friel says the company is hiring about one-third from other search firms and about two-thirds who are new to search (either from within the company or from another industry). Friel says that the company has improved its “training and mentoring and integration programs” to shorten the time it takes employees to get productive from two to three years down to 12 to 18 months sometimes. Many top performers at the company are in their first year with the firm.
The only weak Asian country for Heidrick is Japan.
Also on its own hiring plans, Friel says the firm looks for good people, irrespective of industry. “We’re recruiters by nature, so you always tend to be opportunistic — if there is somebody that we find and we think fits our partner profile and that we can make them available, we would likely to do that.” Having said that, he says that Heidrick is particularly focused on hiring recruiters in life sciences, some parts of financial services, oil and gas, and in some parts of the world, consumer and high-end retail experts. Says Friel of the company’s efforts to bolster its own workforce: “We actually we do this for a living and we have some of our best recruiters working for us on recruiting talent for us.”
The CFO practice is particularly strong, according to?Kamerick.
Thomson Financial and Voxant assisted ERE Media in securing the conference call transcript.