October 26, 2021 – What are the key value-drivers for operating executives when both exit values and resignation rates are at all-time highs? In a record-breaking year, there are heightened variables to consider: Exit values are through the roof, and human capital is rising as talent is increasingly empowered to dictate how and where they work. CEOs, especially those with a proven track record of success, know that recruiting and retaining top talent starts with homing in on what drives key leaders and their direct reports. At the PE level, operating partners are the ones in charge of building agile executive teams — and they, more than anyone else, know which mitigating levers to pull when it comes to guiding talent to create value. How can operating partners take mitigating factors into consideration in building an agile executive team primed for volatility in both the human and private market?
A new webcast tomorrow featuring a panel of top PE-backed leaders will highlight how private equity firms are attracting, recruiting, and retaining top talent for their investments. A variety of executives will discuss the variables to consider when joining a PE-backed company and how to pivot to the best strategies and biggest challenges when it comes to attracting and keeping great people in the current market.
Among the webcast speakers, Dru Armstrong is chief executive officer of AffiniPay, a financial technology company. She has over 17 years of experience in consumer and product technology development and management. Ms. Armstrong is a proven high growth leader with a history of creating strong customer experiences while fueling technology growth and market expansions. She leads with innovation, diversity and inclusion, and verticalized software.
Hank Boughner joined Dynamo Software Inc. as CEO in late 2017. He leads its management team and defines its vision and long-term strategy. Prior to joining Dynamo Software, Mr. Boughner was president of global solutions for Global Payments Inc. Mr. Boughner has more than 20 years of business, investment and transaction experience within growth markets including technology, tech-enabled services and financial technology/services.
Jiro Okochi is CEO of Tier1 Financial Solutions. He is responsible for all of the day-to-day operations of the company, focusing on growth, scalability and customers care. He has more than 30 years of experience in technology and capital markets. Prior to joining Tier1, Mr. Okoch was CEO and co-founder of Reval, an SaaS provider of treasury and risk management solutions for corporations and banks. He led Reval from start-up to scale with over 600 enterprise customers and 500-plus global employees. Prior to Reval, he worked on the capital markets desks of WestLB, Deutsche Bank, BofA, DKBFP and Kidder Peabody.
As CEO of Modern Hire, Karin Borchert is responsible for driving the company’s science and technology initiatives, the growth of its data-driven hiring platform, and the company’s global operations and strategy. With an extensive background in data strategy, she brings more than 25 years of experience in growing and leading data-driven businesses in the SaaS and information services industries. Previously, Ms. Borchert served as CEO of 1WorldSync, where she led the company’s sale to Battery Ventures in 2019. Previously, she served as executive vice president of client services for Sterling Talent Solutions.
Jim Urquhart, managing director of FinTech for The Bowdoin Group, will serve as the webcast host. He has 13 years of team building and executive search experience, collaborating with founders, executive teams, and investors to set and execute against critical hiring plans, ranging from VP roles to their C-level teams. Mr. Urquhart specializes in working with VC-backed SaaS and data analytics companies with a special emphasis on reg-tech, insur-tech and AI/ML. He is responsible for developing and managing client relationships and executive searches in Boston, New York City, San Francisco and elsewhere in the U.S.
With over a decade of experience in the fintech space, Mr. Urquhart understands the fast-paced environment, and the nuances, skill-sets, and expertise it takes for company executives to drive success. He works closely with the fintech ecosystem, including investors and organizations like FinTech Sandbox, and has provided insights through panel discussions and editorial contributions to the space.
Mr. Urquhart recently sat down with Hunt Scanlon Media to discuss some of the topics that the webcast will address. Following are excerpts from that discussion.
Jim, what are the biggest challenges in finding top talent in today’s business climate?
Finding talent isn’t the biggest challenge; it’s capturing attention as well as both getting and keeping candidates engaged throughout the process. The market is very competitive, and every firm is looking for some version of the same person.
“The demand for talent across the private equity sector is as high as we’ve seen it in recent years. With soaring levels of private capital on the sidelines, that precedes the need to upgrade senior talent and build/expand teams.”
How have hiring managers and recruiters adjusted?
Some adjustments from executives and investors include being extra thoughtful regarding requirements vs. preferred experience. Can we open up the talent pool, but not sacrifice the caliber of the candidate if we open up the specs? Also, modifying interview processes to be more “lightweight.”
Can you provide an overview of the current demand for senior talent in the PE sector?
The demand for talent across the private equity sector is as high as we’ve seen it in recent years. With soaring levels of private capital on the sidelines, that precedes the need to upgrade senior talent and build/expand teams. Companies are wanting to move even faster and still want the best of the best.
Join us Wednesday at 12PM EST for this exclusive second installment of The Bowdoin Group PE webcast series. To sign up click here!
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; and Stephen Sawicki, Managing Editor – Hunt Scanlon Media