{"id":483,"date":"2023-02-06T15:45:45","date_gmt":"2023-02-06T15:45:45","guid":{"rendered":"https:\/\/www.viewshub.com\/theloop\/?p=483"},"modified":"2023-02-06T16:41:40","modified_gmt":"2023-02-06T16:41:40","slug":"instilling-purpose-in-a-senior-team","status":"publish","type":"post","link":"https:\/\/www.viewshub.com\/theloop\/2023\/02\/06\/instilling-purpose-in-a-senior-team\/","title":{"rendered":"Instilling purpose in a senior team"},"content":{"rendered":"\n

Senior Client Partners for Korn Ferry Janet Feldman<\/a>, who co-developed the firm\u2019s Chief Executive Institute, and Michel Buffet<\/a>, who works in the Leadership Development practice, write how CEOs should confront the need to change their work and that of their top team.<\/em><\/p>\n\n\n\n

PwC\u2019s annual survey<\/a> of more than 4,000 global CEOs, on full display at Davos, asked whether they think their company will be viable a decade from now if it continues running on its current path. A full 40 per cent answered \u201cno.\u201d<\/p>\n\n\n\n

\u201cThat\u2019s unprecedented,\u201d says PwC’s global chair Bob Moritz. \u201cWhat\u2019s interesting\u2026 is the focus on getting their act together over the longer term to do the transformation stuff.\u201d<\/p>\n\n\n\n

Long-range strategic planning is nothing new, especially for leaders of industries like energy, insurance, or pharmaceuticals where capital investments, research and business cycles are measured in decades instead of years. What is new are the profound changes and high levels of uncertainty in the post-pandemic global ecosystem.<\/p>\n\n\n\n

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Michel Buffet<\/mark><\/figcaption><\/figure><\/div>\n\n\n\n

In this era of continuous disruption and rapidly shifting priorities, CEOs face a need to change their work and that of their top team.<\/p>\n\n\n\n

Much attention has gone into understanding team dynamics, in the belief it helps separate low- from high-performing teams.<\/p>\n\n\n\n

Although it is a critical piece of the puzzle, it should not be the initial or sole focus of team development efforts. Doing so exposes teams to missing the fact that their journey to high performance starts with a clear and shared commitment to compelling team priorities \u2013 including a strategic mandate to both perform and transform.<\/p>\n\n\n\n

With a clear, consequential mandate guiding their work, high-performing teams avoid wasting time and resources on just being more \u2018effective\u2019 at what they are currently doing.<\/p>\n\n\n\n

In our research (conducted with Richard Hackman of Harvard Business School), less than 19 per cent of the executive teams were labelled as high-performing.<\/p>\n\n\n\n

That\u2019s largely because most leaders struggle with framing and communicating what they need from their leadership team. A significant factor is the number and diversity of stakeholders \u2013 often with competing values \u2013 that force trade-offs and dilemmas for CEOs and leadership teams.<\/p>\n\n\n\n

However, the same research revealed that high-performing teams share at least three common qualities:<\/p>\n\n\n\n