CEOs often set out to make an executive hire because they’re in some kind of pain. They might be missing a key player on the team or a person doing the role right now is failing–and it’s affecting everything from performance metrics to relationships with board members. Recruiting the right leader can put an end to that pain or add to it, depending on the quality of the hire. All this pressure can lead an employer to feeling trapped. When you don’t have options, it’s easy to get into a scarcity mindset–a mindset that actually limits your ability to recruit and hire the best candidates.
There are two sides of the table in every hiring process. Masterful recruiting requires understanding the mindset on each side of the table. As a CEO, recognizing and understanding the mindset with which you are approaching the hiring process is crucial if you want to optimize results and find candidates who are uniquely qualified to succeed at your organization.
Much of the pain that a CEO or employer experiences prior to making an important hire has to do with the need for someone to step in and execute the functional role. As the CEO, you might have had to step into the role yourself, on top of running a hiring process and putting out the day-to-day fires that come with running a business in high-growth mode.
And when the need for someone to come in and help you execute functionally is the most palpable thorn in your foot, you’re prone to committing one of the worst hiring mistakes a CEO can make. Because what you’re feeling most intensely is the need for someone who can get things done in the functional role, you might find yourself placing the highest priority on technical chops in the search process.
Technical chops are undeniably important. Keep in mind that candidates with extraordinary skills must be able to perform those skills within a team so that the organization–not just the individual–soars.
To break out of the typical employer’s scarcity mindset, pay close attention to the other defining characteristics that are of huge importance in a hiring decision–core values, unique proven experience, leadership gravitas, agility, biases and critical thinking.
Organizational culture and the human aspect of work are undervalued, even though they are major determinants of your team’s ability to realize the company’s greater purpose. Its impact might not be as glaring as an empty desk in the office, but an organization’s culture is like a strong immune system and it will squeeze out those that are harmful to the greater body.
In reality, the biggest factor determining the success or failure of a leader at any company is a core values match between his or her personal DNA and the cultural DNA of the organization. Culture fit accounts for 60% of a candidate’s ability to build enterprise value within a company. Core competencies, hard skills and technical acumen, are responsible for just 20% of success. Core competencies ensure that a candidate can excel within a role; a core values match ensures that candidates can help you achieve your mission and the vision for the organization.