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
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Today’s edition was curated by Emma Burleigh.
Around the Table
A round-up of the most important HR headlines.
Santander is rolling out a wave of job cuts at its U.K .headquarters as it looks to trim costs. Bloomberg
Spirit Airlines plans to lay off workers as the company dials back its flight schedules and sells aircrafts to stay afloat amid financial pressures. WSJ
Bed Bath & Beyond’s parent company Beyond Inc. will fire 20% of its workforce. Business Insider
Striking Boeing workers’ demand to reinstate a defined-benefit pension plan shows that employees long for old retirement perks that have been largely replaced by 401(k)s. Washington Post
Watercooler
Everything you need to know from Fortune.
Bullying and bickering. A new study has found that general counsel staffers at major companies are bullying each other through “subtle sabotage,” leading to mental health issues. —Ryan Hogg
Fumbled. A Shark Tank entrepreneur criticized the “worst job application” she’s ever received in a TikTok video, calling out ChatGPT prompts and proofreading mistakes. —Orianna Rosa Royle
Election plans. HR and workplace experts weigh in on how bosses should handle political division in the office, from starting meaningful conversations to navigating tension. —Sheryl Estrada
