Executive peer networks: Why you need (an effective) one
The Economist's Executive Education Navigator article, “Executive peer networks: Why you need (an effective) one," quoted Russell Reynolds Associates Consultant
Tina Shah Paikeday as she shares her expertise on why peer networks are important and what makes them successful. The article is excerpted below.
The need for executive peer networks
Executives need a peer network for a variety of reasons. As businesses continue to be disrupted by competition, they need to make the shift from stand-alone to collaborative organisations.
“The need to keep up with the pace of transformation, as well as the blurring of lines between businesses, has led to the realisation that there is value in learning from and sharing experiences with peers,” according to Tina Shah Paikeday, who specialises in consulting and executive search related to human capital at Russell Reynolds Associates.
“An effective executive peer network enables facilitation of dialogue on topics of mutual interest to executives in a certain field, industry or geography.” Paikeday says peer networks are an ideal place to share best practices, and through shared learning, generate insights on business and leadership issues.
“They also create a safe environment for peers to debate controversial topics that have a significant impact on their businesses,” she explains.
5 qualities of successful executive peer networks
Paikeday says the executive peer networks that add the most value share five traits:
Focused cohort: They bring peers to the table on the basis of strong common ground. “This could be a functional area like diversity and inclusion, an industry like technology, a level like CEO, or even a geography,” she says. “They also keep the standards tight in terms of level, so participants feel like they are truly among peers.
Opportunity for cross-pollination: Common themes are valuable, but Paikeday says the cross-pollination of ideas could result in greater innovation. “Given the blurring lines between competitors and collaborators, such networks are increasingly relevant.”
To read the full article, click