Leader does not equal Senior Executive. Most Senior Executives aren't really Leaders. The best Leaders I have seen have 5 things they demonstrate consistently.
1. They are optimistic and see the opportunities ahead. They may deeply understand and empathize with any current struggles individually and collectively, but they deeply believe they see the way forward to a better future and convince people to dedicate themselves to that vision.
2. They are human and demonstrate the great strengths and weaknesses that all of us have. They are not perfect human beings, and they know that. They have weaknesses and don't let that keep them from doing great things and energizing others. Ultimately, followers understand their flaws but follow because the good far outweighs the bad. Leaders also accept the flaws of others, as long as they stay within acceptable lines, especially as it relates to working with others. They are willing to work around the weaknesses of others to take advantage of their great strengths.
3. They are incredibly human. THEY CARE ABOUT PEOPLE, not just accomplishing goals or personal advancement. They are willing to take extraordinary lengths to do what is right for people even if it means a hit on quarterly earnings or if it goes beyond fiscal reason. They recognize key moments in the lives of employees when they are vulnerable and they provide support beyond reason.
4. They are fiscally responsible and attend carefully to the key business drivers. No great Leader cares about people at the total expense of the business. If they did, there would be no business, so they understand they need to keep the business healthy and growing to provide the freedom to take care of people the way they want to. They are willing to eliminate jobs, reorganize, make tough people related decisions, but they do so with extraordinary compassion.
5. They don't tolerate jerks (especially in management roles) and never demonstrate that behavior themselves. They treat all people well all the time and won't accept anything less from every employee in the company, no matter their expertise or value to the organization. Many Executives don't do this. They behave badly and visibly signal to others it is ok for them to do so as well, as long as the results are there. Employees only follow these Executives (note I did not say Leaders) out of fear of losing their jobs. Compliance at best.
I only listed 5 elements, but there is a sixth, integrity. Leaders MUST do what they say and say what they do, all the time. I have seen Executives try to "act the part" but not stay true to their word or promises. That is deadly and no Executive will be trusted if his walk doesn't match the talk.
Over recent years during the recession too many poor Leaders have survived or even thrived because they produced bottom line results in the short term, during a very bad time. In some ways it is understandable. The truth is though, that in an age where innovation and employee engagement will be the only competitive advantages, this behavior will undermine any chance a company has to compete long term.
Evaluate your Executives on the 6 factors I mentioned, and you are positioned for tremendous sustainable financial success.