IBM conducts a biannual study of global CEOs to determine the latest trends in global organizations. In a HBR chat, Saul Berman and Stephen Hasselmann discuss some of the findings from their recent study. If you have an hour to invest, the recording is well worth the time; otherwise the highlights are available here.
The key takeaway from both the study and the chat is the value of connecting employees, partners and customers. Technology is changing rapidly and the advances that result are changing the business and economic landscape for most companies. We are more connected than ever and the most effective CEOs not only understand this but embrace it.
The study highlights three main beliefs of exceptional CEOs which are:
- Organizational openness and collaboration
- Engaging customers as individuals
- Amplifying innovation with partnerships
Essentially, these CEOs understand that collaboration drives innovation and a shared purpose drives motivation. Providing quarterly updates on company performance, the mission and future goals helps drive an open culture where employees understand and support the company’s vision. As a result, employees can become more empowered by making task related decisions; such as scheduling collaboration sessions or determining procedures. This results in job enrichment which can increase motivation.
Additionally, these CEOs understand the power of social media and tailoring products and services to individual needs. Engaging with customers allows organizations to improve response and accuracy to market needs. Nilofer Merchant wrote a great series on the Social Era stating that organization need to have conversations with customers; they should be sharing experiences, not telling customer what to think and how to act.
Finally, these CEOs understand that partnerships can push collaboration beyond traditional boundaries. Every organization has a set of core competencies, specific skills that they excel at, and the best CEOs form partnerships around these core competencies. Instead of trying to do everything in-house, they work with other organizations to generate new revenues sources or even create new industries.
However, understanding and embracing the value of connections is useless if an organization does not invest in the tools and resources needed to connect employees to colleagues, customers and business partners. Video conferencing and UC solutions are a critical component of any savvy organization’s IT strategy. These solutions allow people to connect effortlessly, as well as, develop trust and strengthen relationships through face-to-face communication and casual interactions.