The latest iteration of the Harvard Business Review’s list of the 100 best-performing CEOs in the world, published in HBR Magazine’s November 2015 issue, incorporated some new elements. This led to a dramatic shakeup, causing some CEOs’ rankings to plummet and others to skyrocket.
What kind of legacy will you leave behind?
For many, board service is the pinnacle of their career – a reward of sorts for a job well done. Regrettably, few board directors think about the day they retire, let alone their legacy in the boardroom.
The idea of legacy is a deeply powerful way to align one’s current board service to the company’s long term objectives. Asking “what do I want to leave behind?” rather than “what do I need to do to comply?” expands our thinking about board succession. It offers a concrete sense of purpose in choosing how to plan for your succession and who to elect to succeed you.
What will you leave behind? A guide to creating your legacy in the boardroom will take you through creating a board succession plan that looks to the future instead of maintaining the status quo. Click here to download.
There are a whole host of factors involved in the executive search and recruitment process. Some are relevant across the board, such as solid references, a good reputation and leadership skills, while others are more specific – for instance, expertise in a particular field. This equation is further complicated by the fact that every company comes with its own unique set of needs, and an executive with a high likelihood of thriving at one enterprise has the potential to crash and burn at another. That being said, in spite of the vast number of variables at play, it is still possible to make some generalized assertions to help streamline and optimize the executive recruiting process.
Family-owned businesses are known for many things, but spanning generations isn’t necessarily one of them. In fact, a recently released EY Global report noted that the majority of family businesses fail to stay operational for more than one or two generations before closing their doors for good, although there are some that beat the odds. (more…)
In part one, we introduced the idea that although grade schools and postsecondary educational institutions are instrumental in equipping students with the tools they need to succeed in the workforce, some lessons can’t be taught in the classroom. Instead, they are learned on the job – or, as leadership coach and advisor Roy Osing phrased it, “in the trenches.”
Grade schools and postsecondary educational institutions play an important role in preparing people to go out and succeed in the “real world.” Such an assertion is virtually indisputable – but no matter the industry students join when they leave school and enter the working world, they’ll probably realize there are some things that simply can’t be taught in the classroom. Rather, these aspects must be learned in the field and on the job. (more…)
Over the past decade or so, social networking has revolutionized how society communicates. It seems as if almost everyone has a social media presence these days, from friends and family to celebrities and even CEOs of well-known companies. (more…)
Changes in the C-suite can have a profound effect on an entire organization, regardless of the industry in which the enterprise operates. If the right selections are made, the overall impact will be positive, but the wrong choices may result in negative fallout. It could be said that the stakes are especially high for organizations in the health sector – after all, for these enterprises, the term “life or death” isn’t just a figure of speech. (more…)
Some private equity firms make investments that span a variety of industries, while others may focus on one specific sector. Each sector has its own defined expansion and contraction periods, and a CEO who excels at managing their companies during one phase of the cycle may not be the best person for the job in a different cycle. (more…)
The recent plunge in commodity prices has made business planning a challenge for leaders of oil and gas companies who are unsure what the future holds. At times like these, companies often look to the executive search industry for guidance, so it came as no surprise when a number of our clients approached us with questions about market trends in this age of uncertainty. (more…)
As we acknowledged in part one, corporate leaders with positive reputations enjoy numerous professional benefits as a result. Specifically, they are likely to stand out among the crowd to management recruiters and executive search consultants, and they often earn the favor of the public. A recent survey by public relations firm Weber Shandwick polled 1,700 senior executives who represented 19 countries to identify eight qualities that contribute to a positive CEO reputation. The first four, which were examined in detail in part one, are as follows: (more…)
A corporate leader with a positive professional reputation enjoys a whole host of advantages, from getting a boost during the executive search and recruitment process to currying favor with the public once he or she is appointed to a leadership position within a company. But what exactly does it take for a CEO to establish a stellar reputation?
Oil prices experienced a well-publicized decline in the second half of 2014 due to a combination of rising supply and decreased demand. The trend has continued through this year, which created significant volatility in the oil market that isn’t likely to dissipate any time soon.
Strong senior leadership is an imperative part of a successful company, as C-level executives play a major role in shaping their firm’s strategic vision. Companies determined to find the right executive leaders would be wise to explore the unique value found in an executive search partnership. (more…)
With the boomer generation transitioning into retirement, 40 percent of leaders currently at the helm of family-owned companies will retire in the next five years, according to a statistic cited by the National Association of Corporate Directors as part of its Director’s Handbook Series. With four in 10 heads of such firms set to step down, it is all the more important to strengthen corporate boards. (more…)
Caldwell Partners recently analyzed the boards of 1,000 publicly held companies in the United States and Canada, yielding a result that surprised many. It turns out that despite the ever-increasing role of technology in corporate operations, few enterprises are acknowledging that standing technology committees and dedicated experts are not so much a luxury as a necessity of leadership in the modern age. After all, it is not a matter of if a company will face a cyber threat or major technological issue but when. (more…)
At Caldwell Partners, we are on the lookout for the cream of the crop, and they deploy a diverse range of tactics to ensure the shortlist of candidates they put together is an optimal fit with a company's needs.
A little tension cropping up in the C-suite from time to time is unavoidable – especially in light of a Harvard Business School study that found CEOs had twice as many direct reports in 2013 as they did in the 1980s. In general, it could be said that the potential for conflict in the C-suite rises in proportion to the number of senior managers present. So, when disagreements erupt, what are CEOs to do?
Although every firm in virtually any industry is vulnerable to risk in some shape or form, many organizations don’t have the necessary frameworks in place to identify, manage and mitigate its effects.
Help your company expect the unexpected. (more…)
In part one, we explored the idea that emotional intelligence – also known as EQ – often takes a back seat to industry expertise, background and skill set when it comes to executive search and recruitment. However, firms that fail to prioritize EQ are putting themselves at a disadvantage, as leaders who exhibit the five EQ tenets (self-awareness, self-regulation, motivation, empathy and social skill) tend to be more successful than their less emotionally intelligent counterparts.
Companies tend to make executive recruiting decisions based on aspects such as a candidate’s industry experience, background and skill set – but how much attention do they pay to another important attribute, emotional intelligence? (more…)
In part one, we examined the phenomenon of “wikification,” in which companies break away from the traditional top-down leadership dynamic and embrace a more egalitarian approach involving what MIT Sloan Management Review contributor Leslie Brokaw described as “managing without managers.” While some enterprises are wholeheartedly embracing egalitarian principles, others are sticking to the model of executive authority – and others still are trying to meet in the middle in a bid to empower employees while still retaining a framework in which senior management leads from the top. (more…)
Everyone is familiar with the traditional structure of top-down leadership: The executives who compose the C-suite make decisions about the company’s trajectory, create (or at least sign off on) its policies and offer guidance to non-senior management teams, to name but a few of their duties. Below them are the aforementioned non-senior managers, of whom there are likely several layers that constitute middle management, and underneath this group are the workers themselves. (more…)
Look before you leap: The importance of conducting in-depth due diligence before accepting a board seat
Much has been written about how prospective directors should position themselves to land their first board position. In our experience, however, too many director candidates are so focused on getting on a board that they neglect to conduct even a modest amount of research about the board opportunities at hand. (more…)
In part one, we took a look at the slump that the oil industry is currently experiencing. Although the prevailing opinion among those in the field seems to be akin to “Batten down the hatches and wait for this to blow over,” R. Todd Bennett of Caldwell Partners’ Dallas office argued that leaders should use the situation as a chance to make management changes, consolidate their companies and streamline corporate operations. (more…)