Private equity is driving demand for Strategy and Transformation talent to highest level in 2 years

The Hiring index hits a 2 year high driven by a 63% increase in PE demand in Q1

The Quarterly Hiring Index has reached a 2-year high of 30 in Q1 2026. This is a marked change compared with the historic lows (<20) of 2024 and 2025.

The primary driver of market hardening is private equity. The demand for Transformation and Value creation talent is up 63% on last quarter and a staggering 279% compared to the average in 2024.

In this article we look into the drivers of these trends, and conclude:

• Private Equity has continued its rapid growth in hiring Transformation and Value Creation talent. As Funds focus on higher EBITDA uplift from operational change (“12 is the new 5”), the talent market is becoming highly competitive
• The increase in demand from Large Enterprises has seen a shift from hiring internal generalist strategy teams, to very focused in functional talent (GTM, Pricing, Procurement etc.) on demand
• Whilst demand has increased for freelance and interim talent, the supply side is extremely robust. This is driven by a large number of people opting out of permanent employment, in favour of the flexibility and impact you can have from an independent career (43%)

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Understanding the Numbers

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At the heart of our analysis is the Movemeon Hiring Index, a scale from 0 to 100 that measures the balance between candidate supply and employer demand in the strategy and transformation talent market. A higher index reflects more hiring demand, and a stronger market. 

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Private Equity is the driver behind the increase in hiring - 12 is the new 5

The hardening in the market has been demand driven - PE funds looking to hire more Strategy, Value Creation and Transformation talent. Private Equity used to account for just 20% of hiring in this space; it is now accounting for 50%. This rapid growth in absolute terms has seen 3x the demand of 2024.

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The driver behind this is the focus on “Operational Alpha”. Given increased costs of Leverage, and a less favourable market, Bain & Co.’s recent Private Equity report stated that Funds need to grow EBITDA by 12% year-on-year to achieve IRR of 20% (MOIC of 2.5x). This is compared with a requirement of just 5% improvement 10 years ago.

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We’re seeing this play out in two main ways:

• Increased deployment of Functional Senior Advisors
• Mid-hold pivots in Value Creation Plan

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Increased deployment of Functional Senior Advisors in PE

Whilst we’ve supported PE funds extensively on generalist transformation talent (Chief Transformation Officers, VP of Transformations, Portfolio Operations teams), we’ve seen a shift in the market over the last 6 months. There is increasing focus on leveraging Functional Senior Advisors to drive change. 

Projects that would have historically been led by internal team members are being driven by Operators with deep experience. Typical projects include Pricing, Go-to-market/ RevOps, Procurement, Operating Model. There has also been a shift away from engaging large consultancies to run workstreams across each - with growing focus on cost, and impact. For the latter, the focus is on people who have done “many turns” of the same problem, with operational accountability for the results. This ensures they know the pitfalls, and how to maximise impact. This increased level of diligence is a clear shift to get a tighter grip on the Value Creation Levers driving EBITDA improvement.

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Mid-Hold pivot in the Value Creation Plan

Historically, our support to PE Funds and Portfolio companies was focused on the period just after acquisition. We’d help them build out the talent needed to realise the VCP. However, we are increasingly being mandated both mid-way through the hold period, and just before exit. 

The former is driven by fundamental shifts in the market. PE funds are increasingly focused on re-setting Value Creation Plans (VCP) to adapt to a shifting external environment, specifically around AI implementation and supply chain resilience. There’ll often be talent and competency gaps, based on the new VCP.

We are also seeing the rise of a distinct “exit readiness” Chief Transformation Officer profile. Unlike the traditional “new asset” CTRO focused on post-acquisition transformation, this role is geared toward preparing businesses for exit, driving rapid, targeted value creation, tightening operational performance, and ensuring the equity story is clearly evidenced ahead of sale. This evolution reinforces the broader trend toward mid-hold intervention and the need for highly experienced, impact-oriented operators.

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Enterprises leveraging Senior Advisors in a more modular approach to transformation

Enterprise hiring also strengthened in Q1, increasing by 42 points on the Hiring Index. However, rather than a broad build-out of in-house strategy teams, the data points to a more nuanced structural shift in how large organisations are approaching transformation, combined with a growing challenge in attracting top talent into these roles.

We are seeing increasing hesitancy to hire permanent talent into centralised strategy functions, and equally, less pull from candidates toward these positions. Enterprises are deliberately keeping these teams lean, prioritising flexibility over fixed cost. The roles are often perceived by candidates as offering less pace, impact, or upside, making them harder to fill. 

The increase in hiring is instead driven by a clear rise in demand for external, specialist support on a project basis. Rather than relying on large consulting firms for end-to-end delivery, organisations are selectively bringing in expertise for high-impact areas such as pricing, go-to-market strategy, and commercial due diligence.

This shift reflects a more modular approach to transformation: lean internal teams setting direction, complemented by targeted external specialists executing critical workstreams. It also helps explain the hardening of the market in this segment, not just increased demand, but reduced candidate appetite for traditional in-house roles.

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An expanding pool of On-Demand expertise - 44% of network now interested in freelance/ interim

Despite an increase in demand for interim and freelance talent across both Private Equity and Enterprises, the supply of talent remains remarkably robust - the hiring index held steady at just 6.

This is driven by an ever-growing supply of this talent. Professionals are being drawn to the freelance market, offering more control over the work you do and the lifestyle you have. Many also cite high satisfaction from the increased impact you’re able to have.

As the supply side continues to grow, the risk to the traditional consulting model becomes greater.

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To find out more about how senior independent consultants could support your business, or more generally hiring with Movemeon, get in touch with our team here.

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