Link Sharing: McKinsey & Company's CEO Guide on Stakeholder Impact

McKinsey & Company recently published a guide for new CEOs on Stakeholder Impact. This report draws on insights from the book A CEO for All Seasons, targeted interviews with CEOs and CCOs, interviews with corporate leaders, and McKinsey analysis of Fortune 100 CEOs on communications readiness.

Below are 5 quick takeaways from the guide:

Stakeholder engagement is critical early: New CEOs face intense demands to engage a broader and more varied set of stakeholders (investors, regulators, employees, media, communities) than they’ve likely experienced before; getting this right early can significantly impact success. McKinsey & Company

Use the EDGE framework: The authors recommend a structured approach—Expanded, Distinctive, Growth-oriented, Engaged (EDGE)—to guide communications and relationship building with stakeholders. McKinsey & Company

Expanded perspective: CEOs should move from a “private leader” mindset to being public-facing connectors who proactively listen, recalibrate existing ties, and forge new stakeholder relationships to align around strategy. McKinsey & Company

Distinctive narrative: Craft a personal and compelling narrative (answering the four W’s: who, why, what, when) to clearly communicate vision and build trust; storytelling is a key leadership tool. McKinsey & Company

Empower teams & sustain engagement: Encourage top-team and ambassador involvement to spread the message efficiently, and manage energy (not just time) to maintain a consistent and sustainable stakeholder engagement rhythm.