Accelerating c-suite transitions
Companies worldwide are investing an increased amount of time, energy and resources into the development of their c-suite. Due to the overarching impact that a c-suite of executives can have on a business, it is crucial for these individuals to have a deep understanding of business performance and have the skills to take this beyond their competitor’s capabilities.
The hiring of a c-suite executive should never be taken lightly and should always be considered in terms of the value they will deliver and the potential opportunities that this person can bring to the business. Even once the ideal candidate has been hired or promoted from within, there must be a comprehensive transition period, which should be closely monitored to ensure that the individual is not just left to sink or swim on their own.
Where a new leader is introduced, they are often failed by the business in that they have little clarity for what success looks like and how their role is perceived by peers, employees and their team.
Expectations will rarely be met within the business if new leaders are not equipped with the right information. This includes ensuring they are setting their own objectives, business objectives are clearly established and there is communication between senior managers in order to articulate visions and strategy aspiration and how this fits into wider business goals.
Causes of faltered leadership
Lack of an effective onboarding process can present new c-suite members with a number of problems which typically fall into four key areas; derailment due to culture, failure to establish strong relationships in order to influence issues, the wider team lacking focus and skills and development gaps.
A cultural fit is crucial for any individual to successfully assimilate into their workplace environment. However, many leaders struggle with their initial transition due to the misreading of cultural cues or misjudging the efforts and capabilities of teams and individuals. By bringing in someone who is not culturally a good fit for the business, this can ultimately affect the individual and the wider teams. Culture may also differ within different areas of the company as a whole and the management culture. This can cause a disconnect between how those who are promoted understand the mechanisms of the business moving into a higher position compared with their previous experiences at a lower level.
Strong relationships form bonds with other managers and employees. This, in turn, builds the capability to have more influence over the business and activities. Good relationships also allow for better motivation for staff and the opportunities to ensure an improved standard of working for staff. Where staff feel comfortable with managers and respect them, they are much more likely to openly discuss any problems and consequently solve problems more quickly.
Teams which lack focus are often unsuccessful in achieving their goals, both in personal development and business objectives. New c-suite leaders should look to find effective ways of bringing their teams together in order to align efforts and ensure that relationships are established and styles are aligned.
Finally, gaps in development can reduce the effectiveness of teams and make it more complicated for a new c-suite executive to manage them. Both team and leader may need to look at their skill set and capabilities and identify gaps in knowledge that could be detrimental to the overall success of the team. It is crucial for the management to drive these development needs in order to ensure all sectors of the business are performing to their highest capability and encourage self-awareness in line with personal knowledge gaps and skill shortages.
At G&E Partners, we aim to provide our clients with the best talent available in their industry, get in touch today to find out how we can improve your talent management strategy.