Interviewing candidates for any role is a challenge – but finding new leaders requires a unique approach that focuses just as much on the person’s ability to think strategically and fit into company culture as it does their technical expertise.
In our roles as outsourced finance directors, we regularly provide our clients with advice on recruiting new hires at executive level, both within their finance function and more broadly across their business. Here are some tips to help you get more insights from your executive interviews and speed up your decision-making processes.
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Clarify the expectations of the role
This needs to take place in the preparation stage, before you invite any candidates in for interview. You and the rest of your leadership team will need to define the role’s primary objectives, including the strategic goals you want the executive to achieve. You should also clearly outline the required skills, experiences, and leadership traits you’re looking for; many of these will be specific to your company’s culture and vision.
From here, you can tailor your interview questions to explore how the candidate’s experience aligns with these expectations. For example, if innovation is critical, ask them about times they’ve led transformative initiatives in their previous positions.
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Prepare a blend of behavioural and situational questions
Behavioural questions help assess how a candidate has handled specific scenarios and offer some insight into their decision-making process. For example, you might want to invite them to tell you about a time when they faced a major setback, and how they handled it.
Situational questions, on the other hand, assess future actions by presenting hypothetical scenarios the candidate might encounter in your company, such as handling a budget crisis or integrating a new acquisition.
It’s important to work with both question types to get a well-rounded view of how your candidate has reacted to various scenarios in the past, and how they are likely to respond to company-specific challenges in the future.
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Use the interview to evaluate their strategic vision and problem-solving skills
Executives need a clear vision and the ability to anticipate long-term challenges. So, ask your candidates how they’ve developed strategies and achieved buy-in from teams and stakeholders.
You could even request examples of complex problems they solved to gauge their approach to analysing issues, generating solutions, and implementing change.
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Assess their leadership style to make sure they are a cultural fit
They will eventually be responsible for shaping and influencing your environment – so your new executive needs to be compatible with the culture you’ve created within your business.
Ask about their leadership philosophy and how they foster teamwork, accountability, and inclusivity. Situational questions about how they handle conflict, support underperforming teams, or navigate difficult feedback are useful for understanding their leadership techniques in practice.
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Look for evidence of their adaptability and resilience
Your business is evolving, and your market is dynamic, which means you’re looking for someone who can adapt to new challenges with ease. Ask candidates about times they led their people through major changes or setbacks, especially those outside their control. You can also request examples of instances when they showed resilience, particularly in high-stakes or high-pressure situations.
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Explore their track record with stakeholder management
Creating and maintaining strong stakeholder relationships is key for executive roles, and much of this comes down to exceptional communication and negotiation skills.
Ask about each candidate’s experience in working with boards, investors, and key partners. You might ask, “How have you built trust with stakeholders, and how do you handle conflicting priorities among them?”
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Discuss metrics
Ask about the KPIs they have been responsible for, and the systems they have used to track and report on performance. Remember, you’re looking for candidates who not only set ambitious goals but also demonstrate a systematic approach to achieving and measuring progress.
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Assess their emotional intelligence (EQ)
Emotional intelligence often distinguishes top executives, as it impacts their ability to inspire and connect with teams and navigate interpersonal challenges. It’s also widely known that having a high EQ is essential for managing teams, handling pressure, and fostering collaboration – so this is a non-negotiable quality in any successful candidate.
Ask questions like, “How do you handle stressful situations with your team?” or “How do you approach giving and receiving feedback?”
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Include peer and panel interviews
Arrange interviews with potential peers and board members to see how the candidate might fit with various stakeholders. These interviews also show how the candidate interacts at different levels, revealing their adaptability and humility – and the feedback you gather from the attendees will be invaluable.
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Use assessments or case studies
Present your candidates with real or hypothetical business cases, asking them to outline how they’d approach strategic decisions, such as entering a new market or restructuring a department. Framing their responses within these kinds of case study scenarios will allow you to see their analytical skills, decision-making approach, and potential for innovation in action.
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Evaluate their commitment
Your executives are crucial for shaping your company’s future, so it’s essential to gauge whether their vision aligns with yours, and whether they’ve got what it takes to support your ambitions in the longer term. Ask them to describe where they see the industry going, and how they’d like to contribute to your company’s growth. Don’t be afraid to probe into their motivations for joining your organisation to ensure that they are looking for a long-term partnership and have a genuine interest in the company’s mission.
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Gather 360-degree references
Your reference checks should be thorough and include input from former superiors, peers, and subordinates. Ask about the candidate’s leadership style, reliability, strategic thinking, and any past challenges they faced, and make sure you conduct these checks with specific questions related to your company’s needs, as they can reveal patterns that weren’t apparent in interviews.
By focusing on these areas, you can make more informed decisions about executive candidates who have the skills, values and vision to contribute positively to your business.