Leader Transitions: From Risky Business to Uncovering Opportunities

A change in leadership is a time of flux and change for everyone – the leader and the team. These transitions create potential risks at every level of the organization and profitability, productivity and morale can be negatively affected. In fact, research has shown that nearly 50% of leader transitions fail.

It is crucial that businesses look at decreasing and preventing key challenges leaders in transition are facing.

Leader transition research conducted by Kathleen Ozmun and Marielle Gauthier, found a number of opportunities to ultimately lower the risks, increase productivity and quality of work, and foster better stakeholder relationships, all of which impact the bottom line.

Businesses that enhance their support for these transitions position themselves to gain benefits such as:

  • Reduce risks and costs
  • More resilience as a business
  • Business continuity
  • Maintain revenue stream
  • Better relationships with key stakeholders
  • An engaged and informed workforce
  • Maintain productivity and high quality work
  • Consistent excellent customer service
  • Smoother organizational changes

Gauthier and Ozmun recommend a comprehensive multi-faceted approach for a successful business leader transition. Initial actions as a starting point are:

  • Create a leader transition support team to accelerate role effectiveness
  • Equip leaders to nurture and build strong stakeholder relationships
  • Develop a cross-training program aimed at building the skills of employees in the company

These articles will help you assess your current business situation, the risks and impacts of your leader transitions, and ways to support leaders in transition.

Find out more about the risks of leader transitions and actions to take at the free ‘Leader Transition Is Risky Business’ Lunch and Learn, January 27, 2021.

Register Now.

 

Unsupported Leader Transitions: A High Stakes Game

The struggles faced by leaders in transition have immense impact on the business. These struggles can reduce the productivity, performance and engagement of the new leader which can ripple out into the organization. This can potentially jeopardize whole programs and services.

Businesses with leaders in transition must be vigilant to identify issues which can impact productivity, morale, relationships, performance and revenue. A focused effort to manage and correct will be required.

Based on our experience and current leadership research, we strongly believe that leadership development supports leaders and their organizations to be more successful.

According to the Center for Creative Leadership, substantial investments in leadership development drive performance and gain competitive advantage in four ways:

  1. better financial performance
  2. better talent management
  3. improved strategy execution and
  4. better change management.

Risks are created as leaders struggle and the stakes are high. If struggles are not addressed, there will continue to be risks to the business.

Here are some questions to help you think about ways to support your leaders in transition:

  • What are your leaders struggling with?
  • What do you have in place to support them?
  • How are you setting up the leader and their team for success?
  • How do you help your leaders quickly develop their skills?
  • How do you help your leaders learn to manage and influence the organization?

For further questions to assess your current business situation and the risks and impacts of your leader transitions.

Find out more about the risks of leader transitions at the free ‘Leader Transition Is Risky Business’ Lunch and Learn, January 27, 2021.

Register today.

 

Leader Transition is Risky Lunch and Learn

Leader Transition is Risky Business.

How ready is your organization for the leader transition as the Baby boomer leaders retire? How will the boomer retirements impact your business? What is at risk for your organization? What are you doing to increase the level of a successful leader transition?

Register today for the free Leader Transition Is Risky Business Lunch and Learn – January 27 at 12 noon CST.

https://lnkd.in/grsPVgr

New Year’s Resolutions on Your Mind?

New Year’s resolutions on your mind?

Check out my article about how to set yourself up for success.

https://lnkd.in/gsKza9B

#newyearsresolution #failedresolutions #goalsetting #takeaction #achievablegoals #measurablegoals #redworkscoaching #actionplan #dreambig

Leader Transition is Risky Business Lunch and Learn – January 27

Have you registered for the Leader Transition is Risky Business Lunch and Learn?
You don’t want to miss this one!
Marielle Gauthier and Kathleen Ozmun will identify potential risks businesses may face with leader transition and will need to manage.
Register today.

Leader Transition Impacts: Too Big to Ignore

A change in leadership is a time of flux and change for everyone – the leader and the team.

This leadership transition is really two events in one and each of these events can be challenging. The first event is the transfer of responsibilities including key initiatives and stakeholder relationships from the previous leader to the new leader.

The second event is the new leader establishing an effective leadership style, fostering new relationships and developing value-creating strategies in their new role and with their new teams.

These transitions create potential risks at every level of the organization and profitability, productivity and positivity can be negatively affected. In fact, research has shown that nearly 50% of leader transitions fail.

Leader transition research conducted by Kathleen Ozmun and Marielle Gauthier, found a number of serious risks that can impact your business operations. These risks and impacts include:

  • interruption of business and service
  • financial cost increases and revenue loss
  • staffing challenges
  • work relationship difficulties
  • under-resourced leadership development
  • uncertainty about transition timing and process and
  • the inability to engage in strategic thinking and planning.

Here are some questions to consider the risks and impacts of your leader transitions:

  • What are potential risks for your business?
  • What may interrupt your business and service?
  • What costs may not be factored into the transition process?
  • What key messages do you need to send about the leader transition? To whom?
  • How will you maintain strong relationships with stakeholders throughout the leader transition?

For questions to assess your current situation, read our article on Leader Transition is Risky Business.

Find out more about the risks of leader transitions at the ‘Leader Transition Is Risky Business’ Lunch and Learn, January 27, 2021.

Register Today.

 

Tip #2 to Get Ready to Rediscover Yourself in Retirement

Do you desire joy and a sense of purpose? Then the best thing you can do is prepare for the emotional and psychological impacts of your post-career life! Preparing for a purpose-filled retirement is not all about the money.

Here is tip #2 to help make your transition a smooth one:

Think about what you want to do in retirement.
Getting stuck in default mode makes for an unhappy retirement. This is your chance to pursue your dreams!

There are key elements that need to be considered to plan for a smooth transition and a happy retirement.

You don’t have to do this alone. I can help you get there.

Find out how with the Power UP Your Retirement Lifestyle Program

Special pricing to get you going.

Tip #1 to Get Ready to Rediscover Yourself in Retirement

Do you desire joy and a sense of purpose? Then the best thing you can do is prepare for the emotional and psychological impacts of your post-career life! Preparing for a purpose-filled retirement is not all about the money.

Here is tip #1 to help make your transition a smooth one:
– Start thinking about your retirement 1-5 years in advance.

If you’re going to be making big lifestyle changes like moving or travelling, your key to success is thinking it through well in advance.

There are key elements that need to be considered to plan for a smooth transition and a happy retirement.

You don’t have to do this alone. I can help you get there.

Find out how with the Power UP Your Retirement Lifestyle Program

Special pricing to get you going.

 

Leader Transition is Risky Business

There are many reasons for leader transition – new position, retirement, promotion, development, and unfortunately death. The majority of transitions create significant challenges for business continuity, financial stability, and business growth.

A change in leadership is a time of flux and change for everyone – the leader and the team.  These transitions create potential risks at every level of the organization and profitability, productivity and positivity can be negatively affected. In fact, research has shown that nearly 50% of leader transitions fail.

Leader transition research conducted by Kathleen Ozmun and Marielle Gauthier, found that the financial costs to the businesses if the transition failed were significant – from tens of thousands to more than $3 million dollars.

Here are some questions to consider regarding your current situation:

  • How prepared are you to manage the leader transitions in your business?
  • How much risk is there for your business if you were to lose key leaders?
  • How urgent is it for you to have a plan to successfully transition your leader?
  • What might prevent you from putting a plan in place to support your transitioning leaders?
  • What can you do today to prepare?

Find out more about the risks of leader transitions at the ‘Leader Transition Is Risky Business’ Lunch and Learn, January 27, 2021. Register Now

Leader Transition is Risky Business

Leader Transition is Risky Business.

Research shows nearly 50% of leadership transitions fail.

Which 50% do you want to be in? Let’s find out.

Register today for the Leader Transition Is Risky Business Lunch and Learn – January 27 at 12 noon CST