The path to the C-suite has always been competitive, and it is arguably tougher today due to the increased complexity of leadership. The command-and-control leadership model belongs to an outdated era. Today’s C-Suite teams contend with advanced and disruptive technologies, global economic uncertainties, evolving workforce expectations, and heightened scrutiny of leadership performance. Aspiring executives must now possess a broader set of higher-level skills and be prepared to navigate a rapidly changing business environment that demands adaptability, agility and inclusivity as they seek out exceptional opportunities for influence, innovation, and driving organisational success.
So, how do you get yourself ready for a position in the acclaimed C-Suite?
According to Phryne Williams, founder and director of Capital Assignments, an executive search firm specialising in executive appointments in the Financial Services sector, certain attributes are key to preparing for C-suite roles. She says,
“First, you must intentionally build significant experience in your area of specialisation while broadening your exposure to diverse business functions. A solid understanding of finance, operations, risk management, compliance, and strategic planning enhances your ability to lead cross-functionally. Having a deep understanding of financial and economic metrics - even beyond your immediate responsibilities - is vital. Taking on project leadership or roles that span diverse areas of the business will give you comprehensive insights needed for executive-level decision-making.”
Supporting aspiring C-Suite and Board candidates, Phryne advises them to live by the mantra
“Leaders are not born, they are made”
and to focus on developing a modern leadership style and skills-set. Do you have what it takes not just to motivate diverse people but to nurture their talent? Are you an adept communicator who builds trust and is accessible? Can you foster a positive work environment where people feel engaged and valued? Do you embrace ongoing learning and innovation? Can you navigate ambiguity and respond to unexpected challenges? In a fast-changing world, emotional intelligence and adaptability are crucial for leaders. Identifying and addressing personal blind spots through self-reflection, mentorship, or coaching is critical for growth, while prioritising managerial experience that allows you to lead and inspire a diverse workforce should be a key focus.
“Networking is another essential component of C-suite readiness,” Phryne adds. “Cultivating relationships through industry events and professional associations help you to connect with industry leaders, keep abreast of emerging trends, and identify new opportunities. Remember to stay informed about industry developments, by reading widely, and engaging with thought leaders. We recommend that our candidates build an intentional personal brand that reflects their expertise, leadership style, and values. A strong executive brand, conveyed through a professional online presence, thought leadership, and public speaking, can set you apart in a competitive field.”
What abilities should you focus on developing on your road to the C-Suite?The competencies required for C-suite roles are evolving in line with societal and work transformations. Executives blend traditional leadership skills such as problem-solving and strategic thinking with the attributes needed to succeed in today’s complex business environment.
Here are five critical traits that Phryne believes today’s executives need:
Self-Awareness - Deep self-awareness allows leaders to recognise their strengths and identify areas for development. This helps them continuously evolve, make informed decisions, and lead with purpose.
Learning Agility - The ability to absorb experiential lessons and adapt quickly to new challenges is crucial for long-term success in any leadership role.
Humility – Unexpectedly, humility is increasingly regarded as a 21st Century leadership capability. It fosters openness to new ideas and perspectives. Leaders who model balancing confidence with humility encourage similar behaviours among employees, creating a positive workplace conducive to collaboration and trust.
Emotional Intelligence (EI) - Effective, trusted relationships are at the heart of successful leadership. High EI is crucial for understanding and managing one's own emotions as well as those of others. Leaders with strong EI foster better relationships, reduce conflict, and enhance team morale, which are essential for collaborative work environments.
Cross-Functional Agility - The ability to work across different functions and think strategically from both an inside and outside the company perspective enables leaders to drive collaboration and align teams toward shared goals.
Are you aiming to sit on the Board?
Board-readiness requires a distinct focus. Board members need a comprehensive business perspective , with specific expertise in governance, risk management, and regulatory frameworks which are essential for providing oversight and guiding the strategic direction of an organisation. Networking within board circles is invaluable. Seek out relationships with current board members to expand your connections. Board members navigate complex stakeholder relationships—including shareholders, regulators, and the community—requiring nuanced communication skills and a deep understanding of differing interests.
In evaluating candidates for board roles, certain characteristics are essential:
Governance Expertise - A thorough understanding of corporate governance best practices and regulatory compliance.
Strategic Insight - a blend of industry-specific knowledge and broader business experience that informs high-level discussions.
Ethical Leadership - Strong ethical principles and a commitment to sound governance are non-negotiable.
To prepare for board positions, consider formal training on corporate governance and volunteering on the Boards of NGOs. Active participation in industry associations will enhance your visibility and credibility. Additionally, reviewing case studies of board decisions can offer valuable insights into effective governance practices. Phryne concludes,
“Readiness for C-suite or board positions in the Financial Services sector requires careful planning, strategic networking, and a commitment to lifelong learning. Candidates who focus on building their leadership skills, expanding their professional networks, and developing a strong brand will not only enhance their personal readiness but also position themselves as appealing leaders for organisations seeking transformative leadership. As an executive search specialist, I am excited to support candidates by helping them unlock their potential and secure impactful leadership roles.”
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