The estimated cost of a bad hire ranges from 5 to 27 times the person’s salary (according to topgrading.com). Avoid bad hires by upgrading your interviewing techniques with these five Dos and Don’ts, tailored for executive roles.
✔️ Do: Assess Both IQ and EQ
Leadership is about more than intelligence; it’s also about understanding and inspiring people. We recommend asking questions that relate to both IQ and EQ to better understand the candidate’s values and leadership style.
Example: You are hiring for a CEO position, and the candidate boasts impressive degrees and experience. You present a case study relevant to your company’s challenges. However, the candidate’s analysis contradicts the company’s core values and dismisses them as worthless. This clearly indicates that they are not a good fit, allowing you to focus on other candidates.
✖️ Don’t: Act More Important than Anyone Else in the Room
Even with your busy schedule, treat candidates with respect. This candidate might end up drastically improving your company’s profits, saving you time and money in the long term.
Example: If your interview is set for 45 minutes but the candidate is still talking, let them continue. If interviews are consistently taking too long, reconsider the format or allot more time.
✔️ Do: Prepare Thoroughly
Becoming an executive may not take a linear path. Prepare questions relevant to your candidate’s specific background to assess their strengths more effectively.
Example: You’re interviewing for a CFO position in the food and beverage industry and one of the candidates is from the technology sector. You ask mainly non-industry-specific questions, and recognize the candidate’s potential as a strong executive who can help your company achieve its goals.
✖️ Don’t: Leave the Candidate Hanging
Keep the process positive and respectful by giving clear expectations of when they can expect to hear from you at each stage.
Example: If there’s a lot of bureaucracy and gaps between interview stages, warn candidates in advance to prevent frustration and dropouts. Time kills all deals.
✔️ Do: Have Two Interviewers
Multiple interviewers can balance out unconscious biases and ensure evaluations are based on demonstrated skills and potential.
Example: One interviewer can primarily assess for the more technical aspects of the role while the other can determine the fit in terms of leadership or other people-centric skills.
Effective interviewing techniques improve your chances of finding the right leader. By following these Dos and Don’ts, you will conduct informative and engaging interviews that lead to confident hiring decisions.
For a more streamlined and successful executive search, consider partnering with DERGEL Executive Search. With an extensive network, industry expertise, and commitment to finding the right fit for you, DERGEL Executive Search can help you navigate the complexities of executive hiring and identify top leadership talent for your organization.
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