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.
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.
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.
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.
