I recently attended an HR Leadership Forum meeting in Arlington, VA on Friday October 5th where Dr. Craig Simpson, with ORTalent, Inc., spoke on “Unlocking the Hidden Psychological Drivers of Leadership Performance.” Dr. Simpson provided some interesting statistics showing that in the first 18 months 30% of internally promoted executives and 50% of externally hired executives fail in their role. Simpson stated that the average cost of this executive turnover is estimated to be approximately $500,000. We know that turnover in general is costly to organizations. So, the question is “why do they fail”?
If you’re like many Generation Xers today, you may be expecting the impending retirement of millions of Baby Boomers to boost the job market and open up a massive number of senior level opportunities. It seems like a natural progression of events and one which will fix today’s tight job market. But Boomers aren’t proving to be so quick to exit the market and we should consider the possibility that this may not be such a bad thing after all.
Have you ever felt stressed when a hiring manager comes to your desk and tells you that you need to hire someone, like yesterday, for a position within your organization? If so, you are not alone. Hiring people can be time consuming, frustrating and a difficult period of time for a recruiter, especially in tough economic times. A depressed economy places even more stress on hiring managers.
Should you command respect at work? Of course you should. Should your valued employees expect respect? Of course they should. But what about poor performing, soon-to-be former employees?
As Misti Mukherjee, Partner for Jackson Lewis LLP pointed out on Sept. 19th at the Dulles SHRM chapter meeting on Powerful Management Training: How it Impacts the Bottom Line, lawsuits are most often driven by emotions. For an employee, being terminated or laid off from a job can be crushing. But being humiliated and disrespected in the process? Watch out!
Lisa Haneberg recently presented a free ASTD webinar, Five Earth Shattering Topics for Management Development That I Learned From My Friends. During her presentation she actually shared six really great ideas and insights from colleagues that she has worked with on how we can develop others and ourselves as leaders.
We’ve been hearing a lot from our clients lately about leadership succession planning and transition at their firms. Although many firms chose to reduce or even eliminate their investment in leadership development programs as a result of the recession, we’ve noted that many firms have come to appreciate the value of that investment, and have therefore given it higher priority.
Let’s face it: the majority of firm leaders today represent the Baby Boomer generation, and for many of us, retirement looms on the horizon. Who will replace us to lead our firms into the future, and what should we be doing in order to ensure that they are prepared to lead?