How to hire executives

An executive is more than a manager.

What is an executive:

An executive is a high-level leader who helps a company grow and motivates the workforce to reach important goals. They may focus on a specific area, like marketing, finance, or technology. Executives are important representatives of the company, so they need to build trust inside and outside the organization.

The main difference between an executive and a manager is the level of responsibility and authority. Executives have more responsibility and authority than managers. They make decisions that affect the entire company, while managers make decisions that affect their team.

Why hire an executive:

• Executives oversee the company's strategy. They set the company's vision, develop business plans, and make sure the company is on track to meet its goals.
• Executives help the company grow. They use their experience and knowledge to find new opportunities and adapt to changes.
• Executives motivate the workforce. They create a positive company culture and encourage employees to do their best.
• Executives represent the company. They talk to customers, investors, and other people who care about the company. They show the company's values and commitment to doing great work.

When hiring an executive, ask your company some additional questions first:

• What does the company want to achieve in the near future and in the long run?
• What are the company's important beliefs and principles?
• What type of leadership approach does the company prefer?
• What results are expected from the executive's work?

How to make the deal:

• Research the candidate before making an offer. Check their references and verify their credentials. Understand what motivates the candidate.
• Highlight the company's potential and strengths.
• Emphasize the role's impact and scope of responsibility.
• Be willing to negotiate in good faith. The executive may negotiate the salary, benefits, and other terms of the offer. Address any concerns and offer a customized onboarding plan.
• Be patient. Finding the right executive may take time. Don't settle for the first candidate who comes along.

Interview questions:

1. How do you measure the company's success?

Why it matters:

Executives don't just make a company successful, but also evaluate it regularly to ensure a good return on investment.

This question helps you determine if the candidate understands important business metrics and thinks about what success means to them and others.

What to look for:

• Responses that address both financial and non-financial metrics.
• Signs that their business values match those of your company.

2. What does our company do well? What is one thing you would change?

Why it matters:

A candidate who can give clear explanation has done their homework, is ready to join the team, and understands the job.

Their response also shows if they share your company's mission and values, which helps you know if they will fit in with the culture.

What to look for:

• Responses that show they understand your company's position in the market and what makes it different.
• Responses that show they can be honest while still being respectful, and they use data to support their ideas.

3. Who do you admire as leaders and why?

Why it matters:

People often get inspired and guided by others, such as a former boss, a notable figure, or a big company's CEO.

How the candidate answers can provide insight into their management style, personality, and aspirations.

This can help you decide if they're a good fit for your company or can bring a new perspective.

What to look for:

• Thoughtful responses that emphasize the candidate's reasoning over the answer itself
• Whether the candidate is giving answers solely to please you. If they cannot explain their choice, they may lack the self-reflection required for the position.

4. What is your favorite way to manage a team? Can you give examples?

Why it matters:

This question will help you understand how a candidate leads a team and whether their approach will work well at your company.

Do they make all the decisions or do they work with their team to find a solution?

Are they hands-off when you need someone who is more involved?

Do they have the experience needed to manage effectively?

What to look for:

• Clear explanation about how their management style improves business outcomes.
• Their ability to adjust their style based on the situation and current needs.

5. Tell us about a time you found a new business opportunity that required additional resources. What did you request and why? What was the outcome?

Why it matters:

Leaders who focus on their company's future plans are always looking for new opportunities.

They should also be aware of the company's current capabilities and determine if an opportunity is worth investing in before discussing it with others.

What to look for:

• Examples showing how the candidate can effectively justify the need for more resources to gain support.
• Ideally, answers that show the request was approved and that the initiative was successful.

6. Tell us about a situation you introduced a new approach to your company. Why did you do it, how did you achieve it and what was the outcome?

Why it matters:

As an executive, it's crucial to create positive change. This means coming up with and carrying out new processes, even when faced with opposition from stakeholders and employees.

To ensure success, it's important to get buy-in from everyone involved and address any concerns that may arise.

What to look for:

• Does the candidate understand the importance of effective change management?
• Has the candidate successfully implemented new ideas in the past?

7. What are your goals for this role and the company if you were hired? And what about in the next three years?

Why it matters:

Hiring an executive is a big step, so you need to make sure that the candidate is thinking about staying for a long time.

This question checks for ambition, passion, and practicality. Does their vision align with your company's needs? Are their goals realistic or too conservative?

This can also help you evaluate the candidate's knowledge of your company.

What to look for:

• Signs that the candidate is enthusiastic about making a positive change in the short and long term.
• At least a basic plan of action prepared — if a candidate doesn't have one, they lack the ambition and motivation to excel in the role.

Executives oversee strategy, help the company grow, motivate the workforce, and represent the company.

When hiring an executive, it's important to understand their role, responsibilities, and impact on the company.

Ask questions about their leadership approach, goals, and past experience. Focus on measuring success, understanding the company, admiring leaders, managing teams, finding new opportunities, introducing new approaches, and setting goals.