Korn Ferry Profile
Korn Ferry operates as a global organizational consulting company that helps in synchronizing its clients’ strategy, operations, and talent to drive business performance.
For the year ended April 30, 2022, the company partnered with almost 15,000 organizations. Its clients include the world’s largest and most prestigious public and private companies, middle-market and emerging growth companies, and government and nonprofit organizations.
Segments
The company has seven segments that operate through four lines of business: Consulting, Digital, Executive Search, and Recruitment Process Outsourcing (RPO) & Professional Search.
Consulting
This segment aligns organization structure, culture, performance, and people to drive sustainable growth by addressing four fundamental needs: Organization Strategy, Assessment and Succession, Leadership and Professional Development and Total Rewards. This work is supported by a comprehensive range of some of the world’s major intellectual property (IP) and data.
Client Base: For the year ended April 30, 2022, the Consulting segment partnered with over 4,900 clients across the globe. The company’s clients come from the private, public, and not-for-profit sectors, across every major industry and represent diverse business challenges.
Competition: The company’s competitors include consulting organizations affiliated with accounting, insurance, information systems, and strategy consulting firms, such as McKinsey, Willis Towers Watson and Deloitte.
Digital
This segment delivers scalable tech-enabled solutions designed to identify the best structures, roles, capabilities and behaviors to drive businesses forward. The company’s digital products give clients direct access to its proprietary data, client data and analytics to deliver clear insights with the training and tools needed to align organizational structure with business strategy.
Client Base: For the year ended April 30, 2022, the Digital segment partnered with over 8,300 clients across the globe. The company’s clients come from the private, public and not-for-profit sectors, across every major industry and represent diverse business challenges.
Competition: The company competes with specialist suppliers, and boutique and large consulting companies in each solution area, such as AON, Mercer, Willis Towers Watson, SHL, Fuel 50, SkillSoft, Criteria, Predictive Index, Prevue Hire and Textlio.
Executive Search
This segment helps organizations recruit board-level, chief executive, and other senior executive and general management talent to deliver lasting impact. The company’s approach to placing talent brings together its research-based IP, proprietary assessments and behavioral interviewing with the company’s practical experience to determine the ideal organizational fit. Salary benchmarking then builds appropriate frameworks for compensation and retention. This business is managed and reported on a geographic basis and represents four of the company’s reportable segments (Executive Search North America, Executive Search EMEA, Executive Search Asia Pacific and Executive Search Latin America).
Consultants are organized in six broad industry groups and bring an in-depth understanding of the market conditions and strategic management issues clients face within their industries and geographies. In addition, the company regularly look to expand its specialized expertise through internal development and strategic hiring in targeted growth areas.
The company also has organized executive search centers of functional expertise. Members of functional groups are located throughout its regions and across its industry groups. These consultants has extensive backgrounds in placing executives in particular functions, such as board directors, CEOs, and other senior executive officers. Most assignments for the year 2022 were for the company’s Board & CEO Services group, which focuses exclusively on placing CEOs and board directors in organizations worldwide. They are a dedicated team from the most senior ranks of the company. Their work is with CEOs and the boardroom, and their expertise is in organizational leadership and governance. They conduct hundreds of engagements every year, tapping talent from every corner of the globe. This work spans across ranges of corporate scale
Client Base: The company’s more than 4,300 Executive Search engagement clients include many of the world’s largest and most prestigious public and private companies.
Competition: The company’s Executive Search line of business competes with specialist global executive search firms, such as Egon Zehnder; Heidrick & Struggles International, Inc.; Russell Reynolds Associates; and Spencer Stuart. It also competes with smaller boutique firms specializing in regional, industry, or functional searches.
RPO and Professional Search
This segment leverages the power of people, process expertise, IP-enabled technology, and compensation information to deliver enterprise talent acquisition solutions to the company’s clients, at the professional level.
In 2022, the company acquired The Lucas Group, which brings substantial professional search and interim placement expertise to the company and has enhanced its industry-leading search portfolio. It also acquired the Patina Solutions Group, an interim executive search firm that is expected to bring access to a vast network of C-suite, top-tier and professional interim talent.
Client Base: For the year ended April 30, 2022, the RPO & Professional Search segment partnered with more than 3,500 clients across the globe.
Competition: The company primarily compete for RPO business with other global RPO providers, such as Cielo, Alexander Mann Solutions, IBM, Allegis, Kelly Services and Randstad; and professional search assignments with regional contingency and large national retained recruitment firms, such as Robert Half, Michael Page, Harvey Nash, Robert Walters and BTG.
Core Capabilities
The company offers a unique set of capabilities tailored to the new world of work. These offerings cover the entirety of the talent journey, strengthening its work and thinking in the next. The company’s five core capabilities include:
Organizational Strategy: The company maps talent strategy to business strategy, designing operating models and organization structures that help companies put their plans into action.
Assessment and Succession: The company identifies the talent organizations need, compares that to the talent they have, and helps close the gaps.
Talent Acquisition: From executive search to recruitment process outsourcing (RPO), the company helps organizations attract and retain the right people across functions and levels.
Leadership and Professional Development: The company develops leaders along every stage of their career journey with a spectrum of intensive high-touch and scalable high-tech development experiences.
Total Rewards: The company helps organizations pay their people fairly for doing the right things with rewards they value at a cost the organization can afford.
Integrated Solutions
The company delivers differentiated and integrated solutions, bringing together its thinking from across its core capabilities to target specific client challenges:
Cost Optimization: The company works with leaders to manage cost drivers: organization, people and rewards.
Workforce Transformation: The company’s workforce transformation offers practical and pragmatic solutions to support organizations in re-shaping workforces for the future.
Accelerating Revenue Growth: The company combines its technology and methodology to help organizations achieve their top-line growth objectives.
Environmental and Social Governance (ESG): The company’s people-focused approach for clients: ESG factors are high on the agenda for most of its partners. The company has a unique set of capabilities to help organizations manage the issues transforming how it work and live. Its support can help accelerate their transition by taking a people-focused approach to ESG matters.
Diversity, Equity & Inclusion (DE&I): The company helps clients build diverse and inclusive organizations to deliver superior organizational performance through a systematic approach, unlocking the power and potential of their people.
Learning Development (LDO): The company’s LDO solution, leverages its Korn Ferry Advance platform, takes its expertise in leadership coaching and combines it with technology to provide quality coaching at scale across organizations.
The Korn Ferry Intelligence Cloud
Korn Ferry Intelligence Cloud powers the company’s capabilities, integrated solutions and products. With four billion data points, Intelligence Cloud blends its proprietary insight and consultancy with market data and AI-technology to accurately provide insights and actions. Intelligence Cloud is the digital platform that underpins the company’s solutions; helping global organizations advance a talent strategy that results in reduced time to hire, cheaper cost per acquisition, improved mobility and retention and better sales performance.
The Korn Ferry Institute
The Korn Ferry Institute, the company’s research and analytics arm, develops research, IP, and analytics that enable the company’s employees to partner with people and organizations to activate their potential and succeed.
Strategy
The key elements of the company’s strategy are to drive a one Korn Ferry go-to-market strategy; create the top-of-mind brand in organizational consulting; deliver client excellence and innovation; advance Korn Ferry as a premier career destination; and pursue transformational mergers and acquisitions (M&A) opportunities at the intersection of talent and strategy.
History
Korn Ferry was founded in 1969. It was formerly known as Korn/Ferry International and changed its name to Korn Ferry in January 2019.
