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CEO Development Review
A well designed and facilitated CEO Development Review is one of the very best investments an organisation can make. In our experience the most CEOs are disappointed with their performance review for the following main reasons:
- many reviews are done irregularly or not done at all so the CEO receives little if any formal feedback
- some reviews consists simply of a comparison of some pre-agreed metrics with the hurdle rates set to determine the extent to which their CEO should receive a bonus
- there is rarely any quantitative measurement of their leadership, execution and personal attributes unless it is done by way of a 360 feedback process
- the perspectives of the CEO’s direct reports are rarely taken into account in a CEO development review unless it is done by way of a formal 360 feedback process
- most directors do not provide any input into the review process and most don’t receive sufficient feedback once the process has been completed
- many reviews are not well documented and sometimes don’t include input from the CEO prior to being finalised on behalf of the board
Even if many of the issues referred to above are dealt with well not enough reviews are focused on the constructive support, development and challenge of the CEO.
A bespoke approach
Insync has developed a bespoke approach for conducting a constructive development review for CEOs which includes an interview with the CEO and a 45 minute structured interview of all directors and the CEO’s direct reports.
The interviews include a few minutes gathering a quantitative view of each participant in relation to eight to 10 of Insync’s 35 attributes of a great CEO as well perspectives of the CEO’s strengths and the biggest opportunities for the CEO to improve.
Once complete a detailed report including many unattributed comments made by interviewees is prepared for the Chair and the CEO. The report includes both a quantitative and a qualitative component.
Insync always recommends that the process and timing that will be used to provide feedback to the CEO be agreed up front and once agreed not changed to maintain the integrity of the process.