Given trends in C-suite retirement, burnout and attrition (and presented with changing markets in talent, technology and supply chain), executive succession planning is the most relevant it has ever been. The pace of disruption across industries is unrelenting and continuous adaptation is paramount. Our environment demands executive leaders who can deftly navigate complexity and competition and guide their organizations into the future.
Many companies are calling upon professional services firms to assist their efforts in establishing the necessary leadership requirements for their unique strategic goals. At one such firm, Vantage Leadership Consulting, we’ve gathered success profile data across clients and have found some consistent themes —no matter the industry — about what is needed need from tomorrow’s executives.
Strategically Drive Sustainable Growth
The leadership capability our clients say is most crucial to their future is a forward-looking, strategic focus on sustainable profit growth and operational improvement. Individuals at the forefront of strategic decisions must maintain a growth mindset and commitment to ongoing learning to pioneer innovation and evolve business models ahead of market shifts.
Leaders who leverage their diversity of experience, business acumen and technical expertise position themselves to identify emerging growth opportunities. They balance their big-picture perspective with a deep understanding of ground-floor operations to detect patterns that reveal potential opportunities for growth. By cultivating entrepreneurial curiosity, demonstrating resilience when operating in ambiguity, and maintaining an unwavering drive for continuous improvement, they can incrementally transform organizational strategies, processes and systems to align with changing customer needs.
Lead Dynamic Organizational Change
Speaking of transformation, C-suite executives have the daunting task of implementing organizational transformation to meet the requirements of a complex economic landscape and dynamic workforce. Navigating continuous change and constant disruption calls for agile leadership. Businesses are looking for executives with emotional maturity and poise under pressure to inspire confidence in uncertain times. They have levelheadedness and determination to course-correct and set new strategic priorities as the competitive market shifts.
Those who emulate courage, promote a “fail-fast-and-recover” mindset and empower employees through change can mobilize their organizations to adapt. These leaders need to expertly communicate the “why” and provide broad forums for idea generation, knowledge sharing and learning to get successful commitment for change initiatives.
Foster Relationships with Trust and Collaboration
The most sought-after executive leaders build relationships through meaningful connections. This is what maintains a collective drive toward business goals. They establish trust and goodwill at every organizational level through transparent communication, inclusive collaboration and genuine care for their teams. Demonstrating emotional intelligence and compassion enables them to communicate authentically and influence broad audiences throughout their organizations. They nurture relationships with peers by considering diverse viewpoints, practicing active listening and facilitating constructive debate to build alignment and cascade commitment to the strategic vision. Finally, proactively engaging with stakeholders and customers allows executive leaders to keep a pulse on how their business is meeting client needs and enrich their company’s reputation and legacy.
Develop a Competitive Talent Pipeline
Effective executive leaders make talent development a strategic priority and maintain focus on future succession requirements. They understand the complementary skills needed across their teams and put the right people in relevant roles to succeed. To engage and develop emerging leaders, they invest substantial time coaching: They set stretch goals, equip others with the resources needed to overcome challenges and give timely feedback.
By celebrating wins and empowering accountability with support, executive leaders can enrich a high-performing culture and retain standout talent. They understand that developing exceptional teams positions their companies to stay competitive, both to customers and as an employer to new, attractive talent.
Champion a Culture of Shared Purpose
Finally, mission-driven executives who lead with integrity build united cultures. Embodying company values in their words and actions builds credibility. Leaders at the top of the organization cast long shadows — whether they want to or not. All levels of the business have their eyes on the C-suite; their perceived consistency in actions makes or breaks others’ commitment to their vision. Successful executives create environments where employees feel valued and connected to the organization’s mission.
“A leader is one who sees more than others see, who sees farther than others see, and who sees before others see.” —Leroy Eimes
“Complexity” and “change” are here to stay. The standard of executive leadership will only remain high. Only executives who embrace continuous growth, resiliently transform amid ambiguity, engage and develop a committed workforce, and champion culture with authenticity can sustain competitive advantage and unlock new growth for their organizations.
Based in Chicago, Illinois, Mary Sullivan is an associate consultant at Vantage Leadership Consulting and Ph.D. candidate at The Chicago School of Professional Psychology. With an undergraduate BBA from the University of Wisconsin-Madison School of Business and a background in experiential marketing, she combines her strategic business perspective with a passion for behavioral science to bring out the best in people and organizations. Her doctoral research explores the connection between personality and leadership effectiveness and her consulting work focuses on developing leaders through executive assessment and training.
