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Selecting the CEO: A Million Dollar Responsibility

Choosing a CEO is a critical investment for organizations that significantly impacts their future. This guide, authored by Dr. Ken Haycock, outlines the essential steps and considerations in the CEO selection process. Explore the roles and responsibilities of the board, the importance of developing a comprehensive position profile, and effective strategies for advertising and recruiting candidates. Learn about narrowing the candidate slate, conducting assessments, making informed recommendations, and ensuring proper orientation and training. Empower your organization with the right leadership for success!

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Selecting the CEO: A Million Dollar Responsibility

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  1. Selecting the CEO:Your Million Dollar Responsibility Dr. Ken Haycock January, 2004

  2. Million Dollars? Really? • Consider the salary you will pay • Consider the number of years you expect • Consider the investment • Compare to the time and money you invest in selecting a million dollar automation system • Which can do you most damage? www.kenhaycock.com

  3. Preparation: Roles Board Roles and Responsibilities • Board/Chair/Selection Committee • Degree of Autonomy/Trust • Role of the Incumbent and HR Municipal Roles and Responsibilities • Mayor/Chief Administrative Officer • Director of Human Resources and Staff Expectations: Time and Costs…Consultants www.kenhaycock.com

  4. Using a Consultant • Expertise, Connections, Time (ROTI) • Signature vs. Boutique • Detailed Proposal with References • Essential Traits: honesty; problem solver; agrees to salary and commission/fee; works as team member; liaison rather than gatekeeper; expert resource; respects time • Contract (fee; expenses; reporting; guarantee; role of Board and others) www.kenhaycock.com

  5. Preparation: Profiles Developing the Position Profile Key Questions • What the objectives for the position? • What are the competencies and qualities? • What are the barriers? • What are the criteria for evaluating success? Key Informants Developing the Community Profile www.kenhaycock.com

  6. Preparation: Reviews Reviewing the Job Description • different from position profile • reflects current expectations • reflects more than just tasks… Reviewing the Compensation Package • industry comparisons (sector) • geographic comparisons • municipal comparisons www.kenhaycock.com

  7. Advertising/Recruiting • Advertising (the motivating profile not the job description) • Electronic Media (costs) • Print Media (costs, effect, optics) • Mailing Cards & Referrals (to whom and why) • Conferences • Sources of Additional Information • Recruiting (the people who aren’t looking) • Telephone Solicitation & Referrals • Selling the Position and the Community • Closing dates www.kenhaycock.com

  8. Narrowing the Slate Short-listing I: Match to Requirements (30 to 20) (required vs. desirable qualifications) • cover letter • resume Short-listing II: Match to Profile (20 to 12) • review profile and key success factors • use to frame questions • telephone and personal interviews Short-listing III (12 to 4) • reference checks I—authorizations • review all documentation and notes • reference checks II—authorizations www.kenhaycock.com

  9. Selection On-Site Assessment • each of the finalist candidate should be able to do the job and to do it well! • Briefing Book and Candidate Profiles (amalgam of cover letter, resume, telephone interview, reference checks) • Interviews • types and relative importance • Presentation(s) to Staff • Meetings with Senior Staff • Reception www.kenhaycock.com

  10. On-Site Assessment • If using a consultant, one attends and assists the committee with interviews while a second moderates and observes presentations and interactions with senior managers and staff as well as providing an opportunity for staff to provide comment. • All of this information is provided to the committee prior to deliberations. www.kenhaycock.com

  11. Making the Recommendation • Focused Discussion and Deliberation • relative consideration of candidate profile, interview, assessment of presentations and interactions with staff and senior managers • Developing Priority Rankings • Reaching Consensus • Making the Recommendation www.kenhaycock.com

  12. Making the Decision • Recommendation to the Board (Board Motion) • Criminal, Credential and Credit Checks • Negotiating the Contract • Maintaining the Records www.kenhaycock.com

  13. Orientation and Training • Role of the Board/Chair (and others) to ensure smooth entry and early successes • Introductions and liaison • Regular discussion and interaction • Connections to community and mentors • Support for training with municipal staff, community leaders and other library leaders—building connections www.kenhaycock.com

  14. Assessment and Evaluation • Position Description • Position Profile • Goals and Objectives • Self-Assessment; Board Assessment • Annual Reviews • Implications of Conflict Avoidance www.kenhaycock.com

  15. To your success… Dr. Ken Haycock, CHRP • No time to ask your question? • Concerned about privacy? • Feel free to contact me at any time… voice: 604.925.0266 e-mail: ken@kenhaycock.com Web: www.kenhaycock.com

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