The Best C-Level Executives Do This

They get executive coaching.  Two-thirds of Fortune 500 CEOs have at least one executive coach.  Why? They need a confidential source of advice and counsel from an independent party.  Someone who is not a board member, investor, or subordinate.  Without that advice and counsel, it is very possible, if not probable, that they will fall short of investor and employee expectations.  

According to Russell Reynolds, CEO turnover in 2022 exceeded 11% among the largest 2,500 companies in the world. Not the highest in history, which reached 17.5% in 2019 prior to the pandemic. But very high.  Why? A number of reasons.  First, the pressure by investors for returns is intense, which means they are far less patient than in prior history.  CEOs have to produce results, or they are out.  

Second, leaders can no longer hide their shortcomings.  The transparency that exists via social media means many eyes are watching a leader’s every move, and we all understand the hyper-critical nature of social media.  

Third, the complexity and pace of life has accelerated dramatically in recent years, and every leader needs an assist to stay on top of things.  

Finally, even under the best of environments, we all have blind spots that lead us to make mistakes.  For many of us, those mistakes go largely unseen.  But CEOs are surrounded by a plethora of people looking hard for those mistakes.   Executive coaching is a powerful antidote to these forces.  See www.traversi.com/what-we-do for more info on our state-of-the-art executive coaching services.