The same process McKinsey used to uncover what separates the best CEOs from the rest can work for you, too.
Credit: McKinsey

The same process McKinsey used to uncover what separates the best CEOs from the rest can work for you, too.

Want to be CEO? Consider these facts:

  • 2 in 5 CEOs struggle in their role within the first 18 months.
  • After 3 years, 1 in 3 CEOs are asked to leave.
  • Hidden value of the role: "If you've stayed in the top quintile of performance for more than ten years, you have 30 times the value creation for your stakeholders than the next three quintiles combined." Wow. Read that again.

Due to the direct impact of CEO leadership on company success, McKinsey partners sought to understand the pivotal nature of this role, how top performers think about it, and ultimately, what makes the best, the best.

And the approach they used? The very same we employ - and invite you to do, too.


STEP ONE: Identify the most critical roles within an organization and the relevant key performing indictors.

?CEO

?Top 6 "outcomes" for which CEOs are responsible, according to this research:

STEP TWO: Estimate the value of improving performance across all in a given role

??See fact #3 above

STEP THREE: Select high performers who consistently achieve performance metrics

"To do that, we had to first identify, 'Who are the best?' We had our own methodology for that, which was rigorous, and it took into account a number of factors, not just financial performance, but social, ethical, and environmental impact."

"We ended up with CEOs who we felt represented the best CEOs of this century to date. We then said, 'Let’s get a statistically valid sample of them, interview them, and try to understand what separates the best from the rest.”

STEP FOUR: Hold in-depth, case-based interviews to capture repeatable practices and top performer's "mental model"

"The authors studied nearly 8,000 CEOs across the globe and across various sectors to determine what set these leaders apart from the rest. Through detailed interviews, they uncovered the mindsets, approaches, and practices that informed their leadership styles and delivered powerful results."

Check out the full article here.

STEP FIVE: Create performance support in the flow of work.

While authors in the article stop their research at the publication of their book, Exemplary Performance goes a step further, transferring the insights and wisdom unlocked from the best into actionable steps for others to emulate. Doing this helps other employees internalize the new standard of excellence, bringing much-needed change to the entire organization. Quickly and economically.

Start the process at your organization today by investing in a free consultation.

Bill McDevitt

Small Business Growth Expert | Leadership Coach | Building High-Performing Teams

8 个月

Thank you for the insightful article Jaime Torchiana, M.S. And thank you for the link - very interesting read and now I need to add the book to my reading list!

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