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There is a misconception that senior executives (CEO, CFO, CIO, COO, etc.) are immune to the challenges and vagaries of a job hunt. The outsider perspective is the top of the top are masters of their universe and slipping into a new role is an effortless, almost automatic process. Nothing could be further from the truth. Not only are there fewer opportunities, but when plum jobs become available, they are hyper-competitive in a way foreign to other exempt employees. It’s indeed a different game played on a different field.
If the letter “C” is in your title, it’s often the Board (or owners) who must be convinced you will bring the greatest return on their investment. For example, in a typical search for a CEO or President of a publicly traded company, the Board of Directors is the hiring party, whereas in private companies, private equity firms, or venture capital, it tends to be the owners. Once that executive is in place, he or she is tasked with building their executive and management teams, but the Board (or owners) still play an advisory and approval role.
That said, while Boards and owners ultimately make the hiring decisions, chances are they are often not involved in the mechanics of the search process, as key decision makers tend to jump in at the end when the slate’s been trimmed to two or three prime candidates.
Many, but not all, Fortune 500 companies have dedicated in-house recruiters who specialize in executive searches. Their contact list is full of executives with whom they’ve built professional relationships, but it’s executive search firms that are on speed dial. Smaller and/or private companies that do not have the resources for recruiters with executive search expertise on their payroll (or choose not to employ them) are beholden to these search firms as well.
What exactly is an executive search firm? In short, the executive search firm is the C-suite’s professional matchmaking service, and executive search firms like Korn-Ferry, Robert Half, and Spencer Stuart have the keys to the entrance. Boards, owners, recruiters, and senior executives know these firms and will answer their phone calls when actively engaged in an executive search. Note: You can find Forbes’s list of Top 100 Executive Recruiting Firms (2023) here.
So, what does this mean for the executive looking for a new role? Here are some tips for the C-level job hunter.
If you’re a senior executive looking for a new position, dipping your toes in the executive recruiting pool is a great first step. Ideally, executives (or future executives!) take care to nurture relationships with multiple executive recruiting firms throughout their careers and not just when they need a new job. Do the research and leg work to become a known top-tier commodity in the hallowed halls of the top firms so that you’re front of mind when a potential role opens up.
Executive search firms recruit across industries, but individual recruiters specialize in specific areas. For example, if you’re a CIO it’s great to have general relationships with executive recruiting firms, but it’s more beneficial to go a level deeper by ingratiating yourself to the recruiters who specialize in tech. You may be disappointed if you rely on the person answering the phone to transfer your call to the right person if that person has no idea who you are.
It is easy to be an island when you’re at the top. Your network may shrink as you climb the ladder. The best thing you can do to accelerate relationships with executive recruiting firms is to be found – pay attention to your existing professional network, be an active and helpful connection to others, and help open doors.
Nurture a positive public presence. Google yourself. What’s out there? How much positive press do you have? Are there any erroneous characterizations you need to counter or attempt to purge? Recruiters and high-level hiring authorities (like a Board of Directors) want their senior executives to be known as thought leaders in their field (and not potential liabilities). Elevate your profile. Do interviews with leading publications. Nudge your way into giving a TED Talk. Cultivate press releases, which can be personal or company-centric. Create online and traditional media content, or even write a book. Speak at a college graduation. Launch a charity. These types of professional endeavors collectively convey your professional brand and may separate you from the pack. On the other hand, if you have a reputation for playing with companies like they’re toys without regard for people’s livelihoods, you may find yourself in a compromising position of your own making. If you inspire the best in people, the best people will want to work for you.
Don’t forget the basics. Your LinkedIn profile needs to be flawless. It will be put under a microscope. Don’t underestimate the importance of professional groups and colleague referrals. You’re a big dog. If you have professional referrals from other big dogs it helps. Statistically, LinkedIn has a low content creator-to-subscriber ratio. Be one of them.
Philip Roufail contributed to this article.
Scott Singer is the President and Founder of Insider Career Strategies Resume Writing & Career Coaching, a firm dedicated to guiding job seekers and companies through the job search and hiring process. Insider Career Strategies provides resume writing, LinkedIn profile development, career coaching services, and outplacement services. You can email Scott Singer at scott.singer@insidercs.com, or via the website, www.insidercs.com.
