Access Point Partners has a deep record of success when selected by client employers to handle their "newly-created" positions. These normally account for a third of the firm's executive search assignments, yet in 2023 newly-created-position search assignments were a majority of searches for which the firm was retained. Here's what they looked liked:
The companies: Mid-cap and private equity portfolio companies.
The level: C-level reporting to a CEO and reports into the C-level functions.
The roles: Heads of Product Development, B2B Sales, and Operations/COO.
The Compensation Levels: $250,000 to $400,000 OTE.
Executive search activities have long been informally associated as indicators of changing current economic conditions and/or companies' preparations for near and mid-term opportunities or challenges. In our experience, the industries in which these newly-created positions reside face either declining market revenues - necessitating investment in new products and services to capture market share growth - or great organic growth opportunities. In fact, each of our assignments reflected these business circumstances.
Candidates who are qualified for newly-created positions, and the circumstances they inherit with their new employers, are unique. They are curious, courageous, confident, and innovative, whether finding white space revenue silos or extracting operational efficiencies. Their current or recent prior employers tapped them for new challenges. Accurate assessment of prospective candidates, many of whom initially are overly attracted to the excitement of the newly-created role and company/market scenario, is fundamental. While many are attracted, few are qualified.
Access Point Partners expects that 2024 will see a continuation of newly-created positions, be they for positive growth initiatives - or out of consolidation of existing roles - or both.