Should I Join a Peer Roundtable or Hire an Executive Coach?
Coaching
Most CEOs I know have engaged an executive coach at one point or another. Having a skilled coach lead you through inquiry is immensely valuable – asking questions that help you think differently and see options and opportunities you could not discover independently. Some CEOs have a coach they work with on an ongoing basis. Others engage a coach for a limited time to overcome a challenge or to address a growth opportunity.
“As a business owner and CEO, your personal and business ambitions are intertwined. Coaching operates at the intersection of individual and business goals, helping leaders realize potential in all areas of life.”
Chrissy Keeton, Control Y, Executive Coach & Consultant
Peer Roundtables
Many CEOs also participate in peer roundtables, where they learn from one another’s experiences and find support in what is often a lonely role. Peer groups help CEOs gain perspective, learn from outside their industry, and work on their own health and happiness. There are many more reasons to join a CEO Roundtable, and peer group expert Leo Bottary lists 25.
Both coaching and peer roundtables can help individual leaders grow and be more successful at work and life. So, which one should you pursue?
My answer hinges on this question. Are you living the life you want and making the most of the opportunity your business offers you? If you want more – more success, more growth, more peace, more family time – then “both” is probably the answer.
Tim Morgan, CEO of Mid-Atlantic Entry Systems, agrees:
My answer is to do both. I have been a member of a CEO roundtable for nearly 10 years. My roundtable is a place where I can have vulnerable conversations about challenges and opportunities – both business and personal. My RT members ask thought-provoking questions and share their experiences with similar situations.
I have considered hiring an executive coach for a long time but have avoided doing so. I had many reasons for delaying the process: I was scared to hear what they would tell me; I questioned whether I could afford it; and I wondered if I would be able to change and implement what they taught me. About six months ago, I retained a coach from Eure Consulting to help me move our organization forward. We have worked on defining our culture rather than letting our culture define us. We now have structure to our meetings and problem-solving processes. They have also provided us with methods for setting short- and long-term goals and ways to attain them. I must admit it has been a huge change for us, but we improve every week.
My roundtable gives me a group to share my problems and accomplishments with, in a forum where I can say anything without fear of judgment and with the confidence that what I say stays within the room. My coach is helping us build our team, our processes, and our plan for the future.
Essential Employee Retention Strategies
Prioritize well-being, a sense of purpose, & employee growth
In 2024, organizations continue to face challenges to attract and retain top talent. These increasing challenges are in part due to a highly competitive landscape for specialized skills, a demographic shift in the workforce (baby boomers are retiring, and Gen Z is filling their roles), and the reshaping of workforce dynamics where the mindset has shifted from “living to work” to “working to live.”
These driving forces place greater importance on the critical nature of businesses to evaluate their retention strategies to foster engagement, happiness, and eagerness to stay. Implementing strategies that align with the evolving needs and expectations is essential. This article outlines key areas to consider when developing (or reevaluating) your retention program.
1. Develop an agile leadership team
Leadership styles in 2024 need to be agile, adaptive, and empathetic. Leaders who actively listen, respond to their team’s evolving needs, and provide support and guidance are critical to employee satisfaction and retention. Achieving this may require an investment in leadership and management training and coaching. Better managers = Happier employees = Greater engagement.
2. Be transparent
Open and transparent communication is essential for building trust within an organization and between managers and employees. Keep employees informed about company goals, challenges, and successes to ensure that employees feel valued and a part of the greater mission.
3. Show your employees they are valued
Organizations must create a workplace where each employee feels seen, heard, and valued as an individual. This quote from Pamela Stroko of Oracle Corporation perfectly captures this sentiment, “People want to know that they matter, and they want to be treated as people. That’s the new talent contract.”
4. Invest in professional development
Employees value employers who invest in their growth. Continuous learning and development are key retention drivers. Implement personalized training programs, mentorship initiatives, and upskilling opportunities to ensure employees feel invested in and have a clear path for career growth.
5. Prioritize employee well-being
Employee well-being is paramount. Go beyond traditional benefits to actively support holistic health. Embrace mental health programs, flexible work arrangements, and wellness resources as a means to contribute to a workplace culture that values your employee’s happiness.
6. Embrace a flexible work model
Remote and hybrid work has become the norm– the traditional 9-to-5 office model has been reshaped. To retain top talent, companies must offer flexibility in work arrangements such as remote workdays like “work from home Friday’s” or flexible workdays on holidays or special occasions. Establish clear policies and guidelines governing flexible work arrangements to ensure consistency, fairness, and transparency. Communicate these policies effectively. Being flexible builds trust between you and your employees to deliver results independently.
7. Engage in social responsibility initiatives to foster a sense of purpose
Employees seek purpose beyond a paycheck. Companies that actively engage in social responsibility initiatives and clearly articulate their broader impact on society attract and retain talent seeking a purpose in their work.
8. Refresh your performance review process
As remote and hybrid work become the norm, the traditional review process needs to be reevaluated. Modified versions must be embraced to proactively create a more relevant process to respond to this evolving dynamic. To learn more about this topic, read Warren Whitney’s article on Refreshing your Performance Reviews.
9. Acknowledge and reward your employees
Regularly acknowledging and rewarding employees for their contributions will foster a positive work environment. Personalized recognition through public praise or tailored incentives reinforces the value that each employee brings to the organization — recognition like this can greatly impact job satisfaction and employee loyalty.
10. Integrate advanced technology
Embrace cutting-edge technologies that enhance the employee experience. Staying current with your technology boosts productivity and demonstrates a commitment to innovation and efficiency.
In conclusion
As we navigate the ever-evolving workforce landscape, retention strategies revolve around creating an environment that prioritizes trust, well-being, growth, recognition, and a sense of purpose. Organizations that proactively address these elements will retain their top talent and position themselves as employers of choice in an increasingly competitive job market. By investing in their people, companies can build a workforce that is not just content but genuinely enthusiastic about contributing to the organization’s success for the long term.
Contributed by Eric Wann, Warren Whitney
Warren Whitney’s HR team works with business leaders to strategically evaluate your best path forward. Our work includes strategy consulting, in-depth compensation and benefits analysis, organizational structure and planning, as well as talent management. If you have any questions or seek further clarification, please call us at 804.282.9566 or email Stephanie Ford at sford@warrenwhitney.com. We do not charge for the initial call. We want to learn more about your business needs.
MAKING POTENTIAL HAPPEN
VA Council of CEOs Presents McCabe Award to Bob Clark
Richmond, Virginia: The Virginia Council of CEOs (VACEOs), a non-profit association serving more than 200 small and mid-sized business owners, presented the Charles E. McCabe Leadership Award on May 2, 2024 at the Annual VACEOs Spring Retreat held at The Greenbrier Resort.
The McCabe Leadership Award, presented by the Virginia Council of CEOs Board of Directors, recognizes VACEOs members who make significant, long-term leadership contributions to the Council. Chuck McCabe, Founding Chairman of the Council, was appropriately named as the first recipient of the award in 2017.
Bob Clark became President of Baskerville in 2004. He joined VACEOs in 2005. He has participated in both a roundtable and a forum, serving as leader of these peer groups several times. Bob joined the VACEOs board in 2016. He served as Treasurer in 2017 and 2018. He became Vice Chair in 2019 and Chairman in the tumultuous year of 2020.
Executive Director Scot McRoberts said, “Bob was the perfect pandemic leader. When the world locked down and our in-person organization had to become virtual almost overnight, Bob helped our board make fast decisions, take risks, and ultimately serve our members brilliantly.”
In his past-chair year of 2021, Bob resumed the Treasurer role for half the year due to a resignation. Bob has always said yes to everything we’ve asked him to do, served gladly, and led with resolve.
Tom Cricchi, 2023 McCabe award recipient and close friend of Bob, described Bob as “a man of principle[,] very committed to the idea of openness, transparency, vulnerability, and sharing. He truly is an MVP in our group,” while reading the award citation.
Join VACEOs for Fall Leaders Conference 2024: Breakthrough Conversations with Marcus Sheridan
Bring your team!
The Fall Leaders Conference is open to all leaders, not just VACEOs members.
Join VACEOs on September 26, 2024, at the Jepson Alumni Center to spend the afternoon with Marcus Sheridan – marketing expert, world-renowned speaker, and bestselling author.
Leadership in the post-pandemic era has undergone a seismic shift. It’s evolved beyond the confines of merely building a “business” to crafting a genuine “team”—a symphony of deep, human-to-human connections. This is where you, the leader, turn the ordinary into the extraordinary.
So what is the solution to this tremendous challenge? The answer rests on an often over-looked, under-appreciated skill: better leadership communication. Marcus Sheridan has built a powerful and inspiring program: Breakthrough Conversations.
Marcus Sheridan, an expert in the field of communication and leadership and a favorite of VACEOs, has developed his newest program anchored in a 4-pillar leadership communication framework—intuitive, actionable, and designed to revolutionize the way leaders engage, influence, and connect.
This program unfolds the secrets of communication, equipping leaders, managers, and team members with the tools to:
- Elevate every interaction within the workplace, from one-on-ones to team huddles.
- Instill a culture of self-solution and leadership growth within their teams.
- Foster a deeply connected team environment, nurturing loyalty and a profound sense of belonging.
- Engage with customers in a manner that cements trust and resolves concerns with unwavering precision.
Marcus Sheridan’s signature approach guarantees an immersive experience, transforming passive listening into active engagement, ensuring that each element of his program doesn’t just resonate but truly sticks, with clear, actionable takeaways for all attendees.
This program is ideal for those seeking to enhance their leadership acumen, influence, and communication prowess—fueling a robust company culture, amplified team performance, elevated sales, and fortified employee retention.
Participants will walk away with:
- The confidence to transform any challenging interaction into a positive, trust-building moment.
- The blueprint to cultivate a pervasive culture of leadership development.
- The acumen to ask the kind of questions that cut through noise and lay bare the heart of the issue.
- An enhanced awareness of conversation pitfalls and the skills to preemptively address them.
- The ability to consistently catalyze “aha” moments that propel day-to-day communications to new heights.
- A clear framework of leadership communication to apply instantaneously to both their personal and professional lives.
The afternoon will conclude with a networking reception.
Sponsors
Thank you to Robins School of Business Graduate Programs, Mike King Biz, Bamboo Teaming, and Lee Construction Group, Inc. for being a sponsor of this event.
Schedule for the day:
Thursday, September 26
12:30 PM: Registration and Networking
1:00 PM: Welcome and Announcements
1:00 PM – 5:00 PM: Marcus Sheridan, Breakthrough Conversations (with three 15-minute breaks)
5:00 PM – 6:00 PM: Reception
Who is this for:
This program is open to all CEOs and business leaders and their teams looking to improve their communication skills to build more connected, effective, and loyal teams.
About the Speaker
As a world-renowned communication expert, author, and keynote speaker, Marcus Sheridan helps brands, sales teams, and leaders build deeper human connections and establish more trust with their audiences.
With over 13 years of experience in the speaking industry and 23 years as an entrepreneur, Marcus has honed his craft as a master communicator, helping individuals and organizations transform the way they connect, engage, and influence.
His expertise has been tactfully applied across a diverse range of subjects including Sales, Leadership, Marketing, AI, personal development, and trust.
Marcus Sheridan’s pioneering approach to communication and connection has sparked a paradigm shift, inspiring businesses to adopt a culture of greater transparency and authenticity with their customers world-wide.
Forbes has named Marcus “1 of 20 Speakers You Don’t Want to Miss” and his book, They Ask You Answer, was named one of the “Top 5 Marketing Books of All-Time” by Book Authority.
Recent Comments