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.
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.
Employee engagement statistics have been at the top of improvement lists at organizations across the country for as long as Gallup has been measuring them. Even as our solutions for getting employees engaged (and keeping them that way) have grown, the number of disengaged people within an organization has remained, stubbornly the same.
Companies thrive when the organization sets goals for its bottom line and aligns those to its employees. While setting organizational goals is crucial for companies, most companies don’t. In fact, in a study conducted for companies, over 80% of the participants stated they have not set organizational goals because they didn't believe it to be an important task. If this sounds like your company, below are four principles to live by, especially if you want lower turnover, a better ROI on your talent and streamlined operations.
You’re already painfully aware that you need amazing leadership in your company. After all, with Baby Boomers heading into retirement in droves (about 10,000 a day), you are keenly attuned to the fact that leadership impacts succession planning, growth, retention and so much more. But with the changing shifts in the workforce and accelerating demands on everyone’s time, how do you develop leaders from employees?