Heidrick & Struggles Accelerates the Future of Work by Acquiring Business Talent Group
PR88860
CHICAGO and LOS ANGELES, April 6, 2021 /PRNewswire=KYODO JBN/ --
-- Addition of BTG, pioneer of the high-end independent talent
marketplace, establishes Heidrick & Struggles as a market leader
in the growing on-demand executive and project-based talent space
-- Acquisition consistent with Heidrick & Struggles' long-term
growth initiative to expand its leadership solutions and capabilities
to address new and ongoing client imperatives
Heidrick & Struggles (
) (Nasdaq: HSII) today announced it has closed the acquisition of Business
Talent Group (
) (BTG), a leading marketplace for high-end independent talent on demand. With
this acquisition, Heidrick & Struggles becomes the first global leadership
advisory firm to offer the full spectrum of executive and high-end talent
solutions – from on-demand, independent professionals to interim executives to
permanent placements – together with its consulting services.
The addition of BTG complements Heidrick & Struggles' strategic growth
initiative to expand its suite of executive talent solutions to address new and
ongoing client demands and builds on a successful two-year exclusive
collaboration with BTG that began in 2019. BTG will continue to be led by
Co-Founders and Co-CEOs, Jody Greenstone Miller and Amelia Tyagi, and operate
as a wholly owned subsidiary of Heidrick & Struggles.
Krishnan Rajagopalan, President and CEO, Heidrick & Struggles, stated,
"Heidrick & Struggles was a forerunner of the executive search industry when
the firm was founded more than 65 years ago. The seismic changes over the past
year have accelerated the future of work and underscored the importance of
agile leaders and workforces. We are excited to be the first global leadership
advisory firm to enter the on-demand, independent talent space and partner with
BTG, a leader and pioneer of the high-end independent talent marketplace."
Rajagopalan continued, "The high-end independent talent market continues to
grow, and that growth will only increase as demand for speed, agility and
flexibility in closing critical leadership gaps rises. Our two-year
collaboration with BTG served as a highly successful proof of concept for the
on-demand, independent model at the executive level. By combining our premier
global executive search capabilities with BTG's unmatched on-demand marketplace
for independent professionals, we are uniquely positioned to fulfill all of our
clients' talent needs, whether it is an immediate project-based role or a
permanent placement."
Jody Greenstone Miller, Co-Founder and Co-CEO, BTG, said, "Heidrick & Struggles
is a true innovator and visionary in its recognition of how the rising use of
independent talent, particularly at the executive level, and the paradigm shift
in attitudes toward on-demand and remote work are benefitting clients and
talent alike. Companies increasingly recognize that they need to tap on-demand,
independent talent for essential project-based assignments, a trend which the
pandemic has advanced."
Miller added, "Heidrick & Struggles' executive search capabilities combined
with our on-demand, independent talent marketplace brings the future of work to
companies right now. Blending the capabilities of a respected global leader in
executive search with BTG's on-demand, independent talent marketplace will
boost BTG's ability to scale globally and create exciting new opportunities for
both BTG's and Heidrick & Struggles' clients. BTG looks forward to continuing
to bring this new human capital infrastructure to a broader group of clients to
help them get complex, mission-critical work done, while also giving top
business professionals – who increasingly are choosing to work independently –
access to more great projects."
BTG will continue to provide clients seamless on-demand access to top
independent talent, including professionals with deep industry and functional
expertise for interim leadership roles and critical, project-based initiatives,
such as performing a market assessment, developing an ecommerce strategy,
standing up a PPE supply chain or placing an interim CHRO to prepare for an
IPO. BTG's marketplace and unique model deliver the right independent talent on
demand by blending proprietary data and technology – including the private and
confidential First Look (R) project-bidding platform that ensures the most
efficient pricing – with a dedicated Talent Solutions team.
BTG's fourth annual High-End Independent Talent Report (
) underscores how leading companies are turning to independent professionals to
fill critical skill, expertise and leadership gaps for a range of specialized
mission-critical projects. In particular, the report shows the use of
independent talent increasing at senior levels with nearly 69% of all requests
coming from VPs and above, including 30% from the C-suite, an increase of 67%
year over year.
Terms of the transaction were not disclosed.
About Heidrick & Struggles
Heidrick & Struggles (Nasdaq: HSII) is a premier provider of global leadership
advisory and on-demand talent solutions, serving the senior-level talent and
consulting needs of the world's top organizations. In our role as trusted
leadership advisors, we partner with our clients to develop future-ready
leaders and organizations, bringing together our services and offerings in
executive search, diversity and inclusion, leadership assessment and
development, organization and team acceleration, culture shaping and on-demand,
independent talent solutions. Heidrick & Struggles pioneered the profession of
executive search more than 65 years ago. Today, the firm provides integrated
talent and human capital solutions to help our clients change the world, one
leadership team at a time.(R) www.heidrick.com
About Business Talent Group
Business Talent Group (BTG) is the leading talent platform that connects top
independent consultants, subject matter experts, project managers and interim
executives with the world's best companies. BTG's marketplace and unique model
provide just the right on-demand talent needed: remote or on-site, part-time or
full-time, individuals or teams, all around the world. More than 50% of the
Fortune 100 trust BTG to curate, vet and deliver legally compliant talent who
fuel growth, innovation and performance improvement. For more information,
visit businesstalentgroup.com (
) and join the conversation on Twitter (
) and LinkedIn (
).
Forward-Looking Statements
Certain statements in this press release are forward-looking statements,
including, without limitation, the statements made concerning the proposed
transaction, and are made pursuant to the safe-harbor provisions of the Private
Securities Litigation Reform Act of 1995. In some cases, you can identify
forward-looking statements by the following words: "may," "will," "could,"
"would," "should," "expect," "intend," "plan," "anticipate," "believe,"
"estimate," "predict," "project," "aim," "potential," "continue," "ongoing,"
"goal," "can," "seek," "target" or the negative of these terms or other similar
expressions, although not all forward-looking statements contain these words.
You should read any such forward-looking statements carefully, as they involve
a number of risks, uncertainties and assumptions that may cause actual results
to differ significantly from those projected or contemplated in any such
forward-looking statement. Those risks, uncertainties and assumptions include:
(i) risks that the proposed transaction disrupts current plans and operations
and the potential difficulties in employee retention as a result of the
proposed transaction; (ii) risks related to diverting management's attention
from the Company's ongoing business operations; (iii) unexpected costs, charges
or expenses resulting from the proposed transaction; and (x) other risks
described in Heidrick & Struggles' filings with the SEC, such as its Annual
Report on Form 10-K for the year ended December 31, 2020. Forward-looking
statements speak only as of the date of this communication or the date of any
document incorporated by reference in this document. Except as required by
applicable law or regulation, Heidrick & Struggles does not assume any
obligation to update any such forward-looking statements whether as the result
of new developments or otherwise.
Media Contacts:
Heidrick & Struggles
Nina Chang
nchang@heidrick.com
Business Talent Group
Nyssa Kourakos
nyssa@nkstrategies.com
Source - Heidrick & Struggles
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