The Most Common Challenges & Opportunities of an MD/CEO of an SME
MDs & CEOs of SMEs face challenges in resources, people, growth, and personal development. Peer advisory boards with experienced chairs offer solutions.
Is Management the Only Career Option?
Not all good practitioners make good managers, not all good players make good managers, not all good sales people make good managers, etc., etc., etc.
So why do most businesses only have career paths where promotion to Management is the only way to further one's career?
When I saw this post from Bryan Hancock McKinsey & Company it resonated with me as we have been having these discussions with some of our Pabasso - Peer Advisory Board Associates members about this very challenge.
Some people are really good at what they do and they enjoy what they do, but not everyone is cut out for or indeed wants to be a Manager.
That does not mean they are not ambitious and it doesn't make them any less valuable as employees but unless we recognise this and create an alternative career path to a Managerial role there is a danger we may lose them.
What about a parallel career path that allows for promotion as a specialist within a field?
Status is important to most people and this can be achieved with an upward career path that attracts higher salaries, more responsibility, and a new title - without having to become a Manager.
Next time you think about promoting a great contributor to a Management role consider the alternatives - if they do not want to become a Manager it can be a very costly mistake.
We currently have a vacancy in one of our Yorkshire-based Pabasso - Peer Advisory Board Associates boards so if you would like to know more about how we at Pabasso - Peer Advisory Board Associates help leaders of established businesses progress through shared experiences, expertise, and support, please do not hesitate to get in touch.
Happy New Year from us all Pabasso - Peer Advisory Board Associates - The Potency of Peers!
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