The Client:

A global $60+ billion fintech company

The Challenge:

The Founder/CEO was a well-liked leader at the firm, but his conflict avoidant management style had left many members of his executive team frustrated and angry over his handling of a recent executive team departure. In addition, the Board had been concerned about the high turnover rate among the executives, which had cast doubt on the CEO’s ability to retain top talent.

Background:

Understanding the severity of the situation, the CEO was eager to gather 360-degree feedback to learn more about his team's perspectives, demonstrate his commitment to soliciting their input, and build trust. His goal was to fortify relationships within the executive team to navigate a critical period of growth at the company.

Assessment:

360 Process: I conducted a comprehensive 360-degree feedback process, interviewing all nine executive team members, the Board Chair, and two prominent Board members. Using grounded theory qualitative research methods, I analyzed the data and delivered a confidential, robust 360 Feedback Report to the CEO, complete with actionable recommendations. These were informed by both the feedback and my extensive experience advising leaders, supplemented by the Optimal Outcomes method and advanced leadership and conflict management tools.

CEO Takeaways: From the 360 assessment, the CEO gained critical insights into the effects of his behavior on his team. He discovered that while his authenticity, embodiment of company values, and industry expertise were appreciated, his reluctance to provide feedback to his direct reports was a major pain point. This clarity allowed him to identify specific actions to improve relationships and build trust within his team.

Coaching Process: Using the 360 Feedback Report, the CEO and I outlined a strategic plan to enhance his interactions with his direct reports. Over 18 months, we met bi-weekly in one-hour sessions. These sessions were dedicated to reflection, integrating new insights, and preparing the CEO to implement the strategies we discussed effectively.

Results:

The CEO worked to reset his relationships with the discontented executives. He actively listened to their concerns and communicated his decision-making processes transparently, especially when he suspected the decisions would be unpopular. He also improved his ability to provide honest, direct feedback in a kind way.

The Bottom Line:

With restored relationships and trust, the executive team refocused on their growth objectives. The results were significant: net profits increased by over 34% within a year, and there was zero turnover on the executive team. The CEO’s commitment to personal growth and leadership transformation proved to be a catalyst for the company’s success during a pivotal period.