208: The CEO Mindset | Tom Monahan

Tom Monahan took on the role of CEO of Heidrick & Struggles in 2024. He came to Heidrick & Struggles with a decades-long career of building and leading innovative technology, data, and services companies and as a long-time Heidrick & Struggles client.

Most recently, Tom was president and CEO of DeVry University, where he led the university to digital innovation, sustained growth, outstanding student success metrics, and financial strength as a newly independent institution.

Tom is passionate about people and the role that leadership has to create a world better led. Tom explains to me that the right people, in the right role leading in the right way is the single most important driver for high performing organisations. Tom's decision to take up the CEO role of Heidrick & Struggles was based on the ability of H&S to really make a difference for organisations in finding the right leaders and to co-create great performance on an individual and collective basis. Tom describes leaders are Magpies, building their nests out of anything they can find within themselves and in their surroundings based on insatiable curiosity and a beginners mindset.

I ask Tom about his parents and family background as I search for clues into his focus and success. His answer will surprise you.

Tom tells me that in his role as CEO he is the steward of the business and the people are the only thing that won't be worth less from the day they begin working in the organisation. Each and every day a person grows, learns and experiences in a way that builds the sum of the parts. It is the human capital that is the most precious resource of any business.

One of Tom's primary strengths is his ability to frame a problem or issue in order to create focus as opposed to always having an answer. 'Fast Starts matter' Tom explains, so getting quick insight is paramount for any leader and organisation in gathering the collective intelligence to focus on the issue or problem and resolve it.

Leading experts has always been a leadership challenge and Tom tells me that he is expert in the way we used to do things and not how we should do things so he has to get out of the way of his people and allow them to operate in a way that they know is best.

As CEO Tom is focused on creating an environment where the best people come to do their best work. Tom also understands that any new CEO must be 'courageously humble' as he tries to understand the business that he is taking over, the people that he leads and the culture that he initially inherits. The most dangerous thing a CEO can do, is be a focus group of one.

Tom is an introvert by nature so the very social and public facing element of the role is a constant challenge for him and he fondly remembers the advice from an inebriated aunt that if something is worth doing, it is worth overdoing.

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