Companies today value executive skills such as leading, negotiating, and making decisions. These skills have become increasingly important over the last decade and are likely to become even more important in the next decade. Here are the traits you need to succeed in the C-suite:
Companies are increasingly looking for executives who are good at change management as the business world becomes more diverse and dynamic. Change management generally refers to the ability to deal with constant change and flux rather than large-scale transformation.
An organisation looking to bring about change requires an executive motivated by a desire to constantly improve the organisation and status quo. Often, firms seeking this type of change will look to an external candidate, as they can bring new skill sets and experience that can lead to valuable change and growth.
The ideal candidate for a C-suite position should be able to persuasively present to a variety of stakeholders, both internal and external, to the organisation. They should be able to do this in a way that is Board-ready and influences the direction of a business.
Good presentation skills are essential for success as a C-level executive. This is because you often have to communicate with people outside your company, such as shareholders, regulators, and the media. It is important to be able to present information clearly and concisely, as well as be able to understand and synthesise the information that you are given.
The most essential skills for CEOs are those that allow them to lead effectively. This includes humility, inspirational leadership, working well with other executives, and strategic thinking.
Ethical leadership is also important. The type of leadership that companies seek out varies depending on the company's specific needs. Often, when a company is starting a new venture or growing rapidly, it will look for a visionary leader who can take charge and drive the company to new levels of performance, efficiency, or growth.
A good leader is a team player, working with teams and developing team members. A world-class leader must create a strong leadership team. It's impossible to be a successful leader if you're just a one-person player focused on your own career and personal results. Today's executives need to focus more on developing their teams.
The modern executive cannot simply sit in their office and give orders; they must be able to work well with others, handle multiple tasks at once, lead without relying on their title or position, and stay calm under pressure. They must also ensure their employees do not become overwhelmed and burnt out. All of this must be done with a positive attitude and a growth mindset.
C-level executives need depth in the body of knowledge they are responsible for, such as law, finance, or technology. Many respondents noted the importance of understanding how technology impacts their organisation and how to use it to their advantage. Financial acumen and industry-specific content knowledge are also necessary. Technical skills are not declining in importance, contrary to popular belief, however they need to know how to leverage the right people in their team to solve the right challenges.
In order to drive transformational change, executives need to be resilient and strong. They need to focus on human connections and inspire others through their positive behavior and actions. When times are tough and change is needed, it's up to the executives to lead the way through effective and transparent communication. They need to be able to stay the course and keep their team motivated. People are more likely to buy into a change if they feel like they're part of something bigger, connected and learning. They need to feel like their voices are being heard and that they have a stake in the outcome.
Are you looking for executive leadership coaching in Australia? Turn to Stuart Andrews, offering leadership coaching to support executives and business leaders to drive successful initiatives while their teams consistently perform at the highest level. Schedule a discovery call or buy the book now!
As we move into the next decade, it's clear that the world of HR is changing. And, as with any major shift, there's a lot of confusion about what this new world will look like.
Five Key Priorities
In a rapidly changing business landscape, it's more important than ever for HR leaders to stay ahead of the curve. Here are five key priorities for the next-generation of HR:
1. Employee Experience
The number one priority for HR is to focus on the employee experience and engagement. HR needs to create a work environment conducive to employee engagement and satisfaction.
2. Diversity and Inclusion
Another key priority for the next-generation HR is to focus on diversity and inclusion. Businesses need to create a welcoming and inclusive workplace for all employees, regardless of their background or identity where their views and opinions can be expressed without judgment.
3. Talent Management
Talent management is critical to reducing attrition. HR needs to review and adapt to new ways of attracting, developing, and retaining top talent.
4. Workforce Planning
HR needs to ensure that the workforce is composed of the right mix of skills and experience to meet the needs of the business. This is to be complemented with the right executive coaching to help leaders and managers build high performing teams.
5. Data-Driven HR Function
Data is becoming increasingly important in all aspects of HR. HR leaders must be able to collect, analyse, and use data to drive decision-making. This data can be used to improve HR strategies, programs, and policies. Additionally, data can be used to identify trends, issues and measure the impact of HR initiatives.
Future-Proofing the HR Function through Executive Coaching
The Human Resources (HR) function is responsible for a company’s most valuable asset – its people. To be successful, the HR team must constantly be evolving and adapting to the ever-changing needs of the business.
One way to ensure that the HR department is always moving forward is to invest in executive coaching. Executive coaching can help HR professionals develop the skills and knowledge of the organisation’s leadership team to better equip them for constant change.
Here are four ways that executive coaching can help future-proof the HR function:
1. Develop a Strategic Mindset
The first way executive coaching can help future-proof the HR function is by developing a strategic mindset. In order to be successful, the HR department must be able to think strategically and align its goals with the overall business's goals. E.g. having an outdated policy mandating set days in the office across the board may not be efficient for certain teams and therefore impact company wide objectives.
Through executive coaching, HR professionals and the broader leadership teams can learn how to identify the key factors that will impact the success of the business and make decisions that align with the company’s overall strategy.
2. Build a Strong Team
Executive coaching can help HR by helping them build a strong team guided by handbooks that future-proof the HR department. It’s imperative there are clear, documented and socialsised practices from talent acquisition, on-boarding to managing the complete employee lifecycle.
3. Improve Communication Skills
The HR department must communicate effectively with all stakeholders inside and outside the company. Through coaching, HR professionals can learn how to listen to others, understand their needs, and communicate in a clear, concise, and persuasive way.
4. Increase Emotional Intelligence
Executive coaching can help by increasing emotional intelligence across the board. The HR department must be able to deal and manage so many emotions, both their own and those effectively of their employees. This is a key skill for managing conflict, difficult conversations, stress levels and burnout.
The role of HR is constantly evolving, and HR professionals need to stay ahead of the curve. One way to do this is by utilising executive coaching. Executive coaching can help HR professionals build high performing teams, become more strategic and influential leaders.
Are you interested in executive coaching as a business leader? Stuart Andrews can help. Stuart supports executives and business leaders through leadership coaching to ensure that your teams perform at the highest level. Contact us today!
The Leadership Shift: How to Lead Successful Business Transformations in the New Normal offers further information on executive leadership and transformational change. Get your copy here!
Building trust with your team in a remote or hybrid environment can be difficult, but there are some things you can do to simplify it.
As the need for more flexibility and the ability to design the hybrid environment, managers have challenges building and instilling trust among their staff. Allowing their staff to work asynchronously may be necessary, so they cannot instantly contact them from 9 to 5 daily.
Building trust for teams who operate remotely or in hybrid workplaces may be difficult, however, below are some effective tactics and where to find executive leadership coaching in Australia to improve your team’s performance.
Exercise Effective Communication Skills
To build trust when working remotely, communication is essential. Managers must be aware of the various forms of communication that may be used to build trust amongst all team members.
CEOs must communicate straightforwardly and consistently. The workforce looks to the CEO to set expectations for communication. According to several studies, for a team to communicate and share its thoughts, C-level executives must create a level playing field for communication.
It's essential to keep everyone up to date on work-related developments and to ensure that they know where and when each team member is working. Take time to get to know the people you work with; it is their specific needs that should be the focus of your communication. People vary in their communication needs, so it's important for you to try to find out what a person prefers when it comes to getting updates from you.
You may also look for an executive coach to help you improve trust and relationship-building strategies.
Use Openness and The Right Technologies
Businesses must invest in the required technology and safeguard their sensitive data to connect with dispersed teams throughout offices and remote locations properly. In today's hyper-connected world of the cloud and connected devices, this is becoming an increasingly difficult task. Technologies such as the Internet of things, artificial intelligence and big data are exacerbating the problem. To avoid catastrophic incidents from occurring away from the office, businesses must ensure that their workers are secure when working remotely and provide the essential tools. Essential tools include secure and encrypted connections and communications, cloud platforms that allow for the sharing of files and the ability to collaborate on a single system regardless of location. These essential tools will also help to safeguard the sensitive customer data many companies hold dear.
The flexibility that hybrid work provides is one of its key advantages. A Flex graph poll found that 21% of respondents desired to work fully remotely, 22% preferred to work in an office, and 57% were looking for hybrid employment.
As a result, the workforce will be split between those who work only in offices, people who work solely from home, and people who combine both types of employment. In addition, some workers might want to work shifts other than the standard 9 to 5 hours. A study found that 57% of workers wanted flexible working hours.
Managers and employees must agree on flexible work schedules to sustain the benefits of hybrid working. The key to building confidence among the team is speaking openly about this flexibility. Flexibility, however, may only be respected if employers know that tasks are being completed.
Programs exist to assess and track how much time a person spends working, but employers shouldn't use them to make trust-building decisions for teams. While reports claim that this energy should be shifted to a focus on results, managers could still feel the need to regularly check in with their remote workers to ensure they are accomplishing their jobs. It may be argued that meeting a task's deadline rather than keeping track of the exact number of hours spent on it should be more important.
Ultimately, giving up excessive control may aid managers in forging closer bonds with their teams, improve employee engagement, and increase productivity.
Building trust in a remote/hybrid environment can be achieved through various means. Maintaining open channels of communication and being honest with your workers is essential. Additionally, it is helpful to establish clear expectations and follow through on commitments. Finally, being responsive to team members' needs and flexible work arrangements will improve the trust amongst a team and lead to higher performance. To learn more, you can seek executive coaching for further insights and techniques specific to your challenges.
To help your employees consistently produce the greatest outcomes, executive and company leaders may steer successful initiatives with executive leadership coaching in Australia from Stuart Andrews. Learn more about trust building with his new book, The Leadership Shift: How to Lead Successful Business Transformations in the New Normal–purchase here!
Most employees are not loyal to their company, and many organisations lose a significant number of employees every year. Hiring replacements is not only costly but takes a significant toll on team morale. Employee retention is pivotal to maintain operational efficiency and growth targets. How exactly do you achieve this? Below are some simple tips to help you retain your most valuable asset.
Understand What Employee Loyalty Is
Employee loyalty is the feeling of attachment an employee has to their current employer. This feeling makes employees less likely to seek new opportunities elsewhere. You need to find ways to make your employees feel good about their decision to stay with your company.
This can be done by increasing their positive emotions and ensuring you have an amazing Employee Value Proposition (EVP). Making your employees feel appreciated, valued, and respected will go a long way in improving their loyalty.
It can be easy to get caught up in trying to change specific behaviours that are causing problems. However, it is more effective to focus on the root emotions that are driving those behaviours. When you understand and address these feelings, the specific behaviours will often take care of themselves.
Provide Fair Compensation
Employees want to be paid what they are worth. If they feel like they are being paid less than their peers, they may try to negotiate a higher salary elsewhere.
The most effective way to establish competitive fairness is to ensure you are constantly reviewing how the roles are being compensated both internally and against external benchmarks.
Do Not Create Tension
Leaders who force their employees to behave like them unknowingly create tension. It's better to encourage employees to be themselves, embrace an entrepreneurial attitude, and build engagement through different means.
Tension starts to form when management doesn't bother communicating with the people they're leading. If leaders and managers are not empathetic towards their staff and their development then this will likely build resentment and employee disengagement. Instead, try to be more open and understanding of what your employees need. This way, they'll feel appreciated and will be more likely to do their best work.
Focus on the Positives in Every Employee
Instead of focusing on what your employees are doing wrong, try to identify what they're doing right and what they're excited about. Create a plan that uses their strengths to achieve the results you want.
Encourage your employees to find ways to contribute that work best for them and help the business achieve its goals. Don't just focus on the obvious things that need to be done, but also look for ways that employees can excel and feel fulfilled in their roles.
Ensure engagement and autonomy
The current key management concept is "engagement," which means managers should cede autonomy to employees. This is similar to the previous concepts of "delegate" and "empowerment," which also emphasised giving employees more responsibility and authority.
When employees are engaged in their work, they are more likely to make decisions that contribute to the company rather than simply following orders. As a result, companies with engaged employees have a 31 percent lower turnover rate. One way to increase employee engagement is to let employees take control of their work outcomes. This instills a culture, where employees feel empowered and therefore excited about their work environment.
Effective leadership is about creating a positive culture that fosters an environment of trust, high morale and focuses on employee engagement. Employees need to feel like their leaders have their best interests at heart and will support them through thick and thin. Leaders who are inconsistent or focus on politics will find that their employees quickly disengage.
In today’s climate, employees are especially vulnerable, not really knowing who to trust, rely upon, or follow. No one wants to follow a leader who isn't looking out for their best interests. Good leaders know they must work to keep their best employees through open and transparent communication balanced with emotional intelligence.
Are you looking for executive leadership coaching in Australia? I provide leadership coaching to support executives and business leaders drive successful initiatives while their teams consistently perform at the highest level. Schedule a call today or buy my book here.