One of the most critical decisions your company can make is hiring a new chief executive officer (CEO) to take over your company. You’re essentially tasking a person with the responsibility to call the shots and lead your company to success. They will also be in charge of making decisions that can make or break not only the current state of your company but also the future of your business.
That said, hiring a CEO is indeed too big a task for anyone to handle. Because of the difficulty of the task, it’s best to collaborate with a bespoke headhunting service that specialises in recruiting mid- to senior-level managers, C-suite officers, and other positions that are essential to the company.
If your organisation is looking to hire a new CEO, here are four tips that will benefit you in your search:
Identify the need
Before you start sifting through potential candidates, you must first assess what your business needs from your CEO. It’s important that the person you find is the right fit to lead the company within your industry and at a particular time. If your business is having trouble with funding, you will want a CEO who has extensive experience with finance. If you’re lacking in marketing, you will also want to hire a CEO who has a solid set of marketing skills.
It’s also vital that you identify the stakeholders involved in the hiring process. This helps the headhunting service know which people to approach and inform throughout the entire search process.
While bespoke headhunting services are experts in doing background checks and research on the candidates, it’s also vital that you do your own research. The more the headhunter is familiar with what you are looking for in a prospective CEO, the higher the chances that they can do their jobs better.
By doing so, you’ll make the hiring process more targeted, faster, and efficient. The only step remaining for the headhunter to do is to make your organisation more enticing to prospective candidates so they’ll be more willing to consider the role.
Carefully screen candidates and establish a shortlist
Once you have a list of candidates, you have to be meticulous with the screening process to identify whether or not they’re the right fit and possess your preferred skillset. Once you consider the most prospective candidates, you’ll be able to reduce the time spent on interviews.
While the screening process varies depending on the recruiting company, the key step is to do detailed press and social media searches to gauge their reputation. Gathering references from the people they’ve previously worked with, including their boss, subordinates, and non-executive directors, can also help in this process.
Conduct proper interviews
During the interview, prepare a stringent set of competency-based questions that will allow them to display their skills. It will also benefit you to have an internal rubric, which would then help you make the evaluation process better.
After the final interviews, the last step is to decide the best candidate and make an offer. It’s best to ensure that the key stakeholders are involved in decision making, so the right person is hired.
Hiring a CEO for your company is indeed a difficult process, but the payoff is worth it if it means that you’re recruiting a person to drive your company to success. Make sure you choose the best person for the job with the services of an executive search specialist. Contact us today to see how we can best help you through the hiring process.
If you’re looking for a bespoke executive search service in the UK, get in touch with us today! We’re happy to help.