Nearly 50% of leadership transitions fail, and in the case of generational transitions in a family business, only 12% make it to the third generation. What’s more, when a leadership transition succeeds, they are 90% more likely to meet 3-year objectives and experience a 13% lower chance of attrition. With those numbers, it’s hard to argue the importance of getting these transitions right.
There’s an unspoken expectation that executives should have things all figured out and don’t need as much support during a transition. Unfortunately, many executives who come into an organization rely heavily on past experiences and skillsets that made them successful before, and may not properly factor in the new company culture. A strong culture fit is an essential component to a successful transition.
Whether you have a leadership transition resulting from a promotion from within, or you’re bringing in a new leader to your organization, a business coach can help you navigate the process for a successful transition.
Need support for your next leadership transition? As a certified executive business coach, I can provide a clear roadmap and expert guidance to help your business succeed. To get started, simply email me at pcabalka@schaperinc.com.