Today’s environment has contributed to a never-before-seen talent market. Following entire workforces that had to go remote within days and subsequent high rates of resignation across industries, today’s recession fears and layoffs are contributing to a tight and unprecedented talent market.
With this talent landscape comes a new set of performance expectations and trends. In July, PECXO surveyed 150 private equity leaders on some of the new developments in the world of performance management. The survey shed light into the key talent themes impacting all of us today.
“The pandemic, coupled with the current economic backdrop, has forever shifted the way we work and measure success. PrivateEquityCXO’s Pulse survey themes are just the tip of the iceberg as we continuously adapt the performance management initiatives unique to our businesses.”— Lindsay Guzowski, Partner, Falcon
Embrace the Hybrid Work Model
Due to the sudden onset of a worldwide pandemic, entire companies had to move operations from office buildings to employees’ dining room tables. What was initially a 2-week plan for many businesses turned into months and subsequently years.
Having demonstrated that remote work can in fact be productive, employees expect that the option to work remotely, at least part of the time, remains. Conversely, employers who rely on in-person interaction to foster engagement and accountability expect that employees will return to the office at pre-pandemic levels (if they haven’t already).
87% of workers offered at least...