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October 9, 2015

DHR continue to lie about CTPartners people and offices joining

Update October 9, 2015: 100 days into DHR's "acquisition" of CTPartners and not only are DHR nowhere near their claimed numbers, the numbers are DROPPING; and Geoff Hoffmann has reduced the numbers he now claims: 250 employees is now 210 (when we believe there are only 48). Instead of saying 17 offices, DHR now say 14 (when it is actually only 10). They never achieved any of the levels they continue to claim.

Regular readers of this web site will know that DHR love to assert numbers as facts and we love to check the veracity of these numbers. They also repeat them, repeat them, repeat them and hope that everyone actually believes them.

The latest numbers DHR are spouting are to support the "success" they had in acquiring certain assets of former competitor CTPartners. Well, we continue to monitor DHR's accuracy with a running tally.

DHR's progress acquiring CTPartners' assets as at October 9, 2015 compared to their claimed results

                   European              EVPs/          Non empty
Employees         employees            Partners         offices 
                                   
    48               31                   22                 10    
    250              175                   75                 17    

Where do these numbers come from (color coded)?

In a press release, Geoff Hoffmann of DHR International boldly claimed DHR had done a deal to "add 17 offices and 250 employees worldwide". We originally saw this as a clever ploy by DHR to normalize the behavior of a CTPartners employee joining DHR. DHR were trying to suggest: 'hundreds of others are joining and so you would be stupid if you didn't join'. Others might argue you would be stupid if you did join DHR, particularly already having the scandal-ridden CTPartners on your resume (but it seems some consultants have been quickly dropping CTPartners from their resumes).

In an August 8, 2015 article in Crain's, Geoff Hoffmann reduced the numbers to "14 offices and 210 of CTPartners' employees". How come 17 became 14 (when there are really only 10)? How did 250 become 210 (when there are really only 48)? Rubbery figures!

David Hoffmann, Geoff's father and the founder and sole owner (and occasional Chairman) of DHR, claimed on July 6, 2015 that DHR finished signing up around 175 from CTPartners just in Europe. It was clearly framed as an unambiguous statement of past fact. This was in an exclusive interview with his favorite "media outlet"/PR apparatchiks, Hunt Scanlon.
""CTPartners was great because we've ended up with around 175 people in Europe and that's really where we wanted to accelerate our growth," David Hoffmann said, noting the significant position the company gained in Eastern Europe."
DHR's favorite media outlet/PR apparatchik Hunt Scanlon claimed on July 14, 2015 in an article mysteriously since deleted by them, although the same article is still published on LinkedIn (for now).
"Just last month, DHR struck a deal to acquire 17 offices and 75 recruiters from beleaguered New York search rival CTPartners"
In a comment to that story, former bankrupt Christopher W. Hunt, President and Co-Founder, Hunt Scanlon Media repeated that claim:
"With all due respect, 75 recruiters joined DHR when they acquired the selected assets of CTPartners, so they saw value in joining DHR."
Hunt Scanlon repeated this claim on July 24, 2015:
"DHR ultimately settled for the biggest chunk of CTPartners ‘selected assets’ which included some 75 recruiters located among some 17 worldwide locations. “In my mind, DHR was the clear winner,” said Mr. Scanlon. “The firm made good on a plan set out several years ago by its CEO, Geoffrey Hoffmann, to put a full court press on expanding its global capabilities.”
(We love the way Scanlon quotes himself quoting his client, Geoff Hoffmann. We also love the way that this implies Geoff Hoffmann has been CEO for DHR for "several years" when his dad only elevated him to this role less than three years ago.)

And then Hunt Scanlon once again repeated most of the claim on July 31, 2015, although all of a sudden - and without explanation - 250 employees had dropped to 200 employees:
"DHR struck a deal to acquire 17 offices and about 200 employees of embattled New York rival CTPartners. That deal, which handed DHR -- the sixth largest U.S. search firm [where's the evidence, Hunt Scanlon] -- a core group of about 75 European and U.S.-based search professionals, is estimated to have added $75 million in revenue to DHR, according to an analysis by Hunt Scanlon Media."
Of course, Hunt Scanlon have a certain reputation. And who would believe that each of the poor performers (mostly researchers) from CTPartners who had no choice but to join DHR are doing over $2 million in billings each, with many of them in Eastern Europe were salaries are lower. It is not believable, especially as there are only 22 transferring Partners.

According to DHR's web site, they haved added 10 new offices - all from the CTPartners Neumann business in Eastern Europe. These are the offices in Bucharest, Budapest, Cologne, Hamburg, Heidelberg, Munich, Salzburg, Sofia, Stuttgart and Vienna.

DHR know so little about this part of the world and were so keen to show the offices they acquired that for the first few days they misspelled Heidelberg as "Heidelburg", as you can see in this screenshot. D'oh!

DHR fixed that and should at least thank us for our pro bono proofreading service. See DHR, we are helping you correct your mistakes. If only you would correct the record on the numerous other egregious lies you continue to tell...

11 comments:

  1. Thanks again for showing DHR's true colors. They are complete liars. Over three weeks in and they have exaggerated by over 87%.

    DHR are the most untrustworthy players in the market.

    ReplyDelete
  2. Any more news on Caldwell ? Guess it will be difficult for DHR to buy them ...

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  3. This brilliant post shows how DHR will say anything to make money. It is so clear in black & white that DHR lie through their teeth.

    I feel sick in the stomach when I recall I once had the misfortune of working there.

    I cannot believe that any reputable client would hire them or any reputable consultant would join them. Yet they still do.

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  4. The math in regards to CTP is pretty easy to figure out from their last couple of earnings releases. The average billings per consultant was $1.3M, with the average search fee around $100K. Many of the highest billing consultants at CTP have gone to reputable firms like Egon Zender, SStuart, RReynolds, although many more to lesser brands like KFI and Heidrick. Each of the individuals generating revenue that joined DHR was unlikely to be billing the $1.3M or more...if they were, they would have had much better options than DHR. Hoffman's math never added up, and still doesn't. It's more amazing that DHR actually wins any truly high level assignment. Company Board members obviously don't know about this blog, and Hunt Scanlon as well makes sure to delete any mention that it exists either. The entire search industry benefits from blogs like this, thank you!

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  5. Are DHR really still in business?

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  6. I'm ex CTPartner. I met a client today who told me that the sole Partner who moved over to DHR is now approaching CTP clients with Global Procurement Contracts, telling them that "CTPartners is now DHR. DHR bought over CTP, hence all contracts Global Mandates that your company had with CTP has now been transferred to DHR, hence you must work with us."

    My client told him to **** ***.

    ReplyDelete
    Replies
    1. Thanks for your comment. This is happening around the world and someone shared written examples of this happening. See http://unofficial-dhr-international.blogspot.com/2015/08/dhr-international-debt-collectors.html

      Delete
  7. The end is nigh for DHR...

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  8. It's interesting that Charles Betzing in Chicago, whom had pestered a lot of retained search consultants about moving over to DHR (including this retained consultant at least 3 different times) was moved out of his Dir, Talent Acquisition role and into a Sr. Associate role back in June...kind of matching up with all of the moves from CTP to DHR that didn't work out as planned.

    Senior Associate
    DHR International
    June 2015 – Present (3 months)Greater Chicago Area

    Currently working on DHR client searches with a specialty in the automotive and general industrial manufacturing areas.
    Director, Talent Acquisition
    DHR International
    December 2011 – June 2015 (3 years 7 months)Greater Chicago Area

    Established in 1989, DHR International is one of the largest retained executive search firms in the world, with more than 50 offices around the globe. We conduct search assignments at the board of directors, C-level and functional vice president levels. DHR's renowned consultants specialize in all industries and functions in order to provide unparalleled senior-level executive search, management assessment and succession planning services tailored to the unique qualities and specifications of our select client base.

    ReplyDelete
    Replies
    1. DHR's Talent Acquisition people are like a virus. When I was at Russell Reynolds you could hear them phoning each and every consultant in alphabetical order. A former colleague who was (stupidly) at DHR said they used to put the associates who they wouldn't trust with a client into these roles. And they would then send some of them like Mormon missionaries to Europe or Asia. They had no understanding of non US cultures.

      DHR are the laughing stock of the search industry.

      Delete
  9. DHR are the Volkswagen of the executive search industry. They do anything they can to lie about statistics to make sure they appear better than they really are.

    ReplyDelete