Head-hunters with the world at their fingertips
The James Partnership, the executive search and recruitment consultancy firm, has brought a global presence to the art of "head-hunting'' for local companies.
The city firm on Reid Street is providing a service backed by the resources of 60 offices around the world.
It was set up in 1974 by Trevor James, in collaboration with certain partners of chartered accountants Ernst & Young Bermuda as a 60:40 venture, which was then called IPS (Insurance Personnel Selection). Now back in the UK, Mr. James runs companies there under Trevor James Holdings.
"If we need to go overseas,'' said manager James E.J. Eason, "we can source people from wherever is needed.
"Some local companies, we know, have traditionally gone directly to overseas executive search firms. But we can quantify the potential savings of using a firm like us who has a presence in the various markets, but also is landed here.
"One obvious advantage is that a Bermuda company's needs are not likely to be at the top of the priority of an overseas company. But it has to be at the top of ours.'' Mr. Eason has been manager of The James Partnership since July. A former Lloyd's insurance broker, he spent ten years in London as an insurance recruiter, dealing with the Bermuda market.
Insurance, information technology and accountancy are the firm's core areas.
But they are engaged in recruiting across many industries. Turn-over has increased fourfold this year.
Mr. Eason said, "There are a lot of people moving from company to company, who can be transferred through the beneficial use of a recruitment consulting company. "We generate fee income from effecting that move. The number of people moving from A to B is sufficient enough, and the companies recruiting those people are beginning to value more the services that we provide, which helps them save time and money.
"Our service is unusual in that it can take over the entire recruitment process for the client firm and do it exactly the way they want it done.
"If they are seeking to fill positions, we would sit down with them to understand the company; get their corporate literature to brief candidates with; learn the function of the job so as to create a deadly-accurate job description; write the advertising copy and run the ad; screen the candidates and interview the ones that are relevant; and, come up with a short list.
"That saves the firm time. They don't want 20, 30 or 40 CVs on their desk. We advertised for a Chief Financial Officer recently in two places and received 150 responses from CFOs in 22 different countries. Firms don't want to deal with that. That's our job and we can come up with five or six people who they may choose to interview.'' Mr. Eason said the firm had a strong market share of the recruitment business, but also did quite a bit of consulting work. He has been re-designing the computer systems to improve the speed of response for clients.
He said, "If people call up for a fund accountant, while they are on the telephone, I want to eventually be able to find those people through a search mechanism before the call is finished, and send the client a fax with the information they want.'' He concedes more care has to be taken in the smaller Bermuda market with details of professionals who may wish to discreetly test the market of potential job opportunities without risking relationships in their existing jobs.
Mr. Eason said, "We brought Dawn Defilla on to help identify areas of corporate Bermuda that are active. We also determined that an IT (information technology) consultant was needed in the firm to focus on that part of the business. "In terms of recruitment, information technology positions have become extremely important across the board, at banks, insurers, legal offices and elsewhere.'' While there is a pseudo-science to executive search, it is not a fool-proof undertaking. Things can go wrong. That's why, Mr. Eason, said it is important that there is some follow up. He knows of executives whose wives were troubled by the move to Bermuda and had to quit, once within a week of arrival.