July 1, 2021 – Organizations everywhere are looking for better ways to recruit and retain good quality people to drive effectiveness, and performance, in their business. Executive search firms are stepping up with an array of leadership assessment services that are starting to make massive strides in the field of predictive analytics. But not all of them have candidate assessment tools to offer clients. That has changed in recent years.
Russell Reynolds Associates and Hogan Assessments, a global provider of personality assessment and leadership development, recently signed a five-year extension to their global, exclusive partnership designed to increase the success rate of executive appointments and accelerate the development of rising leaders. For the past five years, the companies have worked together to produce a multitude of innovative solutions designed to drive C-suite performance, both at the individual and team levels. Together, they have brought to market leading class offerings on topics surrounding leadership, diversity, equity and inclusion as well as environmental, social and governance, and the firms are excited to build on that momentum and innovation moving forward.
“Leaders today face new and unique challenges that require a seemingly ever-changing set of skills for their company’s individual situation,” said Anthony Abbatiello, managing director of leadership and succession at Russell Reynolds Associates. “By working closely with Hogan these past five years, Russell Reynolds Associates has leveraged market-leading assessment instruments and innovative tools to better understand the needs of a specific business and the skills its leaders need for long-term growth. RRA’s partnership with Hogan stands as a special relationship that guides the work we do to improve the way the world is led. We are excited at the possibilities of these next five years.”
The continued partnership combines Russell Reynolds’ expertise in advising senior executives and boards on executive search and succession with Hogan’s suite of assessment instruments, data assets and scientific acumen. The co-branded, custom assessments Russell Reynolds and Hogan have developed have used by enabling executive teams and boards to increase the precision of selection decisions and mitigate the risks associated with senior executive appointments.
“This partnership was originally established because the rate of success for global, corporate executives was shockingly low, and we knew that our combined expertise could dramatically improve that,” said Scott Gregory, CEO of Hogan. “Russell Reynolds Associates is the gold standard in the executive search industry, and Hogan has the most predictive workplace personality assessments in the world. Our exclusive partnership focused on the C-suite has been a great fit for both parties, and we’re thrilled to continue our work with Russell Reynolds Associates.”
3 Ways Assessments Can Go Wrong and How to Get Them Right
With the accelerated pace of change and constant potential for disruption, the costs of getting important leadership decisions wrong – whether for selecting senior leaders, leadership development or succession planning – have never been higher. Despite these risks, many organizations underestimate the importance of a robust assessment process, according to a report by Spencer Stuart.
“The complexity and pace of change in today’s environment requires C-suite leadership teams to act with purpose, vision and speed,” said Clarke Murphy, CEO of Russell Reynolds Associates. “Too often, though, teams at the top are not teams at all. Ineffective C-suite teams create a cascade of confusion for their organizations and are often paralyzed by sudden shifts in their environments.”
Russell Reynolds Associates is a global leadership advisory and search firm. Its 425-plus consultants in 46 offices work with public, private and non-profit organizations across all industries and regions. Ranked by Hunt Scanlon Media as the third largest search firm in the Americas, Russell Reynolds Associates earns annual revenues of more than $436.6 million.
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; and Stephen Sawicki, Managing Editor – Hunt Scanlon Media