Like it or not, the way your company conducts itself will always be noticed by outsiders. The executive recruitment procedure will send a message, especially when general trends of hiring and firing at your business are assessed. It's in your company's best interest to make the transition as easy as possible by finding the most appropriate candidate and orienting them accurately.
In an article for Racked, contributor Lauren Sherman notes that CEO turnover is at a high, currently, and has been stretching all the way back at least to 2006. She cites companies like J.C. Penney and Target as having seen turbulence among higher levels of management recently.
She traces the rise in departing CEOs to a multitude of competitive business practices, including scandals, bad performance and being "poached" by other businesses in the same field.
"Sometimes, a CEO is great at accelerating growth when a company is still young, but keeping up the momentum requires another set of skills," she said. "Other times, there's a personal matter that overrides any professional responsibilities."
She also cites information from a report that showed nearly 60 percent of retail companies changing their CEO from 2006 to 2011, with nearly a third leaving during half of that period. The length of the search for a replacement varies, and depends at least somewhat on the experience level of the recruiter the company uses.
Professional recruitment companies already know some of the best tactics for finding possible CEOs, even among less active candidates. With an executive search firm, your company will find appropriate people sooner and reduce the amount of time between management tenures.
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