Half of GPs prepared to hire based on video interviews - survey

The "Taking the Temperature" survey comprises the responses of 684 PE professionals and was conducted at the start of April.

PER said in a statement that GPs might be prepared to make job offers based on video interviews to avoid losing promising candidates.

Of the 284 respondents at partner or director level, 24% are continuing with hiring processes as planned but 65% have suspended some or all processes. Some 11% have cancelled all hiring.

Unquote reported in April that the consensus among GPs was that many were still looking to hire, albeit with a clear slowing of momentum in recruitment and the market as a whole. The coronavirus outbreak has not reduced the need to make crucial hires, although GPs and recruiters admit that the hiring process will likely take longer than planned, partly due to the urgent and essential work being carried out by sponsors to support their portfolios' liquidity needs.

In addition, Unquote's conversations with market players revealed that GPs have been addressing the practicalities of welcoming new talent to the firm while working remotely, including more regular catch-ups and virtual social events. CFOs and finance directors may also be in particular demand as the importance of cashflow, cash planning and scenario forecasting grows.

Looking to the future, 84% of the total surveyed in PER's survey expect to see no change in base salary as a consequence of coronavirus. However, 66% said they expect bonuses to decrease and 40% expect the pandemic to have an effect on carried interest.

Participants were also asked whether their firms were making use of the UK government's furlough scheme within their organisation. The greatest use of the scheme is among funds of less than $50m, of which 22% of participants said they had made use of the government grants.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• GPs
• UK / Ireland
• coronavirus
• Recruitment