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.

 

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

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

Succession Planning For Your Business

The COVID-19 outbreak has shown the importance of having a succession plan in place that accounts for unforeseen events. If your business does not already have one in place, there is no better time to do so than now!

Many small businesses are dependent on the owner, which means being capable of retirement or a career transition requires strategic forethought and action built into the structure of an organization. Having a strategy for developing people who can move up when key employees leave is critical to the long term success of a business.

The trouble is many businesses owners only start thinking about this when they are nearing the transition. Building on-going succession planning into the structure of a business will not only position the business for success when transition approaches, but it will allow the business to grow and attract top talent in the meantime.

When a business has leaders-in-training, the dependence on the owner is minimized so that in the case of leadership transition or unforeseen events, less of the stress rests on a solo individual.

To learn more about the support I offer for building succession planning into your business, visit redworkscoaching.com or send me an email at marielle@redworkscoaching.com.