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Today’s gold rush – structuring talent and reward as the talent bubble bursts

In the early 19th Century the ‘gold rush’ saw a rapid influx of fortune seekers to the sites of newly discovered gold deposits, the earliest being in the United States. Today’s ‘gold rush’ has seen a rapid influx of tech start-ups and talented tech wizards to hotspots in the US, particularly Miami, FL. Pent up private equity capital flooded into hyper-growth tech companies following the pandemic years as entrepreneurs couldn’t hire talent fast enough to deliver on high growth objectives and promises to investors. Then the market almost skidded to a halt. Inflated salaries, rising interest rates and the escalating cost of living has led to companies such as Meta firing another 10,000 employees having just reached a headcount of almost 30,000 between 2021 and 2022. In this ‘market correction,’ inflated salaries are now unaffordable, and a disconnect has appeared between people, performance and value. Valerie Derome, Senior Vice President, Leadership Advisory at M SEARCH explains, “A lack of strategic talent planning has resulted in expensive super performers brought in as a ‘band aid’ doomed to frustration and stress, when what the organization needs is a comprehensive review and reset around strategic talent”. A feeling of ‘everything everywhere all at once’ is leaving business leaders reeling as they strive to understand how to manage another hiatus in the workforce. “This is not just happening in the tech sector,” comments Tina Engineer-McRae, Founder and President of M SEARCH. “We are seeing this across the board as the market adjusts to a new reality. This is leading to extreme caution in hiring, as ‘rockstar candidates’ are made to jump through multiple hoops and companies are no longer willing to engage in a talent auction”. It’s a major U-turn, with an enormous amount of displaced employees scrambling for killer jobs; companies no longer have to jump the highest bar to woo talent. The challenge now is to understand an individual’s value in the context of the organization and the market; who will fit a changing culture; and how they will fare in the next market correction. This is made harder by the fact that a lot of hyper growth companies didn’t have HR and Talent expertise, or if they did, it was unfortunately cut as a cost center, which has proved extremely costly in itself. Organizations are now in a rush to access HR and Talent expertise. For some, fractional leadership – a part-time, short-term C-level expert – is the solution; for others, specialist consultants are the answer. Who are they and how can they help? Our leadership advisory team has consistently expanded its services to help clients navigate this market. “We engage as the (?)Chief People Officer for a number of clients who have a broad range of needs. We enable them to understand their capability gaps in context, create a plan and process around them and manage the impact of a bursting bubble,” explains Valerie. “For early-stage companies,” Valerie adds, “bringing in a strategic Head of People is not on the budget nor the agenda for another few rounds of funding. We then need to work with those companies’ leadership to create foundational practices and behaviors, and embed those in their leadership success model. For one of our clients, a niche consumer goods company, we have established HR processes, structures and protocols to create a platform on which to build the right team.. We have also put in place a mechanism for regular talent reviews to identify and reward high performers who will move the company forward, the strong pillars, innovators, and implementation drivers. It is crucial to have a good mix on the team. Then in time, we can find the right Chief People Officer to leverage what we have put in place”. With such a rapid adjustment both internally and externally, organizations need a more intentional, planned approach. An integrated leadership advisory and search solution can provide a holistic, longer-term approach that is grounded in robust planning and processes. Valerie concludes, “For the greatest intangible in your business – your people – you need more process and intentional thinking to reconnect people with performance and value, so you can hire the right people with reward linked to outcomes rather than froth in the market”. Valerie Derome is head of M SEARCH’s leadership advisory services. She was previously Senior VP of Talent and Leadership for REEF Technology and Talent Development Lead for Apple in Latin America. She delivers bespoke programs in talent organization effectiveness, people capital, and culture. Specific engagements include building talent capability; reorganizing structures from product-led to people-led; constructing talent acquisition teams, approach and process; acquiring the right technologies to support the people function; developing authentic leaders and embedding a culture of belonging. Tina Engineer-McRae is the Founder and President of M SEARCH and an acknowledged expert in strategically partnering with clients to acquire the best leaders for corporate functions, notably human resources, finance, operations, sales & marketing. Her exceptional eye for recognizing best in class talent has allowed her to engage dynamic leaders, who enable organizations to transform and rapidly scale. She previously worked in the UK with the world’s largest provider of HR solutions, and spearheaded the growth and acquisition of a leading South Florida boutique recruitment firm.

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Tina Engineer-McRae, President & Founder at M SEARCH, Executive Search & Leadership Advisory

Tina Engineer-McRae, a trailblazer in the field of Executive Search and Leadership Advisory, founded M SEARCH in 2007, as she arrived from the UK and blended in with the multicultural, vibrant environment of Miami. She is now the proud leader of a thriving business, the only certified woman-owned and minority-owned business of its kind in South Florida. Tina’s journey to success is one of grit and determination. With a heritage stretching across India, Europe and the United States, diversity and belonging is in the firm’s DNA. Tina and her team have earned a reputation for placing multicultural leaders and agents of change across all major industries. Through a distinctive concierge approach, the team understands their clients so intimately, that they become trusted advisors. The firm’s loyal clients include Fortune 1000, mid-size, hyper growth, start-up, private equity-backed and non-profit organizations, establishing M SEARCH as a highly respected boutique player in the industry.

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Mughal & McRae Renamed as M SEARCH, Executive Search & Leadership Advisory

Tina Engineer-McRae and her team at M SEARCH, Executive Search and Leadership Advisory, are pleased to announce their new name and logo following a change in ownership in Q3 2022. “Our new name is crisp and simple, honoring our company history,” comments Tina Engineer-McRae, President and Founder of the firm. “Our ‘concierge approach’ to client service is symbolized by the crown in our logo and remains the royal standard for our work, while also recognizing my heritage as a British citizen with Indian roots. The team is thriving, living our values of Courage, Curiosity and Collaboration, and energized about our future as M SEARCH Executive Search and Leadership Advisory”. “Our concierge approach to client service is symbolized by the crown in our logo and remains the royal standard for our work, while also recognizing my heritage as a British citizen with Indian roots. ” — Tina Engineer-McRae President and Founder The original firm was established in South Florida in 2007 with the express intent of providing a ‘concierge experience’ in executive search, with a core focus on building diverse leadership teams for clients. In recent years, the firm has grown significantly and expanded into leadership advisory services, led by Senior Vice President Valérie Derome, who delivers transformational change for hyper-growth and mature clients through a unique blend of design thinking and flair for talent leadership. Tina Engineer-McRae took up full ownership and management of the firm in August 2022, celebrating its 15th anniversary, and formal certification as a female-led, Women’s Business Enterprise by WBENC. Tina was accepted into the membership of distinguished network CHIEF for the most powerful women in leadership. Last year also saw the promotion of Senior Client Director Fernando Vega to VP Executive Search, Partner.   About M SEARCH M SEARCH is the leading minority-owned executive search & leadership advisory firm in North America. Through a distinctive ‘concierge’ approach, the firm partners with Fortune 1000, mid-size, hypergrowth, start-up, private equity-backed and non-profit organizations to attract and retain the best leaders and agents of change across all major industries. Leadership advisory programs deliver the full suite of talent solutions for organizations and individuals, optimizing team structure, the cultural environment and performance. Diversity, equity & inclusion is in the firm’s DNA, and it is accredited by AIRS as a Certified Diversity & Inclusion Recruiter. For more, visit www.msearchadvisory.com Valerie Bleus M SEARCH +1 305-571-9590 email us here Visit us on social media: LinkedIn

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Remote and Thriving

The “blended workday”, the “new future of work”, the “hybrid environment” have replaced the outdated “work-life balance” in leadership conversations. When most companies made an effective shift to remote work in 2020, they are now seeing issues that are limiting their ability to be successful. Employee engagement and connection to the mission seem low; productivity is impacted, as well as the overall capability to innovate and execute. These are directly related to the change in how employees interact. In a context where employees do not wish to come back to the office full-time, are likely scattered across countries and not tied to a specific office location, and where people managers are out of their wits on best practices to adopt, how to envision a ‘now of work’, where office utilization is redesigned, and where work, culture, and employee delight happen? Build a clear company cadence From strategic planning to cascading OKRs, from Agile execution to performance reviews, adopting companywide practices and processes will not only set the standard for flawless execution, but also allow to codify and plan in-person team interactions along the cycle such as kick-offs, off-sites, all-hands, and office days. Set unprecedented standards for leadership and people management practices Managing remote employees is not a new trend born with Covid. Global organizations have been doing it for decades. What is new are the imperatives to: 1: Create a new breed of authentic people managers, equipped to deal with feelings, emotions and mental wellness as well as results and deliverables, who know how to create a sense of belonging through virtual settings. 2: Define inclusive people management practices that deliver the same employee experience and opportunities, regardless of where they sit. 3: No leniency for mediocre managers, even your highest revenue generating sales leader. Who gets promoted, who gets terminated, are indicators of how Leadership walks the talk. It takes two Flexible working is a moral contract between two parties where “bring your best self to work” has never been so meaningful. It remains a responsibility for companies to provide an inclusive environment for employees to feel safe, be themselves, be engaged, therefore do their best work. Yet this statement also reads “People, show up”. What if the best self is also the one who is accountable, dependable, delivers results, seeks personal growth, supports others, promotes the mission, models company values, asks for help and shows vulnerability? Yes, it’s about attitude. Assess “remotability” of roles The reality is that some jobs lose their impact or purpose if performed remotely. Those where specific work-based equipment is needed, of course. But also, for instance, jobs that require significant supervision – interns, entry-level – and their managers. Or those demanding a high level of innovation – R&D, engineering, creatives. We can also imagine some specific projects, for some specific duration, benefiting from in-person vs remote work. On the opposite end of the spectrum, “If you can do your job from Boulder, it can be moved to Bangalore” said Scott Galloway, Professor of Marketing at NYU, public speaker and thought leader. So, if it can be moved to Bangalore, you’re probably fine staying in Boulder – unless we see there a strategic opportunity to delocalize some roles to Bangalore. Adopting a company-wide philosophy on “remotability” will add to the Employer Value Proposition, managing expectations for both employees and candidates. Because yes, there will be a recommended baseline for office time for everyone. Re-invent what office days look like for remote workers Nobody wants to come to the office to be stuck in a cubicle on video calls. No breaking news here, what people miss the most with remote working is socializing with other human beings. Office days should be driven by a purposeful team agenda focusing on activities that benefit from an in-person setting vs remote: for instance, brainstorming, 1:1, mentoring, exposure to leadership, knowledge sharing, and social events. And now about that time at home Helping people structure their time and signal what they’re up to, designing moments and modes of working together, establishing norms and tools for communication and collaboration, creating an intentional connected culture where everyone feels they belong and want to give their best. Quiet quitting not allowed! We are all humble learners here. Thought leaders are providing valuable insights, and businesses, from Fortune 100 to start-ups, are looking for the magic recipe to accelerate pace of business whilst balancing the needs and requests of their employees. At Mughal & McRae, we can help you envision and implement tailored solutions for your unique company.

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We are celebrating our 15th Anniversary!

November 2022 marks our 15th Anniversary! We talk to founder and trailblazer Tina Engineer-McRae, daughter of a world-famous cricketer, about finding success and the magic of a first client who “loved her bright and vivacious personality!” As the late Queen Elizabeth shook hands with cricketer Farokh Engineer after a test match at Lord’s Cricket Ground in London she said, “I have news for you. It’s a girl!”. Farokh had missed the birth of his daughter to play in a test match for India, at the height of his sporting career. This sense of commitment was passed down by Farokh and his forgiving wife, Shernavaz, to Tina Engineer-McRae, who had all the early indications of a highly entrepreneurial personality, full of energy and ideas, destined to put her own stamp on the world. A few years later, the family moved to the UK where Tina grew up and launched her career. “What made you move to Miami?” we ask Tina. “I was on holiday with my sister and loved the vibrant, multicultural atmosphere. I had studied business, French and Spanish at university, so the Latin influence resonated with me and I immediately felt a strong affinity with the city”. Returning from holiday to Manpower, Tina pushed for an ‘intracompany transfer,’ a new approach to resourcing that became mainstream as globalisation grew through the 1970s and 1980s. The regional manager in Miami received a ‘masterclass’ from Tina in relationship building as she pushed for a meeting, an interview and the chance to deliver on her promise: “I will help you build your business in Miami!”. She did just that, bringing ideas and best practice with her. The UK was a more mature recruitment market and Tina brought her own blend of professionalism, pioneering excellence in client service through her ‘concierge’ approach, strengthening due diligence and upgrading documentation and processes, “A lot of this came from curiosity,” explains Tina. “I was fascinated by the market in this region and had a huge drive to identify opportunities to integrate best practice and ideas from the UK. I was also hungry! I didn’t know a soul in Florida and arrived with just a rolodex, a passion for delivering for clients and a keen awareness that as an award-winning leader at Manpower, I had a lot to prove in this new adventure!” Despite feeling an affinity, Tina initially felt a ‘foreigner’ in the United States. She recognized this feeling from the UK, where, even though she had been born there, her immigrant background had marked her out. “Not only that, but I arrived with an accent no-one understood!” laughs Tina. “Although I felt ‘foreign’ I knew I could blend into the multicultural environment that had attracted me in the first place. All I had to do was engage with clients as individuals, and do everything I could to understand their culture. My own multicultural background has enabled me to be a ‘culturally adept,’ stepping into the shoes of my clients to see challenges from their perspective. When you ask the right questions, you can find the right answers”. As she found her way, Tina looked to her heritage. Her father and mother were role models, becoming entrepreneurs in the textile industry and teaching Tina the value of work hard, business integrity and client service. The family culture was proud but realistic. “As immigrants, we were taught we had to work much harder to get anywhere. Racism didn’t stop us, it was in our culture to work twice as hard. Watching my parents become entrepreneurs made me realise that one day I wanted to run my own company ”. What was the reaction in Miami, when Tina arrived? Martin H. Smith, an early client, then Head of HR for Ivax Pharmaceuticals, says, ”I first met Tina in 1997 when she came to the United States. I was very impressed by her right from the get-go and we instantly connected. I loved her bright and vivacious personality as well as her desire to get to know me quickly, as a key client for her organization. Tina is a quick study. She learns fast and understands her client’s needs by taking the time to get to know the leaders and their business units. I have brought Tina into every organization I have worked with since the day we met. She has the highest work ethic and her conduct is beyond reproach. Tina is exceptional to work with and twenty-five years on I call her a dear friend!” Tina will never forget her first client. “Martin taught me how important relationships are. I always had a ‘concierge approach’ built in, because my father was like that, I learned from him how to quickly build trust and loyalty, providing the best possible service, getting to know the client and having integrity in every interaction.” Tina knew she could make a difference in executive search through the principles of concierge-style client service, multicultural understanding and a fearless ability to take on any work and know she could deliver. It was not easy; the business went through two recessions and a pandemic during which Tina learned the value of agility and reinvention, setting up leadership advisory services alongside retained search. “Don’t be afraid to take risks and reinvent yourself,” insists Tina. “We were self-funded, but we took risks, we are passionate and love what we do. My immigrant mentality has served me well!”. Through grit and determination, and hiring the right people for her own business, Tina’s firm is now a major part of the commercial fabric of South Florida. “Our success is built on doing for myself what I do for my clients!” she says. “I have hired some exceptional people in my time – people in whom I saw something special, and many have gone on to exceptional careers with leading brands like PwC and other global firms. I am very happy to have trained them and sent them out into the world to achieve their long-term ambitions”. Tina continues

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M SEARCH ANNOUNCE FERNANDO VEGA AS PARTNER & VP, EXECUTIVE SEARCH.

MIAMI, FLORIDA, UNITED STATES, October 27, 2022 /EINPresswire.com/ — M SEARCH, a leading minority owned executive and leadership advisory firm, has announced the promotion of Fernando Vega to Partner, Vice President Executive Search. In addition to leading M SEARCH’s Executive Search department and Finance & Accounting Practice, Fernando will work alongside President and Founder Tina Engineer McRae to manage the company and drive the strategy forward. “Fernando has been a key part of our success. His commitment, exceptional ability to find hidden talent as well as his overall contribution to our business over the past few years has been invaluable to our firm’s growth. Our partnership will be powerful to take the firm into the future.” said Tina, President of Mughal & McRae.” Fernando joined the company in 2019 as Head of Accounting, Finance & Tax Search and quickly stood out for his outstanding assessment skills and ability to uncover unconventional talent. An active Certified Public Accountant and former auditor, Fernando immediately embraced the firm’s concierge approach to drive flawless search assignments for his clients across a number of business sectors. With a firm belief that a diverse leadership team provides a competitive advantage, Fernando is also a Certified Diversity & Inclusion Recruiter accredited by AIRS aligning perfectly with the Mughal & McRae philosophy of inclusion. “I am honored by the recognition and excited by the opportunity ahead. Ultimately, clients want to build balanced, diverse, and high performing leadership teams, fast. My expertise combined with our distinctive approach to retained search have allowed me to deliver a unique experience, resulting in building a loyal client and candidate base across the country. I am looking forward to leading our team to new territories with our secret recipe!” Fernando obtained a Master’s degree in Finance and a Bachelor’s in Accounting & Finance from Florida Atlantic University. About Mughal & McRae: Mughal & McRae is the leading minority-owned executive search & leadership advisory firm in North America. Through a distinctive ‘concierge’ approach, the firm collaborates with Fortune 1000, mid-size, hypergrowth, start-up, private equity-backed and non-profit organizations to attract and retain the best disruptors and agents of change across all major industries. Leadership advisory programs deliver the full suite of talent solutions for organizations and individuals, optimizing team structure, the cultural environment and performance. Diversity, equity & inclusion is in the firm’s DNA, and it is accredited by AIRS as a Certified Diversity & Inclusion Recruiter. VALERIE BLEUS Mughal & McRae email us here Visit us on social media: Facebook LinkedIn

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What does a DEI-accredited executive search firm bring to the table?

In an article on harnessing the power of diversity for profitability, Forbes asserts that EBITDA can be increased by 33% through recruiting for diversity[1]. How? Forbes says simply, “diversity drives innovation; innovation drives profitability”. The figure is substantiated by research from Deloitte, Boston Consulting Group, Harvard Business Review and Forbes itself. The need for cognitive diversity prompts a great line from Forbes, “echo chambers don’t produce new sounds”.   The groundswell of recognition for what a truly diverse organization can achieve is energizing. We thrive in this environment; 66% of our searches are for diverse executives, this is our home territory.   “It is important to define what diversity means in the context of an organization, their location and existing leadership team,” comments Fernando Vega, Senior Client Director at Mughal & MacRae. “We scrutinize the full profile of a team and move the needle in every engagement because ninety percent of leadership teams are still predominately white and male. As the younger generation comes through, we can really make a difference, evaluating diverse talent beyond the college brand, beyond a formulaic path; with common ground based purely on attitude, energy, drive and commitment.”   Organizations go about diversity in different ways. Employees go on management courses that teach rigorous, professionally-certified standards for effective Equity, Diversity & Inclusion work, many run by leading business schools and professional associations. Certification bodies also include specialist councils and networks, as well as chambers of commerce. From a corporate perspective, organizations increasingly select advisors according to diversity criteria, such as minority-owned or female-led firms. Certification helps businesses to be found, with private and public sector organizations actively seeking a slate of different providers.   “DE&I practices are not something companies can improvise,” comments Valerie Derome, Senior Vice President, Leadership Advisory, Mughal & McRae. “Authenticity is required to deliver against the promise of belonging. Certified small businesses live and breathe DE&I and provide advantages to clients through first-hand experience and understanding of systemic inequality, the dynamics of power, prejudice and bias.”   What are some examples of diverse recruiting practices? Gender-neutral job specifications, an employer brand that showcases an inclusive culture and commitment to DE&I, a diverse interview panel, competency-based interviewing that focuses on skills and capabilities to avoid personal biases. Also, scheduling interviews during standard working hours to respect personal time; this resonates with parents, especially women. There are other approaches too, such as usability of career pages for the visually impaired.   In today’s employee market, diversity candidates are in high demand, often pursued concurrently by more than one or two prospective employers. It is therefore essential that internal hiring processes are robust and well managed, with excellent coordination between client and advisor, particularly with regard to timing.   We are in a new era of proven outcomes. Businesses care about diversity because it drives innovation and profitability. That is what a DEI-accredited search firm brings to the table.   Click here if you would like to discuss this with us.   Mughal & McRae is a DEI-accredited recruiter certified by AIRS[2], recognized and promoted by the AESC, the leading global association of executive search and leadership consultants. Members of Women’s Business Enterprise National Council WBENC and private women’s leadership network CHIEF. [1] Harnessing The Power Of Diversity For Profitability [2] AIRS Is the leading all-inclusive training solution provider

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