Hiring the wrong Chief Executive Officer (CEO) for your organization can significantly disrupt the workflow. A CEO is the highest-ranking executive manager of a firm and is responsible for a wide range of tasks, such as management of overall resources, major corporate decision-making, and acting as the main point of contact between various company stakeholders. Your company will rely on the CEO’s expertise for many essential tasks, so you need to find the best candidate for the position.
Your next CEO must display confidence and innovation and be a strategic thinker and proactive leader to employees and board members. So, how do you ensure you’re choosing the right candidate among the many applicants seeking a job in Toronto? Use this guide to proceed with your CEO search with confidence.
Advertise on Niche Job Boards
A niche job board is an excellent approach to finding the right executive talent. It reduces the number of applicants, allowing you to choose from a shorter and filtered-out list. Look for a niche job board focusing on the industry you’re hiring in, and be clear about your expectations from the candidate. This can help you receive relevant and higher-quality applications, reducing the risk of the costs associated with a bad hire.
Outline Your Expectations
One of the most important steps when looking for a qualified CEO is outlining your expectations. You want to make sure you attract the right candidates. Before you start the process, sit down with your team, and discuss the qualities you would like the new leader to possess. You want to consider experience level, professional connections, specialized skills, and work ethics.
After you and your team have assessed what the ideal CEO looks like for your company, write clear job descriptions when advertising the position. As you move on to the following steps, it’s important to take a different approach to hire a CEO than an entry-level or another type of employee. You may need to emphasize the applicant’s qualifications more and ask questions that allow them to illustrate their capabilities instead of only generic questions about their strengths, weaknesses, etc.
Work with a Specialized Recruiter
Hiring a CEO is challenging, and it is best to seek help from industry experts to avoid costly mistakes. To optimize your search, consider working with executive search firms in Toronto that can help you find the best CEO for your company.
A recruitment firm specializing in matching companies with executive talent can simplify the hiring process and refine your search. They are likely to have an extensive database with a pool of qualified candidates that they have created with their headhunting experience. Handing the task to a recruiter will save you time and allow you to gain access to top talent in the city.
Look for Impressive References
A professional reference letter written by a supervisor, colleague, or professor well-acquainted with the candidate’s accomplishments in a work-type setting can help you understand the applicant’s skills. A study found that using a reference letter in a job application increases callbacks by more than 60 percent.
When reading a reference letter, look for words or phrases highlighting the candidate’s expertise and use the information when making a hiring decision. The most suitable candidate will likely have stellar reference letters that are testimonies to their work ethics and professionalism.
Finding your next CEO and making sure they are the best candidate can be challenging. But the right strategies can simplify the process and help you find exactly what you’re looking for in a CEO.