Here’s a startling research finding: Within six months of being promoted, more than 20 percent of new leaders and managers quit. In essence, they celebrate their promotion by finding another role somewhere else.
"The best organizations offer two rewards together: the promotion and the support the newly-promoted team member needs to succeed. Anything less puts this team member at risk."
True statement 💯
Support is the key to retain the team members. Otherwise there are plenty of opportunities in the fast growing world.
Businesses in America (that are successful) operate as hierarchies and meritocracies. Seniority is generally rewarded with pull and pay (most of the time). An organization will generally push it's team members towards a vertical trajectory. Wise leaders offer careers (good pay, benefits, and culture) at all levels. Kim Scott, in RADICAL CANDOR, discusses the importance of recognizing whether an individual is a rockstar or superstar. Companies have SMEs who enjoy killing it where they are (rockstars). They should have the autonomy to experiment and increase efficiency. Organizations also have those willing/wanting to climb the ranks and are awesome bosses (superstars). A major issue is a lot of managers have Final Placement Syndrome (Peter. THE PETER PRINCIPLE). Despite this FACT they are still being promoted...
Do you think a good number of Peters would be considered Peters with the right kind of support, Joe? Or is that not that right way to think about that cohort of people?
Years ago I worked with a young marine. He taught me the mantra: Figure It The F*ck Out (aka FITFO). When we take that approach we can get things figured out/done on our own. The question becomes "do our efforts/results align with the organization's?" I sincerely believe that many higher ups have stopped sharpening the saw (Covey. THE 7 HABITS OF HIGHLY EFFECTIVE PEOPLE). These "leaders" (most of them are simply managers with leader in their title) expect their newly promoted people to figure out the issue, and know what to ask for. This is where compromise and gray thinking (Sample. the CONTRARIAN'S Guide to Leadership) are imperative to the organization's future. Only after this process should we rule the newly promoted as incompetent;).
Interesting blend of a person you're talking about.
The kind of person who comes up thru the ranks by way of FITFO has probably felt like their own leadership development was helped by not being provided the kind of support they might see.
They like the crucible they went through, so they tend to create it for others too.
Which often leads them to NOT be the leader they should be for others.
I have seen it countless times and experienced it personally. It is a primary reason I am so passionate about coaching and giving back to others in the construction industry.
Re: Within six months of being promoted, more than 20 percent of new leaders and managers quit...I wonder what the baseline turnover rate is at the companies included in this figure? 20% seems like a pretty low number considering it is said more than half of all people leaders are considered to be ineffective. But regarding today's post - not supporting your newly promoted talent is a big issue. I've seen a lot of talented people either crash and burn or simply leave the company to save face. In every case, it was because they did not have a support system in place with coaches/mentors/sponsors.
"The best organizations offer two rewards together: the promotion and the support the newly-promoted team member needs to succeed. Anything less puts this team member at risk."
True statement 💯
Support is the key to retain the team members. Otherwise there are plenty of opportunities in the fast growing world.
Thanks for your comment, Bushra.
Appreciate it.
what does support practically look like in your organization?
Businesses in America (that are successful) operate as hierarchies and meritocracies. Seniority is generally rewarded with pull and pay (most of the time). An organization will generally push it's team members towards a vertical trajectory. Wise leaders offer careers (good pay, benefits, and culture) at all levels. Kim Scott, in RADICAL CANDOR, discusses the importance of recognizing whether an individual is a rockstar or superstar. Companies have SMEs who enjoy killing it where they are (rockstars). They should have the autonomy to experiment and increase efficiency. Organizations also have those willing/wanting to climb the ranks and are awesome bosses (superstars). A major issue is a lot of managers have Final Placement Syndrome (Peter. THE PETER PRINCIPLE). Despite this FACT they are still being promoted...
Thank you for your time.
Do you think a good number of Peters would be considered Peters with the right kind of support, Joe? Or is that not that right way to think about that cohort of people?
Years ago I worked with a young marine. He taught me the mantra: Figure It The F*ck Out (aka FITFO). When we take that approach we can get things figured out/done on our own. The question becomes "do our efforts/results align with the organization's?" I sincerely believe that many higher ups have stopped sharpening the saw (Covey. THE 7 HABITS OF HIGHLY EFFECTIVE PEOPLE). These "leaders" (most of them are simply managers with leader in their title) expect their newly promoted people to figure out the issue, and know what to ask for. This is where compromise and gray thinking (Sample. the CONTRARIAN'S Guide to Leadership) are imperative to the organization's future. Only after this process should we rule the newly promoted as incompetent;).
Interesting blend of a person you're talking about.
The kind of person who comes up thru the ranks by way of FITFO has probably felt like their own leadership development was helped by not being provided the kind of support they might see.
They like the crucible they went through, so they tend to create it for others too.
Which often leads them to NOT be the leader they should be for others.
Perhaps that is why there is a constant demand for leaders.
This is spot on! The promotion is a way to get top performers to stay, and without coaching, support, and education, they will almost always leave.
Sounds as if you’ve seen it first hand a few times, Josh?
I have seen it countless times and experienced it personally. It is a primary reason I am so passionate about coaching and giving back to others in the construction industry.
Re: Within six months of being promoted, more than 20 percent of new leaders and managers quit...I wonder what the baseline turnover rate is at the companies included in this figure? 20% seems like a pretty low number considering it is said more than half of all people leaders are considered to be ineffective. But regarding today's post - not supporting your newly promoted talent is a big issue. I've seen a lot of talented people either crash and burn or simply leave the company to save face. In every case, it was because they did not have a support system in place with coaches/mentors/sponsors.
Good question on the stat. Will dig a little on the research.