Top CEO Issues - April 2021

Is there anything you need to be discussing in your business?

From the top

• Boards
• ? Board composition and director removal
• ? Opportunities that external, independent directors bring to family Boards
• ? Use of LinkedIn for Board Directors
• ? Moving into Board roles during / after tenure as CEO
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• CEOs
• ? True role of CEO - positives and negatives
• ? When to get more deeply involved in day-to-day challenges, micro-management 
• ? Importance of client engagement - being seen and seeking feedback
• ? Importance of sharing progress of the company, with finger on the pulse 
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• Future CEOs
• ? Preparing to be a CEO - areas to develop; next steps
• ? Bringing First Team Mindset and behaviours
• ? Setting up own business
• ? Management of teenager / late teen boys
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• Leaving the business
• ? Succession planning and sale / transfer of business - options and opportunities
• ? Systematise your preferred exit plans long in advance for the best possible terms
• ? How best to approach future ownership structures of privately owned businesses 

Management matters

• Growth
• ? Gearing businesses for growth and hiring the right people
• ? Use of business growth fund
• ? Separating non-core businesses out and making them stand on their own feet financially and operationally
• ? Purchasing a business, managing culture and understanding the unwritten ground rules
• ? Valuing a business for purchase
• ? When to say ‘No’
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• By the numbers
• ? Financial target setting
• ? A good time for refinancing
• ? Seeking seed funding
• ? Leveraging government employment grants and incentives
• ? Pricing goods and services profitably in competitive market
• ? Developing a ratio of profit / headcount for indirect staff
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• Grants and tendering
• ? Many government grants available, with low awareness
• ? Tendering and understanding evaluation process
• ? Benefits of using third party to facilitate applications 
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• Supply problems
• ? Challenge meeting demand with tight supply chains, driving increased stocking levels which in turn impacts cash resources
• ? Impacting fulfilment of forward orders 
• ? Freight problems leading to higher costs and the need to hold more raw material stock 
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• General issues
• ? Organisational structures - what is best practice; reporting lines; structuring roles to satisfy key individuals instead of real organisational needs
• ? Overcoming legacy mindsets
• ? When decisions made by overseas HQ do not reflect local operating environment 
• ? How vulnerable is your business model to disruption? 

Selling strategies 

• Marketing strategies
• ? Market planning and positioning
• ? Importance of having a highly regarded brand or 'brand bank'
• ? Building opportunities with universities and research laboratories to promote product development
• ? Engaging a third party to pull apart sales systems and selling approach to improve sales growth
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• Customer relations
• ? Relationships are everything
• ? Customers expect you to have exactly what they want
• ? Know your customer segment, not just your customer
• ? Competing with the last best experience your customer had
• ? Tracking customer appreciation and building into organisation culture
• ? Letting some clients go for the benefit of the team

A changing world

• Business environment 
• ? Governments lack understanding of real-world business environment - industry groups ineffective in conveying message; different agendas mean don’t speak with one voice; employment law and power costs biggest issues
• ? Combining commercial activities with social service obligations and community expectations
• ? Environmental focus as part of business strategy - can support employer of choice strategies and client loyalty; not taking seriously risks serious brand damage
• ? Avoiding the gravitational pull to the status quo
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• Post-COVID
• ? New business trends after COVID-19
• ? Building a business post-COVID and the types of decision making processes
• ? How marketing has changed 
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• Climate change
• ? Benefits of Climate Active accreditation - embracing a recycling focus 
• ? Climate change opportunities, including dressing up products supporting sustainability

Thinking and communicating

• Thinking
• ? DNA of strategic thinking and finding the time, space and presence to create insight
• ? Adaptability and agility in thinking
• ? How the conscious and unconscious impact on thinking
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• Culture and communication
• ? Knowing your core values
• ? Positive culture and regular, open communications
• ? Important employees know what is going on before they start speculating 
• ? Corporate communications - managing risk and being pro-active with communications

Prioritising people

• Staff management
• ? Managing the increasing complexity of HR today
• ? The role of HR people and Culture Managers in the Executive Team
• ? Gender balance - how important in industry sector; value of aspirational targets; contribution of diversified workforce to improved behaviour and culture
• ? Female leaders good at 1-1 discussions and asking the right questions
• ? Number of COVID babies likely to strain maternity leave
• ? Balancing staff levels to maintain high service delivery standards
• ? Growth and shortage of people is going to lead to wage increases 
• ? Annual remuneration reviews - many members opting for 3% increases across the board although some for CPI adjustments only
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• Working arrangements
• ? Flexible work practices becoming the norm - finding the right balance to meet business, client and employee needs; consider benefits to business and individuals 
• ? Time off in lieu as a way to compensate for extra hours worked
• ? Reappraising office requirements - rent or purchase?
• ? Five remote working options from no remote to remote only and combinations in between
• ? Many members 100% back in office 
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• Mental health
• ? Assessing risk of having employees with mental health - understanding how to manage in crisis; recognising changes to pre-empt episodes; be in contact with family members who might notice changes
• ? Mental health awareness for executives - building resilience
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• Hiring and firing
• ? Behavioural questions to help selection
• ? Retaining key staff - staff now leaving for quality of life
• ? Staff referral programs to find new staff
• ? Pros and cons of employee share schemes and how to set up
• ? Many young people not employable - work-shy; lack appreciation of real-world work environment; unrealistic expectations
• ? Conversations and process when managing redundancies