What CEOs are looking for in 2024?
If you know it, you can prepare yourself for even better performance to rightly align your efforts.
Many international reports, consultancy firms are now turning towards the question that ‘what is most important’. The brimming coaching industry tells us that CEOs and C-level executives now giving importance to be more humanistic. Values, principles, friends and families are now acknowledged, more than chasing numbers at the cost of these essentials.
Globally CEOs now understand the importance of time spent with families.
With fast pace innovations, revivals and rejuvenation of old systems into new, the work of the CEO is now more demanding, and challenging. Agility with the brisk of resilience and endurance are key personal characteristics, which are needed to keep the pace with all socio economic effects on businesses.
We now live in a world which has experience a new normal to a normal mixture with developments in political scenarios impacting business decisions. 2023 has shown real effects of 2019 pandemic turbulence in form of shuffled supply chains, massive disorder in recoveries and economical inflation.
Dealing with everything, need a lot of nerve, patience plus moral and emotion support. A continuous supply of dopamine and adrenaline, I am phrase on a lighter note. These vitamins could be best received from family and friends. Have these as a pat on the back, the CEOs manage to work smart and efficient and honor all stakeholders with right returns.
Let us explore some of the points we accumulate after speaking to CEOs what are the most key areas they are looking for action steps.
1. Finding full support of AI for Quick Decision Making:
Competitors now not only rely on market insights to take quicker and relevant decision. The emergence of AI has good food for those who are eager to be catch their competition and lead the market. Specially when they are among followers.
Business activities are speeding up, gathering insights have become easier and actionable. CEOs with right leadership approach and growth mindset, convey their managers and teams to be radical in testing, approving, correcting, implementing actions in markets.
CEO with their teams, evaluate these metrices and take actions;
• What will be the benefit in numbers and brand health
• How to get ripple effects on sales and systems after applying technology
• How can their company become with ‘first’ in setting new trend in the market
2. Race with Technology, or harness it well:
Competition is valid for every company. Staying number one is one focus, but staying relevant is another. Outcompeting every other player now is highly driven by companies’ agility and ability towards deploying technology in all functions.
3. Find your super power and be a super hero:
Find your superpowers. Managers are upskilling themselves to differentiate from other professionals not only by knowing what they are suppose to do in particular managerial function, but transforming themselves into a leader. Leader is another definition and is completely different from a manager. Leader shows responsibility and enable the team to feel the same. It comprises many aspects of empathy yet being diligent in work and ethics.
Raise the bar of excellence. Outperform your own counterparts as well as who else is working in the industry. Position yourself with unique capacity and authenticity. This means you need to invest in your continuous growth, learning and practicing. All this with focused mind and emotional stability.
Do not mix it with running without direction, unclarity and unethically. That is why C-levels always hire coaches to keep them on right track and be their accountability partners on demand.
4. Loving middle managers:
Appreciation for CEOs by board members and directors, encourage them to also look after and appreciate their middle managers. This is another way of good delegation. But delegation is not limited to meticulous explanation to what is expected, but also embodying the loyalty towards the outcome and its beneficial effects on everyone in the team.
Charged, determined and smart managers’ teams can really introduce rapidity in the company as a whole by enabling team members to multiply all action in place. As well as in market and with customers.
5. Coaching teams for courageous growth:
Now we need rapid fire rounds of continuous growth. Increase sales figures, acquire more customers, find new markets, add up more slice to the pizza of market share, with all this keeping a happy, performing, innovative culture in the organization.
In today’s date, growth is not only the responsibility of the CEO. As an outperforming manager who is a hidden gem and is a leader, has to comply with CEO’s vision and mission. Achieve his targets with him. Address market and customer issues. Simplify organization processes. Introduce better and time saving systems. Bring cost down by encouraging better from the team.
We hope this article will help managers to transform themselves into leaders. Who can be 2nd in command to the CEO. Get appraisal and join the C-suite enclave soon. Best wishes for 2024.