Private equity leaders continue to face the daunting task of filling roles in a competitive job market amidst an equally challenging economic environment. However, despite the contracted pool among C-suite PE leaders, 82.7% of respondents to our recent survey indicated that they view their current talent recruitment strategy as effective, and shared the tactics they find to be the most successful.
As you navigate your next search, consider the best practices below to ensure that you are not only maximizing your recruitment strategy, but that you are remaining aligned with your company’s overarching strategy and objectives.
See also: Top 50 Firms for PE Executives: Nine Dimensions of Governance Fit
Develop a Multi-Channel Recruitment Strategy
Depending on the role and the company, the cost of hiring the wrong employee can go as high as $240,000, per 2021 research.
— U.S. Department of Labor
Given the significant investment and time required when making new hires, having a thoughtful and robust strategy for how and by when key members of your team will be recruited are crucial to business operations.
Your strategy should contain a number of overarching themes and relevant information, including a competitive analysis (what are your peers paying individuals in this role?), marketing plan (where will the role be advertised? Is there an associated cost?), as well as an inte...