A company’s leadership team devotes its days to ensuring that the company is on a path of innovation and growth. Leaders pay attention to industry trends and gaps and guide a company’s trajectory as employees collaborate in order to fill in those gaps while following industry best practices.
Forward-thinking leaders foster a culture in which every employee feels recognized, valued, and able to offer suggestions to make the company even more successful. Hiring for these positions can be challenging. Whether it’s a CEO, CFO, COO, CIO, or another leader that you’re looking for, how can you recruit the right person for a position?
Individuals who are going to consider an executive position in your company are going to want to be compensated at or above current executive pay levels. The Bureau of Labor Statistics found that the 2017 yearly median pay of companies’ top executives was $104,700.
Do research to make sure that the salary you are offering for a particular leadership position is in-line with current market rates. Compensation packages should also include other attractive perks, perhaps unlimited sick days, extended vacation time, or the opportunity for paid sabbaticals.
We don’t often think about executive leadership as contingent employees, but Morgan Philips Group notes that looking for contingent employees to take on C-Suite roles is one of 2019's executive search trends. 50.9% of workers are expected to have freelance positions by 2027, and there’s no reason to assume that that number won’t include a large number of executives.
Charles-Henri Dumon, CEO and Founder of Morgan Philips Group, notes that “more and more senior and junior leaders [are] choosing to adopt different lifestyles from their predecessors,” which means that companies have opportunities to tap into the benefits of the gig economy when looking for their next leadership hire.
An executive looking to join your team is going to want to know that she will have the opportunity to innovate and offer her own knowledge, experience, and perspective as ways to help your company grow.
Be sure to share with potential executive candidates information about a company’s available technology, allocated resources, and plans for the future. A motivated leader will be excited by the potential to help chart and guide the next phase of the company’s journey in her respective area--for example, finance or operations.
All employees want to be able to grow professionally in their roles. This is also true of people in leadership positions, though we tend to assume that they are already at the top of their game and don’t need or want to get better.
Dale Robinette, a CEO coach, notes that executives tend to leave their current positions for many of the same reasons that other employees do, including their inability to grow professionally. During the recruitment process, you’ll want to be able to clearly explain how a candidate would be able to evolve in their role as a company leader and contribute to the company’s legacy.
President, Counsel Financial Services
Compensation packages should also include other attractive perks, perhaps unlimited sick days, extended vacation time, or the opportunity for paid sabbaticals.
50.9% of workers are expected to have freelance positions by 2027, and there’s no reason to assume that that number won’t include a large number of executives.
A motivated leader will be excited by the potential to help chart and guide the next phase of the company’s journey in her respective area--for example, finance or operations.
Principal, Lorraine Capital