CEO is the most important recruitment any company will make. Getting it right is like getting the future of the company right. An error there is too costly to correct.
WHAT IS DIFFERENT ABOUT CEO RECRUITMENT?
CEO recruitment differs from other C-suite recruitments in several ways. A dynamic CEO can change the fortunes of the company. You want someone who can lead the pack of senior executives.
Integrating the Functional Specialisation
C-Suite is a collection of expertise. CEO must integrate the functional expertise of each member and create synergy. So, a high-level understanding of multiple functions such as finance, marketing, technology, people and operations is essential for success in the job.
The CEO should have the credibility and earn the acceptance of the C-suite of seasoned professionals. This is the main reason why the CEO recruitment focuses on leadership abilities.
CEO Role is Contextual
Each company is unique. So is the business strategy. A company needs a CEO who is competent to execute the strategy. Suppose the company has shifted its strategy to go online, it would want a CEO who implemented an online strategy. If a company is in its growth stage and looks for new markets, the CEO candidate should have aggressive growth capabilities.
Similarly, if a company wants to consolidate its business, you need a CEO who can improve operational efficiency.
‘When you’re choosing the final candidate, judgment about the fit matters.”- Ram Charan in The
Secrets of Great CEO Selection, Harvard Business Review
Attracting Quality Candidates Needs More than an Ad
When a CEO job is advertised only active job seekers tend to apply. Passive candidates do not. Besides, candidates may find it embarrassing to apply for a job with a competitor.
WHY HEADHUNTING IS THE BEST OPTION FOR CEO RECRUITMENT
Using the services of a headhunter for CEO recruitment offers several benefits.
1. Unique Expertise
Given their knowledge of the market, headhunters are well-placed to advise the Board (or its Committee) on the CEO search strategy. After deciding on the key competencies required for
the position, the headhunter can advise the board whether a national, regional or international search is needed.
2. Building the Bridge
Headhunters are well-networked and trusted. They can reach out to passive candidates discreetly and ascertain their interest.
A headhunter is the right person to provide that crucial linkage between the candidate and the company and attract the potential candidates.
3. Erecting the Orillon
Every candidate may not be proficient in the multiple functional areas. Suppose that a
company needs a CEO who should be competent in five functional areas (such as marketing
finance, operations, technology, people etc.). What if you get a candidate is exceptionally
proficient in four areas and not proficient in one?
The board may decide to choose the candidate for the exceptional skills and recruit a strong functional head and build an orillon to cover the open flank of the CEO.
With a headhunter, these sensitive conversations are easy.
For more information on headhunting services, please contact email@example.com