Private equity firms often hire commercial leaders based on past roles and industry experience, which may not fit the current needs of the business. This leads to hiring "the memory, not the moment," resulting in poor performance for organic growth initiatives.

PE firms often provide rigid scorecards demanding candidates who've performed the exact same role before. This overlooks creative archetypes and "stretch" candidates with raw skills who could deliver superior results, especially as required skill sets rapidly evolve with new technology like AI.

The belief that simply 'hiring the best person' ensures fairness is flawed because human bias is unavoidable. A true merit-based system requires actively engineering bias out of processes through structured interviews, clear job descriptions, and intentionally sourcing from diverse talent pools.

Clients get the best results from search firms when the relationship is a partnership of peers, not a vendor transaction. A great recruiter pushes back on a hiring manager's flawed assumptions or resume biases, bringing candidates to the table that might otherwise be overlooked.

To combat the private equity industry's low success rate with CXO appointments, Speyside Equity uses a two-axis framework. It evaluates executives on their ability to achieve results (the Y-axis) and their personality and competencies to do it the 'right way' (the X-axis), effectively creating a 'no jerks' filter.

The common practice of hiring for "culture fit" creates homogenous teams that stifle creativity and produce the same results. To innovate, actively recruit people who challenge the status quo and think differently. A "culture mismatch" introduces the friction necessary for breakthrough ideas.

Boards often default to replacing outgoing members with identical profiles, like a former CEO. An effective search professional must have the "intestinal fortitude" to challenge this, analyze the board's future strategic gaps, and propose candidates who fill those specific needs, which naturally surfaces more diverse talent.

Don't default to hiring people who have "done the job before," even at another startup. Unconventional hires from different backgrounds (e.g., archaeologists in customer success) can create unique creativity. The priority should be finding the right fit for your company's specific stage and needs, not just checking an experience box.

PE firms often focus on the value creation plan during underwriting but neglect talent assessment. Evaluating the existing team and planning for development or replacement *before* the deal closes leads to better outcomes and avoids later surprises.