In Baldrige Reimagined, two critical characteristics are required for organizations to be considered for the Award: resilience and long-term success. Given the sea change surrounding us, those seem to be spot on for not only surviving but thriving in these times. But what are the characteristics of the leaders of these organizations? And what can we learn from them?
McKinsey & Company recently published an excerpt from a book, The Journey of Leadership: How CEOs Learn to Lead from the Inside Out. In the article titled, the authors featured several successful leaders who dealt with many challenging circumstances: changing from a familiar industry to a completely new on, weathering the collapse of an industry, surviving a severe economic downturn, navigating a global pandemic with all of its repercussions, and vying for workforce amid the Great Resignation and the Quiet Quit.
Essential Characteristic: Do what feels uncomfortable
The article describes several essential characteristics that leaders need to pivot from these challenges to lead their organizations to a successful recovery. The first is “Do what feels uncomfortable.” Several leaders described feeling out of their element when switching industries. That same discomfort hit when leaders had to suddenly switch from managing for growth and profitability to saving money by cost cutting, laying people off, and cancelling projects. And the need for making these changes quickly by building relationships with others who have the types of experiences they lack. Several leaders described making changes in their careers to develop other skills they would not have developed had they remained comfortable in their familiar industries and known scenarios. Former Ford CEO Mark Fields says,” You’re going to learn how to be a utility infielder, and you will have that muscle memory that you’re going to need when you have to pivot from growth to cost cutting.”
Essential Characteristic: Go deep
The second essential characteristic is “Go deep.” This involves understanding the intricacies of the business. “Versatile leaders must think deeply about what makes an organization tick and its different capabilities and assets.” Several of the cited leaders displayed a rabid curiosity about learning an entirely new industry. When John Plant left TRW (an automotive supplier) in 2015 to join an aerospace company supplying high-tech parts for commercial and military aircraft, he immersed himself in the technologies used and the markets served. Plant said, “It really just starts off with a lot of rigor. First you analyze, then decide, and – probably even more important – have the confidence to carry out that decision.”
Essential Characteristic: Know when to speak up
The third essential characteristic is “Know when to speak up.” “Leaders know that…situations can create tough trade-offs where they must forgo lucrative opportunities that are not consistent with their companies’ moral compass.” Staying silent and hoping the problem goes away is unlikely in a word of social media scrutiny. However, taking a position on a controversial topic has the potential to disenfranchise employees, customers, investors, and other stakeholders. Leaders should examine whether the position is authentic – “consistent with their organizations’ institutional integrity, values and principles – and whether the world with perceive it that way.”
Another Essential Characteristic: Courage
While this article didn’t define another essential characteristic, we believe that one exists: Courage. It takes courage to deliberately put oneself in an uncomfortable position. It takes courage to admit what you don’t know and to go deep to learn and gain experience to address the gaps in your own skillset and knowledge. And it takes courage to speak up when the prevailing sentiment may go against your beliefs as a leader.
Do you have what it takes to be a versatile leader that enables your organization to be resilient and demonstrate long-term success?
http://The versatile leader: How learning to adapt makes CEOs better https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/the-versatile-leader-how-learning-to-adapt-makes-ceos-better?cid=eml-web