To succeed as a leader, significant support is required.
This starts before the opportunity to lead begins…or at least, it should.
Setting up your leaders to thrive through a development program both prior to and during their tenure is key to the success of your leadership team and your business. Training in itself is one source of development, however must be supported in practice through a developmental culture, coaching and mentoring. Ongoing support ‘makes the learning real’ within the work environment, reinforcing the content and context provided during training.
How many of you support this development through an in-depth and formal induction process?
An induction is not simply an introduction to the business, its history and elements of purported culture. It should be a tailored set of tools that provide context, responsibilities, accountability and other relevant points that provide the leader with every opportunity to hit the ground running and flourish in the long-term. This should be the case no matter what level the leader is employed at. In a recent article Norah Breekveldt highlighted various points related to the investment required to ensure leaders succeed.
Businesses invest heavily in attracting and hiring the best executives the market has to offer. However, despite the best recruitment or search processes, success is by no means guaranteed and many new hires don’t make it – in fact around 40 percent of new hires derail in the first 18 months – that is, they are demoted, are fired, resigned or failed to be as successful as expected.
Can you imagine a business installing some new technology or investing in a piece of highly complex equipment and accepting a 40 percent failure rate? *
There are many reasons why a new hire fails in their role. Unfortunately, too often this is not the fault of them. Informal power bases, politicking, underestimating the challenges of the role, overestimating skills and capabilities, along with other influences are all elements that can derail an opportunity.
When leaders derail their problems can almost always be traced to complex chains of events that developed early in their appointment…Derailment emerges typically over a six to twelve month period as forces conspire against the leader and the impacts of misjudgements or poor decisions start to be realised. The consequences of these failures can be catastrophic for the individual and costly for the firm.
All new leaders require a proactive and supportive approach to their integration in order to succeed and excel. Leading firms recognise that investing in proactive support minimises the risk of outright failure, stems the potential loss of key staff and clients due to missteps that could have been avoided and ensures the new leader becomes productive and flourishes in the shortest possible time. *
The points raised above are logical and seem simple to apply. Yet, in practice few businesses truly succeed at maximising the opportunity for their new leaders, not to mention the existing leadership team.
To genuinely succeed in business, leaders must know their role, continuously develop their skills and be constantly supported to achieve the best they can as a leader, based on each individual. It is worth taking a moment to consider where your organisation succeeds or fails in this area. Take stock and make adjustment where required. The benefits will be felt by all!
Take Your Investment In New Executives One Step Further: Norah Breekveldt, Business First Magazine, July/August 2014 www.businessfirstmagazine.com.au