In our most recent client blog, “The Future of Hybrid Work Policies,” we unpack the rapid evolution of work practices that are significantly benefiting more nimble industry competitors. Our recent recruiting experience shows dramatic benefits for employers that allow staff some flexibility around remote work while updating office work formats to better facilitate team meetings and maintain the critical culture-building aspects of in-person interactions on a regular basis. Flexibility is proving to be a game-changer for recruiting initiatives at more senior levels, and has significantly contributed to the retention of key employees, particularly among diversity cohorts. This is one of the most important shifts that we can recall in corporate culture over the last 20 years.
Remote Work’s Most Challenging Hurdle:
Onboarding into the “C”-Suite
Watch our recent video blog with our successful candidates, Kane Brenan, CEO of TIFF Investment Management, and Jeff Whitaker, CEO of Chevy Chase Trust, about joining a new firm under pandemic restrictions. Their experiences and observations are full of emerging best practices and helpful tips. Most importantly, how do you have an impact as a leader in the challenging new world of hybrid workplace practices?
Recruiting Demand in the C-Suite Remains Robust Through the Pandemic
Our recruiting work remained strong through 2020, with a brief dip in the pipeline pre-election. Q1 2021 started off strong in new assignments. It is clear that the market turbulence and uncertainty has not impacted longer-term strategic demand for executives who can make a difference in a rapidly evolving market. Demand remains strongest with boutiques with unique stories, mostly in the ETF, RIA, and alternatives segments, and weakest in the largest ’40 Act firms and national broker-dealers. In distribution, marketing, digital and solutions-based skills are at a premium, and field sales teams are shrinking. In the investment field, multi-asset class, private markets and international expertise is at a premium, and traditional long only strategies have a significant amount of excess liquidity in the executive labor market.
Diversity Remains Critical to Our Work, and We Get the Job Done
Diversity continues to be an important focus of our industry; however, much of the discussion still appears to be declarative around the obvious. We have changed the game by executing on our diversity commitment, with over half of our successful candidates over the last decade representing diverse cohorts. As the academic research continues to build around diverse teams being critical to growth and profitability, we have developed an important suite of recruiting tools in partnership with our clients that change the outcome, not just the intention. Beverly Love’s recent blog touches on one of the more important aspects of our success: participating as an ally with a wide range of diversity professional networks for over 20 years.
Mission-Driven Work a Core Focus
Since the founding of our firm, we have worked on a wide variety of mission-driven leadership searches for associations, not-for-profit asset owners, and ESG investment firms. Recently completed searches include the CEO of The Investment Fund for Foundations and the Chief Investment Officer for the New York Community Trust. Earlier work included C suite and Board assignments for Calvert Investments, Vanguard, The Sustainability Accounting Standards Board, the Money Management Institute, the Insured Retirement Institute, NICSA, The Investment Company Institute, and several large family offices.
