Author Archives: Larry Janis

How the CFO became a C-suite mastermind — and what it means for women leaders

 

 

 

By Lindsey Galloway

 

In Chief’s new series, The New C-Suite, we examine how rapidly-shifting workplace norms and technologies have impacted today’s top corporate power players — and what it means for executive women.

While parity in the C-Suite has been challenging to come by, there’s one traditional role where women are making headway. The Chief Financial Officer role has continued to see women make real gains in representation in recent years.

Women held nearly 19% of CFO positions across Fortune 500 and S&P 500 companies in 2023, compared with only 6.3% in 2004, according to executive search firm Crist Kolder. Research suggests women outperform men in the role and generate stronger returns.

Women’s representation is especially important in the CFO role, since the job has long been a key stepping stone to the top. In fact, last year proved to be the best ever for CFOs ascending to the CEO role, with more than 8% of CEOs coming from the financial seat.

That growth in opportunity is likely due to the fact that the CFO role has become much more tightly integrated into the operations and ultimate success of the company. Few C-Suite positions have been more in flux over recent years. In a recent survey of nearly 600 CFOs by consultancy firm Egon Zehnder, 82% said their role has shifted significantly over the past five years.

“The CFO role has expanded from a focus on finance and compliance to include responsibilities as a risk and stakeholder manager, as well as a key strategic decision-maker within the organization,” says Amy Butte, newly appointed CFO at travel and expense management platform Navan. “The office is increasingly viewed as an integrated, proactive leader who is hyper-focused on optimizing systems and increasing efficiencies. The job has evolved from its traditional accounting function to a strategic role that actively evaluates programs and systems to drive growth.” (more…)

2 Emotional Intelligence Factors Linked to Higher Salaries

 

 

 

 

 

by Molly Owens

 

We’ve long known that emotional intelligence (EQ) is a crucial asset in the workplace. But which of the five factors that make up EQ are the most valuable for climbing the corporate ladder?

A 2024 global survey of more than 28,000 people who took Truity’s Emotional Intelligence test shows that two specific EQ factors are most correlated with higher salaries and promotion.

Ou research found that as income and the number of people one manages increases, so does their overall EQ score. More specifically, the survey found that high earners and leaders tend to excel in these two key factors of emotional intelligence:

  • Social awareness, or the ability to understand the emotions of others;
  • Emotional control, or the ability to regulate and manage one’s emotions.
The data suggests that those who can most effectively manage their emotions and navigate those of others are more likely to succeed in their careers. This is particularly true for men, who may be expected to suppress their emotions in certain professional settings (more on these gender differences below).  

The Harvard Business Review describes this “one-two punch” of emotional control and self-awareness in this way, “While it’s important to understand and manage your emotions, you also need to know how to read a room…(and) recognize others’ emotions and the dynamics in play within your organization.” 

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Staying Composed Under Pressure: How Leaders Set the Tone in Tough Situations

 

 

 

by David Finkle

 

When challenges arise, one of the most critical leadership skills is the ability to stay calm and composed. High-pressure situations are inevitable in any business, but how you handle them can set the tone for your entire team. The way you respond during a crisis or unexpected challenge affects not only the immediate outcome but also your team’s confidence in your leadership. This article will explore the importance of composure and provide actionable strategies for maintaining calm in difficult moments.

The Importance of Staying Composed

Pressure can reveal a lot about your leadership style. When things go wrong, whether it’s a missed deadline or an unexpected issue, your team looks to you for guidance. Leaders who stay composed in these moments send a message that challenges are manageable, and that there’s a path forward. On the other hand, leaders who panic or react impulsively create an environment of uncertainty, which can demotivate their team.

Remaining calm is about more than keeping your emotions in check–it’s about maintaining control of the situation. When your team sees you approaching a challenge with clarity, they feel reassured and ready to focus on solutions rather than getting stuck in the problem.

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3 Core Leadership Principles from the Tech Industry

 

 

 

 

By Rick Chavez

 

Two worlds of business are colliding. On one side is the world of incumbents, boasting a rich legacy of well-fortified brands and businesses. On the other is the high-velocity world of technology, exemplified by companies like Apple and Microsoft, which has patterns that can be instructive for incumbents. Having lived and worked in both worlds, I discussed three principles that can help business leaders grapple with complexity and uncertainty in my recent TEDxWalden Pond talk, “Thriving In Turbulent Times.”

 1. Understand mega-trends that shape disruption

The true cause of disruption is a convergence of mega-trends. Some are trends in behavior — what is “it” that people want to pull into their lives? Far better to unpack the “jobs to be done,” problems that matter (that is, ones where customers have genuine desire for progress). Then there are societal trends — what will society accept or reject? Often regulation or mounting pressure for regulatory reform will signal societal trends, and technology evolves in concert with those trends. Technology, while triggering broad fascination and investor fervor, should be framed as an enabler, not the main driver, for other forces underway that are tipping the world toward some new normal.

So rather than immediately training attention internally on existing assets and products, companies need to start with a time for observation, for understanding relevant mega-trends, and asking crisp questions about the course and speed of forces at work. Formulating the right questions is much more important than pushing for answers.

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How Aligned Leadership Teams Drive Growth

 

 

 

 

by Robin Camarote

 

The secret to sustainable growth is getting everyone on the same page.

Growth can be fulfilling for you as a leader and is essential for expanding your impact and serving more people. Yet achieving predictable growth is often elusive, particularly when it’s a group project for your leadership team.

Many organizations I work with have a familiar structure: a CEO supported by a C-suite, under which are business leaders managing different accounts or service lines. Typically, these teams gather once or twice a year to strategize. Each leader then sets their division’s priorities and dives into work — often heads-down, relatively isolated. While teams meet plenty, these discussions sound more like a brief out from a collection of individual contributors versus a real team huddle.

This diffuse, siloed approach takes people in different directions and out of alignment. They then miss critical opportunities to support each other and maximize growth.

For CEOs, this can be incredibly frustrating. They often tell me they feel their team is underutilized. It’s not that they’re not busy. Everyone is incredibly focused on their own work, their staff, and what they believe to be their problems.

The fix lies in intentional, regular team alignment.

When leadership teams align around the “5 Ps” of growth — purpose, positioning, people, pipeline, and promise — they operate more effectively.

1. Purpose

Define the purpose of growth. Achieving this starts with defining why growth is crucial for your specific business. What’s your purpose? What opportunities does growth open up for your customers, employees, industry, and community?

2. Positioning

Now clarify your market positioning. Understand what sets you apart from competitors and why customers choose you. This clarity helps in making informed decisions about which opportunities to pursue.

3. People

Discuss the people aspect next. Beyond roles and titles, consider the skills your team possesses and the gaps you need to fill to stay competitive. Decide whether to build skills internally, hire new talent, or partner with others.

4. Pipeline

Once your people are in place, focus on your pipeline. Ensure every leader knows what’s in the pipeline and the likelihood of winning these opportunities. Together, determine concrete actions to enhance these odds, with clear roles and timelines to boost accountability.

5. Promise

Finally, address the promise. Encourage each team member to articulate their personal commitment to growth. This process not only clarifies individual contributions but also fosters a sense of accountability.

Aligning your leadership team around these five elements simplifies complex challenges and enhances effectiveness. It fosters a stronger team dynamic and a shared commitment to growth, making the daunting task of business expansion both easier and more rewarding.

This post originally appeared at inc.com.