Kathy Freeman Godfrey of Kathy Freeman Company is a member of the IACPR’s
prestigious Small Search Firm Planning Committee. Recently she sat down with Tom Casey, Managing Principal at Discussion Partner Collaborative LLC, to discuss issues confronting C-suite executives. Tom Casey will be a
key presenter at our IACPR Fall Leadership Strategies Summit 2013,
speaking to how to rank your leadership team, and what to do when they fall
short.
Tom, you work with senior leadership both at the C-suite
and a layer or two below at the Fortune 1000 companies, boutique firms, and
with start-ups. You also gather data that illuminates visible and
not-so-visible issues. Can you talk about how your research provides a unique
advantage when consulting to CEOs?
When
consulting with the C-suite, executives want their journey of learning to be
based on fact and judgment instead of a consultant’s intuition. Our work is
predicated on specific data that is collected across numerous sources, surveys,
and studies. This diligence produces real insights resulting in timely,
relevant talking points with our clients.
Can you give us an example of some data you’ve leveraged
and what you did as a result?
One
that immediately comes to mind is a recent Pulse Survey. The study found that
70% of 2000 executives indicated that beyond financial considerations they had
no concrete post-employment plans.
The
second was a Harvard Business Review (HBR) study of Fortune 500 Directors where
over 50% stated they were unhappy with their company’s succession plans.
We
combined these two elements into a “continuity value chain” evolving from
succession planning and inclusive of phase-down and post-employment transition
coaching. These subjects are hugely important at the C level and how they are
addressed is equally important to their company’s ongoing viability.
Yet
another example of data collected is that we ask our CEOs to assess the
question, “Am I the right person for this CEO role?” Surprisingly, over 60% say
“no.” This finding supports a recent HBR article pointing out that the
average tenure of a CEO in the Fortune 500 world is 3.5 years.
The
assessment we do is based on emerging strategy, enterprise positioning, and
incumbent capabilities. We find that there are numerous reasons why the
non-alignment rate is so high between companies and candidates. They include
the fact that the capabilities needed are incongruent based upon hiring error,
a lack of external and intellectual curiosity leading to rigidity, and/or the
changing business environment. For example, the recession required a turnaround
skill while the recovery demanded a growth strategy.
What is the biggest challenge confronting CEOs trying to
drive success in today’s environment?
In
our research, we annually survey 150 global CEOs and the concerns they have
encompass several common themes:
- The enterprise’s ability to be a player in the global markets
- The effectiveness and
efficiency of enterprise core processes
- The strategic use of
social media—an area in which they feel very inadequate given their
average demographic
- The talent readiness
of their leadership bench and capabilities of those in the most critical
roles
- Their personal abilities in the context of the changing economy and marketplace opportunities. For example a “turnaround” CEO usually does not have the same set of skills as a “growth” oriented CEO
In recent months, more firms seem to be giving non–CEOs the
opportunity to elevate their careers into the C-suite. What advice would you
give to someone new to the CEO position about becoming the best leader they can
be for their firm?
The
three principles we advocate for a new C-suite executive are:
- Watch, listen, and
learn
- Embed into your domain
and/or style what works based upon observation while acknowledging then
mitigating counter-productive behaviors or ideas
- Impress by performance vs. personality
What are the top two characteristics that personify
successful leaders?
- A bias for educated
and thoughtful action
- Reputation as a developer of your team
Contact
Kathy Freeman or Tom Casey for more information.
