Leadership has never been more important than it is now, as businesses face new challenges in a rapidly changing world. Business owners and boards of directors are looking for strong CEOs, but how can they find them?
According to one study, CEOs hired from outside a company perform worse on average than those promoted from within the company. The familiarity and alignment with the company’s culture and growth processes are a benefit of grooming a CEO in-house, but today’s demands and disruptions necessitate special leadership qualities that must be honed and observed at every step up the corporate ladder.
Growing and producing C-suite leaders, especially CEOs, from within can put company owners and boards of directors ahead of the game. Targeting that potential early on, providing the necessary experiences, and encouraging professional development results in a CEO who can seamlessly transition to the company’s most difficult role.
Emotional intelligence, authenticity, communication, and empathy are all-important soft skills for today’s CEO. They must figure out how to expand the company, be strategic, and align the business with the mission.
Here are some pointers for business owners on how to groom a CEO from within:
Put them in various roles to test them
One way to identify and develop high-potential leaders with the potential to become CEOs is to give them difficult assignments in various jobs with minimal support. Those who consistently produce good results gain confidence and valuable experience.
Any young person who aspires to be a leader must be willing to do any job that a leader may ask someone to do. There should be no job that is beneath you. Examine what you can learn, such as how different jobs operate, how to solve problems, and what other people in the area are going through. As a result, when someone who has taken that path becomes CEO, they will be able to communicate with anyone at any level and will have credibility as a leader. They have the ability to connect with all employees.
Give emerging leaders a lot of power
Because the CEO is in charge, it’s critical for the company to give top managers who are CEO candidates broad decision-making authority on their way up to that position. Make opportunities for your leaders to be in charge of budgets, strategy, and personnel. You want to produce decisive leaders. Encourage them to think like CEOs, focusing on metrics and creating value.
Look for tenacity
Climbing the corporate ladder almost always involves some setbacks, so owners or board members looking for strong leadership should look for people who have demonstrated resilience – the ability to bounce back quickly from setbacks. When you’re the CEO and things are tough, everyone in the company is watching your body language and attitude to see how you react. When the big rock needs to be pushed up a steep hill, it’s part of your job as CEO to be upbeat, courageous, and forward-thinking.
See if they can cause a shift in the flow of things
In today’s ever-changing world, CEOs must not only be able to handle disruption but also be able to use it to propel their company forward. This “bold, purposeful, personal and business strategy to create opportunities and kindle successes while counteracting the inevitable disruptions wrought by external forces in volatile times,” as I define it, is “a bold, purposeful, personal and business strategy to create opportunities and kindle successes while counteracting the inevitable disruptions wrought by external forces in volatile times.”
Leaders who are proactive rather than reactive are the most effective positive disruptors. Going on the offensive and letting the problem drag your company down is what intentional disruption entails. Top executives must develop skills and tools to counter forces that threaten their businesses and future leadership opportunities.
The road to becoming a CEO is not paved with victories in a straight line. It comes from a lifetime of good and bad experiences that broaden knowledge, focus, and strengthen the conviction of a well-developed leader who has earned everyone’s trust.
Learn more from business and read How Do You Choose the Best SEO Agency for Your Company?
