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Hard Work: The Successful C-Level Search
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Kimmel & Associates has successfully completed hundreds of C-Level Searches. Our business is identifying and assessing outstanding executives and recruiting them for senior leadership roles. In the process of filling these many searches, we have learned the intricacies of successfully performing the mission critical C-Level Search. Though all searches possess subtle differences, our experience tells us they share three criteria imperative for success: verification of the candidate's basic attributes, understanding and accepting the candidate’s motivation, and identifying and evaluating the selected candidate’s cultural fit within the company. The process to execute these three steps takes time, diligence, and energy - it is hard work. Work which, if performed properly, will have significant value and benefits for decades to come. Whether you are considering a change personally or are in the market for the impact of a C-Level professional, be mindful of these three key points.
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"The Starting Place" Basic Attributes
by Mark Deverges, Kimmel & Associates Consultant
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Kimmel & Associates works with middle and upper level managers looking for their next career step. In fact, we have developed our own Career-Directed Approach™ to recruiting. This determines a candidate’s career motivations, professional strengths and weaknesses, as well as career goals. C-Level candidates must have the necessary tangible skills to handle the job; therefore, the more practical criteria to begin with is the Basic Attributes List.
We polled some of our C-Level Certified Consultants on this question. The following points were continually unanimous:
Market Knowledge – Senior executives must have a thorough knowledge of their industry. Working alongside managers who are moving higher within the organization will provide you with insights and help you develop the expertise needed for future growth.
Results-Oriented – Executives at this level expect results. They are focused on how to transform businesses in order to significantly improve results.
Customer Focus - These managers understand the value the customer brings to the success of the company and how building relationships enhances the growth of their business.
Strategic Vision – C-Level executives must be able to visualize and understand the big picture, enabling them to lead the company through economic turmoil and growth to maximize shareholder value over both the short-term and long-term.
Opportunity - Companies are looking for managers who are able to identify opportunities that develop for the company. Sometimes these opportunities arise from problems within the company or from growth itself.
Leadership – Energizing employees by positively impacting employee performance in creating an atmosphere of integrity, dedication and communication.
Organizational Development – Ability to develop talent within the organization, thus enhancing the management skills of future leaders by creating an atmosphere and a path for advancement within the business.
Communication Skills - Ability to communicate verbally and in writing effectively, whether this applies to board members, clients, or employees.
Problem Resolution – A manager who is able to effectively resolve problems that develop throughout the course of their career. These types of managers possess a skill set that enhances the reputation of their company, which brings value within and outside the organization.
The above attributes are imperative in identifying the best candidates, but they are only the first step in the selection process. What further separates a successful C-Level candidate from others lies in the intangibles.
The following article addresses general motivations of accomplished C-Level candidates.
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"The Next Step" - The Right C-Level Candidate - The Intangibles
by Mark Deverges, Kimmel & Associates Consultant
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The performance of a company’s senior level executives is critical to the success of an organization. Without the right people in the right positions at the right time, a company risks mediocre decisions, mediocre action, and mediocre results.
So, how do you find top level executives who are able to lead your company through growth periods and crisis situations?
You must be focused on obtaining the best performers -- the top executives in the industry. Excellent C-Level employees perceive more by developing a better and faster understanding of what they see. They combine vision and strategy to achieve results. They have mastered the business through performance. They are motivated to achieve.
These individuals are almost always passive candidates. These “Impact Players” are driven by certain consistent draw factors such as amplified challenge, recognition, and achievement, but most importantly, their fit within the organization.
Kimmel & Associates’ Executive Vice President, Jim Coddington, has observed that the key element in attracting the strongest talent is helping the talent to discover the quality of the “draw factors” that exist in a client company. Naturally, to do this effectively we must be able to have open and honest dialogue to fully comprehend each C-Level candidate’s motivating draw factors. This is developed through long-term relationships with these individuals.
In recruiting executive level talent, we have found fewer than 20% of executives indicate they plan to retire within their current organization - despite loyalty and long-tenured accomplished careers with their current employer. When asked why they would consider a change, typical responses include: unhappiness with the current support from the Board, desiring a bigger challenge, or wanting to accomplish more within another group. These core issues are visible at many levels along the career ladder, but those at the top encompass these intrinsic points. One current COO candidate who is running 12 companies, reports to the Owner/CEO, and has over 15 years within the company succinctly stated:
“My current situation is fine, but I am no longer challenged. I see where my career with this group is headed – and it runs in close parallel to where I am now. Sure, I can continue to grow the group – but I’m seeking a bigger challenge and to have more autonomy.” –Anonymous COO
In reviewing the data of why our C-level candidates changed jobs, it was clear that their main points were mostly in line with challenge, achievement, and culture:
- Reason #1. Feeling that the potential employer presents a better philosophical fit for them. C-Level candidates, like their employer, want to feel as if they are working toward a common goal.
- Reason #2. Relationship with Board or other C-Level executives. If there is not a cultural fit within the executive group relating to performance, tasks, and growth, then there is much less motivation in one's current position.
- Reason #3. Live for the challenge. When someone has “my job here is done” feeling, you realize you could be achieving more elsewhere.
- Reason #4. Restrictions on doing one's job. Too many times, the owner or fellow C-Level executives do not follow through on delegating the tasks at hand. When an individual believes they no longer have the freedom to make decisions or implement tasks freely, it may be time for a change.
- Reason #5. Better benefits beyond compensation, ownership, and profit sharing plans. This also ties into an overall improved work to life balance.
According to Mark Jones, Vice President at Kimmel & Associates, gaining a career- focused rapport with C-level candidates leads to these insightful conversations. It takes skill, experience, and a deep level of commitment to the Career-Directed Approach™ process to consistently gain the confidence of leading candidates in obtaining this information. Having this foresight and ability will enable the company to discover patterns and motivations for career progression.
This progression of motivation in the mindset of accomplished C-Level candidates is a natural occurrence. There is an additional piece in ensuring a well-suited integration in an organization. This point goes deeper than skill sets, motivations, and qualifications as it encompasses the culture and fit within an organization.
“Digging Deeper” will explore the science of measuring the fit within the management team and organization.
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"Digging Deeper" - The Art of Identifying the Right Candidate
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Hiring, promoting and developing the right senior executive team and avoiding costly mistakes has never been more important. Unfortunately, too often companies make these tough decisions based on inadequate, incomplete, and undependable information.
The cultural fit for a candidate within the client’s organization is important in assessing the success of that candidate. The candidate’s enthusiasm and motivation as well as the ability to interact effectively with other members of senior management is critical for companies building higher levels of collaboration and performance.
Most business leaders know intuitively what academic research has consistently confirmed: company culture is a powerful driver of business performance. Strong, adaptive cultures foster innovation, productivity, and a sense of ownership among employees and clients.
Research has found companies with strong performance cultures have an 11 percent higher annual return to shareholders and a 5 percent higher return on investment capital than those with weak performance cultures. Building a strong, adaptive organizational culture is a significant source of competitive advantage and brand differentiation in business today. But how do you build a strong adaptive culture? It begins with senior leaders. Having the right people not only with the skills and experience, but with a mindset that compliments the executive team as a whole produces a strong culture.
How will the candidate filling your void assimilate culturally with the company and executive team members?
This is where the hard work really begins, where diligence and deliberate action can ensure a rewarding outcome for all parties involved.
How many times has a company hired the “perfect” person for a critical position only to have revenues decline, morale fade and profits erode? Everything was checked: technical ability, education, work history, community service, leadership, industry following and proper motivation were all addressed and approved. How could it have failed so horribly?
It has been our experience that in the vast majority of these cases the C-Level candidate, though perfect in every other respect, was simply not a good cultural fit within the management team or the company as a whole. Whether you call it attitude, philosophy or style, when the personality of a new key team member is at odds with the existing group, a significant obstacle is placed in the path of the company’s success. What results is confusion, followed by friction, resulting in gridlock.
Simply put, if a person does not fit culturally, all of the prior work in vetting the candidate is wasted time and energy. This is the key to a successful C-Level hire, the fit within the team. At lower level positions, this factor can be ignored or at least overwhelmed with extreme dependability, effectiveness or productivity. It can still be a successful hire. In positions of leadership there is not that luxury, thus adding this most critical aspect to any C-Level search.
Assessing this cultural fit in any organization is difficult. Oftentimes it makes sense to utilize the various assessment tools available to evaluate the existing culture of the company prior to the start of the search process. This is difficult work and seemingly adding an additional step and expense to an already cumbersome process. Additionally, testing the candidate after the traditional vetting process has been completed is an understandably daunting task. But the real hard work is to have the courage and fortitude to stand by the results of such an evaluation.
It is certainly not our contention to put 100% trust in any personality test; quite the contrary. The key is to have the information, and understand its significance. It is only at this point can all of the factors be weighed properly, resulting in a responsible decision.
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Conclusion
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Whether you are an executive looking to make a change or preparing to fill a critical C-Level position, it is crucial to understand the subtlities of the process. As the old saying goes, “it is not people who are a company’s greatest asset, but the right people.” Attracting the right people is critical at every level but never so important as those making profit and loss decisions who will determine the fate of the organization. Identifying the person with the basic skills, intangible motivations and cultural congruity is difficult on many levels. Never will a deliberate, focused and well-executed effort be more necessary.
In our experience, companies that take the time to develop a proper search plan and vetting process for senior level executives, are better able to attract the right candidate and therefore, put their company in the best position to excel.
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