The accountabilities for CEOs vary widely depending on a multitude of factors such as the company’s maturity, position in the industry, its values, purpose, culture, competition, previous performance levels and the future of the industry in which it does business. But here is a general list for your consideration.
Step 1 – Define CEO’s Accountability
The CEO is responsible for the following.
Step 2 – Define the expected outcomes for fulfilling these responsibilities.
Step 3 – CEOs’ Metrix of Success - What is the CEO measured ‘against’ to evaluate their success?
(All these are measurable, although they may need to be further refined)
Step 4 – Conditions of Satisfaction
· These are negotiated between the owners/board and the CEO.
[Conditions of satisfaction are the conditions needed and wanted by the CEO of the partners, employees and executives to succeed in fulfilling their CEO accountabilities.
Examples: As CEO of Insight Coaching and Consulting, these are some of our conditions of satisfaction.
If there is a board of directors, the CEO’s accountabilities are negotiated with the board. If there is no board, but there are partners operating as the board, then the CEO’s accountabilities are negotiated with this body.
I strongly recommend you utilize a facilitator to actualize the CEO’s accountability. The 4 Steps listed above are the elements I use to take the CEO and their committed listeners through the process. Accountabilities must be mutually agreed upon between the CEO and their committed listeners.
The type and frequency of meetings and assessments on the fulfillment of the CEO’s accountabilities is also determined at this negotiation. We suggest revisiting the CEO’s accountabilities at a minimum of once a year, but we have found that biyearly works best.
In addition, in our company there are three things I have found about being accountable as the CEO. First, accountability requires mindfulness, acceptance, honesty and courage. Two, neither age nor experience matters when it comes to being accountable. Three, make sure you have the right people around you that want you to succeed in fulfilling your accountability as CEO. You can’t win unless the team wants you win.
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