How to recruit a top executive successfully

In the past few years, human resource topics have increasingly become more important on an executive and board level. And especially in turbulent times like these it is extremely important that the right executives are hired for the right positions, and that they are well integrated into the company from the outset. But the recruitment process has become complex and challenging.

The following tips are to assist chairmen, CEOs and HR Directors in guaranteeing the most effective and successful way of hiring top executives.

1. First of all, make sure that the sought-after candidate is not already present among existing executives. In every company there are high potentials waiting in the wings for professional development. Keeping this in mind may stave off potential issues in the future.

2. As precisely as possible, define the main missions and objectives, as well as the ideal profile of the sought-after candidate, including whom they will report to and who will report to them. The clearer the definitions of the profile, the more likely it is that you will find the perfectly suitable executive for the job.

3. Engaging the consulting services of a qualified and proven external partner is very often highly valuable, considering experience and market know-how. Choose an executive search consultant whom you trust and who is able to understand your industry, your company, its structure, its culture and its values.

4. Spend as much time as necessary with this consultant in order to fully brief them of your expectations. Where possible, organize meetings with other directors or board members. It is important that your consultant gains as much insight as possible into the firm and your objectives and expectations from the beginning of the process. This will facilitate a positive outcome of a suitable candidate for the position.

5. Important is not only speed and efficiency, but – even more – the quality of the interview process leading to the presentation of a fitting applicant. After all, the consultant will be your company’s ambassador. Also, clearly define the way you want the consultant to report on the progress made (on a weekly, bi-monthly basis; in written form; over the phone, etc.)

6. Define in advance which of your directors or board members will meet the final candidates. How many steps will the hiring process take? Information such as this is important for the candidate. The more specific, the better. Also, pay attention to consistency and detail in your information. Make sure the applicant has a clear idea about your organization as well as the correct hard facts about the company’s figures.

7. Absolute confidentiality regarding candidates’ applications, interviews and consideration both internally and externally is essential. Utmost discretion should be exhibited with regard to the job candidacy and possible employment possibilities.

8. Leave reference checks on the finalists to your consultant. He/she has experience in this area and can approach possible sources of reference in a significantly more neutral way. This is a much more professional approach for the company searching for candidates. Any breach of confidentiality can incur great risk.

9. When informing the candidate of the offered compensation package, consider not only the internal salary grids but also what the chosen candidate will bring to your company. The overall package should be considered, including bonuses and benefits (here you can be creative). Also include stock options, free shares, welcome bonus, retainer bonus, housing, schooling, extra-pension schemes. Remember that the salary package is often key in both the hiring process, and in the long term when trying to retain a good executive.

10. When the candidate has come aboard, a time-frame should be established to assess the candidate’s professional performance. Very often the exchange on a personal level (family, housing, schooling, etc.) is just as important as the professional evaluation for a good and successful working relationship. Keep in mind here that integration, personal well-being and professional excellence are key to maintaining motivation and also high-quality executives.

Working with these ten points will boost efficiency and communication, assist in placing the right candidate in the right job, and in gaining a motivated and suitable executive.