Professional private equity firms in Denver, CO? Continue Recruiting Even if You Aren’t Hiring! For some, the inherent cost of extending an offer and onboarding a new employee is not feasible at this time. As noted before, no industry or company is immune to the economic reaction to COVID-19, but some have been hit harder than others. However you communicate with your candidates, remember that transparency and honesty are key. Avoid “stringing people along,” if you know you cannot extend an offer now, be honest about it. Nothing travels faster than bad news, and a disgruntled candidate is far more likely to spread the word.
But it can be difficult for leaders to decide what to prioritize, even in the short term. In my discussions with leaders of small and midsize businesses (SMBs) I’ve heard firsthand how they are facing a variety of new challenges from inventory and supply chain shortfalls to employee capacity, facility remediation, and PPE for employees. The following “Priorities Playbook” shares ways SMBs are successfully managing toward new, shorter-term goals by focusing on four key priorities.
Founded in 2009, Spectrum fills a critical void in the marketplace: delivering access to world class talent to entrepreneurial and middle market-sized businesses, many of whom are owned by Private Equity firms. We recruit C-Suite talent for Private Equity firms and Functional Leaders for their Executive Management teams. It takes a certain type of candidate to thrive inside of these less structured and dynamic portfolio companies requiring very hands-on leaders who are doers. Successfully recruiting accomplished A players who have this profile is our core competency. Spectrum has built its entire team and business model around mastering the persuasion and systematic evaluation of these A players who generate significant impact. See extra information on retained executive search Denver.
CEO’s and other Senior Executives rely upon Spectrum to build world class Leadership teams that enable them to successfully execute and fulfill their goals. These executives are hand-selected for their capacity to move at private equity speed and their ability to drive results. We recruit Functional Leaders and Subject Matter Experts who excel at revenue generation, general management, finance, innovation, and operational excellence roles.
Since February, senior executives have increasingly been asking how the pandemic, and now the presumed recession, will affect hiring in 2020. The answer is that it will vary. In any time of economic distress, not every industry slows down. While some companies lay off people, others hire them. As every prior downturn has shown, there is opportunity in chaos, and not just the unethical sort. Of course, hiring, productivity, and retention will likely be more challenging in this time of pandemic and recession. At least for now, there’s a new normal. But even if hiring decreases overall, at most companies there will be pockets of ethical opportunity and business continuity that warrant hiring at certain levels. Again, there is ethical opportunity in chaos. It’s imperative to look for potential leaders as well as rank-and-file employees who have shown they can survive and thrive in uncertain times, and that holds true for current leaders as well. Hiring practices have to adjust accordingly.
Tom co-founded Spectrum Search Partners with Kevin Hahn in 2009. He leads the firm’s business development efforts, manages search assignments, and owns responsibility for several of its clients. He has spent the past 15 years in the human capital business, partnering with Kevin at two executive search firms (DHR International and Tri Worth Solutions), and serving as Chief Sales and Marketing Officer for FASTAFF, a leading travel nursing firm, whom he helped sell to private equity. His passion for helping small and middle market-sized companies grow and maximize their potential with exceptional talent is a big reason why Spectrum was started. Read more information at this website.