by Jake Stiles and David Portney
Stiles Associates
At Stiles Associates, we’re always listening to our clients about their issues and pain points. One that we’re now hearing is related to an urgent need for top talent in private equity backed manufacturing companies.
Here are the five Ws and how on the latest trend:
Who’s hiring?
Small to mid-size PE firms and their portfolio manufacturing companies.
Who’s being sought after?
Individuals with experience in both large and small companies who aren’t afraid to roll up their sleeves and get their hands dirty. In addition to their skill set of establishing systems and protocols, these working managers are adept at developing a team around them.
One thing to keep in mind is that not everyone is cut out to work in the private equity space, even if they have all the necessary skills. These companies are searching for data-driven managers who thrive in fast-paced environments, and sometimes individuals struggle in those surroundings. Earlier this year, we shared more information on traits that make successful private equity employees.
What’s trending?
Continuing over the last several years as PE firms have been expanding their portfolios, many recently acquired companies don’t have all necessary systems or skill sets in place to maximize productivity and achieve more aggressive goals from new ownership.
When are they hiring?
ASAP. For the latest roles Stiles is filling on behalf of these clients, visit our Assignments page.
Where is this happening?
Across much of the globe, but especially in North America and the United States.
Why are PE backed small to mid-sized manufacturing companies having these issues?
Private equity is in a period of record-breaking growth in company acquisition, and with it, a high demand for top talent. Before acquisition, many small organizations relied on tribal knowledge from their long-tenured employees. As companies grow, that knowledge is more heavily relied upon to carry them through, making it easy to forego or limit the use of formal systems and processes.
How are PE firms addressing the issue?
While many conduct searches on their own using internal hiring practices, partnering with executive search firms, like Stiles, has proven to pay high dividends. Search firms have built-in networks of thousands – if not tens of thousands – of A-level leaders at their fingertips with verified references. Though these firms charge a fee, the cost is minimal compared to the time taken to find unproven talent.
If you’d like to speak with a Stiles teammate about your hiring needs, fill out this brief form.
Learn more about how manufacturing companies can attract and retain their top leaders.