The Donald Rumsfeld Conundrum of Executive Search Embracing the Unknown with Retained Search

Every search is a hunt indeed!

In the ever-evolving terrain of executive talent acquisition, the statement of controversial former U.S. Secretary of Defense Donald Rumsfeld resonates profoundly:

"There are known knowns; there are things we know we know. We also know there are known unknowns; that is to say, we know there are some things we do not know. But there are also unknown unknowns—the ones we don't know we don't know."

For CHROs and CEOs, this adage encapsulates the inherent challenge of executive search and why a retained search with the right partner is not merely a choice but a strategic imperative.

The Allure and Illusion of Search with a "Vendor" Relationship

In the quest for expediency, contingent search often presents an alluring proposition. The methodology of casting a wide net, engaging multiple vendors in a race to deliver available talent, suggests a marketplace brimming with potential hires. This approach is akin to speed dating in the professional domain—quick, numerous interactions, based on surface-level information, often facilitated by a database and a persuasive pitch. While it may result in an expedient match, it is essentially a sales call in disguise, and the depth of understanding and alignment can be superficial at best.

The Difference a Retained Search approach makes

Enter the world of retained search, where the search partner is not just a vendor but a confidant, advisor, and an extension of the hiring organization. This model flourishes not on the quantity of interactions but the quality of insights and engagements. A retained search partner brings to the table a profound comprehension of the market landscape, not just in terms of available talent but the latent potential of passive candidates who are not actively seeking a change.

Delving Deeper than the Resume

A retained search partner does not judge a book merely by its cover. They delve into the chapters, reading between the lines of a candidate's career narrative. Often, the most fitting candidates are those who do not merely possess the right titles or have been associated with top firms. Retained partners seek out the context—interviewing subordinates, peers, and superiors—to understand how these executives achieve their objectives.

Aligning Motivations and Overcoming Bias

The true art of a retained search consultant lies in identifying and aligning the motivations of the candidate with the strategic needs of the organization. This process often involves breaking stereotypes and biases associated with roles or brands. By doing so, they reveal the hidden gems—the high performers who are not just effective in their roles but are the right cultural and strategic fit for the client's organization.

The Art of Engagement - Candidiate Experience counts!

For a hiring manager, a true partnership with a search firm transcends the transactional. A retained search partner sets the right tone from the outset, approaching potential candidates with a tailored engagement strategy. Unlike a transactional firm, which operates on a "eat what you kill" model, a retained search partner dances in harmony with both the candidate and the client, ensuring that neither party leads too strongly but moves in sync towards a mutually beneficial partnership.

The Retained Search Advantage: Embracing Unknown Unknowns

The "unknown unknowns", as Rumsfeld put it, are the blind spots in our executive search strategy—the high-impact leaders who are not on our radar because we don't even know they should be. A retained search partner, with their in-depth market knowledge, network, and research capabilities, is uniquely positioned to uncover these hidden dimensions. They don't just respond to a brief; they challenge it, expand it, and fill in the gaps with insights only they can provide.

Results That Speak Volumes

The metrics of success in retained search are compelling. With completion rates often exceeding 93% + a high rate of repeat engagements from clients, the value of a retained partnership is undeniable. It is a testament to the efficacy of embracing a comprehensive, insightful, and tailored approach to executive search.

So now, what?

For those in the echelons of CHROs and CEOs, the complexity of finding the right executive talent requires a navigator adept in uncovering the unknown.

Retained search is not just about filling a position; it's about discovering what you don't know you don't know and transforming that into a strategic advantage.

Your search partner should make you aware of your brand perception and often also provide you insights into what is going on in this function, country, or sector.

In an age where the right leadership can define the trajectory of a company, a retained search partner is not a luxury—it is a necessity.

There is no room for error, the consequences of only tapping in the obvious and "known" talent pools are too high. Hiring managers need to go further and deeper these days to be assured and to find the real stars, those that are not normally responding to Linkedin messages and to unsolicited email campaigns!

The cost of not having a true partner on your side of the business is higher than you'd expect. Like in all relationships, the quality counts.

Resonance Asia by Marc Karim Baloch