Both sets of clients are active.
On the micro and individual level, we’ve seen two trends that are again very different from what was seen post-GFC:
First – resilience and adaptability. Most of our clients have adjusted fairly seamlessly to operating from home and, conducting the different parts; Of the recruiting value chain in a remote, distanced manner. We have taken briefs, identified and assessed candidates and clients have hired and onboarded people virtually without missing a beat.
Second – a strong sense of positivity and wanting to capitalize on an opportunity. We have seen several senior executives appraising the landscape and thinking that now could also be the time to create a move either to an entrepreneurial risk-taker at the center of a future wave of action or an even bigger firm looking to feature a unique, non-traditional skill set to their team. This increase in interest from top-tier talent is further fueled by the uncertainty around the values of their carry. But the focus seems to be shifting yet again towards the opportunity ahead, rather than the comp structure that was designed to retain talent.
Both trends contrast greatly
With the sense of paralysis and, the fundamental market dislocation that prevailed immediately after the GFC; As activity levels fell off a cliff and uncertainty lingered and lingered, leading to paralysis in the system. International Consulting.
We don’t know what 2021 will bring, and on the economic cost front; It certainly seems that many governments seem to be ‘kicking the can down the road’ and deferring general economic pain. Plenty of questions remain such as:
- How do we deal with year-end compensation?
- What happens to access to leverage?
- How are banks going to deal with the aftermath?
- When do private and public market diverging valuations start to align and make sense again?
But for now, we feel the extra movement, planning, positivity, and sense of opportunity.