Profile: Korn/Ferry International (KFY.N)
Korn/Ferry International (Korn/Ferry), incorporated on September 13, 1999, is a global provider of talent management solutions that helps clients to design strategies to assist clients in building and attracting their talent. The Company operates in three global business segments: Executive Recruitment, Leadership and Talent Consulting (LTC), and Futurestep. Its executive recruitment business is managed on a geographic basis throughout its four regions: North America, Europe, the Middle East and Africa (EMEA), Asia Pacific and South America. LTC and Futurestep are managed on a global basis with operations in North America, Europe, Asia Pacific and South America.
The Company is a provider of executive recruitment, leadership and talent consulting and talent acquisition solutions. Its services include Executive Recruitment, consulting and solutions services through Leadership & Talent Consulting (LTC) and recruitment for non-executive professionals and recruitment process outsourcing (RPO) through Futurestep. The Company’s approximately 5,175 clients include public and private companies , as well as government and organizations.
Executive Recruitment Services
The Company’s executive recruitment services are used to fill executive-level positions, such as board directors, chief Executive Officer (CEO ), chief financial officers (CFO), chief operating officers (COO), chief information officers (CIO) and other senior executive officers. Its search consultants serve as management advisors who work closely with the client in identifying, assessing and placing qualified candidates. During the fiscal year ended April 30, 2014 (fiscal 2014), the Company executed 8,144 executive recruitment assignments.
Initially, the search team consults with the client to better understand its history, culture, structure, expectations, challenges, future direction and operations. In these meetings, the team identifies the specific needs of the client and develops a profile of an ideal candidate for the position using its Leadership Sort System, which allows clients to select the desired leadership characteristics for specific roles. Early in the process, the team also works with the client to develop the general parameters of a compensation package that attracts qualified candidates.
An original list of candidates is carefully screened through phone interviews, video conferences and in-person meetings, using its behavioral interviewing approach. Candidates also complete Search Assessment, a behavioral mapping tool that provides clients with insights into how candidates lead, how they approach and solve complex problems, what their emotional profile is likely to be and what motivates them to succeed. The client is then presented final qualified candidates to interview. The Company conducts due diligence and background verification of the candidate throughout the process, at times with the assistance of an independent third party.
In North America, the Company has 20 offices throughout the United States and Canada. During fiscal 2014, the Company had 2,170 assignments billed with an average of 198 consultants. In EMEA, the Company has 19 offices in 17 countries throughout the region. During fiscal 2014, the Company had 1,456 assignments billed with an average of 122 consultants. In Asia Pacific, the Company has 18 offices in 10 countries throughout the region. During fiscal 2014, the Company had 982 assignments billed with an average of 77 consultants. In South America, the Company operates a network of eight offices in seven countries covering the entire South American region. During fiscal 2014, the Company has 444 assignments billed with an average of 19 consultants. In Mexico, the Company serves its clients’ needs in two offices in Mexico through a subsidiary in which it holds a minority interest.
The Company competes with Egon Zehnder International, Heidrick & Struggles International, Inc., Russell Reynolds Associates and Spencer Stuart.
Leadership & Talent Consulting Services
The Company consolidated its strategic management assessment and executive coaching and development services under the name Leadership & Talent Consulting. It has made investments in these service areas with the Lominger Limited, Inc., Lominger Consulting (Lominger), LeaderSource, Lore International, SENSA Solutions, and PDI and Global Novations. Its talent management offerings assists clients with the ongoing assessment and development of their senior executives and management teams and addresses five fundamental needs: Board and CEO Services; Leadership Development; Succession Management; Talent Strategy and Organizational Alignment, and Workforce Performance, Inclusion and Diversity.
Each of Korn/Ferry’s solutions is delivered by a team of leadership consultants, a global network of top executive coaches and the intellectual property of research-based, time-tested leadership assessment and developmental tools. As of April 30, 2014, the Company had LTC operations in 15 cities in North America, nine in Europe, 12 in Asia Pacific, and five in Latin America .
The Company competes with SAP, Oracle, Development Dimensions International, Center for Creative Leadership, Right Management and Corporate Executive Board .
Professional and Outsourced Solutions — Futurestep
Futurestep offers clients a portfolio of talent acquisition solutions, including RPO, Project Recruitment, Individual Search, Talent Consulting and Employer Branding. Futurestep combines traditional recruitment with a multi-tiered portfolio of talent acquisition solutions. Futurestep consultants, based in 18 countries, have access to its databases of pre-screened, mid-level professionals. The Company’s global candidate pool complements its international presence and multi-channel sourcing strategy to aid service for clients around the world . Project Recruitment services offer an outsourced approach for managing multiple hires within a specific timeframe. Talent Consulting services support clients with the aspects of the employee lifecycle, including recruitment diagnostic, workforce planning, talent communication and employer brand, candidate assessment and selection and recruitment technology services. Employer Branding services help clients create a compelling employer brand experience. It uses the research techniques to identify each client’s Employer Value Proposition and then bring it to life across the full range of traditional and digital media. As of April 30, 2014, the Company had Futurestep operations in nine cities in North America, 10 in Europe, 14 in Asia Pacific and two in Latin America.
The Company competes with Alexander Mann Solutions, Hays, Kenexa, Spherion, KellyOCG, The RightThing, HRchitect, Knowledge Infusion, Accenture, Aon Hewitt and Towers Watson.
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