In business, staying ahead isn’t just about what you do; it’s about what you know. And who needs to know the most? The folks in the C-suite. These are the decision-makers who chart the course for the entire company.
In order to stay ahead, companies need leaders who are not just experienced managers but also can lead teams that are diverse, know their way around technology, and are spread across the globe. Leaders need to bring together teams that are very different from each other, handle surprises well, and make smart choices.
In this article, we’ll share real-world examples of how learning & development can help those in C-suite positions better lead their companies, as well as stats and research that support these recommendations.
In his TED Talk, “How great leaders inspire action,” Simon Sinek discusses the power of belief.
He says, “Leaders hold a position of power or authority, but those who lead inspire us. Whether they're individuals or organizations, we follow those who lead, not because we have to, but because we want to. We follow those who lead, not for them, but for ourselves. And it's those who start with "why" that have the ability to inspire those around them or find others who inspire them.”
When Satya Nadella took over as CEO of Microsoft, he believed that the company needed to shift from its traditional, hierarchical culture to a more inclusive and innovative one. He immersed himself in different training sessions on everything from AI to business strategies.
Nadella recognized that the C-suite isn’t exempt from learning. He believed that cloud computing and artificial intelligence (AI) would shape the future of tech companies, so he trained himself in these technologies. As a result, Microsoft’s Azure cloud platform became a major revenue driver, and AI capabilities were integrated into products like Office 365 and Azure Cognitive Services.
He participated in strategic planning workshops and learned about M&A (mergers and acquisitions) strategies. This resulted in successful acquisitions, including LinkedIn and GitHub, expanding its portfolio and market presence. His active engagement with developers through conferences, hackathons, and training sessions resulted in the growth of Microsoft’s developer community, and initiatives like Visual Studio Code gained popularity.
Nadella’s actions are an example of Presence Leadership. He set about projecting confidence, authenticity, and empathy in a way that influences and inspires others. A leader with a strong presence can effectively motivate their teams, build trust, and drive positive change.
The global corporate leadership training market, currently valued at $35.52 billion, is projected to reach $63.19 billion by 2030, displaying a robust annual growth rate of 8.58%. These stats reveal the increasing demand for leadership development, particularly among professionals aspiring to C-suite positions.
Microsoft isn’t the only example of successful leadership development. Companies like Google and Apple have invested heavily in leadership development to stay ahead of rapid technological changes and innovation cycles. General Electric (GE) is renowned for its leadership development programs and has consistently produced CEOs who are sought after by other organizations.
These companies have set benchmarks in leadership development, and their practices in C-suite training have trickled down to benefit the entire organization, from fostering a strong leadership pipeline to enhancing overall performance and culture.
Despite the success of leadership development in organizations like Microsoft, Apple, Google, and GE, research from Russell Reynolds Associates shows that only two in five leaders feel confident about their C-suite’s ability to drive performance. Given the rapid advances in workplace technology, the need for C-suite training is especially high today. Many in today’s C-suite could use upskilling on new technology.
Research shows that only two in five leaders feel confident about their C-suite’s ability to drive performance.
C-suite training can help equip leaders with the skills to be present, engaged, and effective in their roles. The benefits of C-suite training are not confined to the executives alone. The skills and behaviors they acquire and exhibit can influence the entire organization, leading to a more effective, cohesive, and high-performing workforce.
As your learning partner, ELB Learning offers pre-packaged and customized leadership training programs. We stay focused on developing crucial skills for new and seasoned leaders using practical tools and techniques to help transform leadership behaviors. Our carefully curated leadership courses offer the perfect foundation for customizing and delivering accelerated training for your leaders. Together with our expert facilitators, we ensure your training is engaging and effective. The competitive landscape expects nothing less.