How to Build a High-Performing Leadership Team
One of the most common questions I get asked as a specialist executive search consultant, is how to build a high-performing leadership team. Whether it’s on a panel at an iGaming or PayTech event, or face-to-face with clients, this question comes up time and time again.
Building a high-performing leadership team is no small feat and one article on the subject is not going to give you all the answers. But I hope this piece, sharing my experience working with leaders and clients across the iGaming and PayTech sectors, will provide you with useful insights and practical strategies to take steps in the right direction.
Please don’t hesitate to reach out if you have any further questions on this subject, and I will endeavour to provide you with answers.
The Challenges of Optimising Leadership with Strategy
The need to align leadership with your business strategy has never been more critical. The pace of change and competition in the sector we operate in, requires leaders who can adapt, innovate and drive your business forward. However, the path to a high-performing leadership team can be fraught with challenges.
One major challenge is initiating meaningful change. It's not enough to hire new leaders; you must also create a culture and environment that supports their objectives. To do this effectively it's crucial to assess the current state of your business. This assessment should identify areas that require transformation and how your leadership team can drive that change.
Hiring Is Not Always the Answer
While bringing in new talent is often necessary, it's essential to recognise that simply hiring new talent isn't a panacea. Sometimes, organisational structure and leadership dynamics need to be resolved before adding new members to the team. Identifying and addressing these issues can be a game-changer.
Imagine a high-performing leadership team as a symphony orchestra. Each musician must play their part, but without a conductor (effective leadership dynamics) and the right arrangement (organisational structure), the result may be discord rather than harmony. Before introducing new players, make sure the stage is set for success.
Aligning Culture with Transformational Leadership
It's crucial to remember that even the most capable leaders can't perform at their best if the company culture isn't supportive of their efforts. It can be a Catch 22. You’re looking for transformational change and require talent to get you there. But if your culture is resistant to change or lacks the necessary adaptability, you may find your leadership team is stifled.
It follows that addressing culture should be your highest priority in order to create the right environment for further innovation. Therefore, if you don’t have them already, leaders who can drive cultural change should be your first hires.
Define High-Performing for Your Company
"High-performing" means different things to different organisations. To build a leadership team that truly aligns with your strategic goals, you must have a clear view of what high performance means in your context. This requires a deep understanding of your business, industry and long-term objectives.
Define the specific attributes, skills and behaviours that your leadership team should exhibit to be considered high-performing in your company. This will serve as a foundation for all your talent acquisition, development and performance evaluation processes.
Clearly Define Roles and Responsibilities
An effective leadership team can only work collaboratively and efficiently if roles and responsibilities are well-defined. This clarity is vital for avoiding overlap, miscommunication and potential conflicts within the team.
Ensure that each leader's role aligns with their strengths, skills and areas of expertise. Clearly articulate the objectives and expectations for each position, and encourage open communication to promote teamwork and a shared vision.
When you have addressed the factors above, it becomes much clearer whether you have the right talent within your existing leadership team and how to support them effectively if you have. It also clarifies how, when and where to strategically introduce new talent if needed.
If you’re working with HR professionals, hiring managers or executive search providers, this becomes even more crucial. Everyone needs to be on the same page to optimise your leadership team for success.
This is why at Marden we advocates a fully transparent and consultative approach. We aim to know your business as well as you do, so we can tailor our process to your needs: connecting, analysing and, only then, addressing your requirements with the right services to unlock leadership potential. As strategic partners, we’re here to guide you on this transformative journey and help you build the high-performing leadership team you need.
If you have any questions or need assistance, please feel free to reach out to me. Contact me via email andrew.cook@mardenexecutive.com or connect with me on LinkedIn here.