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This may be because boards don’t perceive insider candidates to be of suitable quality or because of the perception that outsider candidates can strike a fresh start — or some combination of both.
An often overlooked consequence of hiring an outsider candidate is that it can be demoralizing to staff, who can begin to feel that there is no career advancement available to them. “I have spent 15 years building experience in this sector, and now I feel like all that is worth less than if I decided to parachute in from a for-profit company,” one interviewee for the CEO Search Committee Guide said.
Learn more in the CEO Search Committee Guide.
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