What Keeps CEO’s Up at Night?
Chief Executives (CEO) leading a company forward in today’s corporate landscape requires constant multitasking, delegating, and strategizing. Between email, meetings, and conference calls, there’s rarely, if ever, a moment of downtime during office hours for people in CEO positions. When the business day ends and the email alerts slow down a bit, however, the best leaders are still assessing, evaluating, and yes, worrying.
At Moorlands Human Capital, we have been connecting our clients with top talent executive level talent since 2011. During that time, we’ve learned the concerns that keep CEOs up at night are not that different across industries. In fact, regardless of whether you head a multi-million-dollar retailer or a charity organization, there’s a good chance the following six topics have interrupted your sleep.
Finding and hiring the right talent at all levels is important. Perhaps more essential than having the right people, however, is having them in the right roles. The right person in the wrong job is a drain on company resources and can have a negative impact on employee satisfaction.
What about when it is time for executives to move on? You are not the only one worrying about whether or not you have adequate succession plans in place. Ensure others know what is going to happen. If other stakeholders don’t know the plans, it can spell trouble and uncertainty even with adequate succession planning.
For some companies, diversity happens organically. If your business reflects the diversity of your customers, employees, and shareholders, consider yourself lucky. For most corporations, achieving diversity requires deliberate, intentional steps.
A diverse company benefits from multiple perspectives. When your executive level employees are reflective of your customers, your team is more likely to be in tune with consumer trends, wants, and frustrations.
As a CEO, you know your corporate culture has the power to make or break the company. Your company’s core values and mission should be visible in the actions of employees as well as your business strategies. If you talk the talk but don’t walk the walk at all levels, you risk losing the trust of all stakeholders.
A quick way to check on the climate of your company culture is to check in with employees. If it’s clear your employees do not want to come to work, you have a problem. You need to know, is your business a good place to work?
The only constant is change. With the rapid rate of technological advancements, no one could keep track of every new update or innovation. This is liable to make you lay awake at night, wondering.
Do you have a sense of what lies ahead, just beyond the horizon in your industry? What is the next big game changer about to explode onto the market? Are you at the leading edge or trailing behind? Nobody wants to fall to the back of the pack. Getting blindsided can have devastating results, so it is no wonder many C-Level Executives worry about upcoming disruptions.
If you are not growing, you’re stagnant. But are you growing at the right rate for your business? What is the next move that will inspire and encourage further growth? Depending on your industry, the economic and political trading environments can have a massive impact on your ability grow. It’s important to differentiate your company from your competitors at all times, but in a highly saturated market, it is crucial.
If your company growth has reached a plateau and you are wondering where you go from here, there are a few things you can do to gain momentum again. Bringing in fresh voices and new perspectives may help get things moving along. You may also want to consider doing a survey of the industry. See where you are leading and where your competitors might have an edge. Knowledge is the power that fuels change.
A lot of the concerns CEOs have about regulation are similar to those about disruption. Where disruption results from change due to innovations and advancements in the industry, however, regulation comes from the outside. As a result, it can be harder to know what it is on the horizon.
It is easy to wonder whether or not your company is doing the right things. Especially if you are in a rapidly changing field where regulations can often be outdated or a few steps behind. Staying on top of potential regulation changes and having processes in place to periodically audit your own compliance internally can help you rest well.
Here at Moorlands Human Capital, we do more than just help clients find the best Chief Executive and CEO talent for their company. Our Leadership Consulting service is designed for CEOs who are up late worrying about these six concerns and more. From Executive Coaching to Succession Planning, we can help you succeed as a leader in today’s dynamic business world. For more information, contact us today.