Hiring a CEO can be complex and time-consuming. You may want to consider hiring an executive search consultant to help.
A good consultant will bring expertise, an objective perspective and resources.
If your entity is large, complex or high profile, hiring a consultant can be a good investment.
But if your entity is small, has a strong pool of CEO candidates or the recruitment is simple, it may not be worth it.
If you hire a consultant, ensure they have the capacity to engage with your board, chair, recruitment sub-committee and selection panel. Remember to follow your entity's procurement policies.
You can use a consultant to help your board:
Even if you hire a consultant, your board and chair must still do these tasks:
Use these themes and questions to help you find a good consultant for your entity.
A good executive search consultant will:
To understand your entity, a consultant may want to meet with your chair, some of your board’s directors, some senior employees and stakeholders.
Some questions you can ask are:
A good executive search consultant will have a variety of strategies to look for candidates – even those who aren’t looking for a new role.
This could include print and social media advertising, referrals, networking and database searches.
You can ask them:
A good executive search consultant will have a system for regular communication with candidates throughout the recruitment process.
They’ll be able to give candidates the information they need at different stages, so candidates understand the role and its challenges.
You can ask them to:
A good executive search consultant will:
You can ask them:
A good executive search consultant will have:
You can ask them:
The executive search consultant should use reference checks to verify a candidate’s experience, capabilities and behaviour.
You should:
There may be a situation where a candidate put forward by an influential stakeholder may not meet the requirements of the CEO role.
In such cases, a good executive search consultant will be able to justify their assessment with evidence related to the key selection criteria.
You can ask them:
A good executive search consultant will provide a payment schedule that reflects your entity’s interests.
For example, they may base their payment schedule on the achievement of key milestones such as:
You can ask them: