May 14, 2019 – Global search firm H.I. Executive Consulting (HIEC) has formed a strategic partnership with Teamscope, an AI-driven talent analytics platform designed to help companies build high-performing leadership teams.
The partnership gives HIEC an innovative tool to deliver more data-driven hiring results for its corporate and private equity clients, informing the way companies identify the right leaders, reducing unconscious bias in the hiring process, and leading to higher performing organizations, said the search firm.
“Teamscope is one of the most innovative executive assessment products that we have seen on the market,” said Tim Robson, a global managing partner at HIEC. “Its sophisticated data science built into a simple and intuitive digital user interface underpins the art of world-class executive search. Teamscope is exactly what was missing in the market at executive levels and is going to make a significant difference in the selection, onboarding and leadership development process for our clients.”
HIEC’s global experience in executive search has proven that building high-performing leadership teams not only requires identifying the necessary functional skill-sets, but also core values and behavioral traits that complement the team, said the search firm. Over 70 percent of recently appointed C-suite leaders struggle to culturally adapt, if at all, to their new employers, according to McKinsey & Company. Teamscope’s approach to behavioral analytics enables clients to match the executives with the core values of the existing leadership team so they can quickly assimilate and perform at their best.
A Leading Search Firm
Teamscope is backed by notable investors, including Techstars and the co-founders of Skype and Pipedrive, and is powered by IBM Watson. Its algorithm combines big data analytics with scientific testing to understand the values, characteristics and behaviors of the company’s existing leadership team and new hires. The 15-minute questionnaire, designed to fit executives’ busy schedules, visualizes the combined effect of the existing leadership’s characteristics with other executives.
HIEC is a leading global executive search firm focused on hiring board, CEO and senior-level executives globally. The firm focuses on hiring transformational leaders across the sectors it serves – digital and technology, financial services and real estate, industrial and automotive, consumer, retail and leisure, and business and professional services.
Teamscope, based in London, is an AI-driven executive talent analytics platform to enable world-class executive search. The platform is designed to help companies build high-performing leadership teams through evaluating candidates’ fit with the existent executive team in a more objective, data-driven manner.
Big data is rewriting the script for how companies around the world do business. The market for big data and business analytics is expected to grow to $203 billion in the next three years, according to the International Data Corp., a marketplace intelligence provider.
It only makes sense that analytics should become an increasingly vital component of the executive search process. Clients have forever been longing for better, more concrete, evidence about whom they should they hire and why. But analytics also reveals a lot about the hiring process itself and where adjustments must be made to produce the best results, and more.
“I find that executives react well to hard data,” said Ian Ide, managing director and partner at WinterWyman. “It’s tangible and sets the stage for a much better conversation. The data provides evidence and allows the client to draw logical conclusions. If parameters of the search need to be changed, the data arms the stakeholders for conversations they may need to have throughout their organization.”
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Some of the search parameters that may change include compensation level and reporting structure, said Mr. Ide. “In other cases, mapping the candidate pool and gaining an understanding of the availability of local talent at the outset of the search helps us decide whether we conduct the search nationally or locally, as well as understand what industries might be particularly viable,” he added.
Mr. Ide oversees operations and delivery activities for the Waltham, MA-based executive search firm, ensuring that its offerings are effectively meeting client needs. He also works directly with clients in regard to their executive hiring needs.
One area that’s clearly of interest to clients is being able to quantify and analyze positive or negative reactions toward their particular search. To cull such information from the data, said Mr. Ide, it’s important to establish a baseline norm and proceed from there.
“We track how candidates are reacting to a search and how that compares to other searches with similar parameters, companies, etc.,” he explained. “Once we have had enough conversations to have a viable data set, we can provide feedback on a company’s reputation, reaction to the opportunity, target salary and reporting structure, along with common questions that have arisen. By providing clients with this information early in the search process, it allows for adjustments to be made when necessary and possible.”
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; Stephen Sawicki, Managing Editor; and Andrew W. Mitchell, Managing Editor – Hunt Scanlon Media