The latest private equity data paints an interesting picture. On the surface, UK deal activity has slowed, with buyouts falling during Q1 2026. But beneath the headlines lies a far more important trend: the value of exits has reached its highest level in two and a half years.

That tells me one thing. Private equity isn’t stopping. It’s becoming increasingly selective. With significant dry powder still available and pressure mounting on funds to return capital to investors, the focus has shifted from doing more deals to creating more valuable businesses.

Businesses Attracting the Highest Valuations Have Several Things in Common

They don’t simply have strong financial performance. They have leadership teams capable of delivering predictable, scalable growth.

The questions investors are asking have evolved:

• Can this management team execute the growth plan?
• Is there enough strength beyond the CEO?
• Does the business have the capability to integrate acquisitions successfully?
• Is succession planning already in place?
• Can the leadership team thrive through the next stage of value creation?

These aren’t questions asked six months before an exit. They’re questions that sophisticated investors are considering from day one.

Bolt-On Acquisitions Tell Another Story

With three quarters of UK PE buyouts now being bolt-on acquisitions, investors are clearly favouring lower-risk ways to create value. However, acquisitions only create value if they are integrated successfully. That requires experienced leaders who have been through change before, leaders capable of integrating cultures, systems, customers and people while maintaining business performance.

The transaction itself is often the easy part. Execution is where value is either created or destroyed.

The Pressure to Exit Will Only Increase

Extended hold periods mean many funds have assets that have been waiting longer than expected for an exit opportunity. As market conditions improve, competition won’t simply be for acquisitions, it will be for buyers.

The businesses that command premium valuations will be those that are genuinely exit-ready. That means robust governance, clear strategic direction, strong financial controls, and above all, exceptional leadership.

Leadership Has Become a Value Creation Strategy

At Parkinson Lee, we’re seeing increasing demand from private equity firms and portfolio companies looking to strengthen executive teams well before an exit is on the horizon.

Whether that’s appointing a transformational CFO, an experienced Chair, a commercially driven CEO or strengthening the wider executive team, investors increasingly recognise that leadership quality has a direct impact on enterprise value.

The strongest exits rarely happen by accident. They are built over several years through deliberate investment in the right people.

As the market gathers momentum again, perhaps the biggest competitive advantage isn’t simply having capital to invest, it’s having leadership capable of maximising the value of that investment.

I’d be interested to hear what others in the private equity community are seeing. Are you seeing greater emphasis on leadership capability as funds prepare businesses for exit over the next 12–24 months?

Author | Lee Bhandal | Managing Partner 

With over 20 years’ experience in private equity, including being a founding member at Endless and Chair of Nimbus’s UK Operations, Chris Clegg has built a reputation for helping private equity investors unlock step-change performance in portfolio companies. I met with Chris to explore how private equity can unlock step-change performance through strategic clarity, operational excellence, and strong leadership.

Can you give us a little insight into your early career and what attracted you to a career in Private Equity?

I qualified as an accountant with Arthur Andersen, initially working in audit. I got my first real taste of private equity when I transferred into the restructuring team at Andersen, where I worked to support some of the underperforming assets in 3i’s portfolio. I then had a year’s secondment in RBS’s acquisition team, structuring finance for high-growth private-equity-backed transactions. I loved the concept of private equity, where you invest in a business with a 5-year plan and are actively involved in delivering it, rather than being an observer as an advisor.

What have been the standout moments in your career to date?

I would say the two standout moments of my career to date have been successfully launching the Enact fund whilst at Endless. Effectively, I had taken a concept, built a brand and operations, and raised a maiden EIS fund within 12 months, which delivered market-leading returns. Outside of private equity, I would say saving the Costcutter supermarket chain from financial collapse when I was engaged personally by the board of its owners, Bibby Group, to devise and negotiate a restructuring plan with all its external stakeholders.

What do you feel distinguishes private equity-backed businesses from private or even public organisations you’ve worked with?

Private equity-backed businesses have a clear plan driven by the exit horizons of their equity backers. This alignment gives the organisation clarity, therefore allowing everyone to push in the same direction. Further, private equity-backed businesses can draw on the vast experience of their owners, who have insights into best practices and networks across their current and historical portfolios. Private equity has often learned the lessons of the past through its 20-30-year track record. This experience can be hugely beneficial around the Board table.

In your experience, what common challenges do PE-backed companies face post-investment?

If I’m honest, where private equity goes wrong is when it underestimates the DNA of a business and the influence of its founders/exiting management on culture and entrepreneurship. The business culture and management styles are often overlooked in due diligence, and this rears its head post-completion. There is a litany of PE failures, particularly in the retail sector, where the founder exited, leaving a huge hole in leadership, culture, and vision.

How do you approach value creation in the first 12 months of an investment? And how do you prioritise initiatives in the first 100 days post-acquisition?

In the first 100 days, I actually devise a value creation plan, which may sound surprising. When you look to invest in a business, you are often backing an existing three-year business plan. You will have many ideas for how to supplement and enhance that plan pre-completion, but ultimately, you are buying into management’s plan as a baseline. In the phase of trying to win a deal and undertake diligence, you really don’t get the opportunity to spend quality time with management purely focused on developing a plan. Therefore, my first 100 days are about understanding the business better, meeting 2nd-tier management, who are often shielded until the deal is done, then developing a detailed, consensual plan, agreeing on milestones and the specific investment/resources required at a micro level.

As a Chair and NED, you now also advise entrepreneurs. How does founder-led leadership differ from PE-backed leadership? What advice would you give an entrepreneur thinking about bringing in PE Investment?

Founder-led leadership comes in two forms: conservative and entrepreneurial. The conservative type has typically been entrepreneurial but now runs their company as a lifestyle business. The entrepreneurial types are significant risk takers who often push the boundaries.

The advice I give to entrepreneurs is to pick your partner wisely. If you have a great business, you will have no trouble finding a PE backer, so which one is fundamental. The cultural fit is so vital to the success of this partnership. Everyone is your friend when things are going well, so you need to be sure your PE partner will be there in the trenches if the hard times come. COVID was a great test bed for those relationships. I have seen many great examples of great PE partners and terrible ones during the pandemic.

At the point of investment, how clearly defined should the exit strategy be?

I think this is very important. Just backing a business and making it more profitable is just part of the story. You need to know who will buy the business and why? You will have seen the evolution of continuation funds. This is a reflection of an absence of financial buyers, as debt has become too expensive. Private equity has often defaulted to secondary deals as a preferred exit plan rather than considering whether a trade sale is achievable and working towards it. Whilst there is no certainty in who will be a buyer of the future, I believe this is a low priority in PE thinking, or certainly was when the market was frothy!

When transitioning founder-led businesses to PE ownership, what leadership adjustments are most difficult?

Often in founder-led businesses, the decision-making is centralised with the founder. Creating a more balanced boardroom and genuine delegated responsibility can be a very difficult adjustment. Often, the first leadership adjustment required is convincing the founder of the value of appointing a CFO rather than living with a Head of Finance. If the founder is still involved in some capacity but no longer the CEO, then allowing the management team autonomy is important, whilst not ignoring the heritage of the business. Getting this balance right is critical. The big football clubs often wrestle with this when a long-established leader steps down. Think Man United!

What’s the right balance between supporting a CEO and challenging them? What makes a productive relationship between the CEO and PE sponsor?

The right balance comes from developing the right chemistry and relationship. If the principle of challenge is to enhance outcomes and is delivered respectfully, then it is hugely productive.

In your opinion, what does exceptional look like in a mid-market CEO?

People management 100%. An exceptional CEO is one who surrounds himself with talent and aligns his team to shared objectives. When I walk into a business, and I feel a strong culture, this is often the first sign of a great CEO.

What makes a management team attractive to private equity investors?  When you assess a leadership team pre-investment, what are the 3–5 attributes that matter most?

The chemistry of the leadership team and clarity of roles are very important. The sign of a good CEO is to have a talented team around him. Also alignment. In every business I have been involved in, whether it is PE-backed, a turnaround or a multi-generational business, if the management team are aligned in terms of their objectives, then this is hugely attractive. If there is misalignment, then this is when teams become dysfunctional and ineffective. One of the PE investors’ first stages of assessment pre-deal is to work out who to give sweet equity to as part of this alignment.

In your experience, where is value most often unlocked: revenue growth, margin expansion, working capital, M&A, or leverage?

That’s a very difficult question to answer. Every situation is different. However, in this new age of technology, it is very easy to compete, so often the first-mover advantage, market share through revenue growth, and establishing a brand presence create significant value and protection.

You’ve served as Chairman across several portfolio companies. What is the Chairman’s role in a PE context?

A Chairman’s role in a PE context is to act as an effective bridge between the owners and the management team. It is to develop, with its stakeholders, the business’s strategic direction and to support the management team in its execution through a combination of mentoring and healthy challenge within a framework of Corporate Governance.

Looking ahead, where do you see the biggest opportunities in private equity?

I think technology and healthcare at a Macro level. However, there is so much capital to deploy and active PE firms presently, that the biggest opportunities are the overlooked sectors where there are strong players in traditional markets that represent robust investments.

Finally, what motivates you to take on these roles and who/what has been your biggest source of inspiration?

I love to learn, and these roles allow me to access new sectors and new challenges. Early in my career, my biggest inspiration was my boss at Andersen and then Endless Garry Wilson. He was a visionary, and it’s amazing what we built at Endless. More recently, one of my clients, Mike Racz, has created one of the most inspiring team cultures I’ve ever seen in his franchisee group.

For our latest instalment of “An Interview with…”, we speak to Rod Williams, CEO of Tes, who has led the business through a remarkable transformation since joining in 2020.

Rod has overseen the Tes evolution from a trusted education resource in the UK into a world-class software provider with a global reach, supporting schools and educators in over 100 countries and holding a market-leading position in Australia. His leadership has been underpinned by resilience, determination, and a clear vision for how technology can help the education sector thrive.

As Rod shares, the journey is far from over. With an ambitious strategy, a strong leadership team, and a commitment to innovation, Tes continues to expand its impact, both in the UK and internationally, helping schools focus on what matters most: delivering the best possible education for future generations.

You’ve overseen the transformation of Tes into a world-class software provider since joining in 2020 – what core leadership principles have guided you through that period?

Resilience, determination, and vision. In 2020, the pandemic increased the pace of change for most businesses, especially when it came to ways of working. There were operational challenges for both Tes and our customers that meant that we needed a clearer vision, supported by a resilient and determined attitude.

But with these challenges came an opportunity. We redefined how Tes should serve the education sector, both in the domestic and international schools markets, and focused on what was going to help schools and educators succeed. That vision and strategy remain true today, and while we are a UK-based business, we have a truly global reach, with customers in over 100 countries, a strong and growing presence in the international schools sector and have now taken a market-leading position in Australia.

How do you recognise and nurture leadership potential across global teams, especially in a fast-scaling SaaS context?

This is imperative to the growth of any business. We identify individuals who can drive impact and outcomes, influence with authority, and take ownership. We have an established senior leadership team that is comprised of individuals from different areas of the business to share perspectives and experience that will benefit both Tes and the wider education sector. Our SLT has recently gone through a 6-month, bespoke leadership training programme to help prepare and coach them to become the leaders of tomorrow.

We also help nurture our leadership talent throughout the business. One of many examples being our CFO, who has been at Tes for six years and was appointed CFO in March 2024.

One of the things that impressed me from day one at Tes was the strength of our L&D programme. There is a genuine desire to invest in our people at Tes, with opportunities for both personal and career growth, and this is well-supported by our fantastic L&D team. We encourage individuals to take ownership (in line with one of our core values) of their training and development, to ensure its led by them, but supported and invested in by the business.

What responsibility do you believe a CEO in edtech has in helping to shape education and the institutions that deliver it?

Our mission is built on helping schools and teachers alleviate operational and administrative burdens they face, so they can focus on what matters most – providing the best possible education for our future generations.

As such, we play a critical role in helping shape global education and we’re constantly driven to supporting the institutions that deliver it. We’re building a technology ecosystem for education and educators that is forward looking and focused on the needs of the schools.

It’s imperative that we are alert to the issues and challenges facing the sector. The schools and trusts we work with expect us to be across any policy changes, funding adjustments, and curriculum updates, but it’s imperative that we are proactive in taking ideas and solutions to the market, helping schools to understand how technology can help them deliver the best education.

What advice would you give to future leaders looking to build a global SaaS platform?

Remain focused on your purpose and why the company you lead exists. The competitive landscape is far more complex now than it was 20 years ago, particularly in technology, with the ability to build MVPs rapidly and with limited resources. So, it’s important to be clear about what you are going to do differently from everyone else, to set you apart from the crowd. This will ultimately ensure customers gravitate to your business and brand, rather than the competition.

Scaling a SaaS business requires the right talent, systems, and culture, so make sure you have these components in place. If you don’t, start building!

Are there causes outside of education that you’re passionate about or involved in?

My wife and I do quite a bit of work and support causes we believe in, particularly in our local community. We also do a lot of mentoring, especially for those that are earlier on in their careers, whether they are individuals or startups, but where our experience can help them get a leg-up.

If you weren’t in business or ed-tech, what do you think you’d be doing instead?

I wanted to be a pilot when I was a child, but ultimately my dream would have been to be an F1 driver – the know-how, finance and, more pertinently, probably the talent got in my way of that one! Similarly, at school, I was in a very mediocre band, with visions of playing Wembley stadium but that talent gap stopped us all in our tracks!

What’s a book, podcast, or piece of advice that’s deeply influenced how you think?

One of the best pieces of advice I was given at university was from a friend of mine’s family who owned a medium-sized pharmacy business. That was, look after your cashflow. The temptation is always to think how profitable you can make a business but, at the start in particular, if you neglect your cash position then you won’t be around for very long.

Although not a great reader of business books, I read a lot of biographies and particularly of those successful in sport. It’s really noticeable how a lot of the lessons and approaches from sport translate very well into business, particularly from people who have had considerable success in their field. A lot of the philosophies employed by coaches or managers, for example, have an interesting correlation with business and performance excellence.

Parkinson Lee Executive Search, one of the North’s leading executive search firms, is proud to announce the launch of the Private Equity Playbook, a new and exclusive leadership initiative created in collaboration with global professional services leader EY and financial powerhouse Santander UK.

With over 50% of Parkinson Lee’s revenue derived from private equity-backed companies, the firm has deep roots in the sector and a unique understanding of its evolving demands. The Private Equity Playbook responds to a growing need for a credible, Northern-focused platform that connects C-suite executives from PE-backed businesses through meaningful and strategic engagement.

“In conversations with PE-backed CEOs across the region, a consistent message has emerged—they are often travelling to London for networking events that could and should be available closer to home,” said Lee Bhandal, Managing Partner at Parkinson Lee. “The Private Equity Playbook addresses this gap, creating a hub in the North for connection, collaboration, and insight-sharing among the sector’s most influential leaders.”

A New Era of Private Equity Leadership

The Private Equity Playbook is designed exclusively for CEOs, CFOs, Chairs, and Non-Executive Directors (NEDs) operating in private equity-backed businesses throughout the North of England. More than just a networking group, this initiative offers a strategic and confidential environment where leaders can exchange experiences, refine their approach to value creation, and navigate the full private equity lifecycle—from initial investment to successful exit.

Through a series of expertly curated events—including roundtable discussions, peer-to-peer forums, and presentations from seasoned professionals—participants will gain actionable insights and tactical frameworks to accelerate growth, enhance governance, and drive investor returns.

Collaboration with EY and Santander UK

EY and Santander UK bring industry-leading expertise and networks to the initiative, ensuring that participants receive high-impact value from every engagement.

“We’re excited to collaborate on an initiative that has the potential to reshape how PE leaders across the North access knowledge, opportunity, and each other,” said Adam Barraclough, Partner – Head of North – Strategy & Transactions Markets at EY. “This is about fostering excellence and accelerating performance in a critical economic sector.”

Santander UK echoed this vision, highlighting the importance of supporting the unique needs of PE-backed companies outside of London. Adrian Rowles, Director of Structured & Specialist Finance – Financial Sponsorsat Santander UK said: “We are pleased to be working with Parkinson Lee and EY on this initiative to drive forward Private Equity in the North of England, the playbook is the perfect way of showcasing what our region has to offer.”

A Call to the PE Community

The Private Equity Playbook is an invitation-only collective. Those interested in joining or learning more are encouraged to contact Parkinson Lee for further details on upcoming events and membership opportunities.

As the North continues to strengthen its reputation as a hub for innovation, talent, and private capital, the Private Equity Playbook stands as a catalyst for growth, connection, and strategic leadership.

Colin Storrar is a modern business leader with a sharp strategic mindset and a thoughtful people-focused approach to leadership. Recently, I had the opportunity to sit down with Colin to explore his career journey, his transition from CFO to CEO, and what it takes to lead one of Europe’s largest credit management groups. We also discussed how he balances the demands of executive leadership with family life – and, impressively, his training for an upcoming Ironman – that is a 2.4 mile swim, a cycle ride of 112 miles, and finished off with a 26.2 mile run!

Colin, you’ve had an outstanding career to date, can you talk us through what influenced a young man from the Northeast to become a chartered accountant in the early days, did you have any particular role model or influences?

I’m not sure about the outstanding part, but it’s certainly been interesting. In terms of influences, my parents have had a huge impact on how I see the world. They demonstrated first-hand the importance of hard work and resilience each and every day. My Dad worked shifts, and my Mam forged an impressive career after spending twelve years as a full-time mum to me and my brother. They both continued working well past their retirement age, although I’m pleased they’re both relaxing a little more now!

Like many people, my first role was a Saturday job, working in a small sports shop in South Shields. I stacked shelves, served customers, and did whatever needed doing. It was a world away from Chartered Accountancy, but that’s where I had my first real taste of the working world. The shop was run by a guy called John Pack and looking back he was my first real influence in work. John knew how to motivate people and rewarded hard work with ever greater trust. He was also fiercely loyal of his team and had one rule: show up and put the effort in. Looking back, I loved working for John and learnt so much from him.

I went on to study Modern History at university but didn’t have a grand career plan. I knew I wanted to work in business but in all honesty was a little naïve as to some of the choices open to me. Corporate finance sounded exciting but felt out of reach. I didn’t really understand the full range of opportunities in banking or consulting, and private equity wasn’t even on the radar back then. Becoming a Chartered Accountant—and starting in audit—felt like a smart way to gain broad exposure to different businesses and industries.

I subsequently joined Arthur Andersen which seemed the most dynamic of the ‘Big 5’ at the time. I was fortunate enough to work across industries ranging from manufacturing to football clubs, from water companies to British Nuclear Fuels. After five years in audit, I then moved into risk consulting where I stayed for a further six years until just after Andersen imploded with the Enron scandal.

You’ve worked for some of the leading global brands in financial & professional services, did you make a conscious effort to follow that path?

Less a considered path, more a series of happy accidents. I’m not sure I would have left Andersen and joined General Electric if it hadn’t been for Enron. Equally, I’m not sure I would have joined first direct and HSBC if the GE business in the UK hadn’t been sold to Santander.

There are two things I have always sought to do however. Firstly, I made a conscious choice to stay long enough with each organisation I’ve been fortunate enough to work at, in order to learn about the business and try to master the role I was employed to deliver. Too many people join a company and bail out when things get tough or a new opportunity opens up elsewhere. I firmly believe you need time and a little patience to get good at a given role. Career progression is important, but giving yourself time to do your current job well is a prerequisite to any promotion you might hope to achieve. The old maxim of ‘plan in months, dream in years, act in days’ resonates strongly with me.

Secondly, I made a choice to try roles that scared me. Often, others can see your potential more clearly than you can in the moment—and it’s important to trust them when opportunities arise. In fact, I’m not sure I’ve ever stepped into a role feeling completely confident I could do it from day one. There’s always been some degree of self-doubt, and with hindsight, I’ve come to see that as a positive. That doubt usually signals that there’s something new to learn or a skill to develop—and that’s what keeps you sharp. A career, after all, should be a continuous learning journey.

You joined Lowell Group as CFO in 2013, becoming CEO in 2019, was that always the plan?

Absolutely not! One of the reasons I joined Lowell was because of James Cornell, Lowell’s co-founder and at the time the CEO. James was, and still is, a force of nature – someone who gets things done and wants people to enjoy the journey with him. I knew we’d make an awesome CEO/CFO team and as far as I was concerned when I joined, we were going to be partners for the entirety of my tenure. I learnt so much from James – it’s not often someone grows with a business that goes from start up to a billion pounds EV and still retains that personal touch.

When James decided it was the right time for him to leave, my immediate instinct was to say no to the CEO role when Permira, our largest shareholder, asked me to transition. I wanted to make sure we both felt it was right rather than being a decision of convenience. Looking back, it was very much a sliding doors moment – one I’m delighted that serendipity provided me!

As Group CEO leading 4,000 colleagues across nine countries, how do you approach aligning global strategy while respecting local market dynamics?

My job is ultimately a simple one. I ensure we have appropriate levels of capital and appropriate capital allocation between our regions; seek to recruit and motivate the best possible people we can attract to our local executives; and I then try to empower and challenge them to do more than they think they might be able to. I’m a firm believer that the local executives should have autonomy in all things operational. They are after all a lot closer to our consumers, clients and colleagues than I can ever hope to be. That said, there has to be things that unite us strategically – like a restlessness for improvement, a consistent focus on our colleagues and appropriate consideration of risk and reward.

Lowell is one of the largest Credit Management Services businesses in Europe. What do you believe sets the Group apart in such a competitive landscape?

Lowell is a business of real scale—we generate over £500 million in cash EBITDA, manage assets exceeding £3billion, and employ 4,000 people. That size brings certain advantages, particularly when it comes to economies of scale and data insights. Interacting with as many customers as we do means we really understand them as individuals but also the portfolios we purchase and service incredibly well.

But scale and data alone don’t set you apart in a market as competitive as ours. What differentiates Lowell is our focus I think in three key areas. Firstly, a relentless focus on operational performance. We’re obsessive about performance and continuous improvement. We track operational metrics rigorously and have embraced digital tools, data analytics, robotics, and AI to drive efficiency and improve outcomes—for both clients and customers.

Secondly, good strategic discipline. We’ve pursued a consistent strategy over time. We don’t make investments we don’t fully understand, and we don’t enter markets where we haven’t rigorously assessed the risk–reward dynamics. That focus has helped us build a stable, resilient business.

And finally, our people and culture. It might sound like a cliché, but our people really do set us apart. We’ve cultivated a high-performance culture—one that sets ambitious standards but also supports individuals to grow and succeed. It’s not for everyone, but for those who thrive here, it’s a place where they can do the best work of their careers.

Transitioning from CFO to CEO often requires a shift in mindset. How did you navigate that change, and what aspects of your financial background still influence your leadership style today?

The change was perhaps not as great as you might expect as I’d previously undertaken a large non-Finance role when I led HSBC’s contact centres in the UK (and indeed those in India and Malta). It was a fascinating challenge leading over 10,000 people from very different cultures.

That said, when making the transition from CFO you have to remember your numerical background is both a curse and a blessing. On the one hand, people have only really seen you playing one role, so you have to visibly show you can do the more people orientated aspects of the job. On the flip side, you come into the job with a deep understanding of how the business makes money, and this commerciality, along with an ability to read and remember numbers, enables you to cut to the heart of many debates quickly.

Over the years, who have been the most influential mentors or figures in your career—and what advice or guidance from them has stuck with you?

My time at Andersen’s enabled me to benefit from exposure to so many fantastic business leaders. Paul Feechan was an audit partner who helped me understand you have to have passion for what you do. He held a mirror up and helped me see my heart was not in audit. He also helped me by introducing me to Risk Consulting and Anthony Farnworth. It was a seminal moment as Tony then helped me understand how we’re judged every day by what we do and what we produce. Every email or report is a representation of who you are, so you need to make them count. One thing that united Paul and Tony was that both were accessible leaders, and their approachability is something I’ve tried to replicate.

In HSBC, I enjoyed some exposure to Antonio Simoes and wish we’d had the opportunity to work more together. He’s a gifted communicator, and he continues to show you don’t need to lose authenticity when you take on large leadership positions. More recently, I’ve benefitted from having a fantastic chair to support and challenge me – Andy Green. Andy is calm, thoughtful and consistently advocates for both creating time to think and time to recover away from work.

What’s been the most significant transformation or milestone for Lowell during your time as CEO, and what did it take to deliver it successfully?

There’s been so many milestones over the last 12 years. Milestones associated with growth, with M&A and with changes in equity ownership. Each of our refinancing’s has also been significant in their own way. The greatest transformation however has been the development of the business over time. It’s a change that has happened gradually and almost by stealth. When I joined, we were UK only, focused singularly on debt purchase, and consisted of around 600 colleagues. Now, we are across the nine countries you’ve referenced and offer clients a variety of services – ranging from invoicing, payment reminders, third party collection as well as debt purchase. We have also changed the way we access the market – we continue to use our own balance sheet to fund purchases but also partner with various third parties to enable us to expand our market reach – this enables us to access deals we might not otherwise have gone after and then benefit from servicing the portfolios.

How we engage with our customers has also changed massively. When I joined, we were almost singularly a contact centre proposition. Fast forward to today and most of our customer interaction is digital. We now offer customers the opportunity to engage online, through our app and through live chat. Voice will always be important because of what we do but the transformation to being a digital first business has also been significant. The business has become significantly more varied over time, and delivering success has required both the patience and the backing of supportive investors who recognise how meaningful achievements are rarely easy. We’ve been lucky to have both Permira and OTPP in this regard.

You’ve led teams through change, growth, and complexity. What’s your approach to guiding and developing future leaders within the business?

Much of what I do is behind the scenes in that talent management is as much a business process as it is often an individual conversation. We’ve spent considerable time over the years as a Group Executive sharpening our conversations about who we deem to be talent, what opportunities we can give them for development and what feedback will most help their growth. We’ve rolled out various formal training programmes across the group and embraced the role that online learning and virtual classes can play. 

Ultimately, the one thing which I can do to create the most value for the greatest number of people is to help maintain an inclusive environment in which people can be themselves (in a work context) and ensure opportunity is open to all. I’m as passionate about things such as gender equality as I am about financial results. We set ourselves a goal back in 2021 of having over 40% female representation in our senior team by 2025. Back then we were at just 33% despite having a predominantly female workforce, so we implemented various initiatives to seek a better balance – meaningful interventions which that women now represent 42% of our Groupwide leadership team. Outside of offering support and feedback one on one, this is how I can best facilitate the development of future leaders within our business.

Culture is often the unseen driver of performance. How would you describe the culture you’ve helped shaped at Lowell, and how do you keep it consistent across a multinational business?

You’ll probably guess from my previous answer that meritocracy matters, but so too does creating an environment in which people have equal opportunity. Our people describe our culture as fast paced and I think they’re right, but I’d also say it’s one that rewards loyalty and focuses heavily upon the customer.

Communication matters, and we’ve invested a lot of time and cash to ensure our internal and external communications resonate. Internally we think a lot about the various mediums we can use to engage our people. Externally, we think a lot about the brand and how best to encourage our customers to take that difficult first step when they are struggling with debt. You have to remember that our customers are not customers by choice. Our challenge has therefore been to build a brand they can trust, and critically, want to engage with. This is more than marketing – everything we do is centred around helping customers to speak with us and find solutions to their debt problems.

Sometimes this will mean their debt is written off, sometimes we will put our collection efforts on hold and wait until their circumstances change, while other times we will seek to set up affordable payment plans. We only use litigation as a last resort and firmly believe in trying to find mutually beneficial solutions. It’s in no one’s interests to pursue a debt that will never be repaid. People in debt need to be treated with respect and empathy. We know being in debt can be a lonely place. And while there’s always opportunities for improvement, the fact that we’ve now had over 50,000 TrustPilot reviews in the UK, with an average score of 4.3, shows we’re doing something right. We want our customers to feel that they are seen, heard, but above all else, supported. This is why around 10million customers have become debt free during my tenure.

Having this purpose and being part of an organisation that exists to make credit work better for all, is central to our culture. It also helps explain why we have an average tenure of over nine years in the Nordics for example and why 73% of our colleagues say their work is meaningful… People want to work in vibrant cultures that offer opportunities for development, but they also want to work in organisations in which they appreciate they are part of something bigger and that their work contributes to our collective success.

Looking to the future, what excites you most about the direction Lowell is heading, and what legacy do you hope to leave as CEO?

Blimey, talking about legacy makes me sound like I’m either about to retire or about to be moved on! I’ll leave it to others to talk about the impact I’ve had, but I’d hope colleagues simply look back upon their time at Lowell as some of the best in their career. I believe this business can continue to reinvent itself, while also making a difference to both those suffering with problem debt and those that chose to work here.

I don’t have a crystal ball, but there’s still plenty we can do to strengthen our competitive edge across all markets—particularly through the smarter use of AI. We’ll continue to expand the range of services we offer to clients; while also helping millions more people find sustainable ways to manage and repay their debts. That’s why we’ve developed such things as a benefits calculator for UK customers and provide free access to their credit score via our app. At the same time, we’ll continue to advocate for improving both the understanding and management of problem debt. We want to remove the stigma of debt and will keep pushing for there to be higher standards in areas such as public sector collection practice. 

Of course, as a private equity-backed business, an investor exit will come at some stage—so the pace isn’t likely to slow down anytime soon. But honestly, I wouldn’t have it any other way.

And finally, an Iron Man. Is fitness a big part of your life and what possessed you to sign up for this mammoth challenge?

Being candid, I need something to stop me obsessing about work – I’ve always loved fitness and exercise and have run more half marathons and marathons than I care to remember. It’s all too easy to let work become all-consuming when you’re the CEO. I remember James telling me you have to be careful and find a release, not let the role consume the time you’d otherwise spend with friends and family.

He was right to call this out – it’s too easy to become obsessive and bring home the pressures of work. I’d love to pretend it’s not, but there’s no hiding from the fact that while the CEO role is brilliant in so many ways, it is nevertheless highly challenging and stressful – the buck ultimately stops with you – so the Ironman is a way for me to try and gain at least a semblance of balance.

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The past few years have presented a myriad of challenges for organisations, from economic uncertainty to technological disruption and global instability. As we move into 2025, C-suite executives must navigate a complex landscape to ensure success.

Key Priorities and Challenges Facing C-Suite Executives

When discussing the future priorities and challenges with our executive clients, several key themes have emerged. Revenue and profit growth, along with product/service optimisation, were identified as top priorities. However, a myriad of internal and external challenges threaten to hinder these objectives. Internally, adapting to and implementing new technologies and balancing sustainability with hybrid work have been significant concerns. Externally, emerging technologies, cybersecurity threats, talent shortages, and economic uncertainty pose significant risks.

Combatting the Challenges

With the rapid advancement of technology and the boom in sustainability initiatives, C-suite executives are actively investing in their development, despite busy schedules. Our clients are reporting that they’re taking the opportunity to upskill, recognising the importance of continuous learning in line with current developments. Soft skills, such as problem-solving, communication, and critical thinking, remain and will always be essential for navigating complex business challenges.

The Evolving C-Suite

As organisations evolve, so too does the C-suite. Emerging roles, such as Chief AI Officer, Chief Sustainability Officer, and Chief Diversity Officer, are gaining prominence. These roles reflect the increasing importance of technology, sustainability, diversity, and inclusion in the modern business landscape. We predict that the demand for these roles will continue to grow throughout 2025.

Succession Planning: A Strategic Imperative

Effective succession planning is crucial for ensuring business continuity and organisational success. C-suite executives should consider the following strategies:

• Identify and Develop Talent: Invest in leadership development programs to nurture future leaders.
• Build a Strong Talent Pipeline: Maintain a pool of qualified candidates to fill critical roles.
• Leverage Executive Search Firms: Partner with experienced executive search firms to identify and attract top talent.

Embracing the Change

Emerging technologies are reshaping the business landscape and the role of C-suite executives. As organisations become increasingly complex, leaders must adapt to a diverse range of challenges and opportunities. To drive sustainable growth, C-suite executives need to embrace technological advancements, foster innovation, and navigate the evolving regulatory landscape.

In the coming year, we anticipate that the C-suite will continue to evolve, with new roles emerging to address the complex challenges of the 21st century. By staying ahead of the curve, C-suite leaders can drive growth, create value, and shape the future of their business.

Need help finding the right C-suite leader for your organisation? Our executive search experts provide confidential and tailored solutions to meet your unique hiring needs.

In today’s dynamic business landscape, effective governance is more crucial than ever. A high-performing board acts as a strategic guide and vigilant overseer, ensuring a company’s success and sustainability. But what separates a good board from a truly exceptional one?

Here, we delve into the key characteristics that define a powerhouse board, drawing insights from leading experts:

1. A Shared Vision for Excellence

High-performing boards don’t settle for mediocrity. They establish a collective commitment to excellence, ensuring each member contributes their best effort (CEO Worldwide). This requires a culture of accountability: everyone owns their role in driving positive outcomes, and performance is regularly evaluated.

2. Composition Matters: Building a Strong Team

Just like any successful team, a board thrives on a diversity of skills and perspectives (Savvy Director Prep). Look for directors with a range of expertise – finance, marketing, technology, and industry knowledge – to create a well-rounded team capable of tackling complex challenges.

3. The Right Tools for the Job

Effective communication is paramount for a high-performing board. Utilise board management solutions to streamline meeting processes, ensure everyone receives timely information, and facilitate collaboration (eBoardsolutions).

4. Active Engagement, Not Passive Participation

A board member’s role goes beyond simply attending meetings. Exceptional boards cultivate a culture of active engagement (Forbes). This means coming prepared, asking insightful questions, and fostering open discussion, even when it involves pushing back on management ideas.

5. Transparency and Trust: The Cornerstones of Effective Governance

High-performing boards prioritise transparency and trust (CEO Worldwide). This involves ensuring stakeholders have access to relevant information and fostering a boardroom environment where open dialogue can flourish.

6. Sharpening the Saw: Continuous Improvement

Just like any competitive athlete, a high-performing board continuously seeks to improve its performance (Praxonomy). This might involve board self-assessments, adopting best practices, and regularly evaluating the effectiveness of the board structure and composition.

7. A Focus on Strategy: Setting the Course for Success

A high-performing board doesn’t just oversee day-to-day operations; it’s actively involved in setting strategic direction (CEO Worldwide). This involves understanding the organisation’s risk profile, developing a clear vision for the future, and holding management accountable for its execution.

Conclusion

By prioritising these key characteristics and continuously refining their approach, boards can become powerful drivers of organisational success. Remember, a high-performing board isn’t built overnight. It requires commitment, collaboration, and a shared vision for excellence.

The engineering and manufacturing sectors stand at the forefront of global transformation, driving innovation and shaping a sustainable future. As the world grapples with the dual demands of rapid technological advancement and environmental responsibility, building the next generation of infrastructure has become an imperative. This vision embraces smart, sustainable, and resilient systems designed to meet the challenges of tomorrow while addressing the needs of today.

Key Trends Shaping the Future of Infrastructure

Several key trends are shaping the future of infrastructure in engineering and manufacturing:

1. Digital Transformation:

• IoT and AI: The integration of IoT devices and AI algorithms is revolutionising how we monitor, control, and optimise infrastructure.
• Digital Twins: Creating virtual replicas of physical assets enables predictive maintenance and performance optimisation.
• Automation: Advanced robotics and automation technologies are streamlining production processes and improving efficiency.

2. Sustainability:

• Green Building: Sustainable construction practices are becoming increasingly important to reduce the environmental impact of infrastructure.
• Renewable Energy: Integrating renewable energy sources into infrastructure designs is crucial for a sustainable future.
• Circular Economy: Adopting circular economy principles can minimise waste and maximise resource efficiency.

3. Advanced Materials:

• Lightweight Materials: The development of lightweight materials is improving the performance and efficiency of infrastructure.
• Smart Materials: Materials with self-healing and adaptive properties are opening up new possibilities in infrastructure design.

Challenges and Opportunities

While these trends offer exciting opportunities, they also present significant challenges:

• Cybersecurity: Protecting critical infrastructure from cyber threats is paramount.
• Skill Gap: The industry faces a shortage of skilled workers, particularly in areas like AI, IoT, and robotics.
• Regulatory Hurdles: Navigating complex regulatory environments can hinder innovation and deployment.

To overcome these challenges, collaboration between industry, academia, and government is essential. By fostering innovation, investing in education and training, and creating supportive regulatory frameworks, we can unlock the full potential of the next generation of infrastructure.

The Role of Engineers and Manufacturers

Engineers and manufacturers play a pivotal role in shaping the future of infrastructure. They are responsible for designing, building, and maintaining the systems that underpin modern society. By embracing emerging technologies and sustainable practices, they can create innovative solutions that address global challenges.

Key areas where engineers and manufacturers can contribute:

• Smart Cities: Designing intelligent urban environments that optimise resource usage and improve quality of life.
• Renewable Energy Infrastructure: Developing and deploying renewable energy systems, such as solar, wind, and hydro power.
• Advanced Manufacturing: Utilising advanced manufacturing techniques, like 3D printing and additive manufacturing, to produce complex components and structures.

The next generation of infrastructure is an opportunity to reimagine what is possible. By harnessing technology, prioritising sustainability, and fostering collaboration across industries, we can create systems that are intelligent, resilient, and environmentally responsible. Engineers and manufacturers have a vital role to play, leading us toward a future where infrastructure not only meets human needs but also enriches our planet.

Finance transformation projects have become increasingly prevalent in the UK, as organisations seek to modernise their financial operations and improve efficiency. These projects can involve a wide range of initiatives, from implementing new technology systems to reorganising financial processes. This article will explore the key impacts of finance transformation projects in the UK, including their benefits, challenges, and best practices.

Benefits of Finance Transformation Projects

1. Improved Efficiency and Cost Reduction  

One of the most significant benefits of finance transformation projects is improved efficiency. By automating manual processes, such as data entry and reconciliation, organisations can reduce the time and resources required to complete tasks. Additionally, streamlining workflows can eliminate bottlenecks and improve overall process flow. This increased efficiency can lead to significant cost savings, as organisations can reduce the need for manual labour and allocate resources more effectively. For example, a company that implements a robotic process automation (RPA) solution to automate repetitive tasks can reduce processing time by up to 80%. This can result in significant cost savings and improved productivity.

2. Enhanced Decision Making

Access to real-time data and analytics is another key benefit of finance transformation projects. By leveraging advanced data analytics tools, organisations can gain valuable insights into their financial performance, identify trends, and make more informed decisions. For example, a company can use predictive analytics to forecast revenue and expenses, enabling them to proactively manage their finances and make necessary adjustments. Furthermore, real-time data can help organisations identify potential risks and take corrective action before they escalate. For instance, a company can use fraud detection tools to identify suspicious activity and prevent financial losses.

3. Improved Risk Management

Effective financial controls and risk management practices are essential for protecting an organisation’s financial health. Finance transformation projects can help organisations implement robust financial controls, such as segregation of duties and regular audits, to mitigate risks and prevent fraud. Additionally, advanced risk management tools can help organisations identify and assess potential risks, develop mitigation strategies, and monitor their effectiveness. For example, a company can use a risk management software to create a risk assessment matrix, identify key risks, and develop mitigation plans. By proactively managing risks, organisations can protect their assets, enhance their reputation, and comply with regulatory requirements.

4. Regulatory Compliance

Finance transformation projects can also help organisations meet regulatory requirements and avoid costly penalties. Many industries have strict financial reporting and compliance standards, and failure to comply can result in fines, penalties, and damage to the organisation’s reputation. By implementing new systems and processes that automate compliance tasks, organisations can reduce the risk of errors and ensure that they are meeting all relevant regulations. For example, a company in the financial services industry can implement a compliance management software to automate regulatory reporting and ensure adherence to industry standards. By investing in finance transformation projects, organisations can demonstrate their commitment to good governance and compliance.

5. Enhanced Customer Experience

Finally, finance transformation projects can help organisations provide better customer service and support. By improving financial processes, organisations can reduce processing times, improve accuracy, and provide customers with more timely information. For example, a company can implement a self-service portal that allows customers to access their account information and make payments online. This can improve customer satisfaction and reduce the workload on customer service teams.

Challenges of Finance Transformation Projects

Despite the numerous benefits, finance transformation projects can also present challenges. One common challenge is resistance to change from employees who may be reluctant to adopt new processes or technologies. Another challenge is data quality issues, as poor data can hinder the effectiveness of new systems and analytics tools. Additionally, finance transformation projects can be costly and complex, requiring careful planning and execution. Integrating new systems with existing IT infrastructure can also be challenging and time-consuming.

Best Practices for Successful Finance Transformation Projects

The path to a successful finance transformation is paved with strategic planning and careful execution. Here are the essential best practices to guide your journey:

1. Clear Objectives: Define clear objectives and goals for the project to ensure alignment with the organisation’s overall strategy.
2. Robust Project Management: Implement a robust project management methodology to manage timelines, budgets, and resources effectively.
3. User Engagement: Involve end-users in the project planning and implementation process to address their concerns and ensure buy-in.
4. Data Quality Management: Prioritise data quality initiatives to ensure accurate and reliable data for decision-making.
5. Continuous Improvement: View finance transformation as an ongoing process and focus on continuous improvement to maximize benefits.

By understanding the benefits, challenges, and best practices associated with finance transformation projects, UK organisations can make informed decisions about how to modernise their financial operations, achieve their strategic objectives and position themselves for long-term success.

In today’s rapidly evolving business landscape, organisations often face unexpected leadership vacancies that can disrupt operations and strategic initiatives. To address these challenges interim executives have become increasingly sought after. These experienced professionals offer a unique blend of strategic expertise, operational excellence, and flexibility, making them invaluable assets for organisations seeking transformative growth.

Identifying and attracting top-tier interim talent requires a nuanced understanding of the unique dynamics of interim roles and a strategic approach to recruitment that transcends traditional hiring practices. This article explores key strategies for successful interim executive recruitment, providing insights into how organisations can effectively identify and attract the best candidates for these pivotal positions.

Understanding Interim Business Leaders

Interim business leaders are seasoned executives who provide temporary leadership to organisations during times of transition, growth, or crisis. They typically work on a contract basis, offering their expertise for a specific period or project. Unlike permanent executives, interim leaders bring a fresh perspective and can be quickly deployed to address pressing challenges.

Key Roles of Interim Business Leaders

Interim business leaders play a crucial role in driving transformative growth by:

• Leading Strategic Initiatives: They can develop and implement strategic plans to position organisations for long-term success.
• Driving Operational Excellence: Interim leaders can streamline processes, improve efficiency, and enhance organisational performance.
• Navigating Change: They can effectively guide organisations through periods of transition, such as mergers, acquisitions, or restructuring.
• Filling Leadership Gaps: Interim executives can temporarily fill leadership roles, providing stability and continuity during times of uncertainty.
• Providing Expert Guidance: They can offer valuable insights and advice on a wide range of business issues, from financial management to marketing and sales.

Benefits of Engaging an Interim Business Leader

1. Flexibility and Scalability 

Interim leaders offer unparalleled adaptability, seamlessly adjusting to evolving business needs. This flexibility allows organisations to scale up or down their leadership resources as required, avoiding the overhead costs associated with hiring and firing permanent employees.

2. Cost-Effectiveness

Engaging an interim leader can be a cost-effective solution compared to hiring a permanent executive. Interim leaders are typically engaged on a contract basis, eliminating the need for onboarding and benefits costs. This is particularly advantageous for addressing short-term or project-based needs, avoiding the long-term commitment of hiring a permanent employee.

3. Objectivity and Fresh Perspective

Interim leaders bring a fresh perspective and can provide unbiased guidance, free from the biases and preconceptions that may cloud the judgment of internal employees. Their objectivity can lead to innovative solutions and improved decision-making.

4. Rapid Deployment

Interim leaders can be quickly deployed to address urgent challenges, minimising disruptions and ensuring business continuity. This rapid deployment capability is particularly valuable during times of crisis or transition, as it allows organisations to swiftly implement necessary changes.

5. Reduced Risk

Interim leaders can help mitigate risks associated with organisational change, such as mergers, acquisitions, or restructuring. They can assess potential risks and develop strategies to minimise their impact, providing a valuable safety net for organisations navigating uncertain times. Moreover, interim leaders can effectively manage crises, ensuring a swift and appropriate response.

Key Considerations for Engaging an Interim Business Leader

When considering an interim business leader, it’s important to:

• Clearly Define Your Needs: Clearly articulate your organisation’s goals and challenges.
• Assess Experience and Expertise: Look for an interim leader with the relevant experience and skills to address your specific needs.
• Cultural Fit: Ensure that the interim leader’s values and style align with your organisation’s culture.
• Contractual Terms: Clearly define the scope of work, compensation, and duration of the engagement.
• Ongoing Communication: Maintain open and regular communication with the interim leader to ensure alignment and address any issues that may arise.

Conclusion

Interim business leaders can be a valuable asset for organisations seeking transformative growth. By leveraging their expertise, flexibility, and objectivity, companies can navigate challenges, drive innovation, and achieve their strategic goals.

In today’s fast-paced and competitive business landscape, the success of an organisation often hinges on the performance of its teams. High-performance teams are more than just groups of individuals working together; they are cohesive units that collaborate effectively, achieve shared goals, and continuously strive for excellence.

Key Components and Strategies for Building High-Performance Teams

A high-performance team is defined by several key components that contribute to its success. Creating such a team necessitates a deliberate, strategic approach. Here are some effective strategies to consider:

1. Clear Goals and Objectives 

A well-defined purpose and shared vision are essential for aligning team members and fostering a sense of direction. To achieve this, it’s crucial to set SMART goals (Specific, Measurable, Achievable, Relevant, Time-bound) that align with the team’s overall mission. Regularly reviewing and adjusting these goals ensures they remain relevant and achievable, keeping the team focused and motivated.

2. Strong Leadership

Effective leadership is crucial for guiding, motivating, and empowering team members. By creating a positive and supportive environment, leaders can foster a sense of belonging and encourage collaboration. To achieve this, it’s important to empower team members by delegating tasks and responsibilities, providing coaching and mentoring, and addressing conflicts promptly and fairly. This approach helps to create a positive and productive team environment where everyone feels valued and supported.

3. Effective Communication

Effective communication is essential for building trust, resolving conflicts, and ensuring that everyone is on the same page. Open and honest communication helps to prevent misunderstandings and promotes a sense of transparency. To achieve this, it’s important to practice active listening, encourage open communication through an open-door policy, and establish regular feedback channels like one-on-one meetings or team retrospectives. This will foster a culture of open dialogue and understanding within the team.

4. Shared Values and Culture

A strong team culture can foster a sense of belonging, loyalty, and commitment, contributing to the team’s overall success. When team members share common values and beliefs, they are more likely to work together cohesively and support each other. To cultivate a positive team culture, it’s essential to model the desired behaviour and values, recognise and reward positive contributions, and address negative behaviours promptly. This will create a supportive and productive environment where team members feel valued and motivated.

5. Addressing Negative Behaviours

Addressing negative behaviours promptly and consistently is crucial for maintaining a healthy team culture. Negative behaviours can erode trust, hinder collaboration, and diminish morale. When addressing negative behaviour, it’s important to be specific, have a private conversation, focus on the behaviour rather than the person, provide constructive feedback, and follow up to ensure improvement. By taking these steps, leaders can create a positive and productive team environment where everyone feels valued and respected.

6. Diversity

Diversity in skills and perspectives is a powerful asset to a team. When individuals from different backgrounds and experiences come together, they bring unique viewpoints, problem-solving approaches, and creative ideas to the table. This diversity can lead to increased innovation, improved decision-making, enhanced problem-solving, better cultural understanding, and increased adaptability. By embracing diversity and leveraging the unique contributions of each team member, organizations can create more dynamic, innovative, and successful teams.

7. Mutual Trust and Respect

Mutual trust and respect are essential for fostering collaboration, cooperation, and a positive work environment. When team members trust and respect each other, they are more likely to be open to feedback, willing to help each other, and committed to the team’s success. To build trust, it’s important to demonstrate vulnerability by sharing your own challenges and mistakes, show empathy and understanding for the experiences of others, and be transparent and honest in your communication. This will create a supportive and collaborative environment where team members feel safe and respected.

8. Continuous Learning and Development

Continuous learning and development are essential for maintaining a high-performing team. By investing in the professional development of team members, organisations can help to improve their skills, knowledge, and performance. To achieve this, it’s important to create personalised development plans for each team member based on their goals and needs, establish mentorship programs to connect experienced team members with newer ones, and provide opportunities for team members to attend external training and conferences. This will foster a culture of learning and growth, ensuring that the team remains adaptable and competitive.

9. Accountability and Performance Management

Accountability and performance management are essential for ensuring that team members are accountable for their work and that their performance is aligned with the team’s goals. To achieve this, it’s important to set clear expectations, provide regular feedback, and conduct regular performance reviews to assess progress and provide feedback. Additionally, tying rewards and recognition to performance can motivate team members and implementing accountability systems, such as performance metrics or project tracking tools, can help to ensure that team members are held accountable for their work.

10. Recognition and Rewards

Recognising and rewarding team members for their contributions is essential for boosting morale, motivation, and performance. By acknowledging the hard work and achievements of team members, organisations can create a positive and supportive work environment. To achieve this, it’s important to recognise team members publicly for their achievements, tailor rewards to individual preferences, and celebrate team successes with group rewards. This will foster a sense of appreciation, motivation, and unity within the team.

Conclusion

Building high-performance teams is an ongoing process that requires consistent effort and attention. By focusing on the key components outlined above and implementing effective strategies, organisations can create teams that are capable of achieving great things.

Interim executives play a crucial role in organisations, providing temporary leadership during times of transition or crisis. To be successful in this role, interim executives must possess a unique combination of skills and qualities. In this article, we will explore the essential traits that define exceptional interim executives.

Rapid Adaptability

Interim executives often find themselves thrown into unfamiliar environments with short notice. The ability to quickly adapt to new cultures, challenges, and situations is essential. They must be comfortable with ambiguity and able to thrive in fast-paced, dynamic environments.

Strategic Thinking

Interim executives need a strategic mindset to navigate complex organisational challenges. They must be able to see the big picture, anticipate potential obstacles, and develop effective plans to achieve organisational goals. Strategic thinking allows them to make informed decisions and guide the organisation towards success.

Effective Communication

Strong communication skills are vital for interim executives. They must be able to articulate their ideas clearly and persuasively, build relationships with stakeholders, and influence others. Effective communication is essential for driving change, motivating teams, and ensuring alignment within the organisation.

Results Orientated

Interim executives are driven by results. They have a strong focus on achieving measurable outcomes and delivering value to the organisation. They are not afraid to take risks or make difficult decisions to achieve their objectives.

Resilience and Flexibility

The role of an interim executive can be demanding and unpredictable. Resilience and flexibility are essential qualities for navigating challenges and setbacks. Interim executives must be able to remain calm under pressure, adapt to changing circumstances, and maintain a positive outlook.

Emotional Intelligence

Emotional intelligence is vital for understanding and managing relationships within an organisation. Interim executives must be able to build trust, motivate teams, and resolve conflicts effectively. They need to be empathetic, self-aware, and able to manage their own emotions.

Strong Work Ethic

Interim executives are dedicated and hardworking individuals who are committed to their roles. They are willing to put in the extra effort to achieve success and are not afraid to go the extra mile.

Continuous Learning

The business landscape is constantly evolving, and interim executives must be able to stay relevant. They must be committed to continuous learning and professional development to acquire new skills and knowledge. This will enable them to adapt to changing trends and remain effective in their roles.

Conclusion

Interim executives possess a unique combination of skills and qualities that make them invaluable assets to organisations. By understanding these essential traits, you can identify and attract the best talent for your company’s needs.

In today’s fast-paced business environment, retaining top talent is more crucial than ever, especially when it comes to your Chief Financial Officer (CFO). With many opportunities available to experienced finance leaders, it’s vital for business leaders to know how to safeguard their top finance talent. Here’s how to ensure your CFO remains a key part of your leadership team.

Understanding the Appeal of New Opportunities for CFOs

Chief Financial Officers (CFOs) are pivotal leaders within organisations, often balancing the demands of financial stewardship with the need to drive strategic growth. When considering new opportunities, CFOs are typically drawn to roles that offer not just monetary benefits but also the chance to engage with dynamic challenges that align with their professional ambitions and skill sets.

Understanding the following factors is crucial for companies looking to attract and retain top CFO talent. By recognising what makes new opportunities appealing to CFOs—whether it’s the challenge of leading a major transformation, the chance to shape business strategy, or the desire for a focused leadership role—organisations can better align their offerings with the motivations of their financial leaders. This alignment not only helps in attracting the right candidate but also ensures that they remain engaged, motivated, and committed to the company’s success over the long term.

Dynamic Challenges and Professional Growth

CFOs thrive in environments that push their limits and allow them to leverage their expertise in solving complex financial problems. New opportunities that involve leading significant business transformations, managing mergers and acquisitions, or navigating volatile economic conditions are particularly attractive. These scenarios offer CFOs the chance to leave a lasting impact, honing their strategic skills and enhancing their professional reputation. They seek roles that require them to think critically, innovate, and make tough decisions that can shape the future of the company.

Influence on Business Strategy

One of the primary appeals for CFOs in any role is the ability to influence the direction of the company. CFOs are not just number crunchers; they are strategic leaders who want to play a key role in shaping the company’s future. Opportunities that allow them to work closely with the CEO, board members, and other senior executives in formulating and executing business strategies are highly desirable. The chance to contribute to the overall vision of the company and drive long-term success can be a significant factor in attracting and retaining top financial talent.

Potential for Significant Financial Rewards

While professional challenges and strategic influence are crucial, financial rewards remain a significant motivator. CFOs are often attracted to roles that offer competitive compensation packages, which may include performance bonuses, equity stakes, or long-term incentive plans. These rewards not only reflect their value to the organisation but also align their personal financial success with the company’s performance, thereby increasing their commitment to the role.

Strategic Financial Leadership Over Operational Management

CFOs often seek roles that allow them to focus on strategic financial leadership rather than getting bogged down by operational or external-facing responsibilities. For instance, a CFO may prefer a role where they can concentrate on capital allocation, financial planning, and risk management, rather than day-to-day operational tasks or investor relations. This focus enables them to apply their expertise where it can make the most significant impact, driving financial performance and supporting the company’s growth objectives.

Long-Term Career Alignment and Personal Values

Finally, the appeal of a new opportunity for a CFO also depends on how well it aligns with their long-term career goals and personal values. CFOs are increasingly looking for roles in companies whose missions resonate with their own beliefs, whether it’s a commitment to sustainability, innovation, or corporate social responsibility. A role that offers a clear path for career advancement, continuous learning, and the chance to work in an environment that matches their personal values can be particularly compelling.

Ensuring CFO Retention by Understanding Their Motivations

Understanding these factors is crucial for companies looking to attract and retain top CFO talent. By recognising what makes new opportunities appealing to CFOs—whether it’s the challenge of leading a major transformation, the chance to shape business strategy, or the desire for a focused leadership role—organisations can better align their offerings with the motivations of their financial leaders. This alignment not only helps in attracting the right candidate but also ensures that they remain engaged, motivated, and committed to the company’s success over the long term.

Strategies to Retain Your CFO

With the right approach, you can keep your top finance talent from being lured away by competitors. Here are some effective strategies to help retain your CFO and finance leaders:

1. Competitive Compensation Packages

While it’s not all about the money, offering a competitive compensation package is essential. Review your current salary and benefits against industry benchmarks. Consider bonuses, stock options, and other financial incentives that align your CFO’s success with the company’s performance.

2. Clear Career Development Paths

Ensure that your CFO sees a clear and appealing career path within your organisation. Discuss their long-term goals and aspirations and provide opportunities for professional growth and advancement. This can include leadership training, mentorship programs, and exposure to new areas of the business.

3. Increased Responsibilities and Influence

CFOs thrive on challenges and opportunities to make a significant impact. Engage your CFO in strategic decision-making and involve them in high-level discussions. Giving them a seat at the table can reinforce their importance to the company and provide a sense of ownership and fulfilment.

4. Strong Company Culture and Values

A positive company culture and strong values can be powerful retention tools. Ensure your CFO feels connected to the company’s mission and values, and foster a work environment that promotes collaboration, innovation, and respect. Regularly acknowledge and celebrate the contributions of your finance team.

5. Work-Life Balance and Flexibility

Offering flexible working arrangements and promoting a healthy work-life balance can help reduce burnout and increase job satisfaction. Show your CFO that their well-being is a priority for the company.

6. Recognition and Appreciation

Regularly recognise and appreciate the contributions of your CFO. Public acknowledgment, awards, and simple expressions of gratitude can go a long way in making them feel valued and motivated. Ensure that your CFO knows their efforts are appreciated by the leadership and the entire organisation.

Conclusion

In an environment where top finance talent is in high demand, retaining your CFO requires a proactive and strategic approach. By understanding what drives your CFO and implementing effective retention strategies, you can ensure they remain a valuable asset to your company for years to come.

For more expert advice and assistance reach out to our team of specialists on 01709 303 330. Parkinson | Lee Executive Search are here to help with your financial leadership needs.

In today’s corporate landscape, integrating ESG (Environmental, Social, Governance) principles into workplace policies isn’t just a trend—it’s a necessity. As a Chief People Officer (CPO), your role is pivotal in fostering a sustainable and ethical work environment. ESG isn’t just about compliance; it’s about driving long-term value, building trust with stakeholders, and positioning your company as a leader in responsible business practices.

ESG stands for Environmental, Social, and Governance, encompassing a range of considerations crucial for ethical corporate decision-making. Initially, ESG metrics assessed ethical investment practices, but they now serve as a broader framework for corporate ethics. Many experts have added sustainability as a core element, emphasising its importance in maintaining long-term profitability.

Understanding ESG: What It Really Means

E for Environment: Focuses on managing environmental risks, resources, and climate change. Historically driven by reputation, environmental considerations are now vital due to legislation and climate risk. Some hot topics in this area include greenwashing (misleadingly boosting green credentials), environmental whistleblowing (reporting environmental threats) and green clauses (embedding green practices in corporate policies).

S for Social: Evaluates a company’s societal relationships, covering employment, health and safety, and DEI (Diversity, Equity, and Inclusion). Strong social strategies enhance company reputation and workplace productivity.

G for Governance: Involves corporate policies, stakeholder rights, and management. Governance ensures effective dissemination of ESG strategies and compliance with legislative changes.

Why ESG Matters for HR

Since its inception in 2006, ESG has become a key topic in boardrooms globally. Effective ESG implementation builds stakeholder trust, attracts capital, and mitigates reputational risk. Thus, ESG fluency is crucial for navigating responsible business practices. In HR and employment law, the focus often lies on the ‘Social’ pillar due to its direct impact on people. However, ensuring a balanced approach including environmental and governance consideration is key to driving positive change within your organisation…

1. Environmental Stewardship: Implement green initiatives, reduce carbon footprints, and promote sustainable practices. Consider incorporating “green clauses” in employee contracts and encouraging eco-friendly behaviours.
2. Social Responsibility: Focus on diversity, equity, and inclusion (DEI), ensuring fair treatment and opportunities for all employees. Enhance employee well-being and create a supportive, inclusive workplace culture.
3. Governance Excellence: Develop robust corporate policies, ensure transparent decision-making, and uphold stakeholder rights. Stay informed about legislative changes and align your governance practices accordingly.

The HR Advantage

In today’s competitive business landscape, integrating strong ESG (Environmental, Social, Governance) principles can provide significant advantages. Here’s how ESG can make a significant impact:

• Attracting Top Talent: Employees, particularly millennials and Gen Z, prioritise working for companies with strong ESG commitments. Demonstrating a genuine dedication to environmental stewardship, social responsibility, and ethical governance can attract and retain talent who share these values.
• Enhancing Company Reputation: Embracing ESG practices enhances your brand’s reputation. It shows stakeholders—employees, customers, investors—that your company is committed to making a positive impact beyond profits. This can differentiate your organisation from competitors and foster trust and loyalty.
• Mitigating Risks: Proactively managing environmental and social risks can prevent future liabilities and regulatory challenges. Addressing governance issues promotes transparency and ethical behaviour, reducing the likelihood of compliance issues or reputational damage.
• Driving Innovation and Efficiency: ESG initiatives often spur innovation by encouraging creative solutions to sustainability challenges. Adopting sustainable practices can also lead to operational efficiencies and cost savings over time.
• Meeting Stakeholder Expectations: Investors increasingly consider ESG criteria when evaluating companies. By aligning with these expectations, you can attract investment and secure long-term financial stability.

Action Steps for CPOs

As a CPO, you can champion ESG integration by:

1. Assess and Align: Evaluate current policies and practices against ESG criteria. Identify areas for improvement and align your HR strategy with broader ESG goals.
2. Engage and Educate: Involve employees in ESG initiatives and provide training to raise awareness and commitment across the organisation.
3. Set Clear Goals and Metrics: Establish measurable ESG objectives aligned with business strategy to track progress and demonstrate impact.
4. Collaborate Cross-Functionally: Work with other leaders to embed ESG principles into company policies, operations, and decision-making processes.
5. Measure and Report: Report on the progress of the aforementioned metrics to stakeholders transparently.

By embedding ESG into your HR strategy, you can lead your company towards a sustainable future while driving positive social and environmental change. Embrace this opportunity to make a meaningful impact!

In today’s data-driven world, Artificial Intelligence (AI) is rapidly transforming industries. As companies scramble to leverage this powerful technology, a new C-suite role is emerging: the Chief AI Officer (CAIO). But is this position a strategic necessity or simply a trendy title?

The CAIO as a Strategic Visionary

There’s a compelling case to be made for the CAIO as a strategic lynchpin. The Chief AI Officer (CAIO) is a rapidly evolving role, but its growth trajectory suggests it’s more than just a passing trend. A recent McKinsey & Company report highlights the surge in generative AI adoption, emphasising the need for leadership in navigating this powerful technology. Companies are scrambling to keep pace, and a 2024 SAP customer survey found that over 96% of respondents have executive mandates to explore or implement AI. This surge in AI initiatives underscores the growing recognition of its strategic importance at the C-suite level, potentially leading to a significant rise in CAIO positions.

While data on the exact number of CAIOs might be limited, there is an emerging trend in the publications of news articles discussing the increasing demand for this role. With AI transforming industries at an unprecedented pace, the CAIO is poised to become a critical figure for organisations seeking to harness its potential and navigate the complexities of responsible development.

The Rise of the CAIO: Trend or Tide?

While the CAIO role is still evolving, its growth trajectory suggests it’s more than a fad. Here are some indicators:

• Exponential Demand: The number of companies with CAIO positions has skyrocketed in recent years. This signals a growing recognition of the need for executive-level AI leadership.
• Competitive Advantage: In a world where AI innovation is fierce, having a dedicated leader can give companies a crucial edge. The CAIO can identify new opportunities and accelerate AI adoption.
• Managing Complexity: AI projects are inherently complex. The CAIO provides a central figure to navigate technical hurdles, manage cross-functional teams, and ensure successful implementation.

The Future of the CAIO

The CAIO role is poised for even greater prominence as AI continues to transform industries. We expect to see there be a rise in Industry-Specific CAIOs, as AI applications become increasingly specialised, companies may require CAIOs with deep industry knowledge. This expertise will be crucial for tailoring AI solutions to address the specific challenges and opportunities in each sector. Imagine a CAIO in the healthcare industry who understands the nuances of medical data and regulations, or a CAIO in finance who is well-versed in algorithmic trading and risk management.

Furthermore, we predict a focus on ‘Explainable AI’ whereby the CAIO will play a critical role in ensuring transparency in AI models. This means developing and implementing Explainable AI (XAI) techniques that allow us to understand how AI systems arrive at their decisions. This focus on explainability will be essential for building trust with stakeholders and ensuring the responsible use of AI across various applications.

The Bottom Line

The CAIO role is more than just a trendy title. It’s a strategic necessity for organisations that want to harness the full potential of AI and navigate the complex landscape of responsible development. As AI continues to evolve, the CAIO will become an even more critical figure in driving innovation and ensuring ethical implementation across industries.

The world of Non-Executive Directorships (NEDs) offers a compelling blend of intellectual challenge, strategic influence, and the opportunity to contribute to an organisation’s success. But for those seeking their first NED appointment, the path can seem daunting. Here are some effective strategies to help you stand out and secure that coveted boardroom seat:

Optimising Your Value Proposition for Competitive Advantage

Sharpening your value proposition is all about clearly communicating why someone should choose you. It’s like your personal elevator pitch, a concise and compelling statement that grabs attention and highlights what makes you unique and valuable.

Key Considerations for Effective Value Proposition Development:

• Self-Assessment: Conduct a thorough internal analysis to identify your core strengths and areas of expertise. This includes quantifiable skills, relevant knowledge, and demonstrably successful experiences.
• Industry Alignment: Research and understand the specific sectors where your expertise aligns best. Familiarise yourself with current industry trends, prevailing challenges, and the regulatory landscape. Demonstrating a keen grasp of these factors positions you as a strategic thinker who can offer immediate value.
• Tailored Messaging: Avoid a generic approach. Research and understand the specific needs and priorities of your target organisation. Tailor your value proposition to directly address those needs. This demonstrates a proactive understanding of their challenges and positions you as a solution-oriented provider.

By effectively articulating your value proposition, you establish yourself as a trusted advisor who can deliver impactful results. It allows you to confidently compete for opportunities and forge strong, mutually beneficial partnerships.

Cultivating a Robust Network for NED Opportunities

Building a strong network is crucial for success in securing Non-Executive Director roles. Your network serves as a springboard for opportunities, providing valuable connections and insights. Here are key strategies to cultivate a robust network that positions you for success:

Leveraging Existing Relationships:

• Reactivate Past Connections: Rekindle relationships with former colleagues, CEOs, and board members you’ve worked with previously. Reach out to reconnect and update them on your career goals, specifically your interest in NED opportunities. Express your desire for their advice and explore the possibility of introductions to relevant individuals or search firms.
• Harness the Power of Recommendations: Positive endorsements from individuals who respect your expertise can significantly enhance your candidacy. By fostering relationships with former colleagues, you increase the likelihood of securing strong recommendations when the time comes.

Targeting Industry Networks:

• Strategic Association Involvement: Joining industry associations demonstrates your commitment to the sector and provides access to a network of like-minded professionals. Actively participate in association events and committees to increase your visibility and build relationships with key decision-makers.
• Conference Connections: Attending industry conferences and events is an excellent way to connect with potential nominators and Executive Search Firms. Engage in meaningful conversations with attendees, participate in panel discussions, and exchange business cards to build valuable connections.

Keep a lookout on the Parkinson Lee LinkedIn page for upcoming industry events and discussion panels.

Embracing Online Platforms:

• Optimise Your LinkedIn Profile: LinkedIn is a powerful tool for professional networking. Craft a compelling profile that showcases your qualifications and aspirations for NED roles. Utilise relevant keywords and highlight your experience and expertise in a way that attracts board-level decision-makers. Join relevant industry groups on LinkedIn to engage in discussions and connect with potential collaborators.

Remember: Networking is a two-way street. Focus on building genuine relationships and providing value to your network. Be helpful, offer insights, and actively listen to the needs of your connections. By nurturing these relationships, you establish yourself as a trusted professional and increase your chances of securing NED opportunities through your network.

Become a Thought Leader

In today’s competitive landscape, standing out as a thought leader in your field can be a powerful asset. A thought leader is recognised as a trusted authority, someone who consistently offers valuable insights and shapes industry conversations. This esteemed position brings a multitude of benefits, including increased visibility and credibility, enhanced career opportunities, and the ability to influence and shape your industry.

Here are some examples to guide you on your journey to becoming a thought leader:

• Content is King: Publish articles in industry publications or your own blog. Share your insights on relevant topics, showcasing your expertise and passion for the field. This establishes you as a thought leader and positions you as a valuable addition to a board.
• Speaking Engagements: Volunteer to speak at industry events or conferences. Public speaking demonstrates your communication skills and allows you to connect with a wider audience of potential employers.

The road to thought leadership is paved with consistent effort, valuable content creation, and engaging presentations. By actively sharing your expertise and fostering connections with your audience, you’ll not only establish yourself as a trusted voice in your field but also position yourself as a highly sought-after candidate for NED appointments. Boards actively seek individuals who can bring fresh perspectives, industry knowledge, and strong communication skills – all qualities honed through your thought leadership journey. Remember, the learning and recognition gained on this path will propel you towards a fulfilling career and strategic influence within your industry, ultimately making you a prime candidate for a coveted NED position.

Craft a Compelling Personal Brand

Don’t underestimate the power of a well-crafted CV and a sharp personal pitch. Being able to articulate your unique contributions within seconds is a powerful tool for making a lasting first impression on potential board members.

• Invest in a Professional CV: Tailor your CV to highlight your NED aspirations. Focus on achievements that demonstrate strategic thinking, problem-solving, and board-level capabilities.
• Develop a Personal Pitch: Prepare a concise and impactful elevator pitch that captures your value proposition and career goals. Be ready to articulate your unique contributions in a clear and compelling manner.

Seek Professional Guidance

Finally, as you set your sights on a rewarding NED career, two key resources can significantly enhance your candidacy:

• NED Training and Development: Consider attending training programs specifically designed for aspiring NEDs. These programs equip you with the knowledge, skills, and governance best practices required for effective board service.
• Executive Search Firms: Connect with executive search firms specialising in NED placements. They can provide valuable insights into the market and connect you with potential board opportunities.

Remember, securing your first NED appointment is a marathon, not a sprint. Be persistent, refine your approach, and leverage these strategies to build a strong reputation and become the ideal candidate for that boardroom seat.

Alison’s extensive experience across a diverse range of sectors provides valuable insights for those seeking to build successful careers in financial leadership.In our conversation, Alison offers a candid perspective on her career advancement, emphasising the importance of humility in navigating both triumphs and challenges. We also explore Alison’s thoughts on gender parity in boardrooms and the ongoing dialogue surrounding female leadership capabilities.

First and foremost, how did you decide a career in finance was for you? 

I thought when I was younger, I was going to be a musician. I spent the whole of my childhood playing clarinet and saxophone, so I thought that was my destiny. But then my grandma said to me ‘You will have to be the absolute best clarinetist in the world to make a good living playing, so you need to go and do something else just in case’. So, at 17 I studied A-level economics and that was the start of my introduction to finance, and I loved it. It was like I found my calling in life, I found it very easy to learn and very easy to understand, I flew through my economics A-level and then went on to Leeds University to further my studies in economics.

I think it would be a surprise to you, but I’m not very good at maths! I love following rules, the black and white which I found very simple but in maths itself, I could never quite understand what the questions were asking me. I didn’t know what I was going to do after my degree so I went through a process of applying to different graduate schemes and then ended up as a Purchase Ledger Assistant at Prince’s. That’s how I started my finance career. 

Once you knew you wanted to pursue a career in finance, how did you approach planning your long-term career goals?

Throughout my career, I’ve always gone for opportunities that I thought would grow and develop my career, never really anything that’s been planned specifically. I always talk to my team about having pointy elbows, just get yourself involved. I always say to them “You might not think it’s your thing but just understand and learn more about a business, even if there’s no finance driver because there is always some kind of lens that lends itself to finance, in everything that goes on in the business. So get involved.” That’s always been my mantra.

Since 2006 you’ve held managerial positions, how have you continued to impact, inspire, and get the best from your team?

I think you develop that over the years, don’t you? In my first managerial role at Hallmark, I was petrified. I remember it because most of the people on my team were older and more experienced than me. I realised quickly that you don’t always have the answers for everything. I’m not a leader that tells people what to do, that’s not the way I manage. That’s not the way you get the best out of people, it’s more about coaching, but also being open to continuing to learn. I understand that a team is made up of different types of people, everybody’s different, the way that they develop is different, and you lead, coach, and manage accordingly. Having said that, it’s not just about the people who report directly to you, I’m also aware that my role has an impact on other people’s teams.

Is leadership and team management something that you have enjoyed throughout your career?

I certainly feel as though I’ve developed as a manager over the years, and enjoy it for sure. There are very different styles in terms of managers and leaders, I would say I like being a leader. I don’t necessarily like being a manager because I don’t like being managed and that’s the one thing that I have to be more accepting of, and that’s probably why I’ve strived to be at the top because, individually, I hate somebody telling me what to do daily and so I wouldn’t do that to my teams.

It’s all about setting the objectives and saying to my team that I want them to develop and hit certain milestones, but also saying to them, how you get there is your choice. I do enjoy it. The further up the ladder I’ve gone, the more interaction with people outside of finance becomes a larger part of my role. I think being able to influence somebody for instance in sales or commercial, when it’s more about mentoring and coaching is very rewarding.

What would you say has been your biggest achievement or the most exciting point in your career so far?

When I look back at my career there are lots of things that I feel proud of. I’ve been lucky to work in businesses that have been on a growth trajectory and be part of great teams at various levels that were driving success. I think sometimes people think that you’ve got these massive achievements because you’ve been in these big, branded, high-growth businesses, but it’s being part of a slow and steady, predictable growth; the challenge, the changes, and adapting to that ultimately. I’m really lucky that I’ve managed to be in a big business that started small, so I’ve had the opportunity to be part of that, which is great.

One of those growth journeys was with Shark Ninja. How would you describe the journey with them, and were there any key learnings for you during that period?

It was crazy when I started, they were a £55 million UK subsidiary of a US-based business and just in floor care. We had some ninja blending products but when I started that had been and gone. Having operated within a very successful US business, their key to success was bringing new products to market as fast as they possibly could with no fear of failure, the fear of launching just wasn’t a thing. We would test it, do reviews and it was just about making sure you were putting five-star consumer products in the market. That was proven in the US business, and it had been going along for a few years in the UK business but hadn’t managed to get traction because there were big brands in the UK, established brands, especially in floor care and it’s hard to get a retail presence. At that point .com was a big investment to start challenging, people believed that all purchases started in-store which was a mindset change. Amazon was on its way up, people were researching on Amazon and then coming to the store, and it was a big change in that retail market.

To get access in-store whether that be in Currys or Argos for example, you had to trade your way in because those retail partners had something to lose, it wasn’t necessarily incremental growth for them. Shark was a challenger brand challenging partnerships that were well established in that marketplace, so we had to justify and prove our position as an alternative to some of those big brands. We did well on the floor care side and got to about 40% market share based on one refined product, which was anti-hair wrap, a brilliant invention. Who knew that everybody in the world knows that hair gets blocked in your vacuum cleaner? It’s just amazing, it’s a very basic requirement that no other vacuum cleaner company had changed their product for, so we launched the anti-hair wrap, and it just went huge.

That’s a reason to buy, right? A reason to trade in whereas up until that point, it was either an aspirational buy with the brands at the top end or it was ‘Oh God, my vacuum cleaner is broken’. It was a desperation purchase, ‘Quick, quick, I need a new vacuum cleaner’ whereas with our product it was a reason to buy. We then brought cordless out, which was the reason to buy more than one, so suddenly you had households that had 2 or 3 vacuum cleaners, some upstairs, some downstairs. We started launching heated cooking products, with various levels of success. We’d brought out a small air fryer and then all of a sudden Covid hit, and everybody started buying Ninja products, and that accelerated the growth of the Ninja brand.

Is there any advice that you would give to aspiring number-one CFOs?

Certainly, aspiring CFOs need to think about building their network, I think building your network fairs you well for the future because you often have to call on the expertise of other people so building that network is always good. Also to be certain about what you want because you’re jumping up to a CFO role naturally there will be things that you have to take on that you haven’t done before whether you’ve come up through the technical finance or commercial routes.

Throw your hands to anything, and get stuck in. Believe in yourself and know with determination you can do anything. I’ve been in many situations where I’ve been out of my comfort zone, and I’ve proved to myself, I can do anything.

What would you say as a CFO do you find the most rewarding?

I think it’s having the ability to be outside of the finance lane. A lot of people say to me why don’t you go and be an MD? And that they would probably put me more in that role than the CFO. But my comfort is numbers, and my finance team. What I love having access to is the ability to challenge the market and work strategically across the entire business.

Shark Ninja gave me great exposure, there were three leads; myself, the E-Com Director, and the Sales Director. Between the three of us, we did everything in the business and it was a really good experience for me to be exposed to those kinds of things. I also enjoy telling the story, doing those quarterly business updates, and being the person who is sitting in front of the whole business talking to the people about the performance and about what’s next, what’s happened, what went well, and what the initiatives we are working on. I enjoy being the spokesperson.

One thing that you probably get more in the CFO role is communicating to external stakeholders, being that voice, and making sure that you’re telling a consistent and thorough story and representing your business which is something you don’t need to do when you’re internally focused. For example, we’ve just done a partner event with 50 of our top vendors which was a fantastic experience.

You’ve had an impressive career to date and have worked for some recognisable brands in interesting times of growth periods in travel, retail, etc. Are there any tips or recommendations that you could share for someone looking for a similar career path to yourself?

I would say be the master of your destiny, either in creating opportunities, or being brave and taking on the opportunities that are in front of you. Some things won’t work out, but what will be will be. As long as you’re developing in your role and getting additional experience then what’s the harm? But equally, don’t let somebody else tell you what you should and shouldn’t be doing. Also, choose to work for companies that are right for you.

Reports tell us that only a small percentage of CFOs in Yorkshire are female.  What are your views on the effective diversity of board rooms and leadership teams in our region?

I’m a woman so I’d love to sit here and say that teams should be equal, but I’m also a believer in employing the right people for the right roles. I feel like I’ve earned my roles and positions, I would never want to feel like the token women in the room, and I never have. It comes back to working for the right businesses. I do feel Boards can sometimes be an exclusive club, and they ought to be a reflection of the business they steward. I also feel no point in having a woman or a man on a board that doesn’t bring some expertise or value to it. The reason why I think there aren’t a lot of women on boards is because it’s hard and scary, and unfortunately a good number of women don’t have the same level of confidence to push themselves forward and think that they’re capable.

Women are mums just like men are dads, it always feels like there’s a trade-off between work and having that balance, and I think that the “mum guilt” people refer to is hard. It doesn’t just come from men, but from other women quite frankly. One of the most frequent questions I get asked is ‘Oh my god what about your kids?’ or ‘How do you make it fit?’. But I make it fit the same way my husband makes it fit. It’s no different for me than it is for him but it is challenging for sure, you have to make sure that you retain that balance.

Is there anything you would tell your younger self at the start of your career if you could go back and speak to yourself 20, or 30 years ago?

The only thing I would say is you have to give yourself a break sometimes, I’ve held myself to a very high level and because of that I probably didn’t allow myself to stop at times when I probably should have pulled back a little bit. I would say take a breather and turn it down a notch but equally by not turning it down a notch, being able to run 150 miles an hour has meant that I’ve been able to get the opportunities that I have and been successful in my career, although my husband would say take a step back and enjoy it!!!

If you enjoyed this interview, you may enjoy others from our “An Interview With…” series:

• An Interview with Oliver Laird – NED
• An Interview with Jason Boyle – Former Chief People Officer at Tunstall Healthcare Group
• An Interview with Tony Strong – CEO at Adare SEC

For our latest instalment of “An Interview with…”, we dive into the impressive and diverse career of Oliver Laird, previous CFO of Lookers Plc and experienced Non-Executive Director.

Oliver is clearly someone who continuously pursues learning and professional development. From choosing to take on Interim financial roles to the many NED roles he has held, Oliver has been able to build a truly diverse portfolio of experience in a wide range of organisations.

As Oliver says though, his career is far from over and he is open to new NED positions where he can bring the full wealth of his experience to support the organisation’s success.

Please give us an overview of your career in finance leadership and NED experience. What have been the major milestones and achievements for you?

It been a long career so far and I hope I’m not done yet, but I secured my first FD role when I was 29 in a SME food manufacturer. It was a startup and owner-managed. It taught me that the old adage of ‘cash is king’ is absolutely right and that things are an awful lot more challenging for a business if you don’t have it. The role also taught me how important it is to always realise that businesses are about people, and those people rely on management teams not only for leadership but, more importantly, for their livelihoods.

I set up my own company to work as an interim next. I took this step as it had become clear to me that I enjoyed variety and working to specific objectives in the work that I was doing, and the interim space was the ideal place to do this. I had clients in manufacturing, chemicals, the public sector, law, and in financial services.

It was my time as an interim in financial services that sparked my interest in the sector, and led to the majority of my career then being spent in financial services with companies such as Lloyds Banking Group, The Co-Operative, etc. Financial services is a broad church, which makes it an excellent place for anyone seeking to move between organisations whilst building on a consistent core of knowledge.

I’ve worked in general insurance and retail banking, but also in investment accounting and life insurance and held a variety of senior roles in these companies. Each role was very different in terms of the responsibilities, the challenges I faced, and the culture. However, the common theme in these roles (and what I think I’m very good at), was the requirement to fix problems, reinvigorate teams and grow businesses. Each role was great experience, but I think I’m most proud of the rebuilding of the investment accounting function at HBOS and the turn around of CPP plc which saw the reintroduction of dividend payments to shareholders.

After nearly 20 years in FS, I felt it was time for a change, so off to Lookers it was!

Can you elaborate on your role as CFO of Lookers Plc and how you contributed to the sale of the company last year? Were there any challenges you faced during the process and how did you overcome them?

Lookers is one of the UK’s leading integrated car retailers, providing customers with a range of services from over 150 sites in the UK. The company had been through a tough time having had its shares suspended and being investigated by the FCA. Together with the executive, I drove the turnaround of the business. During my time as CFO, the business generated profits of over £82m, returned to paying a dividend, and moved from being in debt to having net cash of over £70m.

The business then drew the attention of AAG who subsequently bought the business for £504m. I worked with the CEO to steer the sale process through the Board, shareholders, regulator approval, and negotiations with the buyer. The sale was not an easy one, with the majority shareholder removing its previous approval for the sale part way through the process. In addition, the terms continually switched between an offer and a bid.

It was a continual process of discussions with the buyer, advisors, regulators, and the Board to deliver a sale that met the timeliness and legal requirements of the various stakeholders. In the end, we agreed an increased price that met the valuation expectations of shareholders, the Board, and the buyer.

You’ve worked across a range of industries, from insurance and retail banking to the automotive sector. How do you apply your financial expertise to assess and advise companies in these different sectors?

I have always worked hard to build strong relationships with colleagues at all levels in the businesses I have worked in. This has enable me to develop a bank of experience that could be applied in several cases. The most important thing is to understand the sources of financial information available within each organisation and how the business units within the organisation utilise them.

I would then work closely with the management team to understand their medium and long term strategic aims. Using these pieces of information, I can asses where those businesses were in their strategic journeys and the key activities needed to progress. Combining this with best practice I’ve seen in other companies has always helped make the progress quicker and more efficient.

You’ve also worked for companies of ranging sizes. Are there any similarities between the challenges that face a startup like rradar legal and the challenges faced by major corporations like HSBC?

There are definitely things that you see in all organisations, its just that they are more or less pronounced depending on the stage of maturity of each. All of them understand the importance of MI, but deciding which the key ones are and how to source them is a constant issue. On top on that, the other big challenge is sourcing and retaining quality individuals.

Outside of finance, what drew you to becoming an NED? And has your financial expertise helped in these roles?

I wanted to become an NED to utilise my experience to support management teams in other organisations. I was especially keen to work in ‘not for profit’ entities and companies focussed on serving specific groups or communities. As you might expect, my financial background has seen me serve on a number of audit committee as a NED and help strengthen financial control and reporting.

Can you share a specific instance where your input as an NED has a significant impact on the strategic direction or performance of an organisation?

It’s difficult for an individual to say when and how they’ve had a significant impact on something. That’s something I think others should decide in the main. However, I can say that I’m most proud of the work I did as an NED at The British Council in helping that organisation set a new strategic direction to become a more commercial organisation and to be self-funding in the face of reduced funding from central government.

What criteria do you consider when evaluating potential NED roles, and how do you determine if an organisation is a good fit for your skills and expertise?

When it comes to NED roles, I tend to be sector agnostic. Working in the diverse sectors that I have has been a great learning experience and helped my continued professional development. However, organisation-wise, I look for: a strong people culture, decisive and clear decision making, and clarity of purpose for its customers/communities.

How do you approach leadership in the boardroom, especially when dealing with diverse opinions and interests among board members?

The key to leadership in the boardroom in my view is for all participants to respect the views of others, maintain professionalism at all times, and allow for an element of fun in the work we do. Those things form the foundation of a healthy Board and allow for focussed discussions on the wide variety of topics that Boards will deal with. It’s important to allow for disagreements (as long as professionalism is maintained) and avoid group think. This will lead to more effective, cohesive decision-making.

If you enjoyed this interview, you may enjoy others from our “An Interview With…” series:

• An Interview with Jason Boyle – Former Chief People Officer at Tunstall Healthcare Group
• An Interview with Tony Strong – CEO at Adare SEC
• An Interview with Nick Manning – Group CEO at John Cotton

As technology evolves at an unprecedented pace, understanding the implications of AI has become imperative for business leaders. Our new eBook discusses how the technology can and is impacting those at the very top.

Download your FREE copy now.

AI in the Boardroom delves into the relationship key C-Suite leaders may have with AI, including the possible rise of a CAIO (Chief AI Officer). The guide also goes on to discuss the biggest concerns around AI usage, expert predictions on upcoming AI regulations, and how leaders can create an effective AI implementation strategy for their business.

“It’s clear to us that AI represents a pivotal moment in business operations and, as with all pivotal moments, effective leadership is key.” Says Lee Bhandal, our Managing Partner. “AI has the power to completely transform the way we do business. Companies who want to take advantage of all the benefits AI has to offer, and who don’t want to get left behind, will need decisive, informed leadership to navigate this change.”

To create this guide, we drew on our contacts with Digital and Technology leaders to deliver expert insight and predictions on AI usage.

One surprising finding is that a small percentage of c-suite leaders believe AI should play the role of decision-maker in the boardroom, as opposed to just advisor or assistant. Additionally, readers will learn what industry experts predict to be the biggest stumbling blocks for business leaders, as well as what we should expect to in see in evolving AI regulations.

C-suite leaders will gain valuable insights from the eBook on how AI might impact their roles, how to address concerns related to AI implementation, and how to effectively plan an AI strategy for their businesses that ensures buy-in from their team.

AI in the Boardroom is available to download now.

When we asked our followers in a recent survey about their top priority for 2024, a resounding 47% responded with “Leadership Development.” This overwhelming response reflects how quickly the business landscape is changing these days. Covid taught us all that adaptability is key, the AI revolution is underway, and consumers are demanding innovation in all areas.

CEOs and business leaders need to ensure their team is ready. Executives must not be allowed to neglect their professional development simply because they’ve reached the highest rung on their career ladder. More than skills development, CEOs must consider how the very framework of their leadership team can be improved, through succession planning and fostering diversity.

4 Big Business Trends Driving Leadership Development

Before building any kind of development strategy, leaders should conduct a skills gap analysis on their team. This process should consider which skills and qualities are needed for optimal business operations now, as well as which skills and qualities will become necessary in the future.

Here are our predictions for the biggest trends affecting businesses in 2024, and where leaders need to brush up their knowledge as a result…

1. AI Everywhere

AI Tech is fast becoming standard within business plans. There are now very few businesses that don’t use AI in some form. However, skill at operational level is not always matched with knowledge by business leaders. In order to make the most effective use of AI, there must be confident leadership at the helm to guide your AI strategy.

2. The Human Touch

It may seem counter-intuitive, but as AI presence increases, the human element also becomes more important. Businesses and leaders who can leverage their emotional intelligence will be better positioned to differentiate themselves from those that rely on automation.

3. Sustainable Business

Consumer demand means that businesses are becoming more and more sustainable in order to remain competitive. It’s not just consumers though, green solutions often lead to increased profits. Leaders need to keep up with green policies and beware of greenwashing – consumers want the real thing, not a PR stunt.

4. Diversity & Inclusion

Research is proving time and again that a diverse company is a profitable, innovative company. Training on unconscious bias is non-negotiable for business leaders of the future. Plus, extra care must be taken that AI doesn’t exacerbate any existing biases.

Is your leadership team equipped with the skills necessary to navigate these trends successfully?

What Does Professional Development Look Like at the C-Suite Level?

When approaching skills development, one of the main things leaders can do to ensure success is to look beyond traditional education models. Learning should not be a sporadic or isolated endeavour, limited to stand-alone seminars and workshops. This kind of thinking is a common obstacle to professional development as it requires effort, time, money and is not tied into your company’s unique way of working.

Instead, learning should be seamlessly integrated into the fabric of daily operations, intricately tied to the achievement of overall business goals. Recognising that adaptability is an ongoing requirement, businesses must foster a culture of continuous learning and improvement.

Consider incorporating mentoring, peer coaching, and encouraging regular feedback and self-reflection into your leadership development strategy. The more these practices become an integral part of the daily routine and are aligned with broader business objectives, the more likely they are to yield lasting results.

Future-proofing Your Leadership Team with Succession Planning

Another common mistake made in development strategies is to focus solely on the current executives. Leaders should consider upskilling and reskilling team members just below the C-suite, too. This strengthens the leadership pipeline and guards against potential management gaps if and when an executive decides to leave. A well-prepared and capable bench ensures the continuity of leadership and stability within the organisation.

Developing Diversity

Finally, any discussion on leadership development must also include a conversation on diversity and inclusion. Research from Forbes indicates that diverse teams deliver 60% better results, and in 67% of cases, they make better decisions. McKinsey & Co further found that companies with a more diverse workforce tend to perform better financially. Thus, leadership development initiatives should include efforts build a C-suite that represents a range of experiences and points of view. By doing so, businesses not only foster a more inclusive culture but also position themselves for greater success and innovation.

In conclusion, as we step into 2024, the call for leadership development within the C-suite has never been more pronounced. It is not merely a trend but a strategic imperative for businesses aiming to thrive in an era of constant change. By systematically addressing skills expansion, succession planning, and diversity within the leadership team, businesses can forge a path to sustained success and resilience. After all, investing in the growth and development of C-suite leaders is an investment in the future prosperity of the entire organisation.

Taking over the helm of CEO is a monumental task. Fortunately, it’s a task that has been well documented thanks to existing CEOs who have shared their experiences. So, we can learn from those who have gone before us.

With so many changes to get used to in your new role, there are a few challenges that are almost universal. And one solution that is guaranteed to help with all of them. Keep reading to discover what that solution is.

Internal vs External

It’s worth mentioning that the experiences between internally promoted CEOs and externally hired CEOs can vary significantly. However, neither option reduces the number of challenges you will come across.

Internally promoted CEOs benefit from an extended handover period with the outgoing CEO, and already have a strong understanding of the business, how it’s run, and the team within it.

However, that familiarity can also be their downfall as it may be harder to make a clean transition from their previous role.

Moreover, externally hired CEOs usually have a strong, detailed onboarding process, yet internal candidates are assumed to have all that they need to know. There’s no reason why internal candidates can’t have the same structured treatment.

On the other hand, External hires still have lots to learn about their new industry, sector, and company culture. They bring incredibly valuable insight with them, but they must balance this with patience and curiosity to learn about the new business.

As you can see, both come with their own set of positives and negatives, but the following challenges can apply to both internal and external CEOs alike….

Fighting Pre-Conceptions

Whatever their journey, all CEOs will face preconceived notions on what kind of leader they are going to be. Internal candidates because their team have known and worked with them for many years. Even externally hired CEOs will face assumptions based on their professional CV.

For example, people may assume that the CEO who comes from a finance background will prioritise financial matters, without giving equal attention to other departments.

It is therefore vital for any new CEO to nip such preconceptions in the bud. In order to counterbalance any natural leaning to your native department, you might actually want to focus on other departments in your first few months.

Regardless, a CEO should make a concerted effort to understand operational areas that they are not already familiar with. You should already have an understanding of your own area of expertise, and, presumably, you will already have allies there too. So, take the time to lay strong foundations in other areas until you have the correct balance.

Operating at the right pace

Another challenge new CEOs can face is to do with patience. It can be easy to unleash all the plans you’ve been sitting on, waiting for your chance at the top job. Research by Havard Business Review found that many new CEOs were already thinking about their legacies when they took on the role. This fascination with making a mark on the company can lead to rash decisions that are not actually in line with long-term company goals.

In some situations, bold action is necessary. However, those situations are rare. Changing too much too quickly can result in burnt-out staff, disenfranchised senior leadership, and a weak overarching goal.

Instead, CEOs should spend their first year building a solid working relationship with the board and the wider team. In return, the board should provide early, structured feedback on how the new CEO is doing, so that they can calibrate the pace of change to a speed that everybody can maintain.

Operating at the right altitude

Pace isn’t the only thing new CEOs need to worry about. They also need to figure out the right amount of distance between themselves and everyday business proceedings. This is a challenge that many new CEOs will not anticipate, and yet it may be the most difficult to overcome.

CEOs will soon realise that it’s impossible to manage a company when you’re too close to day-to-day operations. A CEO cannot monitor everything all at once. In order to see the whole battlefield, the captain must sit back and assess the bigger picture.

Thankfully, this is where their senior leadership team can help to bridge the gap. As executive demands grow, you may be shocked to see just how much responsibility you must let go of.

It might help to maintain an employee mindset. All CEOs must remember they are but a cog in the machine. A vital cog, of course! But a cog nonetheless – only one part of the whole. You have your responsibilities as CEO, and you should be able to rely on those around you to address their responsibilities.

Gaining Buy-in

A common mistake that new CEOs make is to assume that they have finally reached the position of ultimate power. In reality though, they are still part of a team, and they still have the board of directors to report to.

CEOs need to be careful when making big decisions, especially early on, to ensure that they have the backing of their team. Without it, meaningful change is unlikely to occur. Instead, the CEO risks alienating their team and making life a lot harder for everyone involved.

Plunging a stake in the ground might be necessary to demonstrate who is in charge and to send a message around your expectations for the company. However, issuing a direct order, with no buy-in from the senior team, isn’t usually the best way to go.

For example, new CEOs could share their vision with the board of directors and senior leadership team at a dedicated workshop. Deliver your ideas and be open to feedback. This lets your team know that you value their input before you stride forward with any big plans. Plus, people are more likely to get on board with ideas they’ve had some involvement in.

Transparency is also key. Clear communications must be upheld on both sides; to staff and to the board of directors. This way, everyone knows what to expect and will not be taken aback.

Finally, CEOs must recognise that decision-making isn’t actually the biggest part of their job. In a truly successful team, most decisions should already be made lower down the chain because leaders are trusted and empowered to make choices in line with your goals. If decisions are reaching you that you regularly disagree with, there needs to be better communication on your vision for the business.

The Ultimate Solution: Building the Right Team

Throughout this article, we’ve given solutions for each challenge. But the one solution that can help with all these challenges is to surround yourself with the right people in your team.

Our contact, Charles Hartwell, CEO of Eville & Jones, said this is the main thing he wishes he’d known when he became CEO. “Ensure you surround yourself with the best team you can, “ he says, “If there are gaps, then filling those gaps should be your number 1 priority.”

Your team is your most valuable asset as a CEO. They are the one’s who’ll keep you up to date on all business activities – from operational difficulties to employee mood. As Mark Cotter, Ex-CEO of Baird Group says, “Make sure you have the right team around you quickly. It is critical they are aligned with your vision and that your trust them.” He also adds the importance of including a mentor in your team planning, “I was told it would be lonely as CEO and it’s very true. Having an external mentor to use as a sound board is very helpful.”

Your team will also make up for any knowledge gaps of your own. There’s no shame in admitting you don’t know everything, that would be impossible! So, it’s important to create a diverse board, full of subject matter experts for the areas you are less confident in. Recognising your weaknesses is a must if you want to put the needs of the business before your own.

We’ve worked with many new CEOs. If you’d like to find out more about the challenges new CEOs face, or how your organisation can help to counter these challenges, give us a call today.

Surveys and studies have highlighted a lack of understanding, trust, and appreciation for modern marketing within the C-suite.

Nine out of ten CEOs believe that the role of marketing is well-defined, yet only half of CEO-CMO pairings agreed on this. Furthermore, when it comes to understanding modern marketing, only about 50% of CEOs feel comfortable with it, while a staggering 66% of CMOs believe that CEOs do not comprehend modern marketing. This disconnect, paired with a lack of marketing experience among Fortune 250 CEOs (only 10% have marketing backgrounds), demonstrates an underestimation of marketing’s potential to drive growth, despite the rapid evolution of marketing capabilities.

Moreover, a study by Fournaise reveals that more than 75% of CEOs don’t fully trust their current CMOs, and a similar percentage of CMOs express dissatisfaction with their positions. These trust issues have contributed to CMOs being perceived as less influential in the C-suite when compared to other executive positions.

How can a Marketing Director promote the value of marketing under these conditions?

The Marketing Trap: Marketing’s Limited Scope

The head of marketing can often find themselves in a challenging predicament. Given that marketing is intuitive to most people, it often becomes a constant recipient of one-off requests from various departments. Yet, most non-marketers perspective is limited to the more visible parts of marketing, like advertising, with little to no appreciation for the full breadth of a marketing campaign.

Consequently, marketers are hired for their strategic thinking and creativity, but their role often becomes focused on executing existing sales and growth plans, with CEOs who want quick, easily quantifiable results. This trap prevents them from bringing the full cohort of their capabilities to the table.

When the board focusses too much on short-term outcomes, they fail to grasp the intricate nature of lead conversion and pipeline generation. These processes rely on a broad array of marketing elements. For instance, awareness is a crucial element in this mix. Without creating awareness, the target audience remains unengaged, and this can impede the generation and conversion of leads required for business growth.

It would be a mistake to underestimate marketing’s value in long-term business strategy.

Inter-Board Relations

A successful marketing lead doesn’t operate in isolation. To maximise their impact, marketers need to establish critical relationships with other C-suite members.

CEO: A strong bond with the CEO is essential to ensure alignment on business objectives. When the CEO and CMO are on the same page, it becomes easier to drive the company forward cohesively.

CIO: Collaboration with the Chief Information Officer is essential for data-driven decision making. With an insight into business performance and customer behaviour, the CMO can make strategic decisions to support the areas that need it.

CTO: The CMO, acting as a customer advocate, can provide valuable insights on user experience and the tech that can improve customer engagement at all points of contact. They can also keep track of the latest innovations across the market to ensure the business stays ahead of the game.

CFO: It is essential that the value of marketing spend is fully understood. A strong relationship with the CFO means that CMOs can support their strategy with the necessary funding and the CFO can see exactly how marketing is making a tangible contribution to company goals.

HRD: Where marketing crosses over into internal comms, a partnership with HR can be extremely beneficial to employee buy-in. Marketing is at the forefront of promoting the brand mission and creating an engaged community.

Of all these relationships, the research shows that the relationship between CMO and CFO is the one to improve. A study by EY, titled “The Future of the CMO CFO Connection,” found that 90% of nearly 300 senior financial and marketing executives believe that closer collaboration is critical to successfully drive digital transformation.

Unfortunately, 44% of the marketing professionals surveyed admit to having a less productive relationship with the finance department than any other function, and almost half of the finance professionals feel the same way. However, bridging the cultural gap between these two functions is essential and requires full sponsorship and mandate from CEOs.

Which Metrics are Important to Whom?

Metrics are the backbone of decision-making in the C-suite. However, the choice of metrics and their focus can vary significantly between CEOs and CMOs. In fact, only half of CEO-CMO pairs agree on their company’s top three marketing metrics. CEOs often focus on metrics related to revenue growth and margin improvements, while CMOs prioritise brand awareness and recognition.

The excessive emphasis on return on investment (ROI) can also be detrimental. Nearly 48.1% of marketers believe their companies are too focused on ROI, potentially leading to a weakening of brand equity and long-term performance issues.

What a board should realise is, there are a whole range of marketing metrics beyond ROI that can communicate the influence marketing has on business strategy.

Budget Considerations

Marketing budgets often find themselves on the chopping block during challenging economic times. A Forbes Insights survey reveals that 69% of CEOs believe their companies waste money on marketing initiatives. This is despite ample evidence suggesting that reducing marketing budgets is counterproductive. The reason behind this is partly a C-suite mindset that perceives marketing budgets as non-essential or inferior compared to essential business costs. Marketing leads often find themselves in the position of having to advocate for their own department’s worth.

It’s true that marketing budgets can be complex due to many moving parts and the inherent challenge in measuring and attributing their impact. However, companies that reallocate at least 49% of the previous year’s budget back into the business achieve a compound annual growth rate of 10% in total returns to shareholders. This underscores the long-term benefit of maintaining marketing investment, even in challenging times.

Again, we come back to the importance of aligning marketing goals with overall business goals for growth. When building the case to CEOs and CFOs who value frugality, understanding where growth is going to come from is essential. With this information, Marketing Directors can allocate their budget for maximum efficiency. Targeted, streamlined campaigns can save 10-30% of marketing spend which is sure to please any finance-focussed CEOs.

The Marketing/Information Dream Team

Most marketers will know that, for truly effective marketing, data is king. In some C-suite circles, market research is viewed as a non-essential expense and often becomes one of the first areas to be cut when budget reviews take place. However, quality brand research can pay off handsomely over time, which is why marketers should work hand-in-hand with the CIO.

Well-defined research can be repeatedly used to inform future decision-making. Market research not only directs a brand’s focus but also reveals areas where it can pull back, potentially saving millions on misguided future initiatives. Investing in research is a small price to pay for enhancing decision-making confidence among executive teams striving to achieve ongoing organisational success.

What Marketing Channels Should the Board Be Aware Of

In our increasingly digital world, staying up to date with the plethora of marketing channels is large part of the marketing department’s remit. So is communicating all possibilities to the board.

Fixating on only a few familiar channels can lead to missed opportunities and hinder the company’s ability to adapt and thrive in the face of evolving market dynamics. By fostering a culture of ongoing learning and an openness to new marketing channels, the board positions the company for greater success and innovation in the long run.

To prevent the board getting stuck in the habit of traditional marketing methods or, conversely, getting swept away with the latest craze, marketers must promote the value of a mix of channels.

An omnichannel approach helps to create a cohesive experience for the customer, as well as mitigating the risk of putting all one’s marketing eggs in one basket, so to speak. The marketing lead can guide the boards ideas while also taking into account the cost-efficiency, audience-reach, and competitive advantage of each channel.

Conclusion: Marketing the Marketing Department

In conclusion, it’s crucial to recognise the significance of marketing within the C-suite. Marketing isn’t just an operational function; it’s a strategic driver of growth and success. While marketing’s role is multifaceted and often misunderstood, building trust and understanding between the marketing department and the rest of the board is essential for achieving long-term business goals.

Messaging to the C-suite should be focused on ROI, long-term objectives, thought leadership, and risk reduction. Sharing success stories can highlight the value and impact of the marketing department within the organisation.

Fortunately, there’s hope on the horizon. More marketers are taking the leap into the top leadership role, with examples like Tesco’s CEO, who was previously a marketing manager at Unilever, and M&S’s boss, who had a marketing background at British Airways and McDonald’s before joining. This shift underscores the growing recognition of marketing’s significance within the C-suite.

For help finding a marketing lead who can work with your board and maximise marketing effectiveness, get in touch today.

Consistently reviewing the economic landscape is a priority for all business leaders and especially CFOs who are often business partners with their MD/CEO and Board. This is particularly the case in Private Equity owned companies where the global economy directly affects their investment strategy. It has been reported that the recent economic uncertainty has led to a marked deceleration in investment activity. Specifically, a -30% contraction in investment market volume between Q1 2022 and Q1 2023. As PE firms adjust their strategies, so does the role of the Chief Financial Officer.

Despite the slow-down in equity growth, there is still strong demand for outstanding CFO and financial leaders within the PE Sector. In many cases though, the requirements for the role have changed, and thus PE firms are looking for different traits in potential candidates. Investment volume may be down, but aggregate value has steadily increased quarter by quarter, meaning a well-executed deal in the right place is even more significant. Appointing the CFO with the commercial skills and experience to navigate through this ever-changing market has never been so integral to PE firms who are scaling their business portfolios.

The Altered CFO Mandate in Private Equity

In the immediate post-pandemic era, Private Equity CFOs were predominantly needed to oversee new acquisitions and transferring financial management. Nowadays, however, firms are much more risk averse. Buying new firms is not on a priority in many cases, and instead they are choosing to shore up existing assets.

As a result, CFOs are required to become architects of performance enhancement within current portfolio companies. The focus has turned to extracting maximum value from current investments and CFOs are now preoccupied with cultivating operational efficiency, streamlining processes, and driving growth within these firms.

The search for a new CFO now prioritises meticulous money management as well as the ability to foster strong banking relationships. Operational competency within each firm’s specialist field is also desirable as a CFO who understands the day-to-day workings of their portfolio companies will be better positioned to advise on improving efficiencies.

More than this, a growing preference for experience CFOs underscores the risk-averse stance that PE firms are taking. Firms are less likely to take a leap of faith with individuals on the cusp of the CFO role. Rather, they are seeking seasoned executives who can seamlessly step into the leadership vacuum. Those who are currently looking for their step up into the C-Suite will be more likely to find that opportunity in an internal promotion.

More generally, Private Equity firms are focusing on diversity in their recruitment strategies. According to EY’s 2023 Global Private Equity Survey, 49% of PE managers surveyed list increasing diversity as a top priority, and 41% listed creating an inclusive culture.

Following through on these ambitions, however, is proving difficult. Globally and across all sectors, 82% of CFO appointments made in 2022 were still male. More shockingly though, in Private Equity alone, female appointments decreased from 36% in 2021 to 23% 2022. As for racial and ethnicity diversity, only 10.9% of 2022’s Fortune 500 and S&P 500 companies had non-white CFOs.

If Private Equity firms are determined to recruit only experienced CFOs, their candidate pool is not going to give them a diverse selection. Those firms which do act on their diversity promises will likely build a more diverse team outside the C-Suite and promote internally, so as not to compromise on the lack of experience for their top job.

Navigating Professional Ambitions for CFOs

Of course, hiring talent is a two-way street. Just as CFOs must consider what Private Equity firms are looking for from them, the firms must also consider what they can do for prospective CFOs. There is a good chance to acquire top talent, as Bronzegate reports 75% of PE CFOs would be open to moving to a new opportunity in the next 12 months. Hiring firms need to put themselves in their candidates’ shoes when planning how to attract the best CFO talent.

The changing economic climate has ramifications for how existing CFOs are planning their career trajectories, especially when they are seeking an entry point into working within Private Equity. Equity shares from underperforming firms might yield disappointing returns, prompting CFOs to contemplate strategic moves where they might expect a better return on their tenure. When considering a move to a new firm, CFOs will be interested to know the scope for potential improvement in portfolio companies. Firms with marginal prospects will need to find other ways to attract CFOs.

Moreover, an upcoming general election brings with it the potential for legislative changes. A new government is likely to reconsider capital gains relief, either by reducing it or eliminating it entirely. CFOs are therefore likely to strategize their career moves based on this uncertainty. In order to mitigate potential losses, CFOs will be tempted by higher base salaries and comprehensive benefits packages.

In conclusion, the role of CFO within private equity is inextricably linked to the economic landscape. Despite the sluggish investment market, the value of a well-executed deal remains has only increased, making it all the more important to make the right CFO hire.

Attracting and retaining top talent in the C-suite is a critical challenge for organisations. To address this, creating an enticing benefits package for executives becomes paramount. Not only does it shape how top executives behave but it also helps determine what kinds of executives an organisation attracts. In this blog, we will delve into the crucial components that make up an executive’s rewards package and explore the considerations necessary for building a well-balanced and attractive offering.

The Building Blocks

A typical executive compensation package comprises both financial and non-financial elements, including salary, perks and benefits, bonuses, and Long-Term Incentive Plans (LTIPs).

Salary: The foundation of any renumeration package lies in the base salary, often paid in cash. When deciding just how much to offer, there is a lot to weigh up. Companies should consider what their existing board members are earning, but also what the market rate is in order to remain competitive. More than this though, companies need to calculate just how much value this role will bring to their organisation.

Perquisites: Non-financial benefits are often as important as annual salaries for job-seeking executives. In our post-pandemic world, the kinds of perks executives can expect have evolved somewhat. There is now more of a focus on maintaining work-life balance, a notorious difficulty among board-level workers.  Common perks include extra holiday, flexible hours, a 4-day work week, health and life insurance (for family members as well as the individual), or paying for them to complete their MBA.

Bonuses: In addition to a base salary, executives would expect annual bonuses to be awarded to them. These short-term incentives may be at the discretion of the board or dependent on specific performance metrics, such as profit margin increase or meeting critical project deadlines. These bonuses can be swapped for equity.

Long-Term Incentive Plans (LTIPs): Similar to annual bonuses except the performance period typically spans 3-5 years known as a vesting period. Executives might receive their reward only when the vesting period is complete, or they might receive proportionate value each year. These rewards might be a mix of cash and equity.

Cash vs Equity

Instead of a cash lump sum, executives may receive their rewards in the form of equity. Stock Options allow an executive to purchase a number of shares in the business, linking their financial success with that of the business. Restricted Stock is similar but requires a vesting period before the employee can receive their rewards i.e. a long-term incentive.

For a long time, cash has been regarded as less incentivising than stock-based compensation plans. The argument goes that cash is a nice one-off reward, but the motivation is short-lived. Whereas gifting equity to an employee gives them part-ownership of the company and therefore gives them a vested interest in the company’s performance.

However, recent research from John Kelper finds that cash-based rewards are more incentivising than previously thought, especially in the early stages of an executive’s career. Kelper concludes that, regardless of the form bonuses take, bonuses encourage better cooperation across departments as they hold leaders collectively responsible for key performance goals.

Equity-based rewards might also be better suited to start-ups as they require lower upfront costs and can help the company get off the ground as the recipients are equally motivated to build a financially successful business.

Long-Term vs Short-Term Goals

LTIPs play a crucial role in encouraging executives to focus on long-term organisational goals. According to a World at Work survey, the use of LTIPs in c-suite executive compensation plans is increasing. When they first start their survey in 2007, only 35% of businesses surveyed had an LTIP, which grew to 62% in 2019.

The argument for LTIPs is that they encourage leadership behaviour and decisions that are more aligned with the company’s long-term goals. If a compensation package were made up entirely of short-term incentives, then executives may be tempted to make quick-win decisions simply to boost their annual income. LTIPs also help with talent retention as executives would suffer a loss of earnings if they left the business before the vesting period is complete.

Of course, short-term incentives have their place. Candidates don’t want to have to wait 3-5 years before they start to see a return on their efforts. Moreover, companies that are going through transformational change may benefit from focussing more on short-term goals.

Individual vs Company Performance

Just as with other considerations, a careful balance has to be achieved between elements that rewards individual achievements or collective achievements. Rewards based on organisational metrics such as profit margins, revenue growth, and shareholder returns will help to motivate executives in line with the company’s long-term plans. However, metrics like this are often influenced by multiple people across multiple divisions. This can either boost cross-departmental collaboration, or it can breed frustration.

Harvard Business Review found that rewards tied to an executive’s individual performance were “positively associated with job satisfaction.” However, rewards that relied on corporate-wide metrics made staff less committed and frustrated with management. It’s understandable that team-members will be demoralised after putting in lots of effort on their part, only to be stumped because someone else is underperforming.

Company Philosophy

Throughout all of these considerations, it’s important to bear in mind your company’s overall philosophy. Do you value collaboration and cohesion? Or is yours a company which values personal accountability? Do you value profit over all else, or do you measure success in other ways?

We’ve spoken a lot about finance-based metrics, but any performance incentive can also be measured by non-financial metrics. According to FW Cook’s 2018 Global Top 250 Compensation Survey, 70% of companies use non-financial metrics and 26% of them use at least one ESG goal. For example, you could measure employee diversity, company culture perceptions, or progress on sustainability goals.

Crafting a well-balanced benefits package for C-suite executives requires a thoughtful approach. By carefully balancing different aspects and keeping company values at the core, organisations can create a rewards package that not only attracts but retains top executive talent.

Presenting Your Rewards Package to Potential Candidates

In the previous sections, we’ve discussed general considerations for building your rewards package. Now it’s time to bring all those ideas together and put your potential candidate at the centre. Why? Because you now have to assess the candidate’s current compensation package and how yours compares. Understanding their current remuneration not only demonstrates a commitment to fairness but also helps tailor an offer that reflects their market value and ensures a smooth transition.

If you’re offering LTIPs, it’s fair to assume that your candidate is already working towards a long-term reward in their current role. Recognising the potential financial impact of forfeiting such benefits, companies may consider offering a ‘golden handshake’ or a compensation package that offsets the loss incurred by leaving existing LTIPs. This proactive approach acknowledges the barriers associated with senior executives walking away from potential payouts, fostering goodwill, and making the transition more enticing.

Finally, it’s crucial to acknowledge that senior leaders haven’t just reached their positions because they’ve put in the correct number of work hours. Rather, they have gotten where they are because of the wealth of experience and expertise they bring to the table. Organisations must recognise the importance of a comprehensive rewards package in attracting and retaining such high-calibre talent. Beyond salary and bonuses, perks like professional development opportunities, mentorship programs, and a supportive work environment contribute significantly to making an offer compelling for senior executives. This holistic understanding of what motivates and retains top talent is vital in shaping competitive and attractive rewards packages for C-suite candidates.

At Parkinson Lee, we are your executive recruitment partners. We can work with you to craft the perfect rewards package to attract your ideal candidates. Call us today if you have a vacancy you’d like to discuss.

The board exists to guide an organisation, each member acting as an expert in their field, an exceptional leader and savvy decision maker. It’s their task to navigate the market and implement a strategy for growth. But who is there to guide members of the board?

Enter the Non-Executive Director…

An NED is a director who is not required for day-to-day business – in fact, they may only consult with the board a handful of days a year – leaving them free to work entirely at a strategic level. NEDs can apply all of their professional experience and their external viewpoint to see how decisions will affect various stakeholders. They are there to ask the difficult questions, contesting the CEO’s personal biases and preferences to ensure that your strategy is truly in line with your objectives at all times.

An Independent NED goes even further, having no financial ties to the business (such as holding shares) or personal ties to the management team. An iNED can offer purely objective advice to ensure the business is run responsibly and ethically, as well as strategically.

Why Companies Seek Non-Executive Directors

A Fresh Pair of Eyes: NEDs bring a fresh perspective to the table. As someone who isn’t embroiled in the day-to-day running of the company, their external viewpoint can spot potential opportunities and pitfalls that might have been missed otherwise.

A Skilled Consultant: NEDs often come armed with specialised skills and industry know-how. Their insights can be a source of wisdom for the C-suite, offering guidance on delicate matters and lending their acumen to strategic discussions.

A Networker: As the old adage goes, sometimes it’s not what you know, it’s who you know. A robust network can be a game-changer and NEDs, with their extensive connections, can open doors to all sorts of collaborations, partnerships, and opportunities.

An Accountability Reminder: It’s easy for directors to get caught up in the whirlwind of daily operations. NEDs act as a steadfast reminder of accountability, ensuring that strategic goals and ethical standards are upheld at all times.

A Diverse Perspective: The need for diversity is becoming more and more apparent. The C-suite should represent a variety of backgrounds and experiences so as to better understand their audience and their own team. If a board is lacking diversity, NEDs can be recruited to expand the collective experience and enrich decision-making processes.

A Legal Requisite: Public sector businesses may be government mandated to have an NED on their board, ensuring that all business activities are conducted responsibly.

Recruiting an NED

As our managing director, Lee Bhandal, told Insider Magazine, “The NED recruitment process isn’t much different from any other executive search. There aren’t hundreds of relevant NEDs sat on recruitment databases. We need to go and find them proactively; quite often to very specific and demanding client briefs.”

This proactive quest begins with a comprehensive search process. Our partners and in-house researchers delve deep into the reasons why a business is seeking a non-executive director, establishing a detailed brief of the required experience, sector expertise, and cultural alignment.

With this understanding to form our blueprint, we undertake a full market mapping process, coupled with a review of our existing networks, in order to identify a list of suitable NEDs to headhunt.

What to Seek in a Good NED

Of course, the answer to this question depends entirely on the company and their reasons for wanting an NED. However, certain qualities are always useful to look for.

A robust track record within the relevant industry will provide a solid foundation. NEDs who have already navigated similar challenges will bring valuable insights to the table, not to mention any relevant connections or an established reputation within their field.

Beyond this, NEDs should have a strong strategic vision that extends beyond immediate concerns. Remember, a key benefit to recruiting an NED is the outside perspective they can offer. NEDs can hold the company’s long-term objectives in mind at all times and tailor their advice around this.

Adaptability and curiosity are also vital traits in today’s rapidly changing business landscape. NEDS must be able to stay informed on current events in order to remain responsive and to identify possible opportunities.

Finally, NEDs must be confident in their recommendations so that they can say what needs to be said, even to an audience that doesn’t want to hear it. NEDs will challenge the CEO unlike any other director, as is their prerogative.

In the complex world of business leadership, Non-Executive Directors emerge as a stable, guiding light – to support leaders through difficult decisions, and to challenge them to do better.

If you’d like to discuss your NED requirements, we’d love to hear from you. Contact our managing director, Lee Bhandal, on l.bhandal@parkinsonlee.com to arrange a chat.

Ever wondered what a Non-Executive Director can add to a board? Our Managing Director, Lee Bhandal, recently featured in an Insider Magazine article on this exact subject.

As Sheffield Forgemasters appoint a new Chair and Non-Executive Director, Lee discusses why a company might want to expand their board this way, as well as how Parkinson Lee approaches a search for the right candidate.

See below for the full article.

Insider Magazine Full Article

There is no doubt that the way we work has changed dramatically in the last few years. Technological improvements laid the foundations for increased remote working, but the real catalyst was the Covid-19 pandemic. Now, three years on from the UK’s first lockdown, 16% of workers report working from home full-time and 28% report working in a hybrid arrangement i.e. a mix of in-office and remote work.

During this time, there has been much speculation on how working from home affects productivity and employee satisfaction. However, another important question is whether hybrid working has impacted the ability to lead from C-Suite and board level executives.

To answer this question, we will consider the benefits and the challenges that hybrid working presents to leadership efficacy, before discussing strategies that can help C-Suite and board level executives adapt to this new age of working conditions.

The Benefits of Hybrid Working for C-Suite Executives

Possibly the biggest benefit of hybrid working, for workers at any level, is the ability to overcome geographical distance. Remote workers can be anywhere in the country, or the world, and still participate in business activities.

For C-Suite and board level executives, this means the ability to communicate with teams without having to be there in-person. The use of video conference software may have been available in the past, but shunned simply because it was not the norm, and workers expected in-person meetings. Now, digital communication channels are much more common, opening up a world of flexibility for leadership roles.

Executives with a wide-spread team, possibly with multiple branch locations, will quickly feel the benefit. Executives with a single worker hub will still save time from travelling to external meetings with important business partners. This change means that C-Suite executives can dedicate more time to planning and other critical tasks.

The Challenges of Hybrid Working for C-Suite Executives

While arranging meetings over large distances has become easier, one could argue that day-to-day communication has suffered. Working in separate locations means that employees have lost the opportunity for impromptu conversations.

These small interactions may have felt insignificant before, but now teams are learning how important they were for fostering positive connections and creativity, which in turn leads to better collaboration. Moreover, managers might use these bonds to build trust with their employees and to better understand how to motivate their team.

Leaders must fight the feeling that, by losing these ‘watercooler moments’, they are also losing visibility on the team’s progress. It can be tempting to schedule a number of virtual meetings and touchpoints in order to try and replicate the contact available in an office. However, these attempts can come across as inauthentic to employees, or worse as a sign of distrust.

So, how can executives adapt to overcome these challenges?

Strategies for Leading Effectively in a Hybrid Work Environment

Given that remote and hybrid working arrangements seem here to stay, it is perhaps not helpful to ask whether C-Suite and board level executives are able to lead as effectively as before. Rather, we should be asking how executives can adapt to face these new challenges.

1. Lead with confidence and professionalism.

During times of change, stress levels are heightened, and people look to their leaders more for guidance. Instead of reacting negatively to changes and focusing on how things used to be, confident leaders embrace the cultural shift and role model the right behaviours for the new environment.

2. Lead with empathy.

In hybrid working environments, with limited inter-departmental contact, concern for employee welfare can no longer be a role restricted to HR. Demonstrating authentic care and a willingness to listen to employee issues will go a long way to building trust, even without those ‘watercooler moments’ from the past.

3. Lead with clarity and expectation setting.

Communication skills have never been more important. Without the ability to casually check in on employees, leaders must ensure their team leave meetings with precisely the information they need to carry out work independently. By setting clear expectations, leaders can avoid virtual micromanagement, which will only work to damage any trust they have with their team.

4. Lead with employee feedback.

Following on from the previous point, communication is a two-way process. Employees will be able to tell you what works for them and what doesn’t. Leaving space for workers to give their feedback – and actually acting upon that information – means leaders are better equipped to support their team. Providing the right support, in the right way, is another important factor in building trust and bridging the virtual disconnect.

In conclusion, a shift towards hybrid and remote working need not impair C-Suite and board level executives’ ability to lead effectively. By adopting new strategies which prioritise employee engagement and well-being, and remaining flexible and adaptable, executives can lead just as effectively in hybrid working arrangements.

Learn more about the importance of having the right executive leaders in challenging times in our previous blog post.

Get In Touch

If you’re looking to make a leadership change in your company, please contact our Managing Partner, Lee Bhandal, on 07590 529 274 or l.bhandal@parkinsonlee.com

Executive-level roles are highly competitive so presenting yourself in the best possible light through your CV, social media, and networking is crucial to securing a top position. In this blog, we’ll explore some key strategies for positioning yourself effectively on the executive search market.

Understanding the Executive Search Market

Executive search firms, also known as head-hunters, specialise in finding and placing top-level executives in organisations. These firms work on behalf of companies to identify, evaluate, and recruit the best candidates for leadership positions. They focus on senior-level roles such as CEO, CFO, CMO, CTO, and other C-suite positions. Here’s more on how executive search firms find candidates.

How to Present Yourself on the Executive Search Market

Craft a Compelling Executive CV

Your CV is an essential tool for presenting yourself on the executive search market. It is your marketing brochure, and it should clearly highlight your achievements, skills, and experience.

1.     Know Your Numbers

As Fortune 500 CFO, Tomas Horejsi puts, “without financial intelligence, [executives] are less informed and therefore less effective as leaders.”

Embed key business performance metrics, such as sales figures, profit margins, cost savings, and productivity improvements throughout your CV and prepare to discuss them in further detail at interview. This will show potential employers that you have a results-oriented mindset and that you are able to deliver measurable outcomes.

2.     Demonstrate Your Commitment to Growth

Showcase your ongoing commitment to learning and development by highlighting any relevant courses, training, or qualifications you have obtained. You should provide specific examples of how you have applied your new knowledge or skills in your work.

If you haven’t undertaken any formal training recently, try to provide anecdotes of different strategies you’ve applied in practice, their outcome, and what you learned from taking this new approach. This shows that you’re open-minded to adopting new ways of working in a continual effort to maximise quality and efficiency.

3.     Highlight How You Have Influenced Senior Stakeholders

Another way to impress executive search consultants is by demonstrating your board-level influence. This involves showing the support you have given to your board or senior management team (SMT), and how you have made their lives easier through your role. This will demonstrate your ability to work collaboratively with senior leaders and make a valuable contribution to the success of the organisation.

4.     Showcase Your Successes

When it comes to showcasing your achievements, it’s important to focus on the outcomes that add value to the business. This could include customer wins, transformational projects, acquisitions, or any other significant achievements that demonstrate your impact on the organisation. Be specific about the contributions you made and make sure they are relevant to the position you are applying for. By doing so, you will demonstrate your ability to deliver results and make a positive impact in a new role.

5.     Tailor Your Experience

At the executive level, a one-size-fits-all approach to your CV is unlikely to be effective. Each industry sector, role function, and business has different requirements, so it’s important to tailor your experience to each market. This will ensure that your experience is presented in the most compelling and relevant way for each potential employer.

Build a Strong Online Presence

In today’s executive search market, your online presence can be just as important as perfecting your CV. With 94% of executive headhunters using LinkedIn to source candidates and 84% of employers recruiting via social media, you should ensure that your LinkedIn profile is up-to-date, detailed, and well-connected. You should also ask your colleagues and industry contacts to endorse you on LinkedIn.

Additionally, you should set any other social media platforms you use to their highest privacy settings, so as not to undermine your professional image.

Network, Network, Network

Having a robust network can give you a significant advantage over other C-suite candidates. Networking helps you to establish relationships with people with valuable insights and information about the industry, company culture, and potential job openings. It also allows you to showcase your skills, experience, and expertise to a broader audience, which can lead to potential job opportunities. Additionally, having a strong network can provide you with valuable referrals and recommendations from people who know and trust your work.

Key Takeaway

In conclusion, presenting yourself effectively on the executive search market requires a range of skills and strategies. By knowing your numbers, focusing on how you can add value, and having a strong online and industry presence, you can stand out from the competition and attract the attention of executive search consultants and potential employers.

Browse our current executive opportunities here, or contact Lee Bhandal on 07590 529 274 or email l.bhandal@parkinsonlee.com to discuss your next C-suite role.

During the initial consideration of the roles of engineers and business leaders, you will see two very different specialist areas. However, if you delve a little deeper, you’ll find there are a number of overlapping attributes and experiences that make Engineers great business leaders.

Powerful engineers and business leaders acquire a like-minded approach to finding advanced solutions, improving processes, and maximising efficiencies.

Although the day-to-day work of an engineer is different from most business leaders, the skills and knowledge obtained from studying and experiencing the specialist field can effectively transfer to leadership careers surprisingly well. In fact, you may be surprised to learn that more than 30% of Fortune 500 CEOs have an engineering degree.

We’ve spent time researching into the two roles, to understand how and why engineering professionals can make the best business leaders.

Proactive Project Planning and Excellent Time Management Skills

Engineers by nature are methodical, analytical, and detail-oriented people. Throughout their years of practical and theoretical training, they’re required to have excellent discipline and time management skills to comply with strict deadlines, research efficiently and identify valuable solutions that adhere to industry compliance and legislation.

The vast sum of money consumed by engineering departments requires professionals with the competent ability to manage the finer details and work collaboratively with various departments to ensure a consistent, productive, and economical operation.

Those who succeed in this area and align with workplace best practices will find the transition into a leadership role pretty straightforward.

Tenacious, Strong Willed, and Active Problem Solvers

Engineers are constantly presented with pushback and strong opinions that a product won’t work, or the market doesn’t require it. The natural instinct of an engineer is to solve ‘impossible’ problems and find the appropriate solutions.

Having a compelling approach to problem-solving is an essential attribute for any successful and influential leader – they need sheer determination to keep the business moving forward, overcome challenges, and solidify the company’s position as a leader of innovation.

Profound Technical Understanding

The ever-developing business world is becoming more technical in nature than we’ve ever known it, which positions Engineers in great stead – they truly understand the nitty-gritty of every technical aspect.

Engineering knowledge encourages a thorough and technical review process throughout each stage of a development project, from concept to completion which makes them some of the most critical assets to any manufacturing business.

Imagine having that level of knowledge, when it comes to implementing a stringent strategy and leading an engineering or manufacturing business.

Understand That Details Matter

Engineers not only strive for perfection in design and product development but also for end-user purposes, they need to ensure the product will enhance the function of the application it’s used in. In doing so, they will work closely with the client to understand the fine details.

The quality and parameters the product functions to is a key objective for both engineers and business leaders – their customer satisfaction and recommendations are essential for a company to continue with its growth projection.

Inability To Shift Blame

Like all professionals, Engineers take great pride in their work; it signifies their reputation.

Throughout each stage of a product development project, a specialist team will focus solely on certain areas, before testing can begin. If an issue is identified, the area of malfunction can be easily found, which usually falls within the scope of a specific engineer or team – no ability to shift blame.

You’ll tend to find, with strong values, engineers are determined to get it right. Similarly, is that of a business leader, if you’re at the top, where do you portion blame? It’s your responsibility to get things right, take accountability and instil that in department heads.

Bridging the Gap Between an Engineer and Business Leader

Engineers hoping to take the next step into a leadership position, whether that be operations, R&D or as an MD, will be required to brush up on their knowledge of other business areas, such as marketing, purchasing, sales, HR, finance, and legal compliance.

Spending time away from the engineering department, will bridge knowledge gaps, broaden horizons, encourage an understanding of the full operation, and provide familiarity with diverse team members, their skills and mindsets.

As a new leader you have to gain trust and buy-in from your stakeholders, so another essential area to work on is emotional intelligence. The most successful leaders have a high level of this and are able to flexibly adapt to situations with varying groups or individuals.

Key Shifts That Turn Good Engineers into Great Leaders

Granted, engineers do tend to veer towards certain personality traits and work styles that make the transition from a solitary individual-thinker to a motivating team leader that bit more challenging. But, when stepping into a new leadership role with the same tenacity and curiosity of the engineering mindset, they thrive.

If you’re an engineer transitioning into a leadership role, here are a couple of shifts you must make to secure your footing as a trusted leader:

Let go of control

As an effective leader, micromanagement doesn’t work and equally, you don’t have the time.

You need to allow your engineers to be innovative, think outside of the box and if you’re too close to the project or giving immediate direction, you may risk losing them as they need the creative freedom and trust to flourish.

Your scope on any project, new development or product now needs to expand wider than the technical capabilities, consider company goals, cost, quality, resources, and the current market. “Being right” and “letting go of control” must reflect the big picture. If there are multiple ways to achieve the outcome or solution, your job is to consider all of them.

Provide encouragement and clear communication

You need to keep your team in the loop with company updates and essential changes, this will ensure they’re engaged and working as one.

It’s vital to remember that each member of your team require different ways of encouragement and support. Take the time to understand what makes them tick, then devise the best strategy and adapt your approach for each team member. You need to ensure each individual feels valued, works effectively, and the project and company goals are aligned and on track.

Even with the benefits of transferable skills, why would engineers be tempted to move into such a different line of work than the one they trained for? While most engineers are paid well, successful business leaders are often paid significantly more. Not only this but also, many want to expand to their knowledge, share it and lead a successful business or department.

Get In Touch

If you want to discuss the executive opportunities out there, or are looking to hire, please contact Managing Partner Lee Bhandal on 07590 529 274 or l.bhandal@parkinsonlee.com