Today, leaders are more geographically dispersed than ever, and far less willing to uproot their lives and families for the next opportunity. Relocation rates have declined drastically, with less than 4% of professionals earning over $200K moving for a new role in 2024, down from 10.6% prior to the 2020s. While surveys by leading consultancies such as IIC Partners suggest that 81% of executives are “open” to relocation in theory, the reality often looks very different. Leaders are increasingly selective, willing to move only for exceptional opportunities with significant incentives.
For private equity sponsors and portfolio companies, this creates a structural challenge. The ideal CEO or CFO may be located across the country—or across the state—and convincing them to relocate can be both costly and time-consuming. Yet as hybrid norms evolve, the pendulum is slowly swinging back toward in-person executive leadership teams.
Many executives already relocated during the past five years or became accustomed to hybrid or remote arrangements post-pandemic. Meanwhile, companies themselves are shifting back to in-office models; KPMG’s CEO Outlook shows that 79% of U.S. CEOs expect a full return-to-office by 2026. This tug-of-war is playing out in boardrooms, search processes, and compensation negotiations.
Some investments require leadership in the office with a great deal of consistency, driving culture and strategy. The key is sizing the market and finding the executive willing to be present where and when it matters most.
At Roo, we understand this dynamic well. The best searches do not just identify the right talent, they find the right talent within geographic proximity to the opportunity. That requires both the technical ability to size markets accurately and the network depth to zero in on leaders who can truly make an impact.
The key is striking that balance and knowing when expanding the geographic lens is necessary, particularly in smaller markets where local talent pools are thin. For private equity investors, the takeaway is clear: talent strategy must evolve alongside the realities of executive mobility. In today’s environment, the ability to articulate a compelling narrative around the opportunity — and partner with a search firm capable of persuading exceptional leaders to make a geographic leap — can be the defining factor between simply filling a role and truly discovering the next great C-suite leader.