Executive Search and Rescue Firm
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The Executive Search & Rescue Placement Firm is entering its first year of operation. The Minneapolis community has a need for executive placement and will utilize a professional placement service. The basic market need is a skilled service provider that can assist in the placement of seasoned executives.
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ESR possess good information about the market and knows a great deal about the common attributes of the most prized customers. This information will be leveraged to better understand who is served, their specific needs, and how ESR can better communicate with them.
ESR is providing the Minneapolis community with a sophisticated, effective, executive search service. Executive Search and Rescue seeks to fulfill the following benefits that are important to its customers.
The market trend for placement services is a specialization of the placement services.
In 2000 the executive search industry achieved $453 million in revenue. The industry's growth is projected to be 8% for the next five years.
Part of the fuel for this growth is the recognition that executive search firms are more efficient in finding executives than the internal HR department of most companies. This trend of outsourcing is not unique to executive placements, but can be seen in many different industries from payroll to accounting.
The following SWOT analysis captures the key strengths and weaknesses within the company and describes the opportunities and threats facing Executive Search and Rescue.
Minneapolis currently has about six - 10 executive search firms. There are other search firms that handle many different positions, not just executives.
Executive Search and Rescue will provide a wide range of placement services. Executive will specialize in the high-tech niche of emerging companies, but is equally competent for non-high-tech companies. Executive can place a wide range of executive positions from CEOs to CFOs.
Executive works on a contingency basis, it is paid on placement. This arrangement allows it to work for many different clients at the same time.
Currently, there are about six different executive search firms in Minneapolis. Because Minneapolis is a part of the silicon forest, a hot bed of emerging technology firms, the market is growing at exciting rates.
There are two business models for executive search firms:
The keys to success are:
Executive is still in the speculative stage as an executive placement agency.
Its critical issues are to anticipate growth and scale accordingly. This must be done prudently and analytically. If it is slow to move it loses business, if done too fast then it could suffer in an economic downturn.
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