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 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

Is your business ready for the baby boomer leader retirements?

Canada is in one of the biggest demographic waves in the country’s history – the baby boomers have begun the transition into retirement.

How will the boomer retirements impact your business? What is at risk for your organization? Is your business ready for the leader transitions that will take place? What are the challenges that retiring and incoming leaders are facing with their transitions as they exit, enter or move into a leadership position?

Joining forces with Kathleen Ozmun, a Team Strategist, we conducted discovery research focusing on retiring and incoming Saskatoon leaders and their transitions as they exit, enter or move into a leadership position.

Join us as we share our findings. Register for this free presentation at
https://www.powerupyourretirement.com/leadership-transition-research

 

Business Leader Transition Research Webinar

My colleague, Kathleen Ozmun, and I are looking forward to releasing our findings from our Business Leader Transition research.

For more information and to register for the Webinar:

https://lnkd.in/gYCXeWp