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Archive for December, 2013

Well, it’s that time of year: predictions, year wrap up lists, and all that kind of stuff. So we thought we would take a look back at how we did with our predictions for 2013.

Last January we gave you all our predictions for this past year. You can find them here https://heresthedealaj.com/2013/01/09/our-predictions-for-2013/

I can save you the time and suspense. We went 4 for 4. Lets look at them below and bullet pointed.

  • Our first prediction for this past year, we claimed that we would see more mergers and acquisitions in 2013. Days later, we saw Virginia Commerce Bank get picked up by United. Bank mergers/acquisitions more than doubled in NJ from 2012 to 2013.  We have seen The Business Bank be absorbed by Cardinal, FNB make another purchase in Baltimore County Savings Bank, MVB getting nutty with CFG, First National Bank of Wyoming most recently getting gobbled up (see what I did there…a little Thanksgiving gobble reference?) and these are just a few of the many that took place. This year we have seen many community banks remain independent and even grow when it seemed as though they were on their way out.  Now the question becomes, were these banks forced to improve themselves because they could not sell, or did they truly have the desire to save themselves?  If the former is true, it’s possible that there will be even more mergers and acquisitions in 2014.  Will these banks survive or will they be acquired anyway?
  • We said recruiting services will increase in 2013 and they sure did. How many of you reading got more calls from us, our so called competitors, and our real competitors this past year? More banks looking, more openings, and more movement.
  • Here is one that just stays constant…credit openings would continue to dominate. Yep. For every sales position we have seen two credit openings this past year. The good news is we worked on a lot of sales driven roles…meaning we worked on a ton of credit roles.
  • Finally, we said some banks that were down and out would rebound. A significant handful did and they are now growing and staying dedicated to the market, while some decided to make a few bucks and cash out.  Although under agreements, several small community banks are having a run at it in the Philadelphia area and are determined to turn the corner.  Give us a call to discuss.  We may see some growth in this segment next year.

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My name is Adam and I am a headhunter. Whew. Glad I got that off my chest. I would like to confess something else…I believe that more often than not, a great headhunter can be a great business partner. Whew. That felt good too. Here is another one, I understand that a headhunter is not always the best solution. Wowza…that felt liberating folks. Now that I have pulled the curtain back a little on me, let me offer some advice. Smart people trust great headhunters for some of their bigger assignments.

Two of the biggest businesses in this country are the NFL and collegiate sports. The NFL is a 9 Billion dollar a year business, revenue wise. The University of Texas’ athletic department made 164 million last year alone. That is one school. Put Alabama, Florida, Norte Dame, Ohio State, Oregon, USC etc. in there and well…you do the math. So I think we can agree that the men and women that run these establishments make a nice chunk of change and are pretty savvy.

Guess what, sometimes these savvy folks use search firms.

USC just filled their head coaching job. They used a search firm. Texas is looking for a new AD and many believe soon, a new head coach…they are using the same headhunter USC did. When my favorite NFL team was in need of new leadership at the GM level after years of floundering (I am a diehard Carolina Panthers fan, don’t ask) they used a consultant to help them identify and land their man. This is the same consultant that helped the New York Giants get where they are…as in 2 relatively recent World Championships and a model of winning.

Is my point that, because these multi billion dollar “companies” use headhunters so should everyone else? No. Is it that people who don’t use a headhunter are foolish? Nope! My point is simply this; these are big time businesses, run by big time people that got to where they are by making big time decisions. When it comes to the bigger decisions with their “companies” they look for help…sometimes.

Sometimes that help unearth new solutions and sometimes that helps identify the prize that was right in front of their client’s face. Bottom line is, they partner up.

You know as well as I do that any NFL owner, or college Athletic Director, could rattle the names of most coaching candidates off the top of their head in seconds. Additionally, they can find candidate ideas within minutes using their own people, devices and pull. Hell, I could pop online and find a list of every NFL Coach past and present, coordinator, ball boy etc. It does not matter to these team owners and school boards that they already “know all the players”. They know they need help “knowing” them on another level, as in identifying the right fit, convincing them to talk and making a solid decision when pulling the figurative trigger.

The coach USC just paid a nice fee to was employed at USC as a coordinator just a few years ago. Additionally, the team they just hired him away from was in the same conference. They obviously knew him. When the NFL’s Philadelphia Eagles hired Chip Kelly away from Oregon last year I knew who he was…that doesn’t matter though, because I did not recruit him. Somebody else did.

As we head toward 2014 I want folks reading this to keep in mind that big decisions sometimes require partnership. Sometimes that partnership can be found on the outside.

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