No single factor affects your business more than the decisions you make as CEO or owner. This includes the decision to seek out and hire the best people for your executive team.
All too often, however, we don’t hire the best talent we can find. We settle. Why? There are -plenty of reasons for this – “The right person costs too much” or “We have to get moving and hire someone now.” Or, after a lengthy interview process, you narrow the choices down to three individuals, all of whom look good on paper. The problem is, you really don’t like any of the top three for the job, but you hire one of them anyway.
Time and again, we under-hire and wonder why the people we choose under-deliver.
Tempting as it may be, I urge you not to settle! Be prepared to exchange some short-term pain (leaving a key position open longer than desired) for the long-term gain. The person you choose to hire for a senior-level position is one of the most important business decisions you’ll ever make.
All about people
Sure, there are things you’re good at, like building a successful business. But any good leader knows where his or her weaknesses lie – and hires accordingly. It’s OK to recruit individuals who are “better” than you in certain areas. They bring strengths to the enterprise you could never supply on your own. You also get some balance and a fresh perspective from a great hire.
Some business owners may feel reluctant to bring on someone with stellar experience and skills because they perceive this person as a threat. But if everything is aligned within the organization, this shouldn’t be an issue. Although finding that individual may take longer and cost more money, it’s worth it. Finding the right person enables you, the CEO, to extract yourself from daily tactical situations and focus more closely on long-range, strategic opportunities – the kinds of opportunities that help ensure future success and growth.
I used to think business was all about the numbers. Now I know, it’s all about people. The right people make the numbers.
The fine art of high-level decision-making is only one of many aspects of leadership discussed by members of Catapult Groups. Watch this video to see how CEO Tony Barajas leveraged his peer group experience to make better decisions for his business.