Top of Mind for Global Executives

C-suite leaders from the world’s best companies turn to World 50 Group for pragmatic perspectives on urgent business topics and macro trends. “Volatility” is the word of the month, as markets saw stubborn inflation, new geopolitical conflict, and a slower cycle for interest rate cuts. The good news: Corporate deal-making appears to be on the rebound, according to early signs from @Goldman Sachs and Blackstone. Watching this environment closely are CEOs of privately held companies, who gathered recently at a World 50 Summit to discuss what’s new in leadership, labor markets, private equity, and personal resilience—unearthing insights applicable to all companies and executives.

CEO Coach: Context fuels team effectiveness.

A high coordination tax and low-trust relationships often plague team performance, said Stephen Miles , founder and CEO of The Miles Group , who has spent more than 25 years working with CEOs, C-level executives, and boards. Miles characterizes teams as either:

• Transactional, where people point fingers.
• Empathic, where people coach with context.

The co-author of Riding Shotgun: The Role of the COO shared a quick way to improve team effectiveness: Identify and remove the highest-friction person, usually the one who cannot disagree and commit. Based on extensive coaching experience, he sees CEOs create the most momentum with the top 25-100 people in the organization. By engaging this second level of leadership and articulating how their work connects to growth strategy, CEOs build trust and encourage the free flow of information.

Economist: Compensation structure is evolving.

Having researched anonymized payroll data from more than 25 million U.S. employees, ADP Chief Economist Nela Richardson believes a globalization of labor markets is underway. Now, companies hire the best talent—not just the cheapest—from anywhere. She cites firms in large cities, like New York and San Francisco, that cluster C-suite hires and offshore lower-skilled labor, such as in call centers. Meanwhile, episodic inflation continues to complicate compensation structure. With the pay premium for remote work shrinking, employees seek flexibility more in terms of time than region, according to ADP research, which suggests that workers on-site full time could use more conversations about career development.

• A tip: Surprise bonuses have a better impact on performance than expected bonuses.

Private Equity Partner: Do you have the right team?

After retiring as CEO of Marsh McLennan , Dan Glaser joined private equity firm Clayton, Dubilier & Rice in January 2023, and 10 months later became interim CEO of Focus Financial Partners , where he remains today. His lesson from increasing Marsh McLennan’s market capitalization by $63 billion: Every CEO must balance realism and optimism. He said an underappreciated role of leadership is to confront dissent with discussion and inspire people to see the possibilities, not just the probabilities. This echoes a working assumption at some private equity firms: Companies lack the right leadership teams. Owners are inherently skeptical when CEOs say, “I’ve got a great squad.” Their view is, “Get Tom Brady on the high school football team.”

Former CEO: Communication drives simplification.

Simplification has been called the Swiss Army knife of leadership. In practice, simplicity stops at the C-suite, and organizations push complexity on decision makers, said Frank Blake , who retired from the Macy's board this year. The former chairman and CEO of 家得宝 thinks too many organizations miss the opportunity for simplification in promotion announcements, which should articulate company values and career pathways. For Blake, simplification starts with the CEO’s calendar. His advice: Reserve white space on your calendar—ideally two days per month—for connecting with people and ideas outside your organization. “One of the most important things that a CEO does is think laterally or peripherally.”

Global Explorer: Discovery takes a growth mindset.

Imagine if Indiana Jones had higher ethical standards and access to LiDAR (Light Detection and Ranging). That begins to describe research scientist Albert Yu-Min Lin, Ph.D. , an explorer with the National Geographic Society who left CEO members inspired by his personal resilience. At The Explorers Club , the host of Lost Cities shared a range of stories, from deciding not to publish his first big exploration to finding kinship with a 30,000-year-old amputee discovered in Borneo. “When I find these things, I not only find a little bit about myself, but it also makes it easier to see everyday challenges as more consumable.”

Interested in upcoming conversations and membership? Connect with our team at [email protected] .