How to Hire the Right CEO

It is the responsibility of the board of directors to appoint an appropriate CEO (Chief Executive Officer) for a company. The designation of CEO is one of the most crucial and demanding one in the entire organisation. Therefore, the person being hired for this key post has to pass through a number of specifications before considered fit for the job.

Keep in mind that the CEO shall be representing your entire company on all managerial platforms and his personality will have a direct impact upon the repute of your organisation. CEO has to be a highly qualified and experienced person, extremely professional and committed to do his/her job with the utmost diligence. You have to take care of some vital aspects before you hire someone as your company’s CEO.

Instructions

  • 1

    First of all, you need to devise a precise plan to hire out your company’s CEO. Your plan should have specification regarding the time available for headhunting, the interview phase and a probationary period, during which the CEO will be acting in his/her full capacity.

  • 2

    Always keep in mind that hiring a CEO is not just like appointing any other top managerial-level personnel but it is far greater task than that. You need to begin your hunt for a right CEO well before time so that you don’t end up becoming extremely desperate for hiring any person for this post as time runs out.

  • 3

    Search for the required person within your immediate circle of colleagues and associates first. You can even look out for a person with experience of this post in any other industry, as CEO doesn’t need to be industry-specified. You just need an able and trustworthy person for this designation and he/she might come from another industrial segment.

  • 4

    Once you find an appropriate person, you should hire him as a COO (Chief Operating Officer) for a probationary period. Keep monitoring his performance in management affairs and in day-to-day operations of the company. Hiring a new person for COO will minimize the risk of mismanagement of CEO’s powers and will also give appropriate time to the board of directors to evaluate the his/her capabilities.

  • 5

    CEO’s remuneration is also a key factor in the entire hiring process. You have to make a decent offer to him/her, as this will provide motivation for the CEO to perform to his/her best abilities. However, you also have to negotiate within the boundaries and budget of your company.

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