How to Close an Executive Level Candidate: Everything You Need to Know
Closing an executive-level candidate is a rigorous process that requires ongoing diligence. As an Executive Recruiter, I’m fortunate to work with some of the most innovative, transformational companies helping to find and close the most sought-after Engineering and Product leaders. How do I do it? Here are 14 steps you can take to ensure you close the candidate you want to hire.
- Sell Candidates Throughout the Entire Process
Closing candidates is a sales process. It’s important to start selling from day one, beginning with your first point of contact, throughout each interview stage, at offer, acceptance, up until their start date. You’re not done yet! Successful onboarding is critical to getting a candidate off to a great start, so keep your foot on the gas during their first few months.
2. Master the Art of Selling While Screening
Master the art of gathering information while selling, allowing your conversation to flow naturally. Use their responses to your questions to sell the position back to them. Why is this opportunity specifically great for them? Interviews are an opportunity to showcase the advantages of your company and team in a personalized way while learning more about the candidate. Remember, they are also interviewing you.
3. Give Positive Feedback
No one wants to be the first one to say ‘I love you’, but making a candidate feel wanted goes a long way in generating excitement, even if you aren’t sure yet if you’ll hire them. If you see potential, be sincere, tell the candidate what you like about their background. If they did great on an interview, show them some love!
4. Maintain Momentum
Always have the next steps ready for the candidate. Have a touchpoint within 24 hours after each meeting. Time can be a deal killer; therefore, be sure to manage momentum.
5. Get to Know the Real Person
Form a personal connection early on in the process to build trust, allowing you to learn what truly matters to the candidate. Come to the interview prepared, enthusiastic, and authentically curious about their life. By doing this, you create a safe space for a candidate to show up as their whole selves during the interview process. Try asking questions like:
- What are you motivated by at this point in your career?
- What values are most important to you at work?
- What gets you excited to get out of bed in the morning?
- What do you do when you’re not working?
Keep your radar up for the mention of essential people in their life. Don’t underestimate the power of a significant other! If they’re an integral part of the candidate’s life, find a way to include them in the process. Invite them to dinner (or a virtual coffee chat) or send their partner some swag.
6. Be Transparent
Be transparent about your interview process, business model, revenue, funding, YOY growth, goals you’ve attained, and goals you did not. Share your mistakes and what you’ve learned from them. Self-awareness demonstrates vulnerability and humility, which builds trust. Be open about the risks and challenges your business faces and how you can overcome them together.
7. Are They Closable?
Understand how the candidate is feeling at each stage of the process and what they need from you. Do they need more time or more information? Ask the candidate at different stages of the interview process, what about this opportunity they’re most excited about? What are their concerns? What would prevent them from moving forward? You’ll want to understand their timeline for making a decision, so there are no surprises.
8. Get a Feel for Compensation
While you can’t ask for salary history, you can learn what’s important to them as soon as they’re interested, and you’ve built rapport. You may discover the candidate is optimizing for equity and is open to a lower base salary. Give them a sense of the comp range you’re targeting and see how they react. This conversation should happen before you’re ready to make an offer, allowing time to create alignment.
9. Open the Books
Explain how your company is valued. Share the story of how you’ve reached this point, your business goals, and how they can help increase the value of the company. Explain the value of your equity today and what factors can impact it. As you get closer to making an offer, you may want to provide an equity calculator and projection for them to understand the equity story. Have them speak with your CFO if necessary to provide a narrative. Don’t assume they understand your company’s cap table as well as you do.
10. Leverage Your Board
Executive candidates appreciate when an investing board member is involved in the process. Candidates value building this relationship early on. It shows the significance of the hire you’re making and allows the candidate to receive a different perspective. Prep board members by sharing what you like about the candidates and where you’d like their help. Even if you’re not sure yet if you’ll be making an offer, ask your board member to help sell this opportunity, getting the candidate as excited as possible.
11. Get the Most Out of References
Once the candidate is 75% of the way through the process, ask for references. Don’t use references as a formality at the end of the process, and don’t overestimate your ability to base your hiring decision on how well they interviewed. Instead, use references to learn more about the candidate while still forming your opinion. This should be done in addition to confidential backchannel references.
The hidden agenda in a reference check is to sell the reference on your opportunity and why you think the candidate may be a great fit. This way, if pitched well, your reference will call the candidate and say, “Wow, that sounds like an amazing opportunity for you!”
12. Make Sure They’re Ready to Accept an Offer
Make them want the job so much that by the time you are ready to make an offer, the candidate should tell you they want the job. You should have confidence when making an offer that the candidate will accept. Once you’ve answered all their questions and concerns and they tell you they’re excited to join, then you’re ready to make an offer. If possible, make the offer in person, then follow up with the written offer letter.
13. Keep in Touch While Closing
You should hear a verbal yes within 48 hours and receive written acceptance within five business days (unless you’re still negotiating). During this period, have board members and key stakeholders congratulate the candidate on receiving the offer and extend enthusiasm for them to join the team. Send the candidate a gift with a note, “You’ll be a great addition to the team, congrats on the offer!” Ensure a daily touchpoint until you have their acceptance.
14. Stay in Touch After Acceptance
Stay engaged! While you want to respect their time between jobs, create a few touchpoints before they start, such as inviting them to a company happy hour or event. Keep the connection and enthusiasm going until their first day, and even more vital during their first 90 days of onboarding.
Closing an Executive must be done with intention every step of the process creating an authentic connection along the way, so don’t wait till the end to close. Begin your process with the end goal in mind.
