When you're looking for someone to lead your company through all the ups and downs of business, for a number of years to come, you need to be confident they can weather any storm. An effective search for a chief executive officer has to consider many disparate issues, including what every candidate brings to the table. However, there are some qualities you should prioritize in your search, as they can go a long way toward helping your company in today's business environment, regardless of industry.
The following are just a few examples:
1) Constant communication
First and foremost, a good leader in modern business is diligent about making sure the right people under them always know what's going on with the company and fully understand their roles within it, according to Uptegy. Simply put, you never want to be in a situation where managers are making decisions while also being relatively "in the dark" as to what the CEO wants or expects of them.
2) A detailed, grand vision
Obviously, you want any chief executive you hire to have a direction in mind for your company once they take over, Uptegy advised. However, that vision needs to include more than just a "Where will we be in five years?" endpoint, but must also address how you will get there at every step of the way, and even what that means for every individual department.
3) A deep understanding of technology
In some form or another, your business is powered by technology, and your CEO needs to know that tech inside and out, according to AiThority. While everyone does some amount of learning on the job upon their hiring, you should prioritize the candidates who clearly demonstrate their quality in this realm.
4) Willingness to decentralize their authority
CEOs take on a lot of responsibility, but just as important as wielding that power effectively is delegating it, AiThority said. No executive should be pulling every lever at your company, and when they trust the decision-makers under them to take the right steps on their own, it gives them more time to focus on other areas of the business.
5) Flexibility
In business, as in life, not everything is going to go according to plan, and your CEO should operate under that assumption, according to McKinsey. Too often, executives become rigid about how they feel a business should proceed, even when problems (like a pandemic) arise. The companies that get through difficult times most effectively tend to be the ones with leaders who are able to craft and pivot to contingency plans as needed.
Of course, there's no one-size-fits-all profile for a chief executive, as your company's needs may be quite different from even those in your specific field. As such, you still have to weigh a wide variety of factors before making such a big decision — and YES Partners can help. To see some of the roles that we have already successfully placed, click here.
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