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:
- better financial performance
- better talent management
- improved strategy execution and
- 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?
Find out more about the risks of leader transitions at the free ‘Leader Transition Is Risky Business’ Lunch and Learn, January 27, 2021.