An Executive Recruiter’s Guide to Developing The Best Pricing Talent

An Executive Recruiter’s Guide to Developing The Best Pricing Talent

Pricing functions experienced high exposure to the ‘great resignation.’ The current 40-year high inflationary environment further exacerbates the pricing supply-demand talent gap as organizations lean on pricing teams to support cost and margin pressure strategically. 

Consequently, pricing professionals are accelerating their career journeys and making strategic moves, whether in pricing or tangential functions. 

Winning organizations recognize these trends and proactively foster an influential culture and career development platform to grow and retain talent. Cultures that promote from within and retain talent are more likely to deliver better output that blends pricing expertise with business knowledge. 

Investing in career development has clear value, but the methods companies can use aren’t as obvious. In our experience, many organizations are asking how to build sustained talent development: What are the best practices for talent development? What is the talent development journey across each level?

4 Best Practices For Talent Development

Leading organizations utilize the following best practices to develop their talent.

  1. Transparent Communication and Goal-Setting 

The best pricing leaders start by having cadenced one-on-one meetings with team members. Ideally, these meetings are weekly and bi-weekly for direct reports and monthly for individuals two levels below. 

These meetings can cover work content, feedback, and general reflections on work-life balance. Within a 1- to 2-month span, at least one of these meetings should center around the individual’s career development goals. These conversations should calibrate against position-relevant competencies, discuss career-pathing progress and goals, and align on clear next steps. 

  1. Onboarding and Training 

As previously mentioned in other articles, the best pricing organizations take the strongest overall candidates and compromise on pricing-related experience. These organizations must then commit to codified training content and resources. In addition, new team members should be assigned a peer mentor who can point to available resources and answer questions. 

Content and training should be stored in shared folders and contain precise actions and priorities. Best practice is to divide this information into three knowledge areas: functional, technical & analytical, and institutional. 

Functional knowledge includes overviews on pricing methodologies (e.g., A/B testing best practices, financial impact modeling, etc.) and templates (slides, spreadsheets, tools). 

Technical knowledge will provide tools and systems and their use cases. In addition, storage of common queries, data schemas, dashboards, and other tools should be available. 

Institutional knowledge requires more hands-on support from the peer mentor and supervisor – the peer mentor should be responsible for providing an organizational overview. In contrast, the supervisor is responsible for arranging introductory meetings with peers and business counterparts. 

  1. Continuous Networking 

Many organizations are siloed, and lower-level employees often fail to gain broad exposure. In these instances, the best leaders will take it upon themselves to help their team members network within the organization. 

Inter-organizational networking starts with defining career goals and then identifying the business area and contacts that align with the associate’s interests. From there, it’s the employee’s responsibility to maintain and grow relationships. Leaders should be willing to leverage their network and make warm introductions on behalf of team members.

  1. Career Development Criteria in Leadership Evaluations 

We recommend against evaluating leaders by simplistic metrics such as employee satisfaction scores or simple turnover metrics. Low performers will often reflect their frustration in employee satisfaction surveys or resist accountability from leadership.

Further, turnover metrics can be deceiving. ‘Good turnover’ should be viewed positively: supporting high-performers interested in roles outside their team and coaching low-performers out of the function or organization. 

To better calibrate a leader’s effectiveness as a people manager, we recommend tracking the percentage of employees who have reached career goals or milestones. This requires leaders and team members to document and track these goals, creating mutual incentives.    

The Talent Development Journey Across Levels

Wondering how to develop talent across various seniority levels? Let’s take a look.

Analyst 

Analysts, especially when hired directly from university, will require around 6 months to develop their professional repour and fluid analytical & technical skills. 

Given the availability of internships, analysts should have a basic foundation in Excel and other tools they can leverage to complete sub-tasks within a broader deliverable. 

Over time, analysts are expected to gather information more independently and formulate output when provided templates and initial guidance by more senior staff. Second, analysts must show more impressive resourcefulness and grasp critical functional methodologies and business knowledge.

Senior Analyst 

Senior analysts should have the repetition and resourcefulness to drive deliverables with minimal guidance. Their onboarding should be more expedited than analysts, given more business and analytical experience. 

Over time, senior analysts should be able to complete deliverables end-to-end with a high degree of independence and make meaningful contributions in meetings and presentations. 

Manager & Senior Manager 

Managers should own deliverables end-to-end and have demonstrated the ability to develop relationships with business leaders. Their onboarding should be relatively quick if hired externally, emphasizing addressing institutional knowledge and building repour with business counterparts. 

Over time, managers will become more adept at not simply delivering what leaders ask but instead anticipating needs and follow-up questions while demonstrating comfort with ambiguity. Organizations should be able to see improvement in the following areas: more delegation, reduced iteration cycles, and proactive analyst coaching. 

Directors & VPs 

This cohort should be fully capable of developing broader pricing strategies with senior business leaders and translating more general business objectives into tangible output. They should possess the business acumen and intuition to influence decisions and set prioritization with their teams and senior business leaders. 

Onboarding should emphasize relationship-building with business leaders over technical and analytical training. 

Over time, directors and VPs should build an organization staffed with middle-to-high performers and a growing number of current and former team members. The highest performers will become the most trusted advisors to senior leaders and move into more senior-level roles or shift to other functions for broader exposure. 

Hiring Senior Leaders

Training and developing talent is perhaps the best way to build the leaders of tomorrow. But what about today’s leaders? 

If you need help sourcing senior-level pricing talent for your organization, Jennings Executive would love to help. Contact us today. an-executive-recruiters-guide-to-developing-the-best-pricing-talent

Daniel Wilkinson

Vice President of Strategic Initiatives & Client Success

DANIEL WILKINSON IS THE VICE PRESIDENT OF STRATEGIC INITIATIVES & CLIENT SUCCESS. HE BRINGS OVER TWO DECADES OF EXPERIENCE IN COMMERCIAL AND PRICING STRATEGY, HAVING HELD KEY LEADERSHIP ROLES AT DELTA AIR LINES AND DELTA VACATIONS. HIS CAREER IS MARKED BY A PROVEN TRACK RECORD IN DRIVING SIGNIFICANT BUSINESS TRANSFORMATION THROUGH INNOVATIVE DATA-DRIVEN STRATEGIES, CROSS-FUNCTIONAL TEAM LEADERSHIP, AND ENHANCED PROFITABILITY. DAN’S EXPERTISE IS IN HIS ABILITY TO INTEGRATE DATA ANALYTICS WITH STRATEGIC PLANNING, ENABLING ORGANIZATIONS TO OPTIMIZE THEIR REVENUE MANAGEMENT AND PRICING STRATEGIES IN DYNAMIC MARKET ENVIRONMENTS.

AT DELTA VACATIONS, DAN SERVED AS VICE PRESIDENT OF STRATEGIC BUSINESS/IT PLANNING & REVENUE MANAGEMENT, WHERE HE SUCCESSFULLY LED TEAMS IN DELIVERING SCALABLE TECHNOLOGY SOLUTIONS, DEFINING GO-TO-MARKET STRATEGIES AND DRIVING SIGNIFICANT INCREMENTAL REVENUE AND PROFIT.

DAN RECEIVED A BACHELOR OF SCIENCE FROM TAYLOR UNIVERSITY AND AN MBA WITH A FINANCE CONCENTRATION FROM EMORY UNIVERSITY’S GOIZUETA BUSINESS SCHOOL.

Brian Banister

EXECUTIVE RECRUITER

BRIAN BANISTER IS AN EXECUTIVE RECRUITER AT JENNINGS EXECUTIVE SEARCH. BRIAN HAS A BROAD RANGE OF EXPERIENCE, HAVING WORKED IN STRATEGY & CORPORATE DEVELOPMENT, FINANCIAL PLANNING & ANALYSIS, AND PUBLIC ACCOUNTING ROLES FOR LEADING COMPANIES AND CLIENTS IN THE HOSPITALITY, REAL ESTATE, MANAGEMENT CONSULTING, AND TECHNOLOGY, MEDIA, AND TELECOM (TMT) SECTORS. HE BEGAN HIS CAREER AT DELOITTE & TOUCHE, WORKING AS A LICENSED CPA. AFTER DELOITTE, BRIAN PIVOTED INTO CORPORATE FINANCE, WHERE HE HELD POSITIONS IN STRATEGY & CORPORATE DEVELOPMENT AT INTERCONTINENTAL HOTELS GROUP (IHG) AND COX COMMUNICATIONS, AS WELL AS AN FP&A ROLE AT BOSTON CONSULTING GROUP (BCG). THESE ROLES ALLOWED BRIAN TO GAIN VALUABLE EXPOSURE IN AREAS LIKE CLIENT SERVICES, STRATEGIC CONSULTING & PLANNING, FINANCIAL ANALYSIS, AND M&A AND INVESTMENT ACTIVITY.

BRIAN’S EDUCATION INCLUDES BOTH A MASTER OF ACCOUNTANCY DEGREE AND A BACHELOR OF BUSINESS ADMINISTRATION IN ACCOUNTING FROM THE UNIVERSITY OF GEORGIA.

Lori Shad

EXECUTIVE RECRUITER

DRIVING TRANSFORMATION THROUGH PEOPLE IS OUR MISSION AND LORI’S PASSION AS AN EXECUTIVE RECRUITER WITH JENNINGS EXECUTIVE SEARCH. SHE CONDUCTS THOROUGH RESEARCH ON EACH ROLE AND BUILDS STRONG RELATIONSHIPS WITH CANDIDATES TO HELP CONNECT PROFESSIONALS WITH THEIR NEXT GREAT OPPORTUNITY. LORI SPENT 22 YEARS AT A FORTUNE 500 INSURANCE COMPANY IN PRODUCT MANAGEMENT, SALES/BUSINESS CONSULTING, AND RECRUITING ROLES. SHE USES THIS EXPERIENCE AS SHE SEARCHES FOR THE BEST TALENT TO HELP DRIVE CLIENT SUCCESS FORWARD. SHE’S FOCUSED ON DELIVERING RESULTS AND GETS THERE THROUGH EFFICIENCY AND TENACITY WITH AN EMPATHETIC, COMPASSIONATE, FUN, GENUINE, AND POSITIVE APPROACH. SHE HAS BEEN INSTRUMENTAL IN HELPING CLIENTS ACHIEVE BUSINESS OBJECTIVES THROUGH UNDERSTANDING NEEDS, CREATING INDIVIDUAL, DATA-DRIVEN SOLUTIONS, AND SOLVING PROBLEMS, AS WELL AS POSITIVE RELATIONSHIP BUILDING AND TEAMWORK.

LORI GRADUATED WITH A BACHELOR OF SCIENCE DEGREE FROM THE UNIVERSITY OF GEORGIA.

Justin Graves

EXECUTIVE RECRUITER

JUSTIN GRAVES IS AN EXECUTIVE RECRUITER AT JENNINGS EXECUTIVE SEARCH.

JUSTIN HAS A VARIETY OF EXPERIENCES WORKING WITHIN PUBLIC AND INDUSTRY ACCOUNTING. HE BEGAN HIS CAREER WITH PATHSTONE FAMILY OFFICE PREPARING TAX RETURNS FOR HIGH NET WORTH INDIVIDUALS AND CORPORATIONS IN THE ATLANTA AREA. IN JANUARY 2015, HE JOINED COHNREZNICK, LLP, A TOP 10 PUBLIC ACCOUNTING FIRM, IN AUDIT & ASSURANCE WORKING PRIMARILY IN THE COMMERCIAL REAL ESTATE AND HOUSING MARKET. PRIOR TO JOINING JENNINGS EXECUTIVE SEARCH, JUSTIN WORKED AT A FAST GROWING TECHNOLOGY COMPANY, SS&C TECHNOLOGIES, WHERE HE WORKED IN THE REAL ASSETS DEPARTMENT DOING FUND ADMINISTRATION.

JUSTIN GRADUATED WITH A BACHELORS OF SCIENCE DEGREE IN ACCOUNTANCY FROM OGLETHORPE UNIVERSITY.

Justin Jennings

EXECUTIVE RECRUITER

JUSTIN JENNINGS IS AN EXECUTIVE RECRUITER AT JENNINGS EXECUTIVE SEARCH. HE COMES FROM THE HEALTHCARE INDUSTRY WITH 15 YEARS OF MEDICAL SALES EXPERIENCE. HE ATTRIBUTES HIS SUCCESS IN SALES TO LISTENING AND LEARNING FROM HIS CUSTOMERS AND ENJOYS THE PROCESS OF SOLVING PROBLEMS. HE IS SKILLED AT DEVELOPING THE RIGHT ACTION PLAN FOR EACH OF HIS CLIENT’S UNIQUE NEEDS AND COMMITTED TO HELPING THEM CHOOSE THE BEST SOLUTION. JUSTIN HAS TAKEN HIS SPIRIT AND PASSION FOR SELLING TO THE WORLD OF RECRUITING. HE HAS A GOAL OF SURPASSING HIS CLIENT’S EXPECTATIONS AND ASSISTING THEM WITH TALENT ACQUISITION.

JUSTIN GRADUATED WITH A BACHELOR OF SCIENCE IN MANAGEMENT FROM GEORGIA INSTITUTE OF TECHNOLOGY. WHEN NOT AT WORK, YOU CAN FIND HIM ON HIS MOUNTAIN BIKE, THE GOLF COURSE, OR SKIING OUT WEST IN THE WINTERS.

Chip Locke

PRACTICE LEAD, TECHNOLOGY RECRUITING

CHIP LOCKE IS THE TECHNOLOGY RECRUITING PRACTICE LEAD FOR JENNINGS EXECUTIVE SEARCH. CHIP BRINGS 15 YEARS OF EXPERIENCE IN TECHNOLOGY AND RECRUITING INCLUDING HANDS-ON WORK AS A SOFTWARE DEVELOPER AND BIG 4 SYSTEMS CONSULTANT. HE IS A TRUSTED CIO ADVISOR WITH EXPERIENCE ACROSS INDUSTRY VERTICALS AND A DEEP UNDERSTANDING OF TECHNOLOGY PLATFORMS AND THE FUNCTIONAL AREAS OF DELIVERY THAT ENABLE BUSINESS OPERATIONS. HIS EXPERIENCE INCLUDES RECRUITING EXECUTIVES AND COLLABORATING ON STRATEGIC PLANNING AND IMPLEMENTATION OF IT ORGANIZATIONS.

HIS CLIENT SUCCESS STORIES CAN BE FOUND AT COMPANIES RANGING IN SIZE FROM STARTUP TO FORTUNE 500 ACROSS AVIATION, ENERGY, FINANCE, HEALTHCARE, TECH, MANUFACTURING, RETAIL AND TELECOMMUNICATIONS. CHIP GRADUATED FROM THE UNIVERSITY OF GEORGIA WITH A BACHELOR OF BUSINESS ADMINISTRATION DEGREE IN MANAGEMENT INFORMATION SYSTEMS.

Brian Gelfand

PARTNER

BRIAN GELFAND IS A PARTNER AT JENNINGS EXECUTIVE SEARCH. HE BEGAN HIS CAREER AT DELOITTE & TOUCHE IN AUDIT AND ENTERPRISE RISK SERVICES, WITH A FOCUS ON THE FINANCIAL SERVICES AND REAL ESTATE INDUSTRIES. AT DELOITTE, BRIAN GAINED VALUABLE CORPORATE EXPERIENCE WORKING WITH A MULTI-BILLION DOLLAR PUBLIC MORTGAGE SERVICING CORPORATION, AND A NOT-FOR-PROFIT FOUNDATION WITH OVER $10 BILLION IN ASSETS. BRIAN PASSED THE CPA EXAM BUT ULTIMATELY DECIDED ASSISTING CLIENTS WITH THEIR PEOPLE STRATEGIES WAS HIS PASSION.

BRIAN’S EDUCATION INCLUDES A MASTER OF ACCOUNTANCY FROM KENNESAW STATE UNIVERSITY AND A BACHELOR OF BUSINESS ADMINISTRATION IN ACCOUNTING FROM GEORGIA COLLEGE & STATE UNIVERSITY

Jon Jennings

FOUNDER / MANAGING PARTNER

JON JENNINGS IS THE FOUNDER AND MANAGING PARTNER OF JENNINGS EXECUTIVE SEARCH. ESTABLISHED IN 2014, HIS VISION WAS TO SHAPE A FIRM ANCHORED IN TRANSPARENCY AND VALUE CREATION. OVER THE YEARS, JON HAS HAD THE DISTINCT OPPORTUNITY TO ENGAGE WITH AND LEARN FROM LEADING INDUSTRY EXECUTIVES, GLEANING INSIGHTS FROM THEIR EXPERIENCES AND COMBINING THIS KNOWLEDGE WITH THOROUGH RESEARCH. THIS HAS EQUIPPED HIM TO OFFER A DEEPER, MORE STRATEGIC PERSPECTIVE ON ORGANIZATIONAL DESIGN AND TALENT IDENTIFICATION. WITH AN INITIAL FOCUS IN FINANCE, THROUGH JON’S LEADERSHIP THE FIRM HAS PIVOTED INTO BROADER COMMERCIAL AND TECHNICAL STRATEGIES AS WELL AS PROFESSIONAL SERVICES.

TOGETHER WITH HIS EXPERIENCED TEAM OF EX-CONSULTANTS AND INDUSTRY PROFESSIONALS, JON COLLABORATES WITH PREMIER CONSULTING FIRMS TO ENHANCE THEIR PRACTICES. SIMULTANEOUSLY, HE ASSISTS PRIVATE EQUITY GROUPS AND THEIR PORTFOLIO COMPANIES IN REFINING AND FORTIFYING THEIR COMMERCIAL AND FINANCIAL STRATEGIC OPERATIONS.

THE CULMINATION OF THESE EFFORTS IS A BOUTIQUE FIRM THAT INC.COM CELEBRATED AS ONE OF THE COUNTRY’S FASTEST-GROWING COMPANIES. BETWEEN 2019 AND 2022, THE COMPANY WITNESSED A STAGGERING GROWTH RATE OF NEARLY 600%.