Executives often get to the C-suite with years of niche managerial or technical training specific to their role and industry. That level of expertise is crucial to helping them climb the corporate ladder, but can become a hindrance when they get to the top.
The future of business belongs to “myriad” leaders, or folks with varying professional backgrounds, cross-generational ideas, and problem-solving skills, according to a recent study from Bridge Partners, an executive search firm. When asked which abilities are most crucial to leadership teams over the next five years, 56% of executives said more diversity in professional backgrounds (different industries, functions), followed by cognitive diversity (different ways of thinking and problem-solving) at 55%, and then ethnic and cultural diversity at 33%.
To find these “myriad” leaders, experts recommend that recruiters prioritize looking for soft skills in executives during the hiring process, like strategic thinking, agility, and the ability to collaborate effectively. And companies shouldn’t hesitate to hire outside-of-the-box candidates. For CEOs, that could mean looking past the traditional sales-to-C-suite pipeline and considering people who have worked in other departments.
“Future successful leaders have sat in different seats, gone to different functions, different organizations, different industries, even lived in multiple countries,” Ryan Whitacre, a partner at Bridge Partners, tells Fortune. “It’s those sorts of perspectives that we see being first and foremost, for the next five years.”
Mary Barra, CEO of General Motors who’s held the position for nearly a decade, is a great example of this, he says. While she has more than 30 years of experience at the company, she’s held roles in manufacturing, product development, operations, human resources, and even on-site as a plant manager, according to her LinkedIn.
For companies looking to better develop the leaders they already have, one of the best ways to do so is through rotational programs, the study points out. That means placing top talent for a limited period of time on teams they may not usually work with, or have little familiarity with.
“We see organizations like GE having done this for many years,” says Whitacre. “They’ll intentionally take someone from HR, and move them to the business so they’re exposed to different parts of the company and are able to adapt whenever needed.”
Brit Morse
brit.morse@fortune.com
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Today’s edition was curated by Emma Burleigh.
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