Leadership is a trait of leaders and it is a skill that keeps evolving with more growth and more responsibilities. Leadership also brings accountability on the part of the leader. Talking about organizations, CEOs are the leaders and we are going to discuss about CEO accountability here. When an old CEO retires, he paves way for a new one. To ensure that the new CEO works well, there is a dire need for organizational checks and balances to keep CEOs accountable.
The question of a person leading in a role is a pivotal one. The old adage holds true here – the fish starts rotting from the head. So, it is imperative that people and policies are in place to stop the earliest hints of the leadership going off track. For CEOs, these checks pose and equal opportunity for such growth. When you say that a CEO is accountable, it should come with continuous feedback, a group of trusted board members along with mentorship.
Ultimately, businesses can live and die by the public perception of a company’s CEO. If you want to ensure governance accountability with your CEO in the organization, here are some ways to do it.
If you, as a board member, wants to ensure CEO accountability in your organization, you must make sure that the board engages with the CEO from time to time. The role of the board has also evolved and it plays a pivotal role in corporate governance. A board collectively can help a CEO understand and define company culture in front of the employees.
Successful CEOs should operate vertically as well as horizontally in the organization. The theory of organization suggests that managing upward and sideways is both good for the company and the individual leader’s career. If CEOs want to grow in their lives and professional environment, they also need insights and pushback of trusted executives to help sharpen their strategy.
For CEOs, functional leadership play a vital role and they must offer criticisms without implications that will further allow the lateral feedback to be constructive and it will also prevent disaster.
Self-reflection is a crucial trait of any CEO. CEO is already at the topmost position in any organization and there is no one to keep an eye on him or her. So, how does he improve? Simple, by reflecting one’s own behavior and decisions. It has been proved that a person can learn from his own mistakes in life and that is what a CEO must do.
A CEO must constantly evaluate himself on what he or she can do to improve performance and that of the company. From operations to finances, the CEO must continuous appraise oneself. CEOs can also take trainings in the fields where he feels he is lacking.
If you want more information about keeping CEO accountability in your organization, you can reach out to us.
Brody Lukas is the author of this website and writes articles for a long time. To know more about CEO Accountability and Governance Accountability please visit the website.