How to Hire a CEO from Another Company
Finding the right CEO is tough. You want someone with enough experience and leadership capabilities to be on the helm. You can’t make a wrong decision as it affects the company’s growth and success. It’s natural for most businesses to start inside. Employees work their way to the top. The most loyal and competent people usually vie for the top post. However, it’s not always the case. Sometimes, it’s best to find CEO’s from outside.
Hiring an outsider offers a different perspective. This person still has the necessary industry experience. The best part is this leader will be neutral and won’t worry about the politics at work. Even the promotion of other employees to leadership posts depends on qualifications and not connections since the outsider knows no one in the group. If you wish to pursue this decision, here are some tips in hiring the right person.
Use an executive search firm
Like regular jobs, there are firms dedicated to hiring executives. Their niche is looking for people in top positions. They won’t only rely on resume submissions. They will also look into executives who are currently employed, but may look at another position if possible. In short, you’re not limiting your options. You can take the best people for the job who are still part of other organizations. Don’t worry about it since it’s a common practice to hire the top employees of your competitors.
Attend networking events
From conferences to seminars, you will always have a chance to meet with people in the industry. From regular employees to top leaders, these events offer an opportunity to expand your circle. You will find the right people for the job in one of your conversations. It’s a long shot, but it’s possible. If not, you can at least find someone to connect you with potential candidates.
Create a search committee
Look for people in your organization who currently don’t aspire to head the team. They can form part of your search committee. It’s their responsibility to look for potential candidates elsewhere. While they don’t make the final decision, they can offer recommendations. They can interview candidates and do a background check. Once the shortlisted options reach your table, you know they’re the best of the best.
Study your rivals
There’s an excellent chance that your next CEO will come from your competitors. This person isn’t necessarily among the top executives there, but you see the tremendous potential. Instead of waiting to move up the corporate ladder, this person would rather accept an offer elsewhere. It’s a loss for your competitors, but a gain for your organization. Keep an eye on these employees since they could be a perfect fit.
With these tips, you will soon find the right person for the job. Again, you must take the process seriously. You can’t rush it since you’re hiring the top manager. You want to stay competitive and the decisions made by the person on top is highly consequential.
Photo Attribution:
1st and featured image from https://content.fortune.com/wp-content/uploads/2020/02/Jeff-Weiner-LinkedIn-Ceo.jpg
2nd image from https://blog.staffingadvisors.com/the-executive-search-hiring-process
