In the real world, companies hire officers to fill specific roles. Below are the executives' roles that could be filled in Sim Companies and what their benefit would be:
Chief Operations Officer - A good COO brings down administrative costs by a percentage, decreasing the companies cost of production and retail.
Chief Financial Officer - A good CFO decreases accounting overhead. The threshold where accounting fees start to be applied is moved up.
Chief Marketing Officer - A good CMO decreases the selling time in retail which increases profit.
Chief Technical Officer - A good CTO increases the probability of research points being accepted as patents.
There are 4 skills: Management (COO), Accounting (CFO), Communication (CMO), and Science (CTO). Each candidate starts with the skills being fairly low, but as you train them and as they gain experience working at a specific role, the skills will improve. Executives working as "staff", not assinged to a specific role, are getting experience towards all 4 skills.
The rate of improvement is determined by their 4 talents (one talent for each skill). The talents are hidden, but can be observed indirectly by how quickly the skill raises. The talents do not change over time.
The employees at COO, CFO, CMO, and CTO positions are contributing to your company's performance as described earlier. Your COO's management skills contribute towards lower administration cost the most, however, the management skills of other 3 executives contributes slightly as well. Same goes for other 3 positions.
Executives can be hired as fresh candidates from a University. Or they can be poached from other companies using hiring agencies.
You can have your HR department look for fresh graduates, or you can use one of the 3 hiring agencies to help you get the right executive. The agencies will charge you fee if the executive decideds to work for you.
If you decide to use one of 3 hiring agencies you will be offered a candidate based on your requirements, either unemployed, or working for one of the other companies. Based on the information give you can decide to reject the candidate or proceed with the offer.
The information about a person who is not working for you yet is very limited. For students of University with no previous working experience - you will get a free text assessment from your HR department. For candidates with existing working experience (at other companies) you will see a brief info about their work experience and trainings.
You cannot give offers to executives of other companies directly. The experienced executives can be hired only using agencies. Once an offer is placed, the executive gets back to you with an answer in 24 hours. You need to pay $15,000 for all training the executive has received within the last 6 weeks. Trainings that were received before an executive was fired do not have to be paid for.
If your executive is given an offer, there are few scenarios:
How to make sure your executives do not leave? Make sure you pay them what they are worth. You can increase executives salary at any time.
You need to pay your executives daily. The salary is known when you are hiring. Other expenses you can have are: training ($10,000), severance package if you decide to dismiss your executive (3 days worth of salary). You may also need to make salary counter-offers if other company tries to poach your employees.
Your executives are being paid daily automatically. If there's no cash to cover the salaries, they will strike.
Executive employees would grow old and retire at some point. They grow older by 1 year every 2 days. The more they are earning, the higher chance they retire sooner. You will get a few days notice before the executive actually retire.
Make sure each executive you have is making your company more money than the daily salary you pay them. Alway be on a lookout for a good hire and HAVE FUN!
Do you have what it takes to build a successful company? Try Sim Companies business simulation game now!