Executive search is a highly competitive market. In the past the people within a firm were the only differentiator, but now technology that taps in to the expertise of these people can create a strong competitive advantage. Invenias is a leading provider of software solutions to the executive search and strategic recruitment sector. David Grundy, CEO and Co-Founder, has direct experience of working in executive search. Richard Harrison, CPO and Co-Founder, also has many years of working in executive search. They discuss the benefits of embracing sophisticated software for search firms...

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The Differentiator

The nature of the software used is key, and an important competitive differentiator. Search firms are looking for more than simply a cloud-based solution. They want smarter, faster technology. They want it to record multiple inputs from an unmatched number of perspectives, collected in one accessible place, thereby providing far deeper insights into a candidate.

Invenias has taken a revolutionary step in making this happen. Firms using Invenias have immediate access to data previously only available in ‘end of week’ reports. With Invenias they can now tap into up-to-date data, at any time, at the click of a button or swipe of a smart screen. This enables real-time interaction and involvement from the client’s perspective and the whole process can be monitored at a greater level than before. Consequently, this gives access to interesting candidates far quicker. In a market where the best talent can surface and disappear quickly, they can identify a potential candidate at an earlier stage. This provides a unique balance between speed and judgement.

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Sharing Insights

From a deeper digital perspective, sharing has never been more imperative. In a world dominated by social media, sharing is just one element that is absolutely expected. That’s what sophisticated software should enable. In Invenias, for example, information is captured, shared and reused, even months later. Whereas insights on individuals would have historically vanished into the ether, they are now collected, in a shared environment, in the user’s natural habitat of Outlook.

Capturing feedback that would once have been lost or unrecorded takes the search for talent to new depths. Information is intuitively gathered from every source, client and consultant that has dealt with a candidate. The information is recorded in a single file that can be viewed by consultants at any time, from any location in the world. Intelligent technology is clearly making executive search truly global, whether consultants are office based in London and Singapore, or keeping on top of things while on holiday via mobile technology.

This mobility is part of a bigger picture. People are no longer discussing ‘going mobile’, they have already gone mobile. So having mobile technology is not enough. Having sophisticated technology is not enough. The two must work intuitively together, fast.

Leaving feedback should be easy and effortless so that when a consultant, or a client, finishes an interview and wants to record their views quickly, they can. Thus ensuring that if a candidate wasn’t suitable on this occasion, the information is all at hand should they be part of another process at a future point.

This is the level of functionality that differentiates the great from the good. Thoughts and views can be recorded using apps on the iPhone or even an Apple Watch, and if they are too busy to sit and write, consultants can simply use Siri to capture the data while it is still fresh in their minds.

The process becomes seamlessly streamlined and effortless. Endorsements become highly valuable to others. Data can be interpreted and decisions made using trusted feedback from multiple touch-points that are already in the system, saving huge amounts of time. Making judgements is suddenly much easier.

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A Hive-mind

Essentially, what was previously a collection of solo operators becomes a ‘hive-mind’ way of thinking and operating. The effectiveness of working in this environment is far superior to an individual way of working. Each consultant has the ability and opportunity to be connected like never before, sharing information and knowledge within their shared network. The individual solving the problem now has a wider, richer scope of data at their fingertips.

Everyone in the firm benefits from seeing who has previously worked with a client and candidate. And because the process is far quicker and less labour intensive, executive search firms have increased their ability to be more competitive and drive revenue opportunities.

Until relatively recently executive search technology was more of a back office concern, but things are clearly changing. While the search profession will always be about the search professional first, technology is undoubtedly moving to a strategic and enabling role in the growth and success of leading executive search firms.

About Invenias

Invenias is the leading platform trusted by professionals responsible for executive search and strategic hiring globally. Our customers include executive search and strategic recruitment firms, in-house executive recruitment teams, and executive talent organizations within Private Equity firms. Head-quartered in the UK the company employs 65 staff across the US, EMEA and APAC and supports over 1,000 customers around the world. The company was founded in 2005 by David Grundy and Richard Harrison. With backgrounds in technology and strategic hiring they recognized the demand for easy to use software and the opportunity for technology to drive innovation and create value for customers. The company generates $10 million a year in revenues, is profitable, and continues to grow at a rate of 25% per year. The company was acquired by Bullhorn on 24th July 2018.

Invenias