Strategies and Challenges for Hiring C-Suite Talent

Hiring a new C-suite executive to join your leadership team can be one of the most consequential decisions you ever make.

The departure of key executives can result in a difficult transition in the best of times and finding a replacement signals to employees what your organization sees as a way forward; whether it’s maintaining the status quo or setting forth on a new and different path.

“C-suite talent moves and shapes the direction of the company, so investing the time to develop relationships with this level and caliber of talent is critical. The foundation of these relationships must be a shared purpose and it is just as important for a candidate to get to know the company, as it is for the company to learn about the qualifications of the candidate,” says Forbes.

Strategies For a Successful Hire

“When hiring for a C-suite role we always start with a deep understanding of our client’s need and culture.  We need to understand what “problem” they want this individual to solve.  It could be a turnaround situation or a growth plan for expansion. Identifying the challenges and opportunities of our client helps us align who can lead them down their desired path,” said Mark Fisher, TZR president.

This article addresses one of the essential hiring questions at the C-suite level stating “Developing a clear sense of mission and building a culture that genuinely reflects that purpose is vital. If your culture doesn’t authentically reflect your overall objectives and vice versa, it can be difficult to attract great candidates.”

It’s not necessarily all about the money like it has been in the past. The world works differently these days, and depending on the industry in which you are operating, your organization can use its intangible strengths to appeal to high-level executives. This can mean less focus on a high salary and complicated bonus structure, and more on offering a creative/innovative opportunity to lead. Take this chance to use your vision for the future to appeal to a potential executive’s desire to leave their mark.

Forbes quotes “Most C-level executives have the luxury to choose where they want to do their work. They don’t want a standard package… successful recruiting is about reimagining the C-level role and what it looks like. People are more interested in a portfolio career instead of working at one place for a while.”

Challenges That can be Solved

While compensation may not be the only factor many candidates are focused on, the fact that the market is becoming more specialized has given those highly-qualified executives an unprecedented amount of leverage in hiring situations. This has led to demand for higher salaries and better benefit packages when it comes time to put an offer on the table.

Of course, changes to the overall business landscape have impacted the process of identifying and recruiting C-Suite level executives in a few challenging ways. Advances in technology and the more common acceptance of remote work have, in many industries, created a more cut-throat scenario where the best of the best are in high demand. But it takes a human to guide you through the process and ultimately make the right selection.

“We have a deep nationwide bench of C-suite talent, but when it comes to this level of position we never assume we have the best person ‘on the bench’.  We always take a fresh approach and research the industry at each point in time.  This assures that the best talent in the market has been identified and engaged for each unique opportunity,” said Mark.

Not surprisingly, this demand for qualified executives has also created a C-Suite level shortage that can impact your organization’s ability to adhere to previously determined timelines and schedules in order to keep things moving forward without missing a step.  According to Forbes “There are really not enough qualified C-level candidates across the board.”

One of the biggest challenges we witness at TZR is a company’s slow, inefficient process that is not ideal when filling roles at such a high level. If and when a key target becomes ‘available’ on the job market, their time spent there is limited. Being able to move quickly, attract your ideal candidate and put together an offer that will appeal to them is more important than ever. 

At TZR, we are experts in addressing the strategies and challenges during the C-suite hiring process. Our team of industry experts is tapped into a network of job seekers that will identify the best person for the job every time. Our style of recruiting is most valuable when it comes time to find the newest member of your Executive Leadership team.