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PRESENTED BY GET SMARTER

Transform your career with these six lessons from top CEOs

As the third decade of the 21st century progresses, it requires a special range of skills and traits to steer a multinational company to success.

Published: 1 December 2021 10:14 CET
Updated: 15 December 2021 16:41 CET
Transform your career with these six lessons from top CEOs
Photo: Getty Images

Changing technologies, new consumer bases and geopolitical shifts mean that it’s imperative that those at the helm of multi-million dollar corporations understand how to lead effectively, and with high impact.

What does it mean to lead with high impact, however? Together with online learning provider GetSmarter and the University of Cambridge Institute for Sustainability Leadership, we examine the success stories of six leading CEOs. We identify the specific lessons you can learn from each of them – skills and lessons that are also covered in the Leading Sustainability: High Impact Leadership and Business Sustainability Management online courses. 

Lisa Su, AMD. Leadership lesson: run towards problems

When Taiwan-born Lisa Su took the helm at computer chip manufacturer AMD in 2014, the company was in trouble. Lagging far behind their main competitor, Intel, the semiconductor maker was haemorrhaging money and shareholders were angry.

It was Su’s mantra of ‘run towards problems’, and her clear vision of where she wanted the company to be in the coming years that would bring the company back from the brink, and make it one that provides the chips powering not only our computers, but also Smart TVs and gaming consoles. Su’s rapid and revolutionary turnaround of the company’s fortunes demonstrates not only the role of leadership in creating organisational change, but also in business growth.

Discover the qualities propelling today’s changemakers to success, with the Leading Sustainability: High Impact Leadership online short course from the University of Cambridge and GetSmarter

Marvin Ellison, Lowe’s. Leadership lesson: learn to unify people

From early childhood, Marvin Ellison, the African-American former CEO of J.C. Penney’s and current CEO of Lowe’s, took on responsibility for his large family while his parents worked multiple jobs to put food on the table. As he grew older, starting in Loss Prevention at Target and climbing the corporate ladder via such household names as Home Depot, he learned to use his unique standing within the predominantly white corporate world to bring considerably different groups together, in the service of business growth and the consolidation of gains.

Combining confidence, faith and trust in those around him, Ellison has inspired Lowe’s to new heights, almost doubling their share price in two years. Ellison’s career path, and his success are classic examples of how convictions can give leaders a deep sense of meaning, and how the concepts of fairness, honesty and inclusion positively impact business decisions.

Rosalind Brewer, Walgreens. Leadership lesson: efficiency equals sustainability

Former CEO of Sam’s Club, COO of Starbucks, and current Walgreens CEO, Rosalind Brewer has made innovation her watchword throughout her entire career. She is one of only two black female CEOs of companies in the Fortune 500. Brewer was instrumental in bringing in healthier options and organic foods to Walmart and Sam’s Club, leading the way for other American retailers. She also pioneered ordering ahead for groceries and coffee, at Sam’s Club and Starbucks respectively. Not only has this led to growth, but the resulting efficiency gains have meant changes to supply chains and the amount of food wasted, making both companies significantly more sustainable.

Brewer’s success is indicative of the gains that can be made when leaders challenge current practice, and carefully consider processes with an eye towards efficiency and sustainability. Such decision-making can massively reduce waste and inefficiencies, giving a company a valuable and well-deserved reputation for sustainability.

Develop the skills that the CEOs of some of the world’s most recognisable brands use to lead their company towards sustainability, with the Business Sustainability Management online short course from GetSmarter and the University of Cambridge

Photo: Getty Images

Dan Price, Gravity Payments. Leadership lesson: Rewrite the rules

Dan Price, CEO of payment processor Gravity Payments, stunned the world when he announced in 2015 that all employees of the company would receive a yearly salary of $70,000, disrupting the typically pyramidal structure of corporate salaries. Not only that, but he announced that he would be taking the same salary, something completely unheard of. Not only did this result in a considerable amount of positive media coverage, but a book deal for Price, allowing him another platform to outline his vision and ideas, not only for the company, but for society as a whole. He has become a lightning rod for discussions around wage disparity, and some have claimed him as a kind of ‘working man’s hero’. Increasingly, small start-ups are attempting similar moves, and changing the conversation around corporate power structures. 

Price’s actions in providing an equal salary clearly show the value of storytelling in leadership, creating a personal narrative that has had significant impact in his sphere of influence.

Whitney Wolfe Herd, Bumble. Leadership lesson: Turn loss into opportunity 

Despite making Tinder the world’s premier dating app, as Vice President of Marketing, Whitney Wolfe Herd was subject to online abuse and threats after she spoke out, regarding tensions with fellow executives at the height of the #MeToo movement. Following a lawsuit and a barrage of press, Herd refused to let this be the end of her leadership career and came up with Bumble, the dating app where women message first – a revolutionary idea at its inception. The app soon took off and became the world’s second most popular dating app, behind Tinder.

Herd’s resilience, and her talent for introducing innovative ideas and practices that create opportunities for business growth are the hallmarks of her career so far – who knows what trajectory her career will take from here.

Robert Bosch, Bosch. Leadership lesson: Remember you’re a part of the greater whole

Today Bosch is one of the world’s leading manufacturers, not only of household appliances, but of automotive components and engineering equipment. However, across Germany and in many areas of the developing world, the name is also synonymous with acts of charity and altruism. This is because, right from the very early days of the company, founder Robert Bosch ensured that company profits would be reinvested into hospitals, development programmes and progressive causes in his native Stuttgart and beyond.

Bosch is still known for his conscientious response to Germany’s turbulent twentieth century. Not only did he refuse armament contracts during the First World War, but he and his closest associates played a key role in resistance to Hitler, saving countless Jewish lives in the process.

Bosch’s story is a classic case study of the ways in which commercial success can be aligned with societal and environmental causes.

Learn more about the Leading Sustainability: High Impact Leadership online short course from GetSmarter and the University of Cambridge, and discover how to lead people and organisations to new heights of innovation and growth

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NORWAY EXPLAINED

What are the rules for taking annual leave in Norway?

If you've just started working in Norway or if you've been employed in the country for a while but need clarification on its annual leave rules, this is what you need to know.

Published: 15 May 2024 12:41 CEST
What are the rules for taking annual leave in Norway?

While annual leave isn’t among the top reasons people usually decide to move to Norway and work there, it is an important component of Norwegian work and social culture.

Compared to some other European countries, Norway has quite a generous annual leave policy, which ensures that workers have enough time to rest and recover from the stress of their jobs.

READ MORE: How to maximise Norway’s public holidays in 2024 – five essential tricks

The basic annual leave quota – and holiday pay

As an employee in Norway, you have both a right and a duty to take your annual holiday, and every employee in the country is entitled to at least 25 working days of annual leave each year.

This quota includes Saturdays as working days, which equates to approximately four weeks and one day of holiday per calendar year (Sundays and public holidays are not counted as working days).

When it comes to holiday pay, workers need to accumulate their holiday pay rights in their first year of employment.

Thus, as the amount of holiday pay you get is a collective monthly percentage of what you have made in the past year, you will not have earned holiday pay if you were not employed the previous year. 

However, you are still entitled to take leave days.

If you want to learn more about how holiday pay works in Norway, check out The Local’s explainer on the issue.

Collective agreements and additional holidays

While the minimum quota of 25 days of holidays is in place, employees can get even more holiday days than this legally required minimum.

Many workers in Norway are entitled to a five-week holiday through a collective agreement or separate agreements with their employer. This extra time off is often accompanied by an increased holiday pay rate.

Furthermore, if you’re nearing retirement, you’re in luck, as all employees aged 60 or over are entitled to an extra week of holidays.

Airport

You should discuss your holiday schedule with your employer well in advance – be sure to do so before booking a vacation outside of Norway. Photo by Hanna Kretsu on Unsplash

How to schedule and take leave in Norway

Per Norwegian laws, employers must ensure all employees take full annual leave.

It’s a good idea to have a chat with your boss about your holiday plans well in advance.

If you can’t agree on dates, your boss gets the final say on when you can take time off.

But don’t worry, in Norway, you’re guaranteed at least three weeks of continuous vacation time between June 1st and September 30th.

If you prefer, the rest of your holiday days can also be lumped together without any breaks.

Note that your boss can ask you to give them a heads-up about your vacation plans at least two months beforehand.

The relevant sections of the Norwegian Holiday Act, available here and here, provide more details on holiday scheduling and duration.

What you need to know about fellesferie 

The term fellesferie is used for the collective vacation period or general staff holiday period that many Norwegian companies stick to, typically occurring in July.

The concept of fellesferie is a tradition – companies aren’t legally obligated to adhere to it – but, in practice, you’ll find that may do. The Local has an entire article on how this tradition started and what makes it special.

How do holidays work if you’re ill – or on parental leave?

Of course, special situations and life events may also occur during or before your holidays.

If you fall ill before or during your leave, you may have a right to a new holiday – or to postpone your holiday.

Should you become sick before your holiday, you can ask your employer to postpone it until later in the holiday year.

You’ll need to get a medical certificate to prove that you’re ill and submit an official request for postponement by no later than the day before the holiday starts.

The right to defer or be granted a new holiday only applies to the statutory holiday period.

As an employee, you have the right, but not an obligation, to take statutory holidays during the period of leave when you receive parental benefit.

If you choose to defer it, the leave will be deferred by a period corresponding to your holiday.

Can I carry leave days forward – or take my leave in advance?

If you reach an agreement with your employer, you can also carry forward up to two weeks of the statutory holiday to the following year.

Similarly, you can also take up to two weeks of your holiday in advance.

However, make sure to check your employment contract (and collective agreement, if you fall under one), as the rules concerning the carrying forward of holiday and advance holiday may be set differently based on these contracts.

READ MORE: What is a Norwegian collective bargaining agreement?

If you have an agreement that allows you to have extra holiday days on top of the statutory holiday quota, you can also agree with your employer that these additional holidays can be carried forward to the following year.

If you’re changing jobs, know that if you do not take your holidays during the current year before your employment ceases and move to a new employer before September 30th of the same year, you will be entitled to take your remaining holiday with your new employer.

For more information on the specifics of the holiday rules in Norway, consult the Norwegian Holiday Act (available in English).

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