Russell Reynolds Associates Forms Partnership to Gain Assessment Services
The Hunt Scanlon article, “Russell Reynolds Associates Forms Partnership to Gain Assessment Services” featured the news about the firm's partnership with Hogan Assessments to advance the science of executive assessment. The article also quoted Russell Reynolds Associates CEO Clarke Murphy about the need for innovation in the executive assessment space. The article is excerpted below.
Executive search firm Russell Reynolds Associates and Hogan Assessments, a global provider of personality assessment and leadership development, have formed a partnership designed to increase the success rate of executive appointments and accelerate the development of rising leaders.
The alliance combines Russell Reynolds’ depth of expertise in advising senior executives and boards on executive search and succession planning with Hogan’s suite of assessment instruments, data assets and scientific acumen.
The firms will work together on a range of initiatives designed to drive C-suite performance, with an initial emphasis on creating a new, co-branded assessment approach designed to predict executive performance in C-level roles.
A Move to Accelerate Innovation
“The cost of betting on the wrong leader has never been higher,” said Clarke Murphy, chief executive officer of Russell Reynolds Associates. “That said, innovation in the executive assessment space has not kept pace with the rate of change confronting senior executives. We are excited to partner with Hogan to accelerate innovation and deploy new assessments that dramatically increase the success rates of executive selection and succession decisions.”
Mr. Murphy said the initial stage of working with Hogan will be “sharply focused” on the creation of an assessment approach that is purpose-built to predict success (both short- and long-term) in senior executive roles. “For decision-makers, ‘increasing predictability’ really means ‘reducing risk,'” he said. “The risk associated with executive selection and hiring has always been high. But, as executive roles have become more complex, the risk of making the wrong hiring decision has increased meaningfully.”
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