The Challenge
Find existing energy consultants willing to build a group within a services firm. A leading energy services firm wanted to build a global upstream consulting practice and retained Magellan to find the right partners and managers across the globe to build and grow this offering.
The Approach
Internalize the culture
Experience told us to focus on lateral hiring issues ahead of time to create a climate of success within our client before starting the full blown search effort. Also to be able to accurately represent the firm’s culture to candidates, the team spent several days in our client’s offices speaking the leaders charged with growing this practice area.
Develop a compelling career case
Magellan developed a unique career case for candidates to consider that made moving from their existing firm to our client strongly compelling. We spent a significant amount of time building a new compensation model for our client to enable them to hire the best candidates possible globally. We also gained commitment to help effectively integrate our successful candidates into the main firm.
Locate and secure the best candidates
Uniquely for this search we had a very limited number of source firms. Magellan leveraged its own networks, but also engaged independent third party research to validate that we were seeing as many passive candidates as possible. Magellan was able to find three to four viable partner level candidates in the top four geographies within eight weeks. From there, we moved quickly to coordinate interviews and narrow the field to the top candidates. We were also able in most cases to quickly source team members to support the partners.
The Magellan Difference
- Developed an advanced hiring process with hiring managers and our client’s HR leadership to ensure our client’s message to each candidate was positive and compelling
- Reconfigured the compensation structure to entice candidates accustomed to a different salary and bonus structure as they crossed geographies
- Quickly (within 3 months) created a persistent pipeline of qualified candidates that sustained over 8 years of consistent high quality hires
The Results
Creating brand awareness and courting top candidates in a sophisticated fashion quickly leveraged up the firms new global practice
Magellan’s focus on building a strong hiring case with our client, coupled with our compelling career case recruitment process has enabled Magellan to help our client build a global energy consulting practice that is now generating revenues in excess of $75MM and still growing. This seven year partnership with our client is a singular model of success for a firm to build an externally focused consulting practice effectively.
Our efforts generated have created a sustainable pipeline of over 500 potential candidates for us to manage as the firm continues to grow. The quality of the candidate pool has netted over 25 hires and continues to grow.
New hires at all levels integrate seamlessly and generate commercial traction ahead of expectations
Time to traction was reduced by creating deep understanding with our client about how to efficiently onboard senior lateral hires. Additionally Magellan focused on self-integration skills with each senior candidate to ensure there were no early on missteps. Finally Magellan has maintained an open line of communication with our hires to allow them to ask questions even after joining to be sure there are no false negatives post hire.
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