| Recent and Current Searches |
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GM for a four-star hotel in Shanghai
President for a Theological Seminary
CFO for a senior living company in Florida
VP Resort Operations for a vacation ownership company
CEO for a university in Michigan
CFO for a college in Tennessee
VP Travel Products and Service |
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| Book Reviews |
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 The Traveler’s Gift: Seven Decisions That Determine Personal Success
Andy Andrews, 2002
Reviewed by Tim Bernstein |
For something a little different, I read this book. Though not a leadership or business book per se, its contents had interesting insight and meaning. Written in a quasi, It’s A Wonderful Life genre, The Traveler’s Gift highlights the fictional executive/husband/dad, David Ponder, as he “visits” heroes of the past at pinnacle times in their lives. During these crucial moments in human history, David is allowed to be a keen observer to how these hero-leaders make incredible humankind altering choices.
During his visit back in history, David encounters some of the wisest and bravest people who ever lived. These include, Abraham Lincoln, King Solomon, Anne Frank, Harry Truman, Joshua Chamberlain, Christopher Columbus and others. With each of his stops along different points in time, David picks up one decision (or conviction) that he later uses to help guide his life, professionally and personally. The decisions, each coming from a hero of the past, include:
- The buck stops here.
- I will seek wisdom.
- I am a person of action.
- I have a decided heart.
- Today I will chose to be happy.
- I will greet this day with a forgiving spirit.
- I will persist without exception.
If you want something a bit different, but exceptionally applicable, I would suggest this book. Written in an easy, fictional style, it holds your attention and, though its concepts on the front end may seem simplistic, the nuggets of truth, if taken to heart, can have a deep impact. |
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 Judgment: How Winning Leaders Make Great Calls
Noel Tichy, Warren Bennis 2007
Reviewed by Tim Bernstein |
This is a different sort of leadership book. Many of the leadership books I often review have to do with the leadership intangibles like charisma, intuition, etc. Tichy and Bennis’s book, Judgment, deals with the tangible components that make up good judgment. This book teaches the readers how to identify good judgment in themselves and the leaders they mentor. It includes a practical portion at the end of the book that brings the reader through a step-by-step process of understanding and improving their own judgment.
Whether we’re talking about heads of corporations (Best Buy, GE, Circuit City, HP), political and armed forces leaders, or professional coaches, leaders may go down in history or infamy based on their best and worst judgment calls. In the face of vague, improbable, and incompatible demands, the quality of a leader’s judgment may determine the outcome of the entire process. That’s why judgment, according to Tichy and Bennis, is the core of leadership.
The authors have spent their lives studying and teaching leadership and advising top leaders. In this partnership, they provide a clear structure for making calls when the risks are dangerous and the best direction uncertain. The book illustrates how to recognize the critical moment before a judgment call when swift and decisive action is essential, and how to execute a decision.
Judgment brings the model to life from interviews with leaders who have succeeded or suffered because of their judgment calls. These stories include:
- Jeff Immelt, CEO of General Electric, whose judgment to grow through research and development transformed GE into the world’s premier technology growth company.
- Joel Klein, chancellor of the New York City Department of Education, made tough calls about teachers, students, and parents while turning around a troubled school system.
- Jim McNerney, CEO of Boeing, whose strategic judgment helped him reinvigorate his company and restore a culture of trust and respect.
- Wayne Downing found an unexpected opportunity in the midst of crisis when he led the Special Operations raid to capture Manuel Noriega.
- A.G. Lafley, CEO of Procter & Gamble bet $57 billion to purchase Gillette and reinvent his company.
- Brad Anderson, CEO of Best Buy, made the call to commit totally to a customer-centric strategy and led his people to execute it.
Whether you’re running a small business, educational organization, ministry, or a global corporation, the book will offer an outline for evaluating situations, making the call and correcting during the execution phase. Judgment will show how to lead through the connecting domains of people, strategy and crisis situations. Additionally, it can serve as a framework to help you teach your team to make the best decision consistently. |
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| Our People |
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Bruce Dingman
President
Donna White
Vice President
Tim Bernstein
Associate
Patti Schultz
Office Manager
Connie Schuh
Bookkeeper
Colleen Mattoon
Researcher |
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| Feature
Article |
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| BUSINESS WEEK.com CHOOSES THE TOP 50 MOST INFLUENTIAL HEADHUNTERS |
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On January 31st BusinessWeek.com chose who it views as the most influential retained executive recruiters worldwide. The considerations included the recruiters’ individual reputations, the global scope of their recruiting practice, their accessibility and responsiveness, their years of headhunting experience, their high visibility within their client markets and the recognition they enjoy within the global executive search community.
Much like when the 1992 book, Career Makers (Harper Business), chose Gerry Roche, Tom Neff and Bob Dingman among the top recruiters, this time Gerry Roche and Tom Neff were again chosen, but now Bruce Dingman was also selected.
Also of note: of the 50 recruiters, Bruce is one of just 28 recruiters based in the U.S. We sincerely appreciate the recognition.
Read the Business Week Article
Interactive Table: The 50 Most Influential Headhunters in the World |
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| CURRENT TRENDS IN SEARCH FEES AND PRACTICES |
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Recently a survey of contingency and retained search firms revealed some interesting statistics.
First of all, 2007 looks to be the biggest revenue year ever for search firms, up 17% over 2006, which was a great year itself. Despite the success of web sites like Monster.com and HCareers, never have search firms been used as much as they are now. Filling a senior management position with just the right person has never been more important. When an employer needs the most in-depth matching of exceptional candidates to the position, management style, corporate culture and location, nothing replaces the thorough approach and expertise The Dingman Company brings to bear.
The survey gave statistics for both contingency and retained firms. For an explanation on the differences between the two, go to www.Dingman.com/head_hunting.htm.
For retained search firms, there is evidence of pressure to lower search fees, with fewer charging what used to be the most common amount: 33% of compensation. A lower search fee is often offered to clients by search firms who wish to have a “preferred provider” relationship with a major client. Such fees are now often offered in the range of 25-31%. The Dingman Company charges one-third but with a volume of searches the rate charged to a firm can be reduced to 30% or even 27 ½%...and that has been our practice for over a decade.
Over 55% of the surveyed retained firms averaged a total search fee of $50,000 or more and 27% averaged $75,000+. Not included in the survey but recruiter friends doing high end searches in financial services say some clients have capped searches with very high compensation rates at search fees of $300K and $250K. Most retained search firms have minimum search fees ranging from $70K down to $35K, which means the compensation levels of the positions they accept are usually in the $200K to $100K. In holding the line on charging one-third, last year The Dingman Company decided to include indirect expenses in what is covered in the search fee, and now only charge back to the client the direct expenses (travel related costs, any major advertising, outside research related costs like directories, etc.).
Unemployed people often contact us looking for a position, and if we are not working on a search for which they are a ready fit, which is usually the case, we suggest they use www.BlueSteps.com and www.linkedin.com. These websites are places where candidates place their resumes and recruiters can do a data sort to bring up prospects.
Bruce Dingman |
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| THE ANATOMY OF AN INTERNATIONAL SEARCH: A Case Study in Asia |
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Through a fellow member of Penrhyn, the consortium of 22 search firms to which we belong, we were introduced to a client in China with an unusual request. The client and his family own a business in Shanghai and had very high yet realistic expectations of what he was seeking in a General Manager. He already had used a recruiter in China to seek out candidates and, while the client had considered many, found none having the right people skills, professionalism and values to fit what he was looking for. The reality is that business has grown so incredibly fast in China during the past 15 years that there is a major deficit of real leadership and excellence in experience - much like the high tech industry in the U.S. that grew so fast in the ‘90’s. The demand is high and ever-increasing high compensation offers tempt mangers to succumb to the mercenary route and pay up. Yet, the employers were not finding a higher quality of person for the higher price demanded.
So, rather than accept inferior quality, the client turned to a teamed approach between Shanghai-based Foster Partners (Penrhyn) with offices in five cities in Asia and the Dingman Co. (Penrhyn) in Los Angeles. In July, Ben Coffin, the Shanghai-based recruiter, and Bruce Dingman, who has significant experience in the industry although not in the region, met with the client to learn about the firm, the needs of the position, the corporate culture and values, and why prior General Managers had not been up to the task. Agreement with the client was reached and the search started in August. The search was completed in January and the new General Manager starts in March.
The goal was to search broadly and thoroughly to find candidates with experience of working in Asia (but necessarily in China), with the required high level of experience, excellent management style, cross-cultural aptitude, and high values to fit those of the client and the position.
We searched out the companies where candidates might be, called to get the name and email of the person holding the right position from which a candidate might likely come. 400 people were contacted, spanning 15 countries. Additionally, other avenues were used to also find prospects.
Over fifty people were interested in the position. About 15 people, each holding promise, were asked to respond to a questionnaire and of those, about ten had a telephone interview. Then the top five were interviewed over two different trips that the client made together with Bruce Dingman to Australia, Bali, Taiwan and the Philippines. Those five individuals included a Canadian, a Brit, a Singaporean, a Dutchman, and a Frenchman. Of the five, four proved to have the right experience, management style and values, although one ultimately decided to withdraw.
The next step was for the top two candidates and their wives to come to Shanghai for more interviews with Ben Coffin and the client, visit the company and consider what living in Shanghai as an ex-patriate would mean for the candidate and his family. Both candidates came through the second trip well, and there continued to be interest on both their part and the client’s part. During the whole process, and in preparation of an offer, the client sought and valued the counsel of both recruiters. Then the client hired the candidate he felt was the most appropriate, the candidate accepted the offer, tendered his resignation, and soon he’ll start work in Shanghai.
A most difficult search, with an excellent client and exceptional results, was completed.
Bruce Dingman |
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| PERSONALITY TESTS: Value is Questioned in Executive Selection |
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In the Autumn 2007 issue of Personnel Psychology, an article by five former editors of Personnel Psychology and the Journal of Applied Psychology questioned the validity of using personality testing when making “high stakes” personnel hiring decisions. While research in the early 1990s provided evidence that one’s personality could predict job performance, numerous potential problems are associated with the current operational use of personality testing. Collectively, the editors reviewed 7,000 manuscripts and they found that there is very low validity of personality tests in predicting job performance. They recommended that future research should focus on finding alternatives to self-report personality testing.
Wow. Well, for decades we’ve been saying that structured interviews of candidates, coupled with 360-degree reference testing showing a candidate had been successful and effective in the past, was the best indicator that they would do well in their next job. We believe the personality or motivational testing may be helpful but it can also be relied on too heavily in making a hiring decision. In our assignments, if a client wants to have such testing done we’re fine with that, and none of our candidates have been invalidated by such tests. But that would be in addition to our normal in-depth process.
For anyone wanting to read the full report on personality testing in the search process, let us know and we’ll give you the information on how to get it.
Bruce Dingman
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