News & Insights

Economic Backdrop

By 2014, the Great Recession was largely behind us and the economy entered a long stretch of steady expansion. Markets climbed, capital was accessible, and low interest rates became the norm. Many began to describe it as a “new normal” of slow but durable growth. Unemployment steadily fell from about 6 percent in 2014 to under 4 percent by 2019, tightening the labor market and raising the premium on experienced financial leadership.

That tightening was felt especially in accounting and finance. As baby boomers began retiring in meaningful numbers, the pipeline behind them was not keeping pace. By the mid-2010s, the profession was also feeling the downstream impact of the 150-hour CPA requirement, which had become standard across most states and added time and cost to the pipeline for new CPAs. By the end of the decade, demand for experienced audit, tax, and finance professionals remained strong, but the supply was increasingly constrained.

Inside the Recruiting Industry

By 2014, recruiting had become meaningfully more digital, and LinkedIn was no longer just a research tool. It had democratized sourcing and name generation in a way the industry had never seen before. In many ways, it expanded the playing field, but it also introduced a new kind of noise and competition.

This was also a period when many new entrants joined the recruiting industry without ever having to learn the more scrappy, phone-driven way of doing the work. Cold-calling and manual research were replaced by InMails, emails, and broad outreach. At the same time, internal talent acquisition teams expanded and further changed expectations. In this environment, clients were reminded that our value goes well beyond generating names. It is in managing a disciplined process and driving successful outcomes. With tighter labor markets and counteroffers becoming routine, execution and closing discipline mattered more than ever.

Featured Placement

In 2018, we recruited Berat Rifati to Heartwood Partners, a Fairfield County-based private equity firm that invests alongside founders, owners, and management teams of small to mid-sized businesses, as Fund Controller. Since joining, Berat has earned multiple promotions and now serves as the firm’s Chief Financial Officer and Chief Compliance Officer.

Berat is one of several professionals Vision Search Partners has recruited into Heartwood Partners over the years. His progression from Fund Controller to CFO and CCO is a source of pride for our firm. It is also a reminder of what we have always believed: our long-term success is tied directly to the success of the people we recruit for the clients we serve.

Coming March 17^th: 2020 to 2022 – COVID, Zoom and Long-Term Relationships