Interview Questions You Would Ask in Looking to Hire a Chief Executive Officer
Hiring a chief executive officer (CEO) for a company might seem like a daunting task. Before interviewing qualified applicants, a detailed analysis of job duties must be performed and the essential knowledge, skills and abilities (KSAs) for the position must be identified. The search committee screens prospective candidates, and the board of directors interviews those who have been recommended after their education and experience have been verified. It is up to the board members to ask the questions that will help them determine who the best leader for the company will be.
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What Do You Find to Be Most Challenging About Leading and Motivating Management?
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One responsibility for the position of CEO is to ensure that top managers are meeting their departmental goals. To do this, they will need guidance and support from the CEO. If the person occupying this position knows how to motivate others, this will show in the success of previous jobs held. The candidate should be able to discuss experiences and provide documentation that show an increase in company profit and satisfaction of subordinates in the prior position held.
How Would You Implement Budget Cuts?
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Sometimes the CEO must deal with unpleasant situations. One of them is the reduction of staff, products or services. Implementing budget cuts is a complicated and politically sensitive issue. In some companies, a downturn in profits becomes public knowledge through media reports, which in turn can impact stock performance. A qualified candidate will discuss and prove experience in developing fair and equitable company layoff policies resulting in few complaints and lawsuits. The candidate should explain the communication policy implemented during the entire process of budget cuts and staff reduction.
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What Is Your Approach to Rolling Out a New Product?
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Although a CEO might not be directly involved with product development, all aspects of a new product need to be approved at that level. The CEO must ensure that market research has been performed, finances and budgeting are in place and advertising is being developed. Prior to a new product's debut, the CEO's position is critical in creating buzz and personally promoting the item. The candidate should display the ability and experience to articulate the benefits of a new product and the belief that it will help or change the lives of those you buy it.
Faced With an Underperforming Division, How Would You Turn It Around?
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A new CEO might inherit an underperforming division or department. The board of directors will be keenly interested in the process that the new hire would take in changing the direction of staff. A qualified candidate will answer this question by explaining that employee performance reports for the entire company should be made up-to-date. Those appraisals for the division facing challenges will be reviewed closely, and all less than satisfactory personnel, including management, will be held responsible for performance improvements by a certain date. The company will provide support and training, as needed. The employees who do not improve by the next review date will be disciplined or terminated to staff the department with qualified and motivated personnel.
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References
- Free Management Library: Sample Job Description for Position of Chief Executive Officer
- Iowa Hospital Association: CEO Interview Guide
- docstoc: CEO Job Description
- Centers for Disease Control and Prevention: The Importance of KSA's (Knowledge, Skills and Abilities) in the Federal Application Process
- HR Village: CEO/President
