Refresh your thinking on how your organisation can create powerful leadership transitions. My weekly posts (less than a minute to read) share the lastest thinking, research and case studies, about effective transitioning. We’ll move on from the ‘First 90 Days’ thinking, and look beyond accelerated business results as the only measure of success. Let’s explore transitions as an opportunity for creating leadership ‘equity’, organisational health and retaining top talent.
Don’t get me wrong. Accelerated business success is a vital first step.
Like any organisation, EY (Ernst Young) wanted to create accelerated business results in newly promoted partners. For Ridler & Co’s recently published Big Four case study of professional practices, EY reviewed the client revenues of newly promoted partners. Some partners performed ‘significantly’ better than others.
Client revenues were their measure of success. This was how they measured their pig.
But how did they feed it? Transition is a time of acute vulnerability and visibility for leaders. Research has shown that 40% of internal high-potential promotions fail. On-boarding into a new culture can also be a huge challenge. The maelstrom of pressures is hard to meet. What do these new leaders need?
EY chose to offer newly promoted partners the time to reflect, learn and get clear on what leadership worked in their new teams. Under dual pressure to face clients and their new teams, EY offered them support in the form of transition coaching.
‘EY found a significant acceleration in the client revenues for newly promoted partners who had been coached through the transition.’
2015 Big Four case study, Ridler & Co.
Put simply, they earned more for the business than those who hadn’t been coached.
EY fed the pig, they didn’t just measure it. Having clear expectations for the business in a transition is great. Essential, even. But how does your organisation support these expectations? More on that next week.
Ask yourself: As an organisation, what do we do to create value and opportunity in leadership transitions?
In the next few posts, we’ll dive deeper into the dynamics of powerful transitions.