Hiring the right product leader is crucial for a company’s success so it's no surprise that many CEOs and boards rely on executive search firms and/or internal executive recruiters to find the perfect fit.
However, even experienced recruiters can fall into common traps that can result in bad hires, especially when they do not come from product or engineering backgrounds themselves. By understanding these pitfalls and finding the right partner for your search, you can avoid these mistakes and hire a product leader who will truly shine. Here are the top mistakes and how to avoid them.
1. Getting Hung Up on Team Size
Recruiters often search for executives who have managed the largest teams at the biggest companies as a proxy for success. While these leaders may indeed be amazing executives, it is important to look beyond team size and dig deep into what the company actually achieved from a product perspective during their tenure.
Example: Imagine hiring a product leader who managed a team of 200 at a large legacy software company. Upon digging deeper, it becomes clear that the team was largely focused on maintenance work rather than innovation. As a result, the new hire struggles to drive the kind of product innovation needed at a more nimble, high-growth organization.
2. Getting Caught Up on Brand Names
Certain brand names carry cachet, and executive recruiters are always eager to bring candidates with these logos to the table. However, not all Google alums, for example, are equally skilled. There is a gaping difference between early Google product managers and talent hired in recent years. The same holds true for almost all shiny brand-name companies. It is vital to look beyond the brand name and evaluate the company’s stage and growth during the executive’s tenure. Specifically, what innovations were made in the product? Were any successful new products launched?
Example: Consider a scenario where a product leader from a well-known brand is hired, assuming their experience at a prestigious company will translate to success. However, the success of the candidate in their previous role was based on preexisting product market fit and momentum relied heavily on existing reputation rather than driving new product development. In other words, they could have done almost nothing and still had a similar degree of success.
3. Lack of Industry-Specific Knowledge
While some product management skills are transferable, understanding the nuances of a specific industry can be crucial for a product leader. Recruiters who lack industry-specific knowledge might not fully appreciate the importance of certain experiences or skills.
Example: Imagine hiring a product leader with extensive experience in developing SaaS products for the marketing sector to lead a SaaS product in the cybersecurity space. Despite their success in marketing tech, the new hire struggles with the unique technical requirements of cybersecurity, such as implementing robust encryption protocols, ensuring compliance with stringent security regulations, and developing features that proactively detect and mitigate threats. This lack of industry-specific technical expertise leads to vulnerabilities in the product and delays in achieving necessary security certifications, ultimately compromising the product’s reliability and market trust.
4. Overemphasis on Technical Skills
Recruiters often compensate for their own lack of in-depth understanding by over-indexing on technical expertise. While technical skills are important, product leadership requires a balanced mix of technical knowledge, business acumen, and soft skills. Focusing too much on technical expertise can lead to hiring someone who lacks the vision or leadership qualities necessary for the role.
Example: Consider a scenario where a recruiter hires a product leader with track record of successfully launching deeply technical products. This leader excels in technical problem-solving but has limited experience in market analysis, customer engagement, and strategic planning. As a result, the product team becomes highly efficient at building technically robust features, but these features fail to resonate with users or address market needs. The lack of a balanced skill set leads to a technically sound product that struggles to gain traction and achieve commercial success.
5. Generic Competency Models
Executive recruiters often rely on leadership competency models that emphasize generic skills and abstract traits, which may not always align with the specific needs of the role. It’s important for your recruiting partner to deeply understand the goals and strategic priorities for the product function and the company more broadly. That understanding, coupled with deep recruiting experience, can help them paint a picture of exactly the right combination of skills that will position a candidate and the company for success.
Example: Imagine a recruiter using a generic competency model to hire a product leader, focusing on broad traits like “leadership” and “communication.” However, the specific needs of the role require expertise in launching new products in a fast-paced startup environment. The new hire, while strong in general leadership and communication, lacks the specific skills needed to navigate rapid iterations in product development. This misalignment leads to frustration within the team and missed opportunities for innovation and growth.
6. Focusing Too Much on Past Success Over Intrinsic Skills and Strengths
While past success is a good indicator, it’s important to consider the context in which it was achieved. A candidate’s success in a different environment or with a different team doesn’t guarantee they will replicate that success in a new setting.
Example: Imagine hiring a product leader who quickly rose through the ranks at a startup, demonstrating remarkable agility and innovation. However, when they transition to a large corporation, they struggle with the slower decision-making processes and the need to navigate complex organizational structures. Their previous success in a fast-paced, flexible environment doesn’t translate well to the more rigid and hierarchical setting of a large company. This mismatch highlights the importance of evaluating a candidate’s intrinsic skills and adaptability to different environments, rather than relying solely on their past achievements.
7. Inadequate Assessment of Strategic Thinking
Product leaders need to think strategically and have a long-term vision. Recruiters sometimes fail to adequately assess a candidate’s ability to think beyond immediate tasks and plan for future growth.
Example: Imagine hiring a product leader who excels at short-term project execution, consistently delivering on immediate goals and deadlines. Initially, this seems like a great fit, as the team quickly sees improvements in efficiency and productivity. However, as time goes on, it becomes clear that the leader lacks a cohesive long-term vision for the product. They focus on incremental improvements rather than transformative changes, missing opportunities to innovate and stay ahead of competitors.
Conclusion
By being aware of these common pitfalls, executive recruiters can improve their hiring processes and make better decisions when selecting product leaders. Avoiding these mistakes requires a balanced approach that considers technical skills, cultural fit, soft skills, industry knowledge, and strategic thinking. Involving key stakeholders, thoroughly checking references, and understanding the specific needs of the role are also crucial steps. By taking the time to get it right, recruiters can help ensure that the product leaders they hire will drive success and innovation within their organizations.
