Perhaps no decision has such far-reaching implications for the long-term success of a company like choosing a new CEO. You likely know of at least one business that chose poorly and paid dearly for the mistake. On the other hand, a savvy selection can launch an organization to new heights.
So just what should one look for during an executive search? In an article for the Harvard Business Review, Justin Menkes describes how he analyzed performance data of 200 CEO candidates, and then conducted detailed interviews with dozens of current and former executives. He found that the most successful ones shared three traits:
- Problem-solving skills: CEOs have a unique ability to take a bird's-eye view of the professional landscape, effectively solving complex problems on-the-ground within the context of the big picture. In Menkes words, they have a knack for bringing order to chaos.
- Realistic optimism: The best executives are positive, energetic and daring, yet they do not nurture delusions of grandeur. They have big plans and goals and know how to create realistic strategies to realize them.
- Sense of mission: Successful CEOs possess an unwavering belief in their personal purpose and the larger mission of a company. They find enormous meaning in their work, channeling all of their energy into advancing the interests of the business.
What other qualities make a CEO great? Look for someone who exudes confidence and competence, yet also possesses "soft skills," like the ability to communicate effectively and show compassion. Remember that an executive sets the tone for a company, so also look for someone who is a good cultural fit.
Needless to say, finding candidates who meet all of the above criteria, in addition to possessing the necessary experience in a particular industry, is challenging. That's why any global executive search should involve experienced recruitment professionals.
Finding people is easy, but finding the RIGHT people is not. YES Partners helps companies FIND the right people – for all company functions, across many industries and globally.
