That was one of the key takeaways at CEO Evolution, a panel discussion sponsored in January by the University of Connecticut School of Business in Storrs and held at UConn Stamford.
Four roundtable panelists, all Connecticut CEOs, discussed the challenges they’ve faced while leading their businesses through tremendous growth. Speaking at the event were Linda McMahon, co-founder and former CEO of World Wrestling Entertainment; Austin McChord, founder and CEO of data solutions company Datto; Paul Senecal, partner of facilities contractor United Services of America; and John Votto, president and CEO of the Hospital for Special Care.
All four emphasized the importance of workforce management, including assembling the right talent, influencing the talent, communicating with and enabling employees, and creating accountability for workers. They also observed that empowering employees to contribute to the growth of the business is a way to instill commitment to the company and clients—key ingredients in expanding operations. Panel moderator Mark Fagan of accounting firm Citrin Cooperman noted that CEOs should focus their attention on strategic activities versus tactical ones, adding that the success of a company depends greatly on a CEO’s understanding of the business, anticipation of changes, and strategic thinking.