Trends in Leadership Recruitment in Today’s Business Landscape
Slayton Search Partners
Delivering executive talent that drives organizational success.
Reflecting back on the first half of 2023, it is easy to be astonished at the ever-evolving economic outlook that has in turn impacted many organizations’ hiring strategies. No matter the industry, today’s business landscape requires leaders who can navigate this uncertainty while simultaneously addressing the shifting expectations of both their workforce and their customer base.
In this month’s newsletter, we share a deeper look at three sectors in particular: private equity, insurance, and retail.?
The role of the private equity CFO has become business-critical, but rising demand and turnover will continue to challenge PE firms.
In times of volatility, financial stability becomes an understated hallmark of business success. Private equity (PE) firms have, appropriately, responded to the severe macroeconomic challenges of recent years with caution, making unprecedented pullbacks in investment and reaching record levels of dry powder. Today’s firms are steadying their balance sheets and preparing for long-term growth by building quality over quantity—a process that will increasingly require proactive CFOs.
The role of the private equity CFO is expanding far beyond its traditional limits. These days, the most effective CFOs serve as technologists, analysts, regulatory experts, and beyond as duty calls. In fact, S&P Global Market Intelligence reports CFOs now only spend 10-50% of their time on financial oversight.
For CFOs of private equity firms, outward-facing and hands-on activities have replaced many of the high-level tasks that once consumed their day-to-day workload. They’re taking part in investor relations and portfolio company onboarding, all while lending a hand to various aspects of business strategy—talent attraction, location strategy, advanced technology implementation, and more. In today’s landscape, the most effective private equity CFOs are excellent organizational leaders, not just finance leaders.
The insurance market has been remarkably resilient in the current landscape, but securing insurance talent for the future is a top priority.
The insurance industry, in recent times, has battled with a plethora of challenging events. From the COVID-19 pandemic and potential recession to the Russian invasion of Ukraine, global events have shifted the attention of leaders to developing agile business strategy and, often, putting out fires as they occur. However, as tides change and new challenges face the market—namely, the growing talent shortage in the industry—insurers must turn their focus to securing a workforce for the future.
Talent strategies are well overdue for a reinvention in the insurance space. Employee needs have changed, and hiring and retention efforts must, too. In preparation for the future of insurance and the talent challenges that lie ahead, industry leaders must strengthen their workforce through innovative, modern talent strategies.
Moving into the future, top-performing insurers will be the firms that are most proactive about implementing changes. They will be the companies that offer comprehensive value—going beyond standard benefits packages and offering learning and development opportunities, remote flexibility, and an inclusive culture. Additionally, successful insurers will reframe their mindsets about who they need to hire.
Finding new ways to attract and retain employees is key to thriving in uncertain times.
The retail industry has become predictably unpredictable. From the retail sales plunge in early 2020 to the chronic supply chain disruptions of the following two years, retailers have faced significant market volatility since the start of the COVID-19 pandemic. Adaptivity has become the hallmark of effective organizations—a characteristic every business must emulate to forge a continuous path of success.
As the retail landscape continues to shift, new economic challenges and hiring difficulties have emerged. The importance of staying agile must be reiterated. Now more than ever, retail leaders must adapt their recruitment and retention strategies accordingly to stabilize their workforce and access the talent they need to thrive.
As some corporations turn to layoffs, strategic retailers must take this time to strengthen their recruitment and retention strategies. By doubling down on talent investment and putting their workforce first, retail leaders can show their commitment to employees and earn a positive employer brand reputation that lasts.
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Private equity, insurance, and retail are just three areas of many that we strive to keep a pulse on at Slayton Search Partners. For more news, trends, and insights, discover more of our articles here.?
PE/VC FP&A | Partnership Manager at Cofi.ai
1 年Congratulations Slayton! ?? Wishing you all the best!