Takeaways: Achieving the Best Hiring Outcomes through Talent Assessment

Here are Keith’s key takeaways from the panel for impactful assessment of CEO and CFO candidates:

• A proper assessment and search process will mean nothing if you don’t have a clear scorecard developed that defines competencies for the role. 

• There is no silver bullet test or technique that produces a predictive outcome to ensure the successful performance of an incoming executive.

• It’s critical to have a well-defined system and process with multiple touch points and different assessment approaches to ensure success.
• Leaders must know when to use which assessments and for what purpose, such as:
  • Use “lightweight” testing early in the search process focused on the cognitive skill and psychometric profile of candidates. This will ensure you develop insights into an individual’s strengths and weaknesses. That can then be probed more thoroughly during the complete interview process. 
  • Use a business case analysis for finalist CEO candidates so you can test modeling and analysis skills with real-world data. Additionally, the business case approach allows you to see how a CFO leads the room and problem-solves working with several key individuals on the team, so it helps to ensure culture and chemistry fit. 
  • Use a more predictive test like DHR’s Leader Lens™ based on the book “Executive Intelligence” written by Justin Menkes, Partner, Leadership Consulting. The tool delves deeper into the social, emotional, and cognitive intelligence that is so critical to ensuring success in the CEO role not only on day one but throughout their tenure in the seat.

Hunt Scanlon’s Private Equity Operating Partners Talent Forum and Talent Assessment Panel stressed the importance of having the right talent in place to build organizational value. By properly utilizing executive assessment, private equity operating partners can achieve optimal hiring outcomes, supporting a strong return on investment.

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