The roots of our firm began with a simple supposition — that there should be ways to improve the probability of executive retention during the executive selection process, not just after the hire is made.
Is executive retention a problem one might ask? From our own experiences in search, we felt it was. Educators and consultants alike have taken perhaps a more statistical approach to outlining the problem. A 2001 study of executive failure done by Executive Search Information Exchange pegged the average failure rate for recruited executives in their first year at between 40% and 50%. More recently Michael Watkins,a recognized thought leader in executive leadership and author of The First 90 Days, has revealed from his research that a staggering 58% of new executives hired from the outside fail in their new position within 18 months.
Over the past decade BSG Team Ventures has developed a reputation for innovation in executive recruitment. These innovations focus on the three "core pillars" of the retained search value proposition:
- Search transparency: Search documentation delivered to clients through a set of tools and technologies that allow clients unprecedented insight into a search as it progresses
- Search process: Key improvements in the traditional search process, resulting in a rigorous, structured, and accountable process that guarantees results
- Search assessment methodology: Performance-improving innovation in the way executive candidate evaluation is done, creating a unique assessment process focused on finding and then validating "builder–leaders"— leaders with the skills most critical to fast–growth companies
In an industry not known for innovation, we make it our mission. The result? Continuous improvement in delivering the best executive talent, as quickly, reliably and transparently as possible.