Another telling survey has shown that between 50-60% of new executives fail within 18 months of their first appointment (HBR – The 4 Things Successful Executives Do, 7 March 2018). The same survey showed that 61% said they were not prepared for their new role and 76% received no or inadequate help from their organisation to make the step up.
On a more positive note, here's what the survey identified as the key traits of the successful 40-50%:
- They had a wide-ranging perspective and could see how different parts of their businesses fitted together to form an integrated whole.
- They knew their industry and how their businesses were making money. They were spotting trends and horizon-scanning to good effect.
- They were able to integrate intuition, data and other feedback to make good decisions. Allied to this, they were not afraid to say 'no' clearly.
- They had a good appreciation of who their key stakeholders were, and they invested in those relationships. They were willing to accommodate the interests of other parties (even putting them ahead of their own) and they devoted both time and effort to help them succeed.
It makes good business sense to invest in developing current and potential executives. Aspire MCL loves to help leaders and their teams achieve their potential. Call us now for a no-obligation initial consultation (020 3903 9288).