Start by patting the chicken thighs dry with a paper towel. This helps the skin crisp up during cooking. In a small bowl, mix the garlic powder, onion powder, paprika, salt, and pepper. Rub this seasoning mix all over the chicken, making sure to coat both sides thoroughly. Seasoning evenly helps build bold flavor right from the start.
Heat olive oil in a cast iron skillet over medium heat. Once hot, place the chicken thighs in the pan, skin side down. Let them cook undisturbed for 7 to 8 minutes, allowing the skin to become golden and crispy. Flip the chicken and cook for another 15 to 25 minutes, depending on the thickness, until the internal temperature reaches 165°F. Transfer the cooked chicken to a plate and set aside.
In the same skillet, melt the butter and add the minced shallot and garlic. Sauté for 1 minute until fragrant. Pour in the chicken broth, lemon juice, thyme, and red pepper flakes. Lower the heat and stir in the heavy cream. Let the sauce simmer gently for about 5 minutes, stirring occasionally until it slightly thickens.
Return the cooked chicken thighs to the skillet and spoon the sauce over them. Let them warm through in the sauce for a minute or two. Sprinkle with freshly chopped parsley for garnish. Serve hot with your favorite side like mashed potatoes, roasted veggies, or rice to soak up the flavorful sauce.