September 16, 2024
John RandallJohn Randall is President and CEO of Hitachi Global Air Power.
Twenty-three. That’s the number of meetings I attended last week, including four weeknight calls and a 2:00 a.m. board meeting. After my week of back-to-back meetings, I jumped on a plane from Chicago to Tokyo for two weeks of international travel. My schedule as President and CEO of an industrial manufacturing company is beyond full, and my workdays, more often than not, turn into work-evenings, but despite the never-ending schedule, I can honestly say I wouldn’t have it any other way.
Running a global business, to me, is inherently exciting. It’s also challenging, frustrating, exhilarating and engrossing – sometimes all in the same day. I get to lead my team into uncharted territory and devise solutions to complex problems, and (I think) there’s a whole lot of fun in all of that.
Some of those complex problems do keep me up at night and in the interest of sharing a glimpse into the hectic life of a CEO at a global company, the following are some of the biggest challenges (and a few opportunities) on my plate right now.
Since we operate in several countries globally, I have to closely monitor political changes occurring in each of those nations. In the U.S., for example, we have an election coming up; I have to anticipate any policy shifts that come with changes in Congress and the presidency. Tariffs and trade friendliness and their impact on our supply chain all have to be considered when executing on our strategy. Since we can’t control the changes coming, we have to develop contingency plans and work arounds including onshoring or offshoring portions of our operations.
One thing that’s certain in a global company is that surprises can lurk around any corner, and we need to plan for unpredicted events that can impact our business. That was never more evident than during the COVID-19 pandemic. From a manufacturing perspective, we have done a lot to mitigate supply chain interruptions by vertically integrating our operations where possible. The pandemic taught us a lot about streamlining our supply channels to be more in control of our destiny. This increased self-reliance definitely helps me sleep (a little) better at night, but there are always evolving scenarios to consider.
In the United States skilled labor is in high demand. Finding qualified employees is a never-ending struggle. In a global organization, you can quadruple that problem. While each region has its own set of challenges, in aggregate, labor is an issue - and a big one.
According to a recent study by Indeed, some of the economic trends impacting the 2024 labor market in the U.S. include ongoing labor demand, an influx of younger workers, and the growth of AI fueling productivity. That’s a lot to navigate. Your workforce may be disproportionately younger and less experienced, but be more productive thanks to the proliferation of AI. Making sense of this and figuring it all into the company’s overall strategy can be tricky. We have big ideas and big plans; do we have the right people in place to execute those plans effectively?
One of the great benefits of a global company is access to unique and diverse ideas. Since our customers are global, we cannot afford to have a myopic view of our company and industry. Accessing input from our regional colleagues is vital, but finding ways to foster collaboration across many cultures and languages is a sizeable obstacle. At my organization, we have done a lot of work in the DEI space to ensure everyone’s voice is not only heard but understood. We implemented a Simple English program to encourage teammates to speak using clear and simplified language. We support a culture where questions for comprehension are not only expected but encouraged. We also run a robust expat program, where colleagues travel to and live in other regions for extended periods of time to absorb different cultures, build relationships, and share knowledge. We never know where our next big idea will come from, so making sure our colleagues work collaboratively is critical to our success– so it’s critically important to me.
I mentioned at the start of this blog that demands on my time and energy are constant and the challenge of maintaining a packed schedule can sometimes feel overwhelming. I’ve learned that pushing too hard without a break leads to burnout. The same goes for my teams. Our business is in the throes of a transformative modernization effort, and many employees are taking on additional responsibilities until we can staff up to meet our growth needs. To help our employees better manage their workload, we implemented a few rules around meetings. We keep them to under an hour so folks with back-to-back meetings have time for comfort or beverage breaks. We require employees to send any pre-read materials well in advance, so our teams are prepared and the meetings are more productive. And we keep Fridays free of non-business critical meetings so people can catch up on the week’s work.
I probably should have mentioned earlier, I’ve only been a CEO for just over three years. While I held other leadership positions in the past, this is my first at the helm of an entire organization. It was the opportunity of a lifetime for me and I have truly enjoyed every minute.
I recently read a study by the Harvard Business Review, “Inside the First Year as CEO,” that found 89 percent of new CEOs were positively surprised by employee ‘quality and dedication.’ I can’t say I was surprised by the dedication of our employees, but I definitely better appreciate the commitment, talent and pure passion my colleagues bring to their jobs. No one manages a global business alone. When you have a great team behind you, supporting, advising, challenging, inspiring and leading alongside you, the challenges you face don’t feel insurmountable. I get to do the best job in the world, but more importantly, I get to do it with the best teammates – and that makes all the late nights, countless meetings and difficult decision-making totally worth it.
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