Strategic Actions for CEOs to Drive Long-Term Success
Dec 17, 2024 11:29AM ● By WNC Business
The challenges business owners and CEOs face are diverse and complex. Beyond setting the vision, mission, and strategic direction for an organization, they must also build an adaptable organization and results-driven teams that are empowered to bring this vision to life. Their leadership is vital in creating an environment where employees can flourish, customers are valued, and the business is able to grow. The following 10 action items can help business owners and CEOs better position their organizations for long-term success in an evolving marketplace.
1. Align Your Company’s Goals Across Teams
Conflicting priorities between departments can slow progress, so aligning goals across functions boosts cross-team collaboration and drives success. Consider this scenario of a company launching a new tech product. If the CTO defines success as being under budget, the CMO prioritizes retaining 10% more customers, and operations equates success with reducing turnaround time by 20% – what happens in the cross-functional meeting? Each leader may be prioritizing different wins, causing friction in the group and delays in the project. Conversely, with an aligned view of success, the teams can actively work together to prioritize key actions.
Conflicting priorities between departments can slow progress, so aligning goals across functions boosts cross-team collaboration and drives success. Consider this scenario of a company launching a new tech product. If the CTO defines success as being under budget, the CMO prioritizes retaining 10% more customers, and operations equates success with reducing turnaround time by 20% – what happens in the cross-functional meeting? Each leader may be prioritizing different wins, causing friction in the group and delays in the project. Conversely, with an aligned view of success, the teams can actively work together to prioritize key actions.
2. Ruthlessly Prioritize
Stay focused on the most impactful projects by regularly revisiting priorities. CEOs who maintain clarity throughout the year can more easily avoid distractions, ensuring resources are used effectively to meet long-term goals. Remember, this is not a once-a-year activity. If you add priorities throughout the year, you need to deprioritize others to help keep your teams focused. Remember to update team member goals to reflect the changing priorities.
Stay focused on the most impactful projects by regularly revisiting priorities. CEOs who maintain clarity throughout the year can more easily avoid distractions, ensuring resources are used effectively to meet long-term goals. Remember, this is not a once-a-year activity. If you add priorities throughout the year, you need to deprioritize others to help keep your teams focused. Remember to update team member goals to reflect the changing priorities.
3. Having Goals is Not Enough
While goals are essential, each employee also needs a personal development plan in order to grow. According to the Society for Human Resource Management, organizations prioritizing development have a 30% higher employee retention rate. This helps develop future leaders and create a robust succession plan.
While goals are essential, each employee also needs a personal development plan in order to grow. According to the Society for Human Resource Management, organizations prioritizing development have a 30% higher employee retention rate. This helps develop future leaders and create a robust succession plan.
4. Invest in Team Members From Day One
Strong onboarding helps new employees feel a deeper connection and contribute more, faster. A seamless onboarding process reduces turnover and enhances early performance, as new hires understand their role and can align with the company culture from the start.
Strong onboarding helps new employees feel a deeper connection and contribute more, faster. A seamless onboarding process reduces turnover and enhances early performance, as new hires understand their role and can align with the company culture from the start.
5. Stop thinking About Leadership as a One-time event
Leadership requires continuous development at every level. Ongoing support helps leaders excel in their role, enables them to coach their teams more effectively, and enhances their capabilities to work cross-functionally. This approach ensures that leaders can amplify their impact at multiple levels of the organization.
Leadership requires continuous development at every level. Ongoing support helps leaders excel in their role, enables them to coach their teams more effectively, and enhances their capabilities to work cross-functionally. This approach ensures that leaders can amplify their impact at multiple levels of the organization.
6. Realign Actions to Your Values
If your culture is faltering, reassess whether your actions reflect your values. Even small disconnects between intentions and behaviors can harm team morale. Realigning to core values creates a strong, cohesive culture and reinforces the fact that actions matter to your team.
If your culture is faltering, reassess whether your actions reflect your values. Even small disconnects between intentions and behaviors can harm team morale. Realigning to core values creates a strong, cohesive culture and reinforces the fact that actions matter to your team.
7. Build Teams Before Team Building
All too often, leaders try to solve roadblocks with team parties or off-site activities. Instead, set up working sessions with your teams to identify ways you can optimize processes, create clarity in ownership, and realign goals. When processes work smoothly, team building is no longer a temporary distraction, but rather, it enhances morale and serves its true purpose, celebrating shared wins.
All too often, leaders try to solve roadblocks with team parties or off-site activities. Instead, set up working sessions with your teams to identify ways you can optimize processes, create clarity in ownership, and realign goals. When processes work smoothly, team building is no longer a temporary distraction, but rather, it enhances morale and serves its true purpose, celebrating shared wins.
8. Optimize Communications
As the leader of the organization, effective communication starts with you. Are you sharing the right information in time for people to act on it? Do you use a variety of touchpoints to reach different audiences and reinforce key messages? Have you shared the “why” behind key goals and initiatives? Effective communication aligns teams with the company’s broader vision and helps accelerate growth.
As the leader of the organization, effective communication starts with you. Are you sharing the right information in time for people to act on it? Do you use a variety of touchpoints to reach different audiences and reinforce key messages? Have you shared the “why” behind key goals and initiatives? Effective communication aligns teams with the company’s broader vision and helps accelerate growth.
9. Get to Know Your Customers and Put Them First
Leaders often say they put customers first, but then have policies contradicting that statement. For example, do you claim the customer experience is a top priority, but then you also have a customer support goal to wrap up all calls within 30 seconds? Creating ways to stay connected to your customers and keep them at the center of your business helps you serve them better and build longer-term relationships that drive your growth.
Leaders often say they put customers first, but then have policies contradicting that statement. For example, do you claim the customer experience is a top priority, but then you also have a customer support goal to wrap up all calls within 30 seconds? Creating ways to stay connected to your customers and keep them at the center of your business helps you serve them better and build longer-term relationships that drive your growth.
10. Create Feedback Loops and Metrics
As a CEO, you need to measure what matters. You must be clear about your leading and lagging indicators and understand what drives your business growth. Being laser-focused on metrics helps you make informed decisions to drive your business, but it doesn’t end there. You must create feedback loops to avoid operating in a vacuum. Seeking feedback and building dialogue with your team and customers can help you create a 360-degree view of your business, allowing you to know how to prioritize and adjust as the year progresses.
As a CEO, you need to measure what matters. You must be clear about your leading and lagging indicators and understand what drives your business growth. Being laser-focused on metrics helps you make informed decisions to drive your business, but it doesn’t end there. You must create feedback loops to avoid operating in a vacuum. Seeking feedback and building dialogue with your team and customers can help you create a 360-degree view of your business, allowing you to know how to prioritize and adjust as the year progresses.
Tracy Eames is the CEO of TEAMES & CO, a boutique consulting firm in Asheville that helps organizations drive growth while fostering a culture of engagement and innovation to achieve lasting, quantifiable results. Learn more at TeamesAndCo.com.