How Does A CEO Search Work?

Hiring a search firm to find a new CEO for a company is a wise choice, but the process can be quite long for these companies. The search firm is charged with finding someone who can lead the company for the foreseeable future, and finding someone of such importance can be quite difficult. This article explains how the search firm will carry on its business, how the CEO is presented to the client and how a company can go about its business while someone else does the search for them.

#1: What Does The Company Want?

The board of directors of any company can hire a search firm to find a new CEO who has the qualities that the business prefers. The qualities of a CEO change throughout the years, and the board of directors must choose a direction in which to go. The new CEO may need to carry on the work of the old CEO, or the new CEO may need to go in a new direction. The search firm will take these qualities into account when looking for a new candidate.

#2: How Does The Search Work?

The search is conducted by staffing professionals who will find candidates who are interested in the job. Well-known names in the industry include Dennis Carey of Korn/Ferry International. There are many executives around the country who may be interested in the job, and these people will be interviewed and vetted by the staff. The staff will complete a report for the board of directors, and the board of directors will make their decision based on this report.

The report may include just one person, but there are times when the report may include two people that the board must choose from. The staffing company gives the board people to choose from, and the board can spend a bit of time choosing. The company did very little of the search, but the search culminates in a person who is capable of leading the company. Choosing a CEO is much different from choosing other members of the executive team, and the professional staffers understand this difference.

A company that is in need of a great leader can find one of those leaders using a search firm. The search firm will find someone who is perfect for the job, and the person chosen will lead the company based on values and principles that are most important to the business. Leaving this to the search firm makes matters much simpler.