How can you identify and address weaknesses in your executive team?

Objectivity is key here. Senior leadership will not take to highlighting improvement lightly (we need to stop calling it weaknesses). A 360 assessment with competency assessments to be part of it, where mentor/ coach can be assigned to develop each individual. All this will be sustainable if you have a learning culture.

It is very important for any leader to identify and address the skills gap in his team, for me I will start by encouraging them to go after their professional Development, Support and encourage executive team members to pursue continuous professional development.

One option to assess gaps is through the use of a skills matrix. This tool maps out the key skills and competencies required for the team to succeed against the current capabilities of its members. By laying out core skills. The process involves assessing each team member against these predetermined skills and competencies. This assessment can be based on performance data, peer reviews, and self-evaluations. Once the skills matrix highlights the areas of weakness, targeted actions can be planned to address these gaps. This might include professional development programs, mentorship, coaching, or even strategic hiring to bring in missing expertise.

Identifying and addressing weaknesses in an executive team is crucial for the success and effectiveness of the team as well as the organization as a whole. Both measurable economic and financial ratios and soft skills are integral for successful executive management. They complement each other by providing a comprehensive view of a company's performance, not just in terms of numbers but also in the human aspects of leadership and management. Financial Key Performance Indicators (KPIs) are crucial metrics that help assess the financial health and performance of a company. Revenue Growth Rate Profit Margin Gross Profit Margin Operating Margin EBITDA Cash Flow from Operations Return on Inv.(ROI) Accounts Receivable Turnover Inventory Turnover

Horse assisted team coaching is fantastic for assessing behavior which promotes collaboration, clear communication and clear intentions, but also for pointing out counterproductive behavior. Horses are unimpressed by people's titles, jobs, status etc. and they mirror us instantly. This type of feedback offers a great gateway for identifying topics to work on with an executive team with less resistance, because a horse is unbiased. Another interesting method is to use AI in mapping out behavioral patterns in executive team's interactions. This new information can serve as a good conversation starter or as a base for establishing areas of improvement together with the executive team.

In my experience, strong executive teams need to be well-balanced in background and thinking. Having everyone with all experience in one industry will make for a harmonious working environment but will also slow innovative thinking.

Prioritization in a global context involves aligning weaknesses with overarching organizational goals, keeping sustainability and SDGs at the forefront. For instance, addressing weaknesses that hinder progress towards sustainability objectives becomes paramount for impactful and responsible leadership.

Support and coaching align with my approach to leadership, emphasizing not just skill development but also resilience and motivation. In a global and diverse setting, providing resources and coaching methods tailored to individual needs fosters a culture of growth and adaptability.

Evaluating executives based on both financial metrics and soft skills provides a holistic view of their performance and success. Evaluate how the executive's soft skills have contributed to achieving financial objectives. Consider the correlation between the executive's leadership competencies, employee engagement/productivity and financial performance. Assessing executives on both financial metrics and soft skills provides a comprehensive understanding of their effectiveness in driving financial performance, managing competencies, and fostering a conducive work environment. Make a balanced evaluation that considers the interplay between financial achievements and the cultivation of a strong, capable, and motivated workforce.