Every leader faces trying times, both internally and externally. Those external factors are often the most difficult to contend with, since they’re outside of a leader‘s control. In fact, the current business climate has generated many shared concerns among managers across the board, regardless of the industry they’re in or type of business they operate.
Below, 15 members of Forbes Coaches Council shared challenges their executive clients are struggling with most today. Follow their advice to navigate these common issues.
1. Making Space For Reflection
My CEO clients know and believe that time and space for reflection and thinking is crucial for clarity and strategic process. And they have a hard time finding the space. Many clients are scheduling space in their calendars and challenging themselves to treat it as a priority just as they do other meetings. – Renelle Darr, InSight Coaching & Consulting
2. Navigating And Communicating Constant Change
I haven’t worked with an organization or leader who isn’t struggling with how to navigate change, whether it is in the organization itself or industry overall. The keys to leading change are trust and clear communication. Build trust with your teams by creating avenues for open, two-way communication, not only about the change itself but also timing and impact. – Tonya Echols, Thrive Coaching Solutions
3. Making Progress Amidst Chaos
It is so easy to get distracted and be pulled in so many directions when trying to balance creating an exciting future while maximizing results today. Taking the time to communicate constantly and engage your teams in both the excitement of creation as well as the dedication to providing results can ensure that you provide the reassurance and sense of stability an organization needs. – Rose Cartolari, Rose Cartolari Consulting
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4. Staying Ahead Of The Competition
With other companies offering a similar service to yours, how do you stay competitive in a crowded marketplace? Instead of focusing on the competition, get intimate with your company’s unique differentiators and value proposition. Remove yourself from the commodity market that competes on price and quality, and focus on innovating your unique approach, exceptional skills and customer intimacy. – Michela Quilici, MQ Consulting and Business Training, Inc.
5. Finding Talent In A Good Economy
Most of my CEO clients struggle to find good help. It’s the curse of a good economy. In bad times, employees are everywhere. In good times, all the good employees are happily employed and taken care of. You must learn to recruit talent in a good economy. You have to seek out employees because most are happy and not seeking further employment. – Ryan Stewman, Break Free Academy
Many of my CEO/executive clients seem completely overwhelmed, mostly by problems coming at them 24/7. I teach them prioritization techniques, and I also serve as a “vent buddy” for them. Having a vent buddy is really helpful. It needs to be someone trustworthy and discreet, who will listen, not judge, not try to solve the problems, but just be there for venting. – Gregg Ward, The Gregg Ward Group
7. Retaining Top Talent
In today’s economy, jobs (and better-paying ones) are plentiful. Companies need to find ways to engage employees in new ways, and it may be different for each one. Are they mission-driven? Are they vision-driven? Do they thrive on cooperation/teamwork? Understand what drives each employee and create a work experience that matches them. – Adam Kipnes, Coach Adam Kipnes
8. Building A Strong Management Team
Having a strong management team will have the most impact on any challenge a CEO/executive is struggling with. As companies grow, they often outpace their management expertise. A CEO should focus their time on getting the right managers in place (from internal or external sources), and then have consistent management meetings focused on strategic initiatives and problem solving. – Erin Hoffman, Collaboration Business Consulting
9. Creating Safe And Supportive Environments
With everything in the news and the #MeToo era, many leaders are struggling with promoting and maintaining safe and supportive work environments. An easy way to do this is by promoting a simple statement: people first. Then couple this statement with values of how people will work and communicate with each other in a people-first initiative. Make sure to reinforce this through goals and training. – Kristy McCann, GoCoach
10. Email Overload
A key to managing time is understanding that your priorities and daily “to dos” must come first. Responding to emails has to wait. Look at it this way: Your “to dos” are your priorities. The emails in your inbox are other people’s priorities. Take care of your business first! We have all sat down just to clear a few emails in the past only to find that we spent an entire day responding to them. – Dr. Josh Luke, Health-Wealth.com
11. Staying Relevant And Professional On Social Media
Many CEOs find it challenging to navigate the world of social media, which is growing daily and here to stay. Being hip and trendy while remaining professional can be tough for some executives. You must learn the dos and don’ts, and you must remember that just because something is effective doesn’t mean it’s professional. – Pasha Carter, The VIP Network
12. Taking Stands On Social Issues
Social issues and business really don’t mix well. However, CEOs are being pressured by stockholders and employees to take a stand on issues like immigration, for example. This is a slippery slope. You can’t please everyone. But you can address issues of those where it matters most — as long as you represent company values. – Randy Block, Randy Block
13. Nurturing A Strong Company Culture
My clients find it challenging to nurture their company culture in the current climate and as their company grows. They are keen on retaining their vibrant, collaborative cultures, so I advise them to capture what that means first. Their clear vision enables them to integrate culture nourishment into operations and continuously evolve. For example, they identify how training and rewards align with the culture. – Kelly Tyler Byrnes, Voyage Consulting Group
14. Choosing The Right Opportunities
Forward-thinking CEOs are constantly seeking then filtering opportunities to grow and strengthen their businesses. Which ones are the best ones to pursue? That is the toughest part for them, and frankly for most of us. Learning to say no to opportunities that don’t meet the company’s growth and value criteria is essential, so that precious and finite time is spent on the best opportunities. – Evan Roth, Roth Consultancy International, LLC.
15. Defining A Legacy
When the economy is hot, executives feel pressure to take larger-than-normal risks to grow the company’s brand. Coupling this with the human needs of personal growth and the service of others, CEOs may take action on deals that don’t align with the company’s mission. I encourage clients to define their personal mission first and find alignment between it, the deal, and the company’s objectives. – Michael S. Seaver, Seaver Consulting, LLC