My company is thinking about bringing in a new CMO and I've been told to look for an executive search firm to work with. I did some web searching but all the sites seem to be saying the same thing (and sometimes I just don't speak their language). Is it because they all pretty much offer the same value? I want to be very cautious about picking a company since it's a very big hiring decision. Is there any advice on what to look for in an executive search firm? How to read between the lines and figure out what they're really like?
I can make some referrals but there are a few things that will influence my recommendations. Where is this position located? What size (rev and employee #) is your company? What is your business industry? The typical cost of an executive search will range from 20%-30% of first year total comp.
Posted anonymously on May 4, 2010 - 1 Votes - Flag this post
We're a gourmet foods wholeseller located in San Antonio, TX with approximately 75 employees on staff. When you say "total comp" does that include the employee's benefits package? or just salary?
Posted anonymously on May 24, 2010 - 0 Votes - Flag this post
Total compensation would be total "cash" compensation. For example, base salary, targeted bonus and/or sales commissions.
Posted anonymously on May 25, 2010 - 0 Votes - Flag this post
I just read your post and am likely late with a response. Nevertheless, it's a great question and I'm particularly pleased with the way you mentioned it's a big hiring decision. For a CMO job, the recruiting firm must have experience that they can reference in the area of marketing in your industry. This decision will take more then web research and requires a conversation and getting to know each other better. In addition to references, test if the firm's representative seeking your position is senior enough to attract a top talent and if that representative is taking the time to understand your business and what you are trying to accomplish. Without that kind of inquisitiveness, it's likely the firm is merely peddling flesh and not taking this important task seriously enough. I'd also see if there is a way to include compensation based on 6-12 months post the hiring based on how the CMO impacts the job. Good luck
there was a blog yesterday about how social media is beneficial for business: http://blog.hrinsights.com/2010/06/17/social-media-love-it-or-leave-it-it-is-here-to-stay/ It reminded me of your question about finding a new CMO... you might try looking up your candidate's social media presence (especially since it's a marketing position) to make sure that they represent themselves and their opinions in a way that's consistent with how you'd like your own company to be represented. It will also give you a good idea of how fluent they are in these channels if you're hoping to break into the social media scene. Hope the search is going well!