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Nov 24
CEO

What Sets the Best CEOs Apart from Others

By Leadership

As the leader in any organization, the Chief Executive Officer holds an exceptionally visible position of power and influence.

The CEO’s job includes setting the mission, visions, and goals, motivating the executive team, collaborating with stakeholders, representing the company and its values, and developing a solid work-life balance.

How does a board find someone who can execute these tasks flawlessly?

As it turns out, the board can’t because perfection doesn’t exist. It isn’t even preferable. Instead, hiring boards should consider these five characteristics.

  1. Education and Experience

Many boards tend to seek out leaders with degrees from prestigious universities. There is little correlation between the stamp on a sheepskin and the recipient’s ability to lead an organization.

What does matter, however, is the CEO’s willingness to learn and apply their knowledge and previous skills to help to make decisions.

  1. Personal Characteristics

Many people identify extroverts as the best CEOs because they are charismatic leaders. In reality, introverts perform better in this role, quickly meeting or exceeding their goals.

While confidence may land a candidate a CEO position, it does not affect job performance.

CEOs are willing to confront others when necessary. They don’t hide from challenges; they meet them head-on. Those who excel in their roles focus on meeting their goals – and winning.

  1. Best CEO Decision-Making Habits

CEOs who can strategize and make decisions quickly excel over those who do not. 

The reason is simple: executive-level leadership requires decisiveness. CEOs must make decisions confidently, even when there’s little time to respond to developing situations. Making a mistake is preferable to making no decision at all.

Those surrounding the CEO prefer consistent and immediate decision-making to uncertain delays.

  1. Getting Buy-In from Others

Those in the top position in a company seek feedback and gather diverse viewpoints. These viewpoints may shape the CEO’s decision, but the decision is based on facts rather than popular opinion.

Top CEOs prefer to hire people with the skills they may be lacking; these employees often become trusted advisors.

  1. Strategy-Building Skills

Not everyone can see the big picture, but that’s what the CEO does. This role requires eagle-eye acuity for envisioning how all the parts work together. Those who work with CEOs often describe them as:

  • proactive proponents of change for the right reasons
  • committed to thinking long-term
  • trustworthy individuals who follow-through
  • positive and predictable
  • makers of bold moves

Not everyone has the skills and mindset to be a CEO. To be the best at the top position in any company requires a unique set of characteristics. As it turns out, no one thing defines a successful CEO. The most successful, and ultimately the best CEOs, are a combination of everything.

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Nov 17
Corporate Woman

More Women Left Corporate Jobs During the Pandemic

By Leadership

The pandemic has completely transformed perspectives about work, especially for women. In the 18 months since COVID-19 appeared, more than half of working women are less optimistic about their job opportunities than they were before a novel virus took the world by storm.

For women in corporate jobs, the future appears even bleaker.

How the Pandemic Exacerbated Conditions

During the pandemic, many women who had corporate jobs reverted to traditional roles.

They found themselves in the position of being the caretaker for everyone around them. These women provided emotional support and encouragement for their employees on their teams.

During the lockdown periods, these same women were also the support system at home, assisting their children with virtual learning, checking on relatives, and holding the family together. Women traded their career aspirations and took on greater domestic responsibility.

As a result, the women burned out quickly.

Difficulties Women Face in Corporate Jobs

Landing a job in corporate America isn’t easy as a woman. It’s even more difficult as a woman of color or LGBTQIA.

Many corporate women have experienced the broken rung syndrome: making their way up the corporate ladder is nearly impossible because the first step in moving up is often disconnected. It’s so shattered that getting to the second rung is a tremendous hurdle.

Corporate roles require considerable face time when managing or leading teams of employees. During the pandemic, women:

  • experienced higher stress levels than men (74% compared to 61%)
  • burned out quicker than men in similar jobs
  • earned less than men for the same job
  • left the corporate workforce at a rate of 3:1 compared to their male counterparts

Women gave up the positions they worked for on the ladder. In doing so, they also may have given up their opportunity for further advancement.

Changing the Outcome

The good news is that the future doesn’t have to be bleak.

Companies can – and should – encourage women to return to their places in corporate positions. These five steps can help women step up over that first broken rung of the corporate ladder and on to richly satisfying careers.

  1. Offer greater flexibility 

Allow employees to take time off when needed. Some companies have experimented with unlimited paid leave. If that’s too big of a leap, try a smaller commitment of a few days at a time.

  1. Align accountability with financial incentives 

Too often, performance metrics don’t match up. Reward results rather than time spent in the building.

  1. Consider diversity when hiring 

More than numbers, diversity thrives when people of different backgrounds, races, and experiences work together.

  1. Eliminate bias and identify promotion trends

Make sure equitable performance reviews identify accomplishments and any need for professional growth accurately.

  1. Listen when women speak

Women in corporate jobs find that their ideas and contributions are often suppressed.

With your help, the women who shouldered the burden of the pandemic will be back, stronger and better equipped to lead companies forward.

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Nov 10
Woman CEO

More Women Running Fortune 500 Companies Now Than Ever

By Leadership

The climate change happening in the business world, albeit a slow progression, sees steady growth in acceptance of women running Fortune 500 companies. The companies that have taken the step to hire women CEOs have made interesting discoveries. Some women carry specific traits that help them not only land these top positions but thrive in them.

According to Fortune, women running Fortune 500 businesses in 2021 hit an all-time record high of 41, two of which are black women – another first.

Given women’s history in business, these records are worth celebrating, and Korn Ferry states that the celebration will continue with foundations like The Rockefeller Foundation starting initiatives like the “100×25” initiative. An initiative to hire 100 Fortune 500 women CEOs by 2025.

So what is it that helps women stand out as leaders that can profoundly change organizations for the better?

3 Traits Women Running Fortune 500 Companies All Possess

According to Forbes, McKinsey published research titled “Women Matter,” with proof of how differently women CEOs run things. The main finding suggests that women leaders implement at least five of the nine most important leadership behaviors to improve organizational performance, whereas men tend to lack in this area.

The five behaviors most commonly referred to by women include:

  • People Development: Teaching, mentoring, and listening to individual needs as a top priority.
  • Expectations and Rewards: Clearly defining expectations and rewarding when targets are met.
  • Role Model: Focusing on building respect and being a role model for the company.
  • Inspiration: Presenting a compelling vision of the future that inspires workers to implement the changes necessary to get there.
  • Participative Decision-Making: A team atmosphere where everyone is encouraged to participate in decision-making.

Aside from these behaviors, there are 3 personality traits that women CEOs possess as well:

  1. They are driven and committed to the success

It takes women an average of four more years than men to make it into leadership positions. During this time, women spend their careers in a number of different roles, companies, and industries. By the time they make it to the CEO, they are ready to commit to the company and apply their wealth of experience.

  1. They are devoted to positive workplace culture

In Korn Ferry’s study, 25% of women were proud of the positive culture they created in their companies. Women understand that for the company to succeed, it starts with the workers, and workplace culture is one of the main things that can make or break a company.

  1. Most have STEM or substantial financial backgrounds

Nearly 60% of all women in business have a definable background in STEM, business, finance, or economics, as posted by Korn Ferry. This type of knowledge serves as a catalyst for success, whether male or female.

Still, women know they have to work harder and prove themselves more than men do. This is a tide that is beginning to shift but still exists, nonetheless.

Women make it abundantly clear how beneficial it is to start from the bottom and climb your way to the top. Most women are forced to start in lower positions than men, but it only proves to help them succeed later on when finally promoted to CEO. Women continue to prove how resilient, courageous, and agile they are in business. They have the ability to revolutionize the modern-day workforce.

Every company that hires a woman CEO brings that reality into fruition.

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Nov 03
Empathetic Leaders

Consumer-Facing Companies Need Empathetic Leaders

By Leadership

There’s no question that Covid-19 forced fundamental changes to the way we run as a society. After nearly two years, some of these changes will likely be permanent. One fundamental change businesses are making is how they relate to their customers. Rather than customer engagement and convenience being the main focus, it’s now shifting to essential needs, like safety and security.

According to Forbes, displaying this level of acknowledgment to customers makes them feel like the company is concerned about them and looking for tangible solutions to their current problems. If this sort of empathy is to be extended to the customer, it first starts within.

How does a company become more empathetic as a whole? It starts with leadership. Empathetic leaders give the workers a role model for empathy that turns into an entire company exuding the emotion. 

Chief Experience Officers (CXO) Are the Empathetic Leaders You Need

Rather than the entire C-Suite focusing on finances and numbers, having someone in the room advocating for the customer at the turn of every major business decision is the best way to close the customer experience gap and keep it closed.

CXOs not only look at every step of the customer experience to ensure every touchpoint is dedicated to the customer’s needs, but they serve as that empathetic advocate for the rest of the company. They can effectively inspire the company to want to focus on the customer and each department delivering their “line of sight” in full dedication to the customer experience.

Allowing the CXO to inspire and mentor the company to deliver that customer-focused line of sight will build a genuine, empathetic framework that vibrates throughout the company. 

Different Ways Customer-Facing Companies Can Empathize During the Pandemic

Customers are humans first, who may have had trouble paying their bills and meeting necessities since the onset of the pandemic.

How does a business empathize with this while still making money?

Here are a few key ideas:

  • Rather than focusing on upselling, showcase how you can provide them with the essentials they need, including safety and security. Customers are likely to upsell on their own if you appeal to these needs.
  • Remain at the forefront of their hearts while implementing contactless business.
  • Rebranding certain products to tailor to customer needs.
  • Be a light in your customers’ day at a time when depression and anxiety are on the rise.
  • Focus on your web presence as this is the epicenter for customer experience right now.

There is something to be said for empathetic business. Empathy has always been a keynote in the customer experience but is now more than ever. Customers crave that security and trust in a brand. In order to create such a framework, empathy has to be encoded in the DNA of the company. Finding an empathetic leader that inspires the company to focus on empathy for the customer above all else is the core that will set you apart.

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Oct 27
C-Suite Skills

Necessary C-Suite Skills

By Leadership

Each position in a business organization requires some skills and technical expertise. The skills and knowledge you have determine how you can optimize the company’s resources to produce desired results.

When you work together with your business team, your skills determine how you complete the task assigned to you.

However, the most crucial role in any company, which requires maximum skills and a high standard of professionalism, is the C-suite position. As a unique position in any company, it requires having extraordinary skills to be successful in this role.

What are the skills you need to have as a C-suite official?

Good Leadership Skills

The over-arching set of skills necessary for a C-suite official is leadership skills. Some employees leave companies because of the poor leadership skills of their managers. Through strong leadership, you can manage and control your team to reach the company’s target.

As a C-suite official, your leadership traits open your eyes to how you can lead your team and motivate them to work towards the company goals and objectives.

Taking Responsibility 

As the higher executive official in a company, your leadership role comes with numerous responsibilities. Your position is one of the major forces that drive the company to success. Your responsibilities include setting reasonable standards for a company, making decisions, enforcing discipline, and ensuring that your team members work towards the company’s goals.

As a C-suite official and leader, you must be ready to fulfill these responsibilities and others assigned to you for your company’s success.

Delegation

A large organization with a C-suite executive is not a one-way business. You can’t be a master of all trades because of the demanding responsibilities of your position. Hence, learn the art of delegation.

When you delegate tasks, ensure that those given the job work with the schedules and oversee their work to know if they implement your instructions or policies.

Instructions must be well communicated when you are delegating tasks. Besides education, give deadlines so that they can learn how to be time conscious.

Above all, delegation does not mean you should offload all tasks on your employees. The benefit of commission is for efficiency and not offloading tasks.

Decision Making

As the top official, you need to know how to make good decisions. The decisions you make determine the level of success of your team.

Being the leader in an organization, you need to know how you can make quick decisions as a problem-solving strategy in protecting the image of the company or from running into a loss.

Communication Skills

Another C-suite skill is good communication skills because you are working with a team. As a leader, it’s part of your responsibilities to communicate the company goals and policies to the employees. Your communication skills should also include various measures of persuasion and motivation.

The C-suite position is an influential and challenging position in any company. If you imbibe the leadership skills and other essential skills in this article, you will be equipped with the abilities needed to succeed in the top C-level in your company.

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