In our view, the HR Director has had a lot to contend with in recent years. Most notably, talent acquisition and management, managing diversity, supporting evolving working arrangements, embracing AI innovations and new legislation, all in the face of an ongoing parade of crises, from the COVID pandemic to social upheaval.
Building on the foundations of earlier studies conducted by Principal Connections, we decided to undertake a research programme in April 2024, to explore the current disposition of the HR Director functional role in Ireland. The objective was to develop and provide a comprehensive understanding of what the role of the HR Director now means through capturing the views of those who understand it best.
Our research explored a diverse range of topics including CEO expectations, functional challenges, succession, core competencies, HR sentiment and more. We also endeavoured to focus on remuneration including fixed pay, benefits and bonus entitlements together with notice periods on resignation.
With offices in Dublin, London, Cork and Gaway, Principal Connections is one of the top executive search firms serving Ireland and the United Kingdom. Clients include large multinational corporations, small-to-medium enterprises, start-up and family-owned businesses, not-for-profit, semi-state and public-sector bodies. Principal Connections is also part of Agilium Worldwide LLC (est. 1984), ranked one of the top executive search firms globally with 55 offices across 30 countries.
According to numerous well documented studies, between 50 - 70% of executives fail inside their first 18 months in post. Hence why in times of change, a key executive-level hire can mean the difference between success and catastrophe. Last time, your company may have kept this important executive recruitment in-house, leveraged its own network, relied on an online advertisement or hired a contingency recruitment agency. But, mistakes were made and you now know that a poor appointment to a crucial position can have detrimental consequences that can take much time and expense to recover from.
This is where a retained executive search firm may come in. So what is an exec search firm? By definition, an executive search firm is a professional services company (informally called an executive headhunter) that specialises in identifying, evaluating and appointing executive-level management (and often other management, specialist, board and interim executives) for client companies across industries. Retained executive recruiting firms operate on an exclusive, client-centered basis and work only on a limited number of engagements at one time often with deep expertise in a client's industry. Partnering with an executive search firm is not just a one-time transaction - it’s a long-term relationship whereby the exec search firm is retained in an advisory capacity and is engaged in all aspects of the talent acquisition and executive recruitment process, from defining the parameters of the search through to candidate onboarding and integration.
There are times when the advantages of a retained executive search outweigh all other options; here are the foremost reasons why a company retains an exec search firm in our experience.
Only a retained executive recruiting firm will pinpoint and persuade executives who are not actively looking, i.e. not ‘on the market’, delivering only candidates with the right mix of experience, skills and knowledge, along with the requisite cultural fit. Some retained exec search firms have a global network of contacts across various industries, meaning that the pool of talent they have access to is far larger, more exclusive and higher quality.
Very few people are likely to be qualified for this position; the needle in a haystack metaphor comes to mind. Retained executive search agencies directly approach potential senior candidates who are currently employed and successful at target companies.
An executive recruitment decision is a sensitive thing on many levels. It is prudent to keep this information from the client’s competition, while being careful not to alienate customers and shareholders. Furthermore, the executive to be replaced should not become prematurely concerned. This confidentiality is appreciated by candidates and clients alike.
When an exec search falls outside your area of expertise, it is important to plug the knowledge gap with a leader rich in domain know-how. An executive search agency will invest significant time and effort to get to know your organisation, its culture, the responsibilities and requirements of the position, all before initiating the search. They work with you on the needed skill set and advise on the right candidate profile to ensure the long term success of the new hire.
Not all backgrounds are well-represented at senior executive levels. An executive search agency can help level the playing field by conducting proprietary research to ensure equal opportunity. The available pool of candidates seeking a given position is often rather homogeneous; an executive search consultant will work hard to broaden that pool by identifying, approaching and persuading candidates who are normally gainfully employed, but fit the required skills and bring the desired diversity to your leadership team.
If you already have too much to do and too little time, taking on an executive search can quickly become its own full-time job. A retained search firm engages in the entire due diligence process. Beyond the identification and presentation of candidates, a retained firm takes great care in assessing suitable candidates, often utilising the most sophisticated tools and methodologies. They support the integration and on-boarding of the candidate, and work to ensure the long-term success of the hire.
Executive Search Consultants are in the business of delivering top performers i.e elite candidates. Hence they measure their success on the longevity of a placed executive’s role, and the impact of their contribution to the organisation as a whole. Executive Headhunters are therefore best positioned to help you trade up to a top performer who drives results.
Hiring through an executive search firm is a good way to avoid damaging relationships with businesses that you often work with e.g. suppliers, partners etc., or causing tension with a competitor. Recruiting from the same pool of executive talent becomes far less complex when working through a discreet, impartial third party.
Being prepared for every eventuality is crucial for business stability. Unexpected resignations can cause unwanted disruption and hinder strategic delivery. Hiring an executive search firm to come in and assess your workforce is a reliable way to get a fuller picture of the in-house executive talent you already have or have coming through, and also lets you know which options are available to you externally.
With offices in Dublin, London, Cork and Gaway, Principal Connections is one of the top executive search firms serving Ireland and the United Kingdom. Clients include large multinational corporations, small-to-medium enterprises, start-up and family-owned businesses, not-for-profit, semi-state and public-sector bodies. Principal Connections is also part of Agilium Worldwide LLC (est. 1984), ranked one of the top executive search firms globally with 55 offices across 30 countries.
Dublin, Ireland, 11th April 2024 - Principal Connections – executive search is pleased to announce that Pat O'Donnell, Director and Managing Partner, has successfully completed a Management Buy-out obtaining full ownership of the firm by acquiring the shareholding interests previously held by Director and Chairperson Hilarie Geary and Shareholder Gary Byrne.
With offices in Dublin, London, Cork and Galway, Principal Connections is one of the top executive recruitment firms in Ireland and in recent years has also established a strong UK client base. Clients include large multinational corporations, small-to-medium enterprises, start-up and family-owned businesses, not-for-profit, semi-state and public-sector bodies. Principal Connections is also part of Agilium Worldwide LLC (est. 1984), ranked one of the world’s top global executive search groups with 55 offices across 30 countries.
Managing Partner, Pat O’Donnell said:
“I would like to sincerely thank Hilarie Geary and Gary Byrne for their significant contributions over the years and wish them well for the future. Together we have assembled an exceptional team of executive search professionals who do ‘executive search’ better than anyone else in the market. Looking ahead, it is now very much business as usual. We will continue to serve and deliver for our clients while also innovating new offerings to achieve further growth.”
Outgoing Director and Chairperson, Hilarie Geary said:
“After three decades of working alongside the incredible team here, I’m filled with mixed emotions as I depart. It’s been an extraordinary journey, and I’m immensely proud of what we’ve achieved together. I extend my deepest gratitude to each and every member of the firm for their unwavering commitment and dedication over the years. While it’s bittersweet to say goodbye, I have full confidence in the outstanding capabilities of Pat and the team and sincerely believe that they will continue to nurture the company’s success. To Pat and all the team, I express my heartfelt thanks for your support and collaboration. As I embark on a new chapter, I carry with me cherished memories and profound appreciation for the privilege of being part of this great firm.”
Principal Connections’ is a market leader in the recruitment of the most senior CFO's and Finance Directors across Ireland and the United Kingdom.
In our view, the responsibilities of the CFO have become broader and more diverse than ever with the increased adoption of digital technologies, disruptions caused by the COVID-19 pandemic, and a wave of geopolitical and economic uncertainties.
Principal Connections - executive search conducted a research programme between 24th July and 11th of August 2023, to investigate the current disposition of the CFO functional role in Ireland. Our objective was to facilitate a comprehensive understanding of what the role of the CFO now means, through capturing the views of those who understand it best. The following is a snapshot of some of the insights....
If you would like to receive a complimentary copy of our CFO Consensus 2023, please click on Download Your Copy above.
Principal Connections’ Financial Officers Practice is a market leader in recruiting for Finance C-suite appointments across Ireland and the United Kingdom. We identify, assess and recruit Chief Financial Officers, Finance Directors, Heads of Finance and Financial Contollers among other finance roles with the right professional experience, competencies, education and cultural DNA to lead in today’s unprecedented business environment.
In our view, DE&I is integral to the success of businesses today. It is well-established that organisations with diverse workforces are more likely to financially outperform their peers and excel in areas ranging from employee retention to innovation. Moreover, leveraging different perspectives contributes to a more complete understanding of opportunities and issues, fostering better decision-making and competitive advantages.
All this being said, what is far less apparent in today’s business environment is how organisational diversity programmes have evolved, and furthermore, what work remains to be done.
Principal Connections decided to undertake a research programme in May and June of 2023, to explore just how far along their DE&I journey organisations across Ireland have come. While it is evident from the findings of the report that good progress has been made, it is clear that there remains a long way to go. We hope that this research piece will help organisations to diagnose and benchmark the maturity level of their DE&I programmes, and to identify their strengths and areas for enhancement.
If you would like to receive a complimentary copy of our Diversity, Equity & Inclusion Consensus 2023, please let us know by clicking on the following link and sharing your contact information
Principal Connections - executive search is committed to advancing DE&I in leadership. Actively partnering with our clients to help advance their DE&I objectives, we embrace various methodologies throughout our executive, CEO and board search engagements, with the goal of increasing the representation of historically underrepresented senior leadership.
Principal Connections - executive search is a Founding Signatory of the Executive and Board Resourcing Code of Conduct for search professionals and businesses established by IBEC and the 30% Club. (Jun. 2016, updated Apr. 2019). We are also an advocate for “Balance for Better Business”, the independent business-led Review Group established by the Government to improve gender balance in senior leadership.
