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My advice to Chief Executive Officers

Editorial Team
08/11/2019 1:04 PM

Every person charged with running
an organsiation carries an enormous task on half of the key stakeholders.
Others take this role as a way to enrich themselves personally while others
take this role as an opportunity to do well for the benefit of society. At the
core of leading an organsiation are the people. Without a strategy of leading
the people that work for you regardless of the size of your organisation any
success you may enjoy is likely to be short-lived.  Here are the issues that every CEO must
reflect on:

  1. Hire
    the best people available

    – regardless of the pressure from anyone, the best favour you can do for
    yourself, as a CEO is to hire the best people. Talent is what formulate and
    drive sustainable strategy. Any company short of quality thinking will
    struggle. “If you want Singapore to succeed…you must have a system that enables
    the best man and the most suitable to go into the job that needs them…” This
    what Singapore’s first prime minister, Lee Kuan Yew said. He was right;
    countries that recruit and select people on merit to fill in public service
    positions tend to do well economically. 
    The same principles apply to private organizations. Get the best people
    for the job and never compromise on who joins the organsiation.
  2. Pay
    people differently

    – Pay your top performers far much more than your average performer. Do not
    underpay your top performers in the name of equity or some policy. Good
    performers give more when there is a big difference between them and average
    performers. Every benefit an employee gets must be a reflection of their value,
    nothing else.
  3. Empower
    your top team

    If you have good people in your executive team things move. Empower them to
    make decisions within policy and only consult you on big issues that require
    CEO or Board approval. The challenge in practice is that most of the people who
    have the title “executive” have no decision making power. Such an arrangement
    retards progress.  Good CEOs share power
    with their executive team. However, this should only be done when the executive
    team is competent.
  4. Humility
    – Be kind and
    tough on results. There is no need to harass your team including other levels
    of employees. You can be extremely tough on results with a very kind heart.
    Remember the exit from the CEO role is not always smooth. You will need your
    subordinates for support one day.
  5. Performance
    is everything

    Cultivate a high-performance culture throughout the organisation. Be tough on
    performance targets. Remember all targets must be agreed between the managers
    and those they manage. Do not allow a situation where targets are dictated no
    matter how powerful you.
  6. Know
    – When its time up

    - You must decide when you want to exit the organsiation at the beginning of
    your tenure. Do not wait to be pushed. Even when performance is good, it is
    better to leave at the height of good performance. Do not be persuaded to stay.
  7. Succession
    – Have a
    succession plan in place. Identify at least 3 to 4 people who can take over
    from you. Prepare all the candidates for the role. When the time comes, the job
    must go to the best person among your chosen successors.
  8. Leave
    a good legacy
    what are the people going to remember you for? Is it going to be performance or
    greedy and plunder of company resources? CEO roles wield so much power. Some
    incumbents are tempted to abuse this power for personal gain. Always make a
    distinction between company resources and your own. Never take more than what
    is provided for in your employment contract. It will catch up with you and
    normally it does not end well.
  9. Build
    a sustainable Culture

    – If you build a good culture, half your job is done. Culture is the engine of
    sustainable company performance.  Invest
    time and resources in building the right culture for your organisation.

This list is not exhausted, but I
see these as the major issues CEO must deal with in order to build successful

Memory Nguwi is an Occupational
Psychologist, Data Scientist, Speaker, & Managing Consultant- Industrial
Psychology Consultants (Pvt) Ltd a management and human resources consulting
firm. https://www.linkedin.com/in/memorynguwi/ Phone +263 4
481946-48/481950/2900276/2900966 or cell number +263 77 2356 361 or email: mnguwi@ipcconsultants.com  or visit our website at www.ipcconsultants.com

Editorial Team

This article was written by one of the consultants at IPC

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