Most Sought After Quality for Senior Executives: Years of Experience
What are the most important qualities for senior executives to possess to be effective managers? The Harvard Business Review surveyed executive search consultants to find out what their clients most commonly looked for in a good executive management candidate.
What Companies Look for in Sr. Execs
43% of executive search consultants surveyed in 2008 reported that their client companies considered the number of years of relevant work experience to be one of the top reasons for hiring a particular candidate, whereas only 24% gave similar weight to the ability to collaborate in teams — and an alarmingly small 11% factored in a candidate’s readiness to learn new things.
Source: Harvard Business Review, May 2009
According to Harvard’s study, companies did not think that ability to grow revenue, innovative thinking, or past accomplishments was the most important factor, but rather years of relevant experience.
Another survey by Harvard Business Review found that most candidates for executive positions were not very well vetted by the hiring company.
How Well Vetted Is Your Senior Management?
In 32% of 500 companies surveyed in 2008, candidates for senior executive positions went through only 1 to 5 interviews, while 12% of firms subjected candidates to 21 or more. Shockingly, only half of those recruited for the top three tiers of management were interviewed by anyone in the C-suite. And fully half the companies relied primarily on the hiring manager’s gut feel, selecting a candidate believed to have “what it took” to be successful in any job.
Source: Harvard Business Review, May 2009
Do you think experience should be the primary factor that companies look for when hiring an executive manager? Are companies not performing due diligence when hiring for important executive management positions? What should be the number one quality companies look for in executives?
