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Appointing the right MD, CEO or GM is key to the success of your business. It is the most important hiring decision your business can make. So you had better get it right!
It’s even more important than appointing Directors, because Boards are composed of several members. So are management teams. But there is only one MD. Only one CEO. Only one GM. That person sits at the cross roads between the board (or owners) and management. So if you get that appointment wrong, it doesn’t matter how good your board is … they will be stymied.
In my experience, appointing an MD, CEO or GM is the single most influential factor in the strategic and operational future of a business, for better or for worse.
Good strategy without execution is a waste of precious thinking. Good execution of poor strategy is pointless at best. A good MD, CEO or GM must excel in both strategy and execution, formulation and delivery.
Attracting applicants is the easy part. There will always be plenty of people vying for the coveted role of MD, CEO or GM. The hard part is making the right selection.
How much practice have you had at recognising talent at this level? Do you think it’s the same as choosing an engineer, or a secretary? Do you know a recruitment agency that specialises in only CEOs, MDs and GMs? Can they advise you on selection, or do they leave that up to you?
An average appointment will create an average business. And average businesses soon go out of business.
- “The ability to make good decisions regarding people is one of the last reliable sources of competitive advantage, since very few competitors are good at it.” Peter Drucker, famous US business strategist and author of 39 books.
- “Those who build great companies understand that the ultimate throttle on growth for any great company is not markets, or technology, or competition, or products. It is the one thing above all others; the ability to get and keep enough of the right people.” Jim Collins, author of ‘Good to Great’, and ‘Built to Last’.
- “Despite the importance of hiring high performers, most managers pick them only 25% of the time.” According to Dr Brad Smart, author of ‘Topgrading, Avoid Costly Mis-Hires’.
A business can only ever be as good as the CEO who sits at the bottleneck of execution between the board (or owners) and management.
For a confidential discussion about what I can offer you and how, contact me on 0412 921 292, or register to attend my next information session entitled ‘How to Hire the Best‘.
Or you can read a bit more about how I work by going to the process page of this site.
For more detail about me, visit my Linkedin profile or my blog at www.bizdom.com.au
