Marc Sniukas’ Post

Reinventing your business

Navigating Leadership Challenges in 2024: Insights for C-Level Executives Recent McKinsey research from 2023 reveals that only 20% of C-Level leaders feel their organizations are fully prepared for rapid technological and market changes. Despite being published in 2023, these findings remain highly relevant at the end of 2024, as the core challenges have not only persisted but, in many cases, intensified. Here’s a deeper look at the key insights: 1️⃣ Speed in Decision-Making: 72% of executives report that traditional processes are slowing down their response to market shifts. The emphasis on agility and cross-functional team dynamics has proven even more crucial as businesses face increasing economic volatility and evolving competitive pressures https://lnkd.in/eT-CzZ8z https://lnkd.in/eSJcMVhZ 2️⃣ Automation and AI: While 60% of leaders identified the potential of automation, only 30% had a clear implementation plan in 2023. This gap continues to be a priority in 2024, as more companies focus on aligning technology initiatives with business outcomes to maximize ROI and sustain growth https://lnkd.in/eimTMaGB 3️⃣ Emotional Intelligence in Leadership: In an era of ongoing uncertainty, emotional intelligence is emerging as a key leadership capability. Half of executives are now investing in developing their emotional intelligence to strengthen resilience and maintain employee engagement https://lnkd.in/euEQy_3J McKinsey & Company The challenges highlighted in these 2023 studies have proven their enduring relevance, as many organizations are still navigating similar dynamics in 2024. Strategic agility, effective use of automation, and a strong focus on emotional intelligence are foundational elements for sustainable leadership. #Leadership, #ExecutiveManagement, #CLevel, #StrategicLeadership, #BusinessTransformation, #DigitalTransformation, #AgileLeadership, #AIinBusiness, #FutureOfWork, #EmotionalIntelligence

In an era marked by rapid technological advances and global shifts, most corporate transformations fall short. Bain & Company reveals that only 12% of change initiatives achieve lasting results. The stakes are high as businesses face pressures from sustainability demands and post-globalization challenges. So what sets successful transformations apart? Here are six principles identified by Forbes for successful change. 1️⃣ 𝗖𝗼𝗻𝘁𝗶𝗻𝘂𝗼𝘂𝘀 𝗧𝗿𝗮𝗻𝘀𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻: Unlike traditional time-bound efforts, successful transformations are ongoing, aligning with the dynamic market demands rather than being episodic. 2️⃣ 𝗜𝗻𝘁𝗲𝗴𝗿𝗮𝘁𝗲𝗱 𝘄𝗶𝘁𝗵 𝗗𝗮𝗶𝗹𝘆 𝗢𝗽𝗲𝗿𝗮𝘁𝗶𝗼𝗻𝘀: Effective transformations are part of the leadership’s daily responsibilities, not isolated projects managed by separate teams. 3️⃣ 𝗠𝗮𝗻𝗮𝗴𝗲𝗱 𝗢𝗿𝗴𝗮𝗻𝗶𝘇𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗘𝗻𝗲𝗿𝗴𝘆: Top transformations manage the energy of their workforce by sequencing changes thoughtfully to minimize disruption and maintaining morale and momentum through recognition and rewards. 4️⃣ 𝗔𝘀𝗽𝗶𝗿𝗮𝘁𝗶𝗼𝗻 𝗼𝘃𝗲𝗿 𝗠𝗲𝗿𝗲 𝗧𝗮𝗿𝗴𝗲𝘁𝘀: Instead of setting benchmarks based on external standards, leading companies aim for breakthroughs that push beyond the industry norms to maximize their potential. 5️⃣ 𝗠𝗶𝗱-𝗟𝗲𝘃𝗲𝗹 𝗘𝘅𝗲𝗰𝘂𝘁𝗶𝘃𝗲 𝗟𝗲𝗮𝗱𝗲𝗿𝘀𝗵𝗶𝗽: Transformations led by mid-level executives, who are closely connected to both strategic and operational levels, tend to be more effective. These leaders are positioned to understand operational shortcomings without losing sight of strategic goals. 6️⃣ 𝗘𝘅𝘁𝗲𝗿𝗻𝗮𝗹 𝗙𝘂𝗻𝗱𝗶𝗻𝗴: Successful transformations often secure external funding through compelling business cases that attract investment from capital markets, ensuring adequate resources for substantial changes. Embracing these principles can dramatically improve the effectiveness of #transformation efforts, helping businesses not only to adapt but thrive in an ever-changing landscape. 👉 How is your organization incorporating these transformation principles to stay ahead in today’s competitive market? #Leadership #BusinessStrategy #CorporateTransformations #TransformationTuesday https://lnkd.in/deXzF_Dq

Corporate innovation is a critical focus for finance services leaders, and we must translate this term into business-wide action. It’s not just limited to the ways we bring more services or improve the existing ones, but also to the strategies and priorities for the future. Being involved day in and out in enhancing the financial functions of an organization requires taking note of disruptions through emerging technologies and a challenging as well as evolving talent market. While going through the top 5 Priorities for CFOs in 2024 of Gartner, I noticed a common pattern across all organizations vis-a-vis transformation leaders’ financial duties. They were and are mainly responsible for resource allocation and cost optimization. But, amid recent trends, transformation and change, they must shift their approach to do the same tasks differently. The following 5 key pointers are what I consider across any transformation: 🔰Vision & Connection Craft a relatable vision that inspires, engages and builds belief. Refine it when necessary. 🔰Inclusive Leadership Show inclusivity, manage cynicism, and build trust by involving teams in design sessions and addressing concerns. 🔰Psychological Safety Assess team health, be open to feedback at all levels, and respond, outlining both opportunities and challenges. 🔰Empowerment & Agility Delegate decision-making, foster a "fail-fast" culture where experimentation is encouraged, and grant autonomy to thoughts and teams. 🔰Technology for People Build tech with user needs in mind, prioritize progress over perfection, and invest in upskilling for a digital-ready future. These steps have enabled me to identify skills and crises to break down silos for a collaborative win. Share your insights on how you drive organizational transformation. https://lnkd.in/dWcg3ewC #FinanceIndustry #Leadership #Transformation

Allison Wright and I are constantly asked: how do we innovate while maintaining stability? It's a question that keeps leaders up at night, and for good reason. 𝐎𝐧𝐥𝐲 𝟐𝟑% 𝐨𝐟 𝐞𝐱𝐞𝐜𝐮𝐭𝐢𝐯𝐞𝐬 believe their organizations are very effective at balancing innovation with core business stability, according to a 2022 PwC report (https://lnkd.in/gWV4dF_n). The good news? There's a clear link between experimentation and success. 𝐎𝐫𝐠𝐚𝐧𝐢𝐳𝐚𝐭𝐢𝐨𝐧𝐬 𝐰𝐢𝐭𝐡 𝐚 𝐬𝐭𝐫𝐨𝐧𝐠 𝐜𝐮𝐥𝐭𝐮𝐫𝐞 𝐨𝐟 𝐞𝐱𝐩𝐞𝐫𝐢𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐚𝐫𝐞 𝟐𝟖% 𝐦𝐨𝐫𝐞 𝐥𝐢𝐤𝐞𝐥𝐲 𝐭𝐨 𝐨𝐮𝐭𝐩𝐞𝐫𝐟𝐨𝐫𝐦 𝐭𝐡𝐞𝐢𝐫 𝐩𝐞𝐞𝐫𝐬 𝐨𝐧 𝐫𝐞𝐯𝐞𝐧𝐮𝐞 𝐠𝐫𝐨𝐰𝐭𝐡, according to a 2021 Gartner study (https://lnkd.in/gNmBcawP). Here's the thing: innovation and stability aren't enemies. Rather, they're two sides of the same coin! We at 3 Keys Consulting, LLC believe that 𝐢𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧 𝐟𝐮𝐞𝐥𝐬 𝐠𝐫𝐨𝐰𝐭𝐡 𝐚𝐧𝐝 𝐤𝐞𝐞𝐩𝐬 𝐲𝐨𝐮 𝐚𝐡𝐞𝐚𝐝 𝐨𝐟 𝐭𝐡𝐞 𝐜𝐮𝐫𝐯𝐞. But without a foundation of stability (think reliable processes and a clear vision), even the most brilliant ideas can crumble. So how do we achieve this Goldilocks balance? Here are my top tips: 𝐄𝐦𝐛𝐫𝐚𝐜𝐞 𝐚 𝐂𝐮𝐥𝐭𝐮𝐫𝐞 𝐨𝐟 𝐄𝐱𝐩𝐞𝐫𝐢𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧: Create a safe space for calculated risks and small-scale experiments. 𝐒𝐞𝐩𝐚𝐫𝐚𝐭𝐞 𝐭𝐡𝐞 𝐂𝐨𝐫𝐞 𝐟𝐫𝐨𝐦 𝐭𝐡𝐞 𝐅𝐥𝐞𝐱𝐢𝐛𝐥𝐞: Identify your organization's core values and processes that provide stability. Then, create space for innovation in peripheral areas where agility is key. 𝐁𝐮𝐢𝐥𝐝 𝐂𝐡𝐚𝐧𝐠𝐞 𝐂𝐡𝐚𝐦𝐩𝐢𝐨𝐧𝐬: Empower employees at all levels to be advocates for change. This creates a network of support and helps manage the human side of transformation. Change is inevitable, but it 𝐝𝐨𝐞𝐬𝐧'𝐭 𝐡𝐚𝐯𝐞 𝐭𝐨 𝐛𝐞 𝐝𝐢𝐬𝐫𝐮𝐩𝐭𝐢𝐯𝐞. By fostering a culture that embraces both innovation and stability, you can create a future-proof organization that thrives in the face of uncertainty. What are your best practices for balancing innovation and stability? Share your thoughts in the comments! #ChangeManagement #Innovation #Leadership #FutureOfWork #InnovationIsTheFuture #KeysToSuccess #ThriveDuringChange #Transformation

Growth remains a top priority for C-level executives, but for many, achieving and sustaining growth remains elusive. In fact, about a quarter of companies dont grow at all, often because leaders limit their exploration of growth opportunities and neglect to make multiple bets. Knowing where to focus has become especially difficult recently as companies struggle with skyrocketing inflation and heavy competition for talent. Even under these conditions, however, profitable, sustained growth remains a possibility. Learn more from McKinsey & Company in this article: Mindset to action: Imperatives for Growth. #growth, #success, #c-suite executives

Are You Winning the Innovation Race or Falling Behind? 🏁 A surprising 54% of executives report challenges in aligning their innovation strategies with their broader business goals, per PwC’s Innovation Benchmark Report. 📊 This misalignment is not just a hurdle. It's a significant barrier, with 72% of companies failing to surpass their competitors in innovation as a direct consequence. 🚧 What’s causing this critical gap? 💡Shiny Object Syndrome: The attraction to the latest technology often overshadows strategic needs, leading to investments that don’t support core business objectives. 📈 Leadership Flux: Shifts in leadership can redirect IT priorities, potentially derailing them from established business strategies. 🛑 Resistance to Change: Holding on to outdated technologies can limit organizational flexibility, hindering adaptation to new strategic demands. 🗣️ Communication Breakdowns: Inadequate communication means IT decisions may not reflect the organization's strategic needs, exacerbating the misalignment. Addressing this alignment is not merely an IT issue—it's a foundational business challenge that demands strategic clarity, robust communication channels, and the agility to adapt to changes in leadership without losing sight of fundamental objectives. 🔗 We need to talk about how crucial this alignment is. How is your organization ensuring that IT strategies not only complement but actively drive your business goals? Share your insights and strategies in the comments below!! 👇👇👇 #IT  #Innovation #Leadership

Starting with #LeeThayer’s comment: the leader doesn’t make the organisation successful; the organisation makes the leader successful, the Forbes article shared by • Sue Tinnish, PhD looks at the mindset of a leader in today’s world of VUCA(volatility, uncertainty, complexity, and ambiguity). It requires the leader to be a virtuoso Question-Asker. As Sue shows, start with the question in mind as leadership is truly a performance art where the measure of performance is: #Performance‼️

In these demanding times where the world faces a whirlpool of changes - climate challenges, economic disruptions, digital revolutions, talent shortages, and regulatory shifts- it's clear there's an urgent call to action for businesses: Transform or fade away. According to the🔹 PwC CEO Survey, a jarring 22% of UK CEOs believe their current business model is not tenacious enough to survive the forthcoming decade. Now, that's an assumption we can't take lightly. But what if I told you, transformation isn't just about survival? It's a strategic🔷 initiative that top-performing companies have mastered as a continuous pursuit of growth and opportunistic exploration.🚀 This isn't a conjecture - PwC's global research substantiates it, showing that 83% of leading companies have modified their business model in the past three years. The question we need to address now is - Who calls the shots⚡in this transformation journey? Some choose the top-down model, some stick with a devolved approach, while others entrust in a dedicated transformation leader. However, increasingly organisations are taking the route of having a Chief Transformation Officer or a Transformation Director. As the founder of 🌐There Be Giants, I strongly believe in transformational leadership. We've been guiding esteemed clients like ITV and Talk Talk, successfully transforming their business models and cultures, ultimately leading to monumental achievements. A competent transformation leader is not just about technical prowess. They possess human qualities like analytical and curious minds, creative and innovative thinking, excellent communication, empathy, crisis management skills, and political wit. And one thing I’ve learnt over the years – a good leader collaborates. They rely on the wisdom of their teams and networks, they admit when they need support, they appreciate and leverage the diversity of their team’s talents. As one wise attendee at the PwC’s Transformation Leaders Network event highlighted: “You need to know who to hire. And you need to hire people who are smarter than you.” Isn't that the truth! 💡 So, let's not sit on our laurels. Let's grab the reins and embrace transformation - for survival, for growth, and for the future. #Transformation #Leadership #BusinessStrategy [Photo by SOULSANA on Unsplash]

The Path to Partnership is Changing—Should the Bar Evolve Too? McKinsey’s decision to admit just 200 new partners this year—a sharp drop from 420 in 2021—shows how the firm is rethinking what it means to lead in consulting. But this shift raises a bigger question: As the market changes, should the bar for partnership evolve too? Traditionally, making partner has meant excelling at leadership, growing the business, and thriving in an "up or out" culture. These qualities are crucial—but in today’s world, are they enough? To keep up with the complexities of modern consulting, the bar shouldn’t be lowered—it should evolve. Firms like McKinsey could expand their view of leadership to include market makers and luminaries: individuals who may not fit the traditional mold but drive massive value as client magnets, innovators, or experts in areas like AI, digital transformation, or sustainability. Here’s how evolving the bar could work: Keep Leadership Core: Retain the focus on leaders who grow the business and build strong teams. Embrace Specialist Impact (in a meaningful way!): Make room for those who disrupt industries or bring unmatched expertise, even if they don’t lead large teams. Build Dynamic Partnerships: Blend traditional leadership with innovation to reflect the realities of today’s consulting market. This isn’t about relaxing standards—it’s about redefining what exceptional looks like. By evolving the bar, firms can create a more dynamic partnership model that stays competitive, attracts diverse talent, and better serves clients in a world that demands new ways of thinking. As consulting demand normalizes post-pandemic, this evolution might not just be smart—it could be essential. #LeadershipEvolution #ConsultingTrends #ConsultingLeadership