Leading the Charge: Navigating Leadership Talent Trends in Healthcare Software

by Zaneb Rashid | Feb 28, 2024 | Blog

Leading the Charge: Navigating Leadership Talent Trends in Healthcare Software

AUTHORED BY ZANEB RASHID

In an era where healthcare meets high-tech at an ever-accelerating pace, the landscape of healthcare information technology (HCIT) is witnessing transformative shifts.

These shifts are not just about the technologies themselves but also about the visionary leaders behind these innovations.

With our specialization in private equity backed software, we see some critical trends in play that can directly impact leadership talent decisions in the sector.

The Pulse of Healthcare Software Technology Trends

The Ebb and Flow of Private Equity

Despite a notable downturn in the volume and value of private equity deals in the HCIT sector throughout 2023, we see signs the tides are turning, and we may be on the cusp of a return to deal flow. This change signals a dynamic market ripe for strategic investment and growth, but it also underscores the need for agile and forward-thinking leadership to navigate these waters.

Generative AI: The New Frontier

Generative AI is revolutionizing patient engagement, coordination, and digital health, heralding a new era of process improvements. Its impact spans the entirety of the healthcare sector, offering unprecedented opportunities for innovation and efficiency. The implications for leadership? A pressing demand for visionaries who can leverage AI to redefine healthcare delivery and outcomes.

Despite a downturn in private equity deals in HCIT, signs suggest a return to deal flow, highlighting the need for agile leadership in a dynamic market.

The M&A Landscape: A Slowdown with a Twist

Mergers and acquisitions (M&A) activity has decelerated in the last few quarters, falling to its lowest point globally in 2023 per Reuters. While this looks like a plateau in the transformative power of M&A within the expansive realm of HCIT platforms, this slowdown isn’t an end but a pivot. It’s an evolution towards more strategic and impactful transactions, even if it means lower deal volume. We see this notion playing out in the rise of deal volumes in sub sectors such as pharma and MedTech. The nuances in this segment necessitate leaders who can navigate and leverage these changes to their advantage.

Leadership Talent Trends in HCIT

The Rise of the Chief People Officer (CPO/CHRO)

The most critical driver of value creation is people, and nowhere is this truer than in the fast-evolving healthcare software industry. Amidst labor shortages and a wave of executives eyeing industry transitions, the role of Chief People Officer or Chief Human Resources Officer has never been more vital.

These are the champions of culture, the architects of talent acquisition and retention strategies, tasked with ensuring that the organization not only attracts but also nurtures and retains the brightest minds in the industry.

Chief Technology/Information Officer: Steering the Ship

In the quest to harness the full potential of generative AI and other technological marvels, the Chief Technology Officer (CTO) or Chief Information Officer (CIO) emerges as the linchpin. This role transcends traditional IT leadership, requiring a blend of visionary foresight, technological prowess, and strategic acumen. The CTO/CIO of the future is not just a tech manager but a business innovator, driving digital transformation that aligns with and propels the company’s overarching goals.

The Critical Need for Post-Merger Integration (PMI) Expertise

Despite a lull in M&A activities, the complexity and significance of these transactions have not diminished. Enter the specialists in Post-Merger Integration (PMI) – the unsung heroes ensuring that mergers and acquisitions translate into seamless transitions, optimized resources, and ultimately, enhanced value creation.

In a landscape where strategic consolidations can redefine market leadership overnight, PMI experts are invaluable, orchestrating the integration dance with precision and strategic insight.

Mission-Critical Leadership Decisions

Making leadership decisions in a healthcare IT company?

Get in touch today to discuss your leadership needs.

Bespoke Partners Named in Top 10 of the “Top 49 Retained Executive Search” 2-Years Running by C-Suite CV Secure.

top 49 search firms 2 years in a row - bespoke partners

Go-to-Market Planning for 2024: Laying the Groundwork for Growth

by Matt Sommi, Rahul Puri | Feb 13, 2024 | Alliance, Blog

Go-to-Market Planning for 2024: Laying the Groundwork for Growth

By Matt Sommi, Bespoke Partners, and Rahul Puri, SBI

The slowdown in corporate spending due to economic and geopolitical uncertainties has prompted many companies to rethink their growth strategies for the near and distant future.

When asked during a recent SBI Growth Forum hosted for sales leaders of companies with $250M in revenue or higher, those responding unanimously said that they wished they had taken action sooner relative to talent and productivity improvement initiatives.

The team at Bespoke Partners brings a unique process and data-driven insights to recruiting Go-to-Market leaders and executive teams for the software and SaaS industry.

SBI brings expertise to help companies achieve growth with superior GTM / sales processes and marketing strategies.

Given the uncertainty gripping markets and the prospect of continued market headwinds, the chief question for strategic planning is how to maximize the potential to grow when the market recovery occurs. Early indicators suggest the recovery might have started with inflation down and GDP higher than forecasted. The time to take action on talent and productivity improvement initiatives that will drive growth in 2024 is now – whether that be capital efficient growth or a more aggressive growth strategy.

GTM Leadership Trends and Insights

GTM leaders such as sales, marketing, and revenue executives naturally play a pivotal role in market expansion and customer acquisition.

Bespoke Partners places high-impact leaders in software and SaaS companies with a specialization in private equity backed companies. For our executive search initiatives, the firm analyzes data on thousands of executives at hundreds of portfolio companies to identify trends and insights for staying ahead in the talent market.

Trend 1: GTM Turnover is consistently among highest of the C-Suite

One trend is that GTM functions are the C-suite roles that are turning over the most in today’s private equity portfolio companies. For example, GTM turnover spiked at one point in mid 2023, doubling the rate of other functions.

The primary reason for the high rate of GTM turnover is the push by many firms to recruit leaders who could drive capital-efficient growth, or grow revenues without significantly increasing expenses.

A common approach in some sectors in years past was to pursue a “growth at all costs” strategy. This was based on the notion that high customer acquisition costs are acceptable because winning market share matters most when you can land recurring revenue engagements with customers. The strategy assumes that once customers are secured, subscriptions are in place, and churn is controlled, profitability will follow.

The issue with this strategy is that when market growth slows and competition intensifies, controlling customer churn becomes challenging.

The alternative is to focus the GTM operation for your company around profitable growth and recruit the GTM leaders who know how use capital more efficiently. The strategy calls for orchestrating growth that achieves higher margins earlier in the customer lifecycle, then using the additional profit to invest in more growth initiatives.

The key management objective in creating profitable growth is to identify customers for whom the value proposition of your offering is compelling enough to generate the highest margin engagements with the lowest cost of sales. You then identify and optimize the most efficient sales and marketing activities for engaging these customers. Today’s talent market is especially tight for GTM leaders who have exceptional track records in planning and executing this type of profitable growth.

Trend 2: Rise of the CRO

Another trend in the GTM function is that the Chief Revenue Officer (CRO) has become more prevalent in the C-suites of many companies.

The CRO can be generally described as leading both the sales and marketing functions, and in many cases these roles are also responsible for customer success and generation of recurring revenue. An ideal CRO candidate has the strategic outlook and analytical abilities that enable them to discover new avenues for sales and untapped markets.

By the time companies reach the 500-employee mark, the majority will have a CRO in place, approximately the same rate at which Chief Marketing Officers appear in the C-suite.

In today’s climate, many CROs are considering how to generate the most revenue from the current customer base, looking for ways to generate revenue with a lower cost of sales and achieve more profitable growth. These CROs are especially mindful of the need to maintain customer relationships after the initial sale, to look for expansion opportunities.

Another GTM leader — the Chief Customer Success Officer (CCSO) — has also become increasingly important for cultivating enduring customer relationships especially in a recurring revenue context. Read more about GTM leadership trends as well as other C-suite trends in Bespoke’s Private Equity Talent Report.

Growth Sector Executive Search

Bespoke is the only firm focused solely on recruiting executives for private capital software portfolio companies.

Learn More

Sales Program Planning: Forward-Looking Strategies for Growth

SBI is committed to ensuring successful GTM strategies and driving growth. After evaluating empirical and anecdotal research from the previous 18 months, SBI believes it’s time to shift from a mindset of doing “more with less” and into a mindset of reinvesting in overall company growth.

Companies spent most of 2023 evaluating cost and processes and protecting company profitability by pulling back. But there are massive commercial productivity gains to be captured through reinvesting in growth.

SBI’s most recent CEO Value Creation Pulse report found an even split between CEOs who are looking at 2024 as a year to drive growth without increasing expenses and those who are considering increasing expenses to drive growth.

As market uncertainties continue, many companies are turning to driving seller productivity and customer marketing strategies to maximize profitable growth. This strategy calls for a focus to market to existing customers in an effort to increase wallet share and generate cross-sell and up-sell revenue. In addition, it also first tries to better understand how sellers (SDR, BDR, Sales reps, CSM, Solution consultants, etc.) sell (fact based) and then tailor programs to drive productivity.

To be successful, it is important to understand the customer journey and to use customer data to understand friction areas. Are customers churning away at a certain point? Is there evidence of dissatisfaction with some aspect of the experience of consuming your offering? Are NPS scores low for a particular segment of your customer base?

Gathering such customer feedback enhances their experience, fostering loyalty and reducing churn. Such insight reveals opportunities to offer new solutions for unmet needs, deepening customer relationships. A contented customer base transcends mere satisfaction: it evolves into a powerful catalyst for business growth. Satisfied customers become enthusiastic advocates, creating a robust referral base and advocacy network. This not only bolsters your company’s reputation but also opens avenues for organic, word-of-mouth growth. This better positions the company to tap the full potential of an existing customer base and create sustainable growth.

Laying the Growth Groundwork with SBI and Bespoke Partners

While market headwinds continue to dampen growth prospects, companies are laying the groundwork in GTM talent and strategies to capitalize on the return to growth.

To effectively anticipate GTM leadership trends and set the stage for growth in 2024, we believe companies should operate proactively and prepare now. This includes identifying and investing in high-impact GTM leaders, refining customer relationship strategies, and redefining their value creation thesis for the upcoming year. By strategically addressing these aspects, businesses can position themselves to leverage the changing market conditions to their benefit and realize their growth potential.

About SBI

SBI builds multi-year value creation plans anchored to strategic bets and ongoing execution for GTM leaders to make the right decisions and get results quickly.

Connect with SBI to learn more:

About Bespoke Partners

Bespoke Partners can help companies seize emerging opportunities by staying ahead in the software and SaaS leadership market.

Connect with Bespoke Partners to learn more:

Bespoke Partners Named in Top 10 of the “Top 49 Retained Executive Search” 2-Years Running by C-Suite CV Secure.

Author:
Matt Sommi
Senior Vice President

Based in Philadelphia, Matt helps lead Bespoke’s client engagement efforts across the firm’s suite of services.

Prior to joining Bespoke, Matt spent 8 years in research and business development at GLG, supporting private equity due diligence efforts and building relationships with GLG’s middle market private equity firms.

Author:
Rahul Puri
Partner – Growth & Private Equity Practice Co-Head
SBI, The Growth Advisory

Strategic leader responsible for driving initiatives from ideation to execution across all functions driving revenue at SBI Growth Advisory. Consistent performer and over achiever in driving sales, client relationship, operational and productivity improvements and building teams.

Why Executive Searches Fail – and How to Avoid the Pitfalls

by Katherine Baker | Feb 8, 2024 | Blog

Why Executive Searches Fail – and How to Avoid the Pitfalls

Authored By Katherine Baker

A failed executive search can be an expensive mistake for a company or sponsor to make.

Consider the time and fees wasted on the wrong executives and the lost growth execution runway. Think about the confused and demoralized staff.

A search might fail in the sense that you spend many months looking for executives but, in the end, do not successfully hire a candidate.

Or a search might fail in the sense that you hire a promising candidate, only to find that you have mis-hired and the chosen candidate is actually not a fit.

In our experience evaluating tens of thousands of executives and recruiting more than 1,000 leaders for technology and SaaS companies, we see a range of reasons that these mistakes happen.

Mistakes Made During the Search Process

Lack of Stakeholder Engagement

Not involving key stakeholders in the company during the process will lead to a lack of buy-in for the chosen candidate. That can completely derail or lengthen the process.

Lack of Scorecarding

Defining the scorecard with the key stakeholders is critical to drive alignment through the search. Once defined, the scorecard is an internal document used to assess executives and prioritize the factors that are most important to the company.

If the scorecard is not clearly defined or understood by everyone, the judgments made in the process will be misaligned.

Rigid Adherence to the Scorecard

A search that is fixated on finding the “perfect” candidate profile without considering alternatives can become extended and even fail altogether if the “unicorn” candidate isn’t available. Instead, flexing on some parts of the scorecard can broaden the talent pool, drive top of funnel, and reveal diverse, dark horse executives who can be highly successful.

Inadequate Process

Upfront alignment on process throughout the search is important. This leads to consistency throughout the search, ensuring key stakeholders know their part in the process and are committed to executing it.

Market Misunderstandings

Talent is a market and not appreciating the changing market conditions and trends can lead to unrealistic expectations, especially when you consider compensation. Like in any market, supply and demand shape the compensation levels for executives.

Poorly Defined Role

If the role is not clearly defined or evolves radically during the search process, the search committee and candidates may be confused or have radically different understandings of what is expected in the position.

Ineffective Communication

Like in every business process, poor communication during the recruitment process can lead to misunderstandings or misinterpretations, delays, and missed opportunities to land great candidates. A high sense of urgency from all parties is important to keep momentum.

Inadequate Referencing

Surprisingly, there are many companies, search firms, and sponsors who do not perform in-depth referencing to gather a complete dataset and 360-degree view. Maybe it seems to be enough to find an executive who has a few verifiable career highlights, like great exits or acquisitions or growth. But this misses a huge range of factors that are critical to a leader’s success, such as leadership skills and style, teamwork ability, communication skills and much more.

Tailored Talent: Private Equity People & Talent Trends

Get a glimpse of the private equity people and talent market outlook from industry leaders in quick hit 10 minute interviews.

Watch or Listen Now

Problems That Emerge After a Candidate Has Been Hired

Misalignment of Expectations & Strategy

A lack of clear understanding between the hiring company and the executive about the role’s responsibilities and objectives can quickly become a showstopper.

Poor Culture Fit

A mismatch between the executive’s style and values and the company’s culture will not only lead the executive to fail but can be severely damaging to staff morale and the culture. Conducting behavioral assessments are highly recommended in the search process.

Overemphasis on Technical Skills

Focusing too much on technical qualifications and not enough on leadership qualities, “soft skills” and cultural fit. For example, it’s possible to over-index on a candidate’s great strategy acumen, but not appreciate that her leadership style is out of sync with the company culture.

Insufficient Candidate Evaluation

It seems obvious that thorough evaluation is a must. But surprising numbers of hiring companies rush the process and don’t thoroughly vet candidates for their skills, experience, leadership style, and fit for the role. For example, we highly recommend case study style interviews in the search process. They can be time-consuming to arrange and execute, but they reveal amazing insights into leadership style and aptitudes.

Inadequate Onboarding and Support

A seasoned executive will most likely bring their own playbook of strategies and processes to the new position. But there are many other aspects of onboarding that can set up the executive for failure.

A thoughtful and thorough onboarding process will integrate the candidate effectively and enable them to start executing earlier.

How to Avoid the Pitfalls

We have built the Bespoke Partners recruiting process based on longstanding experience with the issues I have discussed here. There are many facets to the process, but a few key areas illustrate how a Bespoke search will enable you to avoid the pitfalls.

Advanced Scorecarding

Every search starts with careful calibration to reach shared understanding of what matters most in the scorecard. Our scorecarding technique allows us to consider where parameters can be flexed to broaden the talent pool.

For example, step-up candidates who are ready to take a more senior role can often be missed by rigid scorecarding. Our scorecarding and research efforts cases the widest possible net for applicable candidates. Using our in-depth candidate knowledge, and an AI driven research tool we can quickly identify those who are not only ready to step into the role but have the highest probability of reaching the investment thesis.

Proven Process

Our searches follow a well-defined, proven process, with specific check-ins and reviews that give you unmatched visibility into search progress. We base this on our experience with thousands of successful searches, combining best practices into an efficient workflow.

The result is predictability, clear ownership and responsibility, and timelines to keep everything on track.

Deep Validation

Two features of a Bespoke search provide levels of insight into a candidate you can get nowhere else.

First, our backchannel referencing process investigates candidate backgrounds to validate their achievements and capabilities. The true value here lies in our existing network and ability to get in contact with previous managers, peers and employees to gather an unpolished and 360 view to confirm everything we know about the candidate.

Second, our process can incorporate behavioral assessments and leadership evaluation techniques. These can yield insight into a candidate’s personality and how their style will fit into the corporate culture. For example, on a recent CEO search a client was apprehensive that their front runner candidate would be stepping down in scale. Our assessments highlighted characteristics such as humility, agility, a true desire to be hands-on and a passion for mentoring. When these traits were confirmed by references and aligned with other data points collected throughout the search, the client sealed the deal, and the board was extremely pleased with the placed candidate’s performance in the first ninety days.

Conclusion

In the end, the pitfalls that can cause a search to fail are well known and can be easily avoided with the right process and the right search partner.

Bespoke Partners Named in Top 10 of the “Top 49 Retained Executive Search” 2-Years Running by C-Suite CV Secure.

Author:
Katherine Baker
Partner, Co-lead of CEO Practice

Katherine helps build executive teams for private equity backed software & tech companies. Over the last 6 years Katherine has completed over 100 searches for firms such as WCAS, Francisco Partners, Clearlake Capital, Insight Partners, TA Associates, Providence Equity, and more.

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Launching Today: Enhanced Specialization Brings Transformative Leaders to Growth Equity Stage Companies

by Eric Walczykowski, Adam Boone | Feb 7, 2024 | Blog

Launching Today: Enhanced Specialization Brings Transformative Leaders to Growth Equity Stage Companies

By Eric Walczykowski, Adam Boone

If growth is the goal, then top talent is a must.

Today we build upon our long-standing track record of recruiting high-impact, growth-oriented executives.

We have launched an enhanced specialization in Growth Equity stage software and SaaS executive search.

The enhanced focus across all our functional practices provides clients with unmatched access to leaders who execute on growth strategies for value creation.

We are building on a solid foundation of success.

To date, we have placed more than 300 senior executives across the spectrum of SaaS and software companies, including cybersecurity, fintech, edtech, health tech, marketplaces and retail, AI/ML, adtech and beyond.

We have placed leaders at market leading portfolio companies with Growth Equity oriented sponsors including Banneker, Battery, Bessemer Venture Partners, Cove Hill, Insight and Norwest Venture Partners, among many more.

Our specialization on Growth Equity stage companies is fueled by a clear vision: talent is the lever for growth and value creation and our mission is to give clients a new level of visibility and access to this talent.

Growth Sector Executive Search

Bespoke is the only firm focused solely on recruiting executives for private capital software portfolio companies.

Learn More

We have consistently been at the forefront of executive search in the software and SaaS sectors. This new enhanced focus on Growth Equity extends our core competencies, recognizing the crucial need for profitable and efficient growth in today’s competitive landscape.

Gone is the era when “grow at all costs” was the best strategy. Leaders today need to be able to grow their companies with greater capital efficiency. They must drive growth in both the top and bottom line.

Our commitment goes beyond recruiting and placements.

It is about offering our clients not just leaders but visionaries who can adeptly scale software and SaaS companies while tackling the unique challenges and opportunities of their unique sectors.

We have played a pivotal role in facilitating smooth founder transitions and building robust executive teams to elevate companies to the next level. These initiatives empower Growth Equity stage companies to scale and innovate with efficiency.

Join us as we embark on this new chapter.

Our enhanced specialization is a commitment to deepening our impact on the leadership landscape in the software and SaaS ecosystem. Stay tuned for more insights and developments as we work closely with our Growth Equity partners to achieve their investment thesis goals.

Bespoke Partners Named in Top 10 of the “Top 49 Retained Executive Search” 2-Years Running by C-Suite CV Secure.

Author:
Eric Walczykowski
Chief Executive Officer

Eric is passionate about building high-performing teams that value doing their best, working together, overcoming adversity and learning.

As a proven growth executive, Eric has served as CEO, President, Board Member, Investor and Advisor for technology companies that achieved over $4.5B in successful exits.

Eric brings to Bespoke Partners significant professional services experience from Deloitte and Andersen, as well as the high-growth client executive perspective for private equity-backed technology companies.

Eric earned an MBA from the Kellogg School of Management at Northwestern University and a BS in Business from Fresno State University.

Outside of work, Eric enjoys spending time with family, coaching baseball, travel, attending live events and sipping good wine.

Author:
Adam Boone
Chief Marketing Officer

Boone has led marketing, demand generation, branding, product management, services marketing, or alliances marketing programs for numerous successful companies including Avaya-acquisition Sipera, Sequoia start-up Syndesis, Subex, CoManage, and others. He has driven joint marketing programs and go-to-market initiatives with iconic industry leaders including Microsoft, IBM, GE, AT&T, Oracle, Comcast, Cisco, Ciena and Samsung.

Boone holds an MBA in Business Strategy from the WP Carey School of Business at Arizona State University and completed the Competitive Marketing Strategy Program at the Wharton School at the University of Pennsylvania.

In his personal time, Boone enjoys travel, fine food and wine, mountain biking, playing and listening to music, and movies.

Navigating the Future of Talent: A Q&A with Julie Catalano, Bespoke Partners’ Chief People Officer

by Julie Catalano | Feb 1, 2024 | Blog, EVP

Navigating the Future of Talent: A Q&A with Julie Catalano, Bespoke Partners’ Chief People Officer

Authored By Julie Catalano

Meet Bespoke Partners Chief People Officer, Julie Catalano:

With a robust background spanning more than 20 years in senior leadership roles in human resources, organizational culture, and business strategy, Julie Catalano is a distinguished figure in her field. Having previously served as Vice President, Global Human Resources at Vertex Inc. and held key leadership positions at Vanguard, Julie’s wealth of experience positions her as an invaluable guide for scaling a world-class team and fostering a high-performance culture. In this Q&A session, we delve into Julie’s insights on the talent market for 2024, the significance of integrated talent management and strategies for maintaining and evolving company culture amid market fluctuations.

Q: What is your personal outlook for the talent market for 2024?

A: As we step into 2024, I foresee a talent market that is not just dynamic but also transformative, particularly in sectors like software and SaaS.

The pace of technological advancement coupled with the push for digital transformation has escalated the demand for professionals who are agile, tech-forward, and can adeptly navigate the evolving business terrain.

We’re looking at a talent landscape where the premium is on innovative minds and change agents – individuals who don’t just adapt but actively shape the future. Then, you add on the dynamics of remote and hybrid work models and that our recruitment horizon has expanded globally – the hunt for exceptional talent more complex and competitive than ever.

Q: Can you tell us more about integrated talent management and its importance?

A: Integrated Talent Management is essentially about orchestrating our talent strategies – from acquisition and development to retention and succession planning – in harmony with our overarching business objectives. This integration is crucial; it transcends traditional recruitment to create a talent ecosystem that propels business growth and innovation.

It’s about cultivating a workforce that is deeply connected with our vision and culture. This is a kind of synergy that’s not just beneficial but essential for long-term success.

This approach doesn’t only ensure we have the right skills in the right places; it fosters a culture of engagement, commitment, and shared purpose, which is the bedrock of any successful enterprise.

Tailored Talent: Private Equity People & Talent Trends

Get a glimpse of the private equity people and talent market outlook from industry leaders in quick hit 10 minute interviews.

Watch or Listen Now

Q: Regarding the intersection of human compassion and business insight, can you give examples of how this is reflected in an executive’s day-to-day?

A: Absolutely, Eric. This intersection comes to life in numerous ways. Consider an executive who uses emotional intelligence to steer their team through a challenging project, maintaining morale and fostering resilience. Or think about initiatives that prioritize work-life balance, acknowledging that well-being directly translates to productivity. It’s about making decisions that reflect a deep understanding of the human element in business.

When leaders prioritize their team’s well-being, they’re not just nurturing a happier workforce; they’re cultivating a more dedicated, creative, and ultimately more productive team.

This thoughtful approach to leadership invariably leads to long-term dividends, both in human and financial terms.

Q: How do you view maintaining and evolving company culture amidst market fluctuations?

A: Navigating through market highs and lows, company culture should be our anchor and our sail. It requires a delicate balance of steadfast adherence to core values and the agility to adapt to new challenges. This means consistently communicating our mission and values, while also being open to evolving our cultural practices to support our team’s changing needs and business growth. It’s about ensuring that our core ethos remains unshaken, even as we adapt and evolve to meet the demands of an ever-changing market landscape.

Conclusion

Julie Catalano’s insights shine a spotlight on the valuable perspectives that contribute to Bespoke Partners’ strategic prowess in scaling businesses through integrated talent management. Delving into her observations on the 2024 talent market, her focus on the synergy between human compassion and business insight, and her strategic approach to nurturing company culture, Julie’s contributions highlight Bespoke as a trusted guide in the dynamic landscape of talent acquisition, development, and retention. The depth of Julie’s insights makes her a key asset for organizations aiming to construct high-performance teams and foster growth within the ever-evolving business environment.

Author:
Julie Catalano
Chief People Officer

Julie brings more than 20 years of senior leadership in human resources, organizational culture, and business strategy. Prior to Bespoke, she served as Vice President, Global Human Resources at Vertex Inc. and has held multiple key leadership roles across the HR disciplines at Vanguard.

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AI and ML in Executive Searches: Driving ‘Human Capital Alpha’

by Eric Walczykowski, Adam Boone | Jan 16, 2024 | Blog

AI and ML in Executive Searches: Driving ‘Human Capital Alpha’

By Eric Walczykowski, Adam Boone

Achieving outsized returns requires outside-the-box thinking. That’s why our data-driven executive search process has incorporated Artificial Intelligence and Machine Learning since long before the current wave of hype on the topic began.

Our clients work with us to maximize the impact of talent on software and SaaS companies and achieve “alpha” – the exceptional return-on-investment that high-impact leadership can produce with effective value creation.

Our data-driven search process is the key to achieving “human capital alpha.”

As we look ahead to 2024 and beyond, we are anticipating how AI and ML will evolve even further to enhance the quality and depth of candidate data available for our clients to find their next breakthrough leader.

Data-Driven Search

Before AI can have an impact on the executive search process, the process itself must become data driven. This is not as simple as it sounds.

There’s a direct parallel between the way traditional executive search is conducted and the professional baseball scouts that Michael Lewis described in his book Moneyball. Scouts traditionally went with their gut instincts about a prospective player’s potential. Lewis profiled how the Oakland A’s instead introduced data analytics to assess prospective players. As a result the team found it could identify non-obvious players who could make a powerful impact and produce more wins.

ai conversation Executive search today offers a direct parallel to the data revolution in professional baseball. Executive recruiters have traditionally placed an emphasis on “gut instinct” and extensive personal networks. When we launched our Search 2.0 process three years ago, we revolutionized executive recruiting by harnessing the vast amounts of data available in today’s business environment.

AI Deepens the Data Pool

AI plays a pivotal role in that search process by allowing us to make more comprehensive assessments of potential candidates, supplemented by data that may have been overlooked or discounted in previous searches.

In today’s digital era, there’s a wealth of information available to assess a potential hire, which we call the candidate’s digital footprint. From public to private sources, ranging from LinkedIn activities to proprietary performance insights and company data, these data points paint a comprehensive picture of a candidate’s skills and capabilities.

Our process taps AI to broaden and deepen this data set and while at the same time allowing our team to pinpoint the relevant details that can reveal a candidate’s potential.

From this focused set of data, we craft a comprehensive candidate profile that provides a clear understanding of the candidate’s track record of success and leadership aptitude. And our AI tools allow us to generate these detailed profiles for the many thousands of high-caliber candidates in our network.

The Future of Search is Now: Technology Disruption in Executive Recruiting

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Finding the Unexpected

Our analytics tools are especially useful for spotting patterns and insights that will go unnoticed or unappreciated in traditional executive search. This includes uncovering potentially strong candidates from different market segments or functional roles. For example, we can identify step-up candidates who were successful at lower level roles and are ready to take the top job.

We uncover candidates who might not be obvious choices initially, or candidates who possess relevant experience that may not be immediately apparent in their resumes or their LinkedIn profiles.

Over our many years of conducting thousands of executive searches for private equity-backed software and SaaS companies, we have curated a network of proven CEO, Finance, Go-to-Market, Product, and People leaders who have been vetted for their ability to empower investment theses and drive growth and achieve human capital alpha.

Looking for the right executive hire? Leverage Bespoke Partners’ cutting-edge executive search process to find your next C-suite candidate. Contact us to learn more: https://www.bespokepartners.com/contact.

Author:
Eric Walczykowski
Chief Executive Officer

Eric is passionate about building high-performing teams that value doing their best, working together, overcoming adversity and learning.

As a proven growth executive, Eric has served as CEO, President, Board Member, Investor and Advisor for technology companies that achieved over $4.5B in successful exits.

Eric earned an MBA from the Kellogg School of Management at Northwestern University and a BS in Business from Fresno State University.

Outside of work, Eric enjoys spending time with family, coaching baseball, travel, attending live events and sipping good wine.

Author:
Adam Boone
Chief Marketing Officer

In his personal time, Boone enjoys travel, fine food and wine, mountain biking, playing and listening to music, and movies.

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