Coaching Archives | Page 2 of 3

Coaching is a fantastic way to draw the potential out of leaders. It helps improve confidence, productivity, and is a sustainable form of development, as what is learned is taken and applied independently afterwards. And this is a proven fact – on average, an individual increases their productivity by 86% when training is combined with coaching, compared to only 22% with training alone. But in order for coaching to be effective, the context of who is being coached, and when, must align with what coaching has to offer in order to actually reap a significant return on investment (ROI). Coaching works well alongside training when it supports the embedding of new skill sets which have been the subject of the skill building. More often, however, coaching at this level is focused on shifting a mindset. In that situation employers must first be able to identify if the leader’s needs are, indeed, coachable.

Coaching requires you to explore, support and challenge a leader’s thinking in order to help realign their perspective. However, an executive can only be coached to think and operate differently if they are open to doing so. Coaching isn’t designed to change people fundamentally, it acts as a way of unlocking unrealized potential – this new approach was always an option, it just needed to be teased out in a methodical way.

How can you tell if this is the case?

The individual should have exhibited a desire to be coached in some way, and previously displayed behavior of wanting to learn, as well as change in response to feedback. Coaching can be an intimate experience and can sometimes feel judgmental, when in reality it is designed to push the coachee so that they gain a sustainable form of development. If a leader has previously shown the want to improve and strengthen their abilities, then this person will be a perfect fit for executive coaching and will likely benefit greatly from it.

Also, timing matters! Coaching is extremely effective when a leader is at a learning inflection point. This can take shape in many different ways, but will typically be a moment of realization, a challenge they are facing, or noticeable dissonance. These all act as coaching catalysts, as they spark the focus needed for coaching to be successful. Once this inflection point has been identified, the coach can then help the leader map out the goals of their sessions and pave a clear path to meet them.

Executive coaching is rising in popularity – in 2022, it was estimated that the global executive coaching market was valued at $9.3 billion – which is almost a $1 billion increase from the previous year. This is because the satisfaction rate for coaching is near to 100%, but to ensure that it remains that way, employers must be able to identify the correct context for successful and meaningful coaching to take place. This ensures that money is not being wasted, but instead converted into a high ROI.

If you would like to seek out coaching at a leadership level or are interested in being coached yourself, please get in touch with me at anya@orgshakers.com

If you haven’t come across the term ‘quiet promotion’, it references the practice of employees assuming the responsibilities of a former colleague without formal recognition or compensation.

Sadly, this is not as uncommon as people might think. One recent study found that 67% of workers had taken on the responsibilities of a more senior colleague after that colleague left the company, while 78% had taken on additional workload without any additional compensation.

Quiet promotions can pose unintended consequences for the employee assuming these additional responsibilities, the leadership team, and the organization as a whole:

The Employee:

It is likely the employee will not have the bandwidth to assume greater responsibilities, and if the employee receives little-to-no communication around this need, it is unlikely that they will be able to remain productive in an environment of increased responsibility.
There could be training concerns over the employee – have they received the proper training to execute the new work/responsibilities?
Giving someone new responsibilities without effective coaching will lead to engagement concerns. Even if an employee understands how to facilitate the additional responsibilities, without overall vision and the opportunity to demonstrate new skills that could lead to future potential with the organization, the employee’s commitment to and trust in the organization are likely to falter.
All of this can lead to the employee potentially looking for other positions, which will result in a turnover cost that would be greater than the additional compensation saved through a quiet promotion. Turnover can cost up to 75% of a salary, and for more executive roles this number can rise to over 200% – which ultimately leads to a larger economic loss.

The Leadership Team:

Choosing to quietly promote can fracture the relationships that management have with their employees. There is a surreptitious element to a quiet promotion, and this can cause employees to question the trust they have in their leaders, leading to a range of miscommunication issues later down the line.
If leaders are choosing to quietly promote, they are likely missing the opportunity to analyze the role of the employee who departed the company. There is unrecognized opportunity to study the role of that person and assess whether there were any obsolete or inefficient processes in their responsibilities. This can be used as a starting point to decide whether the organization needs someone to replace this role or whether the actual usefulness of it can be fulfilled and absorbed by others. This then needs to be communicated with the prospective employee(s) taking on these new responsibilities, with considerations for future compensation and advancement, tied to successful performance of the new skills and responsibilities.

The Organization:

Mismanaging a separating employee’s transition can have ripple effects on the productivity of a department, as outlined above. Additionally, these effects are not likely sequestered at the department-level; there are impacts and potential output concerns for the organization as a whole.
Pay philosophy and performance motivation become weakened if employees are quietly being given more work to do without formal measurements of success, which is linked to the organization’s total rewards. Even if the employee is taking on a larger workload for a short amount of time while the company seeks a replacement, then ensure that gratitude is expressed to this employee through recognition programs, a one-off bonus, or additional benefits.

When it comes down to it, quiet promotions are unlikely to create cost savings for an organization. While initially it may seem like a smart move to save some money, especially in economically trying times, ultimately the costs associated with the loss of productivity, engagement, and potential increased turnover do not compare to the cost of effectively leading an organization through transition and providing rewarding career opportunities for committed and loyal employees.

If you would like to discuss strategies for supporting your business with its turnover rate, or how to manage an employee separation in a cost-effective manner, please do get in touch with me at victoria.sprenger@orgshakers.com

Today’s economic and social climate plays a big role in perpetuating stress in the workplace. Executives who know how to leverage personal pressure while effectively managing stressed employees possess a vital skillset, particularly in a cost-of-living or organizational identity crisis.

For example, leaders who successfully practice healthy personal habits and foster wellbeing in their organization’s workforce hold a significant competitive advantage. Knowing how to manage their own feelings of stress can also increase an executive’s longevity in the demanding world of c-suite leadership.

The above global report recently found 41% of senior leaders were stressed, and 69% of executives were thinking about quitting because of their wellbeing. Therefore, effective stress management can be key for reducing executive turnover. And in the same breath, stress management in the C-suite will have a trickle-down effect on their company. The idea of ‘follow the leader’ rings true in today’s world of work – if the C-suite is experiencing burnout from stress overload, how can they also effectively mitigate the stress levels of those who work with and for them?

This article focuses on three of the actions C-suite leaders can take to leverage the tensions inherent in their roles as organizational leaders. For information around mitigation of stress in the workforce, check out our article here.

How can executives leverage personal stress?

Know the Difference:

Savvy executives start by recognizing the difference between feeling stress and feeling pressure. A certain level of pressure and expectation is inherent in any executive role. This tension is often motivating and a beneficial by-product of personal and organizational success (e.g., company growth). When working in a high-stakes position, however, stress can easily mask itself as ‘just part of the job’, when this isn’t the case. By correctly identifying stress versus pressure, senior leaders can take advantage of tension-ridden scenarios through innovation, perseverance, and focus. They can rally flagging troops to achieve objectives and recharge themselves by accomplishing challenging goals or navigating rough waters. Conversely, failing to identify personal stress can result in questionable decisions, divisive behavior, and decreasing productivity and morale. Choosing the most effective path forward begins with correct identification of stress vs. pressure.

Schedule for Health:

Stress management has been heavily researched, and a myriad of resources, training, techniques, and approaches exist, and this is because stress is known to have negative effects on the body and the mind. Chances are, most C-suite executives have studied and built their stress management skills over the course of their career. Executives can be experts in ways to mitigate stress in their organization while failing to prioritize their personal physical and mental health management. One study found CEOs work an average of 79% of all weekend days, 70% of their vacation days, and 62.5 hours per week. Knowing how to best mitigate stress helps lessen negative influence, but only if stress management is a scheduled, prioritized, and practiced part of an executive’s daily routine.

Successful executives schedule their health into their lives just as they would schedule shareholder meetings. Allocating specific time in the day to exercise, eat, and reflect is essential. There is no one set thing executives should do in the time they block out for themselves. Rather, it’s important to take that time and do something restful, rejuvenating, or just plain fun. Executives need balance as much as employees do, so establishing a clear work-life balance is instrumental to managing stress and mental health.

Be the Leader:

It is also important to remember that executives are role models – their behavior has a direct effect on the culture and tone of the company they oversee. If they are trying to promote values of mental and physical wellbeing while choosing not to comply themselves, their team will likely feel less comfortable asking for support or assistance when it is needed. The classic example? Coming to work when sick, but then encouraging staff to take the day off if they are unwell. This type of mixed message has a trickle-down effect on the organization and can elevate workforce stress levels.

While these actions may feel simple or obvious, getting started may not be easy. One path to greater personal and organizational wellbeing is through executive coaching.

Another is bringing a consultant on board to help identify effective health and welfare strategies. Taking action to intentionally manage stress and pressure can result in a domino-effect of improved productivity, organizational culture evolution, and improved attraction and retention rates.

Knowing how to manage stress at an executive level in a healthy manner can cascade down the hierarchy of your business and foster a healthy, happy, and productive workforce. To get in touch to discuss coaching for stress or implementing health and wellbeing strategies, please connect with me at amanda@orgshakers.com

It is not uncommon to feel stressed at work, and so how employers manage this can be vital to ensuring that their teams are being supported so they can produce their strongest output. CIPD’s Health and Wellbeing at Work report found that four-fifths (79%) of companies reported some stress-related absences over the last year (and this figure rises to 90% for larger organizations).

So, what can leaders be doing to ward off these stresses?

Leadership Alignment – during periods of economic uncertainty, it’s particularly important that management are aligned on the top priorities for their organization. We already know that the ongoing cost of living crisis is causing stress for employees– an ACAS survey found that three out of five (63%) employees felt stressed because of the rising cost of living – so it’s key that people have confidence in the long-term financial stability of the companies they work for. Having a strong leadership team who are all on the same page sets a great precedent for the overall tone of the business.
Senior Executive Support – it’s not always easy for senior leaders to find that perfect balance between demonstrating optimism for the future of the business and being authentic and transparent with employees. But being calm and clear can prevent staff stressing over assumptions and ‘what ifs’. This reliability and consistency of behavior in higher-ups builds trust with teams, and so it’s important that the messages don’t appear to swing between good and bad news on different days – acknowledging the challenges and connecting them to the company strategy is key. Executive coaching can be a great way of supporting senior leaders as they process their own thoughts and feelings and explore options and solutions.

‘Re-recruiting’ Employees – amid mass layoffs, it is very normal for those employees who keep their job to suffer from ‘survivors guilt’. Remaining employees may also have to flex to focus on objectives that aren’t part of their preferred or original area of work, and this can lead to lower levels of motivation. A great way to mitigate this is to have an employee engagement strategy in place. Through regular check-ins, managers can both keep teams and individuals aligned to the bigger purpose and values of the organization as well as help people see how they are adding value, and recognize achievements, in the immediate term. Running some ‘building resilience’ workshops alongside this can also help with the management of stress during an uncertain time.
Encouraging Paid Time Off – PTO is a great way for employees to decompress, and if employers are encouraging this, it removes any potential awkwardness or guilt around asking. Especially in a hybrid and remote working world, where the boundaries of home and work can sometimes become blurry, it is necessary to reinforce the importance of taking personal time.
Employee Assistance Programs – Having EAPs or mental wellness programs are also useful when dealing with an employee whose stress may require more targeted help from a specialist.

Adopting these practices in your organization can be extremely beneficial to help proactively deal with stress in the workplace. With the working world continuing to evolve and grow in response to the pandemic and to economic fluctuations, ensuring that you have strong protocols in place to help employees manage stress is vital for the health and wellbeing of your people and your company. If you would like to get in touch about creating and implementing organizational strategies to combat stress, get in touch with me at anya@orgshakers.com

An employer’s paid time off (PTO) policy is critical when it comes to attracting new talent – a recent study found that PTO was the second most compelling benefit a company could offer.

This can inevitably lead to the consideration of unlimited PTO. It is already a particularly popular policy amongst US tech, media, and finance companies (a recent survey of 200 of these businesses found that 20% of them were already offering some form of unlimited PTO). As well as this, from a more generalised perspective, workplace discussions of unlimited PTO have risen by 75% since 2019, highlighting its increasing popularity.

But is it the best policy for your organization?

The problem with unlimited PTO is that it can easily sound better than it actually is. The prospect of having no set vacation days is an attractive one – it implies that the company values employee wellbeing – but this may be more in theory than in practice. A lot of the time, employers will probably find staff actually taking less time off then they usually would if they had been allotted a set amount of vacation days. This is primarily because employees don’t know how much is too much, despite the policy indicating that there is no such thing. No one will want to look like the person who takes a lot of time off, as this may reflect badly on their work ethic, and so staff can end up working more.

However, this doesn’t mean that unlimited PTO cannot be successful – but it has to be delivered in a certain way in order for employees to actually feel comfortable and entitled to take it.

For one thing, leaders who lead by example are going to set the cultural tone for their workforce. If employees see their line-managers, team leaders and executive staff enjoying the benefits of unlimited PTO openly, they are going to feel much more relaxed in indulging in this perk.

Secondly, if a business is going to adopt an unlimited PTO policy, a great thing to do would be to also enforce a minimum amount of vacation days every employee must take. This demonstrates how taking time off for oneself is a value that the company holds, and means that everyone is getting time off and not overworking themselves.

Lastly, this policy also requires effective performance coaching to be in place. If a manager notices someone falling behind on their work who is also taking a noticeable amount of PTO, this can lead to missed deadlines and output issues. Leaders having the ability to coach individual performance means shifting from an ‘hours someone is putting in’ mindset to an ‘output someone is producing’ mindset. This way, employees will understand that their vacation time is unlimited, but has to be worked around project deadlines to ensure output remains consistent. This offers staff autonomy and flexibility over their time without a loss in productivity.

It is also very important for employers to be clear about how an unlimited PTO policy goes hand-in-hand with their absence policies – establish the difference between things such as maternity and other leave of absence programs otherwise extended leave may just be taken in paid vacation.

Something to note is that in an increasingly remote and hybrid working world, unlimited PTO may not necessarily be something that’s needed. Instead, companies could look at endorsing flexible working patterns – have a set amount of days whereby an employee can fully check-out from work and be off the grid, but then outside of that, companies should work with their staff to be flexible to their individual needs. This way, PTO can be made to work for everyone, and avoids those feelings of guilt about taking too much time off.

If you would like to discuss how to optimize your PTO policies and overall benefit packages, don’t hesitate to get in touch with me at Brittany@orgshakers.com

By Marty Belle, Therese Procter and Viona Young

Chris Rainey’s latest HR Leaders podcasts featured Stephanie Murphy (People Analytics Leader at Dell Technologies), and together they discussed the topic of accountable leaders through the use of diversity, equity and inclusion (DEI) data.

In response to being asked some of the biggest challenges she is solving with DEI analytics, Stephanie answered, “I think the biggest thing has been accountability…it’s about making sure that if you bring people in they’re going to stay in.”

She goes on to outline how in the context of Dell, they added a separate category into their annual survey to be able to measure inclusivity in different teams, and then set up a system which would flag potential causes for concern if leaders scored below a certain point.

This completely aligned with our thinking and prompted us to consider the importance that accountability plays in the DEI space, and how holding oneself accountable can sometimes be a daunting thing, but inevitably is a strategic imperative.

In terms of leaders and line-managers, understanding the importance that their roles play in driving DEI throughout the company and holding themselves accountable for that can be the difference between a successful and non-successful business dynamic. There has to be zero tolerance for ignorance on DEI and the spotlight has to shine on awareness, education and training where the necessary leadership skills are weak or nonexistent entirely.

We turned our attention to a global report published by Lee Hecht Harrison which found that despite 72% of business leaders and HR professionals recognizing that leadership accountability is a critical business issue, only 31% are satisfied with the level of accountability they see from leaders in their organization.

There can be a number of reasons for this accountability gap, and one that we have noticed on numerous occasions both in the US and the UK is the fact that the DEI space is continuously expanding its parameters to include much more than it originally did a few decades ago.

While it is fantastic that more multidimensional diversity attributes are being addressed in DEI strategies, this does pose the potential risk of diversity efforts being diluted if organizations do not take into consideration the research conducted by Bailey Jackson, who was one of the first to identify that some differences matter more than others. Specifically, she found that the diversity attributes that make the biggest difference are ethnicity, gender, marital status (and children), race, sexual orientation, language, physical ability, socioeconomic status, religion and mental ability. From this perspective, it can be challenging to identify accountability when the scope of DEI feels like it is still being determined.

Another reason for this gap could be the fact that DEI can sometimes feel like a difficult / sensitive topic to discuss as a leader – especially if this leader is white and male. There is a tendency to stray away from uncomfortable conversations, as well as avoid topics that they may not have a deep understanding of and/or insights into. This can lead to avoidance of accountability, which can have a negative snowballing effect on the company culture as it perpetuates values that do not align with the organization.

This is why accountability is so important when it comes to DEI, and why Stephanie’s data-driven method of measuring this has been so successful for Dell. Executives must ensure they are being very clear with leaders and managers about their DEI responsibilities, and then find the best way of tracking and enforcing these practices for their company.

What we can conclude, therefore, is that there is no one-size-fits-all approach for cataloguing this, but we need to ensure as leaders we step up and hold ourselves and others accountable for acquiring, practicing and improving the grasp of new DEI competencies. By doing so, we can begin to perpetuate a culture of belonging at work and see true inclusion in action – one study even found that having a strong sense of belonging at a job was linked to a 56% increase in productivity, a 50% drop in turnover, and a 75% reduction in sick days.

At OrgShakers, we have a vast amount of skill and experience creating global DEI strategies across different sectors, and are able to help ensure that DEI is remaining a business priority.

We know that having a diverse workforce has been proven to improve profitability, and so establishing accountability for DEI in your organization is the first step towards embedding this into the fabric of your company and reaping its rewards (from an economic and environmental, social and governance perspective).

To continue this discussion around DEI, don’t hesitate to reach out to us us through our contact page!

Managers who know when to have a laugh and not take themselves too seriously tend to be some of the best. Their joie de vivre makes for a happy workplace and fosters healthy relationships with their team.

We will all have experienced occasions, however, when a manager has inappropriately bookended a far from light-hearted message with quiet chuckles. This is what is known as laughter padding – and it can be far from funny!

Laughter padding is a very common reflex that its perpetrators use without even realising they are doing it.

Much of the time, this innate need to smile or laugh can emerge in managers or executives who have to discuss something uncomfortable, deliver unfavourable news, or ask something of someone they suspect that individual will not want to do. And the problem with this tic is that it may undermine their authority.

Now, it is not uncommon for managers to feel a bit out of their depth. A recent study found that managers significantly lacked confidence in their ability to talk about potentially sensitive issues such as work flexibility and employee wellbeing. These are the situations when the laughter padding reflex can kick in.

In their subconscious they are trying to ‘soften the blow’ of their words by padding them with laughter – but to the person receiving the message this can easily be perceived as the manager failing to take the issue seriously; ‘This is no laughing matter!’

This can lead to a range of communication issues with a senior member of staff and their team. The urgency of a request, or the clarity of feedback, will be at risk of falling flat, and these problems that could have been avoided are now being given the opportunity to snowball.

So, what can a manager do to prevent this?

A lot of the time, a person doing this habitually will probably be nervous to some degree. The fear of having to speak publicly, known as glossophobia, is a very common one, with up to 75% of the population being affected by it. In this situation, a management coach would be able to help them improve their confidence by guiding them in understanding why this laughter padding response is being triggered.

Interestingly, the reflex is believed to stem from humans’ instinctive need to gasp for air to oxygenate the muscles. We take deep breaths to prepare for an emergency or in the face of danger, and in these scenarios the ‘danger’ would be the possible repercussions of telling someone off or speaking in a difficult circumstance.

To combat this, a coach might suggest that if the manager knows they are going to have to have a conversation that they suspect may not be well-received, they rehearse what they are going to say. Practicing it a couple of times will make it easier to approach the discussion.

As well as this, a coach will help them to distinguish when it is and isn’t appropriate to laughter pad. The reality is, laughter padding in the right context is a great tool to increase managerial approachability. But the key to this is chuckling when it is more genuine, and fits well with the tone of the conversation. This way, when they are having to have a more difficult discussion and are not padding it, the person listening will realise that this is a more serious situation.

It’s all about finding that balance, so if you think you or your managers might be laughter padders, you can reach out to our team of coaches for help in turning laughter into a leadership asset – not a derailer.

As coaching continues to grow and many organizations are increasingly happy to invest in bringing in external coaches, the reach of this valuable tool can be significantly increased when we also take time to build the coaching capability of managers.

Research from an ICF Global Coaching Study found that 99% of workers who had been coached were satisfied or very satisfied, and 96% of them said they would repeat the process. However, most managers that I talk to admit to finding coaching ‘scary’ or ‘nerve-wracking’; some of them worry that they won’t be equipped to deal with the level of vulnerability that might arise, while others simply worry that they won’t be able to ask the right questions. So, what often happens is managers default to mentoring their employees and then call it coaching.

As we are in National Mentoring Month, I’ve been reflecting on how both are valuable and whether there’s a way we can support more managers in getting the balance right. This can even be as part of the same conversation if managers have a simple structure for how they might do this. After all, professional coaches sometimes offer suggestions to their coachees!

What I would suggest is that the first step is to simplify the coaching process. Everyone will probably feel comfortable getting someone they are coaching to:

Get clear on what the problem is that they want to solve and what the desired outcome looks like.
What the options are to get there – including obstacles they might encounter.
And what the steps are that they can take to get there.

I often recommend that managers read Michael Bungay Stanier’s The Coaching Habit. But, even if they don’t have time to read the whole book, they should have time to read one of the many articles that outline his 7 questions designed to help leaders coach.

If managers spend the first part of a development conversation focused on encouraging their employees to explore their own ideas and take time to think differently, I think it’s then highly complementary to build on this with appropriate mentoring.

After all, your boss has often experienced the exact same challenges you now face, so why wouldn’t they want to share their wisdom? Perhaps what’s key in the transition from coaching to mentoring in this situation, is avoiding the word “should” and clearly stating that while this is what you experienced, and/or did, that it won’t necessarily be the right solution for you. Instead, position it as something to consider.

I read a statistic recently published by Ten Thousand Coffees that over 60% of employees would consider leaving their current company for one with more mentorship opportunities. So anything we can do to support managers by leveraging both coaching and mentoring effectively has got to be a good thing!

For more information around coaching and how it can benefit you as a client, get in touch with me at anya@orgshakers.com

To help mitigate the risks of executive derailment in the early stages of executive integration, there are four strategies we recommend.

1. PLAN YOUR LANDING

You would not send a spaceship to Mars without carefully surveying the landing zone and deciding how and where you will enter the planet’s atmosphere. Likewise, before taking on a new role, a new executive should spend their precious upfront time observing and gathering as much data as possible about the business and its people. This data collection should start early during the recruitment and selection process.

Here are some tips to accomplish this:

• Do your Homework: Seek out what you can about the organization’s performance, future ambition, and strategic plans. But, more importantly, try to find out what competitors are saying and prepare a list of questions about how the strategy and values are reflected in everyday decisions.

• Connect the Dots: Talk to current and former employees to find out what has made people successful. Ask the CHRO or HR business partner to share the organization’s talent and succession plans.

• Decode the Culture: Ask for the latest employee engagement survey and dig into the key drivers of organization culture:

a. What language are people using to describe the organization’s culture, accomplishments, and business challenges;

b. What behaviors are tolerated, encouraged, or rewarded; and

c. What processes does the organization value above others (these might become part of your early wins or biggest source of frustration).

2. BE PROACTIVE IN BUILDING RELATIONSHIPS

However well-suited you might be for the role you have stepped into, be prepared for the ambiguity that comes with a new mandate and untested relationships.

Building these critical relationships does not just happen accidentally – every new executive needs a plan to identify their stakeholders across the organization, in particular the less obvious ones whose names may not stick out but whose opinion is often sought-after by those in charge.

Over-investing in relationships involves a disciplined approach:

• Rehearse your story and how you want to introduce yourself, why you are here and what you are hoping to learn in these initial interactions – how you first show up will make a lasting impression

• Keep track of any promises you make, information you are missing, and your observations about each person you meet

• Write a fundamental question that shows you mean business. General McChrystal, the former commander of allied forces in Iraq, asked soldiers the same question: “If you couldn’t go home until this war is won, what should we do differently?”

3. DON’T WAIT FOR DIRECTION

Most executives are brought into new roles to create meaningful change. And, usually, they are greeted by a mountain of problems – some in the open and others hidden from view – that they need to tackle. Deciding which to tackle first and making a visible impact on the business is a critical early test of executive integration.

That test is doubly difficult for executives who have been promoted from an operational role and are eager to create a “to do” list rather than take in the big picture. Here, the trickiest part is giving up the temptation to work harder on operational challenges – something VPs are often good at doing – and learning to slow down.

As such, it’s not always wise to play the passive observer for the first 100 days or wait six months before laying out a change plan and making changes.

Susan Doniz, who took on the CIO role at Boeing during the Covid pandemic, has a practical roadmap for new executives: “In the first 30 days, develop your relationships and form a hypothesis. After 30 days, pick the lowest hanging fruit and fix it – fast.” She feels that the window to add value to the organization, executive team and the CEO begins to close after the first 60 days.

4. MAKE YOUR TEAM YOUR TEAM

The number one regret voiced by most executives is that they wish they acted more quickly to make changes to their team.

Making tough people decisions comes with the territory of taking on a new executive role. One CFO we interviewed acknowledged that “letting people go isn’t an easy thing to do,” and pushed off making a call on a few key individuals. “I let it linger, and it had a negative impact on my first year’s performance,” he reflected.

Most new executives need to set a hard one-year limit on getting their team in place. This removes doubt among their team and with their stakeholders. This also avoids the “drip down” effect of making waves of changes, which can create paranoia.

Tips to accelerate your people decisions as a new executive include:

• Quickly sense who is “on the bus” and who is not – trust your instincts

• Ask for stakeholder and peer input, and insist on candor

• Do not aim for perfection in the first 60 – 100 days – seek to improve what you have

• Give yourself a target date for when to have your team in place

Making it through the critical first year of an executive transition requires grit, leadership savvy and the ability to forget what made you successful in the past.

Making a successful transition requires taking a hard look at the leader you are, and the capabilities you need to develop to expand your leadership and succeed in your new role. Transitions can be a test of resilience, especially when you are promoted internally.

If you need coaching and guidance on how to make that transitional change into an executive role, get in touch with our team here.

Shortly after starting a new Chief Financial Officer (CFO) role, preceded by an impeccable 20-year career in finance, Peter was gone. What happened?

Joining a new organization is like careening down a highway while still figuring out how the steering works. While scrambling to locate cruise control, you can suddenly find yourself driving on the opposite side of the road, making a wrong turn, or ending up in a ditch. In this two-part article, Dr. Tracy Cocivera, Eric Beaudan, and Gary Payne explore how to overcome the challenges of executive integration.

According to McKinsey and Company, between 27% and 46% of newly placed executives are seen as a failure or a disappointment within two years of joining an organization.

As you transition into a new executive role, you can learn from Peter’s failure through strategic planning, building relationships, proactive decision-making, and understanding the value in your team.

Peter was the CFO of a $1 billion technology firm with operations across three continents, and managing a team of 50 finance professionals. His professional background was impressive, including 15 years as Vice President (VP) Finance at a high-growth technology business which had grown through an aggressive global mergers and acquisition strategy. When he was recruited by a private equity-backed organization seeking a CFO to scale the business and undertake an Initial Public Offering, Peter leapt at the opportunity. Confident and excited, he moved quickly to re-organize his team and launch a finance transformation agenda.

Six months later, Peter’s agenda ran into a wall, as did his trail-blazing career. He left the firm with a generous exit package, but with a bruised ego and sense of self-doubt.

WHAT HAPPENED?

1. Weak relationships – Despite his genuine attempts, Peter failed to forge a close relationship with the Chief Executive Officer (CEO) and his Chief Strategy Officer, who he underestimated.

2. Trust deficit – He hardly spent time getting to know his team, and instead became quickly frustrated by their shortcomings. He took on the critical reporting tasks he had previously handled as a VP Finance and became mired in minutiae.

3. Lack of communication – He never expressed his doubts and challenges – either with the Chief Human Resources Officer (CHRO) or an external coach – believing that would be seen as a weakness.

Peter’s experience is not unique. Adjusting to a new role, a new team, and demanding stakeholders can be a daunting challenge, even for an accomplished executive. Too often, we have found leaders like Peter are “underprepared for – and unsupported during – the transition to new roles.” (McKinsey & Co., 2018)

McKinsey reported that a successful transition can lead to a 90% likelihood that teams will meet their three-year performance goals. By contrast, unsuccessful transitions can result in a 20% drop in employee engagement and a 15% dip in team performance.

SHIFTING GEARS TO LEAD EFFECTIVELY IN A NEW ROLE

We set out on a quest to interview CEOs and senior executives in the United States, Canada, the UK, and China to better uncover the biggest struggles executives face in a new role. We found that, in many cases, executives have learned to manage culture and organizational politics using instinctive or learned behaviors that may not carry over naturally to a new environment.

The odds of success for newly appointed executives have become even more lopsided during the pandemic, as many workplaces have shifted to remote and hybrid work environments. The CHRO of a large Canadian telecommunications firm noted that remote work has doubled the time it takes for new executives to find their groove.

Combine that with the alarming tendency for both leaders and companies to overestimate their ability to fast-track the success of new executives, their teams can wind up in utter chaos. Worse, it can have a broader impact on organizational performance.

In Part 2 of our article, we will be highlighting the four main strategies we recommend to help mitigate the risks in the early stages of executive integration. In the meantime, if you would like to find out more, you can get directly in touch with us here.

As an executive or leader, time is the most valuable commodity, and yet it is in a fixed supply. While it is obvious that time management is important, sometimes we can lose track of what is a priority in the rush of our daily work. Harvard Business School conducted a study on CEOs and found that 79% of them worked an average of 7.8 hours over the weekend, on top of 9.7 hours per weekday. An executive role is evidently a consuming one, and so ensuring that you have control over that ever-ticking clock is a priceless skill.

A proact/react ratio is one way to measure how effectively you are using your time. If you

find yourself constantly interrupted by phone calls, knocks on your office door, and in meetings on short notice, then you may be in react mode. There are so many things coming at you at once that all you can do is react to them as and when.

But imagine how it would it feel to be making the calls you wish, having the meetings you think are important, and initiating action? If you find that you have time to think and engage with your staff, you may be in proact mode. You have control over your time and delegate it accordingly, being proactive and doing things before they have the chance to become something you have to respond to later.

So how do you move from react to proact? One way is to trust the people you

hire. Careful delegation to skilled, caring people with whom you have a great professional relationship with can give you the hours to do high level work that perhaps only you can do, by virtue of your position. This will allow for valuable uses of your time, such as more customer interaction, time to understand the competition, and developing a clear vision of what could be coming down the road.

Another thought is to set a one-hour time slot in your schedule at some point during every week, in which you schedule nothing. Do not catch up on e-mails and allow no interruptions. George Mitchell, former US Senator and Secretary of State, used this method, asking his executive assistant only to interrupt him during his thinking hour if his wife or the President of the United States called. Emergencies happen, but if you can be intentional about giving yourself time to think, read, and assimilate market data, you are moving into the proact realm.

Additionally, journaling as an executive can prove to be extremely beneficial for time management. It is a great way of strategizing for future endeavours, as you can reflect on things that have happened and find ways to mitigate potential problems in the future. On top of this, it will simultaneously help strengthen your leadership capabilities – the founder of Impraise argues that leaders need to be able to master the five soft skills of active listening, self-compassion, empathy, vulnerability and honesty. The privacy and ability to be honest when journalling allows leaders to develop and hone these skills.

If you need further guidance on how to start tackling your time, you can get in touch with us here.

Now that you have been introduced to what life as a first-time CEO has in store, here are three recommendations for emerging CEOs:

Build, develop and lead through your leadership team

Building their leadership team has always been an important part of the CEO job; but the composition and purpose of this team is changing as businesses themselves take on a wider understanding of their purpose.

Traditionally a CEO’s goal was to develop a “high performing team,” in which each member was responsible for a different function that created value for investors and customers. But thanks to a growing emphasis on Environmental, Social & Governance (ESG) considerations, today’s leadership team must now serve a wider caste of stakeholders than its predecessors. Employees, for example, are now considered primary and equal stakeholders to investors and customers. Similarly, many investors are now evaluating companies based on their social and environmental relationships with the communities in which they operate.

As a result, modern CEOs need to build “high value creating” teams, in which success is measured by the team’s ability to create simultaneous value for a broad array of stakeholders. A side effect of this widened imperative is that success is no longer measured by looking at how individual members of the leadership team execute their individual functions. Instead, a successful leadership team has to work interactively, across functions, to ensure that it represent the interests of (and creates value for) all stakeholders.

For first-time or new CEOs, building a value-creating leadership team—and making sure that you get the right people on it—is crucial to your ability to focus broadly across the needs of the organization and to increase value by steering company purpose and culture. But it is not easy to do. A Systemic Leadership Team coach can be invaluable in helping the CEO build, lead and motivate the perfect team.

Build informal relationships with individual board members

The board can be an excellent source of guidance for CEOs, and newly appointed CEOs should go out of their way to build informal relationships with individual board members who can provide the advice, feedback, and support that CEOs often fail to receive from other members of their organizations.

But building these relationships can be harder than it sounds. Your board members, after all, do not work in the office down the hall; they may not even live in the same country. This is why close relationships between CEOs and board members rarely just fall into place like they often do between CEOs and key members of the leadership team. Instead, building relationships with board members often requires conscious effort. New CEOs will need to go out of their way to creatively engage their directors on a regular basis outside of the formal strictures of the boardroom.

Work with a coach

Executive coaches are an excellent resource for first-time CEOs. As neutral third-party observers, coaches provide the kind of constructive feedback and skills training that CEOs, as bosses, often struggle to get from their team members. They also help CEOs improve their skills in conflict management, responsibility delegation, time management, and listening—all of which are necessary for new CEOs to successfully adapt to the role.

The purpose of executive coaching is to increase performance by improving emotional intelligence, which leads to a more empathic and self-aware leader. Even the best CEOs can get better at their jobs. Some of the most influential CEOs in the last decades—Microsoft’s Bill Gates and Alphabet’s Eric Schmidt among them—have benefited tremendously from executive coaching.

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The CEO job can be one of the most rewarding jobs in business. It is also unquestionably one of the most difficult. Incoming first-time CEOs should expect the role to bring a variety of changes to their lives, most of them positive, some of them negative, others downright confusing. By surrounding yourself with trusted advisors, by consulting mentors, and by hiring a coach, both new and seasoned CEOs can minimize their isolation and get the feedback they need for success.