Tag: Culture

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Feedback from Over 200 CEO’s: What they Learnt in 2015 and the Challenges They Face in 2016

 

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Business change is constant and increasing at an alarming rate. We will face more change in the next 5-10 years than we have seen in the last 100.

In December 2015 I went out to a wide network of CEO’s and asked the same two questions I have asked in 2013 (Link to the 2013 results here) & 2014 (Link to the 2014 results here). The questions asked were;

  1. What were the biggest Leadership Lessons you learnt in 2015 (and/or leadership observations you have made)?
  2. What are the biggest challenges you feel you will face in 2016?

This survey also took in to account the responses from 104 New Zealand CEO’s conducted for The RESULTS Group by an independent research company (Per.ceptive Research).

It is fair to say that surveying over 200 CEO’s (in many varied industries) across New Zealand (mainly), Australia and the USA meant I received a huge amount of feedback. It was a challenge to consolidate this feedback, despite there being some clear common themes. Here are the results.

Question 1: What were the 3 biggest Leadership Lessons you learnt in 2015 (and/or leadership observations you have made)?

  1. “The importance of company culture and just how difficult it has been to lead both change and people (to change).” Change has been constant especially with technology disruption in many industries. Understanding what needs to change and then to actually get people try different things or new ways, new systems & processes has been really challenging.  The quality of people in the team, their skills and the ability to actually get things done has often been the main point of differentiation over competitors.
  2. “Establishing the Accountability within your people to get things done/to take action.” There has been more focus & need to have clear KPI’s and measurements in place so as to lift engagement and accountability within Companies. Taking action, executing and making things happen is increasingly important in an environment of constant change. To try new things, fail fast, adapt or simply just to do what has been agreed to is critical. The challenge of holding people to account, measuring and managing has increasingly been seen as vital in business in 2015.
  3. “Being able to change fast enough whilst keeping it simple.” It has been increasingly harder to keep things simple and to identify & focus on doing the important things. Saying “no” to opportunities, constantly trying to keep things from becoming extremely complex has been a real challenge in a world that tends to expect you to do more and more. “Busyness” is the new plaque and separating the important from the urgent has become ever harder to achieve.

Question 2: What are the three biggest Leadership Challenges you think you face will in 2016?

  1. “Remaining profitable through Growth.” We all know growth sucks cash and typically businesses are under capitalised. Often the main measure of Business success is profitability and it is widely felt it will be increasingly harder to deliver profits as change increases, profitability shrinks and as businesses grow.
  2. “Developing future leaders and motivating good people.” Succession is increasingly looming on many company radars. Developing future leaders to take the business forward, to be able to sell the business, to step up as current leaders step back are all challenges many see in 2016. Motivating and engaging good people to stay longer term & to set the business up for future success are skills CEO’s are seeking and actively looking to invest in.
  3. “The increasing pace of Change in the Market place & the ability to adapt.” It is perceived that there will be more change in 2016 & it is increasing. The ability to adapt to change, embrace new technology tools and compete is seen as becoming more of a challenge for CEO’s to remain profitable and to grow. Developing new products &/or services quickly enough to meet the market and client expectations are key challenges identified.

Every year in business is a different one that brings a mix of the ongoing leadership challenges along with many new ones. Certainly change is now a constant and that pace of change is really starting to pick up. The impact of new technologies in communication, automation, artificial intelligence, online applications and tools & social media are changing things fast. In fact much commentary is suggesting we will face more business change in the next 5-10 years than we have in the last 100.

One thing that does not, and will not change is fact that every Company (and indeed group of people) needs a leader. In fact research shows we all want to be led in some way, shape or form. The importance of a leader and his/her ability to inspire, coach, mentor & influence good people to get important things done in an environment (culture) they enjoy is often the main (sometimes the only) point of differentiation a company can have over competitors in increasingly crowded markets.

Strong leadership & excellent change leadership skills are increasingly the most important skills that will define a businesses chances of long term success. During 2015 our Executive Leadership Program has become the fastest growing part of our Business as we seek to support CEO’s to lead change, achieve sustainable growth and to support them to prepare for sale, economic downturn or industry disruption. More than ever high performance business leaders need & seek good practical smart advice, support, facilitated planning, time out and an unwavering positive outlook to navigate the challenges 2016 will bring.

What are you planning to intentionally do differently to lead Business Success in 2016?

  • You can link here to the CEO blog summary doc which shows the comparable results of all 3 surveys.

 

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Making High Performance Leaders Better

I do a lot of work with high performance leaders. In fact I have just completed a survey which I will share over the coming weeks about their key learnings over the last 12 months and what challenges they expect to face in the next 12 months to bring.

Executive leadership coaching is a growing part of my practise here in Christchurch that is growing by referral and it involves working with high performance, experienced individuals in key leadership roles who want to get better at their craft. This link (read here) explains why leaders need to be aware of their “blind spots” and how some good coaching can take them to a new level of influence over their teams and key people. Leadership at the senior level is about leading through others. In itself this involves coaching, mentoring, developing and getting key managers better at their game…..better a delivering results, better at leading their own parts of the business.

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I work with CEO’s in a number of ways. Firstly to help build their strategy and then to help roll it out across the company. Primarily this is about “Business Execution” or executing the strategy. This is a major challenge in amongst the chaos of “Business as Usual.  I now have a number of high performance CEO’s from prominent companies seeking what I term “professional development.” They work virtually or travel from around the country to invest in their own development. This involves working with them in a high trust relationship to get them better at their craft. It involves the following;

a. Being a sounding board. Leadership is a lonely space so having someone with no other motivation except to see them succeed is something that is of high value. Someone outside their organisation, outside their team and outside of the Board of Directors. I have some who simply want to spend time and talk through key decisions and to help them get clear on their thinking and why they think that way.

b. Challenging their Blind Spots. We all have them and this is an area I have worked hard on myself. Better self awareness, better situational awareness of those we lead, key strengths and how to play to them and how to build the skills in your team to cover weaknesses. Empathy for others and tools for getting the best out of people are generally at the top of the list of these important “soft skills”.

c. Building a Framework = Finding Time. Generally CEO’s are very time poor. Finding time for them is key as we challenge how they might structure their week, month & year. A good cadence of team and one on one meetings, time for strategy, review, lessons learnt and strategic thinking all form part of this along with the disciplines required to actually execute such a framework. One of the biggest things I find is that busy leaders do not take time off. They risk burn out, lack balance between work and family life and few give themselves the time to recharge. As a leader of a large organisation you are responsible for feeding a lot of families. You have an obligation to be at the top of your game so you can make the best decisions and deliver the best results. Time out is critical and the discipline to make it a priority is key.

d. Building on Strengths. The best return on investment is to play to and build on your strengths and to build a team around you to do the bits you are not so good at. I find many leaders who beat themselves up for the parts they struggle with and often they focus on these negative areas. Why focus on things you are not naturally good at and tend to loath doing?

e. Execution. Actually supporting leaders to do what they set out to do. Everyone needs accountability and in a space where performance is key everyone needs a push to get out of their comfort zone and to seek excellence. Real situations require practical solutions and one thing I really enjoy is working with leaders to actually do what they need to do.

f. Seeking Excellence. As in high performance sport any % gained is pure gold. It is easy to lift performance from say 65 – 85%. But every % over and above 85% (or however you like to think of it) takes conscious effort, focus, trial and error and execution with a focus on measuring progress. A leader is only as good at their last game so building on performance, banking lessons learnt and pushing outside comfort zones is key.

g. Providing the Right Network. I certainly do not claim to know what it is all about and I challenge anyone who can. Leadership is a journey (not an event) and having the right peer group, mentors, exposure to research, case studies, stories/examples, academic courses and others who are on the same journey is an absolutely critical part of developing talent and talented leaders. I see my role as providing the right things at the right time to build personal networks.

h. Leading in Change & Enabling Culture. The pace of change is fast and continuing to get faster. Technology, competitor moves, globalisation, client expectations, economic conditions have never involved so much change. How do CEO’s lead in times of constant change and how can they enable a culture that top talent wants to be & remain a part of? The culture of an organisation is a strategic advantage that no competitor can steal so enabling a culture of excellence, that is resilient to change, is innovative and close to the customers needs is critical to growing and leading a business.

Working with high performance leaders is one of the things I love about my role. It is satisfying, challenging and I learn a lot about leadership, different sectors and different companies. The common theme is that no one actually teaches you how to lead people & how to get the best out of them. It is not a University course or a seminar or an event. Everyone you meet can & should teach you something and without doubt it is one of life’s ultimate challenges.

Are you working with someone to help you get to the top of your leadership game?