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Magellan’s tailored approach quickly builds buzz and delivers ‘perfect fit’ candidates for consulting firm’s turnaround practice

CHALLENGE

Find a unique team for a new turnaround practice

A leading strategy consulting firm retained Magellan to find the right individuals to build and grow a new turnaround practice.

APPROACH

Internalize the culture

Experience told us that turnaround and consulting professionals have different styles. To accurately represent the firm’s culture to candidates, we spent several days in our client’s offices speaking with pre-MBA through Managing Director level consultants to discuss their working styles as well as their goals, expectations, and concerns for the new hires.

Develop a compelling career case

The time spent with our client helped us to understand their unique culture and pinpoint a persuasive selling proposition that generated significant interest in the market. Our financial services expertise enabled us to reconfigure the target compensation structure to ensure it would be a draw, rather than a barrier, to considering the position.

Locate and secure the best candidates

As is our practice, the partner that sold the work led the team throughout the search. Using his extensive network in the financial services and consulting arenas plus additional third party research, a thorough list of all possible active and passive candidates was created. From there, we moved quickly to coordinate interviews and narrow the field to the top candidates.

The Magellan Difference

  • Developed a compelling career case which built buzz and yielded exceptional candidates
  • Reconfigured the compensation structure to entice candidates accustomed to a different salary and bonus structure as they crossed industries
  • Quickly (within 3 months) vetted and delivered multiple candidates for serious consideration

RESULTS

Positive buzz and top candidates for the firm’s new practice

Magellan’s focus on building a strong career case for the new practice yielded impressive results. Over 80% of the candidates we identified called us back to learn more about the position, even before knowing the name of our client. Candidates from established firms and with significant equity positions pursued the opportunity to join the new practice, despite its lack of a track record.

Our efforts generated a list of nearly 200 possible candidates which were extensively vetted for skills and cultural fit. The quality of the remaining candidates was so high that the firm hired half of the candidates they interviewed.

New hires that hit the ground running

We surpassed our client’s expectations by completing this search more quickly than expected and our client has been very pleased with the performance of the candidates Magellan identified. They have integrated well into the unique and very different culture of the firm.