Executive Search-Molecular Diagnostics

We have been retained by one of our long-time clients to help them in a business acquired about two years ago in the field of molecular diagnostics.  The particular technology of this business has very exciting applications for the discovery of pathogens in all sorts of samples, including human and animal, as well as any organic matter.  Not only will this technology lead to rapid progress in the development of "personalized" therapeutic medicines, it will also lead to discovery and identification of new pathogens, such as the H1N1 virus.  So, while the market is largely a clinical one at this point, there is the real possibility that the commercial market for the technology, such as forensics, food manufacturing, and public health and safety, could be just as large or larger.

Our search engagement is for the position of Head of the Global Commercial Business of this unit of our client.  We are seeking executives with experience in gene sequencing companies who have strong marketing and business development backgrounds related to the commercialization of technology.  For details, please visit our website Peter Meder and Company, Inc. to view the position description.

Executive Search-Group Controller

We are conducting an exciting new search engagement for a long-time client, a $6 billion industrial company headquartered in Chicago.  Position is Group Controller for a 6-company industrial sector of our client, headquartered in the southeast US.  This is a terrific opportunity for operations-oriented financial executives to work closely with the individual companies on all aspects of finance and strategy.  Please have a look at the position description at:  http://www.pmedercompany.com/executive-search_3.html.

Asking Friends for Help

Executives seeking new employment often ask me for advice on who they should contact to expand their network or explore opportunities, and I am always pleased to offer suggestions.  It has occurred to me that, in asking their friends and associates for similar assistance, it would help if these executives would follow some guidelines.

• Don’t expect someone else to do your homework for you.  If there are industries, and/or companies and people in which you have interest, identify contacts who are familiar with these and approach them for advice on ideas which you have formulated.

• Be specific and limit your requests for each contact.  Provide the names or titles of a couple of people who you would like to meet, specific to your contact’s network.  Your friends want to help, but you have to tell them how; e.g. “I know you are a member of YPO.  Can you introduce me to two of your favorite co-members?”

• Develop a short version of what you want your contact to say about you and your objectives.  “I am looking for CFO role in mid-size company, or controller/division controller in a large company.  Manufacturing preferable over distribution, and I can relocate.”

• Avoid extended explanations about why you are looking.  Your friends and contacts are not interviewers, nor career counselors, and less is more.  They just want to help, as long as they don’t have to work very hard at it.

• As a follow-up and non-intrusive reminder, email your resume which can be easily forwarded to any suggested leads.

• Finally, if you have a meeting with a referral, let your friend/contact share in your success and provide the results of the meeting.  Common sense, but many people forget.

So, do your homework, be specific, and only expect your friends and associates to do what they can do quickly and without extended effort.

"Reality Bites" Then What?

Many of the executives and managers who I have interviewed (and, who got hired by my clients) have been "let go" "downsized" or "victims of a corporate reduction in force."
They have been young, old and in-between; each gender; and, have worked in big and small companies.   Good news: I can recall only a very few people who have not been in new positions or new careers within a few months.  I have a few thoughts on the why's  and some advice from successful job-seekers.

Admittedly, my sample is biased, as I engage candidates who have been recommended to me, so they have proven themselves in character and in performance.  And, they stay  in touch and maintain positive relationships with colleagues and bosses.  My first piece of advice:   Make sure you are in the biased population; get recommendations, take the high road, and don't go into isolation in some outplacement office.  Executives who are in a new situation more quickly tend to have a few things in common.  They sell their strengths and experiences to buyers who can use them; butchers don't become bakers. 

They also recognize that experience does not equal industry.  Skills are transferable, and many industries are entering phases which others have gone through.  Another quality common to these execs is the realistic assessment of their experience, combined with the disposal of the vague value of "resume risk.". Nothing that a prospective employer enjoys hearing more from an unemployed exec than, "If this doesn't work out, this will seem like a sideways move."

Another positive attribute of great executives is the ability to be flexible and thereby take reasonable risk.  The really good situation with a great company which provides long-term growth, may outweigh a higher, more defined position with a smaller company; the key is to keep one’s mind open while looking at the trade-offs.  Successful executive job-seekers also very clearly recognize the factors, as geography, which may limit their search, and “price” themselves accordingly.  If a move doesn’t work, why waste time looking at relocation opportunities, unless there is a flexible approach that works. 

In any case, my experiences with top executives who are looking at new opportunities has been been very positive, even in recent difficult times, when these executives conduct their job searches in the same way they managed their units or functions.

"OMG! It's time to write the Annual Strategy"

StrategyWe hear the word “strategy” used so much, in company jargon, by consultants,  and by individuals, I started wondering how it is really useful and how individual executives approach building their strategy and communicating it to their colleagues.  I even demand that candidates have well thought-out strategies for the businesses or functions, such as finance or HR, that they run.  So, I started asking the CEO’s and other C-level executives of my clients to help me with this.

One universal response:  “Don’t confuse the annual plan (usually due the day before Thanksgiving when everyone just wants the pain to stop) with strategy.”  A workable strategy is a living, real-time thought process which should drive everyday decision-making.  One leading executive, when asked by a colleague to help craft his strategy, replied, “You know, you already have one; it’s what you’re doing now.  You can measure its effectiveness by your results.”  My take on this is that it’s not about a tedious planning exercise, but rather about recognizing where you really are and where you want to be, both as a business and also as an executive.  What is the target, what do you need to do to get there, and what are the obstacles?  One of the most important keys to answering these questions is developing an accurate set of metrics which reflect the real world.  It can be illusory success to grow 15% if the market grew at 25% and you want to be #1 or #2 in that market.

Another CEO and client has been frustrated by the “passive” nature of his company’s annual strategy exercise, so he went to an interesting place for advice, The Army War College, where he had met a professor of strategy who had guided troops in Iraq and Afghanistan.  The Colonel offered similar advice to the CEO about the need to have a dynamic strategic view, which identifies specific goals and which reflects constantly changing conditions and obstacles in the way of achieving the objective. 

I hope that I can employ these suggestions when I think about conducting my next search engagement more effectively, and I know I’ll press the candidates to describe their strategies with these thoughts in mind.

Opportunistic Hire-A Good Idea?

As the economy continues to improve, companies will look to bring on talent and skills which they had been putting off.  Of course, there is the delayed filling of executive and managerial positions which will now take place, but there will also be the natural inclination to "opportunistically" bring on a great talent who is available as a result of downsizing or "a situation".   This brings up some interesting questions for both the employer (especially smaller and midsize companies) and also the potential employee.  Both parties should carefully think through what could be a win/win deal, lest the bloom comes off the rose in a few months.

A couple of thoughts for the hiring company executives:  Let's assume the candidate is great, passes our hurdles and has necessary references, can we provide opportunities for him/her to perform quickly in a demonstrable and satisfying manner?  Will we have opportunities for promotion by two levels within three years?  If not, why bring in horsepower, disrupt our organization, and push our culture needlessly, not to mention causing an unhappy situation for everybody.  If we don't need a real leader with long-term potential with us, we should contract for the skill sets (I.e. hire consultants) we need.  This is especially the case for those companies which do not have well-established executive development programs.

If you are a potential candidate who is seeking a new opportunity, there are also some important questions to consider.  Perhaps the position responsibilities sound terrific, but how integral is the role to the long term success of the business?  And are there opportunities to demonstrate real performance?  Am I being considered for my leadership skills for the long run, or do they just need my recent experience and contacts; especially true in sales functions?  These considerations do not preclude the fact that this could be a great opportunity, but sometimes, in the haste to bring on a real upgrade in talent, some basics are overlooked.  The most important consideration in an opportunistic hire is to have a good fit between the opportunities in the position and the potential executive’s long-term prospects with the company.

Welcome

Welcome to my blog, and thanks for your friendship and loyalty over the years.  To say the least, the economy the past two years has made life difficult for companies, big and small, and for executives and managers in every function, industry, and level.  But, as you know, quality companies and quality people survive and even prosper.  And, we have gone through these cycles before and come out better for what we have learned--as companies and as executives.  I'd like to share with you in the coming months my observations about the traits of successful executives and their actions to achieve success in both large and also smaller companies.  I would also very much welcome your stories and anecdotes, hopefully some funny, which I could share with readers.  Thanks again, and best wishes for success.