Vell Executive Search is a retained search firm, building executive teams and boards that deliver success. Our experts take time to understand your business objectives, work with you to determine an ideal candidate profile, and present options for adding to your leadership team or building a brand-new team.
Outline of the Vell Board Search Process
Ongoing Weekly Status Calls with Client & Daily Vell Internal Status Updates
Board Search Process Overview – Description of Phases
Organizational Consulting & Stakeholder interviews / Onsite Visit
Before an assignment is undertaken, we develop a thorough working knowledge of the client's position in the industry, including its markets and competition. In consultation with the client, we gain an understanding of the organization and the necessary skills and requirements of the target position. Our experience with previous assignments enables us to assist in assessing the demands, qualifications and expectations of the position in light of the realities of the marketplace.
Search Strategy Discussion/ Exec. Profile Development
We generate a thorough list of options for industries and sources for discussion and clarification as to the types of companies the individual will come from. In addition, we present sample candidate profiles for discussion and client comment on the Board Profile. These exploratory discussions are meant to be broader to generate discussion and additional options. It is also meant to further clarify the core competencies the successful board placement needs to have.
Position Specification, Scorecard and Core Competencies
The requirements of the position and the qualifications of the ideal candidate are synthesized into a detailed written specification, prepared to demonstrate our understanding of the position. Once approved by the client, the specification is used to convey the nuances of the position to Vell Executive Search’ professional staff as well as to prospective candidates. A scorecard, outlining core competencies is also generated, outlining the essential elements in the ideal candidate’s experience and background.
Strategic Market Identification
Our consultants work closely with the client and research team to develop a search strategy. Key components of this process are:
- identification of prospects and sources located in our database
- development of a list of target companies and trade associations from which we will identify key prospects and sources
- identification from various sources and databases, including investor databases
- direct sourcing of executives and board members in the Vell network.
In short, we use a broad range of internal and external tools, along with a high degree of creativity, to develop a strategy directed at solving our client’s recruiting opportunity.
Research Phase – Prospect Identification
A list of prospects and sources is developed through our research effort. Vell compiles first list of potential candidates for review with client. We also use our extensive network of industry sources as a key factor in our successful identification of qualified candidates. We review the research in detail and get to an approved long list before making any contact with prospects. With client input, Vell deletes or adds board candidates to finalize the long list.
Recruit Top Prospects and Vell Meets Top Candidates
Upon completion of the candidate identification stage, a long list of candidates is presented to the Company prior to any calls being made. The consultants contact the priority candidates. Personal interviews are conducted by the consultants performing the search.
Candidate Evaluation & Client Meetings
We provide written profiles of the candidates who are identified as appropriate for the client's needs. These reports, present confidential information about the candidate's current job, career experience, accomplishments and personal background. Interviews are then scheduled between the client and candidates.
When the client and the final candidate express a strong interest in working together, we contact individuals qualified to comment in depth and in confidence about the candidate. We compile a report detailing all comments made by each reference, and review it with the client.
Presentation of an Offer
We work with our client to structure a compensation package calculated to attract the finalist. In most instances, we serve as an intermediary to resolve differences or details to complete an assignment to everyone's satisfaction.
Although the recruiting process is complete when an offer is accepted, we stay in touch with the client and the placement to provide assistance, if necessary, for approximately 12 months.
Board Search Timeline
The following is a typical search schedule which can be tailored to fit each search's level of urgency. Throughout the search, we will be in contact with you on approximately a weekly basis.
The Client’s Role
Our clients have a very important role in the recruitment process. Vell Executive Search consultants are not a substitute for your organization. While we may identify and recommend qualified candidates, it is the client who must make the decision as to whom to hire. There are several additional responsibilities which the Search Committee should undertake to ensure that the best candidates are made available.
- Informing us clearly about matters relevant to the search that you wish to keep confidential
- Active participation at the weekly status calls
- Providing timely feedback to your search team regarding the information and recommendations provided to you by Vell Executive Search
- Sharing information with Vell Executive Search regarding candidates you may have identified from other sources so that they may be evaluated as part of this search
- Scheduling interviews promptly with promising candidates and reporting your findings to Vell Executive Search as soon as possible after the interviews
- Assist in providing the appropriate information to candidates that will enable them to make their decision.
In doing the above, we will have mutually worked to ensure the success of this critical search assignment.