Welcome to The Private Equity Podcast! In this episode, we are joined by Sam Adams, Managing Director of Talent at Berkshire Partners. Sam shares invaluable insights into the importance of talent development and hiring beyond the conventional Private Equity norms. Discover Berkshire Partners' innovative approaches to nurturing talent, their unique selection processes, and the impact these strategies have on their overall success. Sam also discusses the cultural elements that support growth within a Private Equity firm and the unconventional paths to hiring that have proven effective. Stay tuned as we dive deep into how Berkshire Partners sets the gold standard in people development.Breakdown:[00:00] Introduction to Sam Adams and the focus of the podcast on advanced talent management practices in Private Equity.[00:28] Overview of Berkshire Partners' innovative approaches to talent development and hiring.[01:57] Sam shares her unique journey from advertising to becoming the head of talent at Berkshire Partners.[04:44] Discussion on common mistakes Private Equity firms make in talent assessment and how Berkshire addresses these challenges.[07:04] In-depth look at how Berkshire develops its talents, including the training and mentorship programs available.[10:48] Sam discusses the structured mentorship and the robust performance review processes at Berkshire.[14:08] Influence of firm culture on talent development and the integration of functional experts within deal teams.[18:00] Details on the managing director development process and feedback mechanisms used at Berkshire.[22:12] Sam emphasizes the importance of getting the hiring process right to ensure smooth operations and development within the firm.[28:49] Recent changes and improvements in Berkshire's selection process based on lessons learned.[33:00] Further discussion on the non-predictive nature of traditional educational scores in hiring.[38:16] Explanation of Berkshire’s comprehensive approach to building internal infrastructure to support its operations and investment strategies.[42:00] Exploration of the firm's cultural emphasis on talent and the historical roots of this focus.[45:22] Closing remarks and thanks to Sam for her insights.To connect with Sam, you can visit her LinkedIn profile here.Thank you for tuning in!To get the newest Private Equity episodes, you can subscribe on iTunes or Spotify here.Lastly, if you have any feedback on the podcast or want to reach out to Alex with any questions, send an email to alex.rawlings@raw-selection.com.