The first emotion leaders experience when they accept their first CEO role is excitement.
The second emotion they experience is fear of failure.
Those reactions are both entirely understandable. CEO’s have all of the responsibility for results, but not all of the control to make them happen. That responsibility to control ratio is inherently uncomfortable. Much fear in life is unwarranted, but in this instance, the fear of failure is not.
In fact, it’s all too realistic: 50% of first time CEOs will fail to be successful in role.
But why?
Most of the time, failure in-role is due to a failure to manage change. Here are two ways that failure happens – and advice on how to protect against it.
Most leaders have the view that their leadership style is fairly fixed. This assumes that the way they lead is inherent to them – their views, their personality, their strengths, and the things that have worked for them in the past.
Unfortunately, that belief is a recipe for disaster in a new role, because a new role is often vastly different from old contexts.
Strong leaders know that their leadership style must be situational – that they must lead in a way that meets the needs of the organization and its people in order to expedite business results.
“A leader who wants to keep the top team in place without considering context may be risking too much.”
A CEO can inherit a range of organizational challenges. He might be tasked with a complete turn-round. Or, she might inherit an organization that simply needs to be continuously improved or made more innovative. These two scenarios require very different leadership styles.
While a turnaround might require a heavy handed, highly decisive leadership approach for some time, a continuous improvement assignment likely requires a leader who can encourage and reward innovation with a more enabling approach to leadership. A leader who mistakenly assumes the helm and pushes for sweeping change before winning over the hearts and minds of the people may create unnecessary noise.
The quantity and pace of change required should be the key driver of the style needed – not personal preference.
Failure to assess the leadership team is also a risk. A leader who wants to keep the top team in place without considering context may be risking too much. Similarly, a CEO who comes in and moves most of the seated team out and brings in his or her “own people” may risk alienating leaders the next several layers down.
To avoid failure, don’t come in with a preconception. Instead, assess the talent on the team and gauge the morale to make strategic decisions from there.
They key is to do a thoughtful assessment of your talent and make changes that are strategic, not reactionary.
Too often CEOs lead in the way that served them in their last roles. The likelihood that this style is precisely right in a different organization with a different team and a different charter is low.
As always, a thoughtful assessment of the charter, the team, and the broader organization will guide the CEO to the style that is required to take the organization from where it is to where it needs to be.
If new CEOs take the time to strategically assess and adapt within the new context, the chances of failure in a new role dramatically decline.
Chief Executive Group exists to improve the performance of U.S. CEOs, senior executives and public-company directors, helping you grow your companies, build your communities and strengthen society. Learn more at chiefexecutivegroup.com.
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
