Running a business takes a dedicated team that is willing to scale up or down your progress. Conversely, the need to hire a reliable chief of operations officer becomes apparent once you notice your company has grown exponentially since its official launch.
The COO is responsible for ensuring that day-to-day operations are efficient and effective, so finding the right one to lead the team can make or mar the bottom line of your business functions.
In addition to managing the activities of the company, a COO also allows the CEO to dedicate their focus on creating new opportunities for the company rather than being limited by managing multiple departments.
To that end, the tips below should highlight the best ways to evaluate top talents when filling in a COO position for your company:
Tip #1: Define Your Needs in Job Descriptions
A basic way to curate your roster of applicants is by crafting a future-oriented job description, one that defines the responsibilities of the position in specific points. You should touch upon key objectives too, such as the following:
- The right COO should increase company value.
- The right COO should help the company achieve a 25 per cent (adjustable) compound annual growth rate within one year.
- The right COO should provide a strategic plan that suits the company’s goals.
- The right COO should be in line with the company’s core values.
The second step to hooking top candidates is to share the value of the position in the company and how they can grow their careers in the long run. Of course, you also need to take a closer look at the track records of your prospective talents to ensure they have a trustworthy experience that verifies their skills and established connections.
Tip #2: Focus on Managerial and Leadership Competence Instead of Industry Experience
Having an overview of the ins and outs of your industry is a major boost in one’s portfolio, but the role of a COO relies heavily on their skills and influence as a reliable leader. That’s why when hiring the right COO, it’s best to focus on proven managerial qualities before considering their industry experience as a trained and tested leader is what you need for the team.
Tip #3: Hire an Executive Search Organisation to Scout for Quality COO Candidates
The recruitment process can be a time-consuming and expensive stage of a company’s cycle, especially when scouting for niche or executive positions. Finding top talents in a highly saturated market can be daunting, so the best way to make the most of your resources and time is to hire a dedicated executive search organisation.
A professional recruiter understands the market and the roles you need for your business, both of which are critical in accessing quality applicants. Interviewing potential hires from an expert recruiter’s roster can also save you time in vetting their qualifications as most who move past the headhunter’s initial interview are already well-suited for the position.
The Bottom Line
A high-performing chief of operations officer can make a world of difference in the growth of the company, but the wrong choice can cost you time, money, and a significant loss in productivity for all involved parties.
Seeing as it takes careful consideration to hire a suitable COO for your company, the tips above should help clue you in on the qualities you need to look for when evaluating a list of prospects for your business.
If you’re in the UK and are looking to enjoy the benefits of an executive search organisation, get in touch with us today to see how we can help.