Executive Search
A global FinTech software firm leveraged its existing engagement with IQTalent to fill its strategic leadership positions. It needed to build out its engineering leadership and to find a visionary to manage its worldwide talent acquisition needs. The firm’s executive hiring needs were fluid, requiring multiple pivots, but IQTalent’s adaptable executive recruiting model managed the changes efficiently.
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Global
Industry
FinTech
Size
Over 1,000 Employees
IQTalent Hires
Senior Vice President, Global Head of Talent
Length of Engagement
10 months
Services
Executive Search
The Company
This large, privately held company offers a platform for secure communications within the financial industry. Valued at over $1 billion, it provides solutions for easily sharing information among portfolio managers, analysts, share traders, and company leaders, allowing them to collaborate and stay connected in real time.
The Challenge
Extreme growth and changing geography: Founded five years ago, this company doubled its customer base over the last two years. It needed to find a Global Head of Talent as well as an engineering SVP quickly, but because of the nature of a fast-growing startup, the job descriptions were changing throughout the search process. The company needed an executive search partner who could pivot quickly yet still find top talent effectively. Knowing these searches could change significantly throughout the process, the company did not want to partner with a traditional search firm who would charge additional fees each time a substantive change was made to the search.
The IQTalent Solution
The IQTalent on-demand executive search model worked effectively within a fluid and changing search environment. We assigned one of our most experienced executive recruiters and a team of researchers to the engagement. After the search began, the office location for the Global Head of Talent role pivoted from Europe to North America. A change like this one, if using other search firms, would require additional fees as well as a slowdown in the process. Our team was able to adapt quickly without any extra cost and close the search effectively. We found the ideal strategic talent leader in under 7 weeks.
The Senior Vice President search was active for several months, then stopped, restructured and refocused in a different direction with a different function, and restarted again. Because of our billable hours service model, no fees were incurred by the client while the search was reworked. Further, unlike a traditional executive search firm, no additional fees were charged to the client for performing two separate Senior Vice President searches. After the company pivoted in a new direction, our team adapted and closed the new search within two months.
At IQTalent, we pride ourselves on being flexible.
Because we augment our client’s team, we form a genuine partnership and are dedicated to their success. If that means we must make a hundred changes to the search, that’s what we’ll do.
IQTalent Executive Recruiter & Engagement Leader
Cost Analysis
With salaries for these two roles at nearly $300,000 each, plus fees charged for a substantive pivot within a search, a traditional contingency or retained executive search firm would have billed the client $250,000 or more.
With the IQTalent on-demand model, the executive search was adaptable and productive, billing the client less than 25% the cost of a typical search firm. We saved our client $200,000 and provided effective results, in less time, with more value than another firm could attain with the traditional executive search approach.
Savings are exponential when using the IQTalent methodology. Our billable hours model is a fee for time structure. In traditional search firms, as salaries increase, fees increase. For our clients, the greater the salary of an executive, the more valuable our model becomes.
