Hiring your second-in-command (2iC) is a new beginning and can be risky without clear direction. This change is pivotal for you, your company…and the person about to fill the 2iC seat. As with a cross-country road trip, some preparation and directed attention will get you and your new leadership partner where you want to go.
The Need for a Second-in-Command
Every company leader reaches a time when they know they need to change something for themselves and their company. The following are signs that the change you need is hiring a 2iC.
- Your work is not focused on your passions. You are leading this company because you have a vision for it, but you might be tied up in other details. Consider hiring a second-in-command if you spend all your time communicating with employees about daily operations or troubleshooting logistical problems, rather than investing your energy into your company’s future.
- You are not reaching your company goals. Every company’s growth ebbs and flows in progress and speed. But if you’re stuck in an “ebb,” your employees may be more lax in their responsibilities, your logistics may be sloppy, and your growth may have slowed or stopped. A 2iC can drive your company to get out of a slump and reach your goals.
- Your work is taking over your life. You love your company, but you need balance. You may want to spend more time with your family or retire in the next few years. Maybe you have hit a breaking point where you are overwhelmed by all your responsibilities. Hire a second-in-command to rebalance your life.
The Role You Need Filled
Knowing why you need a second-in-command is a good start to filling the 2iC role. Outline what responsibilities and areas you want to focus on in your role and what responsibilities you will hand over to your 2iC.
Let’s say your health and wellness company is not reaching company goals. You have been unable to expand your services and products into new markets recently, since you are struggling to retain employees and improve morale. You need to divide the responsibilities into more manageable amounts.
How you do so depends on what is most important to you. Do you love sharing your products and services with the world? Consider delegating all responsibilities involving employee satisfaction, management structuring, hiring, and personnel policies to your second-in-command so you can focus on expansion and growth opportunities for your company. Or if you most enjoy working with the people in your company, divide the responsibilities so your second-in-command creates and spearheads proposals for expansion.
However you divide responsibilities, assign authority and purpose to you and your second-in-command. We know this can be painful. You care so deeply about your company that it can be hard to trust anyone else to take charge. Create the roles simultaneously, and specifically consider what you care most about. Then, delegate the rest to your second-in-command.
Make plans to check in regularly to keep your second-in-command accountable, but be willing to let go of some things. Your second-in-command may not do everything just the way you would do it, but that’s OK as long as they’re reaching the same general goal. No one thrives when they’re micromanaged, so give them room to lead.
The Value You Can Offer
Look for what value you can offer your second-in-command that will match the role you have created. Remember that you are creating a leadership team role that merits some significant benefits and authority. Cutting corners now will make it hard to attract and retain the talent you need in this all-important role.
Appropriate benefits for you 2iC go beyond a salary. You are investing in a new leader to help guide your company to new growth. Offer benefits that pay out when your new hire helps your company progress, like profit sharing, bonuses at specific milestones, and shares in the company.
Also, consider an appropriate title for your new leadership partner. In the example of a health and wellness company, a second-in-command who takes on employee satisfaction and hiring could be a Chief Human Resources Officer (CHRO) or General Manager (GM). Or if your 2iC takes over growth opportunities, they could be a Chief Marketing Officer (CMO) or a Chief Executive Officer (CEO). Consult with a C-level recruiter in health and wellness, or your company’s field, for meaningful titles and competitive offers.
You may even need to adjust your title to reflect the new division of responsibilities. Your new title will look different if you are hiring your 2iC to allow you to focus more on your passions than if you are hiring them to take over for you in retirement.
Examples of titles for you and your second-in-command are:
- President and CEO
- CEO and Chief Operations Officer (COO)
- President and C-level officer (COO, CHRO, CMO, etc.)
- President and Vice President
- CEO and C-level officer
- CEO and GM
- Partner and CEO
- CEO and Vice President
- Partner and President
- Chair and CEO
- Principal and President
The Person Behind the Candidate
When considering a candidate, look for more than the qualifications listed on a resume. You need a person you can work well with on a daily basis for years to come. Communication style, personality, leadership style, and values matter.
You might ask yourself the following questions about prospective hires:
- Do this person’s values align with your company’s values?
- Do you find the candidate’s communication style clear or confusing? Too assertive, too passive, or just right?
- Is their leadership style compatible with yours?
- Do they understand your meaning instinctively?
- Will they bring new life to your company?
- Do you like the candidate as a person?
Your second-in-command does not need to be your clone or a perfect match in all these areas, but they should bring out the best in you and your team.
Expert Advice
Even if you look for all the right things and prepare yourself and your company for a second-in-command, hiring at this level is high stakes. Many executive-level leaders leave a company after 18 months, which costs significant time and money. In fact, estimates show that it costs $1 million or more to replace a C-suite leader. Meanwhile, the balance you are looking for in your life, the passion you want to focus on in your work, or the progress you want to see in your company remain out of reach.
To make sure you get this placement right, look for an executive search firm for your 2iC. A good firm will help you address your needs and avoid disaster. Just make sure that the experts you consult will honor your needs, help showcase your value to prospective hires, and dig deep to help you discover the person behind the resume. The reward will be a fully aligned 2iC to help you fulfill your vision for your company.
