- Gain industry and management experience. …
- Take the lead during company changes.
- Offer consultative help. …
- Learn about becoming a board member. …
- Start out as an entrepreneur. …
- Find a mentor. …
- Chief executive office. …
- Chief operating officer.
Aspiring senior leaders frequently ask us, “How can I get to the C-suite?” They want to know what combination of leadership and technical capabilities, experience, and aptitudes they need to have to reach the upper echelons of corporate management. They want to know if a certain opportunity will advance them or stand in their way. They ponder whether staying put is the best course of action or whether they should leave their current company in order to succeed.
Consider which path offers the best chance of success for leaders who want to join the C-suite. Consider the risks and rewards of each path, your experience, leadership brand, and mindset as well as how different career decisions may improve or hurt your chances of success as you evaluate how each path aligns with these factors.
The Tenured Executive. The internal promotion of senior executives is the most predictable and frequent route to the top team. Looking at the data from the U. S. the majority of CEOs and other C-suite executives were promoted from within, for instance, 69% of newly appointed S&P 500 CEOs1, 69% of Fortune 500 CFOs2, 51% of Fortune 500 general counsel3, 54% of Fortune 500 chief information officers4, and 61% of CMOs from the 100 most-advertised U S. brands. Executives with tenure have been with their companies for over 15 years, steadily building institutional knowledge and experience, and moving up to more challenging roles. You must have the ability to reinvent yourself as the needs of the business change, be patient, and be open to new opportunities if you want to succeed on this path.
The Free Agent. The second route, external recruitment, involves both individuals hired as “number twos” who later advance into a top position as well as outside appointees who enter the C-suite immediately. In order to drive change or in response to pressure from activist investors, organizations frequently turn to executives from outside the organization. This route becomes available when a strategic change is required or when the organization’s current executives lack the necessary expertise or experience to support it at a given time. Being a Free Agent requires introspection to determine when it is appropriate to move on. Build high-demand skills and a track record of success because you must be worth a company’s risk when hiring an outsider. Be strategic about developing your expertise, experience, and “brand.” ”.
The Leapfrog Leader. The Leapfrog Leader is promoted to a top position within the organization from two or more levels down, effectively leapfrogging more expected successors. In these situations, leaders are placing a bet on potential and in general rewarding leaders who have shown the capacity to comprehend and capitalize on emerging business models as well as those who are wired for change and reinvention. This is the most challenging route to take because it is difficult to plan for, but you can be ready for leapfrog opportunities by strategically managing your experience, reputation, and network and being aware of shifting business requirements.
The Founder. Founders actively create opportunities for themselves, giving them more control over when they rise to the C-suite. This career path frequently entails financial sacrifice because it may require leaving a well-paying job to start one’s own business, and it frequently takes longer than expected for a business to become profitable. The institutional infrastructure of previous roles won’t support you initially, so you’ll need to develop sales and communication skills, resilience, and a tolerance for ambiguity. You’ll also need to build a strong personal network.
The demands on C-suite leaders continue to grow. CEOs and their teams must deal with a market that is unprecedentedly complex, risky, and changing quickly. Aspiring C-suite executives must follow a path that lets them develop a strong set of leadership capabilities and experience and makes use of their particular strengths, mindset, and leadership style in order to lead organizations that thrive in this environment.
This article is based on the Cassandra Frangos (Boston) book Crack the C-Suite Code: How Successful Leaders Make It to the Top, which was released by Wharton Digital Press in March 2018. Cassandra’s experience as the head of Cisco’s Global Executive Talent practice, where she played a crucial role in the planning for the 2015 CEO succession, is also referenced in the book along with interviews.
The Best Way to Reach C-Level Executives
How to work towards C-level roles
Working towards the position you want in the C-suite can be accomplished by networking within your industry, utilizing your knowledge, and showcasing your expertise. There are several paths you can take to advance in your career, even though getting a C-level position is challenging and only a small portion of people hold chief executive positions:
1. Gain industry and management experience
Although not all businesses choose to promote from within for positions in the C-suite, high-level managers frequently have competition for such positions. To pursue this career path, you must strive hard for promotions and demonstrate your industry knowledge and leadership abilities by having an impact on the business in each position you hold.
Take the time to create your own vision for corporate success in addition to honing your management and leadership abilities. Look for opportunities to showcase your thought leadership, whether in business publications, on your personal blog, or on social media. You can distinguish yourself by establishing yourself as a thought leader with original concepts.
2. Take the lead during company changes
3. Offer consultative help
Corporate consultants can pick up experience at a variety of businesses in a single sector. They are able to establish themselves as industry authorities thanks to the variety of insights they gather, which can serve as a springboard for promotions to the C-suite.
Plan your path carefully if you’re thinking about taking the consultant route to the C-suite. Find ways to gain experience with the most well-known people in your industry so you can use the connections later.
4. Learn about becoming a board member
Being a president or vice president on a corporation’s board of directors can give you special management, decision-making, and leadership experience. To acquire the high-level perspective you need to run a business from the C-suite, think about joining a board.
5. Start out as an entrepreneur
Startup founders who place a strong emphasis on developing their leadership and decision-making abilities may be excellent candidates for the C-suite. If you’re thinking about taking this route to a C-level position, try to demonstrate how you will establish corporate culture, handle internal political issues, and guide teams toward crucial goals.
6. Find a mentor
You can learn insights to advance in your career by asking a C-level executive you respect to serve as your mentor. They can also assist you in determining whether or not you would be a good fit for a C-level position. In order to be a competitive candidate, you should also request their candid feedback regarding your strengths and the most important areas you need to work on.
What does C-suite mean?
The team of top executives in an organization is known as the “C-suite,” or “Chief” suite. C-suite executives typically have a wealth of professional experience, excellent leadership abilities, and strong management knowledge. Nevertheless, the C-suite definition frequently goes beyond management alone. These executives typically serve as visionaries. The C-suite collaborates to create corporate strategies that direct organizations toward lofty goals.
Common C-level executive positions
Small businesses typically employ up to four C-level executives, while large corporations may have a C-suite that includes more than a dozen positions. Here are a few of the most popular C-level executive positions, along with each position’s job description:
Chief executive office
The CEO represents the company as the top executive in both public and private businesses. With this job, you’ll be in charge of all major operations and decisions at the highest level.
You will be in charge of outlining your strategic vision for the business to the shareholders, customers, and employees in this role. You’ll also have to take charge of the other executives, making sure that the C-suite is always united.
Chief operating officer
The COO is typically the executive in charge of overseeing daily operations and creating efficient policies and procedures in many organizations. In this position, you’ll typically collaborate closely with the CEO and be in charge of carrying out top executives’ strategies. The COO may also be in charge of administration, payroll, and human resources, depending on the size of the C-suite.
Chief financial officer
The CFO is in charge of managing reporting and compliance in addition to managing cash flow and approving annual budgets as the company’s top financial executive. The CFO is ultimately in charge of tracking and keeping an eye on the business’s profitability.
Since this position is the pinnacle of financial professionals’ careers, it requires more than just the usual leadership and management abilities. Additionally, you’ll need to have extensive financial experience, a solid grasp of risk assessment, and a clear strategic vision.
Chief information officer or chief technology officer
Most businesses use either a CIO or a CTO, depending on their requirements, to manage their information and technological infrastructure. Since you’ll be responsible for coordinating business and technology strategies, you’ll typically need experience in both business and information technology to perform this role. Along with leading an IT team, you’ll be responsible for finding and implementing technologies that help the business achieve its objectives in terms of finance, marketing, and product development.
Chief data officer
The CDO manages the data that the company gathers and stores, while the CIO or CTO oversee technology. This executive, also known as the chief digital officer, is in charge of all matters relating to digitization policies and data governance. You could also be accountable for data compliance in this position.
Chief security officer
The CIO, CTO, and CDO frequently collaborate closely with the CSO as they oversee all system and data security. You will be in charge of creating and implementing protocols to safeguard data and equipment in this position. You should have a lot of experience working in digital security as the CSO. It should also be a top priority to stay informed about the most recent trends and problems. In order to align the business and security strategies of the company, you will also need a solid understanding of risk management.
Chief marketing officer
The CMO oversees the company’s advertising and promotional initiatives as its top marketing executive. You’ll be in charge of creating and managing the company’s brands, supervising market research, and approving elaborate marketing strategies in this position.
The majority of CMOs supervise teams of marketing experts and collaborate closely with the public relations and sales teams. You’ll need to be a strong leader for your team and the organization as a CMO, possess strong creative abilities, and understand how to plan and manage complex campaigns.
Chief compliance officer
The CCO is responsible for overseeing both internal and external compliance as the company’s top legal executive. You should have legal experience and in-depth knowledge of compliance issues to succeed in this position. When working in regulated fields, you’ll be accountable for adhering to all regional and national regulations. Additionally, you’ll be responsible for ensuring that internal employees follow company policies, and you might also counsel other C-suite executives on potential compliance problems.
Chief human resources officer
For larger organizations, the CHRO manages human resources, although the COO may handle some aspects of this. You will be in charge of developing a talent acquisition strategy, promoting employee growth, and succession planning in this position. You could also manage and provide technology and human resources system advice.
Chief experience officer
Despite the fact that the CXO didn’t exist in the C-suite a decade ago, this position is becoming more crucial for big businesses. The CXO is in charge of overseeing interactions between the company’s internal and external clients, making sure that each exchange upholds the organization’s values and mission. Since you’ll be handling communications between the business and its internal employees and external clients as the CXO, you’ll need to have strong relationship management skills.
Essential skills for C-suite executives
C-level executives must possess a strong skill set relevant to their position. Here are a few crucial abilities and traits that typically characterize C-suite roles, although these may vary depending on their title:
Leadership skills
Management experience
To handle both big and small jobs, strong C-suite candidates need competent teams. You must demonstrate your ability to create and lead teams that can achieve goals with the available resources if you want to join the C-suite. You’ll typically need management experience with both small teams of workers and entire departments or regions in order to hone this skill.
Decision-making skills
Busy C-level executives constantly make major decisions. Chief officers need to have efficient decision-making processes in place if they want to succeed in this position. Leaders must understand how to select and commit to courses of action as effectively as possible. This includes gathering information, analyzing results, and weighing the options.
Communication skills
Risk management
C-suite executives need to understand how to assess risks and when to take them in order to fill high-level leadership positions. Executives should understand when to change course, how to accept responsibility, and how to be resilient when confronted with a significant challenge when strategies don’t work out as planned.
Time management and work-life balance
Naturally, burned-out executives are rarely capable of leading their teams well or doing so in the same manner as a new, focused director. You can distinguish yourself as a strong candidate for the C-suite by having excellent project management abilities and a positive work ethic.
Visionary ideas
You must demonstrate your creative thinking and original strategies if you want to join the C-suite. Even though you might not want to reveal your most effective tactics before you land the job, consistently presenting smaller but effective ideas can help you establish yourself as a strategic thinker.
FAQ
How do I reach C-level executives?
The term “C-level,” also known as “the C-suite,” refers to high-level executive positions in an organization. In this context, the letter C stands for “chief,” as in chief operating officer and executive
