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Things You Need to Know About Executive Selection

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There is no decision that an organization makes that is more important than the selection of its CEO and other C-Level executives. Executive selection is more important than ever before, and the costs …

There is no decision that an organization makes that is more important than the selection of its CEO and other C-Level executives. Executive selection is more important than ever before, and the costs of high-profile leadership failure continue to grow. This Presentation highlights the things that you need to know when it comes to executive selection. It also takes you through the turnover risk associated with high profile executive selection and the ways in which you can deal with this risk. It emphasizes the use of a scientific and data driven approach to hiring decisions.

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  • That completes our review of fourth quarter and full year 2006 results I would now like to turn your attention to our Investor Day presentations…..
  • Transcript

    • 1. Things You Need to Know About Executive Selection Todd C. Harris, Ph.D. Director Of Research PI Worldwide
    • 2. Roadmap
      • 1. Background
      • 2. The Turnover Risk
      • 3. Selection Decisions
      • 4. Data Based Approach
      • 5. Succession Planning
      • 6. The Selection Process
    • 3. Background
      • Executive Selection Is a Critical Organizational Decision
      • Costs of High-Profile Leadership Failure Continue to Grow
      • The Right CEO & Other C-Level Executives Can Execute Strategies Effectively
      • Good Leaders Can Smoothly Change Directions If Environmental Conditions Change
    • 4.
      • If You Have the “Wrong” Leaders, Then Even a Brilliantly Conceived Strategy Won’t Matter
      • “ Wrong” Leaders Are Poor Strategists
      • They Lack a Clear Vision & Direction
      • They Lack Organizational & Motivational Skills
      Background
    • 5. The Turnover Risk
      • According to an Annual Study by Booz & Company, the Turnover Rate at the World's 2,500 Biggest Publicly Listed Companies Remains High At 14.3%
      • Financial Sector Saw the Most Blood-Letting With 5.2% of Bosses Fired & A Turnover Rate of 17.2%
      • There Is a 25% - 30% Probability of a New U.S. CEO Being Fired During His or Her Seven-Year Tenure
    • 6. Selection Decisions
      • Executive Selection Decisions Go Wrong, Probably At Least 50% Of The Time
      • Executive Failure Is Common, Across Industries & Across Countries
      • The Rate of Executive Failure For Leaders Brought In From Outside of The Organization is Even Higher
    • 7. Data Based Approach
      • A Logical & Data-Based Process Increases The Likelihood Of a Successful Executive Selection Decision
      • The Tools Used For Making Hiring Decisions Have Improved Substantially Over Time
      • Understanding The Process Of Executive Selection Is Most Essential
    • 8. Data Based Approach
      • A Combination Of Well-Validated Instruments Is Critical
        • Interviews
        • Personality Assessments
        • Assessment Centers
        • Competency Models
        • Measures Of “Fit”
        • 360 data
      • All Of These Typically Lead to a More Well-Informed Decision
    • 9. Succession Planning
      • Ask Newly Hired Executives About Their Approaches To Developing Their Own Successors
      • Send The Signal That CEO’s & Other C-Level Executives Are Taking The Issue Of Succession Planning Seriously
      • Involve Board Of Directors In These Decisions
    • 10.
      • Key Questions That Should Guide The Executive Selection Decision
        • What Do We Need To Know About The Role?
        • What Do We Need To Know About The Company?
        • What Do We Need To Know About The External Environment?
        • What Do We Need To Know About The Candidates For The Role?
      The Selection Process
    • 11. The Selection Process
      • Some More Questions To Guide The Selection Process
        • What Combination of Methods Can We Use To Most Accurately Access the Information That We Need?
        • Once We Have the Information, How Do We Evaluate It, Combine it & Arrive at a Decision?
        • What Constitutes a Successful Executive Selection Decision For the Company, Both with Respect To the Process & the End-Result?
        • What “Post-Hire” Developmental Support Does The Company Need to Put in Place to Most Fruitfully Manage the Initial Selection Decision?
    • 12. Want to Know More?
      • I mprove Your Odds of Getting the “Right” Leaders on the Bus & Keeping the “Wrong” Ones off.
      • To Know More, Visit http://bit.ly/executiveselection
    • 13.
      • Thank you!
      • Questions? [email_address] | @piworldwide
      • http://www.linkedin.com/in/piworldwide
      • More Information: http://www.piworldwide.com

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