Heidrick
& Struggles on the changing nature of leadership
Tracy Wolstencroft, CEO of the global
executive-search firm, explains the importance of authentic leadership,
listening, and getting comfortable with being uncomfortable.
The world is increasingly volatile, uncertain, complex, and
ambiguous. What does that mean for leaders? In this interview, Tracy
Wolstencroft, chief executive officer of global executive-search firm Heidrick
& Struggles, discusses with McKinsey’s Rik Kirkland the implications the
changing world has for the art and science of leadership and what companies are
looking for in potential executives. An edited transcript follows.
The importance of
authenticity
When it comes to talent and leadership, it
starts with content. Today, you’re in a fishbowl. And part of being in that
fishbowl means you’re taking information from multiple sources, you’re being
evaluated on how you take in that information, you’re constantly learning,
constantly teaching, and you have to have a constant ability to modify. Those
who adapt best are the ones who thrive.
But how do you lead today if you’re going to
have to change or be prepared to change tomorrow? How do you do that without
being wishy–washy? It gets back to communication. You have to strike a balance
between being confident and assertive, while helping folks realize, “Here are
the risk factors.” There’s honesty in that.
The more the
individual can convey that inner sense of integrity, that inner sense of
authenticity, then the more folks will give them the benefit of the doubt
that if they have to change, it’s not because they’ve changed
their mind. It’s driven by circumstances in the world that have changed. If the
individual has flagged that as a risk factor, that’s part of being authentic.
Merging innovation and
consistency
The liability of being in a fishbowl is you’re
being looked at from multiple vectors simultaneously—the proverbial 24/7.
That’s the liability. The positive is you have information coming to you from
so many sources and the ability to have an open mind to that information. The
best idea for your business may come from an 18- or 20-year-old who’s living in
Shanghai or living in Bangalore. You have to be open to that.
The way I’d say it is
we live in what’s been termed a VUCA world—volatility,
uncertainty, complexity, and ambiguity. In a VUCA world, there’s only room for
humility. There is simply too much happening every given day that can make you
humble. So get ready for it. Be comfortable. Be comfortable being humble in a
VUCA world.
The more feedback mechanisms you have, the
more you have organizations where people realize that no one person can have
the best solution. The more minds on a problem, the better. And that gets back
to the fact that the fishbowl can be an asset, not a liability. It’s constant
feedback loop. And I think a compass, or a purpose, just gives you a sense of
where true north is. What do we stand for?
Some of the best leaders have the ability to
incorporate what I think of as a compass, or a broader purpose. A purpose
statement or a vision statement in and of itself isn’t a strategy. But it is a
compass. We live in a world that is looking for quick hits, looking for quick
action. But there has to be a trend line. Those compasses, those purposes, help
drive that.
Being comfortably
uncomfortable
Someone said, I can’t remember who, that
comfort and change never coexist peacefully. So I think as you go out 10 or 15
years, and as we get into this environment where it’s not just a VUCA world but
a VUCA-squared or a VUCA-cubed world, you almost have to get comfortable being
uncomfortable.
You have to recognize that an uncomfortable
state is OK because it typically means that you’re growing, you’re learning,
and you’re allowing yourself to be even more authentic with the groups that
you’re interacting with. You know, there’s nothing better than for a leader to
ask a question that shows he or she doesn’t understand everything. Letting
someone explain what the answer is empowers them, it energizes them, and the
CEO also learns.
Be agile enough to take all that information,
assimilate it, and put your best judgment forward. But also be humble enough to
recognize that you may have to adapt down the road and communicate, when you
express the strategy, what you’re looking at. That way, if you have to come
back and adapt, you’re not seen as changing your mind so much as adapting to
the external environment.
Talent requirements
We see clients who are very focused on staying
close to home—whether that be geographically or whether, for example, they’re
in a consumer business—and they want a CEO or a director or more leadership who
knows the consumer business cold. But we also have clients who recognize that
they’re not moving as fast as they could, and they want an outside view. It’s
not as if they have to be prepared to turn 180 degrees—although some are—but to
go halfway there at the board level, at a CEO level, at a senior-team level, to
inject a freshness into how to look at their relationship with their consumers
or their relationship with how they leverage technology.
It’s a mix, and we’re seeing both. The overall
trend is that people recognize that there are all these vectors happening in
the world and data coming in from different sources, and they want a CEO and a
board who has the agility to assimilate all that. They want outside-the-box
thinking, because then they will figure out how to apply it.
Building relationships
You have to spend time with the clients. I
immensely enjoy spending time with clients and get tremendous energy from it.
But it also helps us drive our strategy. It helps us think about where we need
to adjust. It helps us get feedback.
Ideally, I’m with clients and my people. That way, in every
meeting I’m in with a client, I’m really talking to two constituents in the
room: the client, but also my colleague. That’s an important chunk of my time,
and it’s important for my key leadership team to feel confident and spirited by
the strategy, to debate it, and get input. You never know where a great idea is
going to come from. As I said, the best idea may come from someone you just
hired who’s bold enough and courageous enough to ask a question that no one
else asked. You have to be open, showing your team that you’re prepared to go
out and connect with people. It sets a great tone.
Heidrick & Struggles on the changing nature of
leadership
Tracy Wolstencroft,
CEO of the global executive-search firm, explains the importance of authentic
leadership, listening, and getting comfortable with being uncomfortable.
June 2015
The importance of
authenticity
Merging innovation and
consistency
Being comfortably
uncomfortable
Talent requirements
The world is
increasingly volatile,
uncertain, complex, and ambiguous. What does that mean for leaders? In this
interview, Tracy Wolstencroft, chief executive officer of global
executive-search firm Heidrick & Struggles, discusses with McKinsey’s Rik
Kirkland the implications the changing world has for the art and science of
leadership and what companies are looking for in potential executives. An
edited transcript follows.
Interview transcript
The importance of
authenticity
When it comes to talent and leadership, it starts
with content. Today, you’re in a fishbowl. And part of being in that fishbowl
means you’re taking information from multiple sources, you’re being evaluated
on how you take in that information, you’re constantly learning, constantly
teaching, and you have to have a constant ability to modify. Those who adapt
best are the ones who thrive.
But how do you lead today if you’re going to
have to change or be prepared to change tomorrow? How do you do that without
being wishy–washy? It gets back to communication. You have to strike a balance
between being confident and assertive, while helping folks realize, “Here are
the risk factors.” There’s honesty in that.
The more the
individual can convey that inner sense of integrity, that inner sense of
authenticity, then the more folks will give them the benefit of the doubt
that if they have to change, it’s not because they’ve changed
their mind. It’s driven by circumstances in the world that have changed. If the
individual has flagged that as a risk factor, that’s part of being authentic.
Merging innovation and
consistency
The liability of being in a fishbowl is you’re
being looked at from multiple vectors simultaneously—the proverbial 24/7.
That’s the liability. The positive is you have information coming to you from
so many sources and the ability to have an open mind to that information. The
best idea for your business may come from an 18- or 20-year-old who’s living in
Shanghai or living in Bangalore. You have to be open to that.
The way I’d say it is
we live in what’s been termed a VUCA world—volatility,
uncertainty, complexity, and ambiguity. In a VUCA world, there’s only room for
humility. There is simply too much happening every given day that can make you
humble. So get ready for it. Be comfortable. Be comfortable being humble in a
VUCA world.
The more feedback mechanisms you have, the
more you have organizations where people realize that no one person can have
the best solution. The more minds on a problem, the better. And that gets back
to the fact that the fishbowl can be an asset, not a liability. It’s constant
feedback loop. And I think a compass, or a purpose, just gives you a sense of
where true north is. What do we stand for?
Some of the best leaders have the ability to
incorporate what I think of as a compass, or a broader purpose. A purpose
statement or a vision statement in and of itself isn’t a strategy. But it is a
compass. We live in a world that is looking for quick hits, looking for quick
action. But there has to be a trend line. Those compasses, those purposes, help
drive that.
Being comfortably
uncomfortable
Someone said, I can’t remember who, that
comfort and change never coexist peacefully. So I think as you go out 10 or 15
years, and as we get into this environment where it’s not just a VUCA world but
a VUCA-squared or a VUCA-cubed world, you almost have to get comfortable being
uncomfortable.
You have to recognize that an uncomfortable
state is OK because it typically means that you’re growing, you’re learning,
and you’re allowing yourself to be even more authentic with the groups that
you’re interacting with. You know, there’s nothing better than for a leader to
ask a question that shows he or she doesn’t understand everything. Letting
someone explain what the answer is empowers them, it energizes them, and the
CEO also learns.
Be agile enough to take all that information,
assimilate it, and put your best judgment forward. But also be humble enough to
recognize that you may have to adapt down the road and communicate, when you
express the strategy, what you’re looking at. That way, if you have to come
back and adapt, you’re not seen as changing your mind so much as adapting to
the external environment.
Talent requirements
We see clients who are very focused on staying
close to home—whether that be geographically or whether, for example, they’re
in a consumer business—and they want a CEO or a director or more leadership who
knows the consumer business cold. But we also have clients who recognize that
they’re not moving as fast as they could, and they want an outside view. It’s
not as if they have to be prepared to turn 180 degrees—although some are—but to
go halfway there at the board level, at a CEO level, at a senior-team level, to
inject a freshness into how to look at their relationship with their consumers
or their relationship with how they leverage technology.
It’s a mix, and we’re seeing both. The overall
trend is that people recognize that there are all these vectors happening in
the world and data coming in from different sources, and they want a CEO and a
board who has the agility to assimilate all that. They want outside-the-box
thinking, because then they will figure out how to apply it.
Building relationships
You have to spend time with the clients. I
immensely enjoy spending time with clients and get tremendous energy from it.
But it also helps us drive our strategy. It helps us think about where we need
to adjust. It helps us get feedback.
Ideally, I’m with clients and my people. That way, in every
meeting I’m in with a client, I’m really talking to two constituents in the
room: the client, but also my colleague. That’s an important chunk of my time,
and it’s important for my key leadership team to feel confident and spirited by
the strategy, to debate it, and get input. You never know where a great idea is
going to come from. As I said, the best idea may come from someone you just
hired who’s bold enough and courageous enough to ask a question that no one
else asked. You have to be open, showing your team that you’re prepared to go
out and connect with people. It sets a great tone.
http://www.mckinsey.com/insights/leading_in_the_21st_century/Heidrick_and_Struggles_on_the_changing_nature_of_leadership?cid=other-eml-alt-mip-mck-oth-1506
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