C-Suite executives are the driving force behind organisations. They are the strategic thinkers, change-makers and innovators who spearhead organisational growth. For many, becoming a C-suite leader is the pinnacle point in their career, reaching it after decades worth of industry experience. Although the nuances of each individual’s journey to C-suite may vary, there are certain aspects which many executives share in common.
What is the meaning of C-suite?
C-suite, also referred to as C-level, is an executive level position within an organisation. The ‘C’ stands for ‘Chief’, and the term represents those who are involved in making significant strategic business decisions to drive growth, revenue and innovation in their respective areas of accountability. C-level professionals often report into the board of directors and stakeholders.
Attributes of C-level leaders
Becoming a C-suite executive is no easy feat. Decades of personal development and experience are needed to equip professionals with the expertise and business acumen that’s required in C-suite positions. Executive level positions are not suited to everyone, and only a select few who have the right blend of skill, experience and personal attributes will thrive in such a role.
Executives at this level are responsible for driving innovation and growth. They are the ones responsible for strategic business decisions. Therefore, having a self-motivated, enterprising and forward-thinking approach is critical. This is a role for the change-makers; those able to spot opportunities ahead of time and make bold decisions.
As with any management-style position, strong leadership abilities are a prerequisite in C-suite. Successful executives have a natural ability to lead others and inspire change, both among their executive peers and throughout the entire organisation.
Being a driving force behind company growth and direction, executives at this level must be able to create a vision for the future, often 20 years ahead of time. This vision is ultimately responsible for breathing life into the organisation, and providing the basis for all staff members to feel inspired and row in the same direction.
Communication is an integral part of this role and a critical component to being able to articulate the aforementioned vision to peers, staff and board members. Leaders must have the ability to communicate ideas tactfully, clearly and constructively both in written and verbal format.
C-suite positions present heavy responsibility and risk. As such, leaders must have proven experience in being able to identify potential areas of risk and implementing processes and strategies to minimise any damage. To truly excel here, executives will use their ability to dissect ideas and anticipate upcoming challenges in the market and within the internal business infrastructure.
As part of this role, leaders are held accountable for any drawbacks, and must therefore demonstrate strong use of critical thinking to assess the product/service, marketplace, and business infrastructure. Critical thinking can often result in decisions that create more work, but are fundamental to business growth and stability. Strong leaders are not afraid of inputting ideas that challenge the consensus and prevent the team from falling into groupthink.
How to work up to a C-suite position
Growing into a C-level position is not an overnight process; rather one that involves several decades worth of experience and growth. It is paramount that aspiring executives continue to hold their vision and commit to continuously taking action that inches them closer to their goal.
1. Actively contribute ideas
Those aspiring to reach C-suite should adopt an attitude of treating their companies with the same level of care, thought and passion as they would their own. With any challenges or goals that the company faces, aspirants must become invested in achieving those goals by taking the initiative to contribute impactful ideas and demonstrate a vested interest in the company’s success.
2. Gain management experience
Management is an inevitable part of becoming an executive. Through management, candidates are able to gain valuable transferable skills such as decision-making, performance monitoring and strategy, and gradually build on their level of responsibility.
3. Find a mentor
When working towards C-suite, having a mentor helps to propel you closer to your goal. Mentors offer a unique insight into the role of C-level executives, and provide a platform to ask questions and offer guidance. With it being a journey that spans several years, it may be useful to seek different mentors at the various different stages of your career.
4. Offer your services as a consultant
Once you’ve gained substantial experience in your industry, you can outsource your services to other organisations through consultative work. Being an independent consultant is great preparation for C-suite as it exposes you to a wide variety of organisations, broadening your knowledge, whilst also developing your entrepreneurial and commercial finesse.
An invaluable part of hiring experienced C-suite executives is the network of connections that they bring with them. This is unique to each individual and is built up over several years of consistently networking and nurturing relationships. When it comes to interviewing for C-level roles, your network can be a huge selling point in terms of the doors you are able to open, and it also serves as a testament to your character and professional conduct.
Transitioning into a C-suite role is not without its challenges. Taking that initial step exposes the candidate to new levels of responsibility, and a period of acclimatisation is usually needed.
Changes in peer relationships
Progressing into a C-suite position in your current company can be difficult to navigate when considering the pre-existing relationships you had with your former peers. The dynamic of those relationships inevitably changes, and there is the added pressure of establishing credibility among your team who may not have previously esteemed you as a C-level prospect. Your ability to communicate and build relationships will help you establish boundaries and a new kind of relationship with your former peers, as you take onus over your new role.
As a C-level executive, the expectation can often be that you are a ‘finished product’, and little to no training is required. This makes it challenging when there are apparent gaps in knowledge and you struggle to find the support to overcome them. This is where continuing to have a mentor can be a huge crutch during the transition phase.
Entering into C-suite presents a new level of responsibility which can be difficult to adjust to. Those new to the role can feel overwhelmed by the increased pressure, heavy workload, and responsibility of making business-critical decisions that carry both great reward and great risk. This is why the path to C-suite can never be too in-depth. The more management and business strategy experience you are able to acquire on your journey truly serves as preparation for the end goal.
Traditionally, businesses have been divided into silos, working independently of one another. This can negatively impact growth if departments do not communicate, and gaps in knowledge are unsupported by one another. C-suite leaders have the ability to fill these voids and bind departments together to create a culture of collaboration, each department working in tandem.
Understanding each other’s goals
The first step in creating a collaborative work culture is to understand each department’s goals and aims. This enables executives to deepen their level of awareness and support their fellows, rather than simply focusing on their own department’s objectives.
Educating your C-suite peers on the challenges of your department is a crucial part of successful leadership. As a leader, having the awareness of inter-departmental challenges will enable you to identify parts of your own process that can ease challenges for others. Equally, it helps you to contribute more impactful ideas to your peers.
Knowing where support is needed
Despite organisational compartmentalisation, departments will always be inextricably linked. It’s important to know the key areas whereby one department is dependent on another, and implement processes to ensure inter-departmental communication and collaboration is maintained.
For instance, if a Chief Human Resource Officer has an objective of hiring a more diverse workforce, they will need to collaborate with the Chief Marketing Officer to ensure the company’s branding and messaging portrays a diverse and inclusive culture.
C-suite role titles and responsibilities
Each C-level executive has their own area of accountability, for which they make executive decisions to drive growth, stability and manage risk in their respective fields.
CEO – Chief Executive Officer
The CEO is the main face of the business and is the highest-ranking executive position. Their role is to decide upon and execute strategies, communicating this across employees, clientele and shareholders.
COO – Chief Operations Officer
The COO is responsible for overseeing the business operations. Where the CEO is the face of the business, the COO can be likened to managing and maintaining the internal organs of the company, overseeing processes and the day to day operations.
CHRO – Chief Human Resource Officer
CHROs are focused on the people of the business. They oversee the internal messaging, talent acquisition and employee engagement. They also provide the detail and framework of the business infrastructure, implementing HR processes and supporting documentation.
CFO – Chief Finance Officer
The CFO is in charge of implementing and running the business numbers in order to budget and forecast financial activity. Through robust reporting and a comprehensive understanding of financials, the CFO will contribute towards key business decisions regarding expansion, technology, product development and headcount.
CMO – Chief Marketing Officer
CMOs are accountable for bringing the product or service to life, ensuring new marketing methods are being pushed across different channels. The CMO leads the branding, advertising and PR, and ensures the product message is communicated effectively to the target audience.
CTO – Chief Technology Officer
CTOs have a crucial role to play with modern technology evolving so quickly. CTOs must pinpoint new technologies that are beneficial to the organisation. The two main objectives are to resolve any pre-existing issues through the use of technology, and to find new solutions that enhance performance and customer experience.
C-suite as an evolutionary process
The work to become an executive begins long before the role is within reach. Although each path varies, all aspiring executives share the following qualities in common: their commitment to achieving organisational goals; their ability to build and nurture relationships; and their willingness to develop themselves personally. It is clear that the journey to C-suite is one that spans several years, or often decades, and is an evolutionary process that continues to develop even after the position itself has been attained.
For more information on this topic, or to discuss how we can support with your next C-suite career move, please get in touch with a member of our executive team or email email@example.com