Why Use External Search For C-Suite Talent in Private Equity; It's Time For ExCo To Get Actively Involved
In this week's Hanover Talent Insights:
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Why use external search partners to identify C-suite talent in private equity
The size of a private equity fund and how many assets they have in their portfolio certainly informs their potential usage of external?executive search ?partners to identify C-suite talent.
Added to that, different funds take different approaches. Some have internal talent capabilities, retention plans and succession planning, while others look outside.
Talent search for different sized PE funds
In my experience, firms with only a few assets don’t derive as much benefit from partnering with an external search firm on a?retained search ?basis. Since you’re likely to be doing fewer deals each year than larger firms, your talent requirements in those assets is less, this means it’s generally not to your advantage to manage a single individual recruitment supplier or source, and if you’re looking for talent externally, contingent search or looking to your network might be better options for you.
Mid-market firms typically have an operations capability to manage assets that are invested in, and there’s a value to having an operations function because mid-market firms aren’t large enough to have a dedicated consulting function across all the areas of capability that an asset might need support on. The operations function can perform a blended mix of what your business needs versus where it gets it from. This makes partnering with an executive search firm a good way to find C-suite talent from across the market.
The bigger your?private equity ?fund, for example if you have a consulting function in a large cap fund, the more difficult it is to manage talent search yourself. You need more formal PSL arrangements and alignment on terms, and partnering with an executive search firm supports you in finding the best available C-suite talent….
Keep reading this article by Laurence Ashby on the Hanover website HERE.
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Lessons, Opportunities and Challenges for DE&I in EXCOs
In the wake of the cultural turmoil that has been the last two years, it's clear that diversity, equity and inclusion are no longer purely an HR issue. The facts are now front and centre for all to see, with mammoth movements such as #MeToo and Black Lives Matter tearing down the fa?ade of virtue signalling that some may sit comfortably behind.
It's time for those on the Executive Committee (EXCO) to get actively involved.?
But while the current zeitgeist is to join in with the push for systemic change, in an industry as traditional as financial services, how can we ensure genuine effort and authenticity from the top down.
Discover what our research shows about DE&I at EXCO level in financial services, the work that needs to be done and how it can be achieved.?
If you’d like to discuss DE&I at the EXCO or C-suite level and what Hanover can do for your organisation, please?contact our DE&I Partner to arrange a chat .
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Is your?#Executive ?#CV ?perfect? Are you ready for action? Every year the job market ramps up following the summer lull as recruiters get bac to work and hirers aim to fill roles before the end of the year (and the inevitable end-of-year slump). Prepare yourself for the job market right now!
Join?Victoria McLean ?on September 6th at 1pm for a free City CV masterclass and ensure you are ready for action with the perfect?#ExecutiveCV ?to showcase your expertise and value.?