DESTINED TO BREAK - 40% of new leaders fail within the first 18 months
Updated: Mar 25
Four out of ten newly promoted managers and executives fail within 18 months of starting new jobs, according to research by a leadership development firm in Pennsylvania. When first recruited, the following types of executives experienced the highest failure rates within the first 18 months: senior-level executives (39%), sales executives (30%), marketing executives (25%), and operations executives (23%).
The major reasons for failure in the new job are:
75% fail to establish a cultural fit
52% fail to build teamwork with staff and peers
33% are unclear about what their bosses expect
25% don’t have the required internal political savvy
22% there’s no process to assimilate new leaders into the role
It is expensive. The cost of failure for an executive can be catastrophic, relegating them to "surival jobs" after a failure. The cost of failure for an organization has been calculated at somewhere between two and twenty times total compensiation and includes direct and indirect costs – not including the far larger opportunity costs.
We are not making the progress we need to make when it comes to leadership onboarding
People are still tripping over the same landmines: organization, role, personal, learning, relationships, delivery and adjustment. And the failure rates are the same. (Fortune's Anne Fisher notes "research shows has stood at about 40% for at least 15 years now" in her article "New Job? Get a Head Start Now.")
…but we can make progress if we want to.
The basics of how to improve are known. Its a process, its a process.
McKinsey research, published in the new book Leading Organizations: Ten Timeless Truths determined that an executive transition should center on taking stock and action in a handful of areas without a firm timeline. When they’re complete, your transition is complete. The five areas are:
Yourself: Do you understand yourself & what drives you. Have you considered your Legacy?
Team: Do you have the right team members? How are you leading them to perform? Do you have the right tools at your disposal?
Culture: Do you have a culture of ownership & innovation? Is your team capable of delivering to your expectations?
Other Stakeholders: Have you a sense of expectations from your stakeholders? Do you have a relationship of trust that leads to 'Relationship Effectiveness Quotient - REQ'
Business/function: Do you have a clear grasp of current performance and capability, and have you aligned and mobilized employees on your aspiration and priorities?
Do you have a structured onboarding intervention to help your leaders succeed? Connect with our Learning Advisory Practice
LEADERS AREN'T BORN; THEY ARE MADE.
And they are made just like anything else, through hardwork & discipline. And thats the price we have to pay to achieve that goal. ~ Vince Lombardi
L E A P
Leadership Excellence through Awareness & Practice
A BESPOKE LEADERSHIP MASTERY JOURNEY
The genesis of LEAP construct is two folds:
1 In our belief that a single or a series of disjointed interventions (however well meaning & designed), do not lead the participants to make a significant change in their behaviours. And therefore a series of interconnected experiences are critical to help new leaders succeed.
2 Leadership is like any other, a skill that needs to be purposefully practiced in order to get better at it. Which means that we have to strive to gain a conscious 360 mind-share of the participant during this developmental journey.
The design incorporates the following salient features
Periodic Self Assessments
Multi-Sensory - Modular Learning Approach
Journey as a Story of Self - Team - Grow - Trust - Relationships - Influence - Business – Culture (SELF - TEAM - STAKEHOLDERS – BUSINESS- ANTIFRAGILE)
Facilitated Experience- Immersion and Reflection
Leveraging #ExperienceLearning using REEL|Life, Computer Simulations and other interactive tools/methodologies.
A very strong Emphasis on Action Learning, e-Connects & Speed Coaching
24x7 Connect engagements with Periodic Thought Ticklers & Socialisation
We have conducted multiple LEAP journeys across diverse organisation in the last 3 years.
ProventusHR's LEAP - Leadership Mastery Journey recognised and awarded as ‘Best Leadership Development Program’ at BWPeople Learning & Development Excellence Awards. (BW BusinessWorld Magazine).
(Link to BWPeople.in write-up)