A CEO’s integration in a new role is a crucial challenge, a key pre-requisite for longer-term success. Way too many CEOs have failed, with other CEOs succeeding only with far greater effort than they would have needed.
Most companies have huge room for improvement, in supporting the process and creating the conditions for a fertile integration. Yet, rather than focusing on what companies can do, I want to focus, briefly, on a few key things a CEO in a new role could do in order to maximise chances for a successful integration as well as increased personal fulfilment and satisfaction (most likely, also that of their shareholders over time).
Possibly even before accepting a new role, in any case very early on after accepting, a new CEO will want to do the following:
- Identify key relevant stakeholders: so many times would CEOs
succeed if they managed to identify key stakeholders in their new role. We need and want to map all relevant influencers that impact on the CEO’s chances for success significantly. Normally, this will range between ten and twenty people. Examples would include the Chair, most if not all board members, a few senior executives as well as some external constituents such as key shareholders. The CEO will need to map them carefully, in order to focus their efforts effectively and efficiently;
- Connect with them, listen to their spoken and unspoken messages and prioritise them: connecting with relevant stakeholders helps the new CEO identify all key challenges of the new role. Listening to their spoken and unspoken messages will require shifting the focus from the usual, overwhelming attention to short-term, “harder” results to the longer-term, softer interpersonal skills, a crucial component of leadership. In addition, connecting wisely requires us to be able to listen to our counterpart, leaving proper room for them to express their needs and feeling. I have separately written about my view that our ability to listen can be practised and trained but it requires time, effort and willingness. Not least, we are exposed to the risk of making significant mistakes. If CEOs manage to listen carefully to key stakeholders, they will also lay the foundation for successful and rewarding mentoring, for peer & board support, as well as for effective networking & introductions of relevant people. Building a fruitful relationship with relevant stakeholders will be the crucial gate towards a successful integration;
- Define their own success, agree on a roadmap involving them as necessary and follow up: the final, easier element, once the above steps are well under way will be for the CEO to build a fuller, more effective “definition of success” which will include how the CEO sees own success over time, also on the basis of how stakeholders have interacted with them. That definition of success will be the result of such questions as: “In order for you to consider me successful in 12 months, what would you like to happen?”. Once this is clearly stated and in place, the CEO will need to seek for regular feedback from the very same stakeholders overtime, minimising the risk of negative surprises happening.
By connecting with key stakeholders and receiving feedback early on, the new CEO is fully prepared to align to an effective definition of success and start shaping the company’s dynamics successfully.
We will easily find out that for a CEO to build their own success over time the key is effective use of interpersonal skills, as well as cultivating and building fruitful relationships with a combination of leveraging on existing trust, the ability to listen to others, and finally, but most importantly, the ability of listening to ourselves and to whom makes us happy.