Tracking search data to facilitate strategic Private Equity hiring

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“We take great pride in creating value for our clients and Invenias helps us to track and manage all our search work, while keeping down hiring costs.

Meredith Keller, Head of Research at Bespoke Partners, recognises the value of complete visibility across the firm’s search assignments. “Our clients in the Private and Growth Equity sector demand a high level of delivery from us. We’re finding and placing experienced senior-level executives for them and they expect a clear picture of where each search assignment is.”

The San Diego-based company works with Private and Growth Equity firms across the USA. Until transferring its database platform to Invenias in 2016, Bespoke Partners didn’t have customized reporting capabilities, resulting in the need to create reports by hand.

“We realised we needed something different,” explains Meredith. “So, we looked at five or six different tools and kept returning to the Invenias cloud-based platform, which we’d identified early in the process. It gave us the ability to customize our reports and had a range of functionality that the others simply couldn’t compete with.”

 

“We love the reporting tool. It helps us respond quickly to our clients and stay competitive. Before Invenias, everything was done on PowerPoint. Now, at the click of a button we have all the data we need, in the format we want it. We’ve created a workflow on top of it, so that we’re able to synchronize our reports with Adobe and customize PDFs to individual client needs.”

Meredith Keller, Head of Research

 

She continues: “The Invenias account management team helped to build matrices that enable us to create snapshots of each candidate search. For example, a snapshot of a CFO for a Private Equity search might contain the candidate’s remuneration expectations, previous roles, revenue growth, LinkedIn profile, our search next steps and interview process.

“This is all valuable data that can be re-used time and again. So, we’re not having to re-enter information. Instead, it’s available as and when it’s needed. Our recruiting and research teams are excited by the advanced search capability. And, it just gets better and better because it snowballs: the more information that’s entered into the database, the more it contributes to a faster workflow.”

This speed is important in a market where days-to-close a search assignment is a critical differentiator for firms supporting Private and Growth Equity transactions. Meredith quantifies the benefit that Invenias brings in this respect. 

“We’ve done the calculations. Invenias has helped us slash the time it takes to produce search reports by 50%. We previously took two hours to create an average of three profiles per search report. Now it takes just one hour. With a goal of closing 90 searches this year at 12 reports per search, we’ve saved ourselves a massive 1,080 working hours. The net result is that we can keep our hiring costs down, while engaging and closing on more searches overall, thanks to Invenias.”

Meredith Keller, Head of Research

For Bespoke Partners, however, Invenias is more than just ‘an awesome reporting tool’, as described by Meredith. She also uses it to manage the firm’s teams of researchers and recruiters. “I wasn’t expecting the tool to naturally have this capability but since it tracks user actions, it does,” she says.

“When I moved into a management role I discovered how important it was to understand the detail of all the searches and prospecting underway. How many calls have been made to fill a particular role? At what stage is each search? How many pitch calls has the team made? And how successful have they been?

“This type of information is now at my fingertips. I can share it with our senior management and we use it strategically. For example, we can quickly see if we need to deploy more resources to an assignment to create a faster and more successful outcome for the client.”

On a final note, the teams at Bespoke Partners have valued the support from the Invenias account management team from day one. “Customer service goes a long way with me,” says Meredith. “I love the fact that the teams here can call Invenias at any time to get help. While we rarely use it, this gives me peace of mind, and that’s important.”

 

Bespoke Partners is the first holistic human capital firm (Executive Search and Growth Advisory) solely dedicated toward helping PE-owned companies scale.  We are a team of highly-driven experts who work passionately to achieve our clients' objectives. Bespoke Partners works side-by-side with Private Equity firms and their portfolio company leaders throughout the investment lifecycle – from Diligence through Value Creation to Exit. Bespoke Partners offices are based in San Diego, California and Austin, Texas.

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Meredith Keller

Head of Research
  • Founded in 2011 by Kristie Nova
  • Based in San Diego, USA
  • Sector: Private and Growth Equity firms
  • Offering: Executive search and Leadership assessments
  • Previously used Clockwork
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