Vital Signs - Q4 2023 - Nap time...

Hi Gang,

Well… we made it. It has been a rollercoaster of a year – not a fun time to be a CEO. Public company CEOs have been pummeled – our conversations have felt more like therapy sessions than business discussions. Private company CEOs haven’t had it much easier. The SVB meltdown added additional shade to an already chilly fundraising environment. All of this has translated into challenging circumstances on the talent front. Here are a few themes we’re seeing in the market:

• VCs have come to us looking for a Hail Mary… “We need a CEO who can immediately raise money, whip a team into shape, and get things back on the rails.”

• Candidates don’t want to move or commute. “We worked remotely during the pandemic; why can’t we keep doing that?” (Companies are saying, “Because we need you here. We need leadership in the building.”)

• We are seeing a significant interest in combo CFO/CBO candidates as companies hedge their bets against the 2024 IPO market.

• Investors are cranky and exhausted (sorry, y’all, but you know you are!). Many are sitting on 5, 8, 10 boards, spread way too thin, and navigating rocky portco dynamics.

• Despite the headlines, it’s still extremely competitive for C-suite leaders. Companies are competing for ‘been there/done that’ talent and less open to step-up candidates

None of this is especially surprising. In October of 2021, our Pulse Check survey results indicated a problem emerging. High levels of productivity were coming at the expense of strategic planning and cohesiveness. People were grinding, but fissures were developing on management teams. Young C-suite leaders are facing headwinds for the first time in their professional careers. If this sounds familiar, I’d love to hear from you. We’ve deployed a number of different solutions (not just search) to help leaders evolve.

For now… let’s enjoy the hell out of this break. :) I look forward to seeing you in 2024!

Be well!

Jackie