CEOs are the lifeblood of an organization. Finding a CEO, however, isn’t an easy feat for inundated board members who face a multitude of tasks — from strategy oversight to legal regulatory compliance (and everything in-between).

Board members have an added challenge when it comes to CEO recruitment. The fact is the Great Resignation changed the face of employment, and the C-suite was no exception. CEOs have higher expectations, desire a competitive salary and are still in high demand.

In light of this, challenges in CEO recruitment are plenty, but CEO executive search firms like Duffy Group, which specialize in capturing this coveted demographic, have the knowledge and skills to help boards acquire the talent they need.

Challenges Board Members Experience in CEO Recruitment 

Hiring is hard, whether you’re recruiting an office administrator or the CEO of a major corporation — the challenge is universal and industry-agnostic. Here are some of the biggest challenges boards encounter:

  • Too Many Hats: Balancing strategic planning, stakeholder engagement and crisis management makes CEO recruitment particularly challenging.
  • Never Enough Time: Board directors are already stretched thin with board-related matters and other commitments. Adding the time-intensive recruitment process to their plate creates a significant challenge.
  • Lack of Resources: Finding the most qualified and experienced candidate, vetting them, having a deep understanding of their short-term and long-term goals, combined with salary expectations and other screening processes requires tremendous concentration, time and effort.
  • Missed Opportunities: As a result of limited time and resources, boards have the added challenge of not knowing exactly where or how to search for appropriate candidates. The labor pool, particularly the C-suite level, is narrower than it has been for some time.

Advantages of Using C-Level Executive Recruiters to Identify CEO Candidates

For busy board members who simply do not have the necessary resources, outsourcing recruitment can be one of the best decisions they make. Executive recruitment companies have extensive expertise in sourcing, evaluating and vetting candidates, particularly at the C-suite levels.

Since recruitment is their sole and full-time focus, CEO executive search firms can perform a deeper and more thorough dive into potential C-level candidates, which includes:

  • Creating Professional CEO Profiles: These profiles are specifically designed to attract and appeal to top CEO candidates.
  • Conducting Extensive Interviews & Assessments: Recruiters provide first-round assessments, including technical interviews, personality tests and emotional intelligence assessments.
  • Negotiating Terms of Offer: CEO executive search firms have the resources to research and evaluate CEO compensation to structure and negotiate competitive offers.

C-level executive recruiters also maintain a close watch on current trends and behaviors in the job market to ensure only the best candidates are considered.

Consequences of Foregoing a CEO Executive Search Firm

One of the most prominent downsides of boards “going it alone” in the CEO recruitment process is the risk of not only running out of time but also making a rushed or rash decision because of a rapid need to fill the position.

The role of a CEO’s personal attributes significantly influences corporate decision-making and firm outcomes, making it crucial to select the right individual for the role. Unfortunately, that’s not the only consequence boards may face when foregoing a CEO recruitment partnership — additional outcomes include:

  • Being stuck with a limited candidate pool.
  • Having insufficient resources to conduct the necessary vetting process.
  • Filling the position with an unqualified — or not fully committed — candidate.
  • Risking having to start the recruiting process all over again due to filling the position too hastily or without proper assessments.

The Role of Duffy Group in CEO Recruitment

One of the areas that truly sets Duffy Group apart is our proprietary Duffy Recruitment Research™ search method for strategic CEO placements.

This pioneering process enables clients to leverage a tenacious approach that includes tapping into a wealth of passive talent — professionals who are currently employed and not actively seeking new opportunities but would be open to the right role if presented.

We go to great lengths to not only get in front of the right talent but also heavily research, vet and evaluate potential CEO candidates in each step of the C-level recruiting process.

Unlike many retained and contingent c-level executive recruiters who often rely on a “rolodex” of recycled candidates, our approach ensures a fresh, customized search for each client. This model has enabled us to fulfill abundant C-suite and CEO positions with long-term, successful results.