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As EMA Partners celebrates 21 year in executive search, the Search-Consult magazine ( www.search-consult.com) spoke to its ex-Chairman and Partner in Chicago office, Mr. William J. Yacullo to discuss the executive search group’s development while, simultaneously, providing you with some tips on how to prepare your company and staff to move forward. SC: How has EMA Partners developed within these past 2 decades and what is the reason you perceive this organization to have remained so successful after such a long period in time?
Bill Yacullo: In 1988, two executive search groups – one US-based and the other UK-based – agreed to work together to better serve their international clients. This was the genesis and objective in forming EMA Partners International. At the time, there were ten partner firms, most of which knew each other personally and had previously interacted professionally. Today there are 50 offices on 6 continents.
We know our success depends on our client’s success; which is why we focus on achieving lasting results for our clients. We also focus on giving a closely knit network of partners, who are “the eyes and ears” of our executive search group as well as of our clients, having access to every major market and business center in the world.
What has been fundamental in this process is having developed a strong bond among our partner firms that comes from frequent interaction, communication and assisting annual global and regional meetings where we can personally discuss our clients’ needs as well as how the organization is progressing.
SC: What are EMA Partners core values and key strengths?
Bill Yacullo: Our key strengths continue to be serving our clients’ needs and our ability to put together seamless global teams. We provide our clients with personalized solutions and support them during these difficult times. We appoint a project manager to effectively communicate with the client and manage the various searches that are being conducted with the different partner offices for that client. We also invite client presentations to our meetings as a means of reinforcing our credo: “Clients come first”.
The core values that were in effect at the beginning have not changed, except for the fact that our reach has expanded into areas that, twenty one years ago, were not considered strong executive search markets; areas such as Asia-Pacific and Eastern Europe.
In the past decade, many of our search assignments have taken on more of an international flavor and joint ventures between partners have been more prevalent. However, we cannot underestimate the expertise and professionalism of each of our individual partners, which has become more important as we continue to conduct cross border searches, remaining true to our belief: global reach – local expertise. EMA Partners understands that every search undertaken by us becomes a unique and strategic partnership. In fact, it has always been a policy of ours to not consider a search successful just because the individual accepts the offer, but to constantly check-in with both the successful candidate and the hiring managers to see how the individual is adapting to the organization. This is critical as we strongly believe that the staying power of candidates really is an indication of how well we handle the search process, managing both our clients’ and candidates expectations. This is crucial, especially as searches become more complex and more international.
SC: Have your clients demands changed in the last 20 years?
Bill Yacullo: Our clients’ demands have definitely changed. While they still are looking for the best fit, their demands for the broader-based, internationally experienced, general management have become more critical. It is important for senior managers to have experience and competence in dealing with a globally-based organization and to understand certain differences that exist within cultures. We assess these criteria by probing the candidates in our interviews and reference checking.
SC: How has the candidate profile changed, especially during this economic downturn?
Bill Yacullo: Our candidate profile has also changed. Clients are looking for talent that not only has strong technical skills, but also has the ability to manage an organization through difficult times and the experience to withstand some of the pressures that the business community is currently facing.
Candidates should have international experience as well as, in many cases, experience in multiple industries. Candidates that have successful experiences in a variety of settings (ie. countries, industries and organizations) are sought after. Candidates that have experience in reporting to management operating in another country are also increasingly in demand.
SC: During these economic challenging times, what tips can you provide your clients and candidates to move forward?
Bill Yacullo: We have kept in strong contact with our clients, understanding that they may not have present needs. At a time like this, it is a good idea to review your management team and determine if you have the right people in the right places. As a service to our clients, we have offered to assess their management teams as we are pleased that several clients have taken us up on this, accepting our expertise and resources to help them to move forward.
Although candidates are more hesitant to move jobs, I think it is a good time for experienced, competent managers to look at new challenges and consider new opportunities, especially if you have experience in turnarounds.
SC: What do you perceive to be some of EMA Partners’ key challenges? How do you deal with them?
Bill Yacullo: EMA Partners will continue to grow and enhance its reputation for excellent client service. But, it will not be without challenges. The Chinese and Japanese markets have always been a challenge for us. We need to continually work to find the right partners who see the value of being part of a strong international search organization.
We are also concerned about the professional development of our current partners. Any help that we can give each other to shore up our individual firms in these difficult times is important. This involves constant communication and consulting, as well as identifying business opportunities that can benefit more than one firm.
While we are a strong international network of fifty offices, we are all individually owned, so the strength and competence of each office is critical. This is our greatest asset and simultaneously, our greatest challenge. I have been in the search business for almost three decades, and this is the fourth major economic downturn we have experienced. We survived the other three, and we will survive this one as well.
Another key challenge is finding good people for our individual firms. There are consultants on the market now, but we will have to be cautious to not add individuals who may not be a good fit. We all have to look to succession planning for our individual firms, as well as leadership for EMA Partners International in general.
SC: With the economic downturn affecting virtually every economy, what and where do you perceive EMA’s opportunities to be?
Bill Yacullo: With this economic downturn, we are looking for new markets. These might be in the not-for-profit industry, the academic and higher education sector, or in government. We also see that in the financial services industry, while definitely in a down-cycle, there are opportunities.
We must seek our opportunities by constantly talking with our clients and monitoring the industry. We talked earlier about the assessment of individual managers within organizations, and I think that is certainly a way we can help our clients and continually monitor their growth and future plans.
SC: How does EMA prepare to deal with these? How do you make sure your consultants have the same vision, training and its best practices with clients and candidates?
Bill Yacullo: We are only as good as our individual consultants, and in the search industry, clients generally hire a consultant, not necessarily firms. So, we have to make sure that our individual consultants understand not only the importance of a global firm, but also that individual and firm added value expertise is the most important thing we bring to clients. This is particularly evident as firms in the emerging search markets join us.
Professional development programs are always a part of our global and regional meetings. We have established a mentoring program for the several new firms that have joined us (four within the past year). We assign an experienced search consultant to work with them and help them through their growing stages, all the more critical because of the economy. This mentoring process that we put in place is fundamental to the success of our organization and, of course, our clients.
In short, we will continue to grow, individually as well as an organization, strategically partnering with our clients to provide them with effective and lasting results, listening to their needs and anticipating where they need us to be.
AE 3830
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