I was recently speaking to a CEO of a successful mortgage company regarding their need for a new Chief Marketing Officer. We were discussing where they were in terms of viable candidates and whether they wanted MSA to conduct a search to fill the role. The CEO commented, “Well, we have one guy that we’re talking to….he’s a safe choice.”
After finishing our conversation, I reflected back on that comment….”safe choice.” It immediately struck me. Why would you ever want to hire someone in such a critical role who is merely a “safe” choice? I get a mental picture in my head. The picture is someone who is probably capable of doing the job but who is also not likely to do anything too remarkable in terms of contributing to the organization.
Why would this be acceptable?
This is a company who has been successful, has strong leadership and is not having cash flow issues. Marketing is the “face” of your business…..your CMO is the Wizard behind the curtain who will be driving the consumer interface with the world. Why wouldn’t you want someone who is going to bring fresh new ideas? Someone who would be innovative and contribute in a meaningful way? Move the needle, so to speak.
Too many companies are content with the status quo. Instead of really analyzing how their leadership team is making an impact (or not) often times, lenders stick with the same executives for years. They use their ability to “do the job” as the yardstick. This is not always the case – we do have clients who constantly evaluate their C-suite and make changes when necessary. But unfortunately, this is more the exception rather than the rule.
Time to Analyze.
Performance during a challenging market is where the rubber meets the road. This is the time to analyze your key players. To determine whether they are able to pivot and execute. Or are they just “coasting” and hoping the market will turn soon. Leaders should perform critical executive evaluations at least annually by looking at the following benchmarks:
- What positive contributions has the Executive made in the past 12 months?
- Is the Executive constantly evaluating new strategies to enhance the company’s position in the current environment?
- Does the Executive display a positive and motivating attitude to their team or are they consistently discontent? (This one is critical; negativity has a distinct trickle down effect and can cause real damage)
- Does the Executive consistently make good judgement calls and do they approach problems with proactive solutions?
- Do you completely trust the Executive to make decisions or are you finding the need to oversee/override their actions or decisions?
- How do they play in the sandbox? In other words, are they able to collaborate with the rest of the leadership team in a positive way that yields results or are they often passive, waiting for someone else to resolve issues?
- Finally – have they moved the needle? Do you have concrete examples of contributions that have truly made a difference to your organization?This should be the reason you hired every member of your leadership team. You saw in them a skill set and an ability to execute your vision that sets them apart from the typical talent pool.
The Objective.
The objective in hiring any Executive should be to target individuals that bring something enticing and valuable to your organization. Simply the ability to ensure their department doesn’t crash and burn is a flawed yardstick.
If you have determined that your leadership team could use improvement, schedule a call with MSA. We can discuss how we can assist in upgrading your team within any department. Includes but not limited to the C-suite, Operations, Production, Secondary, Finance, Legal, Technology, etc. MSA has literally conducted thousands of searches in all of these areas over the last 3 decades for firms seeking Needle Movers.
