I’m a recruiter at heart. So, I fully endorse any and all methods that result in clients attracting, hiring and retaining talent as and when they need.
But the days are numbered for internal recruiters. Companies’ needs are changing, and agency recruitment is having to evolve to match. Leaders are denouncing relics of the past and embracing a method of recruitment that scales with business objectives.
That method is outsourced in-house.And it’s leaving in-house recruitment in the dust.
The trouble with in-house
In-house recruiters are typically burned-out employees who, frankly, didn’t cut it in the agency world. Barely pitching for one role at a time, these recruiters struggle to compare against the companies that scale the whole market. Their inability to recognise the movers and shakers, or emerging technologies that affect roles, prevents them from being totally effective.
The process of attracting people for a single organisation, where the role is standard (most are) and the organisation is run-of-the-mill, is hardly revolutionary work. That’s why in-house methods are (in the main) mediocre. I mean, sending InMails to people they don’t know on LinkedIn professing to have the best possible new opportunity for them… c’mon.
This is common though! Over the last decade, a wave of companies attempted to build in-house teams. Despite thinking they could cut costs, the market tightened, drying up available talent for key hires and restoring the need for talent acquisition partners.
Why agencies are evolving
Since agencies redefined what recruitment meant, businesses wanted more. Most of the companies I work with now used to be recruitment agencies but have since transformed into talent solutions providers. In-house recruiters simply can’t match their impressive portfolio of products and services.
The traditional agency model is evolving and diversifying – to cater to businesses with high-volume recruitment plans, for example, and address an ever-widening skills gap. Consequently, key hires know their cost. Exhausted internal recruiters are clueless when it comes to what lures these guys in, leaving businesses with subpar solutions.
So in came outsourced in-house. This new kid on the block acts as a welcome middle ground, offering businesses an agency recruiter to work on-site (or remotely if preferred) for a few days a week.
Establishing the middle ground
With this method, recruiters tap into the resources, functionality, drivers and management of a recruitment business while being coached daily on how to attract more clients.
Forget holiday pay, or the nightmare of employees taking annual leave in the middle of a project. With hiring costs soaring (and rightly so) too, the need for enterprises to embrace agency innovation in the shape of new solutions and products just makes economic sense. Hiring a journeyman professing to be a superhero recruiter does not (why else would they give up the dream and take a salary, however inflated it might be?). Now it can cost anything from £10k to £20k for one person to be the resourcing agent and place 2-6 people every month!
But it isn’t just money. Businesses that rely on outsourced in-house are “buying the time” of a specialist – including the use of their latest tools, methods and reach. It delivers the desired outcome, whether through a nurtured relationship with a significant talent pool or wealth of services including Statement of Work projects or even employer branding.
This efficient and proven approach is what solidifies the benefits of aligning with a professional and accountable partner. The choice to outsource in-house has never been more compelling.
“Attitude is more important than qualification or experience”
Xero Australia – managing director – Trent Innes has revealed his secret “coffee cup” job interview test.
Speaking to The Venture Podcast with Lambros Photios, the local head of the $8.5 billion ASX-listed accounting software firm said he refuses to hire anyone who doesn’t offer to take their coffee cup back to the kitchen after a job interview with him.
Innes said it was a simple tactic to ensure the potential employee fits the Kiwi company’s culture of ownership and showed the most valuable asset of all — a good attitude.
“I’m probably giving away all my dark secrets here now,” Innes said.
“But if you do come in and have an interview, as soon as you come in and you do meet me, I will always take you for a walk down to one of our kitchens and somehow you always end up walking away with a drink — whether it be a glass of water, a coffee, or a cup of tea, or even a soft drink.
“And then we take that back, have our interview, and one of the things I’m always looking for at the end of the interview is, does the person doing the interview want to take that empty cup back to the kitchen?”
Innes explained how he devised the test.
“What I was trying to find was the lowest level task I could find that — regardless of what you did inside the organisation — was still super important — that would actually really drive a culture of ownership,” he said.
“If you come into the office once one day inside Xero, you’ll definitely see the kitchens are almost always clean and sparkling — it’s very much of that concept of wash your coffee cup, and that sort of led into the interview space.
“You really want to make sure that you’ve got people who’ve got a real sense of ownership, and that’s really what I was looking for.
“Attitude and ownership scale, especially in a really fast growing environment like we’ve been going through and still at this stage as well.
“It’s really just making sure that they’re going to fit into the culture inside Xero, and really take on everything that they should be doing. It’s really served us really well as the business has scaled and grown. We’ve managed to maintain the value and purpose and culture that makes us special.
“Hiring for attitude is probably the most important thing I believe when you’re hiring people, especially in a fast growth company or a start-up environment or scale up environment — you need people with a really strong growth mindset and that comes back to their attitude.”
‘You can develop skills, you can gain knowledge and experience but it really does come down to attitude, and the attitude that we talk a lot about is the concept of “wash your own coffee cup”.’
On 16 May 2019, after 5 years entering Vietnam, the France biggest retailer Auchan has officially announced to withdraw from Vietnam. The brand will sell all of its stores to an unpublished partner after a long period of time not making profit.
Beside of some “not very good” image of Vietnam’s consumers in the last days of this supermarket chain. The act of this brand with their employees in the transition times has made the public to think back about company culture in general and ethical of the HRM in particular.
So, what happened?
Reasons leading to Auchan’s fail in Vietnam?
Founded in 1961, with headquarter in France and working in many industries include FMCG, commercial retail, real estate, banking, e-commercial, etc.
In general, there are three main reasons lead to the fail of Auchan in Vietnam.
Since 2012, Vietnam witnessed the invading of a series of retailers and large brand entering Vietnam.
The competition for market share in Vietnam become more brutal with the strong investment of brands from Japan (AEON), Korea (Lotte), Thailand (TCC Holding – Mega Market), Vingroup (Vinmart), etc.
This leading to a decreasing in sales revenue and brand’s awareness when Auchan have to change their brand’s name 2 times (from S.mart to Simply and final is Auchan) before closing.
In 2014, Auchan entering Vietnam and starting their business by collaborating with big real estate company to build supermarket inside their building, apartment.
At the beginning, this seems to be a very smart move when Auchan can take advantages from the residents of the building. But in return, when located inside apartments, it’s will be very difficult to approach consumers in a far distance.
Moreover, the customer segment of Auchan is middle to high level. While GDP of Vietnam is still low (below 2.500 USD/ people), if Auchan comes to Vietnam in 7 -10 years later, when the GDP increased to 5.000-7.000 USD/ people, that would be a different story.
One more reason, is Auchan’s brand awareness. With Vietnamese, products from U.S or Europe are earn the hashtag of “best quality”. But Auchan cannot take advantage of their country’s brand name. Which has been used very well by Thailand, Japan and Korea brands.
The retail trending of Vietnam is combination forms of entertainment, eating and shopping in one place like AEON Mall, Lotte Mart, Vincom.
The individual market will hard to compete, one realistic example is Parkson Mall of Malaysia which have to withdraw from Vietnam in 2018 after 13 years entering this market.
Humanity and integrity withdraw
In recent days, the “online community” of Vietnam has had very good feedback on the action of Auchan leaders board when they are helping their employee to redirection their job after the announcement to close the company.
Particular, the Human Resources Director of Auchan – Tran Phuoc Tuan has written a letter on LinkedIn – the biggest social network for job search and recruitment – to call for assistance in looking for job for his employee. Mr.Tuan also posted a Google docs link to help employers to share their recruit positions.
The Auchan’s director – Arnaud Bouillet – also give his feedback and recommendation for his employee and sharing their CV to his network.
This kindly act had lead to the call to support Auchan’s three remained supermarkets. Although all of the brightness situations, the sadness is that they still keep the plan to withdraw from Vietnam in June.
For people who following the “value investment” style of Warren Buffet, then in Auchan case, the brand value of them has shown through the way they treat their employee when it comes to an end. Because it is more important than the way the company treat their employee when it’s on the growing peak.
If Auchan comes back to Vietnam one day, I believe they will be very welcome by customer and candidates who looking for job.
Similarities/ Differences, Pros/ Cons between Headhunter & Recruiter.
Other definition and information about HR industry.
What do we have inside this article?
There are many posts and articles on the Internet about Headhunt and related topic. But most of them are talking about individual topics or just briefly explain a single problem.
This article will gather knowledge and information as many as possible and put them in one article.
>> Before reading, I have some notes for you:
This is a LONG article, do not scroll down if you are a lazy reading!
Because I will explain very detail every topic that I mention in the article.
This article is based on my own experiences and aggregate from the Internet so there will be mistakes and omissions. I will edit and upgrade this article frequently so you can follow up and reference.
Inside the article are sub-contents that explain relate definitions which I cannot write all of them in the article.
If you want to contribute ideas for the article, please feel free to drop a comment below. I will collect ideas and use it to upgrade the article.
The last thing, I hope this article can become a handbook for newbie to lookup or reference whenever you need to find HR information.
In HR industry, Headhunter and Recruiter are two employees working in two completely different organizational structures.
While Headhunter working for Headhunt company, then Recruiter is company’s recruitment employee.
The relationship between Headhunt company and recruitment need company is the relationship between Agency and Client.
>> Definition of Agency and Client in HR industry
Simply, Headhunter is a third party hired to searching candidates for other companies. And Recruiter is the company’s employee who’s in charge of finding candidates for the company.
However, the final purpose of both Headhunter and Recruiter is to find the right candidates on the market.
>> Where should I start my HR career path?
The relationship between Headhunt company and the company needs to hire employees is the win-win relationship (both sides have benefits).
But between Headhunter and Recruiter is a more complicate story. Sometimes it’s a partner relationship, sometimes it’s a competitor relationship.
>> Relationship between Headhunter and Recruiter
1. What is Headhunt?
Headhunt is “outsource recruitment department” hired by companies that have demand for hiring employees. Depending on the characteristics, strengths and company structure, each Headhunt company will focus on a segment of its own depth.
Headhunt companies offer a wide range of HR related services including ESS (Executive Search Selection), Retained Search, HR consulting, Training, Career Transition …
Headhunt companies call their customers Client. While companies using Headhunter service considered Headhunt company as Agency.
How many types of service a Headhunt agency have? And what are there? >> 8 basic types of services that a Headhunt agency have
Simply, in a company, there are a lot of departments and Human Resources is one department in it.
Besides the recruitment responsibility, the HR department also do many other tasks such as check attendance, salary calculation, health insurance, social insurance, etc.
Because taking many responsibilities, the HR department is hard to optimize one single array. That’s why we have HR Consultant services and Headhunt is one in it.
>> What is HR Consultant?
So, are there differences between Headhunt companies?
The answer is YES.
Nowadays, with the rapid growing frequency of the market, go along with the demand to recruit high-level employees recruitment. There are a lot of Headhunter companies are raised.
To classify between Headhunt companies, we can divide them into Categories and Function.
Categories: FMCG, Manufacturing, Oil & Gas, IT, Mass Recruitment, etc.
Segment: Fresher -> Junior -> Senior -> Manager -> Top C (CEO, CFO, CMO,…) etc.
Why do companies need Headhunter while they still have Recruiter?
If there are supply there will be demand and either opposite.
Although have private recruitment department but it’s not always possible for companies to find “right person at the right time”.
Three reasons that make companies need Headhunter.
1. Save times:
Many high-level and strict requirement positions need a lot of times to plan and budget to recruit.
While working with Headhunt agency things will be easier and simpler to enterprises. The entrepreneurs only need to give a detail brief and timeline to Headhunter and let them do their professional work.
>> Basic working process between Headhunt agency and Client
2. Save money:
Although have to spend fee when using Headhunter service. But if controlled wisely and planed well. The use of the service will bring back a big save to company.
Knowledge: Maybe it’s sound weird when the company’s recruiters don’t have to do anything. But beside of that, recruiters will have a chance to work with professional Headhunters in multiple segments and can learn a lot from them. The same thing happens with marketer at the client side, every time attend in an agency’s pitching they can learn the way they are working, ideas.
Save recruitment fee: Instead of putting effort and money out to recruit or running a campaign to find candidates that the results may be uncertain. Headhunters only charge you when you find the right candidate.
Save project: Imagine if you were running a project urgently and needed supporter immediately, but the Department of Human Resources cannot guarantee the recruitment progress to run on time. In this case, the Headhunter service will be your saviour.
>> Finding right people can save a whole project
3. The potential of Headhunt companies.
Besides the large amount and professional staffs, what makes the power of Headhunt companies are network and database.
With a wide network of professions, multi-industrial and from candidates who have been successfully introduced good positions. Plus the number of candidates records accumulated over the years and constantly increased through searching.
As a result, Headhunt companies always get a macro view of the transition of human resources in the market and know exactly where to find the right people.
With these “weapons”, surely the potential of a Human Resources department cannot be compared to the strength of a Headhunt company.
>> Why Companies’s Leader afraid of Headhunter?
Disadvantages when enterprise use Headhunt services
Everything has the other side of the coin. Although convenient and helps solve many problems, using Headhunt service still has some disadvantages.
Money: Yes, it’s always the largest concern topic of the enterprises. Like I mention above, Headhunter service can only bring benefit when controlled wisely and planed well. If don’t have an accurate understanding about the service and choose the exact type of service that needs at the moment. Companies may have to pay an additional fee or waste of times but the result is not as expected.
Efficiency: If even the low-level and non-demanding positions cannot be undertaken by the Recruitment Department. The company should review the effectiveness and operation model of the HR department. Moreover, using Headhunt service can’t always be absolutely guaranteed. Except using the Retained Search service (which I will mention later below), it is normal to have a Headhunt “quit” from a project.
Dependency: Headhunt service should only be used when the company really needs human resources immediately. As a leader, you will definitely not want to pay for the HR department while still have to hire outside services all day.
Abuse of outside services also causes internal Recruiter to lose skills due to not practising regularly. And because there is no pressure for KPIs, they will not be able to develop and improve their professional experience.
2. Who is Headhunter?
Headhunter is employees of Headhunt company. The main responsibility of Headhunter is to search for candidates according to Client’s brief or request from Business Developer, Account Manager.
What are the main responsibilities of BD (Business Developer) and Account in Headhunt agency?
Headhunters are distinguished and managed according to Function and Segment.
Two common Headhunter management models
1. According to Function
Each function will correspond to an employment category that the company is serving. This will help Headhunters to focus on their strengths and not be distracted when searching for too many candidates in different positions at one.
However, if you want to advance and go far in the role of a Headhunter. You have to go through many functions and be able to handle all functions.
As you can see from the diagram above, only when a Headhunter can handle all functions (Others) that Headhunter will able to advance to the highest position.
What interesting with this model is that the Freshers usually starts from the general function. After having enough skills they will choose a function they like or most advantage. And after mastering your function, to advance a higher position, they have to return to the original synthesis function. What an interesting loop right!
2. According to Team
In addition to the functions model, some Headhunt companies also use a self-managed team division system and have a leader reporting directly to the Manager / Director.
Different from the function model, Headhunter will search for candidates according to the field they are assigned (sales, marketing, accountant,…). For the team model, when BD earn a contract, Headhunter will split the job and search candidates by any Client’s demand (brief).
With the team division model, the promotion path will be more difficult. Because not only need to have good performance in the headhunter role, you also need to understand the process and working methods of BD, Account, Finance, Legal to be able to be a Team Leader.
But in return, those who can be a Team Leader will often have extraordinary skills, knowledge and leadership. Which will help them go further to the “top C” positions.
Three basic service segments of Headhunter on market
The “segment” here is the candidate segment that Headhunter searching.
We have three main segments:
In differences segments, there are differences difficulty and demand.
Is a recruitment method for a large number of candidates. Mass recruitment requires Headhunter to have candidate screening experience and speed CV rating.
Because not only have to recruit an enormous number of candidates but also has to guarantee about the quality, Mass Recruitment is suitable for those who are agile and good information capture. But in return, Mass Recruitment does not require too much about experiences and major expertise of the candidate.
Also know as Executive Search Selection (ESS) is the most popular Headhunt service. And also the most competitive segment of human resources on the market.
To be able to interview a candidate from Senior -> Manager beside of self-experience and skills, Headhunter also have to has the knowledge of the candidate’s working industry and understand the Client process to find the right audience.
Although the difficulty level is higher than Mass Recruitment but also the commission of Contingency Search is also much higher.
For both Mass Recruitment and Contingency Search, Client only has to pay after they hired the candidate.
Retained Search is a Headhunter service that employers must pay a fee in advance to Headhunt company to start the contract.
Headhunter, on the other hand, must commit to finding suitable candidates for a certain period of time or follow the contractual arrangements. Retained Search is the hardest and has the highest fee in Headhunt service segment.
Because at this segment, the candidate is senior personnel from Manager -> Top C (CEO, CFO, Director, …). In order to convince the candidate, Headhunter, besides being extremely ingenious and knowledgeable for the industry, the relationship is also an indispensable factor. Because at the very first steps of access and gain candidate’s trust are already a challenge.
Binds and profits of Client / Agency when using Retained Search service
A contract of Retained Search may take from 6 months -> 1 year to be done.
Due to the bindings between the two sides, the Retained Search contract negotiation also takes a lot of time.
On the Agency side, they were forced to complete the project under the timeline agreement. Because with Retained Search, Headhunters are received a part of contract costs before starting searching, not like Mass Recruitment or Contingency Search – the services only charge after the Client has recruited a candidate.
On the Client side, they were forced to work independently with only one Agency throughout the project and prepay a fee (20-40% contract). This means that the Client must put all beliefs as well as accept their risk in the selected Headhunt Agency.
However, every effort will be rewarded with sweet result.
On the client side, the completed project will bring them high-quality personnel according to their needs. The person who might change the future or success of the whole company.
On the Agency side, when completing a “hard to swallow” project like Retained Search. In addition to having a loyal customer, reputation and prestige are things that every Agency are looking for. Plus, the service cost of a project Retained Search is also a huge revenue for the Agency.
Generally, no matter what Categories or Segment, the skills and qualities that any Headhunter needs are:
>> Traditional interview and Behavior interview
3. Who is Recruiter?
Recruiter is the one who seeks and convinces candidates to work or become members of their companies/ organizations.
Recruiter’s searching target depends on the needs and requirements of the candidate’s ability.
Unlike Headhunter, Recruiter is distinguished by categories.
Three ways to recognize a Recruiter?
Although working in the same HR industry and having the same goal of finding the best candidate in the market. But Recruiter and Headhunter are completely different in both essence and working process.
1. Working for company/ organization
Recruiter is an “internal employer” and only works for one company which pay them salary monthly.
Because of the fixed monthly salary, Recruiter’s productivity and efficiency are not comparable to Headhunter. The person whose main income comes from commission. But in return, Recruiter is the one who understands the most about work, culture and company policies.
2. Directly offer salary and decide to recruitment
Unlike Headhunter, although the appropriate candidate has been found, the final result is still decided by the Client. Except for senior or important positions. In most cases, Recruiter is the one who directly offers salaries and decides to recruit the candidate or not.
Therefore, when interviewed directly by Recruiter, you will be answered directly about the results or have a specific response time.
In addition, interviewing with Recruiter usually the last step, not the intermediary like Headhunter.
3. Working in a specialized categories
As mentioned, Headhunter is divided by function and Recruiter divided by categories.
For easier to imagine:
A longtime Headhunter can recruit a senior position (A) of any industry.
A long-time Recruiter can recruit all positions of an industry (A).
Limitations of Recruiter
1. Do not have an overview of the market
Because of their focus on the company, most Recruiters neglect the outside market. Recruiters are very well aware of their company, culture, system and data. However, the “good” candidate has never been enough. Sometimes the suitable candidate is coming from another industry. So Recruiters should build relationships with other company’s Recruiter / HR to expand their data, relationship network and have an overview of the market.
Moreover, having a panoramic view of the market also helps Recruiter offer the salary rate more exactly. In addition, you can also build Mastermind Group for yourself.
>> What is Mastermind group?
2. Data and Network
A Recruitment department certainly cannot compare about the data potential with a Headhunt company both in quantity and quality. Plus, technology also one of the reasons make the data of Recruiter could not be equal to Headhunter. For sure, the cost of investing in a department cannot be equal to the investment cost of a company.
Another drawback of Recruiter is the network.
With Headhunter, especially in the high segment, their network not only from relationships but also from their candidates – people that keeps important positions of companies introduced by Headhunter.
In contrast, when an employee decides to quit a job, they often rarely to keep in touch with the former company HR.
Due to the above limitations: limited industry, data, network, technology, Recruiter’s processing and searching speed is also limited compared to Headhunter. In addition, the number of staffs is also the reason why Headhunter’s speed is faster. Compare Recruiter and Headhunter will be like comparing a “team” against an “organization”!
4. Differentiate Headhunter/Recruiter
After reading everything I wrote above, I believe you have already know the answer. Let’s synthesis information again.
Pros and cons:
If you make it here, congratulation, you are not the lazy reading.
So, you have got the most basic pieces of knowledge to be able to understand and choose your career path in the Human Resources industry.
The world changes day by day, so it is easy to understand that the content of this article will become obsolete one day. I will continuously come back to edit this article to make it always up to date as much as possible.
In the following section, I will write about the dark corners of the human resources industry in general and Headhunt in particular. In that article, I will also summarize the sharing and practical experience of seniors in the industry.
Waiting for my “HR the untold stories” series!
Related sub-contents inside the article should be read (I’m still working on it):
Definition of Agency and Client in HR industry
What is HR Consultant?
What are the main responsibilities of BD (Business Developer) and Account in Headhunt agency?
Traditional interview and Behavior interview
What is Mastermind Group?
Thank you for taking times to read the article. Please comment below to contribute to the article. Or just simply to let me know I didn’t waste my times write this article.
Closed the trading session of 21 May, Tesla’s stock has been plunged below $200/ stock, the lowest level since 2016. This means more than 1/5 market price of Tesla has been wiped out just in one month.
Let’s take an analysis of why this world’s largest electric and automatic car company ended in crisis.
1. Decrease in delivery
In its latest announcement, Tesla announced that the production of electric cars in the first quarter of 2019 was 77,100 units, but the number of deliveries to the buyers was only 63,000.
This means Tesla cannot deliver in time of 14,100 units and these vehicles must be stocked for delivery over the next quarter. Not ended here, the number of 63,000 units of the first quarter of 2019 delivered is also decreased 1/3 percent compared to the fourth quarter of 2018 (90,700 units).
The reasons for this decrease in delivery unit and sale revenue are because of the trouble in logistic policy of North America. Plus the strong competition from China and Europe are also causing difficulties for Tesla. Some area has recorded the growing over 600% in 2018.
Another analytics showed that the reason for Tesla’s decrease in sales revenue is because there rush in request clients to prepayment for orders before the end day of 2018 to avoid the 7,500 USD tax on each car.
The asset of billionaire Elon Musk has evaporated over 1 billion dollars after Tesla’s announcement about the decreasing amount of car’s delivered.
2. The deadly comments
Since Tesla calls for funding on the beginning of May.
Analysts have adjusted their forecast for this company’s stock, as recent information shows that the $ 2.7 billion capital mobilization at the beginning of the month can only help the company with enough capital for activities.
Following that, many top short sellers and influential traders also have bad comment about Tesla’s future stock price.
Max Wolfe – Co-founder of Multivariate Investment Fund said: “although the Tesla’s stock price has decreased about half of its price compared with $400 USD times, the current Tesla stock price is not too reasonable. Until now, it only shows more commitment than results that have been achieved”.
Another disadvantage information is that the automatic drive system of Tesla not very good as the company presented.
Moreover, the constantly sold out of “top” short-sellers like Whitney Tilson, David Einhorn and Jim Chanos also bring the market’s psychological of Bear toward Tesla’s stock.
3. Elon Musk receives a subpoena for a tweet
Last month, CEO Elon Musk have to appearance at Manhattan court for his post on social media network Twitter.
This is the result of his persistent war with the U.S. Securities and Exchange Commission (SEC). This agency alleges that the billionaire has not complied with his commitment to the government for fraud trading information on last December.
The SEC claiming that Musk had not received the consent of the lawyers before posting that information. In return, the unruly CEO says this content is not important and does not need to be censored before being published.
After the mess of Uber’s CEO about speech, the investors are more careful about the CEO statements rather than technology.
4. The sanction of Huawei
Another unexpected situation happens with Tesla is the commercial war of U.S and China.
The peak of this commercial war is the sanction of president Trump with Huawei. This will narrow the penetration way into China’s market of Tesla, one of the world’s largest consumption market of electric car.
This one again breaks down the trust of investors in the brighter future for Tesla’s stock price.
Mark Tepper – founder and president of Strategic Wealth Partners, on CNBC’s “Trading Nation ” said:
“If I were to believe Tesla’s stories, with a 35% projected earnings growth rate, even at a PEG [price/earnings to growth] ratio that’s at a premium to the market, you still can’t value the stock at over $100 a share and $100 is on the very high end,” he said.
In conclusion, in the middle of the crisis storm, there will be a lot of works for CEO Elon Musk to regain the reputation of Tesla and himself along with the company value. Let’s see what this “wizard” will do to turn around the situation.