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The Hottest Openings; Insightful Commentary

There is an acute shortage of asset managers with 10 to 15 years of experience.

By Anthony J. LoPinto | Updated on August 01, 2006
Perspective

Often the recruitment of senior-level talent involves a national search to cast a net wide enough to develop the best slate of candidates. Except in the largest metro areas, a single-market focus may not produce the results necessary for a critical hire.  However, this poses one of the most significant challenges in the recruiting process, namely, the relocation of a candidate to a new city, and the more senior the individual, the more difficult the situation.  If kids are in high school, that’s a deal-breaker, and if the spouse has a job, that impacts not only income but also replacement jobs in New Town.  Factor in issues such as friends, place of worship, elderly parents and climate.  All of these things are in the mix, stacking the odds strongly against a candidate’s relocation.  A generation ago, a family willingly accepted moving to support the breadwinner’s career.  However, this is not typically the case today, so, before you enter into serious negotiations with a candidate, thoroughly explore the family factors. The alternative could be a rejected offer.

Tony LoPinto is CEO of Equinox Partners, an executive search firm specializing in the real estate industry, and parent company of SelectLeaders.

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