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.
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.
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.
When we think of what makes a great leader, many adjectives pop into our heads: honest, focused, passionate, respectful, persuasive, confident. One of the most underrated aspects of leadership, though, includes a firm grasp on psychology. When leaders can understand beyond just the symptoms of issues i.e. reasons employees are procrastinating, or coming up short in their deliverables every week, showing up late and so on, we can adjust the way we address and coach them long-term. This is more than just recognizing a problem in your team, addressing it and calling it a day. This is taking a look at your team, understanding the core of rising issues, addressing them, but also addressing the way you are running the office.
In a Brandon Hall Group study, researchers reported the majority of organizations (83%) said targeted development for all leader levels is important or very important. While leadership development and training is on the minds of many organizational chiefs, what are the first steps to reaching this goal? In order to best develop your leaders, the most important skill to address is communication.
Organizations are moving from a hierarchical reporting structure to a flat structure. This evolution on workplace reporting and accountability is having a major impact on how we perceive power and the use of power within this clash between traditional and modern reporting structures. Relative to leadership, power is slowly being distributed to employees as leaders continue to spread leadership culture in their organizations. As this redistribution takes place, leaders who still rely on power to influence their colleagues and teams, may find themselves dismayed or even blind to the impact their traditional mindset is ineffective within the new workplace.
Succession planning means investing in individual and organizational development, but sometimes succession plans derail as talented individuals leave your organization. The natural response is to improve employee retention strategies, right? But the real issue behind failed succession plans is that they need adequate leadership development and employee retention strategies to thrive.