Scrabble Revolutionizes Executive Search with Data-Driven Intelligence and Human-Centric Recruitment
In the high-stakes world of executive search, where a single wrong hire at the CEO or CXO level can cost a company millions, the difference between success and failure often boils down to two things: a deep professional network and the "guts" to act on a vision. While many consultants prefer the safety of established brands, some choose to bet on themselves.
Enter Naveen Tiwari, the Co-founder of Scrabble Inc.. Alongside his wife Swati Saboo and co-founder Lakshmi S., Tiwari has transformed a recruitment startup into a multi-million dollar engine for leadership talent. From a humble first-year revenue projection of 50 lakhs that was "shot down" by skeptics as too aggressive, Scrabble skyrocketed to a 4.2 crore reality in year one, recently crossing the 21 crore milestone. Their journey is a masterclass in action-orientation, innovative cost management, and the evolution of recruitment in the age of AI.
The Leap: From Salary "Addiction" to 21 Crore Revenue
Naveen Tiwari’s transition from a private banker at Kotak and Barclays to a recruitment powerhouse wasn't a calculated master plan—it was a push from his wife, Swati. "Honestly, I didn't have the confidence. Risktaking capacity wasn't that much because of the 'addiction' to a monthly salary," Naveen admits.
When they pitched their initial business plan to established search firms for investment, they were told their 50-lakh target was impossible. They ignored the skeptics and launched anyway. By the end of their first year, they hadn't just met the target—they had beaten it by 8x.
The Growth Trajectory
- Year 1: 4.2 Crores (Projected: 50 Lakhs)
- Year 2: 10 Crores
- Year 3: 15 Crores
- Year 4: 21 Crores
The Strategy: Specialized Tiers and Profit-Sharing
Scrabble’s success is built on a two-pronged approach to the talent market:
1. Scrabble Inc. (The Leadership Engine)
Focusing exclusively on roles with compensation of 30 lakhs and upward. This is a high-stakes game where "talent availability is lesser" and the impact of a hire is massive. Client credibility here is built on years of personal trust rather than just a brand name.
2. Jix (The Junior/Mid-Level Arm)
Launched two years ago to satisfy client demands for a full-spectrum service, Jix handles roles below 30 lakhs. While the stakes per hire are lower, the "legwork" is higher due to a less professional candidate pool and higher offer back-out rates.
Innovative Cost Management
In the early days, Scrabble couldn't afford a massive fixed payroll. They launched a plan for "Returning Mothers" and professionals on career breaks. By signing up 30-35 people on a profit-sharing basis, they gained the capacity to execute massive mandates without adding fixed overhead costs.
The Logistics of the Search: Beyond the Laptop
Naveen breaks down recruitment into a surprisingly simple set of tools: a phone and a laptop. However, the complexity lies in the sourcing. While LinkedIn and job portals (Naukri) are standard, the most effective hires come from:
- Personal Networks: Built over 15+ years in banking and recruitment.
- Professional Networks: Industry-specific circles.
- Referrals: The "Gold Standard" of high-intent candidates.
The industry standard for fees ranges from 6% to 35%. Scrabble operates in the 12-20% range for senior roles, while Jix stays between 10-12%.
The Candidate-to-Selection Ratio
- Senior Level: Can be as low as 2 profiles if the mandate is crystal clear. Often requires 7-8 meetings to find the perfect CXO.
- Junior Level: Usually 4-5 candidates are enough to make a decision, as the risk of a "bad hire" is easier to correct.
Recruitment in the Age of AI: Relevance over Replacement
With global tech giants laying off thousands, the fear of AI replacing human recruiters is palpable. Naveen offers a more nuanced view. "It’s not that people will be replaced completely. Companies are becoming far more efficient. If one recruiter handled 8 roles before, AI might enable them to manage 15."
He identifies that low-stake, junior-level jobs where human decision-making is minimal are at the highest risk. However, Senior Leadership and roles requiring Creativity (Graphic designers, Content creators, Copywriters) remain resilient. "Creativity is something which is difficult to replicate through tech," he notes.
Future of HR Tech
Scrabble is currently partnering to develop an End-to-End Recruitment Tool. While current tools offer "parsing" or "sourcing" or "CRM" in silos, Naveen envisions an integrated platform that manages the entire lifecycle—from hunting clients to capturing every negotiation and interview detail.
Key Takeaways: Naveen Tiwari’s Blueprint
- Action over Ideation: Don't spend years thinking about a business model. Implementation is the only thing that matters.
- Data is the Moat: Historical work is intelligence. Storing and retrieving data on previous searches (e.g., 300 video editor roles) makes future searches 10x faster.
- Be "Crazily" Optimistic: Entrepreneurship involves failing 10-12 times a day in small things. You need a "mad" level of optimism to keep showing up.
- Specialization is Scalable: By splitting Scrabble (Senior) and Jix (Junior), they covered the whole spectrum without compromising on the quality of executive search.
As Naveen Tiwari looks to the future, including his own podcast "The Game Room", his mission remains focused on the human element of business. Whether it's a fresher or a CXO, his firm is proving that while AI can provide the data, it takes human guts and a Marwari spirit to build a legacy.
About the Guest
Naveen Tiwari is the Co-founder of Scrabble Inc. and Jix (Jigsaw). A Pune MBA graduate (ISBM), he spent eight years as a private banker with Kotak, Barclays, and UBS before pivoting to recruitment with Michael Page. Since 2021, he has led Scrabble to become one of India’s fastest-growing executive search firms, specializing in startup and legacy business leadership hiring. He also hosts "The Game Room" podcast, where he interviews founders on their entrepreneurial journeys.
Scrabble Inc. is a Bengaluru-based boutique executive search firm. It focuses on senior-level placements (30LPA+) across Technology, HR, Strategy, and Operations, serving a clientele that is 75% startups and 25% established enterprises.