As we progress through the 1st quarter, below are our views of the current executive market.
Our Observations:
In discussions with our clients…executives and boards… and, with candidates for our searches, clearly, there is a sense that the market remains tepid with less opportunities and positions available on balance than in the similar period last year. Many have characterized the current market demand for C-Level executives, especially for functional positions, as a “white collar recession.” We see it differently.
Our Perspective-Accelerating the Here and Now:
As CEO turnover is continuing at a record pace, we are experiencing an increasing demand for high-achieving executives…those who exhibit leadership adaptability and foresight with track records of continually increasing operational efficiencies to enhance enterprise value. To gain results, these in-demand difference-makers bring an outside-in perspective and know how to truly enable change by underscoring quick but thoughtful actions within the context of an inclusive and adaptable team culture.
Our view is that Boards and CEOs are seeking competitive efficiencies yielding continually improving margins as paths to value. Accordingly, these companies recognize that they must “up their game” or risk being “left in the dust.” And, to win now requires leaders who determine “the what” and “the how’ and most importantly, “the who” to effectively press forward with grit to take advantage of opportunities and meet the challenges head- on of continual transformations.
Our private equity clients, which in nearly 70% of the cases after acquisition appoints new CEOs, increasingly are seeking these leadership qualities for their portfolio companies….continually by top grading. And, in increasing numbers, similarly, we’re experiencing heightened demand for such leaders for mid-market companies in virtually every sector… consumer and industrial products, financial services and technology.
As we see it, this market demand trend for these “move the needle” leaders will continue to accelerate… given the current economic, political situation and impact… domestic and globally… asymmetrical challenges and the advancement of technology generally… and AI more specifically.
Although easy to identify based on their documented accomplishments, these true difference makers are rarely on the market, and they aren’t readily available.
To successfully attract and recruit such individuals requires a thoughtful and disciplined approach of candor and transparency to interest and fully evaluate…track record and fit…of these talented individuals.
To Advance:
The market demand for these “stars” is acute.
If you are considering upgrading your leadership, given the current market condition, we encourage you to move forward soon. And, yes, more than ever, successfully recruiting in-demand executives requires laser focused commitment to meet client outcomes, access to the most qualified given each client’s unique situation coupled with a deep evaluation of candidates…….hallmarks of our relationship-oriented Firm… where trusted collaboration with each client truly matters.
Rightfully, our clients engage us because of our “sensitive matters” approach of confidentiality and care, years of experience, judgment, and our thoughtful deep assessment of “fit” on all dimensions. We know that our Firm’s reputation of successful outcomes, earned over many years, is on the line with every client…every day.
We welcome your thoughts and look forward to “partnering” with you and your team.