While most Managing Directors know that effective leadership requires the help of a solid executive team, creating that team can be a challenge. You need functional experts who can deliver across key areas of the business, but you also need people who are capable of providing strategic and ‘coaching’ to each other. This is where things can get difficult, because you’re not only looking for individuals with superior skills, you’re also trying to create a productive dynamic team. CV’s, although a guide, will not pinpoint personalities and it can be extremely challenging to predict how people will interact in a group.
So how can you find executives who will fit the bill?
Start by looking for people who complement you. Great leaders are “self-aware” people. They know how they work best, where their strengths lie, and where they might benefit from a new or fresh perspective. Reflect on your style. What personality traits and/or business skills would best complement your own strengths? Importantly you need people who see the world differently than you do, so you consistently have an opportunity to learn and develop new strategies.
Simultaneously, look for people who balance each other’s temperaments and working styles. There is a psychology concept called “groupthink,” where a group of people can get so set on reaching consensus that, rather than entertain a dissenting opinion, they end up making irrational decisions. While there are a number of ways you can work to avoid this outcome, one that is key is to populate your executive team with diverse temperaments and working styles. Try to create a balanced mix. For example you don’t want an abundance of “people people” who get most of their energy from social interactions, nor too many quiet introverts who like to work by themselves. You need people who challenge each other and create an abundance of different ideas. Ultimately you do want to reach consensus but never at the expense of the most innovative option.
Finally look for people who will speak up without getting wound up. Avoiding groupthink also requires that you provide a space for discussion and debate. After all, running a business involves balancing competing forces. For example you want to do what it takes to please customers, but you also have to hit budgets. Your executive team should include people who can passionately represent these competing forces, not because they want to be right, but because they understand that tension can spark inspiration
