I’m often asked questions about how I worked my way to a C-suite position, and I’ve found those questions to be an excellent opportunity to reflect on my journey on getting to this place in my career.
When people ask me about my C-Suite position, it’s typically one of the following questions:
- What specific rungs of the ladder did you take to get there?
- What hurdles did you have
- Would you do it again?
I wanted to take some time and reflect on these questions as both an exercise for myself and a way to share what I’ve learned with others who may find it helpful as they navigate their careers.
My Path to the C-Suite
Here’s a quick summary of my career thus far. I graduated from Ball State with a Bachelor of Science with a major in Accounting. I started as an Audit Manager for a banking organization. Later in life (much later), I obtained a Masters in Organizational Leadership from Indiana Tech. In terms of positions, I had a series of progressive responsibilities in my field of expertise as well as expanding beyond the traditional roles. In addition to my role as Audit Manager I also became Tax Manager. That led to Controller and later I added the responsibility of overseeing the Trust & Investment department. After 15 years the bank had grown and needed a CFO and I was named their first CFO. All of that experience, plus being a life-long learner, led me to where I am today as the President and CEO of the Farmers Bank where I have the privilege of helping small businesses and entrepreneurs grow their businesses.
Skills I found critical.
Problem-solving was vital in my role (all financial positions) and still is relevant today. The problems to be solved could be people, process or product. It is important to engage others in solving issues to ensure you get a 360 degree view. In today’s world it is much easier to access information which can help provide perspective on an issue.
Communication has always been an important skill set to have, but in my opinion, it is even more vital today. In a crowded world of data and information, we must communicate clearly and succinctly while also sharing the why behind the information. Sharing the “Why” helps our staff connect to our purpose and align with our strategy. Aligning our team to our mission has been a significant key to our success.
Relationship building is vitally important as to be an effective leader you don’t want to live in a silo. Understanding the goals and challenges of other departments/areas of the organization gives you a broader view and will enhance the quality of your decisions.
Advice for hurdles and difficulties
When you’re experiencing discouragement as you work towards a C-Suite position, the advice I could give you is to examine why you want a C-Suite position. Do you want the title or the job? Is it just for the money and the power? Even though having the "CEO" title makes it sound like you're in charge, you're really in charge of creating an environment where people are at their best. I consider myself Chief Encouragement Officer not just Chief Executive Officer. As CEO, I have to make sure we're all on the same page, our opinions are aligned, and we're moving in the same direction. It can be tricky trying to get everyone to agree, and sometimes we have to give up our egos and personal beliefs to yield to what's best for all of us and the company.
Keep on learning and growing even if you remain in the same position. Growth horizontally is still growth. Broaden your knowledge to understand beyond what happens at your desk. What you learn will make you more desirable and more qualified for other positions. Also, sometimes a lateral move will give you a new skill that you didn’t know you needed, and that same skill may get you better prepared for the next step. If you’re in a company that does not want you to help you grow or provide these opportunities it might be time to change course.
Finally, seek out mentors. Most successful people want to help others succeed. Ask someone you admire if they would take some time to help give perspective and share what they have learned. Many leaders are happy to help and enjoy assisting others in finding success!
Would I do it all again?
Absolutely, but there were things I would change about how I made it to where I am. For example, I wouldn’t have given so much of my “off the clock” hours to my career. Early in my career, my supervisor told me I should work on Saturdays as the company leaders sometimes made decisions after hours. I believe arriving to work early and staying late are good ways to demonstrate commitment to your company and responsibilities. However, I ended up working a lot of Saturdays at that job, but I can’t think of a single decision that I was involved in that happened on a Saturday. Looking back, I would’ve told myself that what you accomplish and how you accomplish it is more important than the hours you put in. I think we are in a much better place today balancing the well-being of companies and employees.
I also thought being technically competent was the most important characteristic I could focus on to get me to the C-Suite. It turns out that while it’s essential to demonstrate your industry knowledge, the ability to collaborate with others and form relationships is a much more critical skill set to hone in order to your way to the C-suite and to enjoy success in that role.
I hope that these reflections gave you some insight into how you could be preparing yourself for a future role in the C-Suite. Remember, at the end of the day, it’s not about arriving at the destination, but the things you learn along the way. Keep track of the things you’re learning so you can share them with someone else someday! If there’s anything I can do to help you, or if you’d like to learn more about The Farmers Bank, please reach out to me.
# # #
Karen Gregerson is President & CEO of The Farmers Bank, a locally owned and operating bank with 10 banking offices in Central Indiana.
The Farmers Bank is a $700 million asset organization chartered in 1876 with headquarters in Frankfort, IN. The Farmers Bank is locally owned and operated with 10 banking offices located in Central Indiana providing retail, business, investment & trust services, mortgage, and electronic banking services. Member FDIC, Equal Housing Lender