In the business world, the leadership role is sometimes not taken on by a single individual, but rather a group of people who collaborate to fulfill the responsibilities and decision-making of senior positions. Particularly during changes in high-level corporate structure, such as acquisitions, mergers, or strategic adjustments, co-leadership is especially common. The outcomes of this collaborative approach are multifaceted, with both positive aspects and challenges.
Recent research suggests that, in the past 25 years, the performance of 87 publicly-traded companies practicing a Co-CEO or joint CEO model has often exceeded the average level of their industries. Combining individuals’ complementary skills and unique perspectives can yield distinctive creativity and strategic insight when addressing complex issues. It offers greater depth in decision-making, leads to better performance, and contributes to the leaders’ resilience and sense of well-being, while also reducing the risk of job burnout.
However, the co-leadership model can also nurture an unhealthy competitive culture, where participants may focus more on how to attain higher personal status rather than striving for the common goals of the organization. This self-driven dynamic can lead to misalignment, inertia, and chaos within an organization. From my observations, pursuing such personalized paths is disadvantageous for all involved. Your superiors, colleagues, and even customers, can become frustrated with such behavior. Eventually, when the dust settles, you may realize that you haven’t focused on the very performance you were meant to achieve.
If one wishes to be successful as a co-leader, it is essential to maintain an honest, courageous, and positive attitude, and to accept the inconveniences of teamwork. To become better equipped for the responsibilities of co-leadership, here I introduce seven strategies:
Firstly, establishing trust is crucial, which requires showing a more sincere side of oneself to other leaders. In other words, share your desires, ideas, and emotions with them. Through such interactions, others can more readily understand your intentions, even if you might initially hesitate, fearing that they will exploit the weaknesses you reveal. Given this concern, when a C-level executive asked how to handle such a situation, I advised him to adopt a positive outlook toward this kind of open interaction.
To achieve this goal, some suggest spending time together informally, such as dining or walking together. I tend to believe that finding opportunities in the workplace to share your professional experiences, achievements, and lessons from failures is more appropriate. When preparing to discuss these topics, consider three questions: What message do I want to convey? What is the right timing? How can I communicate my intentions effectively?
For instance, when discussing important decisions, you might share a story from your childhood, which adds depth and meaning to the conversation. You could express it this way: “As we consider this important decision, let’s reflect on the kind of imprint it will ultimately leave. During my childhood, my mother was a teacher, and she often emphasized that instead of having a wonderful experience in school, it is better to cultivate more confident and powerful students as adults.”
Secondly, when facing complex issues that require individual responsibility, do not hesitate to proactively seek the opinions and suggestions of fellow leaders. This helps not only with problem-solving but also strengthens the team’s spirit of cooperation and trust.
Admitting one’s vulnerability and seeking the opinions of others does not mean shirking responsibility. This approach actually demonstrates one’s vulnerability, openness to different viewpoints, and trust in others. You can trust certain people who understand your situation and, if they are willing, can share the conversation with others. Their insights might help you make better decisions. Seeking advice allows you to understand their views on issues they are very familiar with and also shows them that you value their thoughts. When it comes to decision-making, knowing their mindset might also encourage them to be more involved and proactive.
You could phrase it like this: “I am currently facing a major business decision involving many complex factors. I want to make sure that the approach I am taking is the right one. If possible, I would like to share my thoughts with you, as I am keen to know what you think I may have missed and where my arguments might fall short.” A fellow leader once tried this approach and, initially, their colleague was surprised and unsure how to react. However, looking back, they felt that this method established a new connection between them and helped overcome several challenges in the following months.
Engaging in a constructive dialogue about a shared vision is also an effective strategy. This is often more effective than discussing individual goals, especially where there is a lack of sufficient trust. You can ignite the discussion by asking: “Let’s talk about what we can achieve in the future and what results we can deliver. I am curious about which possibilities excite you. In an ideal scenario, what kind of organization can we be? What challenges do we need to overcome? How do you envision and describe success?” Summarize these discussion points into a one-page summary that reflects your shared objectives and insights on relevant issues. Even if your fellow leaders are reluctant to share their views, or differ in their perspectives, you should persistently carry out this activity. The risk is that by merely concealing one’s thoughts, it could lead to an adversarial situation that hampers the team’s proper progress.
Sharing these summaries with team members and other influential informal leaders within the organization can earn their wisdom and insights, and also show your efforts to build consensus. Even in the most ambitious organizations, people always look for differences among shared leaders. Therefore, clarifying responsibilities in the grey areas becomes crucial.
Upon clear principles, responsibilities can be allocated and deadlines discussed. Consider:
- Topic: Ways to enhance customer loyalty.
- Function: Sales, product, technology, culture, operations.
- Context: Who is responsible for presiding over different meetings.
- Decision: Which decisions should be made together (e.g., overall strategy, significant investments) and which should be made independently (e.g., business terms, employee promotions).
Discuss who is responsible for what across different scenarios – whether it be business decisions, personnel issues, or significant board meetings. Locate areas where responsibilities overlap or where you have common (even if competitive) interests. While you cannot predict every situation, by identifying and addressing grey areas and potential tensions, you can lessen the likelihood of unexpected issues in the future. When such situations occur, carefully consider how you and your co-leaders should clearly push things forward and ensure that these contents are shared with other members of the leadership team.
Establishing a process for resolving problems or disagreements is crucial, especially in environments where decisions need to be made together, regardless of shared responsibilities. Proactively discuss ways of handling disagreements, ensuring these discussions follow principles of showing interest and respect for each other, prioritizing the organization’s interests, and, where possible, trying to avoid discord in front of others.
Effective communication processes can be broken down into the following steps:
- Listening: Patiently listen to what the other party is saying, avoiding interruptions even when eager to share your own ideas.
- Asking for confirmation: Ensure that you have fully understood the other’s perspective, such as by asking: “Could you explain in more detail? I want to clearly understand your stance.”
- Pointing out agreements: Express your agreement with the parts of the other’s views that you understand, for example, “I see your point.”
- Describing disagreements: Express where and why you disagree, such as: “I wonder if there is another angle to consider this issue from.”
- Proposing solutions: If possible, suggest an alternative as a bridge for communication, like: “How about we try another approach?”
Avoid overly complex or cumbersome processes, as they can be off-putting and potentially counterproductive. While following this process, if you still feel confused, take time to reflect, even when under tight deadlines. Create space to think, organize information, adjust emotions, and consider new possibilities.
However, not every attempt will be successful. A co-responsible partner I once collaborated with realized this, and told me that sometimes she chooses to step back temporarily when faced with a deadlock, believing that there are more valuable things worth focusing on, rather than insisting stubbornly.
Establish Connections with Trusted Individuals Look for a trustworthy mentor to guide you on how to cultivate relationships and handle dilemmas. Ideally, they should not be in your reporting chain and have no direct stake in your work. This allows them to provide more objective advice. These wise guides may come from lower ranks yet offer valuable insights based on your performance, results, and others’ evaluations of you.
As they become confidantes over time, more people will communicate feedback and suggestions to them. You can consult them with various questions, such as:
Is the work I’m doing for the organization correct?
Am I remaining true to my values and strengths?
How are my relationships with co-leaders perceived within and outside the organization?
What practices should my co-leaders and I stop or change?
Actively Support Co-Leaders Play the role of a supporter when they make significant decisions. Even if your opinions do not completely align at times, it’s still necessary to evaluate whether their choices contribute to the shared goals.
Speak up boldly in joint meetings, share your viewpoints, and support the other’s position when appropriate. This not only enhances trust but also demonstrates the team’s cohesion to the team. Your support is especially significant when your partner is under pressure, and they will be very grateful for it.
No matter the circumstance, you should always convey your support with sincerity and concrete actions.
It is well known that false positivity on the surface is easy to detect, especially since body language can betray your true emotions. Dishonest behavior not only weakens your personal influence but also damages your reputation.
When we part ways with co-leaders, be particularly careful to avoid speaking ill of them behind their backs. Such conduct can not only ruin your own reputation but also lead to the co-leader finding out they have been misunderstood or slandered.
Undoubtedly, being a co-leader is a highly challenging position. It requires leaders to cooperate and share responsibilities, even though they may be more accustomed to bearing responsibilities independently. But do not worry, by adhering to a principled work attitude and honing your skills, you can still succeed in working with others and taking on this role.
