How to Hire Senior Executives
Understanding how to hire senior executives is an important skill for a startup CEO. The CEO can think through the following alternatives:
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In all startup ecosystems there are informal ways for interested executives to meet startup CEOs.
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Hire friends of your friends or those recommended by advisers or other startup CEOs.
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Hire consultants as consultants. Later they may be migrated to employee roles.
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Retain an executive search firm (only after you are flush with cash)
In all cases, look for candidates used to smaller organizations and don’t focus on those with big-business credentials. They may be accustomed to having a lot of rules to follow and to having large staffs to do the work.
How to select an Executive Search Firm
Consider the following in retaining an executive search firm:
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There are thousands of agencies, who can provide similar service. You need to shortlist a few, on the basis of recommendation and ratings.
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When you have your shortlist, meet the consultants personally for better understanding.
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Find out for how long the agency and individual have provided these services.
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Ask them how they identify candidates for such jobs, and how they will select candidates for your job requirement.
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Understand their payment terms. It is better to select a firm that charges with instalments.
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Ask what the agency will do, when you find their candidate is inappropriate for the job, within the first month of joining.
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Talk with a few of their past clients.
Conclusion – How to Hire Senior Executives
The search agencies can gift a jewel to your startup. If you are having a number of management vacancies, then you must look for a consultant. They can analyse the candidates according to your business needs. Alternatively, if you are still cash constrained; work through your consultants, friends and colleagues.
References
- How to Hire Your First Employees – WSJ
- How to Attract Talent to a Small Company
- How to Select an Executive Search Firm – Bloomberg
- How to Choose an Executive Search Firm – csi-executivesearch.com
- Association of Executive Search and Leadership Consultants
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