3 Critical Steps to a Successful Executive Search
July 2, 2019
We have all heard the saying, “Get the right people on the bus.” In fact, several authors have dedicated large chunks of their works to what that entails. For example, the author of Good to Great, Jim Collins, stated that for a company to truly break free of mediocrity and become great, having the right people in the right seats is absolutely critical.
One of the main roles of a C-Suite Executive is to set the direction of the company that he or she leads. Without a well-established direction, the company and its employees are bound to get lost.
But what happens when a company loses one of its key executives? How do you ensure that you find the right “bus driver” to steer the company forward?
Here are three critical steps to consider when you begin the executive search process:
1. Get everyone on the same page
When beginning the executive search process, it is important to understand what is being sought in a C-Suite Executive. The previous leader may have been admired by most people within the company, however, there are bound to be people who did not view them with the same regard.
Take the time on the front end of the process to ensure that everyone associated with the executive search understands the background, characteristics, experiences, and knowledge sought in a candidate.
This includes conversations with board members, senior leadership, employees, vendors and even customers to get their input.
2. Perform executive search due diligence on top candidates
To better understand the quality of the candidate, a variety of investigations into their background, including whether the candidate has a criminal record, any conflicts of interests or a history of financial mismanagement at their prior company, should be performed. Further, ensuring they have properly handled their own finances, as they will be responsible for the company’s financial picture, is vital.
Once top candidate(s) have been identified, ensure they are who they say they are.
Sterling Diligence investigates all of the above and more through its executive level background investigations. For example, when considering criminal record searches, Sterling Diligence is connected to more than 2,100 jurisdictions within the United States alone. Additionally, Sterling Diligence has extensive resources in more than 190 countries and territories.
3. Offer and negotiation
Congratulations! The right candidate has been found! They have sailed through the initial due diligence process, and an offer is ready. You can relax because your job is done, right?
In fact, this is where many companies go wrong. You should consider continuing your due diligence efforts during this stage of the process in order to ensure that your new bus driver maintains positive behavior and acts in the best interests of your company.
Ongoing due diligence may include checking for negative media exposure or monitoring the Executive’s social media feeds, which is something Sterling Diligence’s expert investigators are able to offer clients.
Hiring the right people is a hard decision. This is where Sterling Diligence can lend a hand, providing an effortless executive screening process. Click here to learn more.