“CFOs and other executives are not the people that are actively participating in the job market, they are too busy for that,” says Simone Fraquelli, the head of Network Executive – a new initiative by Network Recruitment, which itself is a division of the JSE-listed company ADvTECH Limited. “They usually move jobs when a friend of a friend asks them to consider a position. With my 8 years of experience as recruiter of executives I am able to offer clients a ‘friends of friends’ network.”
The team behind Network Recruitment are set to launch a new permanent executive search business in January 2014, to be called Network Executive. “Our aim is to provide an extremely high quality, retained service to our clients, where we will act as a trusted partner,” says Fraquelli. She says Network Executive’s positions for CFOs, Finance Directors and other top finance professionals will also be advertised on JobsinFinance.co.za, the soon to be launched job board of CFO South Africa, the community for South African finance professionals.
According to Fraquelli there is a need for specialized executive search. “Market research made us realize a more specialized, focussed and results driven approach is needed. We want to give businesses that are looking to fill executive positions a guarantee of getting the job done. The complaints we hear are that traditionally, firms end up paying a retainer for recruiters that have a network that is not wide enough – we have a wide national and international network.”
One of the major success factors of Network Recruitment’s executive search to date has been Fraquelli herself. “My strongest skill is the matching of candidates that meet the client’s criteria,” she explains, revealing something about her approach. “The golden rule is that I never submit a candidate that doesn’t meet at least 90% or more of the skills the client requires, is genuinely willing to accept an offer and is motivated to move for at least one thing other than the money.”
According to Fraquelli 80 percent of the candidates she has placed are still in the company 3 years later and 76 percent have been promoted into more senior roles. “It is crucial for me to maintain my relationships with national and international CFOs, because they will also be looking for Finance Directors and Finance Executives. And I know how to find them when a business is looking for specific qualities, skills or expertise.”
Speed and efficiency are also going to be crucial for Network Executive Search, says Fraquelli. “My average number of days to submit three suitable candidates for a project is around fifteen, and the average number of days until I have an offer is around 25.” She emphasizes that she’ll be mainly interested in ‘real’ executives, but that dependent on the structure of a business, Network Executive Search can also assist in placing Finance scare skills. However, “Network Executive will focus primarily on senior appointments, typically in the R1 million to R3 million cost to company per year bracket.”
“We hope that the CFOs and other talented senior executives we approach will want to build strong, mutually beneficial relationships with us where we make introductions that enhance their careers,” says Fraquelli, who recently worked with businesses like SAFCOL, Gijima, Imperial, Novartis, Sasol and Diversey. “I’m excited by the opportunity to develop and run the Network Executive search business, and build on the strong base already created by Network Recruitment,” said Fraquelli.
If you also would like to share your ideas with the CFO community and you want to be part of the leading CFO South Africa Community, you are most welcome to get in touch with CFO SA. Please contact Jurriën Morsch at [email protected]
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