As a buyer of executive search, which would you prefer: a search firm that knows your industry like the back of its hand or one that is devoted to serving you and you alone?
In its early years, the consulting firm Bain & Company would only work with one client per industry to avoid potential conflicts of interest.
I wonder whether a contrarian, anti-specialization approach might actually resonate with some VPs of Talent Acquisition. I realize this flies in the face of experts who recommend that firms such as mine specialize in order to lure business away from the major retained search firms. In fact, I've been told that specialization is the only way to do so.
As neat and tidy as that seems and while specialization offers economies of scale, it poses a number of conflicts of interest. Moreover, specialization makes a search firm more vulnerable in whenever the economy takes a hit. If your sector goes in recession, so then do you.
I'd be interested in hearing whether any of you know of a firm that's refused to specialize in order to avoid conflicts of interest and off-limits list.
And I'd welcome discussion and comments on this and other "out of the box" ways to explore raising the bar, inspired by the realization, "there's got to be a better way!"
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