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Heidrick & Struggles: Service Innovation

To round out the new interactive offerings, we produced a magazine

Situation:
Like many executive search firms in 2002, Heidrick & Struggles was battling a cyclical decline in its core business.

Strategic Insight:
Heidrick needed to move away from the “start-stop-start-stop” engagement model of traditional executive search firms and create a service model around continuous client engagement. Working together, we created and marketed a suite of “Leadership Services”, including interim placement, executive assessment and coaching.

We then leveraged Heidrick’s unique assessment methodology by building an online assessment and reporting tool that not only improves client satisfaction while increasing the efficiency of Heidrick consultants, it also provides a compelling demonstration of Heidrick’s capabilities in pre-sales situations.

Performance:
We turned an intuition about a market opportunity into a complete launch in just a few months. Within 18 months, Leadership Services had booked $20 million in high-margin revenue. By the end of 2003, they produced $40 million.

“They helped Heidrick to innovate in several areas, including using the Web to expand our search business, pioneering the use of client-facing extranets, and rolling out our Leadership Services offering. Their ability to drive change throughout a complex, global organization like ours enhances our ability to compete, and improves our bottom line.”
– Wesley D. Richards, Senior Managing Partner, Heidrick & Struggles

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About Rick

Rick Scherle is a founder and Senior Managing Partner at Zoe Street.