To understand the DNA of a successful chief executive it pays to listen to a wide range of voices, and getting to the top today takes more than personal ambition. Headhunter Spencer Stuart’s Sally Elliott shares some observations for those keen to make the grade
One of the privileges of my job as a leadership advisor is hearing the career stories of retail chief executives at the top of their game.
I’m interested in how they started their journey, the pivotal moments that enabled them to progress, and what they have learned along the way.
We gather a great deal of information that informs our understanding of individual leaders, but the most valuable insights often come from the recommendations and ‘off the record’ views from people who have worked closely with them, including line managers, peers, direct reports, board members, investors, suppliers and even competitors.
If you are looking to develop your readiness for a top leadership position, here are some observations on how the most accomplished leaders think and act, together with a few words of advice.
From strategy to results
The best chief executives think strategically and have a steady flow of ideas to improve the business, even if these run counter to current ways of working. They study and anticipate the future direction of the industry and are prepared to make radical changes, as Simon Wolfson has done, pivoting Next away from stores and catalogue to become a product and platform business.
When Regis Schultz divested many non-core businesses to focus on the JD brand, he was making a clear strategic decision to reduce complexity and identify just a few priorities that were going to make the biggest difference – something that every executive must get good at if they are to meet and exceed objectives.
Leading people and change
Outstanding leaders have honed their influencing skills and are able to convince others to change what they are doing and adopt new ways of working. They create an inclusive working environment where everyone has the opportunity to contribute and fulfil their potential.
As a leader, it is your role to hire first-rate people and build strong teams in which individual members achieve a higher level of performance by working together effectively. When the time comes to deliver tough messages, do so with empathy and kindness.
Individual development
Curiosity is an essential quality in a leader and the very best continually feed their appetite for learning. One highly experienced chair of a leading retailer, for example, regularly attends courses to deepen his understanding of topics affecting the business, the latest being on AI.
The path to becoming chief executive these days can be circuitous; executives who have a solid grasp of the entire business ecosystem increasingly stand out from their peers. They will have embraced career moves that took them out of their comfort zone, such as working in another area of the business, moving into a different function or taking up an appointment overseas. And when they suffered a setback, they used that experience to make themselves stronger.
Seeking out opportunities to work with different consumers, channels, contexts, or even sectors will greatly enhance your knowledge and expertise. As you discover where your strengths and weaknesses lie, be sure to surround yourself with people who will give you sound, honest feedback – acting on it will help you grow and make you more effective.
Personal values
It hardly needs saying that working hard and inspiring others to do likewise is an indispensable quality for a leader. However, what really captures my attention is people who place ambition for their organisation above their own career interests. Personal integrity is the foundation on which everything else is built
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