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C-Suite Skills: Are You Leadership-Ready
for Today's Economy?
By Sarah Woods
The closer you get to the top of the corporate pyramid, the tougher it is to advance. This is one of those universal truths in business. In the early years, you stood out among your peers. You were a star. You took on challenges, solved problems, created positive change and made an impact.
Suddenly, the pace seemed to slow...you may have felt like you were treading water. Promotions and opportunities came more slowly. Some passed you by.
Why does this happen?
Naturally, as you move up through the ranks, so do your peers. They are also regarded as high potential. You're the same types of opportunities to lead; many of them have been successful too. They also have mentors. They have champions. You are all leading teams and running businesses, proving you have what it takes.
In addition, because of the economy, it is especially challenging to find opportunities or to differentiate yourself in the leadership ranks. Let's face it; some jobs have vanished - and in many companies, no one is going anywhere right now. Not only have the number of advancement opportunities narrowed; the economic crisis has all but shut off new ventures, mergers, and the resulting promotions and opportunities. Now, instead of being groomed- you're expected to be on call, cover more bases with fewer resources, and be happy about it.
This has been a long "winter of our discontent" - and if you have survived in your present position, you probably feel both relief and a little discouraged. You're working harder than ever, salaries are flat, stock options are non-existent, and bonuses have gone by the wayside.
How can you continue to advance in your career?
Here are some tips on how to stay "in the stream" of emerging leaders, stand out and advance your career:
- Accept that the new jobs and advancements simply may not open up for awhile. Even if they may be filled soon, you're unlikely to hear about it because your company doesn't want to publicly commit.
- Even if you're not hearing about opportunities because they've been delayed, your boss's are still evaluating you. Just because you're not "up" for a promotion right now doesn't mean they aren't sizing you up.
- This means you need to be ready, relevant and visible. How do you do that? By getting guidance and feedback on your areas for development, and then investing time and money in your professional development.
- Remember now, the competition will be significant, from both internal and external candidates. This means you need the skills and the visibility to be "top of mind" for those who are creating the succession plan.
- It's especially important to consider the skills you've been "putting off" working on. It is human nature not to want to invest time in things you don't consider strengths. It's always more fun to do the things you do well. Remember, everything worth doing is a challenge.
- One of the most important skills you can develop is the ability to communicate with passion and purpose to your employees, clients, customers, vendors and business partners. Most of us get to where we are in our careers by mastering the business and technical skills; later in our careers we realize that our job as leaders is to motivate and inspire others to do the work. This is communication, pure and simple, at the leadership level. It's what sets apart those who will always be managers, from those who will lead.
Now's the time to invest in your own development - to become leadership-ready. If your company has a culture of developing top talent - now's the time to ask for coaching. If they don't, introduce the idea. Why should they invest in you? Because it will pay them back in spades. They will retain you longer, they will maintain your engagement and loyalty longer, they will build a strong bench for the future, and you will become an even more valuable asset to them.
Remember, as much as you want to advance, the company also wants to advance and retain top talent. If you've proven yourself as an emerging leader, they will want to invest in you. They want and need your knowledge, expertise, and loyalty. Even in challenging economic times, good people can always find jobs, and they know it. If companies are to survive and thrive into the future, they need to hang on to their best and their brightest - especially in their leadership ranks.
Now's the time position yourself for leadership. The future WILL come…will you be ready?
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