|
 The
Problem
Talented managers often make it to
the top, but some don't stay for long. In recent years, turnover
at the executive and CEO levels has soared.
Insight
This research project helps you to
gain insights into the shrinking tenure of executives and the
skills needed to succeed over the long haul in a senior-level
position. CEOs, operating officers, presidents, vice presidents,
directors and board-level professionals were surveyed to
identify key factors that impact executive churn.
Leaders at all
levels can learn from the mistakes and missteps of short-term
CEOs.
Six Attributes of Successful,
Long-term CEOs
1. Creating, Communicating and
Executing a
Clear Vision,
Goals and
Strategy. An executive's
success is affected by the ability to
communicate a vision for a
company's future, helping employees to navigate through change
and
motivating them to achieve specific goals.
2.
Delivering Results.
Today's businesses – especially those publicly held -emphasize
the bottom-line more than ever. Tolerance levels for poor
performance are dropping. There is little margin for error. That
makes the ability to produce results a very important factor
impacting tenure.
3. Acting with
Integrity.
Those who operate with integrity consistently adhere to a code
of conduct and have an underlying value system that is
manifested through their behavior.
4. Maintaining Key
Relationships. To have a long-term view you need to have
strong political ties, good shareholder relations and the skills
and knowledge to allow people to understand and buy into the
long-term view. A successful relationship with the board of
directors is of particular importance.
5. Exhibiting Appropriate
Leadership Style and
People Skills. A poor leadership style
and people skills ultimately have a negative impact on an
executive's tenure at their own firm. Some executives can
clearly get the job done quickly, but the 'dead bodies' left in
their wake can take years for the organization to recover.
6.
The Cultural Fit. A
candidate for a top job might look great on paper, but must be
culturally compatible in order to build relationships and add
true value. Often, hiring managers or boards emphasize the need
to challenge old thinking and move in new directions. But if an
executive is too far out of step with an organization, the
resulting culture clash can overwhelm the benefits.
Think Like a Long-term
CEO
CEOs that stay put and continue to
drive organizational success demonstrate their value in many
ways. You, too, can showcase your value by following these
strategies of long-term CEOs:
-
Focus on results. What
can you show that demonstrates tangible results and solid
success? Be able to offer strategies and recommendations for
improvement in areas outside your current scope, too.
-
Know what you stand for.
Get clear on the
values and beliefs that drive your
leadership style and your thinking. How have those factors
influenced your behavior as a leader?
-
Rally the troops. Given
the complexity of doing business on today's global playing
field, the ability to marshal focus around a clear vision is
critical. Can you successfully rally an organization around
a common cause?
-
Emphasize
relationships.
Make it a point to build and improve work relationships.
Gain skills that allow you to work well with all key
stakeholders.
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