Based on a data set of over 17,000 leadership assessments this research has uncovered 4 key behaviours that allow ordinary people to become outstanding CEOs.
There are definitely false assumptions as to what makes a good CEO with most being around someone who is an outgoing extroverted leader. This research disagrees with this assumption in favour of the following 4 key leadership behaviours:
1. Make quick decisions
Business moves fast and so taking time to analyse and reflect may not be the right approach particularly if your business is underperforming and in threat of financial failure. Sometimes making a bad decision is better than not making a decision at all.
2. Get people to buy into your idea
Successful CEO's rarely do it on their own. They need a team to passionately deliver their ideas and dreams (if not be helped to innovate and identify new ideas or improvements) and so engaging the organisation is a critical behaviour and gift that is needed.
3. Deliver consistent results
Providing a reliable and stable environment is really important for most stakeholders of an organisation. Most of us like to know what to expect whether it be financial, people or product related. A CEO who stakeholders can trust and be assured will deliver consistent results year after year is worth their weight in gold.
4. Adapt to the circumstances
We are currently hearing about a lot of struggling retailers in the UK, most of which have been slow to change or react to their market dynamics. Understanding future industry dynamics and taking decisive action ahead of time is critical to success. Resting on the laurels of being a great business has seen many disappear. These include Kodak and Blockbuster Video.
CEO's come in all sorts of different shapes and sizes but the 4 traits above should be part of your recruitment assessment.
Here is another great article that we have written about CEO's https://www.collingwoodsearch.co.uk/our-insights/board-insights/ceo-vision-and-strategy-leaders-as-decision-architects/
If you think all CEOs are Ivy League educated individuals who set their eyes on the C-suite at a young age, you're mistaken. According to Elena Botelho and Kim Powell, authors of the book " The CEO Next Door ," "Even the most impressive CEOs often didn't start out knowing they were destined for greatness." However, many of us believe the stereotype that an "iconic CEO is powerful and patrician, a bold, charismatic extrovert with a flawless resume," write the researchers. This makes us falsely assume that we are not "CEO material." To the contrary, ordinary people can also become CEOs, note the authors, as long as they have the necessary traits. To uncover these traits, Botelho and Powell turned to a dataset of 17,000 leadership assessments from the research firm ghSMART.