Executive level employees all leave their companies at some point, regardless of whether it’s due to retirement, resignation or poor health. Turnover among global CEOs has been reaching record levels, and each year about 10% to 15% of corporations must appoint a new CEO. If you are among the companies not happy with the impact of your succession planning process, you are not alone. Here are 7 practical ideas to help you get more out of your organization's succession planning efforts.
Leadership development has always been an important aspect in determining the success of any organization. Without properly trained leaders, companies fall victim to mismanagement, dissatisfied employees and ultimately lack in overall company growth.
In a recent study, 83% of organizations said it’s important to develop leadership at all levels, but only 5% have implemented development programs. Of the 5% of developing leaders, many of them find themselves falling short of expectations.
Leadership development programs are often overlooked, leaving company leaders floundering for a way to rise in their departments.
Your organization’s greatest asset is its employees, who make up the mindshare and knowledge base to serve your paying customers. But how do you measure that asset? Employee engagement surveys and Glassdoor reviews are a good start, are they really clear indicators on how your greatest asset is being leveraged? To make the most out of the investment in your people, you need an objective line of site on their performance. Effective goal setting at every level of an organization is one of the most important motivators and means of evaluating your people’s contribution to the mission and purpose of the organization.
Corporate goals are different than individual or team goals, but they are a critical resource to close the gap between large organizational strategies and effective execution of those strategies. But corporate goals are more than just generating revenue or cost savings. Corporate goals should address common objectives of customer satisfaction, stockholder value, increasing the overall value of the organization, and other objective details that demonstrate real business results. Defining larger corporate goals correctly creates the framework in which your business can get to the next level within the market you live in.
Different types of goals help your company achieve different levels of success. Goal setting isn’t a one-size-fits-all approach. Goals depend on the context of the business initiative you’re trying to achieve. While all goals should have time elements, some will take longer than others to pursue. Great organizations encourage leaders at all levels of an organization to set long-term, agile, and performance-focused goals to improve efficiency, engagement, and bottom line business results.
Our favorite fictional leaders from Hollywood films, while silly on screen, are funny to us because their management styles are true and familiar. Maybe you think you’re leading like a Dumbledore, but your inner avatar screams Elle Woods. Take our short quiz, add up your score at the end, and unleash your true Hollywood identity. Stay tuned until the end to uncover some of our expert tips on leadership and strategy at the end!
Some leaders like to claim there is a bit of a natural ability when it comes to solving problems as a leader. Sure, leaders have an instinctual reaction when it comes down to making big time decisions, but this instinct isn’t a natural “born with it” reaction. This snap-like reaction leaders have is a set of learned behaviors built over several years of failure and practice, watching themselves and others make mistakes or basic trial and error. Leaders have the ability to jump on decisions effortlessly and confidently, while the rest of us get itchy crawling skin just thinking about being the decision maker for big organizational matters.
Look around you. There’s most likely a leader somewhere in the room, bus, train, office or wherever you are. Leaders come in all different forms. Some people are natural leaders and some people must be taught to lead. Some are aggressive while others are more laissez-faire. Whoever you are and whatever leadership style you take on, there’s always room to improve.