Tailwind Capital engaged with ON Partners due to its unique executive search expertise at the intersection of private equity and SaaS.
AMID GLOBAL LABOR SHORTAGE, BUSINESSES RETHINK TALENT STRATEGIES – HUNT SCANLON REPORT FEATURING ON PARTNERS
Matt Mooney, partner at ON Partners, provides insights in new Hunt Scanlon publication on talent strategies moving forward
Amid ongoing labor shortages around the world, Hunt Scanlon releases insights to help business leaders rethink strategies for finding the right talent. The approaches offered, such as alternative credentials, utilizing untapped populations, and flexible work hours from flexible locations, can help businesses to identify, revisit, and overcome notions that may implicitly limit candidate searches and talent pools. Rethinking sourcing strategies, says the study, will yield more candidates in the short term and more agile and diverse talent pools—and organizations—in the long term.
“My first observation is that there are serious challenges cleanly identifying new normal,” said Mooney. “Are we in a booming market or looming downturn? Pandemic or post-pandemic? Back in the office or remote? This lack of clarity forces companies to make assumptions that may or may not be true. Multiple blue-chip companies have embraced a fully remote work model, while just this week we saw Tesla order everyone back to the office full time. This lack of market clarity will cause ongoing disruption and confusion.“
Candidates Still Have Leverage
“Candidates still have leverage in this war for talent, but a growing wave of layoffs has the potential to turn that tide quickly,” he said. “The key will be for companies to remain nimble, be transparent, and attempt to communicate a philosophy that matches the current market conditions. Many companies appear to be pushed into a reactionary mode which is not well received by current or potential employees.”
Search firms have been through a lot in the last 36 months, Mooney said. “From a booming market heading into the pandemic, to a market that essentially shut down for a few months, back to a booming market in a relatively short period of time. Given the circumstances, most firms have adapted well and have continued to provide top talent despite the adverse situation. The biggest changes we have seen firms make is around the speed to embrace change. From remote work to adapting to 100 percent video-based interviewing, client meetings and internal discussions, an industry that had been slow to change for decades demonstrated true adaptability. It is this openness to evolve and the change in process and philosophies that embodies a more nimble industry. The drop in consultant and candidate travel also dramatically reduced the cycle time of engagements, proving that firms and clients can move fast.”
“Business has been historically good for ON Partners,” said Mooney. “We continue to grow at unprecedented organic rates and solidify our partnerships with top brands across a range of industries. Companies are still hungry for top talent, and even where we are seeing early adversity, companies are simply adapting to the type of talent that may be needed in a more challenging economic environment. Top roles are hard to fill and will remain difficult for the foreseeable future. Adding economic uncertainty to an already evolving environment only makes hiring that much harder. Great firms will always adapt and position clients to acquire the necessary leadership to fit what looks to be ongoing opportunities in the market.”
About ON Partners
Since 2006, ON Partners is the only pure-play executive search firm building diverse C-level and board leadership teams. We rebuilt the institution of executive search for the way you work. Our approach includes present partners who engage with their clients from the first brief to the final decision, individually crafted solutions that are unique to each client, and an easier experience all around. Named by Forbes as one of America’s Best Executive Recruiting Firms and to the Inc. 500/5000 Lists eight times, ON Partners is consistently ranked among the top 20 retained executive search firms in the U.S.
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