Why ‘Lone Wolf’ Recruiting Firms Fail and Team-Based Recruiting Wins

by Eric Walczykowski | Nov 7, 2024 | Blog, Recruiting Best Practices

Why ‘Lone Wolf’ Recruiting Firms Fail and Team-Based Recruiting Wins

Authored By Eric Walczykowski, Adam Boone

Most executive search firms follow a basic organizational structure that is more than a century old. But this old school model produces the worst possible results for clients.

It effectively makes each partner and their supporting organization into a separate entity, a “Lone Wolf” competing with others in the firm for new business, resources and search capacity.

A new model is completely changing the game with teamwork and collaboration.

Let’s explore how this innovative structure yields better search outcomes in a shorter timeframe.

And spoiler alert: it’s why Bespoke Partners is called in to solve search after search where other firms have failed.

Part 6:

The New Recruiting Best Practices Blog Series

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TODAY:

How Innovative Structure Yields Better Search Outcomes

Silos Drive Traditional Search

The traditional executive search firm features the same basic organizational strategy that was the hallmark of other professional services. It’s a model that has been around since professional services partnerships emerged more than 100 years ago during the era of industrialization.

A partner in the firm will have associates, recruiters and other professionals to execute on searches attached to them in what is basically a silo. Each partner’s siloed organization then needs to address most of the aspects of the business on its own.

They need to conduct business development and new business origination for their silo. They need to orchestrate pitching and landing searches. They need to conduct candidate research and recruiting and ultimately work the searches to conclusion.

The result? Each partner is effectively a “Lone Wolf” driving their own book of business and competing with the others for search work and resources.

There may be a certain amount of sharing of new business among silos and some level of collaboration on certain searches. But partners are not incented to behave that way overall and it happens rarely.

Why Lone Wolf Silos Hurt Client Outcomes

Firms structured in the siloed, Lone Wolf way won’t tell you this, but their model produces drastically worse results for clients.

That’s because when you sign with them for a search, you effectively are getting only the attention, skills and network resources of a tiny slice of the firm.

So you might have signed with a massive SHREK search firm, but the reality is that your search will be executed by a handful of people attached to the partner booking the search. You might as well have signed with a lone independent recruiter because that is the scope of service capability and capacity you will get.

You will see only a small portion of the talent market for the role you want to fill. You will be dependent on the reputation and recruiting capabilities of only one or two people. Your search will be competing for attention with a huge number of other searches, because partners are incented to keep booking new searches as fast as they can and their silos are scrambling and overcommitted.

The results are drastically worse than they should be. Searches take too long if they are solved at all. You will access only a tiny portion of the potential talent pool. A fraction of desirable candidates will engage. Your search gets a tiny sliver of attention from a tiny sliver of the search firm.

This approach is seriously broken. But it has given rise to a new breed of search firm that is organized an entirely different way.

Eliminating Lone Wolf Siloes

At Bespoke Partners, we’ve created a structure and culture that fosters collaboration over competition by eliminating the “Lone Wolf” silos. This approach features focus, specialization, and compensation designed to encourage teamwork and collective success.

The result are vastly superior outcomes for clients, who gain access to the broadest possible talent pools and searches that are solved in the shortest amount of time.

The key aspects of this model include:

Focus on Specialization

Our partners are specialists in their functional areas, whether it’s go-to-market, product, or financial leadership. This focus ensures that each partner is deeply knowledgeable in their domain and doesn’t attempt to handle searches outside their expertise. You won’t see our go-to-market partner trying to sell you on executing a finance search—because that’s not how we operate.

Aligned Incentives

Our compensation model rewards partners and teams for delivering successful search outcomes, not for competing against each other for new business or for resources. This alignment of incentives means that everyone at Bespoke is working towards the same goal: getting it right for the client. When our clients succeed, our partners succeed, creating a win-win situation that drives collaboration across the firm.

Leveraging Collective Expertise

Our team-based approach allows us to bring the full weight of our firm’s expertise to every search. Partners and teams regularly collaborate, sharing insights and knowledge to ensure that every angle is covered, and every opportunity is explored.

Access to the Full Talent Pool

Our model combines all of our networks of executives into a unified whole, captured in our talent tracking platform of more than 600,000 high impact executives. This means every client gets unparalleled visibility into the universe of candidates who can be evaluated for a given role. No one can give you better access to the complete talent market.

How Our Model Beats the Lone Wolf Every Time

Tailored Solutions

Because our professionals are deeply specialized, they can provide tailored solutions that are precisely aligned to your needs. This level of customization leads to better fit, faster placements, and higher satisfaction for both clients and candidates.

Full visibility

You have visibility into the full talent market for every search, not the tiny slice known to a single partner.

Full Access

You have access to candidates based on all of our team’s reputation and relationships. This is why we have an 83% executive conversion rate. The best candidates take our calls and know we won’t waste their time. Your company is represented by a brand and professionals that candidates trust.

Devoted Recruiters

You get intensive attention on your search. Our recruiters are capped at 6 searches which means they will devote time and focus on your search and its nuances.

collective expertise

Our structured, collaborative approach is why we consistently achieve a 95% success rate and complete searches in an average of 95 days. By ensuring that the most qualified people are working on each search, we deliver results that are both reliable and exceptional. Our clients benefit from a collective expertise that’s unmatched in the executive search world.

These results are why Bespoke is brought in so often to solve the searches that other firms have failed to close.

Ready to leave behind the world of the Lone Wolf search firms?

Get in touch today to witness the power of the collaborative team structure.

Bespoke Partners Named in Top 10 of the “Top 49 Retained Executive Search” 2-Years Running by C-Suite CV Secure.

top 49 search firms 2 years in a row - bespoke partners

Author:
Eric Walczykowski
Chief Executive Officer

Eric is passionate about building high-performing teams that value doing their best, working together, overcoming adversity and learning.

As a proven growth executive, Eric has served as CEO, President, Board Member, Investor and Advisor for technology companies that achieved over $4.5B in successful exits.

Eric brings to Bespoke Partners significant professional services experience from Deloitte and Andersen, as well as the high-growth client executive perspective for private equity-backed technology companies.

Eric earned an MBA from the Kellogg School of Management at Northwestern University and a BS in Business from Fresno State University.

Author:
Adam Boone
Chief Marketing Officer

Boone has led marketing, demand generation, branding, product management, services marketing, or alliances marketing programs for numerous successful companies including Avaya-acquisition Sipera, Sequoia start-up Syndesis, Subex, CoManage, and others. He has driven joint marketing programs and go-to-market initiatives with iconic industry leaders including Microsoft, IBM, GE, AT&T, Oracle, Comcast, Cisco, Ciena and Samsung.

Boone holds an MBA in Business Strategy from the WP Carey School of Business at Arizona State University and completed the Competitive Marketing Strategy Program at the Wharton School at the University of Pennsylvania.

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Did Your Recruiter ‘Quiet Quit?’ How Typical Fee Structures Incentivize Search Failure

by Eric Walczykowski | Oct 24, 2024 | Blog, Recruiting Best Practices

Did Your Recruiter ‘Quiet Quit?’ How Typical Fee Structures Incentivize Search Failure

Authored By Eric Walczykowski

It happens again and again. Our firm is brought in to take over an executive recruiting project from another firm. The search is months old but has stalled out with no successful conclusion.

The reason is simple. Typical retained search fee structures do not hold recruiting firms accountable for results. They “quiet quit” because there is no incentive to solve tough searches.

In the world of executive search, the alignment of incentives between the search firm and the client is crucial. Typical firm fees are 100% retained, meaning the full fee is due after a period of time without any required outcomes.

We think this is a mistake. At Bespoke Partners, we’ve designed our fee and compensation structure to ensure that our success is directly tied to yours.

Unlike the traditional models prevalent in the industry, our approach puts your needs first, ensuring that our partners and teams are fully committed to delivering results. In this post, I’ll break down how our unique fee structure and partner compensation model drive superior outcomes for our clients.

Part 5:

The New Recruiting Best Practices Blog Series

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TODAY:

How Search Fees Incentivize Search Failure

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UP NEXT:

How Bespoke’s Team-Based Approach Delivers Exceptional Search Outcomes

Quiet Quitting & the 100% Retainer

Most executive search firms operate on a 100% retained model, where the full fee is paid in three installments within the first 60 days—regardless of whether the search is successfully completed.

This model can lead to disengagement after the fee is fully paid, as there’s no further financial incentive to push for a successful outcome.

In effect, these firms will quiet quit and continue to provide updates on what seems like progress in the search. But in fact the team on your search has moved on and is not really expending any effort on finding new candidates for you.

Success Fee: Skin in the Game

At Bespoke Partners, we structure our fees in a way that aligns our incentives with those of our clients. Our model is simple yet powerful: 70% of the fee is retained, while the remaining 30% is contingent upon the successful completion of the search. This structure ensures that we’re as invested in the outcome as you are.

We have skin in the game, and are motivated to drive your searches to successful conclusions every time.

How Our Fee Structure Works

Retained Portion:

The retained portion of our fee—70%—is paid in three equal installments: on day 1, day 30, and day 60 of the search. This phased approach ensures that we are continually incentivized to push forward and deliver results, not just at the start of the engagement but throughout the process.

Success Portion:

The remaining 30% of our fee is paid only upon the successful completion of the search. This means that we don’t just get paid to start the search; we get paid to finish it successfully.

Our 70/30 model ensures that we never quiet quit. We’re fully committed to seeing the search through to a successful conclusion because your success is our success.

Partner Compensation Focused on Search Success

The way we compensate our partners is another key differentiator at Bespoke Partners. Unlike traditional firms, where partners are often incentivized to sell engagements rather than solve them, our partners are paid solely to execute your search. This focus on execution is what drives our industry-leading results.

How Our Partners are Compensated

Execution-Driven Pay

At Bespoke, our partners are compensated only for executing searches. They don’t get paid unless they deliver results, which means their full attention and effort are devoted to solving your search.

Contrast with Competitors

At many other firms, up to 60% of a partner’s compensation is tied to selling the search—30% for originating the engagement and another 30% for closing the engagement letter. This means that before a search even begins, a significant portion of the fee has already been earned, leaving just 40% of the incentive tied to actually solving the search.

The Impact on Search Quality

Focus on Results

Because our partners are paid to execute, not to sell, their focus is entirely on delivering the best possible outcome for the client. This model ensures that every search receives the full weight of our expertise and resources, leading to better results.

Why it Matters

The traditional model can lead to a disconnect between the client’s needs and the firm’s priorities. By contrast, Bespoke’s model ensures that our priorities are always aligned with yours, leading to a higher success rate and faster time to close.

At Bespoke Partners, our unique fee and compensation structure isn’t just a business strategy—it’s a commitment to our clients.

By aligning our incentives with yours, we ensure that our partners and teams are fully focused on delivering the results you need. This is why we boast a 95% success rate, an average of 95 days to close a search, and an 83% executive conversion rate—nearly double the industry average.

In our next post, we’ll explore how our team-based approach and collaboration further enhance our ability to deliver exceptional search outcomes. Stay tuned to learn more about how our entire firm works together to solve your most challenging executive searches.

Bespoke Partners Named in Top 10 of the “Top 49 Retained Executive Search” 2-Years Running by C-Suite CV Secure.

Author:
Eric Walczykowski
Chief Executive Officer

Eric is passionate about building high-performing teams that value doing their best, working together, overcoming adversity and learning.

As a proven growth executive, Eric has served as CEO, President, Board Member, Investor and Advisor for technology companies that achieved over $4.5B in successful exits.

Eric earned an MBA from the Kellogg School of Management at Northwestern University and a BS in Business from Fresno State University.

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Recruiting Best Practices: Back-Channeling Provides Comprehensive Executive Vetting

by Eric Walczykowski | Oct 8, 2024 | Blog, Recruiting Best Practices

Recruiting Best Practices: Back-Channeling Provides Comprehensive Executive Vetting

Authored By Eric Walczykowski

Back-channeling is a reference technique that sparks controversy. But it is absolutely essential when you are hiring mission-critical senior executives.

This is especially true in the private equity sector, where a mis-hire can derail value creation and put the investment thesis at risk.

For private equity firms, getting the right executive in place is non-negotiable, and back-channeling plays a crucial role in ensuring that the person who interviews well is also the right person to show up for work.

Part 4:

The New Recruiting Best Practices Blog Series

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Back-Channeling for Comprehensive Vetting

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Recruiting Firm Fees & Search Outcomes

Back-Channel Early and Often

Back-channeling goes beyond the resume and the interview. It’s talking to people who worked with executives at previous companies but who the candidate has not named as formal references.

It’s about digging deeper to understand who a candidate really is—how they work, what they contribute, and whether their cultural ethos aligns with the company they’re being hired to lead.

At Bespoke Partners, we don’t just dabble in back-channeling; we’ve turned it into an art form, running an average of eight back-channels per candidate to validate their fit for the role.

Why Back-Channeling Matters

Beyond the Resume:

Resumes and interviews only tell part of the story. A candidate might present well in a formal setting, but it’s through back-channeling that we can verify their true impact, leadership style, and how they interact with others in the workplace.

Ensuring Cultural Fit:

Cultural fit is as important as technical expertise, especially in leadership roles. Back-channeling helps us confirm that the culture and ethos a candidate projects in an interview match what they’ve demonstrated in previous roles.

Validating Contributions:

It’s not enough for a candidate to claim success; back-channeling allows us to verify that their contributions were real and significant. This step is crucial in ensuring that the person we place can genuinely deliver on what they promise.

How Bespoke Partners Employs Back-Channeling



Comprehensive
Checks

We typically run eight back-channels for each candidate. These are in-depth conversations with people the candidate has worked with in the past—peers, subordinates, and even clients. We expect at least one of these to be controversial or negative, which is to be expected when someone has been in leadership and has had to make tough decisions.



Proactive Issue
Management

When a back-channel raises concerns, we don’t shy away from it. Instead, we use this information to guide further discussions with the candidate and the client, ensuring that any potential issues are fully explored before a decision is made.



Building Trust

For both companies and candidates, back-channeling is an opportunity to build trust. It ensures that by the time an offer is made, both parties are confident in the fit, preventing late-stage surprises that could derail the process.

Examples of Back-Channeling in Action

Validating Leadership Style

In one search, back-channeling revealed that a candidate who presented as a collaborative leader had, in fact, clashed with their previous team. This insight allowed us to have a candid discussion with the candidate, ultimately leading to a mutual decision that the role wasn’t the right fit.

Confirming Cultural Alignment

For another client, back-channeling confirmed that a candidate who seemed like a perfect fit on paper had consistently fostered a positive, inclusive culture in their previous roles, leading to a successful placement that has since driven significant growth for the company.

At Bespoke Partners, back-channeling isn’t just a box to tick—it’s a critical component of our process that ensures we get it right.

By back-channeling early and often, we’re able to confirm that the candidates we present are not only qualified on paper but are also the right fit for the company’s culture and strategic goals. This meticulous attention to detail is why our placements have a 95% success rate, with executives staying in their roles for at least two years.

Bespoke Partners Named in Top 10 of the “Top 49 Retained Executive Search” 2-Years Running by C-Suite CV Secure.

Author:
Eric Walczykowski
Chief Executive Officer

Eric is passionate about building high-performing teams that value doing their best, working together, overcoming adversity and learning.

As a proven growth executive, Eric has served as CEO, President, Board Member, Investor and Advisor for technology companies that achieved over $4.5B in successful exits.

Eric earned an MBA from the Kellogg School of Management at Northwestern University and a BS in Business from Fresno State University.

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Precision in Search: How Data-Driven, Top-Down Executive Search Approach Redefines Recruiting

by Eric Walczykowski | Sep 26, 2024 | Blog, Recruiting Best Practices

Precision in Search: How Data-Driven, Top-Down Executive Search Approach Redefines Recruiting

Authored By Eric Walczykowski

When I first entered the executive search industry, I was struck by how the process was typically handled—a bottom-up approach that relied heavily on networks and gut feelings.

Recruiters would start with a small pool of known executives, build a scorecard, and then see who might fit.

But I believed there was a better way.

What if we started from the top down, with the entire universe of possible executives, and used data to filter down to the ideal candidate?

Part 3:

The New Recruiting Best Practices Blog Series

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TODAY:

Data-Driven, Top-Down Search

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The Art of Back-Channeling

This vision became the foundation of Bespoke Partners’ data-driven, top-down search methodology, a strategy that has propelled us to become the premier software executive search firm in North America.

This process is why we boast a 95% success rate, an average of 95 days to close a search, and an 82% executive conversion rate.

The Indexed Universe: 610,000 North American Software Executives

When I began at Bespoke, we had a network of just 11,000 software executives. Today, that number has grown to over 610,000. We’ve indexed the industry, creating a proprietary database that covers nearly every software executive in North America.

This comprehensive database allows us to take a top-down approach to search—starting with the universe of possible candidates and filtering down based on real-time data against the scorecard we develop with our clients.

The Power of a Top-Down Approach

Comprehensive Search:

By beginning with the full universe of 610,000 software executives, we ensure that no potential candidate is overlooked. This method allows us to fully understand the trade-offs in real-time, giving our clients the confidence that they’re making the best possible decision.

Data-Driven Decisions:

Our process isn’t just about gut feelings—it’s about data. For instance, we’ve had clients who needed a proven executive within a specific subsector located in a city with a limited number of private equity-backed software companies. Our data-driven approach allowed us to show the client exactly how many candidates fit their criteria, enabling them to make an informed decision to prioritize geography or consider a step-up candidate.

Case Studies

Geo Flexibility with Data

In one search, we identified a CFO candidate with a second home in the defined geographic area, solving a challenging search requirement.

Proprietary Airline Mapper

For another client with strict geographic requirements, we leveraged our proprietary airline mapper to identify candidates within a one-hour direct flight to the headquarters, ultimately filling the position with a perfect fit.

Documented and Consistent Search Process

At Bespoke, our search process is not only top-down and data-driven, but it’s also meticulously documented and consistent across all functional areas. Regardless of the function—be it finance, technology, or go-to-market leadership—our partners adhere to the same rigorous process. This consistency is key to our success and is why our clients trust us to deliver results across the board.

Why Consistency Matters

Advanced Scorecarding:

We start every search by developing a detailed scorecard with our clients, ensuring that we clearly understand the value creation levers for the role. This scorecard is then used to filter the universe of 610,000 executives, narrowing down to the best possible candidates.

Uniform Process Across Functions:

All of our partners are trained to follow the same proprietary process, ensuring that no matter who you work with at Bespoke, you receive the same high level of service and expertise.

No Surprises:

After identifying top candidates, we begin introductions and back-channel early to ensure that the candidates we present are exactly who they appear to be, minimizing the risk of surprises later in the process.

Bespoke Partners’ top-down, data-driven approach is more than just a method—it’s a revolution in how executive search should be done.

By starting with the full universe of candidates and using data to make informed decisions, we deliver results that are unmatched in the industry.

Bespoke Partners Named in Top 10 of the “Top 49 Retained Executive Search” 2-Years Running by C-Suite CV Secure.

Author:
Eric Walczykowski
Chief Executive Officer

Eric is passionate about building high-performing teams that value doing their best, working together, overcoming adversity and learning.

As a proven growth executive, Eric has served as CEO, President, Board Member, Investor and Advisor for technology companies that achieved over $4.5B in successful exits.

Eric earned an MBA from the Kellogg School of Management at Northwestern University and a BS in Business from Fresno State University.

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How Old School Generalist Recruiters Create Talent Market Blind Spots, Cut Recruiting Effectiveness

by Eric Walczykowski, Adam Boone | Sep 17, 2024 | Blog, Recruiting Best Practices

How Old School Generalist Recruiters Create Talent Market Blind Spots, Cut Recruiting Effectiveness

Authored By Eric Walczykowski, Adam Boone

You wouldn’t go to your general practitioner doctor for brain surgery. So why do some companies hire non-specialized recruiters to perform searches for mission-critical leadership roles?

In fact, relying on an old-school generalist recruiter has a profound impact on the duration of a search and the quality of the outcomes.

Part 2:

The New Recruiting Best Practices Blog Series

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TODAY:

How Functionally Specialized Firms Outperform

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How Data-Driven Search Processes Produce Faster, Better Results

The choice is between search firms with partners who specialize in particular roles and those whose partners will try to recruit for any role at all.

Even a cursory look at the metrics shows that one approach is dramatically better than the other for high-stakes searches.

What is Functional Specialization?

Just like medical professionals specialize in particular types of medicine or surgical techniques, executive recruiters can specialize in certain types of searches.

Simply put, a functionally specialized firm orients its partners and their recruiters to go deep on one of five specific functional roles: CEO and P&L leadership; finance leadership; go-to-market (GTM) leadership such as sales and marketing; technology leaders; and human capital leadership.

These five categories of leaders cover all the primary functions in a viable company.

In contrast, the partner in a traditionally organized search firm will chase anything that moves. Today, she might be recruiting a CEO. Tomorrow it might be a CRO. The next day? A CFO.

So just like you would not want your family doctor to perform delicate brain surgery, why would you want that generalist search firm to look for executives who are central to your company’s wellbeing and success?

Partners Focus on One Functional Area

At Bespoke Partners, our strategy is simple yet powerful: every partner focuses exclusively on one functional area. Whether it’s a CEO, CTO, CFO, or any other C-suite position, our partners dedicate their careers to mastering the nuances and intricacies of their chosen domain.

Here is what that specialization means for clients:

Deep Expertise:

Our CFO recruiters, for instance, don’t just know CFOs—they know them on a personal They understand when a CFO is ready to make a move and what factors will motivate them to take on a new challenge. This depth of knowledge is not something you get from a generalist recruiter.

Every Conversation Counts:

Each interaction our partners have builds on previous ones, allowing them to solve your search in record time. They don’t dabble in their functional areas; they know them This includes not only understanding the value creation levers for a role but also knowing what those levers mean in the context of a specific company’s strategy.

The Best Candidates Know Us:

Because we know the functional areas better than any other firm, candidates know we will not waste their time with roles that are not a fit.

That’s why the vast majority will take our calls every time.

In contrast, the generalist search firm’s view of and access to the market will be based mostly on luck.

Ask these questions if you are considering a generalist firm:

How extensive is the recruiter’s network in the space?

Or were they lucky enough to have recent contact with a relevant candidate?

Does the recruiter really understand the essential nuances of the role?

When the recruiter presents your company, will the candidate be impressed with the detailed understanding of the functional area?

Will the talent market view you get from this recruiter reflect the true state of the market,

or are you limited by the recruiter’s own “blind spots” and limited experience in that functional area?

The Numbers Tell the Tale

Results:

Our newest practice, we have placed 100 HR executives with an average DTC of These executives have taken part in 7 exits and have been part of generating $4.8 billion in enterprise value.

Team-Based Approach and Collaboration

Functional specialization isn’t just about individual expertise; it’s also about collaboration. Our partners work together to leverage their collective knowledge for the benefit of our clients. This team-based approach ensures that each search is informed by the insights and experiences of our entire firm, not just one individual.

Referral System:

Each partner refers work to the partner best qualified to handle the job, ensuring that clients receive the highest level of service possible.

Weekly Functional Team Meetings:

Our functional teams meet weekly to discuss active searches, share ideas, and exchange knowledge about the function and its key

Weight of the Firm:

By pooling resources and expertise, our team-based approach allows us to bring the full weight of Bespoke Partners to every search, rather than relying on the capabilities of a single recruiter.

THE IMPACT OF
FUNCTIONAL SPECIALIZATION

95% Success Rate:

Executives placed by Bespoke Partners have a 95% success rate of staying in their roles for at least two years, double the industry average.

95 Days to Close:

On average, our searches are completed in 95 days, half the industry average.

82% Conversion Rate:

Our executive conversion rate is 82%, nearly double the industry average.

Our functional specialization isn’t just a strategy—it’s a proven approach that consistently delivers better outcomes for our clients.

By focusing on specific functional areas, our partners bring deep expertise and unparalleled efficiency to every search.

So why settle for generalists when you can work with specialists who know the industry cold? Get in touch today to discuss how we can solve your critical leadership searches.

Bespoke Partners Named in Top 10 of the “Top 49 Retained Executive Search” 2-Years Running by C-Suite CV Secure.

Author:
Eric Walczykowski
Chief Executive Officer

Eric is passionate about building high-performing teams that value doing their best, working together, overcoming adversity and learning.

As a proven growth executive, Eric has served as CEO, President, Board Member, Investor and Advisor for technology companies that achieved over $4.5B in successful exits.

Eric earned an MBA from the Kellogg School of Management at Northwestern University and a BS in Business from Fresno State University.

Author:

Adam Boone
Chief Marketing Officer

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‘Software is Eating the World’ And Most Search Firms Are What’s For Dinner

by Eric Walczykowski, Adam Boone | Sep 12, 2024 | Blog, Recruiting Best Practices

‘Software is Eating the World’ And Most Search Firms Are What’s For Dinner

Authored By Eric Walczykowski, Adam Boone

“Why Software is Eating the World” was the title of a legendary blog posting by tech industry icon Marc Andreessen.

The co-founder of Netscape and venture capital firm Andreessen Horowitz (A16z) was beyond prescient when he wrote that 13 years ago.

The same year is when Kristie Nova founded our firm, Bespoke Partners, with our unique exclusive focus on executive recruiting for software and SaaS companies.

Part 1:

The New Recruiting Best Practices Blog Series

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TODAY:

Sector Focus Drives Better Outcomes in Software

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UP NEXT:

How Function Specialist Firms Outperform

And today, as software and SaaS companies reach new levels of transformational innovation generating trillions of dollars in value, one part of the world that has been profoundly changed is the world of executive search.

If you are working with a generic, jack-of-all-trades recruiting firm that focuses on any industry, you are setting yourself up for slower searches with worse outcomes. Simply put, these firms don’t have the expertise to understand the sector or the clock speed to deliver at the industry’s pace.

Software Eats the World

In the years since Marc’s statement, the software and SaaS markets have experienced tremendous growth and transformation, reshaping industries and business models across the globe.

The SaaS model became a dominant force, offering scalable, cloud-based solutions that eliminated the need for costly IT infrastructure. Companies like Salesforce and Adobe led the charge, with Salesforce seeing its revenue grow from $2.27 billion in 2012 to over $31 billion in 2023, reflecting the increasing reliance on SaaS platforms by enterprises worldwide(Mattermark, McKinsey & Company).

This shift wasn’t limited to tech companies; traditional industries, from finance to healthcare, have been deeply transformed by software and SaaS. For example, a JPMorgan Chase executive described her firm as a technology company that happens to hold a banking license, emphasizing how integral software has become to its operations (CHM).

Today, the ongoing evolution of AI and machine learning has further accelerated this transformation of all the world’s companies, large and small.

And Talent Is Driving

In years past, private equity investors relied on proprietary deal flow and financial engineering to create value and achieve an investment thesis.

Today, it is universally understood that leadership talent is the overriding factor for creating outsized returns.

Since Kristie founded Bespoke Partners, we have exclusively targeted the software executive market, a decision that has been fundamental to our success.

Why software? The answer lies in the complexity and rapid evolution of the software industry, where success is driven by a unique set of skills and experiences that are not easily transferrable from other industries.

By focusing solely on software, we have developed a deep understanding of the industry’s dynamics, from the specific challenges faced by different software subsectors to the strategic initiatives that drive growth.

Where the Generalist Firms Fail

Most executive search firms are generalists and are willing to take on any senior executive search regardless of industry. This is why time and again we are brought in by clients where searches have stalled or failed to produce any meaningful results even after many months.

It’s our specialization in software that enables us to deliver better candidates faster than these old school firms. Specifically:

For Clients:

Our software specialization ensures that we can quickly identify and engage with top talent who are not only qualified but are also the perfect cultural fit for the organization. Our deep industry knowledge allows us to anticipate market trends and recommend executives who can lead companies through periods of rapid change and growth.

For Candidates:

Executives know that when Bespoke calls, it’s because we have a genuine opportunity that aligns with their expertise and career aspirations. This reputation has led to an 82% executive conversion rate—meaning that when we reach out to potential candidates, they answer the call. This conversion rate far exceeds the industry norm and is how our clients get the most comprehensive and accurate view of the software and SaaS talent market.

Talent Coverage Across Software Sub-Sectors

Bespoke Partners doesn’t just focus on software as a whole; we actively cover 27 software subsectors, ranging from the hottest early growth areas to buyout segments. This extensive coverage allows us to not only serve these sectors but also play a critical role in shaping them.

Our analysts study companies, transactions, and key executives within these subsectors, providing us with the insights needed to understand who the key players are, who’s available, and who might be a good step-up candidate for a role.

SECTORS WE COVER

Fintech

Martech & Adtech

Infrastructure

Cybersecurity

Healthtech

AI / ML

Retail

GRC

HRtech

Marketplace

Real Estate

Supply Chain

CRM / CX

BI / Analytics

Edtech

Insurtech

Mobility

Entertainment & Recreation

Blockchain & Web3

Manufacturing & Industrials

Utilities

Legal

Govtech

Hospitality & Travel

Non-Profit

ERP

IoT Software

We are trusted advisors not just during the search process but often as early as the LOI phase, where sponsors consult with us on talent strategy before making an investment. Our ability to identify and place the right executives, often those who are a step up from their current roles, has made us an indispensable partner in the success of our clients.

THE INDUSTRY LEADER IN SOFTWARE TALENT

Bespoke’s performance for software and SaaS companies across 27 subsectors:

95%

placement success rate – our leaders stay in seat at least 1 year post placement

400+

sofware companies transformed

425+

exits and M&A transactions by our software company

$135B+

enterprise value created

Bespoke Partners’ singular focus on software executive search is not just a strategy—it’s a proven formula for success.

Our deep industry expertise, combined with our comprehensive coverage of 27 software subsectors, allows us to deliver results that are unmatched in the industry. Whether you’re looking to fill a critical leadership position or need strategic advice on your talent acquisition, Bespoke Partners is uniquely positioned to deliver

Bespoke Partners Named in Top 10 of the “Top 49 Retained Executive Search” 2-Years Running by C-Suite CV Secure.

Author:
Eric Walczykowski
Chief Executive Officer

Eric is passionate about building high-performing teams that value doing their best, working together, overcoming adversity and learning.

As a proven growth executive, Eric has served as CEO, President, Board Member, Investor and Advisor for technology companies that achieved over $4.5B in successful exits.

Eric earned an MBA from the Kellogg School of Management at Northwestern University and a BS in Business from Fresno State University.

Outside of work, Eric enjoys spending time with family, coaching baseball, travel, attending live events and sipping good wine.

Author:

Adam Boone
Chief Marketing Officer

In his personal time, Boone enjoys travel, fine food and wine, mountain biking, playing and listening to music, and movies.

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