Unlocking Potential: Navigating the Past & Future of C-Suite Leadership
This is a fascinating quest that SHRM has embarked on in partnership with The Burning Glass Institute analysing over 65 mio profiles and tens of millions of job postings in the US.
As always, Iâve done the reading and summarising of the 18 page report, so you can save your most precious ⨠asset, namely your time âąď¸:
1. Expanding C-suites: From 1990 to 2023, the average size of senior executive teams (excluding CEOs) increased by 160%
2. Big companies lead the way: Large firms are at the forefront of this expansion, often featuring a diverse array of C-level titles. In 2023, companies with over 5,000 employees had, on average, 7 additional C-level positions per CEO
3. The C-suite's transformation reflects broader societal trends reshaping business. Companies now prioritize workforce inclusion & environmental sustainability. Technological, data, & human capital complexities have increased, with AI & data analytics becoming essential
4. CEOs are creating new C-suite roles to manage these areas. In 2023, CEO-led firms had 2.6 more C-suite roles on averageâa 30% increase from 2010 & 160% from 1990. Larger companies typically have more C-suite positions, with firms over 5K employees averaging 7 additional roles per CEO, compared to 1.5 in smaller companies
6. To understand the evolution of the C-suite, examining the composition in CEO-led companies is insightful:
- CFOs are the most common non-CEO role, with 68 per 100 CEOs
- COOs are the 2nd most prevalent, with 36 per 100 CEOs
- CTOs & CIOs are well-established, with 22 & 21 per 100 CEOs
7. This trend indicates that larger firms are key drivers of C-suite expansion & often lead in adopting niche roles.
đĄExecutive transition coaching is essential as the expanding & evolving C-suite requires leaders to quickly adapt to new roles & responsibilities, avoid the biggest mistakes and drive organizational success
đđź But donât take my word for it, take it from a recent client of mine, the CEO-2 of an investment firm signed up to work with me for a year with the desire to become the CEO of that vertical. Within 6 months of us working together, he was promoted to CEO and became a member of ExCo. And only 3 months after that he was promoted again to become Group Chief Investment Officer
âAs the COE of an investment firm, I went through a significant transition in my career. Navid's executive coaching was instrumental in helping me navigate this change & maximize my leadership impact. Through our sessions, I gained valuable insights into my own leadership style & learned how to effectively engage with the executive leadership team & key stakeholders. Navid's systematic approach & deep understanding of the executive onboarding process allowed him to tailor his support precisely to my specific situation. Iâd highly recommend Navid to any executive looking to enhance their leadership skills & drive organizational successâ
