Now's the time to consider recruitment & retention, by Sharon Chammah

30 August 2018 | Sharon Chammah, Head of Research

 

 

No matter how old you get, September will remind you of new uniforms and books. After years of preparing ourselves to return to school and study, we are programmed to view the beginning of this month as a fresh start. It’s certainly when we see the biggest upsurge in enquiries from candidates, making September the perfect time to think about recruitment and retention.

Have your pick of candidates

According to data collected by our research teams, many analysts working in investment banking receive their bonuses in August (see our Banking Bonus Schedule below). It’s likely that many wait for this pay boost before thinking about the next step in their careers. So, if you’re on the look-out for talented investment bankers to join your fund, September is when the candidate pool is busiest.

Banking Bonus Schedule September 2018

Keep your team together

Private equity firms tend to slow to a near halt during August as the summer holidays whisk many off to sunnier climates. Be aware that your team members may take time on far-flung beaches to reflect on their own careers. To ensure you keep them engaged, it’s important to create a strong sense of purpose when everyone returns in September. Take advantage of the break to refocus refreshed minds on team priorities and goals.

There’s a good argument for conducting employee reviews early in the autumn, rather than pushing them to later in the year. It may be that reminding a good team member of their strengths and their career path within your fund could keep their wandering eyes away from the job boards.

Plan ahead

We’ve been in this business for 20 years and, while there will be unexpected heatwaves and frosts along the way, the seasons tend to stay the same. Make sure your recruitment plans take advantage of these seasonal trends by speaking to our consultants.

About the author

With nearly 10 years experience in M&A before joining PER, Sharon has great insight into the investment banking sector as well as private equity. She fosters strong relationships with private equity career seekers at all levels, providing advice and information to guide their search.

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