Maybe you are new in the world of Human Resources, or perhaps your company has just grown enough that you are hiring executive-level roles for the first time. In any case, your first time hiring for an executive position can be intimidating. This is a very important hire that can change the direction and even the culture of your company. Luckily, there are many resources available. Here are three tips for your first time recruiting and hiring an executive:
Work With an Executive Recruitment Company
When hiring for an executive role, you need the right recruitment company. In particular, you should look for a company that specializes in recruiting executive-level applicants. They will know exactly how to tailor your job description and distribute it in the best places to start attracting top executive talent.
Just as importantly, they will know how to screen out candidates who are under-qualified or a poor fit for your company culture, saving you time and resources. The executive recruitment company will likely assign you to an individual recruiter who will work closely with you during the entire hiring process.
Get Clear on Salary and Benefits
Experienced executives know how much value they add to a new company. In order to be competitive, you should be offering a salary and benefits package that is similar to other companies hiring executives in your area. In addition to a competitive salary and basic benefits like healthcare, executives often expect to receive perks such as signing bonuses, moving allowances if they currently live elsewhere, stock options, and more.
If your company isn't currently in a position to offer a competitive salary and benefits package, you may want to delay hiring for this role while you revisit your budget. Perhaps hiring for other, more junior roles, or paying for company initiatives can be paused or slowed down for a quarter to help you find room in your company's budget.
Carefully Craft the Interview Process
The interview process is very important for an executive-level role. You will want to have a sense of how cohesively the new hire will fit into your existing team, so they should have interviews with everyone they will be working closely with. You also want to present interview questions that prompt thoughtful responses and show you how much self-awareness candidates have. Your executive recruiter will also have great ideas for how to manage interviews.
Recruiting and hiring an executive doesn't have to be stressful. Simply work with an executive recruiter and follow the tips in this article, and you'll be off to a great start.