Every quarter we bring together top PE HR and talent executives to discuss current industry topics and to offer talent leaders in private equity the chance to gather, share intel, and decompress with one another. In our most recent event, we discussed many topics and listed our top takeaways below.
These forums follow Chatham House Rules, so listed below are high-level takeaways only. Are you in private equity and interested in joining fellow leading PE professionals during our next Human Capital Forum? RSVP for our next event on August 24th.
Resource scarcity:
- All firms are facing the impact of this in some way. Here are a few ideas for addressing this challenge:
- Lean into interim execs to professionalize certain business areas immediately post-acquisition, steady the ship while a more permanent search takes longer than it has historically, and/or serve as a “try before you buy” resource.
- Get clarity on the “must-have” vs “nice to have” qualification of candidates from the hiring teams (portco execs or deal team). Everyone wants LeBron, but would you settle for Kevin or Steph? Evaluate possibilities to reassign work elsewhere in the business or settle with a 9/10 fit candidate.
- Line up third-party resources as early as possible to ensure they aren’t booked.
- Streamline the recruiting process, especially when you know the candidate may receive multiple offers.
Developing current talent:
- Given how hard it is to get top talent in place, many firms and companies are trying to solve for it by developing more junior talent to step into exec roles.
- Human capital teams are creating development and training plans that are broadly applicable to all portcos and can be tailored based on the company, position, and makeup/structure of the exec team.
- Each business is unique, but there are common experiences in talent development that can cut across groups. Listen to employees to determine what type of development they want (coaching, training, continuing education, etc.).
Managing relationships with specialized recruiters:
- In BluWave’s recently published Q1 Insights report, specialized recruiters were a top use case on the BluWave Value Creation Index, emphasizing the importance of partnering with recruiters who already know the top players with the right skills for their specific needs.
- Sometimes it may be helpful to consider a recruiter directly adjacent to the industry/functional area you are seeking, as they may approach the search differently.
- Additionally, when presenting search firm options, it is helpful to share multiple options with the hiring manager, so they can find the best fit for them.
We thoroughly enjoyed the fruitful conversations that occurred during this recent gathering of PE human capital professionals. If we can be of assistance during this busy time, please let us know.
Additionally, you may be interested in checking out some of our human capital specific resources, which can be found here:
