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Two Very Bad Habits CEOs Must Break In 2020

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It’s the time of year where CEOs consider the year ahead and resolve how they’ll best spend their time in 2020. While you’re at it, consider what not to do: isolate and insulate.

For many of our clients, taking on the CEO role is a career first, and while all are incredibly talented seasoned leaders, we often hear, “I didn’t know what I didn’t know” when they initially took the job. 

What didn’t they know? Here’s a short list of what they share.

  • I didn’t realize how little trust actually exists across my executive team.
  • I wasn’t fully aware of the level of resistance the board had around a particular company initiative.
  • I didn’t anticipate the cultural legacy (and baggage) I was inheriting from the previous CEO.
  • I didn’t know how difficult it would be to lead this company as an external hire.
  • I wasn’t really told how far behind we were in a certain part of our business.
  • I didn’t realize how little time I’d have to spend internally.
  •  I didn’t recognize how quickly I would be expected to share my vision and strategy.
  • I didn’t appreciate exactly how closely my employees would listen to everything I say.

Experienced leaders know that having a list of ‘unknown unknowns’ is part of what comes with the territory of stepping into a new job. The problem is in taking too long to identify what those areas are and trying to tackle them alone. This costs leaders valuable time and energy they can’t afford to lose, and the bigger risk is missing the mark in areas that are hard to recover from down the road.

Instead, Here’s What CEOs Can Do.

1. Don’t isolate.  CEOs have a much smaller peer group than the rest of us, so having a group of workplace confidantes where you can speak candidly can’t happen given the discretion required at this level. Add to the mix the fact that the job is incredibly demanding from Day 1, and it’s all too easy for CEOs to quickly get swept up in the day-to-day running of their companies and find themselves navigating too many tricky issues on their own.  

The solution? Upgrade your CEO inner circle: CEOs are expected to see around corners, so consider who should be part of your trusted group of advisors so you’re getting the right blend of voices from the inside and outside. Who belongs on this list? You’ll likely include key functional leaders (CFO, CHRO, GC), along with experienced external advisors (consultants, CEO coaches), industry leaders, plus your former CEO or other former colleagues. 

By the way, isolation can happen at any level. Leaders get busy, we hunker down, and we may not spend the time we need with key customers or other stakeholders. The message is the same. Don’t get so busy on the day-to-day aspects of the role that you wind up spending too much time alone.

2. Don’t insulate: Despite their best efforts, it’s far too easy for CEOs to find themselves insulated in the role and surrounded by people who want to please them. Their own direct reports may be reluctant to raise concerns or challenge their thinking. Well-intentioned teams present information that’s carefully packaged and polished, and problems don’t get surfaced early enough. CEOs also spend the majority of their time outside of their companies, creating more distance between them and what is happening on the ground, which is why tapping into your inner circle on a frequent basis is essential.

The solution? Find places where you can be unfiltered. There are very few settings where CEOs can speak in a completely candid and open way. Being always on, buttoned up, and in the spotlight takes tremendous energy. This is why all senior leaders need regular forums where they can think out loud, bounce ideas off a knowledgeable thought partner, and explore and test out ideas in a completely confidential, safe setting.

Breaking through insulation also means that CEOs must regularly seek out opportunities to maintain a first-hand, accurate pulse about what is really going on within their organization. To do that, CEOs should consider which forums allow them to see how the sausage gets made inside their own companies to get a better picture of how their own people operate, think, and perform. Whether it’s dropping in during employee meetings impromptu or speaking with customers, finding ways to get closer to the truth is an ongoing imperative. This process is also a personal one and should include self-evaluation on a regular basis, so a CEO’s leadership blind spots don’t become bigger issues that impact the company.

For CEOs, it can be lonely at the top, but perhaps even riskier, it can be a less informed place at the top. But it doesn’t have to be. Smart leaders know that there is plenty they don’t know, and as long as they don’t isolate or insulate, they’ll start – and stay – ahead of the game.

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