Getting the keys to the C-suite
Business tycoon and PLDT Chair Manuel V. Pangilinan famously said recently that his choice for the next PLDT Chief Executive Officer, “…has to be ready to die for the job, give up his family … Work over family. Period. If I could see that in that person, you’re it. You know, there is always a price you pay for the life you choose”.
While many raised eyebrows over this statement, not a few nodded in agreement, saying the job of a CEO requires mental, physical, spiritual and emotional fortitude—the stamina of a bull but with a grace and glamour of a peacock.
The vision, strategies, personalities, and management style of a CEO and his senior executives in the C-Suite (that rare breed with “Chief” in their titles) are to say the least very intriguing topics in management circles. What makes them tick? What keeps them awake at night? What are their management principles? Do they maintain “other” lives separate from their business roles? What does it take to become part of this select group that sits at that proverbial corner office?
To answer these questions, I undertook an informal survey of executive search firms I have known and interacted with in my more than two decades of working with local and international firms and multilateral financial institutions. I wanted to find out what are the qualities they look for in senior executives.
Executive search consultants have excellent eyes for diamonds and diamonds in the rough—constantly assessing executives’ skills, tracking them over time and placing them in select job posts. Thus, they are perfect sources of information on what skills are required of potential occupants of the most coveted real estate—the C-Suite.
And here are some of C-level skills they look for:
Leadership skills. This is not a surprise given that leadership skills are indispensable but executive search consultants have a different take on the types of leaders they are looking for. Some mention “enlightened and inspirational leadership”, “transformational leadership”, “situational leadership”, and “strategic leadership”. Others argue leadership is dependent on the needs of the organization—visionary leadership is required for firms starting in a new direction or those course-correcting towards a new strategy or those standing at the precipice of a major business decision. On the other hand, ethical leadership is required by those dealing with business integrity issues that have already impacted their license to operate and are beginning to recover from such a debacle.
Strategic acumen. Strategic out-of-the-box thinking ability, purposive vision, with expertise in planning and foresight thinking rather than just being a tactical expert, have become necessary. Search consultants look at how C-level executives manage medium and long-term planning and execution. One consultant goes further by looking at how candidates think and plan for crisis situations impacting business continuity.
Tech proficiency. Deep knowledge of a business, industry, or program of action is also cited as an important skill C-level executives must have. While familiarity and general understanding may suffice for some, the majority of the search consultants demand technical expertise on top of management abilities. Given the increasing and expanding contribution of technology in business, C-level executives are increasingly being required to have full understanding of how technology impacts company systems.
Team-building skills. While conventional notion dictates that most C-level executives are strong-willed dictators brimming under a “star” culture, these are no longer the staple of modern management. Search consultants look for team-builders—those with the exceptional ability to create and manage working teams that deliver results. An eye for top talent is another trait C-level executives must have. Being able to create and harness teams with various expertise to accomplish cross-functional projects that directly impact business objectives is key to being successful in the C-Suite.
Lateral management approach. C-level executives need to show they can accomplish projects working with, through, and across all levels—many of which they may not have direct authority over—especially with flat or matrix organizations. Being successful in managing teams and business units while also influencing peers and expanding support across layers is yet another important skill.
Limiting success, however, is the super-competitive nature of some senior executives; hence a collaborative approach is vital.
Communication savvy. Powerful communicators with excellent persuasion and presentation skills are most likely to get ahead. Being able to confidently speak before internal and external stakeholders; convince those for or against, even the skeptics, to rally behind company goals; and present good and bad news without antagonizing people have become tall orders for those wanting to join or to stay in the C-Suite. Communication expertise has become imperative in today’s environment of heightened consumer vigilance, tougher government regulations, crusading media personalities and demanding shareholders.
Innovative mindset and change management aptitude. With the constant flux in operational and management systems requiring nimbleness among corporate executives, C-level executives are being demanded to have an innovative mindset and change-management skills. Hence, we hear people looking for change drivers and change champions with change agenda and transformational and innovative change initiatives.
Search executives look for C-level potentials who are driven by a continuous improvement mindset and are imbued by desire to build upgrades and better systems; expand commercial interests; increase market share and improve brand and reputation locally and internationally; and continuously mentor future leaders in the organization.
In today’s fast-paced business environment, innovative executives do not and cannot just move the needle by single digit changes but are more required to implement game-changing almost disruptive innovations.
Passion for integrity and ethical practices. With more enterprises following strict governance protocols, search executives look for C-level executives that do not have integrity cases or issues in current and past roles. Executives with an unblemished reputation and incontrovertible ethical records are preferred.
Given the democratization of communication channels and relative ease of information access, vigilant stakeholders can easily make public bad corporate practices of the past. Hence, a thorough investigation of previous and current engagements is a must for search consultants looking for senior executives.
Executive presence. Going beyond a bookish handshake and expensive corporate attire, executive presence and poise are also being considered by search consultants. Projecting self-confidence; being able to manage difficult situations and problems; and overcoming unpredictable scenarios are just some of the factors being considered by consultants in search of a good fit.—CONTRIBUTED
