Hiring and Assessing CEOs
Boards typically conduct three assessments on a regular basis: a self-assessment, an assessment of the CEO, and an assessment of the overall performance and financial health of the organization. The Chief Executive assessment should take place annually and be based heavily on job description and agreed-upon goals. Frequently, the assessment is tied to salary increases, though the conversations about the two should take place separately. The evaluation of the organization as a whole typically takes place through regular review of financial statements and succinct, regular reports from staff members.
Hiring the CEO is an important job of the board. The board creates a selection committee comprised of current and past board members as well as key community members. Some chambers have the financial resources to engage a professional search firm to assist them in this process, whereas others choose to conduct the search on their own. For those chambers not using a search firm, is a great resource to walk the board and selection committee through the search and hiring process.
CEO or Executive Director: Does the Title Matter?
See CEO Position Description Samples
See CEO Performance Evaluation Samples
See CEO Bonus & Incentive Samples
Articles, Blogs & Guides
- Associations Now
- Harvard Law School Forum on Corporate Governance and Financial Regulation - The Effective Chair-CEO Relationship: Insights from the Boardroom (Mar 2011)
- Kentucky Chamber of Commerce Executives - The Professionalism of Chamber of Commerce Staff, by Ali Crain, MS, CCE, IOM, KyACE, Executive Director (July 2015)
- LinkedIn - How Boards Interview CEO Candidates, by James Citrin (Jan 2016)
- MassNonProfit.org - Getting Your Board Chair and CEO to Work Well Together
- Nonprofit Center
- Sobel & Co. - Determining Fair Compensation for Your Executive Director: What a Nonprofit Needs to Know - by Bridget Hartnett, CPA, PSA, and Ron Matan, CPA, CGMA, PSA (Winter 2014)
Related Chamberpedia Topics
| Governance and Leadership
| Hiring and Assessing CEOsLast Updated: 10/29/2018