Getting The Perfect CEO Mentor For Your Company
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Transcript of Getting The Perfect CEO Mentor For Your Company
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7/31/2019 Getting The Perfect CEO Mentor For Your Company
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Making It To The Top
www.boardportfolio.com.au
Copyright 2012
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TABLE OF CONTENTS
4 Guarantee Your Companys Success
By Using Board Portfolio Services
Choosing The Right Career Consultant 6
To Execute A Thorough Board Search
8 How Programs On Executive Portfolios Can
Help Advance Your High-Calibre Career
Three Things That Executive Career 10
Management Can Do For You
11 Reasons Why You Should Use Board
Search Firms For Board Appointments
Three Tips That Can Help Companies 13
Looking To Fill In A Board Vacancy
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15 Things Needed For A Successful
Partnership With Your CEO Mentor
What Are Mentoring Programs For CEOs 17
And What Should You Look For In A Mentor?
19 What Is An Advisory Board And How
Can Having One Help Your Organisation?
Things To Consider Before Hiring 21
Your Board Of Directors
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Guarantee Your Companys Success By
Using Board Portfolio Services
Your companys body of workers serves as the backbone
that supports effective business operations. However,
the brains behind a companys success will always come
from a pool of talented and dedicated directors. If you want to guarantee the
success of your business, then you should start by hiring only the best people to
serve as leaders and provide measures that can help maintain high standards for
excellence within your company.
Of course, you can always seek the best talents in the field by yourself, and you
can also provide measures to evaluate and constantly improve director
performance without any outside help. However, if you want to save time and
company resources, and if you want to be sure of the quality of service provided
for you, then its better to just turn to experts from Board Portfolio, Australias
number one group of board consultants. Detailed below are some services
offered by Board Portfolio and how these can be of benefit to your company:
Board appointments and recruitment - Whether you are just building your new
company or youre relaunching an old one, it is very important for you to find and
appoint only the most competent individuals to lead your business. However, this
objective is easier said than done, and hiring talented executives can be truly
difficult, especially if youre new to business. Board Portfolio consultants and
advisers can easily assist you in finding the best leaders because of their extensive
experience in this area. The company keeps tabs on the careers of the industrys
most powerful leaders, and can readily recommend one (or a whole board) for
you. The consultants from the company can also directly approach qualified
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candidates to negotiate for you, maintaining confidentiality to ensure your
companys image.
Executive coaching - Once you have hired the
perfect leaders for your company, you can ensure
that their talents and leadership abilities will not
become stagnant by providing regular evaluation
and instruction on effective management. By
availing of executive coaching, you can help
company directors and CEOs further improve their
game which in the long run, will be of benefit to
both your executives and the company they work for.
Board advisory - A successful business provides means
for performance evaluation and improvement not only
for its top employees, but also for the rest of the
company. Board advisory services from Board Portfolio
can help you assess how your company is performing,and reveal problem areas that need to be addressed
quickly, as well as exemplary practices that should be
continued. After all, although your directors are still the key figures in your
companys success, the rest of your workers and the nature of your operations
are also major contributors.
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Choosing The Right Career Consultant To Execute A
Thorough Board Search
In earlier decades, businesses and organisations
resorted to one recruitment solution to find the best
candidates to fill positions within their teams: posting
advertisements. Either through the newspapers or over
the Internet, companies before made a genuine effort
to compose a clear and concise advertisement
indicating the position they need to hire for and theselection criteria that interested applicants must meet. While releasing such job
advertisements is undoubtedly effective, there's no question that there's always a
chance that news of the job opening failed to reach a highly qualified candidate,
resulting in a missed opportunity.
These days, however, it is no longer enough to simply release an announcement
of a job opening and expect the right applicants to walk into the recruitment
officeespecially for top-level positions that require candidates with several
years of experience and a decided expertise in his field. A more effective way for
companies to find and recruit the right executives for their purposesor for a
highly skilled professional to secure a position in a successful company's board of
directorsis to hire a career consultant to perform a board search.
A talent management and career consultancy firm would have several years of
combined experience across its pool of human resource experts and executives to
match the right company with the best professional to complete their board of
senior members and contribute to the growth and development of the
organisation. Compared to releasing an advertisement for a position, hiring a
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board search consultant with an extensive network of top-notch companies and
ideal candidates would result in quicker, more informed, and more compatible
hirings.
A senior executive consultant with a thorough knowledge of workplace trends
and movements and corporate dynamics can help companies effectively obtain a
high quality board of directors. The services of such a professional would also
prove invaluable to individuals seeking to beef up their corporate biographies,
make the right business connections, and secure senior management positions in
the top companies within their industry. Who better to turn to for board
appointment and career development advice, indeed, than an expert executive
coach?
The success of a company and of an executive's professional development lies in a
perfect fit; senior executives need to be assigned roles wherein their expertise
and exceptional business perceptions can be utilised to the greatest advantage,
while companies require the most experienced, innovative-thinking, adaptable,
and creative minds to help move the company in the right direction. A consultantwith expertise in career management and mentoring can help both parties
achieve the results they are looking for in the most effective manner possible.
Leaving the fate of your career or your board's performance to chance is unwise.
Consulting a career expert to guide individuals and companies through a board
searchcan be the best recruitment move yet.
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How Programs On Executive Portfolios Can Help
Advance Your High-Calibre Career
The top-ranking executive today annihilates the stereotype of someone with a
well-placed career. Corporate leaders in the past had been typically depicted as
hardworking, cunning, dedicated and also comfortable and settled down with
their position until retirement stage. Their careers follow a rational, linear path
you can easily track from the moment they said yes to their first job offer up to
their rise to the top.
Todays high-level professionals, on the other hand,
run on more dynamic and transformative directions.
Theyre not sitting pretty inside air-conditioned
offices; theyre busy building executive portfolios
presentations that showcase their leadership
capabilities. Its not that theyre always on the
lookout for greener pastures (although this is also a
valid motivation for seeking success). The
phenomenon is more so because of the increasingly competitive, highly mobile
and decidedly global corporate environment today.
Due to constant changes in the economic and political sphere, what may be a
stable industry can collapse unexpectedly. A seemingly established firm can
suddenly need to let go of its most prized talents; on the other side, even the very
loyal employee can be given an opportunity to jump ship that can be impossible
to let go. The quest to step up an already high-calibre career is not just a goal for
success, but also for survival.
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Todays crme de la crme of the corporate world board directors, chief
executive officers, senior-level managers, chairpersons, captains of industry are
now seeking invitations to the most intensiveexecutive portfoliosprograms that
provide them career strategies and connect them with the right referrals.
The best executive programs include results-driven approaches that not just
showcase the talent, but also provide fresh insights on revitalising ones career.
Seeking board appointments or enhancing an already established board portfolio,
for instance, can sometimes provide a career boost more than a promotion or a
salary increase. The program can help a member manage an impressive of
portfolio of board appointments, directorship roles or non-executive directorship,
as this growing trend signals the new breed of industry leaders today.
Another service, the business mentoring and
executive coaching, involves intensive and insightful
one-on-one sessions that can provide a clear strategyfor every career move. From enhancing
communications skills, to empowering the business
image, to targeting key directorship and management
issues every component that will influence a high-
level career path will be reviewed and improved.
By partnering with a career coaching leader, a high-level, high-performing
professional can dramatically transform her career from merely successful to
simply stellar.
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Three Things That Executive Career Management Can
Do For You
There is a saying that goes, no man is an island, and what this adage tries to tell
people is that no one can function alone even if he or she appears to already
have everything needed to survive or succeed. This is especially true for senior
managers and company executives; although it is possible for you to already
possess all the necessary skills and expertise for you to achieve your current rank,
this doesnt mean that you dont need help anymore for your career to reach
even greater heights.
The truth is that if youre already at the top, youll
need even more assistance for you to have
greater accomplishments. This is because your
skills might have already reached a threshold for
success, and youll need to improve yourself to be
able to face more difficult challenges ahead. After
all, there are also sayings telling people that
nobody is perfect and that there is always room for improvement. If youre
already in a high-ranking position but you still want to further your career, then
maybe you should consider executive career management. Listed below are three
things that career managers can do to help you achieve your greatest potential:
They offer an external perspective that can objectively
assess your career history and experiences. In most
cases, a person in an executive position has already
spent so much time in one career field. After all, one
way to secure a top position in any given field is by
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working for many years and specialising in that area. This highly specialised
training may indeed be helpful in gaining the necessary experience for a
leadership position, but its also likely that it will result in some biases that can
affect your view of your career. Executive career management specialists can help
get rid of these partialities and help you figure out your true strength and
weaknessesand how you can best utilise them.
They provide real-time assessments to keep you on track. Working with a career
coach does help you find your best qualities and use them. These coaches also
help provide ways for you to achieve your goals, whether its through additional
training or by switching careers. However, all these efforts will become worthless
if you dont have a means to keep track of your progress. Executive career
management not only helps assess your careers growth, this service also ensures
that you stick to your goals until you achieve them.
They help you attain a sense of balance between work and personal life. While
career success may be perceived by many as reaching the highest position in a
company, the truth is it is so much more than that. With executive careermanagement, you can achieve a balance between work and personal affairs, a
feat that will ultimately make it easy for you to be a success in the corporate
world.
Reasons Why You Should Use Board Search Firms For
Board Appointments
Looking for highly qualified individuals to fill in key positions in a companys board
of directors is not a simple task, and this is particularly true even if youre just
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appointing members for your first board or looking for executives after decades
of experience in the business. What makes this task difficult is not the shortage in
supply of eligible candidates there are more than enough capable leaders in
business, but most of them are already happily employed. The real obstacle is
finding one who is willing to transfer jobs and take on a role in a different
company.
You will face many hurdles when searching for good
candidates forboard appointments, and this includes
the lack of visibility of executives to job postings and
advertisements (note that most are already
employed and thus less likely to submit applications)
and the stigma that comes from stealing another
companys employee. However, these problems can
be alleviated by using board search firms. Listed
below are some reasons why specialised search is your best option for filling in
board vacancies:
Save time and resources - Manual searching for executive
candidates will require you to draft and edit a job posting,
and then submit these to the necessary channels for
advertisement. Once you have successfully publicised
your companys need to fill in board appointments, you
will then face another time- and resource-consuming
challenge: sifting through the numerous aspiring
applicants. The issue with this is that not all applicants
who respond to your job posting will be qualified for the post. However, this
doesnt mean that you can just ignore their applications; you will still have to
check on their credentials, a process that will definitely cost time and company
resources. On the other hand, board recruiters can recommend and directly
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approach eligible candidates for you, which is a much faster process than lying in
wait for jobseekers to apply.
Ensure quality - Board search firms are not like regular recruitment services in
that they only check credentials once an applicant has submitted a resume.
Instead, these specialists keep tabs on the industrys leaders. Not only will an
executive recruiter keep notes on candidates accomplishments, he or she can
also perform necessary background checks on these potential hires. In addition,
most specialised search firms also watch out for budding new leaders in the
business, and may even recommend these promising talents to companies that
are raring for new blood.
Maintain confidentiality - Its not a good idea for company owners to directly
approach candidates for board appointments as this can create a negative image
for the establishment. With a board recruiter by your side, you can approach,
negotiate, and eventually sign executives from other companies without stirring
up any controversies.
Three Tips That Can Help Companies
Looking To Fill In A Board Vacancy
Choosing suitable members for your companysboard is often a gruelling and stressful task. After all,
its not easy to search for good, available talents with appropriate credentials.
There are many establishments that provide recruitment services that can help
companies suffering a board vacancy fill in the position. Working with these firms
offers a lot of benefits, such as great time and resource savings and getting a
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guarantee for high quality hires. To make the most of the convenience offered by
recruitment companies, listed below are three tips to make the whole transaction
a much smoother process:
Work with the right kind of recruitment firm. This is
perhaps the most important tip for companies who are
looking for nominees for a board vacancy. Of course, if
you are looking for an executive, it only makes sense to
go to a recruitment firm that specialises in hunting for
such talents. Going to a regular firm will only be a waste
of time, since such services cannot recommend potential
hires quickly.
Regular recruiters, more often than not, simply post job advertisements and
screen applicants for hiring companies. On the other hand, specialised
recruitment firm keeps track of major industry leaders and can easily recommend
qualified executives who can meet your criteria. A board search firm can also
approach a candidate directly and negotiate offers in behalf of your company, aservice that regular recruiters rarely do, if they ever do it all.
Be realistic about your expectations. A lot of companies make use of services from
board search firms expecting that this kind of recruitment can deliver miracles
for their company. While it is true that board recruiters (or headhunters) will
definitely work hard to find the best candidates to fill in a board vacancy, this
doesnt mean that you will be able to hire just about any executive you can think
of. There are lots of factors that can affect the availability of an executive for your
offered position, and these include industry, schedule, and geography, to name a
few. Even with their persistence, board search firms still experience a greater
number of turndowns when approaching Fortune 500 execs.
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Determine who will make the final decision on the hire and make sure that search
firms know who this person (or group) is. Most of the time, companies create
committees that will make the final decision as to whom to hire for a boardvacancy. In some cases, the CEO performs a more active role. Either way is fine,
but make sure that there are no squabbles amongst company personnel
regarding the final decision, as this can serve as a warning to recruiters about the
state of your company.
Things Needed For A Successful Partnership With YourCEO Mentor
Undergoing extensive training, acquiring all the possible
business degrees, and enrolling in every management
seminar and leadership workshop can indeed help you
land a high-ranking job. However, executives are chosennot only for their personal accomplishments but mostly
because they have demonstrated qualities that make
them suitable for such demanding roles. While working
with a career coach can help you attain all the technical training needed for a
person of high rank, this kind of executive support does not necessarily instil in
individuals the wisdom necessary to lead a company. The best way for you to gain
such insight is by tapping into the experiences of someone who has been in the
business of leading for a long time: aCEO mentor.
Mentoring with a seasoned CEO will truly be helpful if your aim is to acquire
wisdom for the role. However, not all CEOs can be effective teachers, and not all
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mentees make for good students. There are certain
things that both mentors and apprentices should
practice for the partnership to become truly
productive. For instance, the CEO mentor should
exhibit much patience and understanding when
sharing insights with a new executive. This is
particularly important since not all new senior
managers are equipped with the wisdom for such a role. In addition to patience
and understanding, CEO mentors should demonstrate a willingness to share
relevant experiences and sound advice; after all, the exchange will be worthless if
he or she is not keen on imparting lessons learned from the job.
On the other hand, an apprentice executive should not be so proud as to reject
guidance from a more knowledgeable person a mentors willingness to teach
can only be complemented by the mentees commitment to learning. It is also
very important for mentees to be good listeners as well as proactive workers.
After all, the advice given by a CEO mentor will only become meaningful when put
into practice.
Both CEO mentors and the novice executives under
their guidance should remember that the success of
this partnerships lies on honesty, mutual respect, and
trust. With all these things present, both can expect
good results. For budding executives, of course,
mentoring will help them attain qualities that will
help make them good leaders, such as foresight,
respect for other employees, confidence, and a sense
of empowerment.
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With the help of a CEO mentor, new executives can also learn about the culture
and unwritten rules regarding the business, as well as how to deal with difficult
situations, such as office politics, with much grace and wisdom. CEO mentors, on
the other hand, can gain satisfaction from being a contributor to someones
growth and success. Mentoring can also improve their own performance, since
teachers can always learn a thing or two from their own students.
What Are Mentoring Programs For
CEOs And What Should You Look For
In A Mentor?
There are two different ways for senior managers and
prospective company leaders to achieve their greatest
potential at work. The first is by executive career coaching, while the second
option is by enrolling in mentoring programs for CEOs. It is important to
distinguish between these two different kinds of executive support, because evenif they do have the same goals, their respective areas of focus are not the same.
The former focuses on the acquisition of necessary
skills and experiences to help gear you towards a
career in leadership. This means helping you acquire
certifications, additional degrees like an MBA, or even
going through management seminars to improve your
organisational techniques. Executive coaching also
means working with a career coach, a person who is
familiar with your field of business, like a line manager
or a colleague within the same department. This coach
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can readily assess your skills and provide real-time feedback on your careers
progress. At the same time, career coaches can also recommend ways for you to
build on your strengths and correct your problematic work habits.
On the other hand, working with a mentor places emphasis on gaining the
necessary wisdom to become a leader. Of course, a mentor also can also give the
same kind of support offered by a career coach. While CEO mentors will indeed
offer advice on how to attain required skills for the position and give you
feedback, their focus is on building leadership characteristics that will make you
more capable of handling highly demanding executive roles in the future.
Mentoring programs for CEOs focus primarily on giving less experienced
employees some insights that can ultimately direct their personal growth and
development towards that of a good leader. This is an important difference from
executive coaching because not all coaches can give the same level of leadership
advice or insight as someone who has first-hand experience in running a
company.
If you are interested in enrolling inmentoring programs for CEOs, it is important
for you to choose your mentor wisely. While almost all CEOs are truly capable of
leading large organisations, not all make for very effective teachers. Besides being
experienced and knowledgeable, a great mentor should also be patient,
supportive, encouraging, trustworthy and honest. He or she should also be a good
listener and communicator. Other things that are truly important for a productive
mentor-mentee relationship include a willingness to teach and spend time and
the capability to maintain confidentiality. Although the mentor holds the upper
hand in this partnership and the mentee requires his service, there should never
be a lack of respect from either side.
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What Is An Advisory Board And How Can Having One
Help Your Organisation?
Most people are familiar with the roles and functions of a companys board of
directors; this group of high-powered corporate officials serves as the leaders and
brains behind the growth and success of a business. Companies will, of course,
take measures to ensure that only the best leaders are included in this highly
exclusive committee. The question is, if you already have the best and most
knowledgeable people in business acting as your companys executives, why is it
still necessary to hire anadvisory boardfor support?
To answer this question, it is necessary to define first
what advisory boards really are. This group of advisors
is usually an unofficial committee comprised of
volunteers who offer support for the companys board
of directors. Representatives from an advisory board,
according to legislation, do not have the power to
make decisions for a company; members of this group
serve only to provide their expertise and knowledge in certain fields to aid CEOs
and the other directors in making decisions. For most companies, this group
consists of a financial advisor, a legal expert (or a few), a marketing specialist, an
accountant, and an expert on human resources. Each one serves to complement a
certain niche in the business, and companies may add more members with
various areas of specialisation depending on the companys needs.
What exactly do members of the board of advisors do? As mentioned previously,
this group of experts mainly provide their knowledge and expertise to help
company directors in decision making. Some members of an advisory board may
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be given more specific tasks within the company; however, most advisors simply
attend company meetings and provide input and feedback on important
discussions. This might seem like a redundant role, especially since the companys
directors are already some of the top-notch minds in business.
What most people fail to realise, however, is that advisory
boards provide the companys link to the general public.
Since members of this group are not really affiliated with
the establishment, they can provide a more objective
perspective from outside the company, a valuable
attribute that may be lacking in company executives.
Board advisors can help companies by providing
feedback, opinions, and ideas from the companys target
audience; this makes their input truly valuable.
Since an advisory board is an unofficial committee
comprised of volunteers, what benefits can be enjoyed by
its members? While its true that board advisors usuallyget little monetary compensation for their services, if they
do get any at all, the true value of being in such a group
comes from the experiences and insights that can be
gained from company discussions. Being on advisory
boards can also help expand ones network of contacts, which is often a truly
valuable resource in business.
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Things To Consider Before Hiring Your Board Of
Directors
If you are the founder or CEO of a small company and you are planning on
expanding your business in the future, you might find at some point that you
need to create and select individuals for your own companys board. While some
people might think that hiring more executives for a budding business is
unnecessary and costly, this is only true if you hire less than qualified managers to
fill in executive positions. However, if your board of directors is made up of the
most talented people in the business, then youll find that your efforts andexpenses for creating your own companys board are more than worth it.
Before you proceed with hiring people for your board, try to figure out first why
you need one. Hiring people with expertise in other fields will definitely be a great
help when it comes to making company decisions, since different perspectives
can help shape decisions. However, in what fields do you need the most
assistance?
Think about your own skill sets and try to decide in
which areas you are weakest. For example, if you are
not so well-versed in finance, then maybe hiring a CFO
(chief financial officer) can help balance things in that
field. Board of directors commonly include experts in
other disciplines like a marketing specialist, legal
experts, and human resources. You can also add other
members, but try to think of those areas of expertise where you need the most
help.
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Once you have determined what board positions you need to fill, its time to put
down in writing a clear definition for the role. Its best to be thorough when hiring
for such a high-ranking position as your future hire can have a great impact on the
companys future. Of course, writing down the job description should be followed
by a well-defined list of expectations for the role. This exercise is helpful for both
you and aspiring applicants since creating clear descriptions for the job and your
expectations can lessen disappointments and arguments down the road.
When its time for you to release your advertisements to the job -seeking public,
try to consider different avenues for hiring. One of the fastest ways is by posting
the job opening on online forums and job boards. However, this can yield large
numbers of low quality applicants since such boards usually are more lenient
when it comes to screening. On the other hand, if you want fast results that yield
more high-quality nominees for yourboard of directors, then its best to consult
with board search firms that specialise in hiring senior managers for companies.
Such services can give you great results in no time, saving your company time and
money while keeping your search stress-free.
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