By Guest Author Taryn Oesch, Managing Editor, Digital Content, “Training Industry”
Reaching the top of an organization doesn’t necessarily mean someone is prepared and skilled for the job. Executives may not be ready for the high-level strategic leadership required to be a member of the C-suite or a vice president — which is where executive development programs come in. In fact, research by Training Industry has found that providing training to senior leaders has, in the executives’ own opinion, a significant impact on their ability and desire to lead.
What do learning and development leaders need to know about executive leadership and the training required for senior leaders to be successful? Here’s an overview.
What do learning and development leaders need to know about executive leadership and the training required for senior leaders to be successful? Here’s an overview.
The Changing Nature of Executive Leadership
“The business landscape has been impacted by issues like digital transformation, political changes, the intergenerational workplace, gender roles and economic shifts — and that’s only to name a few,” says Joe Britto, mindset and management consultant at Outback Team Building & Training.
As a result, the demands on executive leaders have shifted. Katherine LaVelle, managing director of Accenture Strategy, says, “Pressures are compounding on the C-suite like never before. Leaders across all industries and geographies are being challenged to solve complex business problems in new ways, with different constituents, at a new pace and scale, and with bigger consequences than ever before for getting it wrong.”
In response to these changes, a recent Accenture report shares, executives must develop a “whole-brain” approach to leadership. LaVelle, one of the authors of the report, says whole-brain leadership means “a combined focus on what we have traditionally thought of as ‘left’ (scientific) brain skills — such as critical reasoning, decision-making and results-orientation — with ‘right’ (creative) brain skills — such as empathy, innovation and intuition.” The research found that organizations whose C-suite used this type of leadership “yield better financial outcomes than those that don’t,” she adds, including 22% higher revenue growth and 34% higher profitability growth. Fortunately, over half of the organizations Accenture surveyed are working on reskilling their C-suite.
In addition, according to executive coach Michael Toebe, with social media (and traditional media) as well as employees putting senior leaders’ communication, behavior and decision-making under more scrutiny than ever before, executives must “consider, plan for and respond with poise and wisdom.” As a result, critical skills for executive leaders include emotional intelligence, problem-solving, assertiveness, overcoming blind spots, crisis communications and crisis management, and understanding risk.
As a result, the demands on executive leaders have shifted. Katherine LaVelle, managing director of Accenture Strategy, says, “Pressures are compounding on the C-suite like never before. Leaders across all industries and geographies are being challenged to solve complex business problems in new ways, with different constituents, at a new pace and scale, and with bigger consequences than ever before for getting it wrong.”
In response to these changes, a recent Accenture report shares, executives must develop a “whole-brain” approach to leadership. LaVelle, one of the authors of the report, says whole-brain leadership means “a combined focus on what we have traditionally thought of as ‘left’ (scientific) brain skills — such as critical reasoning, decision-making and results-orientation — with ‘right’ (creative) brain skills — such as empathy, innovation and intuition.” The research found that organizations whose C-suite used this type of leadership “yield better financial outcomes than those that don’t,” she adds, including 22% higher revenue growth and 34% higher profitability growth. Fortunately, over half of the organizations Accenture surveyed are working on reskilling their C-suite.
In addition, according to executive coach Michael Toebe, with social media (and traditional media) as well as employees putting senior leaders’ communication, behavior and decision-making under more scrutiny than ever before, executives must “consider, plan for and respond with poise and wisdom.” As a result, critical skills for executive leaders include emotional intelligence, problem-solving, assertiveness, overcoming blind spots, crisis communications and crisis management, and understanding risk.