The struggle to recruit and retain staff has never been as tough. Both sides of this equation are important, as even the most skilled team will achieve less than they should if the HR infrastructure and policies are sub-optimal. This is the logic behind Korn Ferry’s physical return to Luxembourg.
Korn Ferry styles itself as an “organisational consulting firm” which aims to help with all HR challenges in a holistic fashion. This goes from executive search and recruitment through to HR-related consulting services, going as far as to explore how this impacts business strategy.
This US-based global group first opened an office in Luxembourg in the 1990s, but this changed to a virtual presence from 2010 following a period of consolidation after the financial crisis. However, since this spring the company has once again had a physical presence in the grand duchy, with the office established by senior client partners Martine Kerschenmeyer and Gabriela Nguyen-Groza. They have since been joined by Kahina Feknous, a managing consultant.
“We have been serving the Luxembourg market from other offices in the group,” said Kerschenmeyer. “But with activity in Luxembourg increasing so strongly and the requirements of Brexit, we saw it was the right time to have people sitting in the country to connect with clients and candidates.”
A native Luxembourger, Kerschenmeyer had been working in the London financial services sector for 18 years. Nguyen-Groza has 10 years of experience on the Luxembourg market, first in the fund industry and then as an executive search recruiter , while Feknous is a specialist in industry and services. They are joined by the director of Korn Ferry Advisory BeLux, senior client partner Olivier Courtois, who is based in Brussels.
Experience at every level
The record demand for high quality staff is driven by the need to match increased market demand, and to meet the regulatory requirements for substance in an international business hub. Experienced professionals are needed at every level. They also have a twin-track strategy of executive search to find C-suite and board candidates, as well as recruitment for middle management.
As well as locating talent locally, the Luxembourg team will use the Korn Ferry network of 7,500 colleagues in over 100 countries. “As well sectoral recruiters, we have international specialists who focus on key roles such as CFOs, HR, marketing, IT, cyber security and more,” explained Nguyen-Groza.
Not everyone appreciates what Luxembourg has to offer, but for some it is the ideal mix of cross border business without the stresses of a major city. Only by knowing individuals well can an assessment be made whether Luxembourg is the right fit for a candidate thinking of moving from abroad.
Talent acquisition is just one of Korn Ferry’s business lines. It also offers consulting services such as advice to boards and top-management executives on organisational strategy, assessment and succession, leadership development, and rewards and benefits.
Given that Luxembourg offices and headquarters are being expected to carry out increasingly varied and sophisticated business functions, there is often not the institutional experience on-hand to manage this transformation. Not least because this growth is happening so quickly.
Often organisations need advice on how to create appropriate organisational structures to suit the team that has been hired. The right people are needed, but they will expect an environment where they can work effectively, be rewarded, and be motivated.