The CEO of your company is an extremely important position, as is knowing what the candidate that fills this role should look like. At Y Scouts we encourage people to sit down and think of what the core competencies, characteristics, and responsibilities of their most important organizational roles to make sure that people are fitting into this mold.
The following are some of the basic CEO characteristics, core competencies, and responsibilities. Since leadership styles are flexible, there are no fixed traits that a CEO exhibits. These attributes may all come into play depending on the situation.
1. Flexibility
The fundamental idea of situational leadership is that there is no such thing as a single best or fixed type of leadership. Leadership changes according to the requirements of the group or organization, and successful leaders are able to be flexible and adapt their style of leadership to the level of maturity of the group that they’re trying to lead.
2. Honesty
It goes without saying that anyone who is ethical will also be honest and loyal. Honesty is particularly important to be an effective ethical leader, because followers trust honest and dependable leaders. Ethical leaders convey facts transparently, no matter how unpopular they may be.
3. Changes according to the situation
The leadership style that the situational leader brings into play will be dependent on the situation at hand and the development level of the individuals involved. If the development level is low, the situational leader becomes more task-oriented. If the individuals are sufficiently developed, the leader will be more supportive.
4. Encourages initiative
Under an ethical leader, employees thrive and flourish. Employees are rewarded for coming up with innovative ideas, and are encouraged to do what it takes to improve the way things are done. Employees are praised for taking the first step rather than waiting for somebody else to do it for them.
5. Value driven decision-making
In ethical leadership, all decisions are first checked to ensure that they are in accordance with the overall organizational values. Only those decisions that meet this criterion are implemented.
6. Delegating
When dealing with a highly matured and capable team, the situational leader will gradually reduce their supervision and involvement in the daily activities of team members. The leader is involved while discussing the tasks and deciding on the goals to be achieved, but after that team members have complete freedom on how they want to accomplish these goals.
7. Integrity
The situational leader does not change their approach merely to take advantage of the situation. They simply adapt in a way that is most appropriate considering factors such as the maturity level of followers, the organizational structure and culture, and the goals to be achieved. They do so with integrity, and are not motivated by a desire to unfairly capitalize on the weaknesses of the team or organization.
8. Leadership by example
Ethical leadership is not just about talking the talk, this type of leader also walks the walk. The high expectations that an ethical leader has of employees are also applicable on the individual level. Leaders expect others to do the right thing by leading from example.
9. Clear vision
The situational leader has a clear vision of where the team is going. This is what allows a leader to identify and adopt the most effective behaviors and strategies to get to the goal.
10. Humility
The situational leader does not claim to know it all. With a group of highly developed and mature followers, they have the humility to accept limitations and seek the higher wisdom of the group.
What to Look for in a Chief Executive Officer
After researching when to hire a CEO, it’s time to consider what to look for in a CEO. But how do you know which qualities make a chief executive officer successful?
As a purpose based executive search firm, Y Scouts looks for chief executive officers who share a company’s reason for working. However, there are many other personal attributes that can contribute to a candidate’s success in the workplace. If you’re unsure about what to look for in a CEO, here are five qualities you can consider.
1. Cultural Fit
Cultural fit is one of the most important attributes to look for in a chief executive officer. A CEO who fits in with your company will have an easier time adjusting to the position, and will have an easier time forming relationships with your current employees. Since your CEO represents the company, it’s important to hire someone who shares your company’s values.
2. Industry Understanding
If a candidate has a thorough understanding of your company’s industry, he or she will already have a good idea of what your company is doing. If the candidate also knows how the industry is evolving, he or she should have a general idea of what your company needs to do in order to stay on top of the changes. All of this knowledge is extremely important to look for in a CEO, because it shows that the candidate is capable of steering your company in the right direction.
3. Communication Skills
A chief executive officer with excellent communication skills can talk to investors, employees, and the public about who the company is, what they are doing, and why these things are important. As a representative of your company, it is important that the CEO can speak with confidence, which is why communication skills are essential to the job.
4. Adaptability
As technology develops, industries change. No matter what your company does, there will be always new developments in your field, and these developments may change the course of the industry. A CEO needs to be able to adapt to these changes quickly and effectively in order to keep your company current.
5. Goal-oriented
When deciding what to look for in a CEO, consider how a candidate will affect your company in the future. Using their knowledge of the industry, a CEO should be able to get a general idea of what path your company needs to follow in order to succeed. However, it is important to find a chief executive officer who not only knows where the company needs to know, but how it is going to get there. With a CEO who knows how to execute ideas in order to achieve a set goal, your company can stay at the top of its field for years to come.
You might be interested in these other posts about hiring a CEO:
– When to Hire a CEO
– How to Hire a CEO
– 15 Remarkable CEO Interview Questions
– What to Pay a CEO
Y Scouts is a purpose-based, performance-proven leadership search and development firm focused on transforming how people and organizations connect to work that matters. When you’re ready to hire a new leader, Contact Y Scouts. If you are looking for your next leadership role within a purpose-driven, performance-focused organization, please join the Y Scouts Leadership Community.
What’s Your Why? Click here if you’re an employer. Click here if you want to make a difference in a new role.
