Hiring a new CEO is a lengthy process, which takes up a large amount of time and resources. If you are thinking of embarking on this process, then there are some crucial steps to follow to make sure you get the right CEO for your company.
Firstly, it is important to amalgamate the right group of people as your search party for a CEO.
Usually, it should be a director of your company or even a few directors of the company that should head the recruitment process.
If at all possible, it is also worthwhile having the departing CEO to be part of the process too. They will offer invaluable insight into what will be needed from the replacement CEO, while also helping the individual candidates understand specifically what is expected from the role.
The next step should then involve those involved in the process to produce a set of criteria of what exactly they expect from candidates applying for the CEO position.
It is important for this list of criteria to encompass both general qualities of a CEO, and then the specifics of what is needed from a CEO in your company.
At this stage, your company has two options.
Firstly, it can embark on the first round of interviews, fitting an interview process around the criteria created. Or, your company can make use of CEO recruiting firms.
The key to using these companies is be completely transparent and honest about the current situation of your company and what you need from a CEO.
Thus, either path you choose to go down, a substantial criteria list of what you specifically want from a CEO is crucial. Recruitment companies are an especially useful asset if you are only looking for an interim CEO.
If you decide to carry on the process in house, you should be prepared for multiple interviews, and final interviews that does not leave you with a final candidate. A recruitment firm will have a pool of candidates you may not be able to reach via your own resources.
Thus, if your company reaches a point of doing unsuccessful interview after unsuccessful interview it might also be a telltale sign that it is time to outsource the job to a recruitment company.
No matter which path you go down, the final say is always with the company, and a candidate should only be selected if the entire board agree with the decision. If time is of the essence, then a recruitment company needs to be a serious consideration.
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