60% of First-Time Leaders FAIL! STOP THE MADNESS!
How are YOUR first-time leaders doing?
I was recently talking with a person who was being promoted to their first supervisory role and I heard the anxiousness in their voice. I thought back to my first leadership role and recalled those same feelings of excitement and fear. The stretch from individual performer to manager is huge, for any new leader. Further stretch exists now with the increased complexity of cultural curiosity, digital competency and leading virtual teams. No wonder that 84% are stressed in their first leadership role, as pointed out in this DDI report.
For the new manager, this can lead to:
burnout of the new leader
disillusionment for the role
decrease in self-confidence
This is certainly not the intent of the organization. But, without proper support for that newly promoted person, it will be the result for many. Typically, that individual is a high performer and is being rewarded with a leadership opportunity. Yet too many organizations are not then investing in that great employee with needed support as a first-time leader. And according to CEB, 60% of them fail in the first 24 months.
The business impact of failing leaders
According to a DDI study, 80% of a company’s market value is in intangible assets (such as IP, Brand…) and an organization’s workforce is what drive these intangible assets. Frontline leaders directly supervise 80% of workforce. The frontline is where most first-time leaders debut. Yet, business leaders under invest in those that are ultimately responsible for the vast majority of their customer experience and therefore their business success. According to DDI, on average, a leader gets their first formal training 4 years after being promoted. And recall, 60% fail in the first two years. How recently have you reconsidered your organization’s approach to developing first-time managers?
Sink or Swim is an outdated approach
Organizations have a choice to avoid the negative impact that comes with a 60% failure rate. There is credence in Ben Franklin’s quote, “an ounce of prevention is worth a pound of cure.” These preventative options do not have to be costly and they should be intentional and planned.
1. No surprises - 70% of frontline leaders weren’t expecting their first step into leadership (DDI). This is an easy fix – please, speak with your potential leaders now!
2. Supervision & Feedback – this is the responsibility of their immediate manager. It should be frequent and behaviorally specific. The focus is to highlight learning in real time using real experiences.
3. Mentor – all first-time managers should be paired with an experienced leader. This can be inside or outside the company. The mentor should provide a confidential place to explore other perspectives and leadership approaches.
4. Formal Development – this can range from online foundational courses (delegation, providing constructive feedback, time management) to live workshops to external coaching. This investment should focus on concepts, techniques and practice and integrated into #2 & #3.
Don’t fail your first-time leaders
If you want to positively impact 80% of your workforce and therefore your market-value, reconsider the intentional investment being made in your organization’s first-time leaders. When you are ready to explore some options for your organization, MBM ELEVATE is ready to share some ideas to accelerate your success.
Mary Beth Molloy
Certified Executive Coach and Business Consultant, she delivers uncanny focus on the intersection of your business vision and goals and the leaders you’ve entrusted to achieve them.
She knows what it takes to accelerate and elevate business results through leadership development and performance. It’s her powerful blend of these experiences together with her practicality, purpose, and positivity that drive our value.
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