Hot off the press, PwC has just released its 2017 20th annual NZ CEO survey, revealing that the issue that NZ CEOs are most concerned about is the speed of technological change and shortage of key skills.
With an astounding 84% of NZ CEOs more concerned about the speed of technological change happening in the world than other business issues, we are left wondering – why?
Why are our CEOs so worried about being reactive to external issues, rather than focusing on developing teams and leaders who are equipped to handle these challenges?
In this article we discuss why understanding the effectiveness of your leaders and teams is fundamental to organisational success, and why this issue should be top-of-mind for all NZ CEOs.
How effective are New Zealand senior leadership teams? Participate in the Winsborough New Zealand Leadership Survey to help us assess the state of leadership in New Zealand organisations. Click here to find out more.
Studies show that harmonious senior leadership teams lead to increased organisational profits, while ineffective senior teams have the potential to lead an organisation to failure. A 2007 study of New Zealand leadership teams discovered that “a third of senior management team members believe that their team is ineffective, however the majority of CEOs thought the team was performing well.” Surely that difference in opinion is something that should be keeping NZ CEOs awake at night?
Winsborough, in partnership with Leadership New Zealand, Kea, Conferenz and The 2017 NZ CEO Summit, has just launched the 2017 version of the survey. The survey is open to CEOs and senior team leaders of all New Zealand businesses to partcipate, providing valuable data and insights for organisations, but – importantly – valuable insights for participants into the leadership culture of their organisations.
What did we learn in 2007?
While in many respects times have changed since 2007, the results still highlight the ongoing importance of having an effective leadership team and being aware of members’ perception of the team. If some team members are unsatisfied and believe the team does not operate cohesively, the negativity will ripple throughout the organisation. While if others believe the team is operating optimally, they may be oblivious to any potential issues or unwilling to make necessary changes.
So what can CEOs do?
To be effective, team members all need to be working towards a common goal. Leaders then have a clear path, and can guide their peers towards better productivity. When there is no clear or common goal, confusion can ensue leading to less productivity.
It may seem simple enough to set team goals and make sure everyone gets along, but with diverse organisations, complex team structures and the sheer pace of business today, it’s easy for CEOs to lose track of the team cohesiveness, committment to common goals and leadership culture.
If you’re a CEO or senior leader of a New Zealand organisation, we invite you to take a few minutes to complete the Winsborough New Zealand Leadership Survey. Take a closer look at how your leadership teams are performing and contribute to results that will (confidentially) help you benchmark your business into the future.