The desire to ramp up a new area of business or quickly enter an unknown region in today’s competitive business environment makes the concept of a team lift-out attractive. Speed is the key advantage of recruiting a team.
When done successfully, lift-outs can accelerate the positioning of a company and its businesses. The value of the existing team’s chemistry and its operating flow translates into an instant presence in the desired business.
Team lift-outs can be complex and challenging to execute. There can be legal risks for both client and candidates, and complications in getting the critical parties to buy in. It is critical that all the pieces are lined up correctly and all possible contingencies are planned for. However, these risks can be mitigated with an experienced search firm facilitating the process.
A team lift-out can be a far more economical way to enter a business instead of buying a firm. Harrison Stone & Associates has the expertise to help you in identifying and hiring the right team.